Business Strategy at Tata Steel UK: Growth & Sustainability Case Study

Introduction: Strategic Planning Tools Shaping Tata Steel UK's Market Success

Strategies planning refer to the process of analysis the business environment and form policies that help in achieving the vision & objectives of the organisation. This process involves determining hierarchal process that need to follow effectively for achieving objective of organisation. TATA steel is the India based multinational company that was established on 2nd April 2007 in UK. It was the merger between the London based Corus steel group and Tata India for acquiring larger market share. This report is based on the strategies management plan for TATA steel UK that helps them in achieving their objective of operating sustainably. This merger leads to become the company largest steel producer in the world.

The company has experience high growth in their revenue in 2020 which amounted to 2.41 billion pound and has a market share of 70% all over world (Annual revenue of Tata steel UK, 2023). This report will include the strategies management plan that company needs to follow for effectively achieving its goals. It will also discuss macro and micro level environment analysis that helps in better understanding the factors which impact organizational growth. Information regarding the strategies management tool will be included which helps in creating competitive edge within the industry. This report will also discuss various concepts and models of strategic management that helps in enhancing the market position of the firm.

P1. External Environment Analysis

PESTLE analysis

It is the method through which macro environment of the company is being analysis. This helps in determining the external environment that is impacting working of the organization. These external environments are not in control of the organisation but by this analysis firm can take necessary action that helps in reducing the risk associated with such factors. Pestle analysis of the Tata steel in UK is as follows:

• Political factors: This includes information regarding the political stability and the policies of government for the development of the country (Pestle analysis of Tata steel in UK, 2018). There is political instability in UK which results in making it difficult for Tata steel to effectively operate in country. Introduction of brexit result in creating trade barrier and obstacle which further leads difficulty in effective trading. The relationships of UK with other countries in world are effective which facilitates better global reach of the company. Brexit has created positive impact as the countries that were restricted by UN committees can be reached out easily. Moreover, TATA UK does not need to follow any of such regulations.
• Economic Factors: US subprime crisis has huge impact on UK economy, Germany and the motherland. This results into increasing liquidity risk within the market which further decreases the demand of Steel. Value of pounds has been devaluated due to the separation of UK form the EU (Arsyadi, Wulandari and Alam, 2023). It has been identified that company is facing high amount of the inflation which results into decreasing purchasing power of the consumer. There is an increase in the interest rate which results in making the loan amount expensive to the company.
• Social factors: There are changes in the preference and mindset of individual in the country that results in the negative impacting the operation of the organisation. It has been determined that company is steel industry is creating high amount of pollution in the country leading to creating environmental issues. To overcome such issue, Tata steel has focuses on creating a social culture that aims at investing towards improving the health and education facility within country results in creating high goodwill.
• Technology factors: This aspect is creating both positive and negative impact on the working of the organisation. Technology advancement results into producing and manufacturing of steel product with less wastage and helps in improving the overall costing of organisation (Ashok and Dhingra, 2023). This results into decline in the operational cost and meanwhile increasing overall profitability of the company. On the other hand, firm needs to invest high amount towards acquiring such technology that result into increasing the cost. Technology keeps on changing which requires company to do additional investment on regular basis which impact overall budgeting.
• Legal factors: There are various rules and regulation in the country that impact the operation of steel industry. It has been determined that company needs to follow health and safety rules, licensing requirement, environmental regulation which creates obligation for the company. There are various laws that need to be followed within UK manufacturing industry that includes Employment Act 1996, Equality Act 2010, Minimum wage (Employment act in UK, 2024). Incompliance's with any of the law may negatively impact the operations of company.
• Environmental factors: The production of steel results in emission of large amount of carbon and relative footprints in the surrounding. This hampers the quality of natural resources of the country and creates negative impact on overall working of TATA steel. To overcome the issue, firm should focus on determining new measures a method through which environmental impact can be reduced.

P2. Internal Environment Analysis

SWOT analysis

SWOT analysis will be conducted to determine the capabilities and weakness of TATA steel which will help in making appropriate decision. This matrix helps in getting better knowledge regarding company's ability leading to increases efficiency in strategic planning. SWOT analysis of TATA steel UK is as follows:

Strengths:

• Integrated operations: The Company is carrying out all the process of the steel manufacture from extractions of core to finished steel (Ashrit et al, 2020). This helps in reducing the cost of operation leading to improving overall profitability.
• Effective market share: TATA steel is the most popular manufactures of steel in the world. It has an effective and high market share indicates its dominance in the industry. This helps in creating competitive edge and attracts large number of the customers.

