Nucor Corporation Steel Industry Trends Case Study

Pages: 3 (809 words)  ·  Bibliography Sources: 0  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business - Management

Nucor Corporation

Steel Industry Trends

The steel industry has experienced a series of changes in the past decades on global level. The most rapid changes have been reported by China, which is currently an important producer and consumer in the steel industry, and by India, which presents similar characteristics as a market in this industry. Europe has also established itself as a stable market.

The global economic growth has attracted a growth of the steel industry sector also. Although the U.S. have led the production capacity during most of the 20th century, the situation changed after the industrial revolution in Asia, which is now considered the leading region in the steel production industry, followed by Europe, and by North America.

Given the market circumstances, it is becoming more difficult for companies like Nucor to maintain their position on the market. With less attention granted to this industry in the U.S., and with less involvement from the government, such companies experience lower revenue levels, which determine them to change their strategies.

In the case of Nucor, the most suitable strategy for the company's situation is probably represented by the acquisition of steel companies in developing regions, like China and India. The growth potential of such markets can be successfully exploited by Nucor.

Organizational Structure and Management Philosophy

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The Organizational Structure of Nucor is a simple, streamlined, and flexible one. The reason behind implementing such an organizational structure relies on the fact that Nucor wants to encourage innovation among the company's employees, and to create a suitable environment for a quick decision-making process.

In addition to this, the structure of the company is decentralized. The decisions regarding daily operations are made by division managers and plant general managers and their subordinating staff. The company's plants are organized as profit centers. The management levels of each plant are represented by the general manager, department manager, supervisor/professional, and hourly employees.

Case Study on Nucor Corporation Steel Industry Trends the Steel Assignment

Although these plants operate as independent profit centers, they must meet the financial and sales general objectives established by the central management of the company. If these objectives are met, the central management team does not interfere in the decision-making process or the functioning of each of these plants. However, in case these objectives are not reached, plant managers that have constant problems in this area, are likely to be replaced.

Also, the central management of the company encourages competition between these plants, in order to increase their… [END OF PREVIEW] . . . READ MORE

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"Nucor Corporation Steel Industry Trends."  Essaytown.com.  June 13, 2010.  Accessed October 29, 2020.
https://www.essaytown.com/subjects/paper/nucor-corporation-steel-industry-trends/519748.