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Lesson 5 Assignment 2

Lesson 5 Assignment 2 - Ashley B Hilliard July 5 2010 MG...

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Ashley B. Hilliard 258-10-0169 July 5, 2010-October 22, 2010 MG 665 Lesson#5, Assignment 2 Develop an action plan (1000-1200 words) for The Timken Company's 1986 employee communication program using the following Plan of Action formula: The Timken Company is the world's largest manufacturer of tapered roller bearings. A tapered roller bearing consists of a set of rolling elements between two concentric rings. The design of these bearings, based on Henry Timken's patents from the late 19th century, allows them to virtually eliminate friction created in hauling heavy loads. Timken bearings are used by a wide variety of companies, including those in the automotive and railroad industries. They range in size from the tiny bearings used in disk drives to the nine-ton mother of all bearings custom made for a heavy forge. Bearings might not seem like the most progressive of industries, yet Timken has maintained a leading 30 percent market share by aggressively investing in state-of-the-art manufacturing facilities. Timken also produces millions of tons of steel alloy each year through its Latrobe Steel unit. The company's stock is one-third owned by the Timken family and employees. As the 1980s began, Timken was still the dominant force in the American bearing industry, controlling about 25 percent of the U.S. bearings market, and 75 percent of the market for tapered roller bearings. In 1981 the company earned $101 million on sales of $1.4 billion. The 1980s proved to be a difficult decade for Timken, however. The company reported a loss of $3 million in 1982, its first unprofitable year since the Depression. Part of the problem was the flood of cheap bearings entering the United States from Europe and Japan. Nevertheless, Timken did
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