Nucor

Case 17.1 Nucor Corporation: Innovation, Change, and Motivation

Marvin Ash, Lequilla Page, Janice Tucker, Vernard Wilson, Joanna Wright

Course 5590: Organizational Behavior

Dr. Victor A. Oladapo

5 March 2015

Webster University

Columbia Metro

Mission Statement

“Nucor Corporation is made up of approximately 20,000 teammates whose goal is to "Take Care of Our Customers." We are accomplishing this by being the safest, highest quality, lowest cost, most productive and most profitable steel and steel products company in the world. We are committed to doing this while being cultural and environmental stewards in our communities where we live and work. We are succeeding by working together.” (Nucor, 2015)

History

In 1905, Ransom E. Olds, the creator of the Oldsmobile car, had a dispute with stockholders and left his own company, Olds Motor Work. He then went on to form REO Motor Company, which eventually involved into the Nuclear Corporation of America and ultimately, Nucor.REO was very successful at first, relying on defense contracts but as soon as the Korean War ended so did REO. It’s merger with Nuclear Consultants, Inc. to form Nuclear Corporation of America. Nucor is made up of more than 20,000 Teammates whose goals is to Take Care.

In 1962, Nuclear Corporation made two critical moves that would change the company and the American steel industry. First, they acquired a company called Vulcraft, a company that struggling in their production on steel joists and girders. Then they hired Ken Iverson who would become one of the great visionaries and leader in the American steel industry. After three years with Vulcraft, because of Ken Iverson success in Vulcraft, he was appointed as president of Nuclear Corporation.

In 1966, they moved their headquarters from Phoenix, Arizona to Charlotte, North Carolina and in 1969, they built their first mini mill in Darlington, South Carolina as a joint division with Vulcraft to accommodate their customer’s supply...