Worthington Industry

In: Business and Management

Submitted By Dragonized
Words 1162
Pages 5
Case #6
WORTHINGTON INDUSTRIES

Case summary

The Worthington steel company founded 1955, essentially invented the steel processing industry as it exist today. The company, head quartered in Columbus, Ohio, operated 53 plants in 11 country and boasted 7.500 employees. John H. McConnell founded the company in 1955. An established leader with more than 1.000 customers. Worthington steel served a broad range of markets, including automotive, lawn and garden, construction, hard were, furniture, and office equipment, electric control, leisure and recreation, appliances and farm implement. The company offered the widest range of services in the industry, from slitting and blanking to hydrogen annealing, hot dipped galvanizing and nickel plating.

The founder developed a the company's values through Worthington industries' Philosophy as follows:
Earnings
Our golden rule
People
Customer
Supplier
Organization
Communication
Citizenship

At the core ofof these values is the golden rule : treat others the way one wanted to be treated.

The Administrative systems of Worthington company are considered under the following sections : values, organization structure, human resources polities and reward systems.

Question
Evaluate the management system at Worthington industries from the standpoint of how they help the company to outperform its competitors.

ANALYSIS
The Worthington steel company have four key success factors and have Worthington industries' Philosophy to help to outperform from they competitor, as follows :

1.Value
The company have developed the company' values and as result the Worthington was very customers-centric. Workers produced high-quality products and gave attentive services to their customers. It resulted in the company's sales force having a better understanding of their customers need and exceeded the customers' expectation…...

Similar Documents

Industry

...com • nick.pudar@gm.com • jim.smith@onstar.com • m.paich@att.net We developed a multimethod modeling approach to evaluate strategic alternatives for GM’s OnStar communications system. We used dynamic modeling to address some decisions GM faced in 1997, such as the company’s choice between incremental and aggressive marketing strategies for OnStar. We used an integrated simulation model for analyzing the new telematics industry, consisting of six sectors: customer acquisition, customer choice, alliances, customer service, financial dynamics, and dealer behavior. The modeling effort had important financial, organizational, and societal results. The OnStar business now has two million subscribers, an 80 percent market share of the emerging telematics market, and has been valued at between $4 and $10 billion. The OnStar project set the stage for a broader GM initiative in service businesses that ultimately could yield billions in incremental earnings. Most important, OnStar has saved many lives that otherwise would have been lost in vehicle accidents. (Industries: communications. Transportation: automotive.) G eneral Motors (GM) assembled a project team consisting of the authors of this paper to develop its OnStar telematics business. Telematics is the provision of communications services to cars, including crash notification, navigation, Internet access, and traffic information. We used a multimethod modeling approach to design the OnStar business model and to analyze the......

Words: 6641 - Pages: 27

Industry

...Below is a listing of potential Industries and a few examples of businesses and jobs that can be group under each industry. I will take one or two examples and try to explain how it will all work. The Fishing Industry as an example: The old ways of fishing cannot compete in the Global industry today, hence a need for a new and improve means of doing business. Communities will have to designate a portion of the water body to build a fishing port. A fishing harbor will provide a means of docking and undocking, building of boats and other marine lives. Fishing Boats with more sophisticated navigational systems to locate fishes and the ones that can venture into open waters should be built; Canoes just cannot do the job today. Fish Farming must be considered to ensure a year round supply of fish to fuel the industry. Inland fishing should also be looked at. Research Centers must be established to keep the industry at par with new technologies. Students of Universities can engage in Marine Biology and/or Aquarium Science in studying the ocean and its inhabitants and how to protect the environment. Fish Centers with packaging and preservation capabilities should also be built to help control the prices better. A constant source of market must be available to further enhance the industry. Small private businesses that can support this industry are: Restaurants, Grocery Stores, Barbering Shops, Auto mechanics, Law Firms, Communication Centers, Accounting......

