Nucor Corporation Innovation Change and Motivation Bryan Matthew

Nucor Corporation: Innovation, Change, and Motivation Bryan, Matthew, John and Brandon

Who is Nucor? https: //www. google. com/url? sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0 ah. UKEwi 0 v. LWu 3 oz. LAh. VIr 4 MKHUJJDj. EQj. Rw. IBw&url=http%3 A% 2 F%2 Fwww. corporate-ethics. org%2 Fnucor-building-a-performance-based-culture-3%2 F&psig=AFQj. CNEt 6 y 6 w. Reqd. FKo. ENx. Q 7 S 56 Ru. E 27 RA&ust=1456277427804838 http: //www. nucor. com/story/chapter 1/ http: //www. nucorbuildingsystems. com/green/recycling. html

Ransom E Olds In 1905, Ransom E. Olds, creator of the Oldsmobile, had a dispute with stockholders and left his own company — Olds Motor Works. He soon formed REO Motor Company, which evolved into the Nuclear Corporation of America. t f a r c l u V d e r i u q c a 1962 – n o s r e v I en K t n e d i es r P – 5 6 9 1 https: //en. wikipedia. org/wiki/File: Olds 2. jpg "Ransom Eli Olds". Encyclopædia Britannica Online. Encyclopædia Britannica Inc. , 2016. Web. 23 Feb. 2016 <http: //www. britannica. com/biography/Ransom-Eli-Olds>.

Steel Transformation In 1965, faced with bankruptcy, Kenneth Iverson proposes that the corporation move into the steel industry. http: //www. historync. org/images/laureates/iverson 1. jpg

Steel Transformation By 1971, Nuclear Corporation of America shed most of its conglomerates to focus on the steel industry. The company has now elected to change its name to Nucor. http: //www. simplysafedividends. com/wp-content/uploads/2016/01/NUE-Dividend. Stock-e 1453401876890. png

Nucor Case 17. 1 Emergency Call: Electrical grid failure at the Hickman, AR facility http: //www. nucorar. com/Nar_System_Nucor_Mills_Jpg/Aah%20 Nucor%20 Steel%20 DS C 02617. jpg

Nucor Case 17. 1 Emergency Call: Electrical grid failure at the Hickman, AR facility Malcolm Mc. Donald- electrician from Decatur, AL (travelling from IN) Les Hart- electrician from Herford County, NC Bryson Trumble- electrician from Herford County, NC

Nucor Case 17. 1 Emergency Call: Electrical grid failure at the Hickman, AR facility The team worked 20 hour shifts, slept in the facility substation to get the grid fixed in three days instead of the full week that was projected. Executive VP – John J. Ferriola – “Happens Daily!”

Nucor Case 17. 1 Nucor headquarters is under 95 people, with just five layers of management. “Teammates – not managers – drive our success. ” http: //www. nucor. com/story/chapter 4/

Nucor Case 17. 1 Pay Equality. https: //www. glassdoor. com/research/ceo-pay-ratio/

Nucor Case 17. 1 Nucor more closely resembles a family of smaller companies than it does a Fortune 500. Each facility has a great amount of freedom in running its own operations and meeting its customers’ needs. From product procurement and setting production goals to creating and administering safety programs, the buck stops with the general manager of each operation.

Nucor Case 17. 1 How would you describe the culture of Nucor? • “We care about our teammates, our customers, the environment and the communities in which we live and work. It’s not just our way of doing business; it’s our nature. ” - John Ferriola • Owner/Operator mentality • Teamwork

Nucor Case 17. 1 Why is the type of executive pay practice at Nucor not found in many other companies? • Performance vs. Luck • Beyond the norm • Comparison’s with other companies

Nucor Case 17. 1 If innovative solutions to problems are needed at Nucor, how do you think they will emerge? That is, will internal or external forces bring about the needed innovations? • Employee Empowerment = Ideas • External Forces • Competitors • Market Prices • Raw Materials Cost • Economic Stability

Nucor Case 17. 1 ST SWOT RE N GH TH S • Industry Leader • Financially Stable • Risk Taking Culture • Loyal Workforce

Nucor Case 17. 1 W SWOT EA KN ES S • Little Global Presence • Domestic Dependance • Heavy External Influence ES

Nucor Case 17. 1 Op SWOT po • Domestic Expansion • Employee innovation • R & D rtu nit i es

Nucor Case 17. 1 SWOT Th rea • Competitors • Rising Production Costs • Strategic Locations ts

Nucor Case 17. 1 Recommendations • Continue expansions within the U. S. • Use frontline employee innovations to prevent product overlap • Keep the company culture as constant as possible