Strategic Management: An Exploration

This assignment delves into the core principles of strategic management. It requires a comprehensive understanding of different strategic frameworks and models, such as the Strategic States Model and business strategy alignment with HRM strategy. Students are expected to analyze these concepts and apply them to practical business situations, demonstrating their grasp of how strategic management influences organizational performance and success.

BUSINESS STRATEGY FORMULATION IN TATA
STEEL IN EUROPE

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1: REPORT...........................................................................................................................3
1.1 How business mission, vision inform strategic planning......................................................3
1.2 Factors considered while formulating strategic plans...........................................................4
1.3 Effectiveness of techniques used when development strategic plans...................................5
2.1 Strategic positioning of Tata steel Europe............................................................................6
2.3 Significance of stakeholder analysis.....................................................................................7
3.1 Analysing Appropriateness of alternative strategies relating to market entry, substantive
growth, limited growth or retrenchment.....................................................................................8
3.2 Justifying selection of strategies in terms of suitability, feasibility and acceptability..........9
4.1 Assessing roles and responsibilities of personnel in Tata Steel Europe............................10
4.2 Estimating resource requirements to implement new strategy for Tata Steel Europe........11
4.3 Contribution of smart targets to achievement of strategy implementation ........................12
CONCLUSION.............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Business strategy is associated with overall plans and policies being developed by
business with the motive to accomplish desired goals and objectives. Further, in the modern era
where businesses operate market has become challenging due top which companies are required
to develop effective strategies for their overall growth and development (Epstein, 2008). Apart
from this, mission and vision of every business is developed with the help of which it can be
easily known the main reason behind conducting overall operation. Moreover, different
strategies are being employed by companies such as market entry, substantive growth etc with
the help of which it become easy to carry out overall operations. The present study is based on
Tata steel where company is second largest steel producer with steel making facilities in Europe.
Business is indulged into practices of supplying wide range of steel, organic and metallic coated
products. Further, business has developed effective business strategy in order to successfully
operate in the market. Apart from this Tata steel operates on wider basis due to which each and
every strategy is being developed by analyzing the overall business environment. Various tasks
have been covered in the study which involves factors to be considered while formulating
strategic plan, significance of stakeholder analysis etc.
TASK 1: REPORT
1.1 How business mission, vision inform strategic planning
Mission statement of the enterprise supports in knowing its overall functions, market and
all other range of activities being carried out. Further, it highlights the reason for existence of
enterprise in the market. Moreover, vision of the organization is declaration of all the objectives
of the company which supports in taking different type of decisions (Ferrell and Hartline, 2010).
It supports in knowing what organization wants to accomplish in near future and in turn acts as
development tool for the business. Mission of Tata steel is to strengthen India’s industrial base
through proper utilization of resources such as materials and staff. Further, organization has
employed advanced technology to enhance overall productivity and this supports in
accomplishing overall objectives (Thompson, 2005). Apart from this, vision of enterprise is to be
global steel industry benchmark for value creation along with corporate citizenship. Overall
goals and objectives of Tata steel are enhancing market share along with profitability, expanding
product base, increasing global presence etc. Apart from this, core competencies of the
organization involve research and development activities, product expansion, strong financial

