Great Lakes Essay

1267 WordsAug 19, 20136 Pages
GREAT LAKES: GREAT DECISIONS 2 Abstract Great Lakes Chemical Corporation was faced with an environmental nightmare. It was producing one of the most harmful chemicals known to mankind. Though, lead was illegal in developed nations such as the United States, lead additives were legal in developing countries. Knowing the harmful effects of lead, Great Lakes has to decide if it will, continue to produce lead until developing nations move from lead to unleaded machinery and automobiles, immediately discontinue making lead additives, or make an all out effort to discontinue making lead within 5 years while pressuring undeveloped countries to switch from leaded to unleaded machines and automobiles. Great Lakes felt an immediate halt would adversely affect those country’s economic growth. With lead production accounting for 59 percent of Great Lakes’ operating profit, its management knew that any decision it made would greatly effect its profits, shareholder’s well-being, and its reputation. GREAT LAKES: GREAT DECISIONS 3 In addition to environmental / geographical concerns, Great Lakes would haven to evaluate how its decision would impact the general environment in areas like demographic, economics, technological, and political / legal / governmental. In order for companies to succeed they have to scan, monitor, forecast, assess each one of these external environmental segments. Not only does Great Lakes have to understand the general environmental segments, it has to understand the lead industry in particular. Knowing the five forces model of competition, threat of new entrants, bargaining power of suppliers, bargaining power of

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