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Nucor In 2005 (Case Summary) Essay

764 words - 4 pages

Symptoms:Steel industry is having one of biggest slowdowns with weak prices and rivalry bankruptcies due to both domestic and international economy slowdown.Technological aging in US steel industry almost forced US steel makers out of business. Steel makers in other countries were developing and using technologies that allowed significantly reducing unit prices. Almost all innovations in technologies were made outside US.Competition on Us market was tough due to low import prices (Japan, France, Luxemburg, Spain), that made to cut prices also for domestic steel producers to stay competitive. Also damping and subsidized imports were taking place to win market share. US government initially ...view middle of the document...

Alternatives:Nucor could analyze market and reconsider Nucor's strategies by leaving the old strategies as it was. Company could use its previous management style and expansion strategies and not respond to overall industry changes due to its all time differentiation from other market players and success.(pros) In 2003 there were changes in the board of the company since company was working with methods established by previous long-time leader Iverson. It would be very good to reevaluate the strategy of the company as it is new century with many global changes. Results of evaluation should be a base on what make or not to make changes in company strategy leaving all successful things and eliminating or improving weak ones.(pros) Nucor have been differing since its establishment and could afford not to follow overall industry structure change if it can retain its positive growth.(cons) Nucor have to come out with new strategies differing from overall market trends which could give them competitive advantage. Market IS changing and some adjustments must be implemented.(cons) as far company`s strategy was a key to its success by changing too much it can miss...

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