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Str 581 Strategic Plan Part 3 Paper

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Str 581 Strategic Plan Part 3 Paper
Strategic Plan, Part 3 Paper
Dannielle Dunagan
STR/581
July 18, 2016
Fred Greifenstein

Introduction In this paper I will be looking at the generic strategies, value disciplines, grand strategies and global strategies of Worthington Industries, Inc. I will identify the best generic, grand, and global strategies and the best value disciplines for my recommendations. I will also recommend a strategy and / or strategies that Worthington Industries, Inc. should implement and include a rationale for these recommendations. First lets take a quick over view of Worthington Industries, Inc. This company established in 1955 is a diversified metal manufacturing company, which operates in America, Europe and Asia markets. Its headquarters are in …show more content…
(Mind Tools, 2016). Then focus which offers a specialized service in a niche market. (Mind Tools, 2016). Then he subdivides the focus strategy into two parts: Cost Focus and Differentiation. For Worthington Industries, I would recommend the differentiation strategy. The differentiation strategy consists of making the goods or amenities dissimilar from the competitions. Worthington Industries currently does a bit of this by venturing into nearly any market that has steel involved in it. Most steel companies seem to focus on one particular entity in their market, for example automotive industry. Providing just automotive steel parts really limits you to one industry. Worthington Industries differentiates by providing materials for builders, automotive industries, individuals with special requests, dive equipment, etc. I really haven’t been able to locate an industry that Worthington Industries hasn’t tapped into or is a co partner in. They are also a global entity so they have branched off from domestic, which is certainly a differentiation between them and some of their
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