Words: 1278 - Pages: 6

Worthington Industries Case 12 3

...captive BPO, for a total consideration of USD 504.54 million. In addition, Citi signed an agreement with the company to provide process outsourcing services to Citi and their affiliates for an aggregate amount of USD 2.5 billion over a period of 9.5 years. During the year, the company through their subsidiary, Tata Consultancy Services Asia Pacific Pte Ltd, subscribed to 100% share capital of Tata Consultancy Services (Thailand) Ltd and Tata Consultancy Services (Philippines) Inc. In June 2008, the company got $11.5 million transformational deal to design, install and integrate a tax administration system for the Uganda Revenue Authority (URA). In July 29, 2008, the company won the highest incremental improvement award and moved to the Industry Leader position in the Tata Business Excellence Model ('TBEM') at the JRD QV Awards ceremony. In October 22, 2008, the Tata Infotech Deutschland GmbH has merged with Tata Consultancy Services Deutschland GmbH. The merged entity is a wholly owned subsidiary of the company. In December 11, 2008, the company subscribed to 50% share capital of National Power Exchange Ltd, established to promote trading of electrical power in India. In June 5, 2009, the company, through their wholly owned subsidiary, Tata Consultancy Services Canada Inc, acquired 100% interest in ERI Holdings Corp. In January 1, 2010, the company, through their wholly owned subsidiary, TCS Iberoamerica S.A., subscribed to 100% interest of TCS Uruguay S.A. In January 1, 2010...

Words: 2260 - Pages: 10

Worthington

...Running head: WORTHINGTON INDUSTRIES CASE 12-3 1 Worthington Industries Case 12-3 MBA Worthington Industries Case 12-3 Worthington Industries has a long history of success in steel processing and metals-related businesses. From 1995 to 1999, they increased sales consistently yearover-year. During 1995, the company reported net sales of $1.126 billion. By 1999, net sales grew to $1.763 billion, an increase of 57 percent (Anthony & Govindarajan, 2007). There are four key factors of their management system that have helped them exceed their competitor’s performance. These four factors include their values, organizational structure, human resource policies, and their reward systems. Values The first key factor is the company’s values. The company founder developed these values and they have remained at their core ever since. There are eight rules or statements that make up the company’s philosophy. These eight statements include earnings, their golden rule, people, customers, suppliers, the organization, communication and citizenship. The heart of these values is the golden rule of treating others the way you want to be treated. They apply this rule to their customers, employees, investors, and suppliers. The first priority for the company is to earn money for their shareholders (employees are also encouraged to become shareholders through the company’s profit sharing plan) and increase the value of their investment. They measure this through growth earnings per share.......

Words: 1019 - Pages: 5

Industry

...*  Industry (s) are described in terms of: Used household and office goods moving. | * growth rate: For the year of 2013, there were a total of 7,263 establishment in the US and there was 278 establishments in Colorado alone. There is expected to be an increase of sales by 3.6% from 2013 to 2014. | * dollar volume | * Industry Structure:  The used household and moving office goods industry can be described as a mixture of consolidated and fragmented. There are large companies that control a large percentage of the market. Smaller companies are allowed a share of the market by offering a low pricing strategy. * The changing environment The marketing environment bears no * resemblance to the original development of the structure. The * modifications are constantly becoming more dynamic and drastic. The new * characteristics of the market include: * • Distribution channels with increasing power. Retailers now use modem * technology to develop on-line databases and support their store image. * They use all the communicational means traditionally used for the * support of the manufacturers' brands and develop own-label products * competitive to the manufacturers' brands. They also transfer the names * from the shop to the products and differentiate their brands in * attributes other than price (Uncles and Ellis, 1989; Davies, 1992; Baltas, * 1997; Richardson, 1997; A^arwal and Cha, 1998). As a result......

Words: 918 - Pages: 4

Industry

...that customers and society value. Outputs are specific things that the companies deliver to (help to) achieve Those outcomes. 2. DIFFERENTIAL PRICING Some firms charge different prices for the same product in different zones / areas of the market. Sometimes, the differentiation in pricing is made on the basis of customer class rather than marketing territory. Sometimes, the differentiation is on the basis of volume of purchase. Differentiation on the basis of volume is more common than differentiation based on customer class in marketing territory. 3. GOING RATE OR “FOLLOW THE CROWD” In this method, the firm prices its products at the same level as that of the competition. This method assumes that there will be no price wars within the industry. This is a method commonly used in an oligopolistic market. Despite its advantage of preventing price wars, the method suffers from serious limitations. The first is that, it is not necessarily true that all firms or the leader firm is operating efficiently. In case, it is not, it will mean that the follower firm will also adopt a price level which reflects leader’s inefficiency rather than the firm’s efficiency. Besides, it is not always true that a decision taken in collective wisdom is the best. It may certainly not be so from the customer’s point of view. 4. DEMAND / MARKET BASED PRICING The following methods belong to the category of demand / market based pricing: * ‘What The Traffic Can Bear’ Pricing * Skimming Pricing ......

