Tata Steel • Integrated Report • Risks and opportunities

• The capitals
• Connectivity of information

Key observations:

The report offers a comprehensive overview of where the organization wants to go and how it intends to get there (International <IR> Framework, 4E). In particular, it clearly and concisely describes, through the use of tables, and connects, through narrative, the main risks that could affect the organization’s ability to create value in the short-, medium- and long-term (pp. 11-12) in pursuing its strategy (p. 18) (International <IR> Framework, 4.29). The strategic objectives, which are grouped in two key areas (“Value creation” and “Corporate Citizenship”), have been identified on the basis of the challenges and opportunities that have arisen from the business environment. The effects on capitals are also illustrated both in relation to risks and strategies.