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Expansion through mergers and acquisitions (M&As) continues to be a viable international strategy utilised by industrial firms. A striking feature of this is that global…
Expansion through mergers and acquisitions (M&As) continues to be a viable international strategy utilised by industrial firms. A striking feature of this is that global giant firms lead the M&A wave and generate an unimaginable impact on relatively small and weak firms across sectors and even nations. There seems to be a kind of ‘cascade effect’ between the industrial consolidations in these areas. A combined cascade model developed in this paper explains that, the power imbalance caused by the degree of consolidation of the players within a firm's value system determines the movement and direction of the ‘cascade effect’. With the existence of such effect, M&A will be a mutually interdependent, dynamic, reversible and endless process among industries.
Nowadays, green supply chain (SC) management acts as an important strategic issue for the manufacturers. The effective SC design requires the development of analytical…
Nowadays, green supply chain (SC) management acts as an important strategic issue for the manufacturers. The effective SC design requires the development of analytical models and design tools. Because of the key role of steel in the infrastructure of industries, this metal is called the development metal. Despite the importance of this industry and its economic and environmental impacts through its SC, the SC structure of this industry has been less studied at the macro level. Therefore, the purpose of this paper is twofold: first, to design the structure of a steel industry SC at three levels; and second, to find the most effective and efficient carbon dioxide emitted industry among the supplier industries of the steel industry SC in China as a case study.
In this paper, due to the relationships among different industries, DEMATEL as a multi-criteria decision-making method has been applied.
A SC structure for the steel industry has been designed at three levels. The results indicated that the industries that had the highest relationship with the steel industry are mine industry, electricity, water, and gas industry, and optical and electrical equipment industry, which were recognized as the first-level suppliers for the steel industry. On the other hand, considering the relationship among the embodied carbon dioxide emissions of various industries in China as a case study, it can be said that among the steel suppliers, the most important polluting industries, respectively, are mining industry, electricity, water, and gas industry, optical and electrical equipment industry, machinery industry, chemicals and chemical products industry and coke, refined petroleum and nuclear fuel industry.
The developed SC can help in providing the steel industries’ managers a basic model for their supplier selection problem at the macro level. This paper can also help the industrial managers to understand the causal relationships among the suppliers of their industries. Finally, this paper can help government and industries managers to discover the most polluted industrial suppliers in the steel industry.
The novelty of this study belongs to the usage of DEMATEL method based on the input-output table to discover the relationships among the industries as well as identifying the main raw material suppliers of the steel industry at three levels. Furthermore, this research discovers the relationships among the embedded carbon dioxide emission of various industries in steel SC to determine the most important polluting industries in steel SC.
This paper is part of a study which attempts to take a different approach to understanding the events which occurred in the U. S. steel industry during the period 1945 to…
This paper is part of a study which attempts to take a different approach to understanding the events which occurred in the U. S. steel industry during the period 1945 to 1985. In undertaking to provide a different form of explanation, this project was principally concerned with searching for an understanding of how those in the industry chose to act in the manner they did. The findings presented demonstrate the extent to which organizational and industry history influence managers′ interpretations of the world in which they exist, and the possibilities for action within that interpretation. Attributions about ones′ self, and others, are slow to change. The narratives which reflect those attributions are important to the organization and to the development of strategic actions. The manner in which steel industry managers chose to understand their role, and the role of others in the industry, had a long‐term impact on the strategies they developed.
The use of accounting to help apply the principles of scientific management to business affairs is associated with the adoption of standard costing and budgetary control…
The use of accounting to help apply the principles of scientific management to business affairs is associated with the adoption of standard costing and budgetary control. This first British industry‐based study of the implementation of these calculative techniques makes use of the case study research tool to interrogate archival data relating to leading iron and steel companies. We demonstrate the adoption of standard costing and budgetary control early on (during the inter‐war period) by a single economic unit, United Steel Companies Ltd, where innovation is attributed to the engineering and scientific background and US experiences of key personnel. Elsewhere, significant management accounting change occurred only with the collapse in iron and steel corporate profitability that began to become apparent in the late 1950s. The process of accounting change is addressed and the significance for our study of the notions of evolution and historical discontinuity is examined. The paper is contextualised through an assessment of initiatives from industry‐based regulatory bodies and consideration of the economic circumstances and business conditions within which management accounting practices were the subject of radical revision.
