Dofasco Dofasco, Inc

question 96

Multiple Choice

Dofasco 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?

Recognize the impact of individual assumptions about human nature on management style.

Apply management theories to practical situations and challenges in organizational settings.

Understand the critique and limitations of management by best-sellers.

Recognize the contribution of various thinkers to quality management and process improvement.

Definitions:

Violence

The use of physical force or power, threatened or actual, against oneself, another person, or against a group or community, which either results in or has a high likelihood of resulting in injury, death, psychological harm, maldevelopment, or deprivation.

Successful Aging

A concept involving the attainment of peak physical, psychological, and social well-being and satisfaction in older adulthood, often despite the presence of diseases and physical limitations.

Maximizing

The strategy of seeking the best possible choice among all options, often requiring thorough comparison and consideration of all available alternatives.

Physical Activity

Physical activity encompasses any bodily movement produced by skeletal muscles that requires energy expenditure, including activities undertaken while working, playing, carrying out household chores, traveling, and engaging in recreational pursuits.