NUCOR Case Study Research Paper Example | Topics and Well Written Essays - 1500 words

NUCOR Case Study - Research Paper Example Most importantly, the company should consider going global in order to exploit emerging opportunities with globalization. 1.4 Recommendations: The most commendable action is for the company to go global. This will diversify its operations by establishing business across the world markets. It is also a better hub within which its technological aspects can be fully put to use, thereby enhancing its competitiveness against rival firms and cheap imports. 1.5 Implementation: Plan implementation by Nucor has to identify market and industry gaps, and then take advantage of the situation. This may require the company to reevaluate its strategic and long term planning, and assess both financial and non-financial implications of the operational decisions made. This is more so in relation to acquisition of firms, self-development, product and brand development. The U.S steel industry has become significantly competitive as the number of operating firms increase. Foreign firms continue to dump low-cost steel in the U.S markets, thereby affecting the operations of domestic firms, and most importantly those of Nucor. Nucor has had to compete against low-cost steel imports in the U.S, as China, Russia, Brazil, and India continue to dump their steel in the U.S markets. The analysis of the U.S steel industry and the subsequent position held by Nucor in that industry are based on Porter’s five forces model. Nucor’s integration of this model into its operations can be summarized by the figure below: Competition in the U.S steel industry is intense and characterized by both domestic and foreign firms (Thompson 214). Foreign firms compete with the domestic firms on the basis of supplying steel imports to the United States. Nucor engages Mittal Steel and U.S Steel in stiff competition since all the three firms are set up in the United States. In other words, the two companies are the key