How To Manage After M & A?

For Mittal, the biggest challenge is how to coordinate the whole steel kingdom.

As a qualified accountant, Mittal is especially sensitive to numbers. He is good at keeping everything in good order.

Both the company's colleagues and competitors gave Mittal's determination and strong memory a high score.

During the renovation of a factory in Czech, the manager of a rolling mill gave a rough optimistic estimate of the plant's capacity.

Later, when Mittal came here, he demanded to know the details of achieving the goal, which surprised the manager.

John, JohnLefler, a senior manager at SparrowsPoint steel plant under the US international steel group bought by Mittal, said that the key to Mittal's operation is to collect large amounts of data, and then use these data to precisely adjust each production plant to maximize profits at the lowest cost.

Level said, "I submit 66 reports every month.

Before the merger, 6 reports are enough.

How much petrol is used, how much electricity is consumed per hour, how long it takes to maintain, and every step must be precise to detail.

Then they will come to you and say, "why is your consumption higher than that in Kazakhstan?

Then we will try to find out why they are doing a good job.

He said that the cost control of the US international iron and steel group had been very strict before, but Mittal was "more important than anything else". Mittal's management cost was relatively low.

"There is a strong entrepreneurial culture," he said. "India guys are willing to work in the remote country for six or seven days a week."

They can tolerate the conditions that most Western managers feel miserable.

"In Mittal Empire, the management methods that are detailed and hands-on are still prevalent, as John Reeve said:" Mr Mittal is a driver, and he will not be allowed to sit in the back row to allow the development of events.

"Mittal himself is an indefatigable workaholic. He flies about 500000 kilometers every year by private jet. It seems that he always visits his empire and seeks the next paction.

Although he can spend 60 million dollars on his daughter's wedding, he hardly ever has time to rest in his palace like residence in Hamlet, London. He never plays golf and often calls managers on Saturday afternoon.

Mittal claimed that he liked this way of life. He had been puzzled by the way of life of American steel tycoons who met in mergers and acquisitions. He was particularly puzzled by their club.

He recalled when he visited the United States in 1993 to see the senior manager of the US company: "every Friday, everyone will say," have a good weekend and play hard. "I never play golf.

To my surprise, we all felt that we should play golf for the rest of the day, working 5 days a week.

"In Mittal's view, the most interesting thing about the weekend is to visit his steel works.

Mr Mittal is the best thing he has done for Mittal's acquisition of steel companies. "We are truly global steel producers, providing all the expertise we need for the troubled companies we buy.

"Every Monday, Mittal convened all the chief operating officers in the group to hold a conference call for several hours.

The purpose is to let them know what is happening in other companies.

He also flew with the company's experienced experts and senior management to solve the problems that factories could not handle.

He cuts costs, cuts bureaucracy, listens to customers, and is especially good at bargaining.

Rhodes Beddoes, head of HatchBeddows London office, an international steel consultancy, said: "Mittal's approach is not new, but he does have some good management skills and common sense.

"The world fortune nova, who is second only to Bill Gates and Warren Buffett, is now in the fortune list and has only been lighting up until 1960s when he was born in a small village in Western India.

Starting from the beginning of Indonesia, he learned not only to revive the dying state owned iron and steel enterprises, but also from his own experience in Asia. He told Fortune magazine that "being an Indian is a real advantage."

If you grew up in a country with more than 300 languages and ethnic minority entrepreneurs, Chinese Editor: you will learn how to resolve differences and reach a compromise.

"As he described the acquisition of Ansai," it was like a boxing match, we were knocked down, but we won in the twelfth round.