Corporate Governance and Sustainability in Emerging Markets

This assignment content is a collection of articles, books, and reports on various topics related to business, corporate governance, sustainability, and strategy. The sources cover issues such as emerging market global players, corporate social responsibility, carbon management, talent management, quality management, and the impact of globalization on corporate success.

GLOBAL CORPORATE STRATEGY
STUDENT NAME:
STUDENT ID:
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Table of contents
Introduction......................................................................................................................................3
Merits and demerits of Integrated and portfolio organization perspectives....................................3
Technological and Business model innovation in strategic alliances..............................................5
Corporate governance and leadership sustainability with CSR.......................................................7
Personal reflections..........................................................................................................................9
Conclusion.....................................................................................................................................10
Reference List................................................................................................................................12
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Introduction
Formation of a particular strategy in business is the most important point for development and
expansion of business in multiple spheres. It is the building up of a suitable strategy including
targets and objectives which are needed for a company to achieve desired success. The firm
which is chosen in this prospect is Tata steel, which is a global manufacturer of steel and is
among the top ten leaders in their sphere. In this process evaluation of a particular business,
entity is taken for this assignment and those merits and demerits of a portfolio and integrated
perspective of competition is measured in relation to the chosen firm. Then the ability of this firm
to deploy intelligent technologies and innovations are analyzed. After that, the CSR perspective
of this particular company and its contribution towards success is evaluated. Finally, the personal
viewpoint is presented. Herein the topic is about global strategies which this particular entity
develops for expansion and gaining success in business (Tatasteel.com, 2017).
Merits and demerits of Integrated and portfolio organization perspectives
In this respect, two distinct models are determined for application in the business model of the
company. The first model is the strategic portfolio perspective for organizational success. Any
successful entity like this one which is mentioned in this scenario develops strategies and choices
which enable them to implement activities and delivery of a distinct vision for the firm. This
formation of choices is known as a strategic portfolio. The decisions which are taken create an
impact very significantly for the success of the firm. Sapinski (2015, p.271) agreed that all those
actions and strategies which are taken by the firm are according to the strategies which are
potentially developed in the portfolio. This includes business as usual activities and initiatives of
transformation. This helps in improvement of services towards customers and growth and
expansion of business in a new dimension of the globe.
Merits:
The main advantages of this model for this entity are that it is much focused, structured, result
and objectives-oriented. Sethi (2016, p.35) suggested that this is also highly engaging and
catalytic in its approach. The strategies are developed in the initial phase of business thus the
operating plan and execution of the business are benefitted.
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Demerits:
The main disadvantage of this particular model is that whenever this particular process gets stuck
it gets very difficult for the entity to shift from the available procedure. When it is not connected
with the formation of the strategic direction of business, it makes the overall structure weaker.
When a large scale firm gets associated with this model sometimes it gets bogged down.
The second model which is available in this respect is the integrated portfolio model of
management of business. Various major institutions of the world apply the project portfolio
concept in business. Peng (2013, p.36) opined that it is because it simply helps in consolidation
in reporting and in decisions management as well as reallocates project resources for an
alleviation of problems. This is a long way distanced from the actual targets which can be
achieved. These shortcomings of business which is discovered in this process can be overcome
from the integrated perspectives of management.
This particular model can be applied for analysis and diagnosis of the firm. According to
Rothaermel (2015, p.63) this model is considered as the simplified version of the complex
realities where various aspects influence one another. This model helps in answering all those
relevant questions which are posed. Another aspect of this model is that it depends to a large
extent on various situations and the ability of the users according to their know-how.
Merits:
The main advantages of this particular model are that it increases several subordinate criteria of
the organization where it is applied. The suitability of the firm gets developed and thereby it gets
fit for carrying out various kinds of activities which are specifically delivered. Marquis et al.
(2016, p.498) stated that the company gets legitimate for the environment and gets adequate with
other organizations and public groups. This also helps in increasing the effectiveness of the entity
in the global sphere. Milne and Gray (2013, p.18) agreed that the company gets much more
flexible and efficient in this prospect. And finally, it helps sustainability and continuity of the
company for a longer period of time.
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Demerits:
The main disadvantage of this model is that sometimes the attitude does not fit with the culture
and priorities of the entity. Another disadvantage is that this attitude makes the company slow
and unfounded and not acceptable.
The application of both these model is highly challenging for the mentioned entity. However, if
this two models can be applied within the prospect of the firm, this will no doubt be very
effective and beneficial. As stated by Keyes (2016, p.42) this is because it will cover each and
every aspect of competition which are taken care of by this type of entity for conducting
business. This is ultimately going to help the company to overcome all those factors which were
hampering the company. As highlighted by Kleinbaum and Stuart (2014, p.22) the management
capacity of this entity will get increased and the firm will get recognition in global business.
Technological and Business model innovation in strategic alliances
There are two distinct methods in the development of growth strategy. Those two pillars are a
formation of alliance and merger and acquisitions. However, it can be seen that those major
entities like this one which is analyzed, does not hold these two models as two different
prospects. They consider those two elements as one specific criterion and thereby goals are
attained. In order to complete the overall process of merger and acquisition, those companies
have to form an alliance with those firms. Thus it is considered as the collaborative effort in
making both ends meet.
