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Tata Group relies on a very methodical, focused approach to defining its expansion strategy. First, specific industries are targeted where Tata has a significant strength from an intellectual property (IP) standpoint, in addition to an established business. Potential firms to partner with through a joint venture or acquire through stock and cash-based transactions are next defined (Lamont, 2010). Tata does not rush into the acquisition or joint venture process however. They work to build consensus with the key stakeholders that will define the success or failure of their global expansion strategy. In the case of acquiring Land Rover and Jaguar, the company met for nearly a year with UK-based unions at the company's plants (Evans, 2010). Next, the Tata Group will often define share objectives of how the acquisition din fusion of investment from them will increase the social good and get the entire region more enriched through CSR programs and initiatives (Sen, 2009). It is no surprise that Tata follows this sequence, as foreign companies entering India must do all these steps successfully.
These process steps are used across all industries the company competes in. The benefits of this strategy are that it gets the stakeholders involved in the ownership and success of the joint venture or acquisition early on, overcoming resistance to change. Second, this approach also ensures that the systems and procedures of the company being partnered with or acquired will be more easily integrated into Tata's as there...
Third, Tata seeks to bring CSR-based funding to communities, many of which are in acute need of investment as they are often in more economically challenged manufacturing sectors globally. The disadvantages of this approach are the time and cost involved. This is very expensive to do well, and often requires legal advice and teams to negotiate through any contracts or government-sponsored wages and salary program (Sen, 2009). Second, this can also fail as a strategy as at any time stakeholders can refused to deal with Tata and reject their programs and initiatives. Third, this sequence of strategies must move faster in some industries, like steel for example, than in others like autos. The pace of this strategic series of steps varies by industry, and Tata must concentrate on how to set the pace of these steps to ensure their expansion strategies are successful.
References
K.R. Balasubramanyam. (2010, July). Plane-maker India: It is difficult to imagine India as an aviation factory destination. But if its civil and defence aircraft needs continue to grow, that could soon be reality.. Business Today
Evans, R. (2010). Tata's outbound strategy. International Financial Law Review, 29(2), 30-31.
James Lamont. (2010, August 5). Tata searches for new chairman. Financial Times,1.
Sen, S.. (2009). Tata Group: Transforming the Sleeping Elephant. IUP Journal of Business Strategy, 6(1), 31-45.
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