Great Lakes: Great Decisions
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- Date Submitted: 04/24/2011 09:32 AM
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Great Lakes: Great Decisions
Business Administration Capstone
April 9, 2011
This paper addresses the company of Great Lakes along with one of its subsidiaries Octel and its’ place in the industry regarding the production of the chemical lead additive tetraethyl lead (TEL). According to a Chemical and Engineering News Journal (2006) article, “Octel was spun out of Great Lakes Chemical in 1997, with a mandate to manage the declining business of making and supplying TEL” (p. 26). In doing research, I found that Octel went through some transformation over the years and according to the Chemical and Engineering News Journal article (2006), Octel changed its name and “is now known as Innospec” (p. 26). Additionally, Great Lakes Solutions formed with another company to create the Chemtura Corporation. As a result, for the purpose of this paper, we will refer to the company as Great Lakes, Octel, and Innospec interchangeably as it relates to research references for this paper, and associated business practices with a focus on the lead fuel additives industry.
Great Lakes – Analysis of General and Industrial Environment Segments
The external factors of the general and industrial environments all have the ability of impacting a company as it seeks strategic competitiveness with the ability to have above average returns while competing in the marketplace. According to Hitt, Ireland, and Hoskisson (2011), “the general environment is composed of dimensions in the broader society that influence and industry and the firms within it” (p. 37). To that end, we look at how general environment factors, which cannot be directly controlled, impact the operations of Great Lakes.
Perform an analysis of the Social/Demographic, Technological, Economic, Environmental/Geographic, and Political/Legal/Governmental segments to understand the general environment facing Great Lakes. Describe how Great Lakes will be affected by each of these external factors....
Business Administration Capstone
April 9, 2011
This paper addresses the company of Great Lakes along with one of its subsidiaries Octel and its’ place in the industry regarding the production of the chemical lead additive tetraethyl lead (TEL). According to a Chemical and Engineering News Journal (2006) article, “Octel was spun out of Great Lakes Chemical in 1997, with a mandate to manage the declining business of making and supplying TEL” (p. 26). In doing research, I found that Octel went through some transformation over the years and according to the Chemical and Engineering News Journal article (2006), Octel changed its name and “is now known as Innospec” (p. 26). Additionally, Great Lakes Solutions formed with another company to create the Chemtura Corporation. As a result, for the purpose of this paper, we will refer to the company as Great Lakes, Octel, and Innospec interchangeably as it relates to research references for this paper, and associated business practices with a focus on the lead fuel additives industry.
Great Lakes – Analysis of General and Industrial Environment Segments
The external factors of the general and industrial environments all have the ability of impacting a company as it seeks strategic competitiveness with the ability to have above average returns while competing in the marketplace. According to Hitt, Ireland, and Hoskisson (2011), “the general environment is composed of dimensions in the broader society that influence and industry and the firms within it” (p. 37). To that end, we look at how general environment factors, which cannot be directly controlled, impact the operations of Great Lakes.
Perform an analysis of the Social/Demographic, Technological, Economic, Environmental/Geographic, and Political/Legal/Governmental segments to understand the general environment facing Great Lakes. Describe how Great Lakes will be affected by each of these external factors....