Based on the case study, Nucor is not strong in internal development as they don’t have their own Research and Development (R&D), but Nucor had a very strong monitoring system to help avoid R&D costs by investigating the technology advances before applying it. Nucor has high technology equipment’s in most of its plants. Nucor was one of the first steel companies that melt the recycled steel by using electric arc furnaces. Nucor faces intense competitions with its competitors mainly in situations. Nucor competes with the bigger steel exporting countries like China, Japan and South Korea and the bigger steel importing country like France, Germany and Italy. Nucor also faces tight competition with countries such as China, Germany and Korea which has the benefits of being both the largest import and export country (Case Study).
Nucor uses Castrip, to cast the sheet steel directly from the molten steel with the need for heavy, expensive and energy-consuming rollers. Nucor also has highly flexible production process utilizing electric arc furnaces and highly productive labour allowing Nucor to manage productions based on customer’s needs.
Acquisition is when a company buys some or all of the acquired companies’ stakes in order to gain control. By acquisition, Nucor can solve problems that scourge in the US steel industry, such as the duplication of capacity and the inefficient management. Nucor is relying on acquisitions and joint ventures to