Cliffs Natural Resources Inc.
International Business (BUS 616)
August 5, 2013
I have done my paper on the company Cliffs Natural Resources Inc. This company operates as an international mining and natural resources company, which engages in exploration and production of iron ore and high and low volatile metallurgical coal. I have included the culture of this organization and their values and norms. The organization has ethics for international dealings, they do foreign direct investments, accounting practices, how they convert currency, international strategies, strategic positioning and lastly their marketing tactics.
I have done my paper on the company Cliffs Natural Resources Inc. This company operates as an international mining and natural resources company, which engages in exploration and production of iron ore and high and low volatile metallurgical coal. I have included the culture of this organization and their values and norms. The organization has ethics for international dealings, they do foreign direct investments, accounting practices, how they convert currency, international strategies, strategic positioning and lastly their marketing tactics. Company Overview
Cliffs Natural Resource Inc. is a larger supplier of iron ore products. North America steel industry, and it’s the largest producer of iron ore pellets in the world. They manage six iron ore mines in Michigan, Minnesota, and Eastern Canada and hold equity interest in five of the mines. It operates an international mining and natural resources, that engages exploration and production—high and low volatile metallurgical coal. The Australian is 80.4 percent Portman (third largest in Australia). This company sells the ore in North America, also Europe and Asia (Reynolds, 2011). It is growing with interest in Asia/Pacific region and also Latin America. The Latin American segment is comprised of Amapa which is in Brazil. The Cliffs Natural Resource was founded in 1847 and is headquartered in Cleveland, Ohio. Culture, Values, and Norms
Culture is the aggregation of beliefs, norms, attitudes, values, assumptions, and ways of doing things that is shared by members of this organization and is taught to new employees. Competitive culture is leadership that encourages and values high competitive work environment. Ethics in International Dealings
International dealings of ethics commitment to the highest standards of business conduct and ethics, integrity, and attendant reporting according to all applicable laws. It is to the company’s directors, officers and employees and it extends agents and representatives that include consultants that are in conducting the company business. Their code of ethics is to protect and enhance the company’s integrity and reputation to maintain the highest degree of honesty in all their business relationships. There are three areas Cliffs Natural Resources use they are: (1) company responsibility to abide by laws that apply to the company’s business; (2) company’s obligation to conduct internal and external business fairly and ethically; and (3) company’s responsibility to interact fairly and respectfully with each other, its customers and suppliers and its host countries. It is the responsibility of all employees to operate the company effectively and ethically in order to produce value for stockholders. A violation of this code is a serious matter. It can cause losing your job or put on disciplinary action. The company conducts business in different countries around the world. They respect the authority of the government in these countries. They maintain honest relationships with government and their officials, personnel and other agencies (Tichy, 1983).
Foreign Direct Investment
This company Cliffs Natural Resources is partners with Amapa in Brazil and Sonoma in Australia respectively. Amapa
References: Cliffs Natural Resources Inc. Launches “together, it starts here” Corporate advertising campaign (2011, May 16) PRNewswire. Retrieved from http://proquestsearch.com
Gedex, Inc and Cliffs Natural Resources exploration Inc. Sign strategic agreement (2010, Dec 06). PRNewswire. Retrieved from http://proquestsearch.com
Hill. (2011) International Business: Competing in a Global Marketplace (8th edition). McGraw-Hill
10-K (2012) Cliffs Natural Resource Inc.
Kilmann, R.H. (1995). A holistic program and critical success factors of corporate transformation, European Management Journal, Volume 13 Number 2, pp 175-186.
Reynolds, Terry (2011). Iron will Cleveland-cliffs and the mining of Iron ore pp. 1847-2006. Wayne State University Press
Tichy, N H (1983). Managing Strategic change technical political and cultural dynamics, New York: Wiley
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