With its corporate mission in place, a corporate value system was established and published in 1988 as the Seven Corporate Values (refer to Appendix U: NSC Corporate Philosophy). Armed with a “sense of being” and collective corporate values, NSC completed in the same year the construction and implementation of Phase I expansion program, shown in Table 4 below, and has focused on becoming a major supplier of flat steel products in the country.
Table 4: NSC’s Annual Rated Capacity (‘000MT)
(Data: NSC))
In 1989, NSC adopted a corporate slogan: “We’re building a country,” premised on the eventual integration of the local industry and the industrialization of the country (NSC News, October 1992) . The technical and technological preparations required of making this dream then a reality were already being attended.
Corollary to that, NSC adopted four (4) guiding principles in its expansion and modernization program, and these are capability optimization of existing facilities, acquisition then upgrading of idle domestic facilities, acquisition then retrofitting of foreign second-hand facilities, and reliance on internal cash generation and corporate profit reinvestment (NSC, 1994) .
On the Human Resources aspect, with the belief that people are its most important asset, NSC’s competitive hiring rates were much coveted that its turnover rate of 1.5% in 1990s was probably the lowest in Philippines industry (NSC News, August 1992) .
Notes:
NSC News (1992), National Steel Corporation: “Building a Country Together,” Eighteen Years of a Most Meaningful Commitment. NSC News Supplement. Makati: Corporate Communications, NSC, 23 October 1992. back to text
National Steel Corporation, Annual Report. Iligan City: NSC, various years (1980-1994). Cited as NSC and Annual Report Year. back to text
Santos, Bayani Jr. (ed.) (1992), Steel isn’t just for things; It’s for people. NSC News, XVII: 8, Makati: Corporate Communications, NSC, 31 August 1992. pp. 8-15. back to text
