Executive Summary

The project is divided into two phases phase I emphasis on the concept of personality in

detail and Phase II emphasis on Mr laxmi Nivas Mittal as a leading personality in steel

industry.

The project reveals in-depth study on concept of personality as a whole, describing how does

it originate and develops over a period of time, how does a personality get influenced and

influences internally and externally, various determinants of personality.

The study also depicts various personality traits, which helps to know your personality type,

states importance of powerful personality. Thesis also includes significant personality traits

impacting Organizational Behavior.

The second Phase of the of the project emphasis more on Mr Laxmi Mittal as a leading

entrepreneurial personality and his distinctive personality traits. The project reveals

(milestones to mittals success) the growth story of Mittal enterprise from LNM Group to

Arcelor Mittal, world’s Largest Steelmaker. The study also encloses Mr Mittals leading

personality traits, Leadership traits and Enterprenual Ability. The report concludes with

verbal depction of Mr Mittls Beliefs, style of maintaining interpersonal relations, his

contributions towards the community and his achievements.

Chapter 1

Introduction to Personality

The word personality itself stems from the Latin word persona, which referred to a theatrical

mask work by performers in order to either project different roles or disguise their identities.

Personality is the particular combination of emotional, attitudinal, and behavioral response

patterns of an individual. Different personality theorists present their own definitions of the

word based on their theoretical positions a brief definition would be that personality is made

up of the characteristic patterns of thoughts, feelings and behaviors that make a person

unique. In addition to this, personality arises from within the individual and remains fairly

consistent throughout life.

Definitions of Personality

Stephen Robbins has defined personality “as the sum total of ways in which an individual

reacts and interacts with others.”

Gordon Allport defined personality as, “Personality is the dynamic organization within the

individual of those psychophysical systems that determine his characteristic behavior and

thought.”

Objectives of the Study

To study and understand the concept of Personality and its components, Traits, Importance of

good personality and how it does affects Organizational Behavior.

To understand how does a good Personality originate or can be developed and the factors

influencing personality.

To undertake a study on Mr Laxmi Nivas Mittal as an entrepreneurial personality and his

Personality Traits

To identify Study and analyze factors leading to Mr Laxmi Nivas Mittal’s success.

To know about Contributions made by him towards community and his achievements.

To study and analyze growth story of Arcelor Mittal.

To undertake a detail study on organizational culture, Employee relationships in Mittal

Enterprise.

To acknowledge strategies used by Mr Mr Laxmi Nivas Mittal on various phases of business

life cycle in order to grow and overcome all competitive and global hurdles.

Research Methodology

Collection of data

Secondary data:

The methodology for collection data with reference to the secondary data was taken from the

different Published Books, Journals, Articles, Magazines and e-Data.

Scope of the Study

This project throws light on entrepreneurial leading personality traits possessed by Mr Laxmi

Nivas Mittal and various strategies undertaken by him to Lead Steel Inustry.

This study analysis on Traits Possessed by Mr Laxmi Nivas Mittal which has a wider scope

for upcoming entrepreneurs and leaders to strengthen up their Personality Traits and built a

sound organizational Structure to maintain healthy environment for growth.

Study acknowledges strategies used by Mr Laxmi Nivas Mittal on various phases of business

life cycle in order to grow and overcome all competitive and global hurdles.

Limitations of the Study

Study has been undertaken on the basis of secondary data only.

Study emphasis on Enterprenurial Personality Traits of Mr Laxmi Nivas Mittal.

Chapter 2

Personality

Personality can be termed as the combination of qualities – mental, physical, and moral that

sets one part from others. Having a strong personality is the key to success. This is also a key

determinant of good leadership. A good personality enables one to establish self control and

self direction to discover the reality of freedom of choice. A person with a positive attitude

can direct his thoughts, control his emotions and regulate his attitude.

In order to have a good personality, self development is needed. An executive’s self is the

sum total of all that he can call his own. Self is something of which he is aware of. The self

concept which an executive brings to his job is the amalgamation of many things, his

perception towards his parents, the rules he has learnt, the impressions he carries about his

peers, the record of success and failure, and the idea of what rewards he deserves.

