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Essay text:
Nucor?¦s strategy is that of a low cost provider, they know they are selling a commodity and understand their competitive edge in the industry is lowering prices through innovation and productivity. The company operates primarily in two business areas, steel mills and steel products.
Steel Industry Outlook
Driving Forces:
?« Globalization ?V Low cost foreign manufacturers ?§dumping?? steel in the U.S. and other markets.
?« Changes in the economy
?« Changes in currency valuations
?« Input/raw material prices
Key Success Factors:
?« Technological innovation ?V such as the strip casting technology, investing in technology such as this allows Nucor to take calculated risks to ultimately lower their cost to produce steel subsequently raising margins...
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