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Essay / Research Paper Abstract
This 6 page paper analyzes Nucor Corporation's success first using Porters Five Forces Analysis and then using Porter's Competitive Advantage analysis. Nucor is the largest steel producer in the U.S. It achieved this position by adopting two innovative concepts: mini-mills and thin-slab casting. The writer also comments on the economic outlook for thin-slab casting. Bibliography lists 8 sources.
Page Count:
6 pages (~225 words per page)
File: MM12_PGnucor.rtf
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in the industry in this country (Wall Street Transcript Corp., 2002). Two of the largest competitors in terms of the mini-mill concept are Commercial Metals and AmeriSteel, (Wall Street Transcript
Corp., 2002). CEO Daniel R. DiMicco commented this side of the industry is fragmented with numerous companies in the competitive mix with Nucor at the lead (Wall Street Transcript Corp.,
2002). Analysts, such as Michael Gambardella, have commented "The US is the most fragmented steel industry in the world" (Gambardella, 2001). In terms of flat roll steel, Nucor competes with
various integrate producers, including U.S. Steel and National (Wall Street Transcript Corp., 2002). DiMicco credits Nucors success to its corporate culture and also its pay for performance compensation system (Wall
Street Transcript Corp., 2002). DiMicco said: "People are rewarded for being productive, low cost, safe, efficient and for producing a quality product" (Wall Street Transcript Corp., 2002). This performance-based incentive
system is throughout the entire company with at least two-thirds of an employees salary related to the incentive system (Wall Street Transcript Corp., 2002). Nucors "steel production employees are amongst
the highest paid in the world" (Wall Street Transcript Corp., 2002). Nucors corporate culture is one that is based on decentralization, giving responsibility and authority to employees, with everyone working
as a team (Wall Street Transcript Corp., 2002). Gambardella also commented that one of Nucors strengths is its management team (2001). And, Placet and Branch pointed out that Nucor has
neither a mission statement nor a written strategic plan (2002). These authors go on to point out that Nucor models a learning organization (Placet and Branch, 2002). Because of
the high costs of entry and the already fragmentation of the industry with so many companies in existence, this is not an easy industry to enter. New entrants represent little
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