Price Steel Sector

Though the difference between price policy, product policy and costing techniques is evident, they are all interwoven by the fluctuations in the economy in which they operate (Schafter and Roper, 1985). While in most cases, pricing decisions remain short term, product and investment policies tend to be long term decisions. But in most firms the information systems are designed to analyze data and infer for short term goals rather paying attention to the long term objectives of the firm. Due to this over dependence on short term effects, which are more often a response to the market competition and firm’s position, it becomes too late to recognize the hindrance that is imposed in achieving the long term objectives. In any competitive setup (including steel sector) the companies which have concentrated simultaneously on their short, medium and long term goals have proven to be more successful than their competitors who just merely reacted for short term gains.

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