Strategic Management: The Case of Rio Tinto Limited in relation to the Global Financial Crisis (GFC) Rio Tinto limited This paper analyzes a case study of Rio Tinto Limited in relation to strategic management theory given the reaction of the firm to the recent global financial crisis. Rio Tinto limited is a multinational company dealing in metals and mining processes. The company’s headquarter is based in London and management office is in Australia. The company began in 1873 when investors from different parts of the world bought mining ground that was at river Rio Tonto. This study will analyze the impact of Global Financial Crisis (GFC) on Rio Tonto limited. Many companies experienced the effects of the global financial crisis that occurred in 2008/2009. The crisis marked one of the recent tragedies in the world of commerce. Rio Tinto Limited felt the wrath of this financial phenomenon. Forbes ranked the company among the top five in Australia in 2007 when crisis was marking its first phase. The company offers a reliable study of application in Forster's work on strategic management. The company is involved in the production of raw materials used in metal industries such as copper, diamond, bauxite, core, uranium, and iron ore. Rio Tinto is equally famous for mining industrial minerals such as titanium dioxide, gypsum, talc borates, and salt. The Strategic management theory has key elements that relate to Rio Tinto during and post crisis era. Both the internal and external environments must balance for the success of the business. The external environment affecting the operations of the company comprise of the customers, competitors, and the immediate community. Rio Tinto is based in Australia, though it h... ... middle of paper ... ...e. Rio Tinton survived it. The company should approach the current challenges with understanding and tolerance. Its goals should include environmental protection. It must also gear its stand towards protecting and safeguarding the rights of the workers in order to improve its global image. Rio Tinto limited also faces some criticism. The company has been criticized for environmental pollution. The company is further criticized by labor organization and human rights on kind of salary and workers welfare given in that company. The human rights group has criticized the company for having to embrace the rights and welfare of the workers. References Rio Tinto. (2013). “Rio Tinto results for the year ended 31 December 2012.” Media release. Retrieved on 7 May 2014 from: http://www.riotinto.com/documents/pr801g_rio_tinto_results_for_the_year_ended_31_december_2012.pdf
The case study, `Will GM 's Strategic Plan Lead to Success,` is about how the company General Motors Co. Plans to overcome financial deficits, ensure growth within the company, and remain competitive in the automotive industry. To help with overcoming financial deficits, GM was apart of the bailout, which assisted GM in relieving themselves of almost $40 billion dollars of debt. This restructuring gave GM an advantage over other automakers. Most other automotive businesses, that did not participate in the bailout, still have billions of dollars of debt they must repay in addition to competing with its adversaries.(Kinicki & Williams, 2013). GM made many cutbacks to ensure growth within the company. The reduced the amount models that are in production. They have recognized that some changes need to be implemented with global production in order to remain ahead.
Dess, G. G., Lumpkin, G. T., Eisner, A. B., & McNamara, G. (2012). Strategic Management: Text & Cases (6th Ed.). New York, NY: McGraw-Hill.
Pearce, J.A., & Robinson, R.B. (2013) Strategic Management: Planning for Domestic and Global Competition. (13th Ed.). Boston, MA: McGraw-Hill/Irwin. ISBN-13: 9780078029295
Works Cited Carpenter, MA & Sanders, WG 2007, Strategic management: concepts: a dynamic perspective, Prentice Hall, New Jersy. Furrer, O 2010, Corporate level strategy: theory and applications, Taylor & Francis, New York, NY. Hill, C & Jones, G 2009, Strategic management theory: an integrated approach, Cengage Learning, New York, NY.
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In 1999, following the transition to civilian rule and after an inspirational visit to Brazil to study the emerging manufacturing sector, the business made a strategic decision to transit from a trading based business into a fully fledged manufacturing organization. In a country where imports constitute the vast majority of consumed goods, a clear gap existed for a manufacturing organization that could meet the 'basic needs' of a vast and fast growing population.
Mason Carpenter, G. S. (2013). Strategic Management: Concepts and Cases Second Edition. Harlow: South-Western Pub.
Hitt, M., Ireland, R. & Hoskisson, R. (2010).Strategic Management: Competitive and Globalization, Concept and Cases. Mason, Ohio: Cengage Learning
• Hitt, Michael A; Hokisson, Robert E.; Ireland, RD. Strategic Management. 6th Ed., Masson, Ohio: Souht. Wester 2005.
Planning is an essential process in today’s organizations. Based on the three types of managers: top-level (strategic managers), middle-level (tactical managers), and frontline (operational managers), exist three corresponding levels of planning: strategic, tactical, and operational. The purpose of this essay is to focus on the strategic level of planning for the Ford Motor Company; a leader in the global automobile industry. Strategic planning, according to Bateman and Snell (2009), “involves making decisions about the organization’s long-term goals and strategies” (p. 137). This paper will elaborate on six key influential factors: economic, environmental, competition, foreign policy, domestic policy, and innovation; that shape this corporation’s strategic plan. Finally, a SWOTT analysis will be conducted covering the strengths, weaknesses, opportunities, threats, and trends, that the Ford Motor Company has in relation to its business environment.
The mining industry is a billion dollar industry that has been around for years. In calendar your 2016 a net profit of $US20 billion was the aggregated profit for global miners. The year before, 2015, the mining industry had a record high gearing ratios, 49%. The industry took advantage of better operation conditions to pay down debt, reducing the gearing ratios to 41%. Many company front line executives took advantage to reduce debt and fortify their company balance sheets. The results of reducing company debts resulted in minimum funds for capital expenditure
Ford Motor Company Strategic Audit Abstract The purpose of this paper is to give a brief detail of the strategic audit of Ford Motor Company. The method of research used was Internet research by topic. In addition to the class textbook audit example used, other written references in the area of Ford Motor Company were used, in order to develop the subject more in detail.
Strategic management is a disciplined effort or control to make necessary decisions that have an effect on a business or an organization; the aim of strategic management is mainly to develop new, innovative or diverse ideas and opportunities for potential or development, and facilitates or assists an organization to achieve its goals (SM, 2010). In reality, strategic management not only can be used or applied to determine mission, vision and values or objectives, but it also establishes roles and responsibilities or timelines in a business (David, 2009). In the following sections, this study will focus on and examine the nature of strategy formulation, implementation, and evaluation activities, and analyze the potential pitfalls or risks in using a strategic-management approach to decision making.
Hitt, M., Ireland, and Hoskisson, R. (2009).Strategic management: Competitive and Globalization, Concepts and Cases. In M.Staudt & Stranz (Ed).
The rapid development of media and technology in the world market today has helped companies to sell their products and get in touch with their customers more easily (Rayburn, 2012). However the success of a company depends on many factors, not that only whether it has brilliant advertisement or marketing campaigns. The main aim of a company is to create shareholder’s value which according to Bender and Ward (2008), companies have to manage both well in a trading environment and financial environment in order to do that. Hence, the financial strategy can be seen as one of the most important factors in contributing to the business’s success especially to a large company such as Unilever as it is all about strategic decisions related to raising and manage the funds in the most appropriate manner.