Globalization is becoming a common thing nowadays, as companies and people around the globe are becoming more connected to each other than ever before. Information and money flow more quickly now. Goods and services produced in one part of the world are increasingly available in all parts of the world and international communication is easy. The "globalization." era has actually started more than 2 decades ago (Modelski, 1972). Technological innovation, the rise of market institutions, advances in production and incentives for long-distance trade stimulated businesses worldwide to reach other parts of the globe. Thus, the international markets are seemingly attractive to most businesses and more businesses are now trying to capture markets internationally to gain competitive advantage and also economies of scale which will eventually lead to higher returns. Rio Tinto is one such company.
Rio Tinto is a successful international company in finding, mining and processing the earth's mineral resources such as aluminium, copper, gold, diamonds, industrial minerals (borax, titanium dioxide, etc), iron ore and energy products (coal and uranium).
Rio Tinto is a combination of several subsidiaries with each subsidiary focusing on a type of product. This report will be focusing on Rio Tinto's industrial minerals group of ilmenite miners that are comprise of wholly owned QIT - Fer et Titane in Canada and also 50% interest Richards Bays Mineral located in South Africa. Both subsidiary mine ilmenite which produces titanium dioxide as the main products that are usually used for pigments used in paper, plastics, paints, etc.
This report will analyze the importance of both the general and industry assessment and the impact environment will have on the company, strategies that are set to achieve the organization goals and also Porter's 5 forces theory for the industry assessment. The report will be focusing on a mix...