Individual Work 2
Individual Work
DJ Funderburk
MAN6721-1 – Week 2
Professor Gray-Baker October 25, 2014
Individual Work
Case Discussion Questions 1, 2, and 4 on page 78
Question 1United States Steel Industry
The Five Forces that are described in this Case is as follows: 1) the risk of the new entry by potential competitors, 2) The extent of rivalry with other stabled firms, 3) The bargaining power of buyers, 4) The bargaining power with the suppliers, 5) The threat of substitute products. The stronger the company is, the more competitive others will be towards that company or industry so that they will have to lower the prices to stay in the loop, 6) the power of complement providers” (Hill and Jones, 2013).
If we take a hard look at the steel industry in the world today, steel industries are what our buildings and corporations are founded on. I have said before that the basis of a company is the foundation. This is the way we start, and with all the competition with the competitors, companies have to make sure that they find the right construction steel industry to use, because I would want to use the best and the one that has good rating with the BBB. “The risk of entry by potential competitors is the function of the height of barriers to entries, which is factor that makes it costly for companies to enter an industry” (Griffin, 2014). I have realized that the steel industry is a supply and a demand just because there is a great deal of the steel industry comes from overseas. All of this is taken into consideration when it comes to the profit that the Steel Industry makes.
Do you think there are any strategic groups in the U. S. Steel industry? What might they be? How might the nature of competition vary from group to group?
Some of the countries that are part of this steel industry are India, Russia, and China and of course Brazil in which the steel market became more productive in the early 2000. China is one of the more popular worldwide producers of
DJ Funderburk
MAN6721-1 – Week 2
Professor Gray-Baker October 25, 2014
Individual Work
Case Discussion Questions 1, 2, and 4 on page 78
Question 1United States Steel Industry
The Five Forces that are described in this Case is as follows: 1) the risk of the new entry by potential competitors, 2) The extent of rivalry with other stabled firms, 3) The bargaining power of buyers, 4) The bargaining power with the suppliers, 5) The threat of substitute products. The stronger the company is, the more competitive others will be towards that company or industry so that they will have to lower the prices to stay in the loop, 6) the power of complement providers” (Hill and Jones, 2013).
If we take a hard look at the steel industry in the world today, steel industries are what our buildings and corporations are founded on. I have said before that the basis of a company is the foundation. This is the way we start, and with all the competition with the competitors, companies have to make sure that they find the right construction steel industry to use, because I would want to use the best and the one that has good rating with the BBB. “The risk of entry by potential competitors is the function of the height of barriers to entries, which is factor that makes it costly for companies to enter an industry” (Griffin, 2014). I have realized that the steel industry is a supply and a demand just because there is a great deal of the steel industry comes from overseas. All of this is taken into consideration when it comes to the profit that the Steel Industry makes.
Do you think there are any strategic groups in the U. S. Steel industry? What might they be? How might the nature of competition vary from group to group?
Some of the countries that are part of this steel industry are India, Russia, and China and of course Brazil in which the steel market became more productive in the early 2000. China is one of the more popular worldwide producers of