Nucor as the Most Outstanding Steel Company in the USA - Essay Example

Nucor treats workers with respect and accords them with real power. Leaders trust, talk to and listen to them, take a risk on their ideas, and accept their occasional failures. They do not use the command-and-control model and they ensure the transmission of the company’s culture.

Nucor also has an unusual pay system that shares the corporate wealth with workers (profits and bonuses). Workers’ and managers’ take-home greatly depends on results and pay disparities are modest with executive pay geared toward team-building. There also exists healthy competition in Nucor based on efficiency, safety, and output among shifts and facilities, balanced with a long history of idea-sharing and cooperation. Just as Nucor rewards good work, it also penalizes bad work and this way, the company’s model has brought it numerous benefits including improved annual production of acquisitions and improved total shipments. With the company’s growth, its existing facilities whose products overlap with those of acquired plants may be forced to seek new businesses to branch into thereby making its workers innovate themselves into more lucrative spots out of tough ones.

Conclusion

Apparently, Nucor is the leading and the most outstanding steel company in the U.S. Its model energizes workers and provides an example of exceptional strategic execution. It also ensures that both workers and managers demonstrate a level of fervor for the company that can border on the bizarre. For other companies, the model is therefore worth considering.