SG7001: Thermax Ltd Report - Operations, Tech, and Partners

This report provides a comprehensive analysis of Thermax Ltd, a leading engineering organization. It critically assesses the company's current operations against its vision, examining its initiatives in sustainable development and technology adoption. The report identifies the contributions of two key partners, Mutares Holding 24 AG and Babcock & Wilcox India Holding Inc., and suggests the most appropriate type of business relationship to maintain. It evaluates Thermax Ltd's response to opportunities and threats within the engineering sector, particularly concerning Industry 4. The report also discusses the ease of adopting new technologies, such as AI, wind energy, and the use of sea water, and selects AI/Robotics implementation for a deeper analysis. It details the potential benefits of AI adoption on productivity, cost efficiency, and waste reduction, while also addressing the potential impacts on employees, management, and investors, including associated risks like security and lack of transparency. The report concludes with a discussion of the strategic implications of these findings for Thermax Ltd's future operations.

INDIVIDUAL COURSE WORK

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
1- Critically assess current operation of Thermax Ltd against its vision....................................3
2- Identifying the support made by 2 partners and most suitable type of relationship that
should be maintained...................................................................................................................3
3- Critically assess degree to which company has responded to chances or threats created by
engineering sector.......................................................................................................................4
4-Some Technologies that can be adopted by Thermax for better result in overall performance
.....................................................................................................................................................5
5- Selecting a technology that has not been adopted and extent it can be beneficial to Thermax
Ltd operations..............................................................................................................................6
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
In the world of business, due to increasing level of competition between existing brands,
each company adopt varied techniques, approaches and take initiatives to gain competitive edge.
The current assignment will be based on Thermax Ltd, which falls under list of top engineering
organizations in the United Kingdom. The study will explain current operation of company
against its vision. It will define the contribution made by two partners and appropriate form of
relationship that should be maintained. Furthermore, the report will justify to which extent firm
has responded to threats or opportunities created by its sector. It will discuss ease with which
new technologies can be adopted and will also justify a technology that has not been adopted as
well as its benefits in context of venture operations.
TASK
1- Critically assess current operation of Thermax Ltd against its vision
Thermax Ltd, is one of those European organizations that manufacture and provides
integrated heating and cooling solutions to its target customers. In context of its vision statement,
company has taken varied initiatives in term of using advanced technologies to deliver utilities to
consumers. Its key operations are supported by wide Research and development. It ties ups with
international sales and services network and global technology majors. Its vision is to be
competitive, for which it adopts sustainable development practices. In term of sustainable
development activities under each operation, firm attempts to achieve its vision, which is quite
essential and beneficial for it.
2- Identifying the support made by 2 partners and most suitable type of relationship that should
be maintained
Thermax LTD, is operated its venture in effective and systematic manner in Europe, with
key partners who are able to made significant contribution in term of conducting practices
together after making partnership. Mutares Holding 24 AG and Bakcock & Wilcox India
Holding Inc. are the two joint venture partners of chosen organization. They both contribute in
varied manners. For example, Bakcock & Wilcox holding Inc, support Thermax Ltd in term of
providing shares, which is quite valuable contribution for company in context of its growth and
excellent success in engineering market. Firm acquire 100% equity stake in erstwhile joint
venture that has now become a supportive pillar of Thermax. In 2019, enterprise has also

obtained same equity stake of its venture by purchasing shares from Mutares Holding as a
another joint venture partner. It is one of the best renewable energy sources that company has
manufactures and used to save electricity.
It is quite essential and beneficial for organization to manage the relationship with both
above business partners by following specific form of relationship. In the business world, varied
types of business relationship are accessible and used by several entrepreneurs or organizations
(7 Types of Business Relationships You Need to Grow Your Small Business, 2020). In context of
Thermax Ltd, its management should maintain corporate partnership relation with key venture
partners. By developing and managing connections with other companies that are operating in
same sector, firm may grab chance to grow even better than its rivals (Strüver, 2017). It is one of
the excellent ways to get competitive edge in term of managing several operations by taking
group discussions.
3- Critically assess degree to which company has responded to chances or threats created by
engineering sector
There are many opportunities available in the engineering industry which Threamx Ltd,
grab and give effective response towards these. For example, emerging need in context of
reducing energy consumption in industrial sector, is one of those chances that drive the attention
of organization towards manufacturing solar PV systems, which is quite beneficial for its
consumers and other industrial areas. These systems utilized cells in order to convert sunlight
into electricity. This kind of response, allow firm to stay competitive for longer time period (Jena
and Kar, 2020). It works when sun light shines on solar PV cell and develop an electric field
across layers that developing electricity to flow.
Progress in customers facing sectors present a chance for Thermax Ltd, which made it ale
to increase its items venture both in international and domestic markets. Firm has responded this
chance in term of providing the best waste management solutions, which grab the attention of
global investors and customers as well (Boano and et.al., 2020). It caters water & water solutions
for last four decades, providing to major commercial, industrial, hospitality, rural and defence
establishments, which help to eliminate fresh water consumption, recycle wastewater and reuse
it.
In context of third growth opportunity that created by its sector, company has responded
in term of offering FGD systems, which demand is increased in the recent time. It is a kind of

