Type of Strategy Nucor Corporation Follows

Nucor Corporation
Student’s Name
Institutional Affiliations
Nucor Corporation
1. What driving forces do you see at work in this industry? Are they likely to impact the industry’s competitive structure favorably or unfavorably?
Fierce competition drives the steel industry; this is because rivalry in the steel industry revolves heavily around prices of steel products. Most steel producers produce the same or similar looking metallic products, of the same quality and structure. This is not favorable to any producer since it makes it hard for any steel producer to stand out, therefore making steel producers to instead attract buyers by offering better affordable prices than their competitors. In such a market, buyers can easily change suppliers if the prices are more affordable with a different supplier. This makes competition extremely stiff since market prices for steel products bounce around every week if not daily.
2. What type of strategy has Nucor followed? Is there any reason to believe that Nucor has achieved a sustainable competitive advantage over many of its steel industry rivals in North...