Preview

Posco Business Strategy

Satisfactory Essays
Open Document
Open Document
492 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Posco Business Strategy
Business Strategy

Seek Opportunities for EPC Projects and Expand Their Production and Supply Chain
Management Infrastructure Abroad
POSCO Group plans to carefully seek out promising business opportunities abroad for EPC (or engineering, procurement and construction) projects in the steel sector, primarily in China, India, Southeast Asia and Latin America, in part to prepare for the eventual maturation of the Korean steel market.

In 2012, they operated 42 supply chain management centers worldwide and they plan to continue expanding their global network of supply chain management centers.

Maintain Technology Leadership in Steel Manufacturing

POSCO plans to further develop core products, such as premium automotive steel sheets, silicon steel and API-grade steel, and make additional investments in developing innovative products new manufacturing technologies and upgrade their facilities through continued modernization and rationalization.

In recent years, POSCO has developed proprietary manufacturing technology that combines the FINEX, a low cost, environmentally friendly steel manufacturing process with an advanced basic oxygen steelmaking process that optimizes their production capacity, enables them to manufacture products at a highly competitive cost structure with lower carbon dioxide emission.

Diversify into Production of Comprehensive Materials, including Lithium, Silicon, Carbon and Magnesium

POSCO plan to leverage their expertise in production of various steel-applied materials and venture into the fast-growing and high value-added business of producing environmentally friendly comprehensive materials, such as lithium, carbon and magnesium.

Further Develop Our Capabilities to become an Integrated Provider of Energy Solutions

POSCO plan to pursue strategic synergies with POSCO Energy Corporation, POSCO E&C and Daewoo International to further strengthen their capabilities in the energy industry, a sustainable business area.
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Royal Craftsmen Business Plan
    • 570 Words
    • 3 Pages

    Royal Craftsmen Business Plan

    We are The Royal Craftsmen of Pennsylvania. Our company was founded by three entrepreneurs who specialize in woodworking and metalworking. We make a wide variety of tools from farming to weaponry. Our products are durable and affordable. We have a wide range of prices depending on the quality of our wood and metal. Our wood is of very good quality, imported straight from Australia. For our metal, we ensure that it is of top quality. We have many plantations and mines in Australia. We pay great attention to every detail to ensure that each and every tool is of top quality and built to last a lifetime. If you invest in our company, you will not regret…

    • 570 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Strategic Plan Part I
    • 646 Words
    • 3 Pages

    Strategic Plan Part I

    Vantage West Credit Union has become a full-service financial institution, offering a wide array of personal and business accounts, ranging from savings and checking accounts, to loans, mortgages, merchant services, and consumer credit cards. The mission statement is “People helping people achieve their financial goals...our #1 priority.” Vantage West serves its members through its branches, online banking system and call center.…

    • 646 Words
    • 3 Pages
    Good Essays
    Read More
  • Powerful Essays

    Nucor
    • 8592 Words
    • 36 Pages

    Nucor

    B. Nucor (NUE) was ranked the first of steel producer in the U.S., and the first “mini-mill” operator, with operating facilities in 14 states. Nucor’s products include sheet steel, bar, structural, plate and others. The company was known for its aggressive pursuit of innovation and technical excellence, rigorous quality system, environmentally friendly products. Nucor’s core strategy is that of cost leadership through the use of technology; it is known as being the low-cost provider. Most business is conducted in the U.S., but the company does have foreign operations and looks at international expansion as a strategic opportunity.…

    • 8592 Words
    • 36 Pages
    Powerful Essays
    Read More
  • Better Essays

    Strategic Plan Part 1
    • 1090 Words
    • 5 Pages

    Strategic Plan Part 1

    Little League Scoops mission is to provide the healthiest homemade ice cream at the same time as supporting the youth in the local neighborhood. Little League Scoops offers two free scoops of ice cream to the little league ball players after his or her ball game. Little League Scoops, aside from management, only employs students from the local high school, providing a learning experience for students preparing to leave high school.…

    • 1090 Words
    • 5 Pages
    Better Essays
    Read More
  • Best Essays

    Strategic Plan Part I
    • 1669 Words
    • 6 Pages

    Strategic Plan Part I

    The mission of Cambridge Behavioral Hospital is always to maintain a commitment to excellence in the care and treatment of their patients. Cambridge Behavioral Hospital’s vision is to provide the finest quality of care, with the highest degree of integrity to the broadest spectrum of consumers (Cambridge Behavioral Hospital, 2014) Key Values of Cambridge Behavioral Hospital include:…

    • 1669 Words
    • 6 Pages
    Best Essays
    Read More
  • Better Essays

    Strategic Plan, Part I
    • 1247 Words
    • 5 Pages

    Strategic Plan, Part I

    ➢ Evaluate how the organization addresses customer needs and critique how it achieves competitive advantage” (UOP, 2011).…

    • 1247 Words
    • 5 Pages
    Better Essays
    Read More
  • Good Essays

    Strategic Plan Part 3
    • 669 Words
    • 3 Pages

    Strategic Plan Part 3

    Similar to a vehicles control board, the balanced scorecard shows indicators of performance that gives an overview of the organization. A balanced scorecard, developed by Robert S. Kaplan and David P. Norton, is a tool that merges financial and nonfinancial measurements into a view of organizational performance linked to the strategy (Pearce & Robinson, 2009). Although several versions of balanced scorecards exist, each defines an organization’s mission, vision, and objectives. Demary & Sons’ mission is to deliver freight professionally and on time while committing to highway safety. The vision is to be among the safest trucking organizations while delivering customer and employee excellence by way of strong relationships.…