Iron and steel is an old industry. As a cyclical and a strategically important industry, it has long been subject to extensive government intervention in most countries…
Iron and steel is an old industry. As a cyclical and a strategically important industry, it has long been subject to extensive government intervention in most countries, including Britain. When Labour won the general election in 1945, it was already pledged to nationalise several industries, including coal and steel. But steel had a lower priority than coal; the labour movement had not agreed a plan for steel nationalisation, which became the most complex and bitterly contested of the post‐war nationalisations.
Based on empirical findings from three industries—steel, electric utility, and health care—reindustrialization should not be viewed as simply the investment of substantial…
Based on empirical findings from three industries—steel, electric utility, and health care—reindustrialization should not be viewed as simply the investment of substantial amounts of capital into stagnant or profit‐poor industries. Reindustrialization requires an analysis of the marketplace and an identification of what is necessary to meet customer needs on a competitive basis. The “bottom line” of a company's customer is THE “bottom line.”
The purpose of this paper is to establish the structural relationships between the environmental sustainability enablers (ESEs) for the steel supply chain in India and…
The purpose of this paper is to establish the structural relationships between the environmental sustainability enablers (ESEs) for the steel supply chain in India and also to classify them on the basis of driving and dependence power with an objective of achieving enhanced environmental sustainability performance.
The ESEs were identified through extensive literature review and discussion held with experts from the Indian steel industry. The interpretative structural modeling (ISM) approach was applied to an Indian steel supply chain to arrange these 12 ESEs in different hierarchies of the structural framework on the basis of their driver dependence power and also diagraph was developed to classify them.
The water pollution control system, air pollution control system and soil pollution control system were found to be in the bottom hierarchy of the ISM framework and these enablers were also observed in the driving quadrant of the diagraph. These driving enablers should be given priority for its full-scale development, management and monitoring to sustain and enhance the environmental sustainability in the Indian steel supply chain, whereas top management commitment, environment compliance certification and government regulation and incentives are the antecedents for carrying out the sustainability program.
The outcomes of the current study are limited to the Indian steel manufacturing company in specific but the results will not change significantly for the steel sectors in India. However, an empirical analysis can be used to explore and validate the structural framework for its acceptability.
The outcomes from the methodology provide the basis for an Indian steel manufacturing industry to develop the right strategy in their quest for environmental sustainability.
Although the study on ESEs of various industries was reported in the literature, the comprehensive study to identify the significant ESEs related to the Indian steel supply chain for environmental sustainability in specific have been hardly carried out. The current study will definitely be a valuable addition to environmental sustainability literature in general and steel supply chain environmental sustainability in specific.
How did Japan rise to challenge the U.S. economic supremacy? We argue that the foundation of Japan's rise from a defeated nation in 1945 to an economic powerhouse is the…
How did Japan rise to challenge the U.S. economic supremacy? We argue that the foundation of Japan's rise from a defeated nation in 1945 to an economic powerhouse is the raw materials that Japanese firms have turned into cars, ships, consumer electronics, and of other industrial products. A small island nation that lacked adequate domestic supplies of virtually all the raw materials essential to industrial production became a world leader in the production of steel and of products which required millions of tons per year of raw materials. Japanese firms and the Japanese state turned an apparent material and economic disadvantage, the need to import large volumes of raw materials, into a competitive advantage over the U.S., Europe, and the rest of the world economy by driving down the cost of importing raw materials over long distances. We argue that the strategies of Japanese firms and the Japanese state to resolve the problems of procuring bulk cheaply and reliably from multiple distant locales drove the technical and organizational innovations that underlay Japan's rapid industrial development and restructured the world economy in support of Japan's development. Contrary to claims that globalization supercedes the national state, we find that the actions of the Japanese state, in coordination with firms and industry sectors, were crucial in developing and applying these strategies. The linchpin of these strategies were the MIDAs (Maritime Industrial Development Areas) built on land reclaimed by the Japanese state. This economic success in Japan was also critically dependent on the extraction of billions of dollars of wealth from its raw materials peripheries, most notably Australia, Brazil, and Canada.
Foreign competition has made the US steel and automobile industries effect decentralization operations to the middle south and west — to rural, low‐paid, non‐unionized…
Foreign competition has made the US steel and automobile industries effect decentralization operations to the middle south and west — to rural, low‐paid, non‐unionized labor, and thus maximising profits and increasing management control. All this has led to a reruralization of the US workforce and by selling off operations, profit levels can be enhanced.