The self development process transforms from dependence to self direction, from

impulsiveness to self discipline, from ignorance to knowledge, from incompetence to

competence from immorality to morality and from self centered to concern for self and

others. Developing and bearing a sound personality is a changing process.

Classification of Personality

The personally can be broadly classified into two groups – sick personality and healthy

personality.

The sick personality is also known as disturbed or peculiar personality. Sick personality can

be the consequence of physical and/or psychological factors. These factors may or may not

be in the control of the person. Some of these factors can be troubled childhood, repeated

failures, lack of motivation, rejections, distrust of the parents and peers etc. The person

himself has to assume a greater responsibility for following a prescribed pattern and pulling

himself out of this situation.

Healthy personality is an image of a person who does not feel anxious or hostile, is not self

defeated or destructive to others. People with healthy personalities are judged to be well

adjusted. Apart from a good physical health, some other characteristics and features are

necessary for an individual in order to have a positive, strong, and balanced personality. Such

a personality helps an executive to influence other people in his favor.

Components of Personality

So what exactly makes up a personality? As described in the definitions above, you would

expect that traits and patterns of thought and emotion make up an important part. Some of the

other fundamental characteristics of personality include:

Consistency - There is generally a recognizable order and regularity to behaviors.

Essentially, people act in the same ways or similar ways in a variety of situations.

Psychological and physiological - Personality is a psychological construct, but research

suggests that it is also influenced by biological processes and needs.

It impacts behaviors and actions - Personality does not just influence how we move and

respond in our environment; it also causes us to act in certain ways.

Multiple expressions - Personality is displayed in more than just behavior. It can also be

seen in our thoughts, feelings, close relationships and other social interactions.

Knowing your Personality Type

It is important that you analyze your own personality type. Once you know your own

personality type you can know what areas of your personality you need to work on. Is it your

communication skills, your body language or your attitude towards life?

Once you know about your personality type and as you start working to improve it, you will

observe that it is producing a positive effect on your relationships, work and social life.

Nevertheless, it will help you understand yourself.

True personality can be identified be the time one reaches early 30s. This is because during

our 20s we are changing and adapting constantly.

Importance of a Powerful Personality

A person who reflects an image of authority, confidence and sensibility is said to have a

powerful personality, in general. Success in every sphere of life is linked with the power of

your personality.

Personality Traits

According to Stephen Robbins, personality traits can be referred as enduring

characteris that describe an individual’s behavior. An individual possesses many

personality traits. Some of the concepts of personality traits are :

1. The big Five model

Agreeableness

Conscientiousness

Emotional Stability

Extroversion

Openness to experience

2. Type A / Type B personality

3. Self-monitoring

4. Risk- Taking

Significant Personality Traits Impacting OB

1. Machivellianism

2. locus of control

3. Self esteem

The most important and relevant question related to personality is: How does it

originate and develop?

The major determinants of personality of an individual can be studied under four broad heads

– biological, family, cultural and situational.

1 Biological Factor:

The foremost determinant of personality is the biological factor, in which are included

heredity, the brain and the physical stature. Psychologists and geneticists argue strongly that

heredity plays an important role in one’s personality. The importance of heredity varies from

one personality trait to another. For example, heredity plays a more important role in

determining a person’s temperament than determining the values and ideals.

Another factor which influences the personality is the brain of the individual.

Perhaps, physical stature of an individual is the most outstanding influence on the personality

of an individual. For example, the fact that a person is short or tall, fat or skinny, good

looking or not, will influence others and in turn will affect the person himself.

2 Family factors:

Family and social factors are also important in giving the shape to an individual’s

personality. It initially starts with contact with the mother and later with other members of

the family. Later still, the contact with social group influences an individual’s personality.

The personality of an individual is also influenced by the home environment. There is

evidence to indicate that the overall environment at home created by parents is critical to

personality development.

Apart from the family background, social class also leaves an imprint on the personality of an

individual.

3 Situational Factors:

Situational factors also influence the human personality. The effect of environment on

personality is quite strong. Knowledge skill and language are acquired by a person and can

be termed as learned modifications of behavior.

These learned modifications cannot be passed on to the children. The children in turn must

acquire them through their personal effort, experience and the interaction with the

environment.

