Product details

The ninth largest steel producer in the world, Nucor, began life as a car manufacturer, then later diversified into manufacturing nuclear testing and electronics equipment, and ultimately steel joist manufacturing. The success of the joist manufacturing business led the company to invest in a new experimental mini-mill technology that used scrap steel to produce steel. With the help of the new technology and a unique organisational culture, the company became the second largest producer of steel in the US. The organisational culture encompassed an egalitarian workplace and a decentralised organisational structure. The company's compensation system is strictly based on performance, which helped keep productivity levels high in addition to boosting employee morale. The company's culture has helped increase net income from $311 million in 2000 to $1.3 billion in 2005. But the company's expansion plans overseas and a rigid work culture are raising doubts about its sustainability.