Nucor Corporation: A Steel Manufacturing Company Case

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Nucor case study
Introduction
Nucor Corporation is a steel manufacturing company, which was ranked as the 11th largest steel company, in the world based on tones shipped in 2011. The company has a sterling reputation, of introducing effective steel making technologies throughout its operations. Nucor began its journey to prominence, in the 1950s as Nuclear Corporation of America. After suffering from many years of money laundering, F. Kenneth Iverson was appointed as the new CEO. He immediately decided to rebuild the company around steel joist business. Effective strategies were put in place, and up to date the company is a strong force in the global market. This case study, seeks to analyze how Nucor Corporation rose to prominence, and the adoptive measures it adopted during challenging times.
Both the past and current management of Nucor have proven to be effective in their dealings. The management structure of the company was simple, but well organized to deal with any challenge. Simplicity in management enables effective communication and easy accessibility of information, within the organization (Gamble & Thompson, 2014). The company recognized employees as the core unit of the organization. The company had a compensation package system that rewarded goal oriented individuals, and cared less about the maximum employee earning. This ensured employees worked to their optimum point.
The profits of Nucor Corporation increased progressively as times changed. An analysis indicates the high profits were obtained due to their superior marketing strategy and large volume of sales. Sales people were located at every Nucor production facility, to facilitate quick access of steel products by customers. The volume of sales raised rapidly...