Many a times the actions of the person are determined more by the situation, rather than his

behavior. Therefore, the situation may potentially have a very big impact on the actions and

expressions.

Factors Influencing Personality Development

The choices that are made in life churn out the personality that we carry with us. It is a

variable parameter which can be transformed or changed completely. The process of

improving or transforming the personality is called personality development.

Those who follow this process regularly always remain on the path of self improvement. Let

us understand the factors that influence personality development and why is it important.

There are many Factors that affect Development of a Personality

Different phases of childhood; when we are introduced to the new world of strangers, the

decisions that our parents take for us, the atmosphere at home and the way we are treated by

those around us leave a significant impact on our mind and this builds a personality that we

bear for a long time unless we consciously make an effort to make changes in it.

Parenting: The way a child is brought up predicts a lot about the kind of personality he/she

will have. Now a day’s parents put children in preparatory schools at a very young age

which helps them feel confident about themselves and hence helps in building their

personality. Other sub-sections of parenting like making the child aware of their own

strengths and weaknesses, and helping them understand new things in life all contribute

greatly.

Environment at Home: A disturbed childhood may cause development of an unpredictable

personality. Either the child may show no faith in the institute of marriage, etc or he/she

may feel an intense urge to have a happy family.

Self Image: The way we feel about our self determines the self esteem and self confidence

that we have. Everyone faces ups and downs in life but occurrence of such frequent episodes

damage the faith that one hold in ones decision making ability and other assets. Damage to

of the self image could cause a major blow to a positive personality.

Inner Desire: As long as one has an inner desire of remaining confidence and reflecting a

powerful image, personality development will always remain part of one`s life even in the

most adverse of the situations.

Chapter 3

Introduction to Mr. Laxmi Nivas Mittal

Lakshmi N. Mittal is the Chairman and CEO of ArcelorMittal. He was born in Sadulpur in

Rajasthan, India on June 15, 1950. He graduated from St Xavier’s College in Kolkata where

he received a Bachelor of Commerce degree. Mr. Mittal is married to Usha Mittal, and has a

son, Aditya Mittal and a daughter, Vanisha Mittal Bhatia.

Mr. Mittal founded Mittal Steel Company (formerly the LNM Group) in 1976 and guided its

strategic development, culminating in the merger with Arcelor, agreed in 2006, to found the

world’s largest steel maker. Since the merger, Mr. Mittal has led a successful integration,

establishing Arcelor-Mittal as one of the world’s foremost industrial companies. He is widely

recognized for the leading role he has played in restructuring the steel industry towards a

more consolidated and globalized model. Mittal states:

“Always think outside the box and increase the opportunities that appear, wherever they

might be”

Background

Lakshmi Narayan Mittal alias Lakshmi Niwas Mittal was born into a Marwari business

family in Churu district of Rajasthan, India. His family moved from (Rajgarh) Sadulpur,

Rajasthan to Calcutta in West Bengal. He graduated from St. Xavier's College, Calcutta with

a Bachelor of Commerce degree in business and accounting with first class. He has two

siblings (brothers) named Pramod Mittal and Vinod Mittal. His father, Mohan Lal Mittal, ran

a steel business, Nippon DenroIspat.

Until the 1990s, the family's main assets in India were a cold-rolling mill for sheet steels in

Nagpur and an alloy steels plant near Pune. Today, the family business, including a large

integrated steel plant near Mumbai, is run by Lakshmi's brothers, Pramod and Vinod, but

Lakshmi has no connection with it.

Mittal started his career working in the family's steel making business in India, and in 1976,

when the family founded its own steel business; he set out to establish its international

division, beginning with the buying of a run-down plant in Indonesia. Shortly afterwards he

married Usha, the daughter of a well-to-do moneylender. In 1976, due to differences with his

father, mother and brothers,branched out on his the LNM Group, and he has been responsible

for the development of its businesses ever since. Mittal Steel is a global steel producer with

operations in 14 countries

Mr. Mittal began his career working in the family’s steelmaking business in India, and has

over 35 years of experience working in steel and related industries. In addition to forcing the

pace of industry consolidation, he has also championed the development of integrated mini-

mills and the use of DRI as a scrap substitute for steelmaking.

