...na nce enduring sustainability The journey towards es Go r ve fo rm an gi INTEGRATED REPORTING Communicating Value Transparently At the very core of the concept of Integrated Reporting (IR), is the growing recognition that a number of factors determine the value of an organisation – some of these are financial or tangible in nature and are easy to account for in financial statements. However others, like people, natural resources, intellectual capital, markets, competition, etc., are harder to measure. This is where the concept of Integrated Reporting comes in. IR enables an organisation to communicate in a clear manner on how it is utilising its resources and relationships to create, preserve and grow value in the short, medium and long-term. And thus helping investors to manage risks and allocate resources most efficiently. The IR reporting framework covers six parameters: v Organisational Overview of the Business Model O k loo ut The Busine ss M el od Risks a nd v Operating Context, Risks and Opportunities v Strategic Objectives and Strategies v Governance r Pe Op po r tunities Value Transparently Communicating ategic Obje Str c es a tiv nd Strate ce v Outlook na nce This Annual Report is Tata Steel’s maiden attempt to report in accordance with the above parameters. It is in keeping with Tata Steel’s own belief in transparency, accountability and ethics. A belief that Tata Steel has held strong for...
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...companies can choose to either venture their business towards the Global or Regional strategy. The Global Integration strategy looks at production and distribution of products and services of a homogenous type and quality on a worldwide basis. National Responsiveness strategy requires understanding of individual consumer tastes imposed by autonomous governments and agencies. To further understand the Global and National strategies, we look into the two-dimension matrix below. (textbook, pg277) Global Strategy International Strategy Transnational Strategy Multi-domestic Strategy Global Integration High Low National Responsiveness High Low Quadrant 1 – Global Strategy, High requirement for integration and low awareness of differentiation. Based on price competition, entry strategy used it often mergers and acquisition. Quadrant 2 – International Strategy. Low requirement for centralised quality check and strategic decision making eliminating the need to adapt to individual countries. Mixed strategy combining low demand for integration and responsiveness. Quadrant 3 – Transnational Strategy. High requirement for integration and differentiation. Emphasizing both global integration and local responsiveness. Quadrant 4 – Multi-domestic Strategy. High requirement for differentiation but low concern for integration. Emphasize on local adaption. 2.1 ANALYSIS Adaption from the Case Studies and Research Cases Tata Group uses two different strategies locally...
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...Winter Internship Report on the basic study of Corporate Governance and Comparative Analysis Of The Annual Reports of Vizag Steel and TATA Steel At Vizag Steel Submitted in partial fulfillment of the requirements by NALSAR University Submitted By Sushma Yanamadala ( Centre for Management Studies National Academy of Legal Studies and Research Shameerpet, Secunderabad. Certificate from Company Declaration I hereby declare that the project entitled “Corporate Governance and Comparative Analysis of the Annual Reports of Vizag Steel and TATA Steel” submitted to the NALSAR University of Law, Centre for Management Studies, Secunderabad has been prepared by Sushma Yanamadala in Corporate Governance Department at Vizag Steel, Vishakapatnam. This embodies the data collected and analyzed under Mr.S.SakthiMani, Company Secretary, at Vizag Steel and hereby approved. The data collected for the analysis and report was provided by Vizag Steel, and was asked to use this information only, which include the company profile, annual reports and articles that have been used for reference. Place: Vishakapatnam Date: Signature of the candidate --------------------------------- ACKNOWLEDGEMENT ...
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...BUSINESS ETHICS Student’s Name: Ce Wang Student’s ID: 1226656 Instructor’s Name: Peter Goalby Course Name: New Advances In Business University Of Bedfordshire Date Assignment is due: 20/03/2015 Abstract Business ethics looks at whether the company is heading in the right course by adhering to the various factors such as integrity, fairness and reliability. The ethics set up by the organization plays a vital role in the hiring process and the business management practices. Running an ethical organization is vital in financial matters and in creating the morale and loyalty of the personnel. Ethics are also relevant to the business as it ensures that there is ethical behavior among the workers in the organization. Ethics are also relevant to the business as it aids in creation of an ethical organizational culture. Most of the organizations when posed this question believe that it is the employees who are chiefly responsible for ensuring that their work meet the ethical considerations. However, the employees are not the only ones responsible for business ethics, the employees need support from the management or from the employer. This paper has a look at the ethical issues surrounding the steel manufacturing industry and the Healthcare industry. It also looks at the relevance that ethics have on business, sustainability and corporate responsibility. The paper also looks critically at the connection of business ethics to the organizational culture. Lastly, it...
