In order to develop new strategies the current and the existing strategies should be evaluated by taking in account the effectiveness and the efficiencies. The current position and the desired position of the organisation in the global market should be evaluated. New strategy for Tata Steel UK:
Current position: Tata Steel is the Indian Multinational steel making organisation. It is Asia’s first integrated private sector steel company; it has been in the top ten global steel companies with annual crude steel capacity of over 29 million tonnes. It is operating within 26 countries and is commercially presented in 50 countries. The larger production facilities of this organisation are in India, UK, Thailand, Singapore, China Australia, and Netherlands. In Europe it has crude production capacity of 18mtpa. They have plants in UK, Netherlands, Germany, Frances, and in Belgium.
Goals: Tata steel has been determined to become the global benchmark through value creation and build corporate citizenship in the industry of steel. In UK they are aiming to develop long term partnership in the chosen by through unlocking the potential steels. The current goals are to produce innovation products which would be helpful in overcoming the challenges.
Objectives: the mission and vision statement of Tata Steel should in corporate within the practices. Responsible way should be approached for maintaining the ethical approaches in the market. The actions should be developed on following the policies and the safety measures should be included within the practices.
Strategy: before developing the strategy the former strategies should be evaluated. The strategy should be based on customer orientation. As the organisation is operating in the demanding market the sales and marketing strategies should be focused on the demands in markets. The product mix should be improved along with service offerings. Tata steel should integrate innovation within the Business Strategy
With the maximisation of the proportion of differentiated products the customer attractions can be retained. With the new evolution of the technologies the manufacturing can be done and distribution facilities can be enhanced. BCG matrix as well as Stakeholder Mapping techniques should be used to have proper knowledge over the market share and growth and the involvement of the stakeholders in the strategies.
Risk: the risks can be analysed by the SWOT and PESTLE analysis. With the SWOT analysis the internal risks and PESTLE analysis the external risks should be identified before the development of strategies.
Time scale: within a fixed time scale the strategy should be executed. Units of time measurement should be implemented on each objectives and units of actions.