The Research On Flexible Strategy Of TISCO In The Context Of Financial Crisis

Manufacturing industry is the material basis of our national economy and industrialization of the industry is the main body of social progress and enriching the people is playing a very important role in economic development. Subprime mortgage crisis of America evolved into a global financial crisis in 2008, as the crisis deepened, its impact on virtual economic had been gradually transferred to on the real economy, began to spread to global manufacturing. By the weak R&D capability, extensive management, appreciation of RMB, rising prices of raw material and labor costs such other factors, manufacturing industry of China is facing severe challenges and pressures.Especially for steel enterprises, the domestic steel market influenced by the international financial crisis has experienced unprecedented huge fluctuations, the steel price wave amplitude has surpassed 50%.In the first half of 2008, iron ore prices rose sharply and pushed up the cost of steel, it seriously squeezed the profit margins of steel companies, while because of the sharp contraction of demand in the second half, steel prices continued to fall sharply, combined with the deterioration of the export situation made the losses of steel business. As a leading enterprise in Shanxi Province, TISCO is a large iron and steel enterprises as one set of mine iron mining, steel production, processing, distribution and trade, and also is the largest capacity, highest level of technology and equipment, the most complete varieties and specifications of stainless steel enterprise of the world; its production and operation have also been greatly influenced-by the financial crisis.This paper first has the summarized and analyzed related theories of enterprise strategy and flexible strategy, then carried on a brief induction of the impact of the financial crisis Chinese steel industry. On this basis, combined with own situation of TISCO, especially understanding of the problems in production and management, and the strategic situation in the context of the financial crisis, analyzed the problems of its strategic management. In response to these problems, a comprehensive analysis of internal strengths and weaknesses and external opportunities and threats of TISCO in the special circumstances has been carried on in order to determine flexible strategy as its new strategic direction, and put forward concrete measures to implement flexible strategy from cultural flexibility, organizational flexibility, capacity flexibility and resources four aspects.