Discussing (Tata Steel) and its current approach to managing Essay

Discussing (Tata brand name) and its current approach to managing environmental drivers in their market. You should identify and an - Essay ExampleIn this context, the reciprocation of this report critically examines the major influencing factors along with the responses made by TATA Steel while performing its poise manufacturing processes in the global countries. Additionally, the talk overion would also incorporate the major drivers within the present brand name do industry, their potential impact on TATA Steel and provide relevant theoretical implications in order to efficaciously address the key driving factors in the several(prenominal) business industry. Table of Contents Executive outline 2 1. creation 4 2. Brief Description of the Company and its Exposure to Global ancestry 4 3. Introduction of the Chosen Framework and Evaluation of TATAs Response 5 4. Analysing Major Influencing Drivers in the Steel Making Industry and TATAs Response 6 4.1 Regulatory Process 6 4.2 Cost decrement Strategy 8 4.3 Buyers Power 9 4.4 Suppliers Power 9 4.5 Competitive Rivalry 10 6. last and Recommendations 12 References 13 1. Appendix 18 1.1 PEST Analysis 18 1.1.1 Political Factor 18 3.1.2 Economic Factor 18 3.1.3 Social Factor 19 3.1.4 Technological Factor 19 1. Introduction The present business environment of global organisations is often identified to be influenced by various factors. In this regard, the influence of external environment is one of the major determinants for the modern business organisations, assisting them to successfully accomplish their desire business goals (Teodorescu & Costachie, 2011). Organisations are often recognised to highly comply with the influence of primal external environmental factors in performing various operational and corporate functions. In this regard, the political, economic, social along with environmental and heavy aspects can be duly considered as the primary external influencing factors for any organisation, aidi ng it to build long-run sustainability in the competitive business market (Oxford University Press, n.d.). Keeping with the major influence of the external environmental factors in business, the primary objective of this report is to analyse the business operations of TATA Steel in the fiercely growing steel manufacturing and marketing business industry. In this regard, the report will identify the chief drivers of the steel industry and discuss how these drivers affect Tata Steel. Moreover, the report will also lay utmost focus upon evaluating Tatas responses to the identified drivers along with providing appropriate actions to ensure sustainable success of the company. 2. Brief Description of the Company and its Exposure to Global Business Established during the mid of the year 1907, TATA Steel (TATA) is regarded as one of the leading steel manufacturing companies in the Indian and global business industry. It is one of the major subsidiaries of the TATA Group with a large number of market shares in producing and marketing of steel across overseas locations (Mahajan & Ives, 2003). The company attained greater success in the respective business industry due to its adoption along with execution of continuous diversification strategy in its various business fields. Currently, the organisation is involved in performing diverse operational functions that include force back vehicle manufacturing, steel production, chemical, financial service along with healthcare division and telecommunication