systems that has been utilized to limit release of SO2 from coal-fired power plants from 1960s.
Solids produced via Flue gas desulfurization systems offer second biggest coal combustion item
stream by volume (Rafiq and Rahman, 2020). It is a set of advanced and effective technologies
that utilized to eliminate sulphur dioxide from emission of other So2 emitting procedures such as
waste combustion.
4-Some Technologies that can be adopted by Thermax for better result in overall performance
Artificial Intelligence(AI)- People say that best innovation in the technological field till
now is Robotics and AI that will reduce the work from human. In any technological computer is
most used thing that reduces the burden of human efforts. Like this also AI will reduce the work
of human, make better utilization of resources, need not ti guide for every thing and no need to
pay regularly (Arena, Patane and Taffara, 2021). Thermax is using Robotics in only some
function in less plant they need to make more implementation of it to make efficient function and
to prepare for future.
Wind Energy- Te energy source are limited on the earth, company is using solar and
water sources for energy. They need to look for the use of wind energy that can be effective as
solar and can be use as other sours of energy. Company like Thermax in always in need for
energy for their production function and other activities so the wind energy can be a good source
(Kudria and et.al., 202). It will decrease the use of water based energy and make lees wastage of
water. As company has motive to provide sustainable energy solution and wind energy will help
to make it possible.
Use of Sea Water- Tag line of the company is all about the heating, cooling and
recycling based. Company need to water supply in bulk but water sources are limited, and in is
stated that if third world war will happen in may be water. So recycling is not only measure for
improvement they need more supply in the future (Gernaat and et.al., 2021). There are many
companies that are using sea water for cooling, Thermax also need to thing to develop a plan for
using sea water for that lead to create future growth plan and market sustainability. They may
also look to use the waste water of normal public recycle it and use it for the cooling it is another
new technology that may be adopted.

5- Selecting a technology that has not been adopted and extent it can be beneficial to Thermax
Ltd operations
Implementation of Robotics/AI- AI is the future of the technological field and will big impact
on the future working (Pillai and et.al., 2021). Every company is going to adopt the Robotics in
their working to run effective business function.
Impact of AI implementation on the operation of Thermax company
Able to increase productivity- Robotics are the future and will directly lead for increase
overall productivity. It makes system that work step by step and no need to guide and train them
will work according to the programs fit in that. There is no chance in reduction of ability and
functioning. Thermax will be able to make higher production capacity.
One Time Investment- AI is the high expensive technology when it comes for the first
time implementation but it is one time investment for the company. After that they just need
maintenance charges only on the other hand company need to pay regular salary and other
facilities continuously to workers.
Cost Efficient- As discuss it needs one time investment and make firm in position to cut
cost that are applied on them (Hu and et.al., 2021). It will reduce expenses on salaries, programs
for training and development, other facilities expenses etc. it will lead to create more cost-
efficient organization.
Reduce the Wastage- In company like Thermax were time is more precious thing and
material is also expensive. In this however employees work better but cases where all employees
are dissatisfied and not in position to perform then it will be waste of time and material. Where
in AI there no such kind of problem accrues because they are not human being that has feelings
and emotion so no need to motivate them.
Impact of AI on the Employees- The most adverse impact of the robotics will be on
existing ans future employees. The main impact are employees need to create opportunities to
survive in the company. They need to cop-up with the change and adopt it to sustain in the
organization (Kuhl, Lobana and Meske, 2020). Implementation of this technology will reduce
jobs for the new employees that may have chance to start their professional carrier. It can be
beneficial for existing employees in term of skill development they will quickly understand the
future need.

Impacted on Management- It will have positive and negative both impact on the
management, most are the positive impacts. First impact that they are able to achieve the
maximum production capacity with less time. They will need to provide any kind of training
program to them, they will work according to the instruction that are provided to them. It ensures
decision of management more effective because they are getting information that are true and
need to consider.
Impact on the Investors- As it will lead to improve its operation function and need some
more investment for the implementation, it will directly impact the investor. They either need to
put some more fund in the organization or company will to utilize retain earning that are the part
of investors. It will give result in the future but need fund in current.
Potential impact of associated risks-
Risk is described as fluctuation and chance in current technologies, and other aspects of
ventures that affect negatively upon existing management practices and current plans of
companies as well as their success. When Thermax Ltd use AI technology it may face varied
challenges due to risk associated with it, which may put negative impact on its operational
efficiency and daily practices that has been conducted by workers at workplace.
Security risk-
It is one of those risks that are encompasses with Artificial technology that may put
potential effect success of company (Tadapaneni, 2020). It is quite easy for hackers to hack the
system which may use by firm. Industrial robots are vulnerable to ransomware attacks, in the
world of corporate varied hackers are accessible who may use such as attack to block data access
and entire manufacturing system. Just because of this risk, firm may face many obstacles which
may affect negatively upon its privacy and security. It may decrease the operational effectiveness
of brand and lead to minimize its sales, which is not acceptable.
Lack of transparency-
Many of the Artificial systems may build with neural networks serving as engine, which
is the main part of overall programme. They are difficult interconnected node systems. All these
are less able to indicate their encouragement for decisions (Esmaeilzadeh, 2020). When company
take decision to use it, they face challenge maintaining transparency, which is quite important to
maintain at workplace. AI technologies only provides outcomes of those inputs that a company