Words: 638 - Pages: 3

Industry

...Has the question “How Does the Entertainment Industry have an Effect on Society?” ever crossed your mind? Well I believe that this question has appeared in so many people’s life, especially parents of children and teens in today society. This question raises so many flags in the mind of people today. However, one way that it affects society is that it gives off the impression that you can have freedom of speech in a negative way. Secondly it promotes that violence is the way to settle a situation. Lastly the industry promotes the use of illegal drugs is not a bad entity. Not only will we will discuss the negative that the entertainment industry promotes, we will also state positive ways that can help the industry affect society. Why do you believe that the freedom of speech has an effect on society? It has an effect because to many people believe that they have the right to go around threatening and abusing the amendment that was freely given to them. Furthermore, the entertainment industry has promoted to the world that it’s okay to use foul language to one another. What most people don’t know or understand is that by using negative slurs you’re destroying the person instead of lifting them up. We need more positivity in the entertainment industry rather than negativity. Why is violence such a common act in generations of today’s society? There are so many people in each generation that grew up not knowing one or even both of their parents. Not having your mother......

Words: 352 - Pages: 2

Industry

...adviesrapport samengesteld. Het adviesrapport betreft de winstberekeningsmethode van het onderzoek dat uitgevoerd is voor Bohemia Industries. In dit rapport is een advies beschreven over een effectief C 8 methode dat toegepast kan worden binnen de financiën van Bohemia Industries. Mede dankzij dit onderzoek heb ik me meer kunnen verdiepen in het interne rapportage systeem A 1. Verder hoop ik dat mijn rapportage een bijdrage zal leveren aan Bohemia Industries. (In het eindrapportage zal de voorwoord meer inhoud bevatten, dit betreft een concept) ------------------------------------------------- Inhoudsopgave R 55 Voorwoord 1 1. Inleiding 3 1.1 Achtergrond 3 1.2 Doestelling rapport 3 1.3 Hoofdvraag en deelvragen 3 1.4 Onderzoeksmethode 3 2. Onderzoeksresultaten 4 2.1 Welke methodes zijn er die toegepast kunnen worden bij Bohemia Industries? 4 2.2 Wat zijn de voor- en nadelen van de verschillende methodes? 5 2.3 Bij welke methode zal de omzetstijging een betere beeld over de huidige winst binnen Bohemia Industries weergeven? 5 2.4 Bij welk methode zal het bedrijf een hogere marktwaarde hebben? 6 2.5 Welke analyse moet men toepassen om een betrouwbaar toekomstperspectief te krijgen? 6 n. CONCLUSIE Bronnen 7 ------------------------------------------------- Inleiding R 54 - ZIE JE INHOUDSOPGAVE Bohemia Industries is een onderneming die produceert op de internationale markt. In de afgelopen maand is naar voren gekomen dat de......

Words: 501 - Pages: 3

Industry

...MarketLine Industry Profile Global Data Processing & Outsourced Services June 2011 Reference Code: 0199-2312 Publication Date: June 2011 WWW.MARKETLINE.COM MARKETLINE. THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Global - Data Processing & Outsourced Services © MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED 0199 - 2312 - 2010 Page | 1 EXECUTIVE SUMMARY Market value The global data processing & outsourced services market grew by 3.2% in 2010 to reach a value of $601.1 billion. Market value forecast In 2015, the global data processing & outsourced services market is forecast to have a value of $854.5 billion, an increase of 42.2% since 2010. Category segmentation IT outsourcing (ITO) is the largest segment of the global data processing & outsourced services market, accounting for 48.6% of the market's total value. Geography segmentation Americas accounts for 44.2% of the global data processing & outsourced services market value. Market share IBM is the leading player in the global data processing & outsourced services market, generating a 3.7% share of the market's value. Market rivalry The market is fragmented despite the presence of large, international incumbents, who together account for 10.2% of global revenues. Global - Data Processing & Outsourced Services © MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED 0199 - 2312 - 2010 Page | 2 TABLE OF......

