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The Trends in the Steel Industry and How It May Impact Nucor Corporations Strategy - Case Study Example

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"The Trends in the Steel Industry and How It May Impact Nucor Corporation’s Strategy" paper gives readers an insight into strategies Nucor Corporation used and some recommended lines of action for the future. The paper also describes organizational structure and management philosophy at Nucor.  …
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The Trends in the Steel Industry and How It May Impact Nucor Corporations Strategy
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Download file to see previous pages The whole organization at Nucor’s revolves around the laid principles and focus on reinforcing to the extent that the organization is known for its culture and quality. Simultaneous quality checks and adherence are also as important building a strong culture for the organizations.

Nucor Corporation has always tried to challenge itself for further progress and to keep abreast of the industry of steel business.

Let us look at the trends observed in the business of the steel industry. The trend in the steel industry is very dynamic and always impacted by internal and extraneous factors. For almost 50 years the United States of America reigned in the industry of steel production, almost half of the entire population requirement of steel fulfilled by the United States of America. Then the hegemony of the United States of America was challenged by countries like Japan and China. In recent years, India and Brazil have also increased the pace of total steel production. However, the United States of America is no longer the biggest producer of steel despite being dominant in the industry for half the century. China replaced the United States of America's position and became the first in the production of steel. However, in the United States of America Nucor Corporation has been relatively steady in maintaining its position if not in the entire world in steel production. Nucor Corporation as of today is the largest steel producer in the United States of America. Global Economic recession of the 1990s observed after September 11, 2001, terrorist attacks had a hugely adverse effect on the United States of America’s steel industry. The main steel-clients such as construction, automobiles, and farm equipment were observing a limbo period. Imported steel producers found a short cut way to fight with the global steel surplus. Subsidized by their governments they were replacing the United States of America’s market at competitive prices. ...Download file to see next pagesRead More
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