potentially adopt a new technology (rather than the traditional continuous casting system) at its Mon Valley complex. However, in in the process of deciding whether to implement the technology, USX was faced with the challenge of increasing market growth through innovation in a mature market and exploiting growth avenues that would result in high gains without high risk. Additionally, USX was faced with the emergence of smaller mills in the competitive market (i.e. competitive market changes), the complexities of assessing a new technology based on information from a competitor that has different resource and technological needs and constraints, and meeting the growth expectations of consumers and other shareholders, all without becoming a victim to the success or growth dilemma. First, USX was challenged with how to continue growth as a competitor in a mature steel market. USX was aware of the need to further reduce costs and increase efficiency in order to remain competitive in the market. As such, it actively explored new technology and innovations. The initial goal of the Company was to implement the continuous casting and hot rolling mills at a third mill just as it had done at two other mills, as described above. Doing so would present different challenges due to the unique nature of that mill, which was not one mill, but rather a complex consisting of two mills located in Monongahela Valley. The first mill was the Edgar Thompson (E.T.) Works and the other the Irvin Mill. USX put together an expert team of engineers and researchers to develop and implement the continuous casting process between the two mills. The result would be a $600 million investment. Although USX was proactive in researching and engineering the potential for the traditional continuous casting system at Mon Valley, the ability to gain a
competitive advantage would still be limited. If the traditional continuous casting system, as described above, were implemented, the company would certainly reduce costs and increase efficiency over the previous...