SUMMARY
This Case Based report consists a brief introduction Bethlehem Steel Corporation, timeline, facts and SWOT analysis of the Bethlehem Steel Corporation. The data was limited as the business grew in the older times. The data is taken mainly from books and news articles. Recommendation that could improve the situation of Bethlehem Steel Corporation has been given in the end.
INTRODUCTION
In 1904, the Bethlehem Steel Corporation (also known as Bethlehem Steel) was a steel as well as shipbuilding company started. The Bethlehem Steel can be seen in 1857 with the inception of Bethlehem Iron Company. It was also called Bethlehem Iron. The bequest of Bethlehem steel started in 1899 with starting of Bethlehem Steel also known as Bethlehem Steel Company. The Bethlehem Steel company rented property from Bethlehem Iron Company during 1899 and 1901. It took the ownership of …show more content…
Nearly 165,000 people were employed by Bethlehem Steel making it the highest employment rate and years of prosperity for workers since World War 2.
7. In the years of closure, Bethlehem Steel produced 22.3 millions of raw steel and shipped 16.3 million tons of finished steel which became company’s record.
8. Some of the Bethlehem site has been made into a National Museum in America indicating the intensity of role of Bethlehem steel in building the nation.
Factors that led to collapse of Bethlehem Steel
1. Heavy Loans for modernization
Since the foreigners has started getting modern and efficient technology, the Bethlehem Steel did not stop from modernizing its technique and spent almost $4.5 Billion on enhancing the quality of its mills in 70’s and 80’s. In 1982, it was recorded that the losses alone were fifty two percent of the total capital and losses amounted to $1.9 billion.
2. Higher pay of the Bethlehem Steel workers
The pay of the workers in Bethlehem steel was 60% more than the average factor worker. This was a result of poor labor-management relationship.
3. Rising Pension
This Case Based report consists a brief introduction Bethlehem Steel Corporation, timeline, facts and SWOT analysis of the Bethlehem Steel Corporation. The data was limited as the business grew in the older times. The data is taken mainly from books and news articles. Recommendation that could improve the situation of Bethlehem Steel Corporation has been given in the end.
INTRODUCTION
In 1904, the Bethlehem Steel Corporation (also known as Bethlehem Steel) was a steel as well as shipbuilding company started. The Bethlehem Steel can be seen in 1857 with the inception of Bethlehem Iron Company. It was also called Bethlehem Iron. The bequest of Bethlehem steel started in 1899 with starting of Bethlehem Steel also known as Bethlehem Steel Company. The Bethlehem Steel company rented property from Bethlehem Iron Company during 1899 and 1901. It took the ownership of …show more content…
Nearly 165,000 people were employed by Bethlehem Steel making it the highest employment rate and years of prosperity for workers since World War 2.
7. In the years of closure, Bethlehem Steel produced 22.3 millions of raw steel and shipped 16.3 million tons of finished steel which became company’s record.
8. Some of the Bethlehem site has been made into a National Museum in America indicating the intensity of role of Bethlehem steel in building the nation.
Factors that led to collapse of Bethlehem Steel
1. Heavy Loans for modernization
Since the foreigners has started getting modern and efficient technology, the Bethlehem Steel did not stop from modernizing its technique and spent almost $4.5 Billion on enhancing the quality of its mills in 70’s and 80’s. In 1982, it was recorded that the losses alone were fifty two percent of the total capital and losses amounted to $1.9 billion.
2. Higher pay of the Bethlehem Steel workers
The pay of the workers in Bethlehem steel was 60% more than the average factor worker. This was a result of poor labor-management relationship.
3. Rising Pension