Following the transaction combining Ispat International and LNM Holdings to form Mittal

Steel in December 2004, together with the simultaneous announcement of the acquisition of

International Steel Group in the United States, he led the formation of the world’s then-

leading steel producer. Subsequently, in 2006, under his leadership Mittal Steel merged with

Arcelor to form ArcelorMittal.

Mittal Steels

Mittal Steel Company is one of the world's largest steel producers by volume, and also one

of the largests in turnover. The company is now part of ArcelorMittal.

Lakshmi Mittal's family owned 88% of the company. Mittal Steel was based in Rotterdam

but, managed from London by Mittal and his son Aditya. It was formed when Ispat

International N.V. acquired LNM Holdings N.V. (both were already controlled by Lakshmi

Mittal) and merged with International Steel Group Inc. (the remnants of Bethlehem Steel,

Republic Steel and LTV Steel) in 2004. On 25 June 2006, Mittal Steel decided to

takeoverArcelor, with the new company to be called Arcelor Mittal. The takeover has been

successfully approved by shareholders and directors of Arcelor making L.N. Mittal the

largest steel maker in the world.

Acquisitions

In October 2005 Mittal Steel acquired Ukrainian steel manufacturer Kryvorizhstal for $4.8

billion in an auction after a controversial earlier sale for a much lower price to a consortium

including the son-in-law of ex-President Leonid Kuchma was cancelled by the incoming

government of President Viktor Yushchenko.

In 2005 Lakshmi Mittal flew into Jharkhand, India to announce a $9 billion investment to

build a greenfield steel plant with a 12 million tonnes per annum production capacity.

On 27 January 2006 it announced a $23.3 billion (€18.6 billion, £12.7 billion) bid for

Arcelor. On 19 May 2006 Mittal increased its offer for Arcelor by 38.7% to $32.4bn, or

$47.34 per share. On 25 June 2006 Arcelor, in a board meeting announced that it has

accepted a further sweetened offer $50.68 per share and the new company would now be

called ArcelorMittal, thus successfully ending one of the most controversial and publicised

takeover bids in modern corporate history. ArcelorMittal is now by far the largest steelmaker

in the world by turnover as well as volume, controlling 10% of the total world steel output.

Current Status

Mittal Steel today is world’s largest and most global steel company with shipment of 49.2

million tones and revenue of over $28.1 billion in 2005 and net income of $3.4 billion The

company produces No. 1 high quality steel with crude steel capacity with more than 70

million tons per annum. It owns steel making facilities in 16 countries spanning 4 continents

and employs 2, 24, 000 people spanning 49 different nationalities today.

Chapter 4

Mittal as a Leading Personality

Mittal is today considered as one of the most successful business leaders of India. He has

reached to the heights of success through his leadership qualities and his intelligence. He is

known to have excellent entrepreneurial abilities which help him compete with his

competitors and excel in the field.

He has the ability to think big and execute his thoughts in a magnificent way with no flaws

and defects. He also is known to have the ability to rope in big players and get associated

with investors and companies that are known to have the best reputation and maintains a

good will and a good market share in the field.

He has always been known to have the ability to make contacts with people through his

convincing attitude and that has helped him make associations and mergers with the big

names of steel industry.

Mittal’s vision and faith in him are also two things that have added as major source to his

success. He has a very strong and clear vision and believes in whatever he does. He has a

strong faith that hard work pays off and so is never reluctant to work rigorously. His

motivating, convincing and guiding qualities always help him keep his followers committed

and determined to achieve the goals set for them by the organization. His patience and

tolerance as well as his ability to put in sustained hard work keeps him going against all odds

and survive in this contemporary world of competition. Mittal is also known to remain

determined in his efforts and does not get dejected no matter how hard the time is.

He remains abreast of global happening to forecast future trends and then adjust own

strategies accordingly to remain relevant to contemporary times. This helps him survive in

the business world today by bringing all the necessary changes in the organization according

to the changing external environment.

His business is his passion and he remains steadfast to achieve his objectives, surmounting

all types of obstacles and hindrances. He inspires his subordinates and workers who have

faith in him and his leadership. This mutual understanding makes a winning team for Mittal

and his organization

Entrepreneurial Ability.