Weaknesses:

• Dependence on Europe market: Tata revenue and operations are highly depended on the European market leading high risk (SWOT analysis of Tata steel in UK, 2024). Economic slowdown in UK market also results into decline in revenue of the company which also impacts overall operations' of the firm.
• Functional issues and misty's Fascia: The image and goodwill of Tata group impacted due to crisis between the management. Organisation is not able to adapt strategies that assist in improving operational efficiency leading to increasing waste and cost.

Opportunities:

• Modify technology: It has been identified that company lag behind from its competitor in comparison of the latest technology. Focus should be paid towards adapting the integrated and new technology such as Hismelt process, cortex process and ore smelting that helps in improving operational efficiency.
• Global growth: TATA steel has opportunity to grow because of expansion in automobile, manufacturing and construction industry. Company should focus on expanding its operation in Africa, Asia for better growth.

Threats:

• High competition: It has been determining that there is increasing in the number of competitors in the industry leading to reducing market dominances (Bali, Panta and Antelo, 2019). Essar, Arcelor, JSW steel are the various competitors which impact the overall working of the organisation.
• Reducing steel prices: China has started its production of steel at fewer prices which made it necessary for organization to reduce its costs. This leads investment towards acquiring such technology that can help in reducing the cost. Profitability of the business entity has been impacted as it difficult to cut cost as the time of continuous increasing the coal prices.

VRIO analysis:

It is the tool that is used to determine the capability and the resources of the organisation. This analyse helps in identified that competitiveness of the organization of origination in the industry by evaluating various resources of the company. This analysis helps in determining company's ability which assists in taking appropriate decision. VRIO is the acronym used for the valuable, rare, inimitable and organization. By understanding this analysis, Tata steel will able to evaluate the opportunities that are best suitable for the company and helps in determining most effective objective. VRIO analysis of Tata steel UK is as follows:

• Valuable: This is the crucial aspect that covers all the strength and valuable resources of the company which helps in creating competitive edge in the market (Chen et al, 2021). Tata steel is having strong global presence that help in attracting large number of customers. The company is planning to expand its operations in Africa and Asia which will help in making optimum utilization of resources. Supply chain management of Tata steel is effective as its having an adequate internal supply chain network. This helps in managing the quality and timely manufacturing product within the organisation. As company is expanding its operation, origination is able to adapt the latest as well as integrated technology within the operation of firm that helps in reducing cost and improving efficiency.
• Rare: This criterion includes the specialization of technology and operations that has been acquired by the company to build and sustain competitive edge within the industry. The manufacturing & distribution process that has been carried out by Tata steel through proper licensing (Fisher and Barron, 2021). The investment of company towards the research & development helps in gaining the raw material at an efficient cost and assist in creating high quality goods. Company is having partnership with regional governmental and the best technology company which helps in providing technology that cannot be accessed by many of its competitors.
• Inimitable: Under this framework, all the resources and technique of the company that cannot be easily copied by the competitors are discussed. This provides information regarding the product being able to substitute or not. The organisational culture of Tata steel is concentrating on improving the condition of employees by providing them a friendly working environment that cannot be easily imitable. Compensation framework and HR polices of the organisation are effectively formulated that focus on improving employees satisfaction and motivation level. The company is concentrating on using the measure that helps in benefits of society and environment which assist in creating positive image in the industry. Branding activities, infrastructure, organizational leadership are various activities that cannot be easily copied by any of the competitors leading to making the operations inimitable.
• Organization: Under this session, information is provided regarding the capability and efficiency of firm in making optimum utilization of all the resources available to them. This will help in determining the efficiency and effectiveness of business entity in carrying out its operations. As the company is operating on a global level, it has been able to attract large number of customer results in attain economies of scale in its operations (Irfan et al, 2020). Use of AI and automation in the working of organisation helps in reducing the waste leading to better utilization of company's resources. Training and development session has been provided by company which will help in improving the skill of employees which assists in optimum utilization of the human resources of the organisation.

P3. Management Tool To Analyses Market Sectors

Ansoff matrix:

This is matrix which included evaluating and suggesting the best decision in the organisation which will help in growth of the company. This matrix includes four strategies that are market penetration, market development, product development and diversification. Market penetration involves decisions that focus on increasing the production capacity of the origination by including various new and integrated process. This will help in increasing the efficiency of organisation in operation and assist in decreasing cost level. This also includes high investment towards the marketing strategies of the company and creating a competitive edge in the market.

