Perception of the Steel Industry

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Results of a survey run in March 2007 on general perceptions of the steel industry

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Perception of the Steel Industry

  1. 1. Steel Survey Spot Review of Common Perceptions of the Steel Industry 1
  2. 2. • Methodology – Online survey run from 12-23 March 2007 – 120 university educated/professional individuals – 15 nationalities from private and public sector – Response rate: 70/120 (58%) – Balance of qualitative & quantitative responses • Top Line Summary – A ‘dirty’, ‘old’ industry in transition currently marked by major consolidation – A sector that is generally viewed negatively in terms of its environment, labour and government track record – Clear opportunity to educate the public on its benefits, its corporate and environmental responsibility and its contribution to economic and social life 2
  3. 3. Associations with Steel Products 1. Strength 2. Cars 3. Construction Associations with Steel Industry 1. Dirty, heavy, polluting 2. Old style industry beset with labour issues 3. Linked to specific countries and companies 4. Financially strong / weak, protected, corrupt… 3
  4. 4. Recognised Companies (unprompted) 1. Mittal / Arcelor 2. Corus 3. Tata 4. British Steel 5. US Steel 6. ThyssenKrupp 7. Nippon Steel 4
  5. 5. Perception of the Steel Industry An industry that is not well understood An industry that pollutes the planet An industry of the past An industry in transition An industry in decline An industry of the future 5 0 5 10 15 20 25 30 35
  6. 6. Attitude towards the Steel Industry 7 I have no idea 23 Indifference 33 More negative than positive 5 More positive than negative 6 0 5 10 15 20 25 30 35
  7. 7. Public View of the Steel Industry A sector that is undervalued by the 3 financial community A last bastion of old-style 19 manufacturing A predictable sector where nothing 8 really new happens A driving force behind the 15 economies of Asia A commodity business that adds no 3 real value A sector that is rapidly 44 consolidating into a few big players A major employer in many countries 15 A dirty and unsafe sector 18 A major contributor to climate 17 change An old-fashioned industry 48 A hot bed of innovation 0 7 0 10 20 30 40 50 60
  8. 8. Read anything recently about steel? No 39% Yes 61% If so, what? Safety issues India China Job cuts 8 Consolidation 0 5 10 15 20 25 30 35 40
  9. 9. How Interesting is the Steel Industry? 30 25 20 15 10 5 0 1. Dull as 2. I am aware of 3. It is about as 4. It is an 5. I cannot think ditchwater it but not interesting as interesting of a more exciting interested copper industry going industry to be 9 aluminium and through immense involved in plastics change
  10. 10. Most Objective Media Covering the Sector www.eurofer.org www.steelworld.com www.worldsteel.org Asian Times Not objective Some doubts Business Week Adequate Quite reliable Very reliable Newsweek The Economist Wall Street Journal Financial Times 10 0% 20% 40% 60% 80% 100%
  11. 11. Suggested Ways of Improving the Image • A greater focus on communications, especially PR • Driving a clear connection between the industry and consumer benefits – exciting design, presence in everyday life, recyclability etc • An integrated stakeholder approach demonstrating the industry’s implementation of real, tangible corporate social responsibility • Demonstrate how the industry continues to contribute to economic growth, jobs, stability, innovation & environmental sustainability, as well as other connected industries 11
  12. 12. Suggested Ways of Improving the Image • Promote awareness of the role of steel production in driving best practice in environmental responsibility through greater transparency, investment in cleaner technologies and support for worthy causes • Demonstrate how the steel industry leads to the development of iconic products, as well as a better future • Explain the balance of production and consumption across Asia and Western markets to demonstrate a responsible approach to the environment, labour rights and the local communities 12

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