Mittal is known to have extraordinary entrepreneurial ability. This ability allows him to

compete among his contemporaries and excel in his work. Mittal has been very successful in

managing his work force and dealing with his partners and clientele in a very effective and

intelligent manner.

Ability to Think Big and Execute Flawlessly.

Mittal has an ability to think big. He is known to define a big picture first before drilling

down into a higher level of details. He has ability to think big and execute his plans and ideas

flawlessly. He thinks big, thinks beyond mundane, and has courage to take chances and risks.

No business can succeed until you take a risk and Mittal is a living example of that. He has

always been an initiator and always invests in new ideastends to pursue his objectives

vigorously.

Ability to Rope in Big Players.

Lakshmi Mittal one major reason of success is his is ability to rope in big players with deep

pockets .He has the art to attract people who have good investing power and convince them

to work with his firm .He has acquired a lot of organizations and has also been successful in

doing mergers and joint ventures with a lot of re known firms (like NOVA HUT, PolskiHuty

State and B H Steel). His ability to see the potential investors and convince them to work

with Mittal Group has allowed him to expand his business.

Vision and Deep Faith.

Mittal is a visionary personality and is known to have a strong and clear vision. He has a

deep faith in himself, is very sure of whatever he plans to do and puts in all the efforts he

possibly can, to ensure that his goals are achieved. Vision and faith in your ideas are a pre-

requisite for any successful entrepreneur.

Ability to Motivate, Convince and Guide.

Lakshmi Mittal has very motivating, convincing and guiding qualities that keep his followers

committed and determined to achieve the goals set for them. He is known as a very inspiring

leader and has a quality to motivate his employees in attaining the desired goals and

objectives. This does not only help him attain his company’s ultimate objectives but also help

reduce retention level at his firms and increase job satisfaction at his organization.

Patience and Hard Work.

Mittal has patience and ability to put in sustained hard work keeps him going against all

odds. He does not believe in giving up on his ideas and efforts .This is where the faith comes

in, he has a strong faith and belief in his ideas and opinions and stick to them until he

achieves what he planned to.

Outstanding Vision.

Mittal always remain abreast of global happenings and that helps him bring the required

changes in the organization. He is known to forecast future trends and then adjust own

strategies accordingly to remain relevant to contemporary times.

Zeal and Passion.

Lakshmi Nivas Mittal considers his business as his passion and remains steadfast to achieve

his objectives, surmounting all types of obstacles and hindrances. His passion and

determination has played a critical role in Mittals success and has helped him go through all

the hard times.

Leadership.

Mittal inspires his subordinates and workers who have faith in him and his leadership. His

employees look up to him and consider him as their source of inspiration. They always have

the access to their leader and are very open to him in sharing their ideas and opinions to their

leader and this mutual understanding makes a winning team for Mittals organization.

Mittal’s Leadership Traits

Mittal is a transactional leader who guides and motivates his followers in the direction of

established goals by clarifying role and task requirements.

Initiator.

Mittal’s leadership traits and attributes include the quality of being an initiator. He was the

first mover in steel sector of India and was the first among resident and non-resident Indians

who stepped in the steel industry at the time of crisis in the steel industry in India. Today, he

stands as one of the most successful Indian business tycoon and among the richest men in

the world.

Analyst.

Mittal is known to have a very good analytical skill. He can analyze the trends in the industry

and economy overallandhas the ability to measure the right stuff according to the trend in

order to ensure success in the aims and objectives of the firm.

Crisis Management.

Managing crisis is one important characteristic of a leader. In odere to be a successful

entrepreneur, you need to have an ability to manage the expected as well as uncertain crisis is

an effective way. Mittal is known to have a very intelligent sense of managing crisis and has

always kept up the hopes of investors at times when economic crisis took place and times

when steel sector was facing its downhill.

Vision.

Vision of Mittal is making Mittal group as the premium Indian conglomerate and expanding

their business over the globe. He is a visionary with a clear and concise vision to achieve all

that he wants. This vision and ability to think big has brought Mittal on the height of success

where he stands today.

Negotiator.

