Industry: Steel Industry

Competitive & Business Forces Analysis

Industry Analysis

What causes the industry's competitive structure and business environment to change? From the list below, identify the 4 most dominant forces driving change in your industry and assess their impact on the industry. Include for each one of the 4 that you chose, and describe why it will have a significant impact on your industry.

globalization industry growth (rate) entry or exit of firms who buys/how product is used preferences for differentiated products product innovation e-commerce

marketing innovation diffusion of technical know-how technological change changes in cost & efficiency regulation organized labor social issues, ethics, concerns uncertainty & risk

1. Globalization
2. Preferences for differentiated
3. Technology Change
4. Changes in cost & efficiency

Do you expect any of these four to change over the next 2-4 years? If so, list the ones you expect to change and describe how or what you expect to change.

References

https://www.steel.org/industry-data/reports/

https://blog.boydmetals.com/the-past-present-and-future-of-the-american-steel-industry