base etc. All these competencies directly contributes in strategic planning of the business.
Further, large numbers of plans are being prepared by enterprise where vision, mission along
with strategic planning assists in development of such plans which enhances market performance
of the entity in every possible manner (Ohnson and et.al .,2013). Apart from this, market where
organization operates is highly competitive due to which strategic plans provide base in
competing with other firms on continuous basis. Mission and vision of Tata steel totally relies on
the long term aims of the business where each and every area of business contributes in
achievement of desired objectives and has supported company in gaining competitive advantage.
In short without setting overall aims and objectives it is not possible for company to indulge into
practices of strategic planning and it can lead to decline in overall level of performance
(Rothaermel, 2015). On the basis of overall objectives plans are modified by Tata steel and it
influences overall performance of entity. Apart from this, long term objectives of Tata steel
highlights that company wants to expand its share in the steel industry and have to offer highly
differentiated products to its target market. So, this is also one of the most integral parts of
strategic planning which only takes place by forming mission, vision, long term objectives
(Malerba and et.al., 2015).
1.2 Factors considered while formulating strategic plans
Strategic plans are most important for company and by forming the same it becomes easy
for organization to focus on its overall goals and objectives. Further, development of strategic
plan is not at all easy for business and it requires consideration of large number of factors.
Following are the key factors which Tata steel has to consider at the time when strategic plans
are prepared and they are:
Need and expectations of customers: Company has to clearly identify the actual
requirement of the target market. Further, steel and other type of products are being used in
commercial properties due to which target market of business is somehow different. Moreover,
Tata steel has to ensure well in advance what type of steel customers prefer to purchase and on
the basis of same strategic plan is being developed by the organization for its future growth
(Spender, 2014). Apart from this, main priority of company is to enhance customer satisfaction
as its absence can bring unfavorable results for enterprise in the market where it operates.

Efficiency of the workforce: It is necessary for staff members working in Tata steel to
identify whether its workforce is efficient enough in formulation of strategic plans or not.
Further, in case if organization is having efficient workforce then it highlights that plans can be
easily formulated along with this its implementation is quite effective of organization (Taylor
and et.al., 2013). Therefore, it is also regarded as one of the most crucial factor at the time when
strategic plans are being developed.
Business environment: It is necessarily required for Tata steel to analyze the
surroundings where it operates. Further, large numbers of challenges are being present such as
competition along with legal barriers which prevents company from accomplishing desired goals
and objectives. Due to this reason development of effective strategy is must so that business can
easily operate in the market and in turn it becomes easy to deal with the hurdles affecting overall
performance (Yudin and et.al., 2014). Apart from this, business environment consists of various
components and due to this reason identifying such components leads to favorable results for
company in every possible manner.
So, these are some of the most important components which need to be considered by
Tata steel at the time of formulating strategic plans and same leads to favorable results for
business operating in the market. Through appropriate plans long term performance can be
enhanced easily (Bederr and Chen, 2015).
1.3 Effectiveness of techniques used when development strategic plans
Different types of techniques are being present with the help of which business can easily
develop strategic plans and it has positive impact on overall performance.
SWOT analysis is regarded as one of the most effective technique with the help of which
business is able to identify strengths along with weaknesses in the internal environment (Longoni
and Cagliano, 2015). Along with this, opportunities and threats in the external environment can
be identified easily. Overall strength of Tata steel allows company to indulge into practices of
better strategic plans and in turn business is able to gain competitive advantage with the help of
this. Moreover, through this tool it becomes easy to identify the range of opportunities along
with threats present in the external surroundings and same supports in enhancing overall level of
performance (Santos and Baptista, 2015). Without undertaking this tool it is not at all possible
for organization to undertake any type of strategic plan and can lead to unfavorable outcomes for

business in the market. Moreover, SWOT analysis represents the real capabilities of business in
the market along with the ways through which better plans can be prepared by company easily.
Another model which is being considered by business is PESTLE analysis with the help of
which it becomes easy to develop strategic plans (Parnell, 2010). PESTLE analysis as a tool
highlights the range of factors affecting business performance such as political, social,
economical etc. Apart from this, all these are key factors which influences overall performance
of business in the market and allows in performing better if all the factors are undertaken while
developing strategic plan fruitful for the business. PESTLE analysis as a technique is considered
to be most effective for Tata steel as organization carries out overall operations in the market
where large number of factors are present which influences business performance and
management has to take corrective measures so that such factors may influence its operations
positively (Ghezzi, 2013).
BCG matrix is another significant model which will help the company in analyzing the
current position of the business in the competitive market. This model will help the business unit
in analyzing the current position of the company. Tata steel can adopt the stated model in order
to analyze the growth share of the business. Tata has managed a large portfolio and in order to
efficiently manage the business operations of the company. This model will help the firm to
analyze the business operations of different SBU on the basis of market growth rate of different
sector and relative market share analysis. This will help the company in developing business
strategies accordingly. However wide and significant research is demanded in the strategy as
different SBU has different performance aspect. Tata steel UK will need to invest high budget
for developing different strategies for different businesses. Moreover unreliable information may
lead to ineffective results for the business as well. Hence it may be concluded that BCG Matrix is
an effective measure to develop strategic development measures for the business however
investment in terms of cost and time demanded is very high.
Application of McKinsey matrix will be also applied for analyzing the effectiveness of
business operations on the basis of factors such as business strength and market attractiveness.
This will help the company in analyzing the aspect of improvement demanded in the business
and thus strategies will be developed for the same. The application of the stated model will help
Tata steel in determining different strategic implementation for business growth and