In order to be a successful businessman in today’s era of globalization where diversity exists

in all areas of the economy and you are expected to work and negotiate with people from all

around the globe, the ability to negotiate well holds a major importance. Mittal Group has

tied up with companies like Kryvorizhstal ,Stelco, Arcelor, Sibalsa,Sidbecdosco ,

Hamburger,Karmet. etc and this has all been possible by Mittal’s ability to negotiate

intelligibly with others.

Adaptability.

Adaptability and flexibility in business today is essential. One has to interact with people

from a wide array of cultures and for that one has to have the ability to adapt himself

according to the situations and conditions around. Mittal has the ability to mold himself

according to the circumstances and that has is what has molded him into a successful

entrepreneur

Chapter 5

Milestones to Mittal’s Success

Mittal today has reached to the heights of success through his leadership and entrepreneurial

abilities. He is among the richest men in India and in the world and is also among one of the

biggest business tycoons India has ever produced. Mittal has a variety of qualities that one

should have in order to be a successful leader and that includes the ability to take decisions

amidst uncertainties, reading customer mind and predicting the future consumption trend and

taking necessary steps in order to keep the market share intact.

He also has the ability to keep your speed double to the change in market. Alignment of

organizational objectives and employees’ aspirations is also a characteristic that has helped

Mittal keep his employees satisfied and motivated and ultimately they have helped his firm

and him survive for so long and so well and achieve success. Quickly recognizing the

changes in macro environment and responding accordingly is also a characteristic that Mittal

and he knows what step to take and when. Mittal’s efforts to make his firm a learning

organization has also played an important role in achieving the success that Mittal has.

He has been successful in reducing the turnover rate and retaining his employees over the

years by ensuring job satisfaction amongst his employees. Mittal also holds the tendency to

build a team by recruiting talent.

Mittal’s Employees - His Responsibility

Employees are one of the most important drivers of growth and success for any organization.

At Mittal Steels, his MANTRA for employee delight focuses on 4 Ps

People.

Mittal as a leader has always focused on his people including his employees, his partners, his

co-workers and his competitors. He believes that a satisfied employee can only satisfy a

customer in the best possible way. Mittal states that his people are his most valuable assets

and he believes in investing them as they will pay off later. Mittal always encourages his

people to give ideas and opinions and believes in a very participative leadership style. He

allows them to add in the decision making process, in problem solving, in projects

initialization. He also certifies that his employees are always satisfied with the working

conditions and have high morale in order to not only reduce turnover rate but also ensure job

satisfaction amongst them.

Pride.

Mittal infused a sense of pride in his workers to be part of Mittals Steel. This sense of

belonging motivated his workers to work tirelessly for the success of their organization.

Passion.

Mittal is highly passionate as his passion is to do something better .Past years created an

indelible mark in Mittal's mind, and began to fuel his passion to achieve something big in his

life.  He was well ingrained in the Steel business within a few years, but he was not satisfied

with the prospect of running a small business. There was a fierce ambition in Mittal, which

drove him to achieve greater heights

Performance.

For Mittal performance is something that play a vital role in his organization productivity.

Therefore he also offer performance based bonuses to his employees.

Mittal’s Beliefs

Multiplying Effectiveness:

Successful leadership means picking the right people for the right assignments and

developing them. Lakshmi Mittal buys and builds industries that have become weak and

fragmented. It has been his diligence and assiduousness that he is praised by people around

the globe. As Alan Coast, a London based steel analyst says “Ispat does so well because

Mittal is a master of change, He is very good at making deals and getting performance out of

the companies he has acquired. And being sole owner makes him more fleet of foot than the

old, entrenched companies."

His business philosophy can be explicated in this way that the Calcutta chele (which

means boy in Bengali) believes in consolidation of industry. He considers himself as the Bill

Gates of India, as he himself said “I’m like to think of myself as the Bill Gates of India", I

am very driven. And probably more, so now than ever before Emerged, emerging or

submerging markets – they all represent opportunity to me".

