ITMG306 | Management | The Secondary Challenge And The Strategies
Answer:
Source problem
In the world’s current economy there is stiff competition in the business field. Among the things that make a company competitive include innovations. The innovations are aimed at developing solutions to the problems facing the company. Normally the problems do develop from one major undoing in the business field. In the case of Tata Company, there was a challenge of management where the business lacked a central control point of leadership (Goldstein, 2008). The challenge gave rise to other secondary cases that had a major impact on the company. The paper discusses the secondary challenge and the strategies set to overcome the challenge. It also gives an insight into the implementation of the strategies.
Secondary problems
Secondary problems refer to the problems that arise from a major problem in an organization. As a result of staggered management, the company developed other major problems. The problems include low-quality prod
uction and poor strategy development. These challenges led to poor performance in the business which led to losses in the company (Naronha, 2014). Poor performance led to poor customer relationship following poor service delivery. This resulted to a decline in the demand of the company goods leading to an economic downturn (Tata consultancy services limited (TSC), 2011).
Problem analysis
Application of conceptual frame
Following the expansion of the company into an international business the company opened various branches in different continents. As a result of the geographical diversity, the company lacked a central leadership position from which all the company’s businesses would be controlled. This resulted in a management crisis that negatively affected the business. The company developed several business management schemes from which the various branches were to be controlled. This led to the development of different strategies in the different management sectors.
Data analysis
The staggered management led to poor strategy development. Due to the challenges the company made severe losses in 2000 i.e. the company lost $110 million. The loss was caused by the overspending on employees, overproduction and unplanned export programs (Goldstein, 2008). Also, the company suffered an economic decline in the year 2008. The decline was as a result of poor customer relation, especially in Tata consultancy industry. The effect on the company’s market was severe to cause a recession in the U.S and an economic decline to the business (TSC, 2011).
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70 60 50 40 30 20 2004-052005-062006-072007-08 |
North America Europe
Iberoamerica
Others |
GRAPH 22: DIRECTION OF EXPORTS FROM FY 2004-05 TO FY 2007-08
Use of critical reasoning skills
As a result of the effects brought about by the problems, the company had to develop reasoning skills that would help find solutions to the challenges. The company had to conduct research on the possible environmental factors that would help promote their services. In return, the company drafted strategies that would help solve the challenges and that would enhance the business growth.
Alternative strategies
Alternatives explored and their relevancies to the company challenges
Following the losses incurred the company was forced to draft strategies that would enhance the recovery and growth of the company. The company considered revising its leadership so as to have a central leadership through which all the company’s activities would be discussed. The developed management include a chief executive officer, board of directors and shareholder. The company also has a branch responsible for the company’s major investments known as Tata sons (Singh & Manavalan, 2012). This development was aimed at solving the existing management problem in the company.
The company also developed the Tata Business Excellence Model. The model was to enhance development in the leadership and the strategic planning of the company. The model would also help improve employee performance through the assessment of their performance. It would also give an insight into the workforce and recommend for the necessary changes in the field. In line with the Tata sons sector, the model would enhance innovation in the company. The model also helped in developing the Cooperate Social Responsibility sector in the business by giving an insight on the company’s workforce and performing of assessment to analyze their contribution (Jayaraman, 2016). As a result, the TBEM model defined the responsibilities that each stakeholder was to play in the business recovery and growth process. The various strategies helped develop innovation in the business and enhance individual responsibility in the organization.
Justification of recommendations
Leadership is a key factor in the development of a business. Leadership develops motivation among the company stakeholders to work hard towards achieving the goals of a business. It also helps in the development of strategies that enhance business growth (Hao & Yazdanifard, 2015). The decision by the Tata Company to review the leadership sector has played a great role in the achievement of the business goals and growth. The new management developed new strategies to enhance business growth. The strategies include; one, the development of a body responsible for the company investment and development i.e. TATA Sons. The branch has ensured the development of production technology that has improved the quality of the company’s products. The new management has also developed the Tata Business Excellence Model (TBEM) process in the organization (Noronha, 2014). The process is responsible for the leadership, strategic planning and customer focus. It is also responsible for creating opportunities for the business to develop and enhance its competitiveness. The improvement can be realized following continued business profits since the restructuring process to date. The company has also improved its relationship with its customers through the CSR strategy. The strategy has created a good business environment that is vital for the development of a business company (Oginni & Adesanya, 2013).
Implementation, control and follow-up
The leadership structure is organized to enhance growth and enhance the competitiveness of the Tata company in the market field. Through the Tata Sons section of the company leadership, the company is able to conduct research and develop strategies to enhance the company competitiveness. This has ensured the continued growth of the business through securing of large market shares. Among the key strategies aimed at development include; cost efficiency and product quality that results in high demand for the company products. Also, the business has embraced technology innovations to increase the quality of their business (Crawford, 2016). Through the TBEM the company has developed the use of CSR, where the company has developed a plan that illustrates the roles of the employees in the business. This has helped improve the quality of services to the customers and to earn their loyalty. The company has also created TATA business group that is responsible for enforcing its strategies helping realize their effect on the business (TATA business excellence group, 2018). As a result, there is an improvement in business competitiveness, financial result and social interaction (Doda, 2015).
Conclusion
Tata Company has been developing in recent years following its business development strategies. Good leadership has also played a great role in the development and growth of the company. It has enforced helped develop the business strategies and enforced for their implementation. The company serves as an example to other upcoming and developing businesses.
References
Crawford, J. (2016). An analysis of the operating environment & strategy: A case of Tata Motor. Honors Thesis. 88. Retrieved October 07, 2018 from https://digitalcommons.salesmstate.edu/honors-thesis
Doda, S. (2015). The importance of Corporate social responsibility. Journal of sociology research, Vol. 6 Issue 1. Pp. 86-91. Retrieved October 07, 2018 from www.macrothink.org/jsr
Goldstein, A. (2008). The internationalization of Indian companies: The case of Tata. Center for advanced study of India. Pp. 1-47. Retrieved October 07, 2018 from https://www.oecd.org/document/35/0.3343.en 2649 34893 2738979 1 1 1 1.00.html
Hao, J. & Yazdanifard, R. (2015). How effective leadership can facilitate change in organizations through improvement and innovation. Global Journal of management and business research: Administration and management, Vol. 15 Issue 9. Pp. 1-4
Jayaraman, R. (2016). Why should the corporate sector embrace CSR? International journal of business and management, Vol.4 Issue 2. Pp. 361-371
Noronha, C. (2014). Business excellence 20 years and counting: The business excellence Journey. Tata review, Vol. 52. Issue 2. Pp. 1-52
Oginni, O. & Adesanya, S. (2013). Business environment factors: implementations on the survival and growth of business organizations in the manufacturing sector of Lagos Metropolis. Business and management research, Vol. 2 Issue 3. Pp. 146-155. Retrieved October 07, 2018 from www.sciedu.ca/bmr
Singh, A. & Manavalan, A. (2017). CSR as an inclusive tool of public relations- A case study of Tata. International journal of humanities and social sciences invention, Vol. 6. Issue 3. Pp. 73-89. Retrieved October 07, 2018 from www.ijhssi.org
TATA Business Excellence Group. (2018). Nurturing and synergizing. Retrieved October 07, 2018 from https://www.tatabex.com
TATA consultancy services (TCS) limited, (2011). Case study. Retrieved October 07, 2018 from shodhganga.inflidnet.ac.in
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