IOC wins Munjal Award for Business Excellence
The Indian Oil Corporation, the 88th 'Fortune Global 500' company won the prestigious BML Munjal Awards for Business Excellence through Learning and Development' for 2014 for consistently used training, learning and development as a source of competitive advantage.
IOC was adjudged the winner of this coveted award in the Public Sector category in a glittering ceremony held recently at New Delhi.
Mr R S Butola, Chairman accepted this award on behalf of IndianOil family, an IOC release said.
He said during the last two decades, the IOC's refining capacity increased by over 100 per cent, marketing volume by over 100 per cent and pipelines capacity by over 200 per cent.
The sustained increase in manpower productivity was primarily due to learning and development initiatives taken up by the IOC besides factors like improvement in refining technologies and large-scale automation.
The Organization has mastered the art which enabled it to do more with less, he added. At the end of the day, technologies do not learn on their own nor does the automation operate by itself; it is the human resources which assimilate the use of technology and automation to improve productivity, he said.
The awards initiated in 2009 are named after the Hero Group Chairman and Padma Bhushan winner - Dr Brijmohan Lal Munjal a€" a leader who built his business conglomerate from scratch. The ninth edition of the award were given in three categories - Public Sector, Private Sector (Manufacturing) and Private Sector (Services).
The jury comprised industry luminaries like Mr Hemant M Nerurkar, Tata Steel, Mr Sudhir Vasudeva, ONGC, Mr Arup Roy Choudhury, NTPC, Ms Shobana Kamineni, Apollo Hospitals, Mr C S Verma, SAIL, Mr S Ramadorai, National Council on Skill Development, Dr Vinayshil Gautam, KPMG and Mr Sunil Kant Munjal, Hero MotoCorp Limited and Hero Corporate Service Limited.
(Posted on 11-04-2014)