1. Source problem
The source problem for this case study is the lack of the managerial power of the successors of Ratan Tata since the expansion of the company will need much effort from the managers and make joint ventures for the future sustainability (Cartwright & Cooper, 2012). The traditional views of the company could also affect the operations of the company in better ways. The Tata managers also have not showed much interest in showing the dominance in the emerging markets.
2. Secondary problem
There are some secondary problems in this case study as well. As per the critics, it can be said that the Tata Group of Companies have not been applying the strategies to their operations that would be much beneficial for their foreign market expansion (Kotabe & Helsen, 2014). There have not been much clear plans on how the company will handle Corus and its operations. They also have not been able to make high bids for the Land Rover and Jaguar because of the high entry costs (Cartwright & Cooper, 2012).
As per the critics of the case study, it has been found that the Tata is the leading conglomerate company in the entire India. The various types of business services and products will be very much important for the growth of the company in the Western markets. During the study, it has been found that the company has grown up to be the biggest producer of their products in abundance (Yan & Luo, 2016). Ratan Tata is considered as the main man behind implementing the projects within the country. The executives of the company have not shown much interest in the bidding process for Land Rover and Jaguar. The company has been facing some problems in their profit margins for the lack of leadership expertise. There are the opportunities for the company that they can earn millions of dollars by profits. As they have begun to joint venture with British Petroleum (BP) it will probably bring a positive change to their operations.
It is very important for the company to analyze the opportunities they have in front of them. They must know that they have a huge market share and a good brand reputation due to the image of Ratan Tata. This will surely be beneficial for the organization to raise the profits. Ratan Tata has always favored the innovation process for the proper growth of the company. He had initially dreamt of the car made of plastics (Yan & Luo, 2016). This would seem to be an out of the box thinking. The services and products have been increasing as per the words of the critics. The major services and products like the Tata Steel, Tata Motors, Tata Tea and many other brands. Some of the executives have not been interested in the foreign market expansion for some definite reasons (Baker, 2014). The comparisons between that of India and China had been made to prepare the various strategies for the foreign market expansion. These things could be the basic steps for the future market success according to the words of the scholars (Anuradha 2016).
The alternatives could be suggested that the company should look to implement some alternative strategies (Gillespie & Riddle, 2015). They might intend to make a proper business innovation model to cater to the cause of the foreign market expansion. The takeover of the Corus Group and joint venturing strategy with the British Petroleum should be more consolidated. The transformation of the company should be the primary focus of the company (Baker, 2014). The successor of Ratan Tata must be eyeing for the global expansion as the company should look to increase their revenues.
Some recommendations should be given in this section to judge how the company can flourish more in the Western countries. As the critics have argued, there are huge resources for the future success of the company (Armstrong et al. 2015). Tata can look to increase their market share in the retail industry. This should be much beneficial for them if they look to grab a large portion of the Asian market (Morgan, 2012). The focus of the executives must be on investing more money on the Western markets and competing with the Western conglomerates. These promising markets should be utilized by making joint venturing strategy in the best ways (Armstrong et al. 2015).
6. Implementation, control and Follow-up
The plan for the joint venturing strategies should be implemented properly by assessing the market size and the need for the proper resources within the region. The control of this program must be in the hands of Ratan Tata before he decides to retire. The proper monitoring and follow up should be made by the executive committee of the company positively.
Anuradha, B. A. (2016). Management Challenges in Uncertain Environment. Universal Journal of Management, 4(8), 432-443.
Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014). Principles of marketing. Pearson Australia.
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction.
Baker, M. J. (2014). Marketing strategy and management. Macmillan International Higher Education.
Cartwright, S., & Cooper, C. L. (2012). Managing mergers acquisitions and strategic alliances. Routledge.
Gillespie, K., & Riddle, L. (2015). Global marketing. Routledge.
Kotabe, M., & Helsen, K. (2014). Global marketing management.
Morgan, N. A. (2012). Marketing and business performance. Journal of the Academy of Marketing Science, 40(1), 102-119.
Singh, S., & Srivastava, P. (2012). The turnaround of Tata Nano: reinventing the wheel. Vision, 16(1), 45-52.
Yan, A., & Luo, Y. (2016). International Joint Ventures: Theory and Practice: Theory and Practice. Routledge.