development in the competitive economy. The stated strategy is an effective tool to strengthen
present business performance in a significant manner. However expert and highly experienced
consultant is needed to attain clear results for the business portfolio. In addition, synergizing
current business activities with strategic options developed demands high investment in terms of
time and cost.
These stated techniques are most effective for Tata steel especially at the time when
strategic plans are being developed by business and in turn it has favorable impact on
organization in every possible manner. Apart from this, it can surely lead to positive benefits
such as rise in market share along with profitability level of the business. At the time of
considering various tools business has to identify its disadvantage so that it is possible to attain
favorable outcomes (Pehrsson 2007).
2.1 Strategic positioning of Tata steel Europe
In order to understand the real strategic positioning of Tata steel in the market it is
necessary to carry out organizational audit where SWOT analysis has been considered as one of
the major tool.
Strengths
 Excellent integration with corus where more than 2000 metallurgists are being present.
 Presence in more than 50 counties along with operations in 26 nations worldwide.
 Around 14 million tones are raised from captive collieries iron ore mines and quarries.
 Well established brand name in the market.
 High control over raw materials (Allio, 2006).
 Strong financial base. Ability to meet with the challenges present in the business environment.
Weaknesses
 Lack of technologically advanced tools employed. Ineffective operational efficiency.
Opportunities
 In the market of Asia and Africa company can easily acquire coal blocks.
 Presence of advanced tools such as corex process, hismelt process etc acts as
development tool for the business.

 Presence of public private partnership (Alsudiri, Al-Karaghoul and Eldabi, 2013).
Threats
 Increase in prices of coal.
 Rise in level of government legislation along with laws.
 Rising international competition.
 Presence of violent agitation in India against land acquisition (Veiga and Franco, 2015).
So the overall SWOT analysis being carried out supports in organizational audit of the
Tata steel. Further, the overall strengths of the business is supporting in grabbing the range of
opportunities being present in the business environment. Apart from this, organization is able to
deal with the major threats affecting its overall operations in the market.
2.3 Significance of stakeholder analysis
Stakeholder refers to the parties which are associated with the business and they are
influenced by the decisions taken by the management. Further, different types of parties are
associated with Tata steel and due to this reason business has to identify their needs for
enhancing performance in the market. Stakeholder analysis will help the company in evaluating
and analyzing the business performance and growth within the market. Different stakeholders
have different level of power and interest in the business. Stakeholder analysis helps in
determining the strategies needed to attain the needs and demands of the crucial stakeholders in
order to successfully carry out the business operations. This strategic aspect helps the business in
developing well defined measures to analyze stakeholder’s requirements and helps in developing
effective measure to implement the same within the business. It has been analyzed that
stakeholders build a strong network for the business and contributes in finding a well-defined
measures to carry out business operations in an unrestricted manner. Stakeholder analysis helps
in identifying the major stakeholders and strategies which could be adopted to manage them and
develop effective communication measures with them.
Stakeholders of business are suppliers, banks, employees, customers, government etc
(Stan Abraham, 2013). Moreover, need and requirement of every party differs from each other
due to which effective strategies are required for satisfying need of every party. With the help of
stakeholder analysis organization can easily identify what are the actual expectations of every
individual and how they are influenced in case if any new strategy is being implemented by the

