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STEEPLE ANALYSIS OF IRON AND STEEL INDUSTRY

NAME: VIJESH.A.KHANDOR FMBA-WE, NMIMS

STEEPLE ANALYSIS OF IRON AND STEEL INDUSTRY

Social Factor: 1) Changes in social trends (income distribution) can impact on the demand
for products and the availability and willingness of individuals to work. 2) Attitude to work.

Technological Factor: 1) New technologies create new products and new processes. 2) Installation of power supply plants at major production centers has lead to increase in production and meet the demand. 3) Infrastructural Growth in the country helps more consumption of steel. Thus, helping the industry to grow. 3) Mobile phones have played a major role, as through this, work can be done easily and faster. 4) Computers, software have helped the company to design the products as per there suitability and help them 2 maintain the records of the firm and carry out quick and easy procedures.

Economic Factor: 1) Higher interest rates may deter investment because it costs more to borrow 2) Inflation has provoked higher wage demands from employees and raise costs 3) Fluctuation in prices of steel (metal) has caused slow growth of the industry. 4) Recession has been playing its role, as the demand for raw material has gone down due to export orders.

Environmental Factor: 1 Transportation - transport of goods from one place to another causes pollution which leads to global warming. 2) Due to climatic change- in rainy season the consumption of steel used for construction reduces as it becomes difficult for the workforce to construct.

Political Factor: 1) Change in central excise duty, change in value added tax. 2) Change in central sales tax (cst), has benefited in domestic trade.

Legal Factor : 1)Health and safety-this should be aimed at ensuring the workplace is as safe as is reasonably practical. It covers issues such as training, reporting accidents and the appropriate provision of safety equipment. 2) Employment law- Working hours of the worker and minimum wage paid. 3) Consumer laws; this is designed to protect customers against unfair trade practices.

Ethical : Our employment/government policies and practices are continuously being updated so we ensure that we do all that we can to improve fairness and dignity in the workplace.