Why Nucor Is Made Up Of More Than The Most Profitable Steel

Nucor takes a simple approach to succeeding in the industry of steel. At its mini mills, Nucor produces hot- and cold-rolled steel, steel joists, and metal buildings. It has the capability to produce more than 26 million tons of steel a year. Being one of North America’s largest recycler of scrap metal, it produces steel by melting scrap in electric arc furnaces. Most products are sold to steel service centers, manufactures, and fabricators. Subsidiary Harris Steel fabricates rebar for highways and bridges and other construction projects. Its David J. Joseph Company unit processes and broken metals, pig iron, hot briquetted iron, and direct reduced iron. In 2014 Nucor recycled 19 million tons of scrap steel. Their mission is as follows:†¦show more content†¦Bargaining power of buyers is increased and bargaining power of suppliers is increased. Increased supplier bargaining power leads to increased prices of suppliers. The threat of new entrants is lowered in the industry environment. The have attained great success in cost control by using business process automation to automate processes in order to contain costs. More keys to their success are organizational behavior, technology and processes in order fulfillment, distribution and production, and carefully chosen as joint ventures. Nucor is an industry leader in innovation and minimization of pollution and production cost. They have a calculated risk taking culture, lean management, standard and poor mentioned that Nucor is the only company which is indisputably healthy. They have more bargaining power and larger contracts. On the other hand, they have a high dependence on the US domestic market and limited diversification and no worldwide presence. They could enter the Asia-Europe market through joint ventures. They could use horizontal integrations or acquisitions to improve market position and vertical integration with the nuclear plants to enable the low- cost energy to produce steel products. They should watch out for rising raw material and labor cost, threats from Chinese and other foreign players entering US markets and the demand declining in US real estate post sub-prime crisis. The driving forces that are present areShow MoreRelatedAnalysis Of Nucors The On The Industry Of Steel1556 Words   |  7 PagesNucor takes a simple approach to succeeding in the industry of steel. At its mini mills, Nucor produces hot- and cold-rolled steel, steel joists, and metal buildings. It has the capability to produce more than 26 million tons of steel a year. Being one of North America’s largest recycler of scrap metal, it produces steel by melting scrap in electric arc furnaces. Most products are sold to steel service centers, manufactures, and fabricators. Subsidiary Harris Steel fabricates rebar for highways andRead MoreNucor Case Study Essay1320 Words   |  6 PagesNUCOR (25 Points) 1. List and elaborate some strategic issues facing NUCOR? Nucor has been facing many industry challenges including the overall development of the industry. They are competing with foreign firms on cost and efficiency. Nucor has a low cost strategy because as they say their product is not necessarily very attractive. It does not have attractive or unique selling features other than its cost. The commodity of steel is in a very competitive market. Nucor understands that innovationRead MoreNucor Case Analysis4059 Words   |  17 Pages Nucor Steel Corporation Written by: Lukas Kubilius Professors: Bonnie J. Straight Julian J. Prewitt Lithuania Christian College 2 March 2005 Overview of situation Nucor Corporation with 24 plants/divisions and 8,000 employees, operated in nine states recycling more than 10 million tons of scrap steel annually. Producing carboy and alloy steel in bars, beams, sheet, and plate; steel joists and joist girders; steel deck; cold finishedRead MoreEssay on Usx Case Study1536 Words   |  7 Pages660 Operations, Logistics, And Production Dr. Frederick Chen Grace, T., Hoffman, V., Jafuneh, E., Nieto, C. 2/238/15 USX Case Study Should Kappmeyer sign the proposal and why? Our recommendation after reviewing the case study and gaining a basic understanding of disruptive technologies and how they impact the steel industry is that Kappmeyer should not sign the proposal. The reason we feel USS should not sign the proposal is because by doing so they would be associating themselves with a businessRead MoreNucor Case Analysis4046 Words   |  17 Pages Nucor Steel Corporation Written by: Lukas Kubilius Professors: Bonnie J. Straight Julian J. Prewitt Lithuania Christian College 2 March 2005 Overview of situation Nucor Corporation with 24 plants/divisions and 8,000 employees, operated in nine states recycling more than 10 million tons of scrap steel annually. Producing carboy and alloy steel in bars, beams, sheet, and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners;Read MoreNucor Steel : Competitive Analysis9367 Words   |  38 PagesReview of Nucor Corporation’s current findings, analysis of internal strengths and weaknesses, as well as a comparative analysis at the industrial level of the steel industry, the following includes a summary of findings and recommendations for Nucor Steel Corporation: †¢ We recommend to have an on staff legal team The steel industry has a very hazardous work environment, which in return arises many cases of workman’s compensation issues. An on staff legal team at Nucor allows a more adept knowledgeRead MoreNucor8605 Words   |  35 PagesSUMMARY B. Nucor (NUE) was ranked the first of steel producer in the U.S., and the first â€Å"mini-mill† operator, with operating facilities in 14 states. Nucor’s products include sheet steel, bar, structural, plate and others. The company was known for its aggressive pursuit of innovation and technical excellence, rigorous quality system, environmentally friendly products. Nucor’s core strategy is that of cost leadership through the use of technology; it is known as being the low-cost provider. Most businessRead MoreNucor Corporation4479 Words   |  18 Pagesdiscuss in class the case study: â€Å"Nucor Corporation: Competing Against Low-Cost Imports† Case on page C-193. Use the following questions to perform your case study. â€Å"Nucor Corporation: Competing Against Low-Cost Steel Imports† case 10 page C-193 case study Assignment Questions: 1. What are the primary competitive forces impacting U.S. steel producers in general and the producers like Nucor that make new steel products via recycling scrap steel in particular? Please do a five-forcesRead MoreNucor Corporation4689 Words   |  19 PagesNUCOR COrp. | Final Report | Submitted to Dr. Vitton | | Nick Pickard, Kyle Nelson, Nathan Elness – Team 6 | 11/27/2012 | Completed as a partial requirement for Mgmt 475: Strategic Management in the 11:00 AM Section. | Table of Contents: Introduction. 2 Industry Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..........................3 Marketing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..6 Production/Operations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 Read MoreNucor - the Art of Motivation7646 Words   |  31 PagesINTERNATIONAL BUSINESS SCHOOL UNIVERSITI TEKNOLOGI MALAYSIA CITY CAMPUS, KUALA LUMPUR HUMAN RESOURCE MANAGEMENT GROUP ASSIGNMENT Case 3: The Art of Motivation NUCOR LECTURER: ASSOC. PROFESSOR DR ROSMINI OMAR |CHAN LI WUEN |MR 091104 | |rashidah yusof khan