The problems Nucor faces are manifold. First, Nucor should worry about how to compete in the domestic and global markets in the steel industry. Additionally, Nucor also has a basically weak managerial hierarchy and human resources system, and it is flawed for multiple reasons-which will be discussed further at length in the "Worry List" section. Although Nucor has a four-fold strategy that is designed to implement growth, this strategy, too, is riddled with dilemmas all unique unto itself (new acquisitions, new plant construction, continued plant upgrades and cost reduction efforts, and joint ventures). Nucor must address policy issues within its operations and whether they are expedient to uphold, or whether new policies should be instituted to foster a more conscientious and people-driven company than it already is. The workforce compensation practices seem to be excessive, which will be explained in-depth in the "Worry List." Finally, common-sense issues, like pricing and markeing, and the actual production logistics of how steel is made, are obviously factors that must be seriously evaluated if Nucor is expected to remain not only a vital competitor but a leader in the steel industry in the U.S. and abroad.
In order to continue...
issues, like pricing and markeing, and the actual production logistics of how steel is made, are obviously factors that must be seriously evaluated if Nucor is expected to remain not only a vital competitor but a leader in the steel industry in the U.S. and abroad.
In order to continue being a superior organization, Nucor must as a company reevaluate its primary focus and then set its goals according to the following suggested solutions. First, regarding competition, Nucor must seriously decide where it wants to be in relation to other steel companies and take action to corner the global market on the need for exported steel, an look into supporting measures that would strengthen Nucor having an edge on the industry-a competitive advantage if you will-by making sure that U.S. and international law encourages and protects free trade, which stands to benefit Nucor Corporation. In order to be domestically competitive, Nucor should consider adjusting some of its underlying policies related to management, human resources, and compensation in order to stay abreast of the changing times. One problematic aspect about Nucor which must be altered is its seemingly laissez-faire approach to management which affects the two other aspects of the company (human resources and compensation). Additionally, the delicate dance of new acquisitions by the company has prospects, but there are also other entities to consider. Is the company culture and hierarchy being set forth in new acquistions manageable, and reasonable If not, this must be tweaked also. Further, the liabilities involved in new acquistitions as well as the construction of new plants and their impending operations and workforce must be evaluated. Although this company compensates its employees well for the no