The adjective global and the adverb globally mean pertaining to, or embracing, the totality of a number of items, categories, etc. They also mean comprehensive and all-inclusive. Global is a synonym of worldwide and means of, or relating to, or involving the entire world in the general sense or as the planet Earth
It has been argued that global has replaced international or world as a way of referring to issues, processes and structures that affect human beings collectivelyFriday, August 1, 2008
Exclusions and inconsistencies
As the list is published early in the calendar year, Forbes has to use out of date information for the many non U.S companies which have year ends early in the calendar year, including Japanese companies, which all have 31 March year ends. No adjustments are made to reflect different accounting practices in different countries, which leads to some major anomalies. For example Vodafone is ranked 377 in the 2005 list due to losses created by huge writedowns of purchased goodwill, but if amortisation of purchased goodwill were not charged against statutory profits in the UK, it would be in the top 20. It should also be noted that wholly state-owned corporations are excluded because no market valuation exists and in some cases accounts are not publicly available either. Some of these state companies would rank highly if they were eligible, for example the national oil companies of some of the OPEC countries.
Forbes Global 2000
The Forbes Global 2000 - is an annual ranking of the top 2000 public companies in the world by Forbes magazine. The ranking is based on a mix of four metrics: Sales, Profit, Assets and Market value. The list has been published since 2003.
The Forbes Global 2000 is a useful indicator of which are the leading public companies in the world, but it is only an interpretation, as only public companies are listed. The results are not definitive; any change to the criteria would produce a different list.
Awards
- SGCCI Golden Jubilee Memorial Trust Award for outstanding performance in Export of Engineering Goods for 2004-05. This Award highlights L&T's export of high-tech, custom-built equipment worldwide.
- Greentech Safety Awards (2005) by the New Delhi-based non-profit organisation, Greentech Foundation, for the effort in industrial safety and environmental management.
- Ethics is Good Business award from the New Delhi based PHD Chamber of Commerce & Industry (PHDCCI).
- India Manufacturing Excellence Award from Frost & Sullivan, 2004.
- Environment Excellence Award 2003-04, Greentech Foundation.
- Businessworld's survey on "India's Most Respected Companies", ranked L&T first in infrastructure sector. L&T won the "Most Respected Company" award in this sector.
- A. M. Naik, Chairman and Managing Director of L&T, was honoured with the Executive of the Year Award 2004 by Indian Association of Secretaries & Administrative Professionals (IASAP) in 2004.
- L&T was ranked first in India's Best Managed Companies in a 2008 survey publishes by Business Today, India's leading business periodical.
Subsidiaries
Bangalore, India, focusing on construction equipment and mining equipment, L&T-Komatsu Limited is a joint venture of Larsen and Toubro and Komatsu Asia Pacific Pte Limited, Singapore, a wholly owned subsidiary of Komatsu Limited, Japan. Komatsu is the world’s largest manufacturer of hydraulic excavators and has manufacturing and marketing facilities worldwide.
The plant was started in the year 1975 by L&T to manufacture Hydraulic Excavators for the first time in India. Later it became a joint venture.
L&T-Komatsu Limited's manufacturing facility – the Bangalore Works – comprises the Machinery Works and Hydraulics Works divisions. Machinery Works has a manufacturing facility with ISO 9001:2000 accreditation for design, manufacture and servicing of earthmoving equipment. Hydraulics Works, with a precision machine shop, manufactures the complete range of high pressure hydraulic components and systems, and is also ISO 9001:2000 certified for design, development, manufacturing and servicing of hydraulic pumps, motors, cylinders, turning joints, hose assemblies, valve blocks, hydraulic systems and power drives as well as allied gear boxes. The products manufactured at L&T-Komatsu Limited are supplied to domestic as well as overseas customers. L&T-Komatsu Limited is certified under Environment Management System ISO 14001 : 2004 and Occupational Health & Safety Management System OHSAS 18001: 1999.
Offices and customers
Apart from several offices in India, the company has offices in the USA, Europe, Middle East and Japan.
The customer profile of the Engineering Construction & Contracts Division of L&T includes Samsung, Chevron, Bechtel, Kvaerner, Pirelli, Siam Michelin, Goodyear etc.
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