However, in theoretical aspect, those two terms are completely different in courses. In order to
form an acquisition with another company, several spheres are to be kept in mind. The market
prices, competition in the market, risks which are oriented with the process are calculated. In the
formation of alliances the negotiation aspect, cooperative, scale of a partnership is considered as
the top priority. Companies, which habitually forms an acquisition for increasing its sale and cut
the cost of expenditure takes into account all those necessary criteria. As agreed by Klettner et al.
(2014, p.151) this is mostly done in this contemporary business sphere mainly to enter a new
market from existing market. This helps the new entrant company to increase the customer
segment and acquire a new market as well as increase the customer base in those new territories
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of business. This particular entity mainly performs both, the acquisition and merger as well as
formation of an alliance with other companies while conducting business. This helps in
flourishing its business in various dimensions and creation of impact on the existing customers of
the new region.
In the formation of an alliance with other business entities, this company gives close attention on
Blue ocean strategy. This is a very important strategy for entering a new field of business.
Jasimuddin and Maniruzzaman (2016, p.387) said that this particular model has been developed
by W. Chan Kim for expansion of companies in a new dimension. This is observed that when the
competition in the existing market gets increased, those companies which are facing loss or the
revenue generation gets decreased, they generally apply this particular strategy for surviving in
the market. This strategy highlights that, when the existing business gets stuck and there is no
scope for improvement in the same market with a higher chance of increasing in the number of
competition, company forms an alliance with another company from another region of the world
and gets to expand its business by entering a new market. Herrera (2015, p.1471) agreed that this
helps in providing some newer opportunities and scope for development and survival as well as
an increase in revenue in global business prospect. This is also very helpful in merger and
acquisition perspective as well. This is a more new concept of formation of the partnership and it
is very simple for understanding. Grant (2016, p.14) stated that two companies which are both
successful in their respective spheres get merged so that they can enter their individual business
market and thereby both the business firms get a taste of success. This helps both the company to
increase their revenue and gain business advantage in the new market area. Mergers mostly take
place between two different scale firms and are separately owned and operated. The concept is
that two different companies together increases their individual values from two separate entities.
However, sometimes the same type of firms also gets merged to take their individual business
forward and explore new regions of business.
All this process of mergers and acquisitions, as well as the formation of the strategic alliance,
helps this studied company in exploring new markets, inducting newer products in those markets
and increasing their revenues accordingly. This company has its higher resource capacities as
well as development capacity of new and intelligent technologies so that their production unit
gets benefitted from it and expands its business. According to Fojcik (2015, p.151) it is highly
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capable of embracing new technologies in their existing business. This will help them in
achieving their intended aims and targets. In order to perform those steps effectively, they can
utilize business innovation model. It is a very important strategy which demands neither new
technologies nor the creation of a new and improved market. It is all about delivery of existing
products which are produced by using existing technologies. This process, however, needs a
strong framework and identification of opportunities in business. It is highly systematic in this
approach. This also involves keeping close attention towards overall outside market and bringing
advantage which is hard to replicate. This process enables the business to progress in the market
by calculating all those risks which are involved in bringing new products. This helps in
calculating all those steps which are taken and thereby risks which are involved in this process
get minimized. Whenever a new product is introduced in the market, commonalities are
measured within the market. This helps in determining the chance, sale and revenue generation
of the product.
This entity has considered this process of business innovation model when it has added the new
product called Pravesh in their market. This has helped them generating a positive response in
the market and satisfying the customer needs and demands (Goetsch and Davis, 2014, p.37). In
the global market of steel where all its competitors are facing a lot of challenge due to a shortage
of demand, this particular entity has flourished to become one of the top revenue generators on
the market. Farndale et al. (2014, p.208) said that it has effectively used the Blue ocean strategy
for completing the mergers and acquisition as well as the formation of alliances. This has helped
them to increase their market area for this product which they have launched. Apart from that,
they have applied the business innovation model for capturing the existing market and
developing a strong strategy for this particular product.
Corporate governance and leadership sustainability with CSR
The main idea of corporate governance is the appropriate technique which is applicable for
governance of a corporate agency. Aguilera and Crespi-Cladera (2016, p.53) opined that it is the
ways in which the companies are managed and directed properly. The board of directors and the
stakeholders perform the business activity by means of cooperation and gaining long term
benefits. It involves constant interaction between various participants including the top
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management stakeholders and directors for proceeding towards growth. A good structure in
corporate governance is very beneficial for the company by increasing the economic growth. It
also enables a strong corporate confidence within the investors and thereby a good impression is
developed in the market about this company. It also minimizes the chance of risk, corruption and
wastage.
