Managing International Business

This report discusses the importance of managing international business for MNCs and focuses on Tata Steel's international business environment. It includes a comparison of stakeholder interests and provides recommendations for the company. Find study material and solved assignments on Desklib.

Managing International
Business

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Statement of Purpose...................................................................................................................3
Comparison of Stakeholder Interests...........................................................................................4
Recommendation.........................................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Managing international business is the most necessary task to the MNCs (Multi National
Corporation). By properly managing business at the international level, a company can easily
gain high profit in the international market. This report discusses international business
environment of Tata Steel. Comparison of stakeholder (workers) interests also has included in
this report. Some effective recommendations for the company also has mentioned in this report.
MAIN BODY
Statement of Purpose
A multinational company always face various issues in their international operations.
During facing those issues, many times top-level management of company takes various steps
towards solving those issues. In case, if business not find any appropriate way to solve those
issues, then many times existing management of business decides to stop their operations in
market. There is same thing in happening with Tata steel company (Van Hien Nguyen and
Philippe, 2019). Currently company running their operations in Port Talbot. The Tate steel
operates its largest steel plant in this location, so currently there are many workers are working in
this plant. Now the top-level management of company wants to take some productive decisions.
Currently existing management has not decided that should continue their operations in Port
Talbot or not. In this situation, this is the prime duty of management to communicate their
stakeholders to take favourable decisions.
The upper management should involve their workers in their decision making process,
because if company will decide to stop their operation in this location, then this decision can
negatively affect their workers. That’s why management need to involve their workers to find
out a productive way to deal with current business situation. On the side, existing management
need to take proper advice from highly qualified business consultant. There is upper management
should build effective relationship with their workers, because many times a worker also gives
perfect opinion towards solving any issue or problem in international market. That’s why
involvement of stakeholder is too necessary each business condition.

Comparison of Stakeholder Interests
Existing workers of Tata steel in Port Talbot are very satisfied with their job role, so they
never want to lose their jobs in this place. In this situation, if management or shareholders of
company has decided to stop operation o company in Port Talbot, then these workers not agree
with this decision of management and shareholders (DeCusatis and Kamble, 2017). According to
workers, upper management of company need to take some effective decisions towards
systematically solve existing business errors.On the other side, shareholders of the company are
one the major stakeholders who always want to run business operations in productive manner.
Shareholders mostly not consider any other stakeholder of company, because they only think
about their profit. They always want to create a safe zone for their business investment. Each
shareholder always expects that their investment gives them effective return.
Most workers are always expecting from their company that, existing management will
develop or innovate such strategies which can run all business operations on progressive path. If
management develop some productive strategies, then it can easily solve various barriers within
international business operations. Workers always feel valued by company when existing
management involve then in decision making process. On the other side, shareholders are always
expecting from company that, management take such actions which provide effective return to
their stakeholders. Expectations of shareholders are also valid, because they are the only people
who provides specific fund to the company for running its daily operations.
Top-level management of company should take opinions of their workers, because they
are very big resource to company. Workers are those people of company who are day or night
working the daily operations of company. That’s why existing management of Tata steel need to
take such decision which provide job security to workers (Narayanaswami and Sangireddy,
2017). On the other side, the management of company is responsible to provide effective return
to their shareholders, because shareholders are always expecting effective return from their
investment. It short, workers and shareholders both are major stakeholders to the company, so
management need to make a specific plan to deal with existing business condition. There are still
many business techniques available for Tata steel which will help to this company to dealing
with different business conditions.

Recommendation
On the basis of analysis, chief operating officer of the company should not close down its
business operations in Port Talbot. Reason is, existing management still has opportunity to
perfectly deal with current business conditions. These are some common business challenges or
barriers which almost each business or company faces in their business environment. The
company need to take some favourable steps towards dealing with these situations which it
currently is facing in their business environment. Top-level management of Tata is responsible to
find such productive ways can positively affect their workers and shareholders. Reason is, these
are some major stakeholders of the company which always gives their great contribution in all
over growth of company.
Currently management is able to take some appropriate advices from highly qualified
business consultants, because they always give proper suggestions (Fawcett, 2019). The
management should properly listen their all stakeholders before taking any decisions, because
many times workers of the company also give some innovative solutions. That’s why company
need to know opinions of their workers and shareholders. On the other side, when management
will listen their workers, then workers will feel valued by management. There are proper
communication skills is the best key for company to systematically listen opinions of their
workers and shareholders. The company should build an effective relationship between all
stakeholders, because this step of company should promote positive work culture within their
business environment. these all factors will help to company for effectively running its business
operations in Port Talbot.
CONCLUSION
It can be concluded that a business who operates their operations in international market
is always facing different uncertainties, challenges and barriers. In this situation, top-level
management of a company or business should develop some productive techniques or strategies
to deal with different business situations in the international market.

REFERENCES
Books & Journals
DeCusatis, C. M. and Kamble, K.G., International Business Machines Corp, 2017. Managing
data flows in overlay networks. U.S. Patent 9. 692. 696.
Fawcett, B. W., International Business Machines Corp, 2019. Managing redundancy among
application bundles. U.S. Patent 10,389,794.
Narayanaswami, C. and Sangireddy, R., International Business Machines Corp, 2017. Managing
the purchase of multiple items with multiple modes of fulfillment. U.S. Patent 9,760,941.
Van Hien Nguyen, P. Y. L. and Philippe, J., 2019. 10 Managing International Joint
Ventures. Economic Transition and International Business: Managing Through Change
and Crises in the Global Economy.