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Dofasco, Inc

question 94

Multiple Choice

Dofasco, Inc. is a different kind of steel company. Tiny by industry standards, the Canadian-based company has just 8,500 employees and a market cap of $2.3 billion. Dofasco operates with a close eye on the triple bottom line. In addition to tracking financial metrics, Dofasco also monitors its impact on society and the environment. As a result, the company has outperformed many of its biggest competitors. Despite a recent slump in the automobile industry, which accounted for 50 percent of its business, Dofasco ran at 100 percent capacity and finished as one
of the only integrated steelmakers in all of North America to make a profit one year. Dofasco is also one of the only companies in the steel industry without a union, and its employees like it that way. Employee turnover at the company's main operation is less than one percent annually. Part of its low turnover rate is due to the company's concern about protecting its external environment. As the CEO of the company said, "One way to get happy employees is not to wreck their community in which they live."
-Refer to Dofasco. What technique would Dofasco most likely have used to keep apprised of environmental changes that could impact how the company does business?

Definitions:

George Ritzer

An American sociologist known for his work on consumerism, globalization, and the concept of McDonaldization, which analyzes the effects of capitalism and rationalization on society and culture.

Society

A large group of people sharing a common territory and culture, characterized by shared norms, values, and institutions.

Bureaucracy

An organizational system characterized by standardized procedures, hierarchical division of labor, and emphasis on formal written documentation.

Interpersonal Interactions

The exchanges and communications between people, which can be verbal or non-verbal, and influence relationships and social dynamics.