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BUSN 310 Company Strategy and Business Comparison
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In the year 1899, AK Steel Holding Corporation’s predecessor, Armco, was established in Middletown, state of Ohio, as a steel company(“AK Steel,” n.d.). In the mid-2007, the corporate headquarter of the business was relocated from Middletown to West Chester in the same state. AK Steel’s chief products include electrical and stainless steel, carbon, aluminum coated and cold rolled steel for automakers. Some of the well-known products from this company include the installed crash barriers at central reservations, by the roadsides, and around some of the auto-racing tracks (“AK Steel,” n.d.). In some countries, such as the United Kingdom, the barriers are frequently referred to as the Armco barriers. Another common product from this company is the Armco culverts. These are bent, grooved steel panels that are often bolted together so as to make culverts. However, despite their high success in the running of the business, the company is faced with strict regulations set up by the government that must be adhered to. Some of these regulations act as a hindrance for the company in their aim to ensure that maximum profits are realized (Kew, 2005). The United States government has established numerous business rules to ensure that it is not only the employee’s rights are safeguarded, but also the environment. For this reason, the operations of AK Steel Company is said to be influenced by both the domestic and the global business environment. The domestic business environment refers to the particular country’s environment where the business is in operation. On the other hand, the global business environment refers to all the factors that are outside the company’s country of operation (Tayeb, 2011). These factors may include; the business policies, the style of governance, tradition culture, business rules and regulations, and economic systems among others. This paper focuses on how AK steel’s both domestic and global environments affect the manner in which it carries
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COMPANY STRATEGY AND BUSINESS COMPARISON 3 out its operations. Also, the paper looks at how the political barriers, soft and hard technology, and the sociocultural factors affect the domestic and global environments of the business. Businesses are influenced by a combination of cultural, legal, and economic factors within a domestic environment (Kew, 2005). However, these factors are unique to the business environment of a given country. Businesses are rarely able to control these factors. Nonetheless, they can devise a mechanism that will enable them to respond to these issues appropriately. AK Steel is among the many companies that must adhere to the regulations set up by the U.S government in a bid to control the business practices. To begin with, one of the primary legal rules set up involves employment laws. These law
BUSN 310 Company Strategy and Business Comparison
