Corporate Strategy Tate and Lyle Term Paper

Pages: 4 (1190 words)  ·  Bibliography Sources: 6  ·  File: .docx  ·  Topic: Business

Corporate Strategy

Tate & Lyle - Corporate Strategy

Tate and Lyle was founded in 1921 and it is currently headquartered in London, United Kingdom, to employ over 9,000 people and to register an annual income of 3,814 million GBP (Tate & Lyle 2007 Annual Report), the approximate equivalent of $7,468 million. The company activates at both national and international scale and it is only natural they are faced with local and global competition. In order to survive in the fierce international market, Tate & Lyle implemented numerous strategies, such as:

Participation to international forums of the food industry: such as the Vitafoods, the largest event on nutraceutical, cosmeceutical and functional food ingredients industry in Europe for 2008 (Vitafoods, 2008). During these international conferences, Tate & Lyle has the opportunity to present their products and set the basis for strategic partnerships with potential investors, suppliers, vendors and other intermediaries. Also, they are able to analyze the products and services presented by the competition.

International Research: Tate & Lyle has hired six experts in international industry to constantly analyze their products relative to the global market and provide insight as to how technologies could be used to improve the quality of the manufactured products.

Interactive Marketing: The company constantly communicates with their national and international customers in order to identify and serve their needs and wants as to ensure their leading positionGet full Download Microsoft Word File access
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Term Paper on Corporate Strategy Tate & Lyle - Corporate Assignment

Product Development: Tate & Lyle allocate significant financial resources to the research and development of newer and better products. They launch new products on yearly basis. In addition, their main strategy with regard to R&D is to add more value to their products. "We are committed to continuing to grow the contribution from our value added products. Value added ingredients utilize technology or intellectual property enabling our customers to produce distinctive products and Tate & Lyle to obtain a price premium and/or sustainable higher margins" (Official Website of Tate & Lyle, 2008).

Price Risk: Given the various currencies in the countries where they operate, the company implements numerous measures to protect itself from financial fluctuations. They do this by signing contracts such as futures, options and hedging contracts (Tate & Lyle 2007 Annual Report)

Comply with regulations: Tate & Lyle complies with all regulation imposed by the British government, international organizations, as well as the internal regulations imposed by the countries in which they are present

Mergers and acquisitions: The company's international expansion was primarily based on numerous purchases of foreign companies, such as the U.S. Staley Industries, the Australian Bundaberg or the German Heerman (Lynch, 1998). "We continually evaluate acquisition opportunities that would add strategic value by enabling us to enter new markets or add products, technologies and knowledge more efficiently than we could organically. We also aim to grow our business by forming joint ventures and partnerships to develop and distribute new products, and to enhance the capabilities of our existing ingredient portfolio. Using alliances and joint ventures can be an efficient way to lower our cost of investing in new areas and markets, and help secure access to new and complementary technology and expertise" (Official Website of Tate & Lyle, 2008)

International expansion: The company established two major purposes attached to this strategy. First, they needed to reduce the negative impact of local markets upon the corporate results. Secondly, they had to "balance the downturns in some markets with favorable movements in both prices and growth in other world markets" (Lynch, 1998)

Competitive prices: Given the nature of their activity and its high dependence on crops and agricultural commodities, the prices for… [END OF PREVIEW] . . . READ MORE

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