Corporate social responsibility is an essential perspective of doing business. Cornelissen (2014,
p.91) agreed that it is an integral part of a business which performs as a self-regulatory
mechanism whereby it ensures that it is actively participating with the rule of the law and
guidelines which are set by the government of a country. It refers to certain ethical standards and
norms which are followed by the entity. This process generates an impact on the society while it
is doing business in the locality. Doda et al. (2016, p.265) opined that it is an approach in
business which helps in producing economic, environmental and social benefits for the overall
entity. This is a very broad concept which includes human rights, health and safety and
environmental aspects together with working conditions and economic development. The
concept of sustainability and corporate governance is deeply linked with this prospect for
conducting business in this field. This particular entity performs their business taking this
criterion as the most crucial aspect and thereby it constantly maintains the level of success and
growth and an appropriate advantage among its competition.
The concept of sustainability, when applied to the management of business perspective and
management, is known as sustainable management. There are three associate steps in this
approach. They are environmental, economical and generational effects. According to Chen et al.
(2014, p.41) it is by applying those approaches the company generates an ability to thrive and
maintain nourishing needs for the present as well as future generations with limited chance of
depletion. Unlike this firm, most of the companies do not follow sustainability management. This
is mainly because it requires a lot of cost for effective implementation as well as shareholders
disinterest. However, executives hold that it is an important aspect for bringing variety in
corporate activity. This is because it holds a lot of consequences which are mostly long term
impact in the manufacturing industry are considered. This is also very crucial in the competition
perspective. This is because it makes the company develop more innovative products and
services so that it maintains a positive standard in the overall business market. As per Droppert
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and Bennett (2015, p.15) the demands of the consumers are becoming much more which has not
been felt in previous business prospects. Thus various critics and experts suggest that it is a very
important sphere of business because it is improving the chances of surviving in the market.
Apart from that, it is also very effective in building a long term strategy and improves the
confidence level of the investors and shareholders. As stated by Beaverstock (2017, p.230) this is
because a good impression gets created among them. All those ethical guidelines and practices
improve the business environment of the company and thereby encouraging bigger profits and
growth factors.
Leadership is broadly considered as the ability of the firm to create an impact and influence the
overall company for achieving success. There are several factors for this approach. It is also
considered as that factor which cannot be generated by practice. This is considered as an inherent
quality or an inborn talent of the leader. Compact (2013, p.26) said that it is the leader which
takes the firm towards success by complying with all those essential factors or norms in business.
It is the duty of the leader to check the progress and evaluate the functioning of the entity from
time to time. The top management of this firm ensures that appropriate guidance is provided to
the employees so that misunderstandings do not develop within the workers. Thus the workers
can work in an independent manner and thereby a good work structure gets created within the
organization. As per Cavusgil et al. (2014, p.44) it is very dynamic or charismatic in its approach
and thereby a sense of energy gets circulated within the organization. The inclusion of new and
innovative technologies in the working sphere for this company needs to be making use by the
workers. This can only be done if the management holds a clear point of view about the working
principles of the company. As per Altuntas and Turker (2015, p.15) The management has to
make all those working strategies clear to their workers and the process of using those new age
technologies have to be clearly understood to them so that a healthy work structure gets
generated. This will ultimately help in generating profit within the company and increase the
revenue products and services.
Personal reflections
After completing all those desired stages in this assignment I developed a strong perspective
about the working procedure of the global steel producing industry. The level of competition in
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this sphere is very stiff and thereby those top manufacturers have to develop very strong policies
and principles for holding its ground in this ever changing market. The rise of competition is also
tackled by this entity by applying various new theories and models. This is enabling them to
process all those strategies before and after launching a brand new product in the market. Several
strategies are also applied for capturing the existing market as well as taking a footstep forward
towards a new market. The merging and alliance formatting strategies which are followed by this
company helps to evaluate its competition. Besides this, the responsible practices and policies
which are taken to overcome the crisis situations and attain sustainable growth within the
company structure can be studied in this process.
The application of corporate governance and CSR policies which are taken in this company helps
in gaining knowledge about all those steps within the company structure. It helps me gain
knowledge about all those aspects which are covered by this company for following corporate
responsibility in the new as well as existing market. The cultural and social aspects which are
very important spheres for expansion of business is followed and effective measures which are
taken for overcoming the situations in the market can be understood in this respect.
It can be discovered through this assignment that by covering all those aspects and policies, this
particular entity has been conducting its business very successfully in the overall steel producing
market in the global sphere.
Conclusion
It is concluded that in business principles of this organization the building of strategy is very
important for taking this overall entity towards global success. All those plans and policies which
are developed by the top management to take the overall entity towards success are known as
global corporate strategy. Maintain a healthy relationship with the corporate world consists of
various factors. All those factors which are considered while taking steps and carrying the
company towards success. This particular entity which is a very successful firm when business
performance is considered. This is mainly because this firm generates a very strong corporate
strategy both long term and short term so that every aspect gets covered. In a development of
strategies, they follow all those rules and principles as well as guidelines which maintain a
healthy work environment and a competitive relationship with rival entities. A solid
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infrastructure enables them to introduce innovative strategies and work in a flexible manner.
Thus it may be concluded that this corporate agency develops and follows all those required
policies and strategies for gaining success in their sphere.
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