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...Introduction to the industry Metals have accompanied mankind since ancient ages, and steel, if we begin to follow it from the moment of its historically famed damascene form - for some millennia. From the era of craftsman-like small-scale production to today's form of industrial mass production, steel has covered an intricate path lined with significant innovations in production processes, development of range and quality of products, and perpetually growing productivity of labour, improving economies and ecological load. In addition, a radical change in relationship to the customers is occuring at the end of this century, namely by a pronounced shift of readiness towards the needs and requirements of these customers. Steel's indisputable significance is confirmed by the fact that it has become the second most mass-produced commodity after cement production, attaining the world-wide production volume of approx. 750 mil tons yearly. The art of iron production from ore arose in connection with the practices of copper and lead technologies in Anatolya, in northern Syria and possibly also in part of Iran. Iron ores were added as fluxes for treatment of sulphide copper ores. Iron drops, which the local manufacturers identified already 3000 years BC, comparing these with meteoritic iron, already hinted at the existence of the possibility of producing iron, but this only occurred practically 15 centuries later. Since that time, it is necessary to reckon that only small amounts of this...
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...Crafting a Compelling Employee Value Preposition for Tata Motors This case has been prepared by Tata Motors Corporate HR for TML Case study competition- ‘Mind Rover’. This case study is recommended for being used for the ‘Mind Rover’ case study competition only and does not illustrate either correct or incorrect handling of an administrative situation. No part of this case can be used, reproduced or distributed in any manner without the approval of Tata Motors. Crafting a Compelling Employee Value Preposition for Tata Motors 2 As a part of his induction Prabir had visited Tata Motors’ manufacturing & assembly plants in Jamshedpur, Pantnagar, Lucknow, Sanand, Dharwad and Pune. He met employees at not just these manufacturing units but also the sales and marketing offices across the country and the R&D centres. “I think we are doing just the right things that any company should. However, I find one best practice in one location is very different from how it is practiced in another location. As someone who is still new to the culture, I am still to discover ‘One Tata Motors’ way of doing things when it comes to employee initiatives”. He had commented. Having said that, the average attrition rate of 9%, was way below the industry average of 13.3%. There were employees who had been in the system for 24 to even 35 years and they carried a lot of tacit knowledge. This needed to be transferred and documented for the next gen. What bothered Prabir was there were still some quarters...
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...2.1 REVIEW OF LITERATURE & ANALYSIS OF PREVIOUS RESEARCH The concept of social responsibility is not new. Although the idea was considered in the early part of the twentieth century, the modern discussion of social responsibility got a major impetus with the book "Social Responsibilities of the Businessman" by Howard R. Bowen. Bowen suggested that business should consider the social implications of their decisions. Fortune magazine annually assess America's most Admired Corporations and does so by evaluating over 300 organisations against 8 criteria, one of the eight used is "Community and Environmental Responsibility". Firms such as Merck, Rubber maid, Procter and Gamble, Wal-mart, Pepsico, Coca-cola and 3 M have received consistently high overall ratings. The presence of strong social values such as social responsibility has a powerful impact on organisations and their actions. It leads them to use a socio-economic model of decision making in which both social costs and benefits are considered along with the traditional economic and technical values. “Corporate social responsibility in the form of corporate philanthropy, or donating to charities, has been practiced since early 1800 at least in the US (Sethi, 1977). It was legitimate in so far that it directly benefited the shareholders, and corporate donations were mostly on the agenda of those companies that could afford it. Today’s concept of corporate social responsibility was developed primarily during...
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...………………………………........................ 3 2.2 Commonwealth Bank of Australia.……………………………………………. 7 2.3 Tesco ………………………………………………………………………….......9 2.4 Tata Motors …………………………………………………………………......11 2.5 Fast Retailing ………..……………………………………………………….....13 3. Conclusion……………………………………………………………………………....17 Appendix .…………………………………………………………………………………. 18 Bibliography ……………………………………………………………………………… 23 Executive Summary The need for solid and sound corporate governance practice has become increasingly important in recent years, as the recent high profile corporate collapses (Enron, OneTel) are related to poor governance structure. The Corporate Governance Assessment Model attached in the appendix outlined five significant factors that can assist in determining the level of corporate governance of the selected firms. These include: * Appropriate Board Structure And Composition * Management Compensations * Integrity in Financial Reporting * Effective Risk management * Corporate Social Responsibility Selected companies are likely to have a well-established corporate governance system if the selected companies achieve high ratings in these corporate governance factors. This report will apply these five factors to each corporation including Commonwealth Bank of Australia, Fast Retailing Co. ltd, Facebook, Tesco Plc. and Tata Motors Ltd. Based on our evaluation, selected companies have failed to meet certain criteria in our measures of the Assessment model. For...