Delegation Success Story:

Lakshmi Mittal runs Ispat, the best steel company on the planet, incorporated in Netherlands

and has its headquarters in London, and one ponders how Lakshmi Mittal makes this

possible. The only plausible reason is through effective delegation. To make any organization

thrive, the leader must not withhold authority; rather empower his/ her employees in such a

way so that competence and skills are fostered. The continued success of Ispat to the extent

that it now produces steel not only in Europe but also in North and South America is because

Lakshmi Mittal believed that he should use the energy of his employees, workers and

integrate it with his vision and long term goals of the organization. This has made the

company excel and multiple effectiveness to the extent that tit uses its own ocean-going fleet

to ship goods to customers all around the world.

Assigning Work:

Leader’s effectiveness depends on knowledge and skills in solving organizational problems.

An expounding of light on Lakshmi Mittal’s skills reveals that the leader is not merely an

effective as an entrepreneur who started out on his own and bought steel mills in Eastern

Europe. Mittal has earned himself a repute of a formidable dealmaker, he assigns tasks to his

workers in such a way that they anticipate his need, they help him buy struggling steel mills

and then they invest in it and the business turns into a competent private-sector company.

He is very firm about the assigning of roles, conducting of tasks and finally on evaluations of

the way the tasks were done. He himself spoke about his work manners by saying “At any

time I am likely to be working on two or three acquisitions", you have to have two or three

options because you can never be sure which one is going to work out. If I’ve decided

something, I tend to get it done. I have an aggressive approach, but I like to believe that I’m a

reasonable negotiator." Surely all this is not possible without the untiring effort and devotion

of his workers.

Technical Skills:

His expertise cannot be challenged when it comes to commanding business, his own words

expound light on this matter, he was once quoted saying “Being Indian is a real advantage if

you are doing business in a lot of different countries. You learn a lot about bridging

differences and reaching compromises when you grow up in a country with over 300

languages and ethnic groups." This quote made by him shows that the leader is very able is

using work assignments to develop people and communicating information to employees,

who may be from his native land or any foreign country. Lakshmi Mittal looks at everything

as an opportunity. Mittal grew up in India’s western Rajasthan desert, he is a devoted Indian

and hence traditional Indian practices still govern his workplace. The most significant is the

century old Partha accounting practice, by which all costs are calculated at the end of each

working day. Regarding this Mittal said "I tell my managers that I expect Partha-style

accounts each day. They say I am insane, but I tell them that’s what you have to do if you

want to work for Ispat."

Relational Skills:

Mittal may be responsible for winning the steel industry’s greatest tassles, but he does so as

he pushes himself for one battle after another.

Mittal is known for his philanthropic efforts but his work relations can be best surmised by

this statement “whilst Mr. Mittal is intensely aware of all relevant issues affecting the

company, he does not tolerate anything other than first-rate performance."

Mittal spent a decade learning the ways of business; he is a soft spoken person nevertheless.

He is known for throwing extravagant parties and spending lavishly on family. This may also

be interpreted as his way of telling people that his presence is there and he intends to be more

successful.

In times of stress Mittal believes that everyone experiences tough times, it’s a measure of

your determination and dedication, how you deal with them and how you van come through

them. This has not only been his mantra when it comes to deal with problems, but also his

preachings.

Conceptual Skills:

Born into a state where there was no electric power until the 1960’s, Britain’s richest tycoon

started buying small decrepit steel mills and made them successful enterprises, he also got

hold of impressive acquisitions but none of this changed the way he believed. His beliefs still

consisted of dividing work fairly among employees and having the same ethical code of

conduct for all employees. This can be exemplified by the simple fact that he owns only 40%

of the shares and voting shares in the company and Arcelor Mittal’s 11 members Board of

directors are responsible for the supervision of the company.

He may have established his business in England since he found that place as a financial

center, but he longs to live and work in his home country. He is a man of simple nature and is

not at all boasting of his successes, as in a rare interview he said “Having made so much

money, however, is there not a temptation for you and your family to go and lie on a beach

somewhere?”

