Business Plan Improvements the Financial Business Plan

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Supplier power

Suppliers tend to have a moderate power on the steel industry. This situation is mostly determined by the switching costs of firms in the industry. Another factor of influence on this situation is represented by the importance of volume to suppliers.

Entry barriers

It is difficult for companies to enter the steel industry. This is because of the great investments that are required in order to produce steel products or to purchase them. The limited success to distribution is another factor that increases the difficulty of addressing this industry.

3. Market analysis

This industry is characterized by an increasing demand for steel. The business sectors that report such significant demand increase of steel are represented by: the construction, the infrastructure, and automobile sectors. Producers of steel and organizations in the field tend to focus on developing user friendly steel products. This can be achieved by developing light weighted steel products. This is intended to help companies in the steel business develop and implement strategies that support the environment (EconomyWatch, 2010). The most important objective of these strategies refers to reducing the pollution associated with the steel production.

The international steel industry is significantly developing as a result of several factors.

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The most important factor that influences the development of this industry on international level is represented by the development and implementation of liberalization policies across the world. Another important factor is represented by the development of emerging markets, like Asian countries that have great production potential. The international steel market is dominated by Asian countries.

It is expected that the steel industry will continue its development. The demand determined by numerous development projects like infrastructural and real estate projects can mostly be associated with developing countries. The market is dominated by Chinese and U.S. steel producers, but India is continuously increasing its market share by the numerous acquisitions made by Indian steel companies. The innovations that producers are trying to develop refer to pollution reduction, cost minimization, and production increase. The most important technological developments in the field are represented by thin-slab casting, which allows steel production to be made in more environmentally friendly conditions. Therefore, it is important that companies develop strategies that can increase the efficiency of their production.

Reference list:

1. Porter's Five Forces (2010). QuickMBA. Retrieved February 10, 2012 from http://www.quickmba.com/strategy/porter.shtml.

2. Steel Industry Analysis (2010).….....

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