Strategic Intent Of Tata Steel

Strategic Intent of Tata Steel The Tata Group is known for its ethos of aligning business opportunities with nation building. One of India’s most reputed companies from the Tata Group, set up in 1907, Tata Steel is Asia’s first and India’s largest private sector steel company. Tata Steel is among the lowest cost producers of steel in the world. Its strategic intent is expressed in terms of a hierarchy of vision, mission, strategic goals and strategies. VISION 2007 • To seize the opportunities of tomorrow and create a future that will make it an economic value added positive company • To continue to improve the quality of life of our employees and the communities we serve • Revitalize the core business for a sustainable future • Venture into new businesses that will own a share of our future • Uphold the spirit and values of Tata’s towards nation building. MISSION STATEMENT Consistent with the vision and values of the founder Jamshetji Tata, Tata Steel strives to strengthen India’s industrial base through the effective utilization of staff and materials. The means envisaged to achieve this are high technology and productivity, consistent with modern management practices. Tata Steel recognizes that while honesty and integrity are the essential ingredients of a strong and stable enterprise, profitability provides the main spark for economic activity. Overall, the Company seeks to scale the heights of excellence in all that it does in an atmosphere free from fear and thereby reaffirms its faith in democratic values. STRATEGIC GOALS • Move from commodities to brands • EVA positive core business • Continue to be lowest cost producer of steel • Value creating partnerships with customers and suppliers • Enthused and happy employees • Sustainable growth

STRATEGY • Manage knowledge • Outsource strategically • Encourage innovation and allow the freedom to fail • Excel at TBEM: The Tata Business Excellence Model • Unleash people’s potential and create leaders who will build the future • Invest in attractive new businesses • Ensure safety and environmental sustainability • Divest, merge and acquire

Strategic Intent Of Tata Steel

by icfai on Aug 24, 2010

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