Market development is the growth strategies that include entering into new market with the existing product. This strategy helps in gaining new customer which leads improvement profitability position of organisation (Irwanto, Rizky and Irdiana, 2024). This also aims at research & development to determine the regional and international expansion of the business entity. Product development involves growth opportunity for the organization by introducing new product in the exiting market. This involves investment towards research & development to determine needs in the market and develop products accordingly. Diversification is the last growth strategies that include entering into new market with new product which assist in attracting large number of customer and expanding the business reach.

According to current situation, Tata steel should focuses on commencing market penetration strategies in their operations. Tata steel is focusing on implementing sustainability in their operation which can be effectively carried out by changing its operation. The company do not want to grow by creating negative impact on the working and well-being of employees. If the company chooses any of the other strategies that will result into losing of many of the current employees leading to creating unemployment. Market penetration strategies will help in reducing the operational cost of the organisation and helps in achieving objectives of sustainability.

P4. Organization's Strategic Objective

After evaluating all the operations of the organisation on various model and tools, it has been determined that following should be the strategic objective:

• To increases the sale of organisation by 5% at the end of the current financial year.
• To reduce the CO2 emission by 25% at the need of 2026
• To reduce the employees turnover rate by 3% at the end of 2025.

As the company has focused towards implementing sustainable measures in their operations, which will help in attracting large number of consumer. The operational cost of the business entity will be increased by adopting such measures so as to overcome all the cost focus has been paid towards increasing sales results in enhancing profitability (Jyothi and Godase, 2022). It has been determined that consumer preference has been positively changed for adopting sustainability that will help in achieving set goals. Firm has focused on reducing its cost for which it has been paid emphasis on reducing overall employee's turnover.

Low retention rate leads to increase in expense for training & developmental and also creates negative image within the industry. Tata steel has set the goals of reduction in carbon emission as to develop reputation and goodwill in the market. It has been determined that increasing pollution and inattentiveness of organisation towards mitigating such risk hampers the working of business entity. These objectives will help in fulfilling profit maximization objective with compiling to environment and society well being.

P5. Models and Concept for Strategic Planning

Strategic planning helps in creating a road map for organization that will help in effectively achieving the objective of firm. Bowman strategic cycle and porter's generic is two models that used to create competitive edge in the steel industry.

Bowman's strategic cycle

This is the strategic model that is used to analysis the company's position in the comparison to its competitors and helps in choosing the most effective strategies among all. This helps in taking decision regarding the positioning of company's goods and service which will help in creating the competitive edge. There are eight variables among which company chooses the most effective variable about the differentiation, pricing and the market positioning. The eighth variable of the bowman strategic cycle are as follows:

• Low price/low value: This is the stage in which the price and value of the good are very low. This is generally used when company want to maintain stability in the market and attract new customer (Kolay, 2020). The quality of goods in this stage is inferior but the price at which it is available attracts large number of customer's.
• Low price: Under this variable, the cost of product is minimum that includes the very less amount of profit margin. The company is targeting to enter in this section when it focuses on maximizing sales of the company. This aims at attracting the large number of customer by providing goods at lower prices result in attain economies of scale.
• Hybrid: This is the stage in which company targets to provide adequate quality goods and services at reasonable prices. This involves moderate prices with adequate differentiation in the product which has been providing with the aim of creating customer loyalty.
• Differentiation: This position focuses on keeping the prices of good high with premium quality of the product. Differentiation is generally created in the product by effective branding that helps in gaining competitive advancement.
• Focus differentiation: designer and customized product come under this position. Prices of goods are generally very high which cannot be afforded by various people.
• Increases price/standard product: It is the high risk strategies which aim at increases the prices of the good with no improvement in the value of product (Krisbiantoro, Sarmini and Rahmah, 2023). This strategy is generally used by big comapnuy which can produce goods at higher prices due it is brand . In short time duration it helps in increasing profitability of the company but it involve high amount of risk.
• High price/low value: This type of strategies is mainly used in the monopoly market where the values of good are not high but due to lack of competitors company could charge high prices.
• Low value/ Standard price: This is the session that includes offering goods and services at lower prices. It has been determined that company cannot competitive in this session as customer does not prefer to buy low quality products.

