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Steel CityEntrepreneurship, Strategy, and Technology in Sheffield 1743-1993$
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Geoffrey Tweedale

Print publication date: 1995

Print ISBN-13: 9780198288664

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198288664.001.0001

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Factor Creation in Special Steels

Factor Creation in Special Steels

Chapter:
(p.61) 2 Factor Creation in Special Steels
Source:
Steel City
Author(s):

Geoffrey Tweedale

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198288664.003.0022

The crucible steel and tool trades in Sheffield reached a boom during the 1850s. The monopoly that Sheffield had on steel technology, along with how its cutlery industry dominated and the expansions of markets overseas, initiated a decade of increased demand and various opportunities. However, it is important to note that economic competition is dynamic, and that innovation and improvements in technology are found to be continuous processes. When firms are endowed with the initial advantage, they have to come up with sufficient measures that would allow them to stay ahead and continue to improve. This chapter attempts to look into how Sheffield responded to the challenges posed by the introduction of steelmaking technologies and how the industries were able to adopt the new technologies in special steels.

Keywords:   crucible steel trade, tool trade, steel technology, innovation, new technologies, special steels

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