Words: 9838 - Pages: 40

Worthington

...   WORTHINGTON INDUSTRIES1.INTRODUCTIONThe Worthington steel company founded 1955, essentially invented the steel processing industry as it exit today. Thecompany, head quartered in Columbus, Ohio, operated 53 plants in 11 country and boasted 7.500 employees. John H.McConnell founded the company in 1955.An established leader with more than 1.000 customers. Worthington steel served a broad range of markets, includingautomotive, lawn and garden, construction, hard were, furniture, and office equipment, electric control, leisure andrecreation, appliances and farm implement. The company offered the widest range of services in the industry, from slittingand blanking to hydrogen annealing, hot dipped galvanizing and nickel plating.The Administrative systems of Worthington company are considered under the following sections : values, organizationstructure, human resources polities and reward systems. 2.PROBLEM STATEMENTEvaluate the management system at Worthington industries from the standpoint of how they help the company tooutperform its competitors. 3.ANALYSISThe Worthington steel company have four key success factors and have Worthington industries' Philosophy to help tooutperform from they competitor, as follows : 1.ValueThe company have developed the company' values and as result the Worthington was very customers focused. Workers produced high-quality products and gave attentive services. Worthington's sales people worked not just to meet but toexceed customers'......

Words: 394 - Pages: 2

Worthington Industries

...Worthington industries Industri Worthington WORTHINGTON INDUSTRIES The Worthington perusahaan baja didirikan tahun 1955, pada dasarnya diciptakan industri pengolahan baja karena ada saat ini. Perusahaan, berkantor pusat di Columbus, Ohio, dioperasikan 53 tanaman di 11 negara dan membual 7.500 karyawan. John H. McConnell mendirikan perusahaan pada tahun 1955. Seorang pemimpin didirikan dengan lebih dari 1.000 pelanggan. Worthington baja disajikan berbagai pasar, termasuk otomotif, rumput dan taman, konstruksi, keras yang, furnitur, dan peralatan kantor, kontrol listrik, waktu luang dan rekreasi, peralatan dan pertanian menerapkan. Perusahaan menawarkan jangkauan terluas layanan di industri, dari menggorok dan blanking hidrogen anil, panas dicelup galvanis dan nikel plating. Pendiri mengembangkan nilai-nilai suatu perusahaan melalui Filsafat Worthington industri 'sebagai berikut: Penghasilan Aturan emas kami Orang-orang Pelanggan Pemasok Organisasi Komunikasi Kewarganegaraan Pada inti ofof nilai-nilai ini adalah aturan emas: perlakukan orang lain dengan cara yang salah satu ingin diperlakukan. Sistem Administrasi perusahaan Worthington dianggap di bawah bagian berikut: nilai-nilai, struktur organisasi, sumber daya manusia dan polities sistem reward. Pertanyaan Mengevaluasi sistem manajemen di industri Worthington dari sudut pandang bagaimana mereka membantu perusahaan untuk mengungguli para pesaingnya. ANALISIS Perusahaan......

Words: 268 - Pages: 2

Industry

...manufacturers in India. Ashok Leyland buses carry over 70 million passengers every day. Close to 700,000 of the Company's vehicles keep the wheels of economies turning and, with nearly 70,000 Stallion vehicles in use, Ashok Leyland is also the largest supplier of logistics vehicles to the Indian Army. The Company's product range spans from 2.5T Gross Vehicle Weight to 49T Gross Trailer Weight in trucks and from 18 seaters to 80 seaters in buses, apart from a host of special application vehicles and diesel engines for industrial, marine and genset applications. These are manufactured from seven facilities located across India with an annual installed capacity of 150,000 vehicles. Optare is one of the most respected names in the United Kingdom bus industry. Optare designs, manufactures and sells single deck and double deck buses, and offers a comprehensive after sales service. Building on a history of innovation, Optare has developed a range of low-carbon buses using enhanced diesel technology, alternative fuel options and hybrid systems, and even full electric drivelines which are available across entire product ranges. And with reduced weight designs and optimised drive systems, Optare has set the benchmark for fuel economy and CO2 reduction. Optare's buses operate not only in the United Kingdom but also in Continental Europe, North America and further afield. The Company also supplies complete vehicles, CKD or SKD kits, technology transfer and licensing agreements......

