Rio Tinto Group's Sustainable Development Agenda Description
During Sir Robert Wilson's 30+-year Rio Tinto career, the company evolved from taking a reactive response to external stakeholder criticism to a proactive position to help the mining industry embrace sustainable development practices. Wilson championed Rio Tinto's efforts to transform the company with initiatives such as those that countered apartheid in South Africa; introduced conservation programs in Madagascar and Western Australia; and established the Inland Sea Shorebird Reserve project in Utah-efforts which have all become models for the mining industry. He championed the Global Mining Initiative and the Mining Minerals and Sustainable Development project to encourage the improvement of industry sustainable development practices thorough shared learning and dialogue. Along with 40 transnational companies, Rio Tinto signed the Global Compact, which supported the promotion of sustainable development. Despite all of these activities, Rio Tinto encountered significant criticism from a variety of stakeholders. As Sir Robert Wilson prepared to hand over the reins of the company to oil industry veteran Paul Skinner, he contemplated the insights he would pass along to his successor. He was certain that society's expectations of the corporate responsibility of all industry, and especially of MNCs, were going to continue to increase. He was also certain that sustainable development had to be more than a one-off effect on communities in which they operate. Yet, there were important questions to be answered: Sustainable development sounded good, but could Rio Tinto make the business case for embracing this approach? Why had some stakeholder groups persisted in believing that a mining company claiming to embrace sustainable development was a sham? What steps would he recommend that Skinner take to continue Rio Tinto's sustainable development agenda?
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Case Analysis of Rio Tinto Group's Sustainable Development Agenda
Rio Tinto Group's Sustainable Development Agenda is a Harvard Business (HBR) Case Study on Leadership & Managing People , Texas Business School provides HBR case study assignment help for just $9. Texas Business School(TBS) case study solution is based on HBR Case Study Method framework, TBS expertise & global insights. Rio Tinto Group's Sustainable Development Agenda is designed and drafted in a manner to allow the HBR case study reader to analyze a real-world problem by putting reader into the position of the decision maker. Rio Tinto Group's Sustainable Development Agenda case study will help professionals, MBA, EMBA, and leaders to develop a broad and clear understanding of casecategory challenges. Rio Tinto Group's Sustainable Development Agenda will also provide insight into areas such as – wordlist , strategy, leadership, sales and marketing, and negotiations.
Case Study Solutions Background Work
Rio Tinto Group's Sustainable Development Agenda
case study solution
is focused on solving the strategic and operational challenges the protagonist of the case is facing. The challenges involve – evaluation of strategic options, key role of Leadership & Managing People, leadership qualities of the protagonist, and dynamics of the external environment. The challenge in front of the protagonist, of Rio Tinto Group's Sustainable Development Agenda, is to not only build a competitive position of the organization but also to sustain it over a period of time.
Strategic Management Tools Used in Case Study Solution
The Rio Tinto Group's Sustainable Development Agenda case study solution requires the MBA, EMBA, executive, professional to have a deep understanding of various strategic management tools such as SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.
Texas Business School Approach to Leadership & Managing People Solutions
In the Texas Business School, Rio Tinto Group's Sustainable Development Agenda case study solution – following strategic tools are used - SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.
We have additionally used the concept of supply chain management and leadership framework to build a comprehensive case study solution for the case – Rio Tinto Group's Sustainable Development Agenda
Step 1 – Problem Identification of Rio Tinto Group's Sustainable Development Agenda - Harvard Business School Case Study
The first step to solve HBR Rio Tinto Group's Sustainable Development Agenda case study solution is to identify the problem present in the case. The problem statement of the case is provided in the beginning of the case where the protagonist is contemplating various options in the face of numerous challenges that Rio Tinto is facing right now. Even though the problem statement is essentially – “Leadership & Managing People” challenge but it has impacted by others factors such as communication in the organization, uncertainty in the external environment, leadership in Rio Tinto, style of leadership and organization structure, marketing and sales, organizational behavior, strategy, internal politics, stakeholders priorities and more.
Step 2 – External Environment Analysis
Texas Business School approach of case study analysis – Conclusion, Reasons, Evidences - provides a framework to analyze every HBR case study. It requires conducting robust external environmental analysis to decipher evidences for the reasons presented in the Rio Tinto Group's Sustainable Development Agenda.
The external environment analysis of Rio Tinto Group's Sustainable Development Agenda will ensure that we are keeping a tab on the macro-environment factors that are directly and indirectly impacting the business of the firm.
What is PESTEL Analysis? Briefly Explained
PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Rio Tinto Group's Sustainable Development Agenda case study. PESTEL analysis of " Rio Tinto Group's Sustainable Development Agenda" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.
How to do PESTEL / PEST / STEP Analysis? What are the components of PESTEL Analysis?
As mentioned above PESTEL Analysis has six elements – political, economic, social, technological, environmental, and legal. All the six elements are explained in context with Rio Tinto Group's Sustainable Development Agenda macro-environment and how it impacts the businesses of the firm.
