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STRATEGY MANAGEMENT AT TATA STEEL Free essay! Download now

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STRATEGY MANAGEMENT AT TATA STEEL

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Downloads to date: N/A | Words: 18519 | Submitted: 16-Dec-2011
Spelling accuracy: 97.8% | Number of pages: 64 | Filetype: Word .doc


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STRATEGY MANAGEMENT AT TATA STEEL

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EXECUTIVE SUMMARY

The sub-prime crisis that erupted in the US and Western Europe impacted the global financial system, resulting in a significant cut-back in investment flows and the availability of funds. The global steel industry predictably also faced pressure on their margins arising from cost increases in iron ore and coking coal, but for the most part these increases were absorbed by the market through steel price increases. The full impact of these cost increases on steel producers and the consequential higher steel prices to user industries will, however, only be felt in the current year, at which time one might expect some slow-down in economic activity and consumer demand.

It appears clear that in the immediate future, steel prices will be dictated by the level of iron ore and coking coal prices, which have been rising at mind-boggling rates, and continue to rise unabatedly. Tata Steel, thankfully, is self-sufficient in its current requirement of iron ore for its Jamshedpur operations. The Company has however sought mining leases to support its Greenfield projects in Orissa, Chhattisgarh and Jharkhand, and will need to invest in, or enter into contracts with mining companies to secure the availability of iron ore and coking coal for the Corus operations in the UK and the Netherlands.

The Tata Steel and Corus operations are being run as one virtual company with performance improvement tasks being undertaken in each location. These initiatives are expected to result in substantial improvements in operating efficiencies and reduction in cost. The Company’s capacity now stands at 28.1 million tonnes, positioning it as the 5th largest steel company in the world.
India is uniquely positioned to become a major self-sufficient, low-cost steel manufacturing nation. The demand for steel in the developing world will continue to be an important engine of growth. It will be the anchor material for construction, infrastructure, automobiles and consumer durables. China, India and Brazil, will be countries where internal demand to meet infrastructure and construction needs will continue to grow substantially in the years ahead.

Tata Steel recognizes that it no longer is a steel company located and operating in India alone, and that it has to sustain itself in the global arena. Its long-term goals would be to continue to play a meaningful role in the economic development in India and in the overseas markets it serves. Its future growth in India and overseas will be both in steel-producing facilities as also in natural resource assets. While the Company may grow and spread its geographical footprint, embracing different cultures, it will not lose sight of its great heritage of social and community responsibility






STRATEGY MANAGEMENT AT TATA STEEL

“Tata Steel moves into its next target to become the world's ...

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