Tata steel in UK is targeting towards using hybrid position in market to crates competitive edge. This is related to attracting large number of customer by providing high quality goods at reasonable prices (Deng, Xu and Zhao, 2019). This strategy helps in building customer loyalty and assists in maintaining stability within the industry. Hybrid position is the most effective position among all as it helps in achieving overall organizational objective. All the other strategy does not provide flexibility in the decision making process as of hybrid strategies. This policies aim at continuous changing and forming strategies that assist in mainating stability in the market.

It has been determined that as company is focusing on increasing the Sales, hybrid strategy will help in attracting large number of customer due to its low prices. This will help Tata steel in attain the economies of scale leading to reducing overall cost of operations. Tata steel is operating in an highly competitive market, it is very crucial for company to creates differentiation in their product. Implementing this strategy helps in determine measure to maintain differentiation which results in improving overall reputation of the organization. This method is most suitable as aim at promoting sustainable measures in the operation which assist in reducing overall cost and enhancing financial position of the company. It is most feasible method as it does not involves high investment and it can be easily implemented by the Tata steel.

Porter's Generic Competitive strategy:

This is the strategic tool which used to describe various strategies that can be used to attract large number of customer according to the target market. This provides high level of assistance in creating the competitive edge in the market by adopting suitable strategies. The three broad strategies gaining competitive advancement are differentiation, cost leadership and the focus which are discussed below:

• Differentiation: This strategy focuses towards differentiating the company's product from its competitors by introducing some distinct features. This has been generally introduced after conducting market research that assists in determining needs of market and introducing product that can fulfil such needs.
• Cost leadership: This includes creating competitive edge by providing same quality good at the cost lower than the other organization (Kundu et al, 2021). This will help in attracting large number of customer leading to increasing overall profitability of business entity. This can be achieved through economic of scale or sourcing raw material and other resources at cheaper rate.
• Focus: This is the strategies that concentrated on forming strategies for the selected group. In this company focus has been provide towards niche market and strategies are formed that will help in attracting customer form that sections.

Tata steel should use cost leaderships strategies that helps in reducing overall operational cost of the organisation. This can be achieved as company is operating at global level which will help in sourcing production recourses from country that provide them at cheaper rate. Tata is aiming at improving its profitability position that can be archived through these strategies as the gross profit margin for the business entity increased due to decreases in the operational cost.

P6. Strategic Management Plan

SOSTAC model

Strategic management plan refers to systematic planning of the entire step that helps in achieving the objective of organization (Nayak and Shinde, 2022). To implement the goals and objective of the Tata steel SOSTAC model will be used. This will help in adequately implementing all the strategies in business organisation after evaluating organisation capability and industry in which it operates (ROTHAERMEL, 2018). There are six steps in the SOSTAC planning that includes situation analysis, Objective, strategy, Tactics, actions and control.

Situational analysis:

Under this step the external environment, internal environment and competitor analysis of Tata steel has been undertake. This will help in understanding the organizational capabilities in undertaking all the strategies.

PESTLE analysis

Through pestle analysis it has been determined that company is having high political instability and trade barrier that closely influence the profitability of organisation. Introduction of brexit results into providing opportunities for the company to expand its operation to different market that helps in attracting customer (Raianu, 2020). As company is targeting towards increasing its profitability position, this expansion will help in attracting the large number of customer. This will help in increasing the sale of the business entity and assists in achieving goals and objective of organization. The economic condition of UK is not so stable leading to decreasing purchasing power of customer results in fewer sales. To overcome the issues the company is focusing on introducing products at the cheaper rate with high quality. Tata steel is concentrated on updating its technology on regular basis to create competitive edge which will help in producing goods at cheaper rate then the market rate.

SWOT

After analysis the internal environment it has been assessed that company is facing the issue of increasing the number of competitors and the cheap production in China. Tata steel is having an integrated technology and using automation in its operation. This will help in competing with other organisation and assists in reducing the cost of product. Hence, technology will help in overcoming the threats of the company and helps in effective working of the firm. It has been identified that company is facing issue due to operational issues existing in the firm and increases in dependences on European market. Tata steel has strategies intergraded operation which including carrying out all the operations by themselves leading to decreasing interdependences.

OBJECTIVE:

After evaluating the external and internal environment of the organisation it has been identified that company needs to establish competent goals for maintaining stability within the industry (Reis et al, 2023). It has been identified that company is not indulging towards environmental activities which places negative impact on the organisation. There is increasing the number of competition in the market results in reducing profitability. To get benefit from the current opportunity company has establish the following goals:

• To increase organisational sales by 10% at the end of 2025.
• To reduce the carbon footprints and emission of the company by 25%.
• To reduce the operational cost by 4% in the end of the current quarter.