How to do PESTEL Analysis for Rio Tinto Group's Sustainable Development Agenda
To do comprehensive PESTEL analysis of case study – Rio Tinto Group's Sustainable Development Agenda , we have researched numerous components under the six factors of PESTEL analysis.
Political Factors that Impact Rio Tinto Group's Sustainable Development Agenda
Political factors impact seven key decision making areas – economic environment, socio-cultural environment, rate of innovation & investment in research & development, environmental laws, legal requirements, and acceptance of new technologies.
Policy Making Impact on Rio Tinto Group's Sustainable Development Agenda
Government policies have significant impact on the business environment of any country. The firm in “ Rio Tinto Group's Sustainable Development Agenda ” needs to navigate these policy decisions to create either an edge for itself or reduce the negative impact of the policy as far as possible.
Data safety laws – The countries in which Rio Tinto is operating, firms are required to store customer data within the premises of the country. Rio Tinto needs to restructure its IT policies to accommodate these changes. In the EU countries, firms are required to make special provision for privacy issues and other laws.
Competition Regulations – Numerous countries have strong competition laws both regarding the monopoly conditions and day to day fair business practices. Rio Tinto Group's Sustainable Development Agenda has numerous instances where the competition regulations aspects can be scrutinized.
Import restrictions on products – Before entering the new market, Rio Tinto in case study Rio Tinto Group's Sustainable Development Agenda" should look into the import restrictions that may be present in the prospective market.
Export restrictions on products – Apart from direct product export restrictions in field of technology and agriculture, a number of countries also have capital controls. Rio Tinto in case study “ Rio Tinto Group's Sustainable Development Agenda ” should look into these export restrictions policies.
Foreign Direct Investment Policies – Government policies favors local companies over international policies, Rio Tinto in case study “ Rio Tinto Group's Sustainable Development Agenda ” should understand in minute details regarding the Foreign Direct Investment policies of the prospective market.
Taxation & Regulation Impact on Rio Tinto Group's Sustainable Development Agenda
Corporate Taxes – The rate of taxes is often used by governments to lure foreign direct investments or increase domestic investment in a certain sector. Corporate taxation can be divided into two categories – taxes on profits and taxes on operations. Taxes on profits number is important for companies that already have a sustainable business model, while taxes on operations is far more significant for companies that are looking to set up new plants or operations.
Tariffs – Chekout how much tariffs the firm needs to pay in the “ Rio Tinto Group's Sustainable Development Agenda ” case study. The level of tariffs will determine the viability of the business model that the firm is contemplating. If the tariffs are high then it will be extremely difficult to compete with the local competitors. But if the tariffs are between 5-10% then Rio Tinto can compete against other competitors.
Government Scheme & Subsidies Impact on Rio Tinto Group's Sustainable Development Agenda
Research and Development Subsidies and Policies – Governments often provide tax breaks and other incentives for companies to innovate in various sectors of priority. Managers at Rio Tinto Group's Sustainable Development Agenda case study have to assess whether their business can benefit from such government assistance and subsidies.
Consumer protection – Different countries have different consumer protection laws. Managers need to clarify not only the consumer protection laws in advance but also legal implications if the firm fails to meet any of them.
Political System & Stability, and its Impact on Rio Tinto Group's Sustainable Development Agenda
Political System and Its Implications – Different political systems have different approach to free market and entrepreneurship. Managers need to assess these factors even before entering the market.
Freedom of Press is critical for fair trade and transparency. Countries where freedom of press is not prevalent there are high chances of both political and commercial corruption.
Corruption level – Rio Tinto needs to assess the level of corruptions both at the official level and at the market level, even before entering a new market. To tackle the menace of corruption – a firm should have a clear SOP that provides managers at each level what to do when they encounter instances of either systematic corruption or bureaucrats looking to take bribes from the firm.
Independence of judiciary – It is critical for fair business practices. If a country doesn’t have independent judiciary then there is no point entry into such a country for business.
Government attitude towards trade unions – Different political systems and government have different attitude towards trade unions and collective bargaining. The firm needs to assess – its comfort dealing with the unions and regulations regarding unions in a given market or industry. If both are on the same page then it makes sense to enter, otherwise it doesn’t.
Economic Factors that Impact Rio Tinto Group's Sustainable Development Agenda
Social Factors that Impact Rio Tinto Group's Sustainable Development Agenda
Technological Factors that Impact Rio Tinto Group's Sustainable Development Agenda
Environmental Factors that Impact Rio Tinto Group's Sustainable Development Agenda
Legal Factors that Impact Rio Tinto Group's Sustainable Development Agenda
Step 3 – Industry Specific Analysis
What is Porter Five Forces Analysis
PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Rio Tinto Group's Sustainable Development Agenda case study. PESTEL analysis of " Rio Tinto Group's Sustainable Development Agenda" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.
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