Keywords: global iron ore industry, start ups, firm growth, lowest cost leadership, stakeholder management, strategic leadership, key stakeholders
Fortescue Metals Group Ltd - becoming the lowest cost leader through managing key stakeholders
This article considers how Fortescue Metals Group (FMG) had strategically positioned itself in the global iron ore industry through building a lowest cost leadership strategy as well as targeting the Chinese market. Critical to its success had been the effective management of a variety of key stakeholders. This article focuses upon three key periods of FMG's development: a) the construction period (July 2005–June 2007); b) the production period (July 2007–June 2009); c) the growth period (July 2009–present). The growth of the company under its charismatic leader Andrew 'Twiggy' Forrest is also considered.