Tata Group is having more than 100 operating companies in seven different business sectors. They are; * Communication
* Information technologies
* Engineering materials
* Consumer products & chemicals
TATA Group is operating in more than 80 countries across the globe. TATA steel is one of the top 10 steelmakers and TATA motors are among the top 5 vehicle manufacturers in the world. The major TATA companies are: * TATA STEEL
* TATA MOTORS
* TATA CONSULTANCY SREVICES
* TATA POWER
* TATA CHEMICALS
* TATA TELESERVICES
* TAJ HOTELS
Aim: The main aim of this assignment is to provide the necessary understanding of an organization, the objectives and responsibilities of stakeholders and organization and the influence of stakeholders in between business and the local, national and global environments.
1.1. To identify the purposes of different types of organization
To accomplish different goals organizations are set up in specific ways and to achieve these goals structure of an organization can help to its progress. The structure which they use to operate and matching their needs the organization can achieve the higher sales and profits. There are three main types of organizational structure:
* Functional structure
* Divisional structure
* Matrix structure
Functional structure: To group each portion of the organization according to the purpose the functional structure is set up. There may be marketing department, sales department and a production department in this group. This type of structure is suitable for small business in which each department can rely on the talent and knowledge of its workers and support itself but there is a default in the coordination and communication between departments having separate departments working separately.
Divisional structure: The large companies that operates in a wide range of geographical area or which separate smaller organizations within the umbrella group to cover different types of products are used by divisional structure. Needs can be met more rapidly and more specifically is the benefit of having this kind of organizational structure however communication among the employees is inhibited because of different divisions are not working together. Because of the size and scope the divisional structure is costly. Divisional structure can be used on a smaller scale in small business having different offices in different parts.
Matrix structure: Matrix structure is a hybrid of divisional and functional structure and the third important type of organizational structure. This structure is typically used in the multinational companies that allow the benefits of functional and divisional structures to exist in one organization. Most of the areas of the company have a dual management as functional manager and product or divisional manager so it can create power struggle working at same level and covering some of the same managerial territory.
1.2. The list the important stakeholders and objectives of Tata Group to meet them are
The important stakeholders of TATA Group are:
The objectives of three main stakeholders in TATA Groups:
The investors in TATA Group play an important role in making the company expand. They invest their money for the company and they also check whether their investment is running successfully in profit or not. They firstly check that the company is getting profit or going on loss. They invest by keen interest viewing the earlier financial status of TATA Group. The only and main objective of the investors is to make money and get profits. TATA Group has been satisfying its shareholders making huge profits and watching after the needs of its shareholders. The company is among the top companies in the world making...