Tata Steel

991 Words2 Pages

Tata Steel

Every organization has key stakeholders. These are those who are affected by its products, services and activities or it can be those whose concerns can change the show of business.

The Company’s Vision for Tata Steel: “to seize the opportunities of tomorrow and create a future that will make it an EVA positive Company and to continue to improve the quality of life of its employees and the communities it serves”

This statement clearly states that Tata Steel will continue to develop the excellence of employees and the communities it serves. Also group Purpose underscores the Tata values on Nation building. The company believes in returning back to the society that they have earned by developing trust among the shareholders, employees, consumers, and communities.

Tata Steel has identified in balancing the stakeholders needs and they consider this as a key strategic issue. The identification of the stakeholders is done from the vision of the company, which sets the strategic directions and strategic goals. Thus the total stakeholders of the company comprises of Shareholders, Financial Community, Customers, Media, Community, Employees, Regulators, Suppliers and Partners. The company treats the stakeholders as one of the Key Enterprise Processes.

Stakeholder Analysis and its Positioning

A) Shareholders, Financial Community

B) Regulators,

C) Customers, Suppliers, Employees, Media

D) Community

The Companies Approach to Stakeholders Consultation and Communication

1. Shareholders and Financial Community

The shareholders and financial community like banks, financial institutes etc are regarded as the important stakeholders in the company. The company meets the investors across the globe and organise Annual General Meeting. The company sends the quarterly and half-yearly reports to them and updating them about the different policies that the company is planning to do. The company also organizes Shareholders Relation Meet and Customer Forum. The Managing Director also calls for a conference with the customer groups. The meeting with the shareholders is done as per plan annually. The company has to do this because they have to inform the shareholders that how the company is doing and they have to build trust among the shareholders and financial institutes because they are the ones’ who have invested in the company and company has to take proper care of them in respect from making the policy for the company. Both the stake holder and finanical communites have high power and high interest in the operations of the company. So are regarded as key players in the stakeholder analysis.

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