British Steel Corporation: probably the biggest turnaround story in UK industrial history
✍ Scribed by Naresh R. Pandit
- Publisher
- John Wiley and Sons
- Year
- 1998
- Tongue
- English
- Weight
- 211 KB
- Volume
- 7
- Category
- Article
- ISSN
- 1086-1718
No coin nor oath required. For personal study only.
✦ Synopsis
British Steel Corporation: probably the biggest turnaround story in UK industrial history
This paper examines the turnaround of the British Steel Corporation (BSC) over the period 1974±89 which has been described by the Financial Times as: `probably the biggest turnaround story in UK industrial history'. This now celebrated case demonstrates that:
. The turnaround of BSC was achieved through measures aimed not only at cutting costs but also at increasing revenues.
. A period of retrenchment was necessary before growth strategies could be pro®tably pursued.
. Timing was an important factor affecting the success of the turnaround effort; and, . The turnaround was achieved whilst BSC was still publicly owned.