do. It is one of the main concern with this technology that impact negatively upon productivity
and performance of Thermax Ltd. It may also lead to decrease efficiency of employees.
Financial risk-
Robotics is a domain in AI that deals with process of developing, selling and delivering
items. In term of Artificial Intelligence, Thermax may use Robotic technologies which may
provides a lot of benefits to its business. On the other hand, due to encompasses risk, it may put
negative affect on budget and financial performance of brand. For example, the cost of AI usage
and implementation at workplace is quite expensive and unaffordable for individual companies.
It requires huge amount of money as they are quite complex machines. Furthermore, along with
that, it needs time to time updation for which organization may also need to make huge
investment which is not possible to do all the time.
Recommendations for company including technology, operations and process concepts that
will be of benefit to them-
Thermax Ltd, can improve its operational effectiveness and enhance performance of
brand, by considering other options in term of technology, operations and process concepts,
which in return may provides valuable and useful benefits to overall venture.
 In term of specific operation company can introduce those machines that clean water
from lakes in bulk as fast as possible, because there are many water sources in the world
available that has been contaminated due to water and land pollution. With the help these
machines, it may contribute to make water free from any kind of pollution and chemical
contamination, which is not appropriate for human life as well as animal who lives under
water.
 Furthermore, along with above suggestion, company may recognize another one as well,
which is also beneficial for its excellent success and unpredicted growth in market. It can
use turbine in term of technology to produce energy of some fluid such as air, water,
combustion gases and steam. It is a kind of device that harnesses kinteic energy, which
saves usage of human resource and money as well.
 In term of process concept, along with using robotics, company may hire new applicants
and train existing one who are able to contribute to increase productivity of organization.

CONCLUSION
By summing up above discussion, it has been concluded that organization has achieved
its business objectives and aims, by using appropriate techniques and methods. Its key
stakeholders and venture partners has contributed to increase the productivity and profitability of
firm even better than last few years or months. Furthermore, from above study, it has been
summarized that by using the best technologies, firm has gained competitive advantages, which
has in return maximized its profits margin and enhanced performance level. By summing up
above analysis, it has been identified that by using AI in term of robotic technologies,
organization may grab further growth opportunities in its sector and also increase its operational
efficiencies in productive manner.

REFERENCES
Books and Journals
Arena, P., Patane, L. and Taffara, S., 2021. Energy Efficiency of a Quadruped Robot with Neuro-
Inspired Control in Complex Environments. Energies. 14(2). p.433.
Boano, F. and et.al., 2020. A review of nature-based solutions for greywater treatment:
Applications, hydraulic design, and environmental benefits. Science of the total
environment. 711. p.134731.
Esmaeilzadeh, P., 2020. Use of AI-based tools for healthcare purposes: a survey study from
consumers’ perspectives. BMC medical informatics and decision making. 20(1). pp.1-19.
Gernaat, D. E. and et.al., 2021. Climate change impacts on renewable energy supply. Nature
Climate Change. 11(2). pp.119-125.
Hu, R. and et.al., 2021. A Simple Framework for the Cost–Benefit Analysis of Single-Task
Construction Robots Based on a Case Study of a Cable-Driven Facade Installation
Robot. Buildings. 11(1). p.8.
Jena, S. and Kar, S.K., 2020. Demonstrating the benefits of thermoelectric‐coupled solar PV
system in microgrid challenging conventional integration issues of renewable
resources. International Journal of Energy Research. 44(2). pp.950-976.
Kudria, S. and et.al., 2021. Resource potential for wind-hydrogen power in
Ukraine. International Journal of Hydrogen Energy.46(1). pp.157-168.
Kuhl, N., Lobana, J. and Meske, C., 2020. Do you comply with AI?--Personalized explanations
of learning algorithms and their impact on employees' compliance behavior. arXiv
preprint arXiv.2002.08777
Pillai, R., and et.al., 2021. Adoption of AI-empowered industrial robots in auto component
manufacturing companies. Production Planning & Control. pp.1-17.
Rafiq, S. and Rahman, M.H., 2020. Healthy air, healthy mom: Experimental evidence from
Chinese power plants. Energy Economics. 91. p.104899.
Strüver, G., 2017. China's Partnership Diplomacy: International Alignment Based on Interests or
Ideology. The Chinese Journal of International Politics. 10(1). pp.31-65.
Tadapaneni, N.R., 2020. Artificial Intelligence Security and Its Countermeasures. International
Journal of Advanced Research in Computer Science & Technology. 8(1).
Online
7 Types of Business Relationships You Need to Grow Your Small Business. 2020. [ONLINE].
Available through: <https://www.freshbooks.com/blog/business-relationships-partners>