organization. In case if Tata steel plans to implement any new strategy then it will have direct
impact on all the parties associated with the organization (Braun, Latham and Porschitz, 2016).
Especially management along with investors, government etc are the main parties who are
affected in case when new strategy is implemented by the organization. Therefore, Tata steel is
required to develop effective plans so that overall performance of the company is positively
affected through introduction of new strategy in the workplace. Apart from this, business is
required to identify the interest of every party in the affairs of organization as its absence can
surely lead to unfavorable results for business in the market such as decline in customer
satisfaction level etc ( Akhtar, Lodhi, and Khan, 2015).
3.1 Analysing Appropriateness of alternative strategies relating to market entry, substantive
growth, limited growth or retrenchment.
Tata Steel Europe can analyze appropriateness of alternative strategies regarding market
entry, substantive growth, limited growth and retrenchment. It is described below in the points.
Substantive growth: Management of organization can consider this method for better
planning of strategy. Substantive growth is divided in as vertical, horizontal, related and
unrelated diversification strategies. Tata Steel Europe can utilize horizontal process for making
effective strategic plans. In addition to this, corporation can consider merger approach to expand
its operations in United Kingdom (Yuliansyah, Rammal and Rose, 2016). In the this method
process, two enterprises are merged together to enhance its business operations in global and
national market. Tata steel and other firm can develop approaches to add better values which can
support in selling more steel in the current market. Other than this, Merger method can aid the
organization to raise its income and revenues of its steel by using both organizational resources.
On the other side, it produces delay to make any product development decisions because consent
of both directors are necessary to conduct any business activities at the workplace. So these
activities create complexities to manage organizational operations effectively in the market
(Cheng, 2013).
Limited growth: In this process, Tata Steel Europe can consider many strategies to
expand its business in United Kingdom. For this, corporation can utilize market penetration and
new product development strategies in the market. As per present trend, enterprise can choose
new market penetration approaches to enhance its sales of the steel products and services. This

method can help Tata Steel Europe to increase its sales and market share in UK. In addition to
this, it can aid the organization to enhance its profit in the present sector (Murthy, 2012).
Furthermore, It can support the management of corporation to increase its brand value and image
front its corporate clients within manufacturing sector. Furthermore, it aids the Tata Steel
Europe to develop better business strategies. On other the side, Implementation of strategies are
very typical which creates complexities to manage its operations which can create complexities
to expand its business (Wang, and Shyu, 2008).
Retrenchment: Generally, Tata Steel Europe uses this kind of strategy in recession
period. This method can support the organization to decrease reduce its expenditure at the
workplace. The main reason behind to use this strategy is to reduce their employees due to low
sales and profit. In addition to this, it creates issues to provide monthly or weekly salary of many
employees at the workplace (Kim, 2016). So, management of Tata Steel Europe terminate its
staff members to handle business activities in the recession period. On the other side, it produces
negative image front of people and staff members which create impact on sales and market share
in the market.
Market entry strategies: It is also of important strategies which is used by organization.
This process aid the Tata Steel Europe to spread its steel business activities in the manufacturing
sector of United Kingdom. There are many market entry strategies like merger, partnership,
licensing, acquisition, joint venture which can aid to expand its operations in a appropriate
manner. In addition to this, Tata Steel Europe can choose licensing or acquisition strategies to
open new branch in United kingdom (Arnstorp, 2013). On the other side, these strategies also
produce many complexities for the organization due to legal and other rules and regulation in the
nation.
3.2 Justifying selection of strategies in terms of suitability, feasibility and acceptability
There are many reasons to select market entry strategies which can aid to expand the
business of Tata Steel Europe. The most effective strategy which may helkps the business in
effectively exploding the business operations and enhancing growth and develop ment aspects
for the company includes market entry strategy. Mainly, management of corporation should
select licensing method to expand its business in market of UK. Furthermore, justification of this
strategy are represented as follows.

