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Tata Group's Innovation & Sustainability

   

Added on  2020-02-24

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RUNNING HEAD: INNOVATION AND SUSTAINABLE BUSINESS DEVELOPMENT1Innovation and Sustainable Business DevelopmentThe Tata GroupSubmitted by:
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The Tata Group 2The Tata Group is an Indian Multinational conglomerate holding company established byJamsetji Tata in the year 1868. The head office of Tata Group is in Mumbai, Maharashtra. It has gained global recognition after purchasing a number of international companies. The essay determines the innovative business model: E-business and IT, Strategy and Technology and innovation management.The Tata Business Excellence Model has been envisaged as a strategic direction to drive the business at Tata. The conglomerate aimed at developing the best global business process practice. The business process model developed by the group has an intrinsic dynamism to develop and keep in pace with the changing business performance structure. The primary objective of the Tata is to develop business excellence model in order to enhance value for all thestakeholders. This has helped in contributing to the marketplace success, maximization of business capacities. The group is adhered on delivering organizational and personal learning. TheTBEM matrix is used as an important tool for gaining organizational self-assessment, awards andfeedback. The business mode at Tata focus over improving business excellence practices, competencies and results by facilitating communication with a common language. The purpose is to gain excellence and sharing best practices amongst Tata companies (Investing in innovation,2017).The business model serves as an operational tool for indulging and managing act, for giving guidance, and for recognizing learning opportunities.TBEM’s foundation concepts are personified in the seven categories: i.e.: Leadership, Strategic planning, Customer focus, Measurement, analysis and knowledge management, Workforce focus, Operations focus and Business results(Rao,2012).
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The Tata Group 3The e-business model at Tata deals in various forms by coordinating in between the consumer and business. Tata is working internationally by forming alliance with the local organization. This is providing it with an effective business management feature. The overall purpose is to compete with the other business organizations by providing e-business solutions. TataCliq is an online shopping website by the business organization with a well-defined businessarchitect. The purpose is to diversify in the market by providing consumers with the multifacetedfunctions (Tata Review, 2014). In cost-revenue architecture, the primary feature is to channelize the profits through overcoming market changes due to disrupt value positioning, new market strategies and ineffective marketing and sales strategies (Osterwalder & Pigneur, 2010). Tata has diversified itsbusiness into various units where the primary focus is to compensate the loss occurred at one company with the other. In this way the group is able to meet up with the expectations of the stakeholders. Tata companies have a considerable business that includes Tata Steel, Tata Motors,Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications and Taj Group. By diversifying the business the organization has achieved effectiveness. The Tata group is responsible for gaining effectiveness in the business operations by recasting itself. They are planning to offer a next generation solution. They are in the forth way of diversification and redefining their position by developing model. The strategy is to grow and evolve for the new age in vertical direction by defining various categories. This is to meet the complexities taking place in the business environment (Johnson, Christensen & Kagermann, 2008). The revenue for the company is due to the non-Tata client’s account which accounts approximately: 55 percent of revenues. This is expected to go up to 70 percent in the coming
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