Rourkela Steel Plant

International Journal of Business and Management Tomorrow Vol. 2 no(prenominal) 5 HR Strategies for Turnaround Management: A parapraxis excogitate of Rourkela Steel Plant Archana Choudhary*, Assistant professor (OB & HR), BIITM Parmeswar Nayak, professor (HR), BIMTECH SnigdhaTripathy, Associate Professor (Economics), KSOM, KIIT University Abstract Human resources are the intimately important assets in pickings any organization forrader even if the organization is passing technology centred. Based on this conviction, Rourkela Steel Plant (RSP) started its locomote of turnaround from declining state to a profitable one. A serial publication of HR interventions were taken to tap the unlimited potential of human resources and whose focal refer was survival and future existence of RSP. This article discusses the various HR interventions taken by Rourkela Steel Plant over a peri od of three years to revive from a loss-making to a profit-making organization. Ke ywords: Turnaround, Corporate, Decline, Employee Motivation, Management, HR Strategies 1. A Brief on Turnaround In at onces times a bent of emphasis is disposed on the issue of c orporate job and turnaround heed by the managers, consultants and researchers across the globe (Bruton, Ahlstrom, and upset 2001; Chanda 2002; Collins, 2003; Gerstner, 2001; Harvard Business School, 1999 -2001; Mone, McKinley and Barker,1998). This anxiety may be attributed to greater incidence of firm decline arising from increased competitiveness and openness of the worldwide economy (Cameron, Sutton and Whetten, 1988a; Witteloostuijn, 1998;). However, most studies on organizational turnaround hand over been conducted on firms established in developed countries especially in North America and Europe (Bruton, Ahlstrom and Wan 2001). These studies typically follow that management of these organizations have considerable impropriety when it comes to removing the incumbent ISSN: 2249-9 962 whitethorn|2012 www.ijbmt.com P! age | 1 International Journal of...If you want to soak up a full essay, order it on our website: OrderCustomPaper.com

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