Acceptability: Market entry in Britain is acceptable for management of Tata Steel Europe
because financial condition of organization is effective. The sated strategy will enhance market
share widely as UK is a high profitable economy for the company. Moreover, the cost of
establishment will be low as business is already operating in the selected segment. So the firm
does not need any partner to expand business operations in manufacturing sector. Due to this
reason, Tata Steel Europe can implement the selected strategy in the United Kingdom. Along
with this, corporation has effective knowledge regarding steel manufacturing sector which aid to
increase its sales and revenues (Swayne, Duncan and Ginter, 2012).
Suitability: Generally, market entry strategy is suitable for management of Tata Steel
Europe because corporation already is operating in the European market. Developing market in
Britain will help the company in creating a well-defined impact on the growth and sales aspect of
the business. UK has a great potential in terms of demand and growth. The action will synergize
with the current business objectives which will help the company in attaining high and profitable
growth aspects for the future as well. In addition to this, organization has effective experience to
manage its operations in international market in a appropriate manner (Johnston and Bate,
2013). Furthermore, corporation has many resources which can aid to assess the foreign
manufacturing sector to increase its sales in the United Kingdom. In addition to this, employees
of organization is also capable to make effective strategies which contribute effectively to
establish its business in United Kingdom (Ward and Peppard, 2016).
Feasibility: Mainly, market entry in UK is feasible for Tata Steel Europe due to its
existence in the European market. In addition to this, brand value and image can help the
organization to increase its sales in UK market. The established corporate operations of the
business has helped the business in developing a sales base for the firm. The selected business
operations will help the company in attaining effective business results. This process can aid the
corporation to its complete goals and objectives in present manufacturing sector in a appropriate
manner. In addition to this, Tata Steel Europe has appropriate knowledge about rule and
regulation of United Kingdom due to presence in European market from several years
(Burgenmeie and Mucchielli, 2013). This efforts can provide better flexibility to enter in UK
market through licensing method effectively.

4.1 Assessing roles and responsibilities of personnel in Tata Steel Europe
There are many roles and responsibilities of personnel like marketing, human resource
and financial manager regarding strategy implementation in United Kingdom. Some of them are
described below in the points.
Marketing managers: Marketing managers help Tata Steel Europe to accomplish roles
and responsibilities in a systematic manner. For example, They aid the organization to give better
report in respect of different marketing factors such as need and requirements of corporate in the
market. In addition to this, these factors support the management of Tata Steel Europe to
execute the market entry strategies in the present sector (Ferrell and Hartline, 2010). Further,
they also aid in making promotional, customer service as well as competitive strategies in the
manufacturing sector of United Kingdom.
Finance managers: Financial managers are also major part for execution of strategies in
the market. For example, they are responsible for giving proper financial information such as
insurance policies, investment, arrangement of monetary funds through loans and retained
earnings as well as knowledge about taxes, tariffs in present sector (Ohnson and et.al .,2013).
Other than this, they also prepare different type of statements such as debt-equity, cash reserve
ratios and other income statement for board directors of Tata Steel Europe. This financial
information play important role for the top level managers of organization to execute strategy in
a systematic manner within market.
Human resource mangers: Generally, HR manager contribute effectively for
management of Tata Steel Europe at the workplace. Along with this, they are associated
regarding implementation of strategies because they give appropriate human and other
resources to manage its operations. For this, they hire and train employees which aid to enhance
increase probability of success in respect of strategy implementation in the market (Malerba and
et.al., 2015). In addition to this, these activities help Top level directors of Tata Steel Europe to
implement strategies strategies in a appropriate manner.
4.2 Estimating resource requirements to implement new strategy for Tata Steel Europe
Corporation needs many human, financial as well as technological resources to
implement market entry strategy in the United Kingdom.

