Abstract
Tata Steel is a company which is now over 105 years old and continues to be a force to reckon with in the world steel industry. This continued profitable presence in a highly technology- and manpower-driven, capital-intensive industry is not a mere chance event; it has been an outcome of continued innovation in the way the company’s leaders have rediscovered and restated the purpose for its existence – which derives from the Tata Group philosophy of “leadership with trust”. During the years 1990-2010, the company went through a large scale transformation when the leaders reinvented the way in which the daily management as well as strategic management activities were carried out. The successful turnaround of the company from a manpower-intensive, low-technology player to the world’s lowest cost steel plant and more was made possible due to the several initiatives taken up in these years.
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