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...Leading Change at TATA Motors Established in 1954, TATA Motors Limited is India's largest integrated automobile company, with consolidated revenues of 20 billion USD in 2009-10. It is the leader in commercial vehicles in each segment, and among the top three in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. The company is the world's fourth largest truck manufacturer, and the world's largest bus manufacturer. TATA Motors in 2005 was ranked among the top 10 corporations in India. In 2010, TATA surpassed Reliance to win the coveted title of 'India's most valuable brand' in an annual survey conducted by Brand Finance and The Economic Times. The company's 24,000 employees are guided by the vision to be "best in the manner in which we operate best in the products we deliver and best in our value system and ethics." Their mission is “to be committed in letter and spirit to Corporate Social Responsibility." The 5 core TATA values are Integrity, understanding, excellence, unity and responsibility. Originally founded as TELCO by the Tatas in 1945, the locomotive manufacturing unit later expanded its operations to the commercial vehicle sector after forming a joint venture with Daimler-Benz AG of Germany in 1954. TATA vehicles are sold primarily in India, and over 4 million vehicles have been produced domestically since the first TATA vehicle was assembled since the merger. The multinational corporation is headquartered in Mumbai...
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...Global perspectives on governance: lessons from east and west While the core principles of governance are the same throughout the world, the Asian model places particular emphasis on trust and relationships. This paper discusses the key differences between the western and Asian approaches to help business leaders explore the best aspects of both. Conclusions 1. The corporate governance model that’s familiar in Asia, Africa and most developing nations places strong emphasis on trust and relationships. This can be beneficial for stakeholders: the typical pattern of ownership in businesses means that there can be a longer-term view of an organisation’s success compared with that in a western company. But the system is potentially vulnerable to corruption and cronyism. It can also be difficult to implement basic control procedures. 2. The prestige of what can be broadly termed the western governance model has diminished in the aftermath of the financial crisis. This model has driven globalisation and has emphasised a combination of legislation and standards as well as transparency, with a focus on developing appropriate structures, processes and frameworks. This is widely understood and helps to create a level playing field. But major financial failures over the past two years, such as that of Lehman Brothers, have shown that there are limits to what can be done to tighten checks and balances. A new emphasis on the behavioural aspects of governance is overdue. ...
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...CONNECT FEATURES Interactive Applications Interactive Applications offer a variety of automatically graded exercises that require students to apply key concepts. Whether the assignment includes a click and drag, video case, or decision generator, these applications provide instant feedback and progress tracking for students and detailed results for the instructor. Case Exercises The Connect platform also includes author-developed case exercises for all 12 cases in this edition that require students to work through answers to assignment questions for each case. These exercises have multiple components and can include: calculating assorted financial ratios to assess a company’s financial performance and balance sheet strength, identifying a company’s strategy, doing five-forces and driving-forces analysis, doing a SWOT analysis, and recommending actions to improve company performance. The content of these case exercises is tailored to match the circumstances presented in each case, calling upon students to do whatever strategic thinking and strategic analysis is called for to arrive at a pragmatic, analysis-based action recommendation for improving company performance. eBook Connect Plus includes a media-rich eBook that allows you to share your notes with your students. Your students can insert and review their own notes, highlight the text, search for specific information, and interact with media resources. Using an eBook with Connect Plus gives your...
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...– Stakeholders in Business – Vision, | |Mission and Purpose – Business Definition – Objectives and Goals – Corporate Governance – Social Responsibility | CONCEPTUAL FRAMEWORK FOR STRATEGIC MANAGEMENT Strategic management deals with decision making and actions which determine an enterprise’s ability to excel survive or die by making the best use of a firm’s resources in a dynamic environment. The main purpose of study of strategic management is to examine why some organization succeed while others fail and yet others completely change. Consider the following examples: ➢ Bharat Heavy Electricals Ltd. (BHEL) is now planning to expand its range to 800 MW supercritical power projects. ➢ LG Electronics India Ltd. (LGEIL) signed a MOU with Maharashtra government to expand manufacturing facility at Pune for Rs.900 crores. ➢ GAIL India has received an offer from China Gas Holdings for participation in a gas based petrochemical project to be set at Humor in Mangolia. ➢ The world’s largest steel conglomerate Mittal Steel Company is to become the second largest stakeholder in a Chinese Steel firm in Hunan Province. ➢ Mittal singed three MOUs with Jharkhand Government for setting up 12 million tonne Greenfield project in two phases. ➢ Maruthi Udyog slashed the price of Maruti-800 by Rs.16000 in small car segment drastically. ➢ Lenova, the Chinese computer giant acquired IBM in China. ➢ Tata Steel entered a joint venture...
