The Growth Of Mittal Steel Essay example
Ashford University BUS616 International Business
Dr. Johnny Vanneste
November 10, 2014
In today’s world for a company to be able to grow and compete on a level higher than its competitor’s it must eventually seek to move outward into new markets. This growth will not only assist the company in its need for expansion but it can also be beneficial to the local communities the organization moves into by providing jobs and other economical means of growth. Mittal Steel was one of such companies that decided it was time to venture out and become more global in their efforts for expansion and growth. Some of their methods were done with very good timing and some were filled with controversy. Mittal’s ability to grow itself from a small family owned steel business into a global steel power encompasses what it is to go global. This paper will seek to analyze the reasons behind Mittal Steel decision to go global as well as the implications that came with their methods of globalization.
Growth of Mittal Steel Beginning in the early 70’s Mittal Steel began in India with the ambition to eventually expand out. Eventually they found their way into Indonesia. This was the first of many ventures into foreign markets for Mittal Steel. The reasoning behind this move to foreign markets had to do with the limited growth possibilities in their home country. Mittal was facing competition both from a state owned…