What does a SWOT analysis reveal about Nucor’s situation? Strengths Low-cost producer – Successfully executed and maintained a low-cost provider strategy by seeking out and impending cost Maintained low operating and production costs by implementing innovative and cost saving steel-making technologies. st producer which has successfully implemented innovative cost-saving steel-making technologies. Successfully implemented innovative cost-saving steel-making technologies technology to lower the costs and implementing innovative cost-saving steel making technologies. asintaining low operating costs by implementing the use of low-cost steel making technologies. Aggressively pursues innovative steel-making technologies to improve efficiency …show more content…
Joseph Company – In 2008, Nucor’s acquired one of its own scrap metal suppliers. The DJJ Company was a leading scrap metal company in the U.S. that processed about 3.5 million tons of scrap iron and steel annually. With the acquisition, Nucor also acquired the DJJ Rail Services business that owned over 2,000 railcars that moved scrap materials, offered railcar fleet leasing services. Supplies its own direct reduced iron – In 2004, Nucor purchased assets from a plant in Louisiana that converts iron ore pellets into direct reduced iron. This has provided Nucor with a large supply of DRI to produce more demanding steel products. Extremely low turnover rate – Nucor is a nonunion “pay for performance” organization. They have an incentive based compensation system that rewards goal-oriented individuals and they do not put a maximum on what an employee can earn. Nucor employees earn double or more than the average worker at other steel manufacturers. Nucor employees receive the same health, dental and life insurance packages and vacation/holiday schedules as upper management. Their fringe benefit packages also include tuition reimbursement, service awards, and their children receive a $3,000 scholarship per year for four