Style of Interpersonal Relations:

Belonging to a traditional social orientation where the needs and interests of the group are

placed above the individual’s, Lakshmi Mittal very beautifully played this role when it came

to being an entrepreneur. His style of leadership can be easily classified as that of a

Traditional Leader.He is courteous with his employees, meeting the needs of his people,

employees and making it his first priority. Mittal firmly believes that organizations only

leapfrog when its employees are made to participate in. An example of Mittal’s such

behavior is that his marketing men have come up with a slogan and labeling the

conglomerate as the steel maker of the next millennium. Mittal’s family owns 88 percent of

the company, this has induced people to think that the family has been enriching itself at the

expense of the workers and surrounding communities; Mittal however rejects such

accusations. Mittal is renowned for his contributions to the society namely the establishment

of the “Mittal Champions Trust” as he saw that Indians were not given enough chance to

prove their mettle.

Mittal’s Philanthropic Personality

Contribution to Community

Mittal is known to have a very positive role in society as far as community service and social

service is concerned. He is known to have started many projects and has contributed as main

provider of electricity in various regions of India.

Mittal Steel acquired Urban development project in Karaganda in 1995. They also

constructed modern facilities for the Karaganda Metallurgical institute.

In Algeria, Mittal’s Company gave $100,000 aid to help the poor there and $242,000

corporate contribution was also given in 2005.

Management and employees at Mittal’s firm raised more than $500,000 for red-cross to help

the affected of Katrina earthquake that did hit India a year ago.

Providing India a source of pride.

Mittal’s Major Achievements

He was named Fortune magazine’s European Businessman of the Year 2004.

Business Person of the Year 2006 by the Financial Times for his outstanding business

achievements. In January 2007,

Mr. Mittal was awarded the Padma Vibhushan, India’s second highest civilian honor, by the

President of India.

In September 2008, Mr. Mittal was chosen for the third Forbes Lifetime Achievement

Award, which honors heroes of entrepreneurial capitalism and free enterprise.

Conclusion

Mittal has established himself as a business tycoon not by chance, but by sheer hard work

and commitment to himself, his family and his business. He has remained very steadfast and

displayed great resolve to achieve what he aimed for. He understands the intricacies of

business well and creates opportunities from challenges faced down the road. Mittals has

good business sense that guides him in venturing in those avenues which promise significant

returns. With his convincing personality and power of conviction, he took chances and

gained substantially.

He knows the value of his workers appreciates their role in success of his business and

rewards them accordingly. His subordinates are happy and take pride in belonging to Mittals.

This bondage has played a key role in the success of Mittals. He is a trend setter and is

studied by those who wish to succeed as a successful Entrepreneurial Personality.

Bibliography

Books

Michal Vaz and Meeta Seta, July 2013, Fifth Revised Edition, Organizational Behaviour,

Manan Prakashan, 2013.

P.Singh and Asha Bhandarker, Corporate Success and transformational Leadership, New

Age International (P) Limited, Publishers.

Web Links

http://business.mapsofindia.com/business-leaders/lakshmi-narayan-mittal.html

http://www.britannica.com/EBchecked/topic/1089324/Lakshmi-Mittal

http://www.jeremyjosephs.com/mittal.htm

http://encyclopedia.jrank.org/articles/pages/3998/Mittal-Lakshmi.html#ixzz1iOcUOzf8

http://www.purpleopurple.com/biography/Business-Personalities-India/Lakshmi-Mittal.html

http://itmanagersinbox.com/519/tough-times-call-for-strong-leadership/

http://www.citeman.com/7039-factors-influencing-personality.html#ixzz2qc8hrQzL

http://www.my-self-development.com/personality/factors-that-influence-personality-

development.htm

http://psychology.about.com/od/overviewofpersonality/a/persondef.htm

http://www.authorstream.com/Presentation/prasanthamz-1262215-5-eminent-personalities/

http://www.mytopbusinessideas.com/traits-of-successful-entrepreneurs/

http://en.wikipedia.org/wiki/Personality

http://www.authorstream.com/Presentation/andarpaamit-485193-laksmi-nivas-mittal-by-

amit-andarpa/

http://www.financial-inspiration.com/lakshmi-mittal-biography.html

http://www.strategicbusinessteam.com/successful-entrepreneurs/how-lakshmi-mittal-created-

arcelor-mittal-steel-and-how-he-joined-the-forbes-list-of-worlds-top-ten-richest-billionaires/

http://www.webindia123.com/personal/abroad/mittal.htm