    • 669 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Lehigh Steel
    • 1382 Words
    • 6 Pages

    Lehigh Steel

    Lehigh Steel was founded in 1913 and it manufactures specialty steels for high strength, high use applications. In 1975 it was acquired by Palmer due to its ownership of Continuous Rolling Mill, a specialized equipment that convert steel intermediate shape to wire for Palmer’s bearing. The industry as a whole is highly competitive, even a small change in price could alter customers’ consumption decision greatly, keeping costs down is therefore, one of the most important targets Its financial performance was always remarkable because of the high quality of products and loyalty of customers. However, severe downturn performances could be identified since 1991 as the business condition was in recession and the industry started to decline. In order to resurrect the financial performance, Mark Edwards, Director of Operations was eager to change the traditional way of manufacturing. He suggested to adopt toyota’s lean, pull-based manufacturing concepts which could reduce stock piling up and therefore, reduce inventory costs, however this management theory was not perfectly suitable to Lehigh, due to the incapability of current technology to produce small orders efficiently. Although the theory did not apply to Lehigh efficiently, it successfully attracted many new customers who ordered in small quantities, along with the market recovery in 1992, Lehigh faced an increase in demand and it had to decide to emphasize in a few most profitable products in order to create a good product mix and improve the financial performance. As it should be, identifying profitability of products require accurate cost analysis of each product and compare them with their selling prices. The company had a tradition of using standard cost accounting for decision making and this method showed that Alloy was the most profitable product, however, management started to doubt this result as evidence proved that sales of Alloy did not actually have a positive relation…

    • 1382 Words
    • 6 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Nucor Case Study
    • 289 Words
    • 2 Pages

    Nucor Case Study

    Nucor has always been the forward leaning steel manufacturer by continually reinvesting in it existing resources. Although all there are significant threats of supply bargaining power and rivalry among competitors with the new technology, they should take the risk of investing to put themselves ahead of the competition and take the market share early. This will increase their production output and increase their competitive advantage in the industry.…

    • 289 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Nucor Strategy
    • 366 Words
    • 2 Pages

    Nucor Strategy

    Among the strategies that Nucor has employed to obtain and maintain a sustainable competitive advantage over many of its industry rivals, are the high amount of investments in technology and great savings in cost such as carefully selecting the geographical locations for a new plant were electricity is not expensive and also since the scrap metal is expensive they acquired a supplier of scrap metal and started a backward integration process. Throughout their extensive investment in technology in the effort of lowering cost and increasing employee’s performance, Nucor maintains significant cost advantage over their competitors. Besides incredible machinery and high-tech equipment, Nucor has a mini-mill with really advanced technology which uses electric arc furnaces to melt scrap steel and pours it into molds to obtain final products. This mill saves a lot of money since the labor and capital requirement to melt steel scrap and produce crude steel are far lower than those conventional integrated steel mills, were raw steel…

    • 366 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Business Strategy
    • 3166 Words
    • 13 Pages

    Business Strategy

    finding effective and efficient ways to strengthen the company’s competitive assets and to reduce its competitive liabilities.…

    • 3166 Words
    • 13 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Business Strategy
    • 510 Words
    • 3 Pages

    Business Strategy

    1. Has Father Daniel Mary established a future direction for the Carmelite Monks of Wyoming? What is his vision for the monastery? What is his vision for Mystic Monk Coffee? What is the mission of the Carmelite Monks of Wyoming? 2. Does it appear that Father Daniel Mary has set definite objectives and performance targets for achieving his vision? 3. What is Father Prior’s strategy for achieving his vision? What competitive advantage might Mystic Monk Coffee’s strategy produce? 4. Is Mystic Monk Coffee’s strategy a money-maker? What is MMC’s business model? What is your assessment of Mystic Monk Coffee’s customer value proposition? its profit formula? 5. Does the strategy qualify as a winning strategy? Why or why not? 6. What recommendations would you make to Father Daniel Mary in terms of crafting and executing strategy for the monastery’s coffee operations? Are changed needed in its long-term direction? its objectives? its strategy? its approach to strategy execution? Explain.…

    • 510 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Nucor Corporation Case Analysis
    • 2453 Words
    • 10 Pages

    Nucor Corporation Case Analysis

    Per your request I have analyzed Nucor Corporation and the steel industry. After performing both strategic and financial analysis I offer my recommendations.…

    • 2453 Words
    • 10 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Business Strategy
    • 4891 Words
    • 20 Pages

    Business Strategy

    Strategic Management, what is this? It is that set of managerial decisions and actions that determines the long-run performance of a corporation. It includes environmental scanning, strategy formulation and implementation, and evolution and control. The study of Strategic Management helps us to monitoring and evaluating the opportunities and threats of a company’s strengths and weaknesses.…

    • 4891 Words
    • 20 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    Business Strategy
    • 2006 Words
    • 9 Pages

    Business Strategy

    c. Allow people to run the planning process whichever way they want regardless of its effectiveness.…

    • 2006 Words
    • 9 Pages
    Satisfactory Essays
    Read More

Related Topics