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Tata Company was the first major private player to produce steel in India. The economy has seen a lot of downturn in the steel industry but current development in…
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Download file to see previous pages... Tata Steel is the world’s sixth major steel manufacturing company. The company is commercially present in more than fifty countries and operates in more than twenty countries. The company was founded in Jamshedpur, India, in 1970 (Tata Steel, 2009).
The company has extended its operation in investing in Millennium Steel (renamed Tata Steel Thailand), Corus (UK) and NatSteel Holdings (Singapore). The company has also extended its marketing and manufacturing network in Europe, the Pacific-rim countries and South East Asia. The company has the ability to manufacture over 30 million tones of crude steel every year. The company produces basic steel products and crude steel which is used in construction for the building through Tata BlueScope Steel, its venture with Australia’s BlueScope Steel (Tata Steel, 2009).
The company’s external boundaries comprise of the political, economic, technological, legal and social boundaries in the market. The company has to take these challenges to seek maximum benefit from these boundaries.
The economical condition for the steel industry in India was not that strong as compared to the economy of steel industry in other countries. But globalization made the economy of the country to grow as a result the steel industry in India also grew making Tata Steel to grow as it was the first private steel manufacturing industry in India and operating internationally with regard to the globalization policy.
Tata Steel started to export in the foreign markets as well as venturing into the new market with collaboration and acquisition of different steel companies making the company grow in the world economy. History is evident that no other Indian steel company has developed and expanded as Tata Steel industry did. The company has huge capacity to produce enormous tone of steel for the world consumption making the company compete in the world as a ...Download file to see next pagesRead More
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