Why Bethlehem Steel Fought To Success?

Propped during the industrial revolution, Bethlehem Steel dominated the steel landscape for almost a century. From roads to bridges to ships to steel skyscrapers to laying down railroad tracks, Bethlehem Steel became a household name across the country. But with its guns and glory came the unfortunate downfall due to strategic management. Below is the picture of a late 1800s watercolor depicting Bethlehem: In Good-to-Great, what differentiated good-to-great companies from comparison companies is getting the “right people” on the bus, and this is where Bethlehem Steel ends up as a comparison company. The firm didn’t hire Level-5 executives. They were more concerned about their paychecks rather than the direction of the company in the years to come by. Examples such as Fannie Mae (success) vs Great Western (failure), Bank of America (failure) vs Wells Fargo (success), Procter & Gamble (failure) vs Scott Paper (success) demonstrates why one company roared to success while the
Applying fox concept would’ve allowed different scenarios to explore. For example, the firm could have mined other metals and manufactured at an affordable price; this would have allowed to compensate the workers $2-3/hour more. It could have diversified into other construction materials business where it would’ve supplied materials to other industrial as well as residential buildings. Below is the picture of a book I