Human resource level: management of Tata Steel Europe need different kind of human
resources such as higher, middle and operational managers, IT employees as well as international
experts to execute licensing strategy in the UK (Taylor and et.al., 2013). For example, top level
managers aids Tata Steel Europe to make strategy and rules and regulations for market entry
strategies at the workplace. In addition to this, Middle and operational level managers supports in
implementing proper business activities which are essential for Tata Steel Europe at the
workplace (Johnston and Bate, 2013). Other than this, international experts and legal advisers
contribute effectively to give knowledge about global barriers, taxes and tariffs which aids in
designing proper business approaches to top level managers. Along with this, IT employees of
Tata Steel Europe also provides their effective efforts to handle IT activities which aids in
executing licensing strategy in United Kingdom (Yudin and et.al., 2014).
Technological level: Tata Steel Europe needs various kind of technological resources to
execute licensing strategy in the present sector. For example, management of corporation can
consider ERP (Enterprises resource planning) to handle its technological activities at the
workplace. This tool play important role for Tata Steel Europe to extract appropriate information
of market which aids to take better decision in the market. In addition to this, it can support to
enhance efficiency of corporation which can give better aid to implement market entry strategy
in United Kingdom (Longoni and Cagliano, 2015).
Financial level: Management of corporation needs financial resources like monetary
funds for investment plan in the market. For example, financial managers of Tata Steel Europe
can handle its monetary funds by unused fixed assets, taking loan from bank and selling scrap
which can aid to execute licensing strategy in the UK (Santos and Baptista, 2015).
4.3 Contribution of smart targets to achievement of strategy implementation
SMART targets are being developed by business with the motive to enhance market
performance of the business. Further, it provides proper direction to the company and in turn
challenges prevailing in the business environment can be tackled easily. By setting proper targets
it is possible for Tata steel to implement the strategy of market entry in appropriate manner and
this can surely bring favorable results for enterprise in the market (Alsudiri, Al-Karaghouli and
Eldabi, 2013). SMART objectives being developed by Tata steel are as follows:

Specific: The main objective being developed by company is to enhance profitability
level along with market share in the new market by 15%. This objective is linked with overall
performance of the business and by accomplishing this aim it is possible to become market
leader (Veiga and Franco, 2015).
Measurable: In order to measure accomplishment of this objective business will compare
present profitability level with the past.
Attainable: This aim can be easily accomplished by Tata steel as company is quite strong
and through appropriate marketing along with other strategies company can attain this objective
(Braun, Latham and Porschitz, 2016).
Realistic: Tata steel carries out all the operations on wider basis and business posses
capability to implement large number of strategies. So, to accomplish this objective is quite
realistic for Tata steel
Timely: Around time period of 1 year is required to accomplish this objective. Firstly
Tata steel is required to understand the specific requirement of its target and on the basis of same
business is required to indulge into practices of product development (Jenkins and Williamson,
2015).
Therefore, in this way the SMART objectives being developed can assist Tata steel in
performing better where organization can efficiently implement the new strategy and it can lead
to favorable outcomes for business in the market such as improvement in overall performance.
Apart from this, it will become easy to focus on the actual needs of the target market and same
can be satisfied in efficient manner by the organization (Swayne, Duncan and Ginter,2012).
CONCLUSION
From the report, it is found that mission, vision, goals and objectives of Tata Steel
Europe aids the organization to make better strategic plan at the workplace. Furthermore,
different factors supports the corporation to formulate strategies in a systematic manner.
Organizational audit guides the Tata Steel Europe to analyses strategic positioning effectively at
the workplace. In addition to this, Significance of stakeholder analysis aids the organization to
make new strategic strategies in better ways. Environment and legal factors affect the Tata Steel
Europe to establish its business in the United Kingdom. Furthermore market entry strategies play

important role for organization to expand its business. Roles and responsibilities of marketing
managers aids the corporation to implement licensing strategies in the Britain. Financial,
technological as well as human resource level requirements helps the organization to execute
strategy effectively. It can be concluded that SMART targets contribute effectively for
management of Tata Steel Europe to implement present strategy in a appropriate manner.

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