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Nucor Competitive Strategy
Pages 11 (2761 words)
Nucor Corporation is a steel production company that, in the past, has had tremendous success. "At the end of 2006, Nucor was solely entrenched as the second largest steel producer in North America based on total production [and] was the most profitable steel producer in North America in both 2005 and 2006." (C-113).
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.
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