Tata Steel Marketing Strategy
16 Pages5651 Words71 Views
Added on 2020-02-05
Tata Steel Marketing Strategy
Added on 2020-02-05
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Strategy 1
EXECUTIVE SUMMARYStrategy is linked with the overall plan along with the actions which supports organization tooperate efficiently in the market. Further, Tata steel of UK carries out operations in the marketwhere competition level is quite high and in turn large number of hurdles are present whichprevents company from accomplishing desired goals. Therefore, it has become important forbusiness for operate efficiently in the market. Further, external analysis has shown that variouschallenges have to be faced by business but its overall strength allows to deal with the range ofissues. Moreover, with the presence of strong financial base company is performing efficiently inthe market. Apart from this, some recommendations have been provided to the business such asfocusing on research and development activities along with the technological advancement so thatmore superior quality products can be delivered to the target market. Along with this, it can supportbusiness in gaining competitive advantage where large number of hurdles can be faced easily.Moreover, considering stakeholders in development of strategy can be beneficial for organization asfirm can easily meet with their needs in every possible manner. Therefore, in this way business canefficiently perform in the market where overall operations are being carried out. 2
Table of ContentsEXECUTIVE SUMMARY..................................................................................................................2INTRODUCTION ...............................................................................................................................5TASK 1.................................................................................................................................................5Analysis of the Tata Steel UK external environment and impacts its choice of strategic position 52. Analysis of the internal environment of the firm and its strategic position.................................73. Evaluation of the outcomes that shows Tate steel addresses innovation strategy.......................8RECOMMENDATIONS......................................................................................................................9SUMMARY ON THE IMPLICATIONS FOR STAKEHOLDERS BASED ON ANALYSIS.....10CONCLUSION..................................................................................................................................12REFERENCES...................................................................................................................................133
INTRODUCTION Strategy is the direction to run business in the long run to fulfil the needs of stakeholders.This is planned by company to achieve the goals under dynamic environment of market (Hill,Jones, and Schilling, 2014). It also helps to indicate the available resources which are thedetermined actions to accomplish one or more goals of organisation. It is a high level thinkingprocess which is planned by the upper level of management. In strategy, organisation can conductvarious activities such as technical skills and recruitment and reward system in order to makeeffective environment at the work place. A method has been choosen to bring about desired futurechanges and also to solve the problem in the current situation (Ward and Peppard, 2016).Organisation involves activities such as strategic planning and strategic thinking for havinginnovation in the existing and new products.As per the given scenario, Tata steel is taken into consideration that identifies andappreciates the challenges faced by company. Tools and framework will be applied to determine thestrategic level in the company. After analysing, Tata steel can make a clear and innovative strategythat would explain different challenges that firms face in the competitive environment.TASK 1Analysis of the Tata Steel UK external environment and impacts its choice of strategic position Pestle model is used to analyse the external macro environment in which Tata steel operatesthere business activity. It is an marketing tool which monitors the various factors and their impact oforganization. These factors are beyond to control or influence the business function (Slack, 2015). 4
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