The Tata Motors Firm’s Risk Management Report

Exclusively available on Available only on IvyPanda® Made by Human No AI

It is significant to emphasize that the risk assessment will assist the company in evaluating what threats may arise in the future and how they will affect the organization’s operations. Thus, after a risk analysis, the business can strengthen the areas that need better protection and prioritize and preventively address challenges (Bundy et al., 2017). Appropriately, the possibility of crises at the individual, group, or system level should be examined. It should be determined whether a specific employee can negatively influence the company’s performance or whether customers, competitors, or other third parties can change the situation in the organization (Coombs & Laufer, 2018). Accordingly, crisis management must evaluate the general corporate system and the individual and group contributions of employees, suppliers, or clients.

It should be mentioned that Tata Motors can prevent the emergence of a crisis. Therefore, it is essential to analyze the external environment, especially the material suppliers, and to establish their prices following the company’s policy. Consequently, it is crucial to negotiate mutually beneficial cooperation or to search for new raw materials (Malagihal, 2021). Significantly, before a crisis appears, it will assist the organization in finding raw materials at advantageous rates without interruption of production.

If expensive raw materials will reduce the company’s profits and new contracts cannot be concluded, it is imperative to raise the prices of new cars. At the same time, it is significant for Tata Motors to conduct an additional advertising campaign to stimulate demand for its products despite higher costs. Another tool to help maintain car production and cover costs is a government loan (Shafiulla, 2019). Therefore, Tata Motors needs to discuss the preferential rates of its repayment with the bank. These tools will support the organization in managing the crisis and provide time to explore alternatives for raw materials.

References

Bundy, J., Pfarrer, M. D., Short, C. E., & Coombs, W. T. (2017). Crises and crisis management: Integration, interpretation, and research development. Journal of Management, 43(6), 1661-1692.

Coombs, W. T., & Laufer, D. (2018). Global crisis management–current research and future directions. Journal of International Management, 24(3), 199-203.

Malagihal, S. S. (2021). Strategic Options for Automobile OEMs of Indian Origin to have Sustained Competitive Advantage: A Case of Tata Motors. International Journal of Global Business and Competitiveness, 16(2), 139-152.

Shafiulla, B. (2019). Tata Zica to Tata Tiago: Digital marketing strategy of Tata Motors for rebranding. IUP Journal of Marketing Management, 18(3), 40-59.

More related papers Related Essay Examples
Cite This paper
You're welcome to use this sample in your assignment. Be sure to cite it correctly

Reference

IvyPanda. (2023, February 16). The Tata Motors Firm's Risk Management. https://ivypanda.com/essays/the-tata-motors-firms-risk-management/

Work Cited

"The Tata Motors Firm's Risk Management." IvyPanda, 16 Feb. 2023, ivypanda.com/essays/the-tata-motors-firms-risk-management/.

References

IvyPanda. (2023) 'The Tata Motors Firm's Risk Management'. 16 February.

References

IvyPanda. 2023. "The Tata Motors Firm's Risk Management." February 16, 2023. https://ivypanda.com/essays/the-tata-motors-firms-risk-management/.

1. IvyPanda. "The Tata Motors Firm's Risk Management." February 16, 2023. https://ivypanda.com/essays/the-tata-motors-firms-risk-management/.


Bibliography


IvyPanda. "The Tata Motors Firm's Risk Management." February 16, 2023. https://ivypanda.com/essays/the-tata-motors-firms-risk-management/.

If, for any reason, you believe that this content should not be published on our website, please request its removal.
Updated:
This academic paper example has been carefully picked, checked and refined by our editorial team.
No AI was involved: only quilified experts contributed.
You are free to use it for the following purposes:
  • To find inspiration for your paper and overcome writer’s block
  • As a source of information (ensure proper referencing)
  • As a template for you assignment
Privacy Settings

IvyPanda uses cookies and similar technologies to enhance your experience, enabling functionalities such as:

  • Basic site functions
  • Ensuring secure, safe transactions
  • Secure account login
  • Remembering account, browser, and regional preferences
  • Remembering privacy and security settings
  • Analyzing site traffic and usage
  • Personalized search, content, and recommendations
  • Displaying relevant, targeted ads on and off IvyPanda

Please refer to IvyPanda's Cookies Policy and Privacy Policy for detailed information.

Required Cookies & Technologies
Always active

Certain technologies we use are essential for critical functions such as security and site integrity, account authentication, security and privacy preferences, internal site usage and maintenance data, and ensuring the site operates correctly for browsing and transactions.

Site Customization

Cookies and similar technologies are used to enhance your experience by:

  • Remembering general and regional preferences
  • Personalizing content, search, recommendations, and offers

Some functions, such as personalized recommendations, account preferences, or localization, may not work correctly without these technologies. For more details, please refer to IvyPanda's Cookies Policy.

Personalized Advertising

To enable personalized advertising (such as interest-based ads), we may share your data with our marketing and advertising partners using cookies and other technologies. These partners may have their own information collected about you. Turning off the personalized advertising setting won't stop you from seeing IvyPanda ads, but it may make the ads you see less relevant or more repetitive.

Personalized advertising may be considered a "sale" or "sharing" of the information under California and other state privacy laws, and you may have the right to opt out. Turning off personalized advertising allows you to exercise your right to opt out. Learn more in IvyPanda's Cookies Policy and Privacy Policy.

1 / 1