Distribution of value created by TITAN Group in 2011
Total value created in 2011 was €1026.6 million and distributed to key stakeholders as follows:
- To employees for salaries, pensions and social benefits, including additional benefits beyond those provided by law: €218.1 million
- To local and international suppliers: €642.9 million
- For new investments in fixed assets: €58.1 million
- To state and local authorities through taxation: €82.6 million
- Return to shareholders and minorities: €24.9 million
Aiming at implementing a systematic Problem Solving process so that common pitfalls of ineffective problem solving are avoided, a Problem Solving training took place for the Florida Business Unit management members, in which more than 150 employees were trained.
Training was offered on how to avoid common pitfalls of ineffective problem solving such as: quick conclusions when no adequate analysis has taken place, failure to gather critical data, working on not well defined problems, not involving critical people and plan failure to implement the recommended solution. The six steps process of Problem Solving was presented, serving as a comprehensive approach in answering all questions related to each problem solving phase, producing outcomes that lead to a well defined and planned solution.
At the same time, this developmental program goes beyond problem solving since it can be further employed to identify changes that need to be made on a system, work, process, specific products or services. It fosters root cause analysis that enables an organization to meet and exceed customer requirements and improve quality, resulting in improved business performance.