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...FUSION OF CORPORATE GOVERNANCE & CSR PRACTICES BUSINESS ETHICS AND CORPORATE GOVERNANCE Submitted to: Prof. I Sridhar Submitted by: Dhvani Shah (64689) FSB II TABLE OF CONTENTS TOPIC | Pg No. | Introduction | 3 | Concepts | 6 | Conceptual Discussion | 10 | Implementation of CG & CSR in corporate | 18 | CSR/CG framework | 21 | Bibliography | 30 | I. INTRODUCTION: CSR is concerned with the impacts that the activities of an organization have on the social, environmental and economic environment in which it operates. CG is concerned with the manner in which the senior management or Board of Directors direct, manage and control the organization and relate to shareholders. The concepts cannot be mutually exclusive but merge together, each offering a different yet complementary perspective on the activities of an organization, to form a robust strategic business management tool. The aim of the CSR and CG management system is to define, understand and improve the balance between entrepreneurship and ethical practice. Organizations must demonstrate this core organizational...
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...SHARMA-10BSPHH010936 * SUNIL Kr. YADAV-10BSPHH011074 * SAURABH TRIVEDI-10BSPHH011076 * NILABH-10BSPHH011081 * SHAUNAK GOSWAMI-10BSPHH010718 INDIAN AUTOMOBILE INDUSTRY (A MACRO AND MICRO ANALYSIS) With a Focus on TATA Motors | FINAL REPORT (Business Strategy) | IBS-2011 BS-SEC I (Group-3) SHINY ACHARYA-10BSPHH010733 SHWETABH SRIVASTAVA-10BSPHH010766 SUNIL Kr. YADAV-10BSPHH011074 SAURABH TRIVEDI-10BSPHH011076 NILABH-10BSPHH011081 RAGHINI SHARMA-10BSPHH010936 SHAUNAK GOSWAMI- | Table of Contents Indian Automobile Industry: An Overview 3 A. Macro analysis of Indian Automobile Sector 3 1. PESTEL Analysis 3 I. Political and Legal Factors 3 II. Economic Factors: 4 III. Social Factors: 5 IV. Technological Factors 6 V. Environmental Factors 6 2. Key Drivers of Growth and Change 6 3. Porter’s Diamond 7 I. Factor Conditions 7 II. Demand Conditions 7 III. Related and Supporting Industries 8 IV. Firm Strategy, structure and rivalry 8 B. Micro-analysis of Automobile Industry 9 1. Porter’s 5 Force Framework 9 2. Dynamics of Competition 9 C. Competitors & Markets 10 1. Strategic Groups 10 2. Market Segments 13 3. Identifying Strategic Customer 16 D. Strategic Gaps 17 E. Tata Motors 19 1. Introduction 19 Mission Statement 19 Vision Statement 19 Goal 19 Core Values 19 Market share 19 Revenue and profits 20 Domestic growth 20 2. SWOT Analysis 22 3. Strategies 24 4. Projection...
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...Summary Tata Motors Limited is India’s largest automobile company, the leader in commercial vehicles in each segment, and among the top three in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. The Company is the world's fourth largest truck manufacturer, and the world's third largest bus manufacturer. Tata established in 1945. Over 5.9 million Tata vehicles ply on Indian roads, since the first rolled out in 1954. Tata Motors, the first Company from India's engineering sector to be listed in the New York Stock Exchange (September 2004), has also emerged as an international automobile company. In 2006, Tata Motors formed a joint venture with the Brazil-based Marcopolo, a global leader in body-building for buses and coaches to manufacture fully-built buses and coaches for India and select international markets. In 2006, Tata Motors entered into joint venture with Thonburi Automotive Assembly Plant Company of Thailand to manufacture and market the Company's pickup vehicles in Thailand. In the summer of 2008 Tata Motor's announced that it had successfully purchased the Land Rover and Jaguar brands from Ford Motors for UK £2.3 million. They are running this business under this brand name “Jaguar Land Rover (JLR)”. Tata Motors Limited acquired Daewoo Motor's Commercial vehicle business in 2004 for around USD $16 million. They are running this business under this brand name “Tata Daewoo Commercial Vehicles (TDCV)”. Tata Motors Limited...
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