17-11-2012, 03:37 PM
EFFECTIVENESS OF PERFORMANCE APPRAISAL SYSTEM IN ESCORTS AGRI-POWERTRAC LTD
EFFECTIVENESS OF PERFORMANCE.doc (Size: 382 KB / Downloads: 37)
THE ESCORTS SYMBOL
The Escorts symbol means more than a seen by the eye. It has been prepared with certain objective in mind and is symbolic in more then one way.
The philosophy behind Escorts and the ‘E’ in the Escorts is “Enterprise”. The Hexagon is a symbol of productivity, precision when interposed as a nut. It symbolizes a craftsmanship, and mending productivity. The sprains superimposed on the Hexagon represent the workers and the people of the Escorts. This forms the letter ‘E’ the first of Escorts a company even on the more changing unveiling the future.
ESCORTS AGRI MACHINERY GROUP
The Vision
We shall strive to be the Numero Uno in the Indian
tractor industry and top five tractor manufacturers
in the world.
We shall continuously strive to meet the ever rising
expectations of our valued customers at the
lowest internal cost.
We shall aim to offer the farming community a
range of innovative products and services, which
shall enable them to improve their productivity
and
competitiveness.
We shall achieve a turnover of RS. 20 Billion And
profit of RS. 2 Billion By the year 2000.
Transcending national boundaries, we shall strive
to attain exports of one tenth of our total tractor
production by the year 2000.
MISSION
We will achieve leadership in market share & profitability in the domestic tractor market by the year 2004-2005 and shall be the world's largest supplier of sub 100 HP tractors. We shall proactively contribute to the prosperity of the rural economy by defining a larger role for ourselves in the Food and Agriculture sector.
COMPANY PROFILE
ESCORTS LIMITED are the holding company of Escorts groups. Post restructuring, Agri Machinery or tractors has become the focus area of operations. Other businesses like I.T., construction equipment are controlled through subsidiaries and joint ventures.
HISTORICAL BACKGROUND
Escorts came into being with a vision and a mission. A vision that led two brothers YUDI NANDA and HARI NANDA to branch out from their family’s prospering transport business and institute ventures that were to become the foundation of ESCORTS Ltd. Escorts agents limited was born at Lahore on 17th Oct, 1944 with YUDI NANDA as managing director and HARI NANDA as the chairman. After that owning to the opportunities lying in the Indian villages Escorts (Agricultural Machines) Ltd., was launched in 1948 with YUDI NANDA as the director. Tragically, he died in an accident in 1952. Then Escorts Agents Ltd. And Escorts (Agricultural Machines) Ltd. Was merged in 1953 to create a single entity Escorts Agents Pvt. Ltd. The company’s incorporation in its present name, Escorts Ltd. was effected on 18th January 1960.
Having initially started with a franchise for vesting house domestic appliances, Escorts has come a long way in manufacturing and marketing a large range of products. It has pioneered farm mechanization in India through import and distribution of agricultural tractors.
The manufacturing operations commenced in 1954, and since then the following range of products have been introduced in the country:-
1954: Piston rings and Cylinder liners
1960: Pistons
1961: Assembly of tractors
1962: Motorcycles and railway couplers
1963: Automotive shock absorbers
1965: Agricultural tractors under Escorts brand name
1969: Agricultural tractors under Ford brand name
1971: Industrial and construction equipment
1979: Excavator loaders
1981: 100cc motorcycles
1985: Electronic PABXs
1991: Harvester combines
1992: VSAT Satellite Communication System
1993: Mobile communications
1995: Fork lift trucks
1996: Disengagement of joint venture collaboration with New Holland and launch of FARMTRAC Tractor.
The single word completely described the character philosophy and success of the company, which grew from a small beginning to one of the ever-changing dimensions. For five decades Escorts has been in the core sectors like Agriculture, Transportation, Construction & Resources for Engineering change through optimum product performance.
Today Company is running with nearly 10,000 employees, 19 modern manufacturing plants and a turnover exceeding Rs. 400 crores. The Escorts group ranks among India’s leading Engineering Conglomerates.
From its inception Escorts has firmly believed that success inspiring on being close to the customer thus every corporate endeavor addresses it to end used, adjusting to ever changing markets.
At every step of the way, Escorts had inducted the latest technology by forming alliances with the world’s most advanced Engineering and Electronic companies, constantly adopting their technology according to India’s need and situation.
To make sure the finished product delivers on its promise the company had created an extra-ordinary distribution and service network that stays with the customer.
Escorts came into its own with a far reaching vision for the future to stay over close to the customers with products made in India to international standards. The source of Escorts consistent growth is commitment and contribution to the core needs of the country. Escorts have firmly believed that success depends on being close to the customers. As early as in 1944 while others were concentrating on selling their goods. Escorts sought to “Escorts” its merchandise right up to the customer’s doorstep. This meant staying close to the customer, understanding their needs, giving them a product that met these needs ensuring that it worked smoothly thereafter.
Today with Mr. Rajan Nanda as a Chairman and Mr. Anil Nanda as a Vice-Chairman the ideals have not changed. Thus, every corporate endeavor addresses to the end users and the ever-changing market, substantial man-hours are being devoted to planning a new range with the objective of consistently offering greater value to the customer.
“In every area we touch our task has always remained one of engineering change” Rajan Nanda. In every step, Escorts has induced the latest technology to make products that are not merely “better” but those meet international standard. For Escorts, these are two benchmarks of industrial achievements, the distinct, undisputed edge of technology and the internationalization of business.
In five decades Escorts has grown to become one of the top industrial conglomerates in the country.
FIVE DECADES OF ENGINEERING CHANGE
THE DECADE OF CREATION: 1944-1954
The launch of Escorts Agents Pvt. In Lahore and setting it all up again in Delhi after the country’s partition. The beginning of an industry legend, with a tractor franchise, followed by India’s first institute of farm mechanization and the company’s first industrial venture, Goetze (India) Ltd., at Patiala, in equity collaboration with Goetze of Germany.
THE DECADE OF AUTOMATION: 1955-1964
Escorts goes public. A full-fledged manufacturing orientation takes roots with the commencement of Escorts’ own brand of tractors and next major field of operation: motorcycles. The company joins hands with Mahle to produce India’s most advanced pistons.