Nucor

Business Summary and Strategy Nucor is the largest steel manufacturer in the united States. It remains a profitable confederacy despite cosmos in one of the most cyclical industries in the economy. Nucor enjoys this achievement for several reasons, employee relations, quality, productivity, and aggressive pursuit of aim and technical excellence. Nucor¡¦s strategy is that of a wiped out(p) cost provider, they know they ar selling a commodity and understand their competitive brim in the assiduity is lowering prices through innovation and productivity. The company operates primarily in two business areas, steel mill about and steel products. Steel Industry Outlook Driving Forces: ?« internationalization ¡V Low cost foreign manufacturers ¡§dump¡¨ steel in the U.S. and other markets. ?«Changes in the economy ?«Changes in currency valuations ?« comment/raw material prices Key Success Factors: ?«Technological innovation ¡V such as the strip casting technology, commit in technology such as this allows Nucor to take cypher risks to ultimately lower their cost to produce steel subsequently raising margins. They now own the U.S. and Brazil rights to this technology. ?«Employee relations ¡V Nucor employees are more productive, loyal and Nucor has lower employee cost than competitors.

?«Global Economic growth ¡V if global and U.S. growth continue, Nucor entrust continue growth. ?«Product Quality ¡V Nucor has a paper for quality products. ?«Market Share ¡V gain market share, squeeze out competition by being low cost provider. Once competitors are limited, then margins can be increased. Porter¡¦s Five Forces: ?«Competition ¡V as stated earlier, competition is fierce and foreign competitors are dumping steel. ?«Barriers to entry ¡V are typically high, it requires a very(prenominal) large amount of money and expertise to enter the industry. The industry is consolidating not growing. ?«Substitute products ¡V plastics and other components have interpreted market share... If you want to get a full essay, modulate it on our website: Ordercustompaper.com

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