Consider the following statements about Tata Steel 1. It is Asia`s first privately owned integrated iron and steel plant. 2. It is the first company outside Japan to get the Deming Application Prize in 2008 for excellence in total quality management. 3. I

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Q: 80 (CDS-I/2010)
Consider the following statements about Tata Steel
1. It is Asia's first privately owned integrated iron and steel plant.
2. It is the first company outside Japan to get the Deming Application Prize in 2008 for excellence in total quality management.
3. Immediately after the enactment of Provident Fund Law in India, Tata Steel introduced provident fund for its employees.
4. It is the first company in the world to get Social Accountability 8000 certification from Social Accountability International, USA.
Which of the statements given above are correct ?

question_subject: 

General Knowledge

question_exam: 

CDS-I

stats: 

0,19,13,6,4,19,3

keywords: 

{'tata steel': [0, 0, 2, 0], 'social accountability international': [0, 0, 1, 0], 'provident fund law': [0, 0, 1, 0], 'social accountability': [0, 0, 1, 0], 'provident fund': [0, 0, 1, 0], 'steel plant': [3, 0, 0, 0], 'deming application prize': [0, 0, 1, 0], 'certification': [0, 0, 1, 2], 'first company': [0, 0, 1, 0], 'excellence': [1, 0, 3, 4], 'india': [8, 1, 7, 13], 'total quality management': [0, 0, 1, 0]}

The correct answer is option 3, which states that statements 1, 2, and 3 are correct about Tata Steel.

Statement 1 is correct. Tata Steel is recognized as Asia`s first privately owned integrated iron and steel plant. This means that it was the first iron and steel plant in Asia to have a complete production process that includes both the production of iron and the conversion of iron into steel.

Statement 2 is also correct. Tata Steel became the first company outside of Japan to receive the prestigious Deming Application Prize in 2008. This award is given to organizations that demonstrate excellence in implementing total quality management principles.

Statement 3 is correct as well. Tata Steel introduced a provident fund for its employees immediately after the enactment of the Provident Fund Law in India. The provident fund is a social security scheme that ensures financial stability for employees after retirement.

Statement 4, however, is incorrect. Tata Steel has not received Social Accountability 8000 certification from Social Accountability International, USA, making option 4 incorrect.

In summary, statements 1, 2, and 3 are correct about Tata Steel. However, statement 4 is incorrect.