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British Steel Corporation: probably the biggest turnaround story in UK industrial history
Author(s) -
Pandit Naresh R.
Publication year - 1998
Publication title -
strategic change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.527
H-Index - 16
eISSN - 1099-1697
pISSN - 1086-1718
DOI - 10.1002/(sici)1099-1697(199803/04)7:2<65::aid-jsc357>3.0.co;2-t
Subject(s) - retrenchment , corporation , turnaround time , revenue , business , operations management , finance , economics , political science , public administration
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 profitably pursued. Timing was an important factor affecting the success of the turnaround effort; and, The turnaround was achieved whilst BSC was still publicly owned. © 1998 John Wiley & Sons, Ltd.