Transnational Marriages in the Steel Industry: Experience and Lessons For Global Business

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Overview

Drawing upon case studies of firms in the steel industry, authors show that companies competing internationally can pool their strengths to offset their individual weaknesses, enabling them to build economically successful entities more easily than if each company tried to go it alone in competition with rivals. In doing so they show how the world steel industry emerged into a group of international joint ventures and how in each of these transnational marriages the whole became greater than the sum of its parts. Among the authors' main points are: cultural conflicts are minimized by economic success but magnified by failure; expertise and commitment can overcome national differences, and even failing international joint ventures can be rehabilitated. Important reading for professionals in all areas of international business and for their colleagues in the academic community.

Included in each case study is a history of the firms and the emerging joint venture. Authors described the condition of facilities, the rehabilitation and construction of new facilities, the financial relationships between firms and the sources of funding, and their corporate structures. Cultural differences between firms and their impact on the success of the relationship are examined closely, with particular emphasis on personnel selection, training supervision, labor relations, retention and promotion policies and policies on tenure and layoff. Authors look at labor productivity and the use of participative management and other team approaches, relating them to such measurable variables as product quality, corporate profitability, and indeed the ultimate survival of each newly created firm. From there the authors show how the experiences of the steel industry and the lessons learned from its transnational alliances can be applied to other industries and to their own joint ventures.

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Editorial Reviews

Booknews
Presents detailed case studies of international joint ventures by six US steel mills, and shorter descriptions of the other 11 major joint ventures in the industry during the 1980s. The studies are supported by chapters on the history and theory of joint ventures, the role of steel in industrialization, the specific conditions and responses of US steel companies during the decade, lessons from the joint ventures, and theoretical implications. For managers in any industry considering international joint ventures. Distributed in the US by Greenwood. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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Product Details

  • ISBN-13: 9781567200409
  • Publisher: ABC-Clio, LLC
  • Publication date: 5/30/1996
  • Pages: 216
  • Lexile: 1450L (what's this?)
  • Product dimensions: 6.00 (w) x 9.00 (h) x 0.63 (d)

Meet the Author

GARTH L. MANGUM is Max McGraw Professor of Economics and Management at the David Eccles School of Business, University of Utah.

SAE-YOUNG KIM is Associate Professor and Chairman of the Department of International Trade at the Dankook University, Seoul, Korea.

STEPHEN B. TALLMAN is Associate Professor of Management at the David Eccles School of Business, University of Utah.

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Table of Contents

Tables and Figures
1 The Emergence of International Joint Ventures 1
2 The International Joint Venture from a Theoretical Perspective 9
3 Steel Industry Challenges of the 1980s 25
4 Steel Industry Joint Venture Responses 63
5 Steel Case Studies - Three Integrated Mills 77
6 Steel Case Studies - Three Finishing Mills 115
7 Lessons from Steel Industry Joint Ventures 157
8 Theoretical Implications 179
Conclusion 195
Notes 196
Index 199
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