Strategy:

Under this section, information will be provided regarding the strategies which company is going to implement for achieving the set objectives. As company is focusing on using market penetration strategy, Hybrid position and cost leadership Strategies. Thus, Tata Steel needs to focus on various strategies that help in decreasing cost and increasing overall profitability of the organisation. Company has decided on this strategist as firm is facing behind in introducing sustainable activities in their operation. Tata Steel is required to undertake competent measures that help in improving overall profitability. To improve the profitably concentration should be paid towards decreasing overall cost of the organisation because of which this strategy has been adopted. Following is the STP of the Tata steel based on which appropriate tactics will be formed.

• Tactics: This is section that deal with providing various measures through which this strategies could be effectively carrying out within the organisation. This tactics will include various marketing and production strategies that help in reducing cost and assists in attracting target market (Roemmich et al, 2019). Following are the strategies that organisation is paining to implementing in their operations for accurately achieving objective:
• Introducing Green hydrogen: Company is concentrated towards decreasing the cost and its impact in the overall quality of natural resources. Tata steel is planning to introduce green hygrogram in the production process of the company. This is referring to as cheap sources of energy and it helps in reducing negative impact in the surrounding. This will assists in attracting large number of automobile and other industry to purchases goods from the tat steel. This results in reducing overall cost by attaining economies of scale.
• Marketing strategy: The Company is planning to implement marketing strategies which help in attracting the large number of consumers. It has been determined that Tata Steel should employ PR strategies, digital marketing, advertising and sponsoring strategies that help in gaining large number of customer. Company is planning towards reducing the cost and creating hybrid situation. These strategies will help in reducing operational cost by prioducing in large quantity results in increasing overall profitability of organisation.
• Introducing intergraded technology: It has been determine that in 2022, Tata steel UK has incur wastage of 5000 tonnes in a year (Increase in waste By Tata steel, 2023). This increases in the amount of wastage in the environment results in increasing the operational cost leading to decreasing overall profitability. For effectively achieving the goals of market penetration, company should concentrate on introducing integrated technology in their operation which will help in reducing wastage and increasing efficiency (Saraswathy, 2021). It will also help in reducing the overall pricing of the product and helps in providing competitive prices in the market.

Actions:

• Who: This is the step which includes information regarding the team and the Management that will liable for effective implementing the strategies (Singh and Girdhar, 2022). It has been determined that marketing and production department of the company will undertake the responsibility of carrying out all the strategies adequately.
• Budget: £1000000 will be allocated to the various department of the organisation. This fund will be used for acquiring new technology and introducing new marketing strategist in the industry.

When:

• Recommendation: while implementing the strategies, manager will be focused towards evaluating the market and determining the changes that are occurring in the industry. This will help in identify the effectiveness of strategies at each point and policies will be formed to cope up with the changing environment.
• Control: This is the last stage of the SOSTAC model that including controlling and monitoring the operations of organisation (Sheth et al, 2020). Various KPIs will be used to determine the accuracy and appropriateness of polices being formed. Various KPIs used in Tata steel are as follows:
• Benchmarking technique: It is the method in which the actual performance of the organization will be compared with the standard being set. This is most effective way to determine the deviations in the expected outcome and strategies will be formed through which this deviations could be reduced.
• Financial KPI's: Under this method, the budget for each of the activities will be decided after evaluating all the crucial factors. Company's profitability, sales and the cost will be compared based in standards set. The will help in determine the financial efficiency of the organisation in carrying out its all operations.

Conclusion

On the basis of above report, it has been concluded that strategic planning helps in achieving the objective of organisation with utmost efficiency and effectiveness. It has been identified that Tata steel is facing issues in managing its cost due to increases in the inflation and interest rate within UK. There is constant improvement in the technology which creates obligation for firm to incur funds. It has been identified that company is following an integrated operations and having efficient market share in the industry. There is opportunity for firm to indulge towards expanding their operations across world leading to improving overall position.

It has been identified by VRIO analysis that company's technology and mode of operation cannot be easily followed by any other organization result in creating competitive edge in market. It has been identified that company is targeting towards adopting market penetration strategies of expansion that helps in attracting large number of customer. Tata steel has determine to reduce the environment impact and focusing on increasing profitability of the organisation. It has been identified that company is targeting towards achieving hybrid position in the market and aim at implementing cost effective leadership. SOSTAC model of planning has been used that helps in forming appropriate strategies for attaining the targeted objective.

References

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