Tata Group
1.0 Source Problems
Being able to maintain Tata Groups core values and vision; during a time of uncertainty in the economy and in the internal organisation as well.
2.0 Secondary Problems
These problems can be identified separately as short or long term problems. Whereby the short term problems are ones that can be solved and addressed currently or instantly, whereas long term problems having to take some careful planning and analysis and require solutions that are spread out over a couple of years instead.
Short-Term Problems
2.1 It is known that the current chairman of Tata Group, Ratan Tata is close to stepping down from his position and retiring. With this, comes the challenge of identifying a suitable and qualified successor. As Ratan Tata is seen as the person who has brought Tata Group into the global market by stepping out of their comfort zones and investing in new opportunities, filling his shoes could be an uphill task for any candidate that will eventually be selected for the role.
2.2 Tata Group would also lose its ability to help fund the society because of New Economy realities. With a much tighter budget due to the numerous investments and business acquisitions, Tata Group’s generosity will now be put to the test.
Long-Term Problems
2.3 There is a lack of a central system in the Tata Group. All its entities have been working independently and lack a centrally focused objective. It is said that the entire Tata Group does not even have consolidated financial statements. All subsidiaries and members of Tata Group will have to learn to adapt to a more central system, in order to better appreciate the entire organizations vision.
2.4 Another long-term problem would be the overall development of India and the World economy at the moment. If the country continues to be corrupt and its people are made to live in poverty, it could prove to be a stumbling block and will result in a stunted growth for Tata Group.
2.5 Tata Group has
Being able to maintain Tata Groups core values and vision; during a time of uncertainty in the economy and in the internal organisation as well.
2.0 Secondary Problems
These problems can be identified separately as short or long term problems. Whereby the short term problems are ones that can be solved and addressed currently or instantly, whereas long term problems having to take some careful planning and analysis and require solutions that are spread out over a couple of years instead.
Short-Term Problems
2.1 It is known that the current chairman of Tata Group, Ratan Tata is close to stepping down from his position and retiring. With this, comes the challenge of identifying a suitable and qualified successor. As Ratan Tata is seen as the person who has brought Tata Group into the global market by stepping out of their comfort zones and investing in new opportunities, filling his shoes could be an uphill task for any candidate that will eventually be selected for the role.
2.2 Tata Group would also lose its ability to help fund the society because of New Economy realities. With a much tighter budget due to the numerous investments and business acquisitions, Tata Group’s generosity will now be put to the test.
Long-Term Problems
2.3 There is a lack of a central system in the Tata Group. All its entities have been working independently and lack a centrally focused objective. It is said that the entire Tata Group does not even have consolidated financial statements. All subsidiaries and members of Tata Group will have to learn to adapt to a more central system, in order to better appreciate the entire organizations vision.
2.4 Another long-term problem would be the overall development of India and the World economy at the moment. If the country continues to be corrupt and its people are made to live in poverty, it could prove to be a stumbling block and will result in a stunted growth for Tata Group.
2.5 Tata Group has
References: 1. Tata Group. 2012. Tata Group, Our Businesses, Tata Companies. http://www.tata.com/company/index.aspx?sectid=21vxqwHGkoo= 2. Tata Group. 2012. Tata Group, Investor Desk, Group Financials. http://www.tata.com/htm/Group_Investor_GroupFinancials.htm 3. The Economist. 2011. The World Economy: Be Afraid. http://www.economist.com/node/21530986 4. The Times of India. 2011. Ratan Tata’s Successor: Cyrus Mistry to lead Tata Group. http://timesofindia.indiatimes.com/business/india-business/Ratan-Tatas-successor-Cyrus-Mistry-to-lead-Tata-Group/articleshow/10843952.cms 5. BBC.2011. “India: Tata becomes India’s wealthiest group”. BBC news, June 20. http://www.bbc.co.uk/news/world-south-asia-13838362