MISSION, VISION and VALUES

VISION:

We aspire to be the global steel industry benchmark for Value Creation and Corporate
Citizenship.
We make a difference through:
People: By, fostering team-work, nurturing talent, enhancing leadership capability and acting
with pace, pride and passion.
Our Offer: By becoming the supplier of choice, delivering premium products and services and
creating value for our customers.
Our Innovative Approach: By developing leading edge solutions in technology, processes and
products.
Our Conduct: By providing a safe workplace, respecting the environment, caring for our
communities and demonstrating high ethical standards.

MISSION:

Consistent with the vision and values of the founder Jamsetji Tata, Tata Steel Corus strives to
strengthen Tata Groups industrial base through the effective utilization of staff and materials.
The means envisaged to achieve this are high technology and productivity, consistent with
modern management practices.

Tata Steel recognizes that while honesty and integrity are the essential ingredients of a strong and
stable enterprise, profitability provides the main spark for economic activity.

Overall, the Company seeks to scale the heights of excellence in all that it does in an atmosphere
free from fear and thereby reaffirms its faith in democratic values.

VALUES:

The five brand values are the moral compass and run through everything Tata Steel Corus does.
They are shared by all Tata companies throughout the world and guide the 580,000 employees
across the Tata group.
The five values are:

1. Excellence: We act professionally. We set challenging goals, encouraging innovation and

speed. We get it right first time. We share, learn and improve continuously.

2. Understanding: We grow our knowledge and gain customer intimacy by understanding

their business. We are led by facts and measure what we do.

3. Responsibility: We show personal leadership in health and safety. We act responsibly

towards the environment and community. We demonstrate commitment and ownership.
We act decisively, empower and lead change.

4. Integrity: We role model the Tata Values and debate openly and transparently, building
trust and earning respect. We act ethically.

5. Unity: We create the greatest value when we work together in the interests of our
customers. We take a one company approach. We value diversity and gain strength from
our blend of functions, nationalities and skills.

STRENGTHS and STRATEGIES

RESOURCE BASED STRENGTHS:

1. Geographical Advantage: Before the acquisition TATA steel was 56th in the world in
terms of steel manufacturing capacity and after the acquisition it became the 5th most
geographically diversified company globally, which provided it with huge competitive
and advantage and brand value.

2. Raw Material: Tata Steel own iron ore mines in India in Jamshedpur region which gives
them low-cost advantage, which CORUS was on the lookout for. Also, Tata Steel had
acquired some greenfield iron ore mines in the mineral rich states of Orissa, Chattisgarh
and Jharkhand, which provided both the companies with much needed synergy and low-
cost competitive advantage.
3. Deriving Synergies: Tata steel being the low-cost steel producer in a rapidly developing
region of the world and Corus being the value product manufacturer in the part of the
world that demands high value product. Both, combined together make them competitive
enough to compete the largest steel manufacturer in the world. Also, technology
exchange drove the synergies between the two to a new height.
 4. Cultural: Tata Steels and Corus continuous improvement programs, viz., Aspire and
The Corus Way were based on similar core values. While, Tata steel focused more on
trusteeship, integrity, respect for individual, credibility and excellence, Corus program
was centered around code of ethics, integrity, creating value in steel, customer focus,
selective growth and respect for our own people. Both the organizations had utmost
respect for integrity and respect for people. Which makes them a perfect fit.

5. Sharing Complimentary Strengths: Corus had a strong R&D, the best in the world and
it developed value added products for the automotive, construction and product
packaging industries which was complimented by the operating areas of Tata steel in the
rapidly growing emerging markets.

6. Distribution Network: Tata steels superior distribution network in India, SE Asia and
other emerging Asian markets provides the European manufacturer an in-road to the
developing markets, thus, providing a robust network of resources availability and
distribution of finished products.

STRATEGIES: Tata Steel Corus strives to become the benchmark in terms of value creation
and corporate citizenship in the global steel industry. The five strategic priorities that provide
them with a competitive advantage to realize their mission are:
1. Customer Focus:

a) Their sales and marketing strategy tire to solve the problems in worlds most
demanding markets, including automotive, construction, packaging, rail, lifting &
excavating, energy & power, and aerospace

b) They also invest in projects to improve the product mix and service offering and
transforming the internal supply chain to improve customer service levels

c) Sales representatives and teams work closely alongside customers to better

understand their needs to dictate their production, supply chains and delivery
activities.

2. Innovation:

a) The organization follows a market differentiation strategy, which involves

maximizing the proportion of differentiated products and services in the sales
products and services that few or no others can offer.
 b) Research programs aimed at developing cutting-edge manufacturing and product
technology and at improving the sustainability of steel products through their life
cycles.

c) Also, working as closely as possible with our customers to develop the new products
and services needed by them to succeed in their own markets.

3. Operational Excellence:
a) Continuous investment to upgrade manufacturing and distribution facilities to
improve performance and cost competitiveness.
b) Establish best practices in manufacturing, supply chain management and delivery to
provide maximum benefits to customers.

4. Responsible Behavior:
a) Green, lean and conservative manufacturing to with a special attention to waste
utilization, emission reduction and land reclamation.
b) R&D to develop technologies to tackle the challenges of carbon emissions.
c) Support to communities around which the organization operates by promoting sports
and encouraging economic, environmental, educational and social empowerment.

5. People:
a) Safety primary priority.
b) Committed to those who help the organization succeed.
c) Training programs to engage employees and help employees develop themselves.
d) Inculcate team work, nurture talent, enhance leadership capability and encouragement
to act pace, pride and passion.

VRIO ANALYSIS

This analysis aims to give a better view of substitutability versus inimitability of either different
or similar resources to better control them for the maximum competitive advantage;

(V) VALUABLE:

The resources are used for maximum optimization

Favor local economic independence
Highly available but located in rare locations

(R) RARE:

Tata groups competitive superiority and advantage

Resources located a rare and limited locations
 Corus as value product offering

(I) INMITABILITY:

Lack of competition
Low cost and value based product, hard to copy
High R&D costs
High entry costs
o Infrastructure setup
o High fixed costs

(O) ORGANIZATIONAL:

Tangible brand benefits: Tata and Corus

People centric organizations
Highly valued values and principles
Synergy between the values and the culture of both the organizations.