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Nucor - Strategy

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GROUP CASE STUDY

EXECUTIVE SUMMARY
Nucor is the world’s leading mini-mill producer of a diverse range of steel products such as bars, beams, sheets, plates joists and fasteners. With a production capacity exceeding 27 million tons, it is the largest producer of steel in the United States, as well as North America’s largest recycler.
Nucor’s growth and success are driven by its low-cost strategy and technological leadership. By pioneering the use of electric arc furnaces and creating a network of mini mills, the company eliminated the need for excessive costs in production processes, capital equipment, raw material, distribution and manpower.
COMPANY HISTORY
1950s-60s – make of nuclear instruments and electronics
1964 – exited nuclear to focus on profitable steel joist bsiness
1972 – adopted the name Nucor and began long-term strategy to grow into a major player in the US steel industry
1985 – became the 7th largest steelmaker in North America
2012 – surpassed US Steel as the largest steel producer in North America
2014 – made 166 consecutive quarterly dividend payments, having earned profits in every quarter of every year since 1966
VISION, MISSION, VALUES
Nucor is made up of over 20,000 employees guided by the following vision and mission: “Take care of our customers by being the safest, highest quality, lowest cost, most productive and most profitable steel and steel products company in the world.” The company broadens its definition of “customers” by including employees, shareholders, purchasers and end-users. Nucor is also committed to being cultural and environmental stewards within their communities.
In order to achieve its goals, Nucor has created a unique and engaging culture with the following focal points: Commercial Excellence, Safety First, Eliminating Hierarchy,
Granting Trust and Freedom, Giving All Workers a Stake in the...

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