The Renaissance of American Steel
IN THIS SUMMARY
Just a few years ago, the American steel industry was used as the archetypal example of failure in the face of foreign competition. In fact, the collapse of the industry was so dramatic that it was seen as symptomatic of the general failure of the entire American economic system. Rumors about the death of Big Steel were, however, greatly exaggerated, for today, the industry once again stands as a world-class competitor. U.S. firms produce quality products in efficient plants, and these plants are highly profitable. The Renaissance of American Steel is about succeeding in an industry that is experiencing strong competition and rapid technological change. And it sprang from the premise that in order to discover what it takes to be competitive in a global economy, and to know what management practices actually work, it is necessary to examine an industry where restructuring has succeeded and succeeded well.