Words: 3924 - Pages: 16

Worthington Industry

...Case #6 WORTHINGTON INDUSTRIES Case summary The Worthington steel company founded 1955, essentially invented the steel processing industry as it exist today. The company, head quartered in Columbus, Ohio, operated 53 plants in 11 country and boasted 7.500 employees. John H. McConnell founded the company in 1955. An established leader with more than 1.000 customers. Worthington steel served a broad range of markets, including automotive, lawn and garden, construction, hard were, furniture, and office equipment, electric control, leisure and recreation, appliances and farm implement. The company offered the widest range of services in the industry, from slitting and blanking to hydrogen annealing, hot dipped galvanizing and nickel plating. The founder developed a the company's values through Worthington industries' Philosophy as follows: Earnings Our golden rule People Customer Supplier Organization Communication Citizenship At the core ofof these values is the golden rule : treat others the way one wanted to be treated. The Administrative systems of Worthington company are considered under the following sections : values, organization structure, human resources polities and reward systems. Question Evaluate the management system at Worthington industries from the standpoint of how they help the company to outperform its competitors. ANALYSIS The Worthington steel company have four key success factors and have Worthington industries' Philosophy......

Words: 282 - Pages: 2

Industry

...CONSTRUCTION INDUSTRY Definition: Construction in general is the process of building or assembling of architecture. The construction sector is responsible for building new houses, apartments, factories, offices and schools. It also builds roads, bridges, ports, railroads, sewers and tunnels, among many other things. In addition, it maintains and repairs all of those structures and produces the basic materials such as concrete that are used to make them. The industry’s significance is due not only to the fact that it provides the buildings and infrastructure on which virtually every other sector depends, but to the fact that it is such a sizeable sector in its own right. The construction industry is Europe’s largest industrial employer, accounting for about seven percent of total employment, and in the Europe, the US and Japan combined, it employs more than 40 million people. Among all Organization for Economic Co-operation and Development (OECD) countries, the construction industry accounts for an average of 6.47 percent of GDP. History since Industrial Revolution: There were many factors that revolutionized the construction industry after the industrial revolution. The invention of Portland cement, glass, reinforced concrete, architectural glasses, cranes etc. has brought in a huge leap in the technology. Cement: Portland cement was developed from natural cements made in Britain in the early part of the nineteenth century, and its name is derived......

Words: 2591 - Pages: 11

Industry

...The Indian cement industry is the 2nd largest market after China. It had a total capacity of about 300 m tons (MT) as of financial year ended 2010-11. Consolidation has taken place with the top three players alone controlling almost 35% of the capacity. However, the balance capacity still remains quite fragmented. Despite the fact that the Indian cement industry has grown at a commendable rate in the last decade, registering a growth of nearly 9% to 10%, the per capita consumption still remains substantially poor when compared with the world average. While China registered the highest per capita cement consumption in 2010 of about 1,380 kg, India stood much lower at 230 kg. This underlines the tremendous scope for growth in the Indian cement industry in the long term. Cement, being a bulk commodity, is a freight intensive industry and transporting it over long distances can prove to be uneconomical. This has resulted in cement being largely a regional play with the industry divided into five main regions viz. north, south, west, east and the central region. With capacity addition taking place at a faster rate as compared to demand, prices have remained southbound, especially in the last one year. Nevertheless, considering the government’s thrust on infrastructure, long-term demand remains intact.  Given the high potential for growth, quite a few foreign transnational companies have displayed their interest in the Indian markets. Already, while companies like Lafarge,......

Words: 932 - Pages: 4