Nucor Corporation

Nucor Corporation - Nucor Corporation 1 Running head:...

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Nucor Corporation 1 Running head: CRAFTING AND EXECUTING STRATEGY – Nucor Corporation Nucor Corporation LaKessica B. Carter Dr. Akpan BUS599 - Strategic Management May 25, 2011
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The strategy of Nucor is to achieve cost leadership. It has been able to build steel facilities at low cost and operate them with economy challenges. In addition, it has continuously introduced innovation and has succeeded in producing high-quality steel and steel products at competitive prices. Nucor focus was to remain adaptable during the trend changes. Its ability to execute its strategy is execute this strategy is instrumental in its organizational success. Discuss the trends in the steel industry and how it may impact Nucor’s strategy. The weakness in the global economy contributed to further shortage of demand for the steel industry causing an effect for Nucor. The recovery in the industry depends on how the construction and automotive industry recovers. Its affects contributes to the steel industry situation. According to the Nucor’s perspective, which states “that unless there is recovery in the construction and automotive industry it will be difficult to sustain a revenue growth of 15-20% and maintain corresponding profit levels”. This perspective of the Nucor’s case indicates three problems (foreign competition, labor relations and a slowed domestic demand for steel) in which these industries could possibly face. Each of the three remains problematic. Foreign competition could risks attempts for trade barriers to be placed on import of steel causing it to lead to global repercussions. This could make it harder to be implemented. Secondly, the labor relations (union problems) related to the steel industry could also continue to hold down the industry. Lastly, the slowed domestic demand for steel will pick up only if the construction industry and
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