This is a delicate balance for any organization to attain, and Nucor has been able to keep the variation in production process balanced with the need to keep employees motivated while changes in their business model are implemented.
Based on your recommendation for related or unrelated diversification, identify the organizational structure issues that the company would need to address to implement that diversification.
With related diversification the recommendation, organizational and structural issues are minimized, as this strategy will integrate companies whose structures and management philosophies are comparable to Nucor. This will also minimize resistance to change and make the integration of companies much more effective over time. Finally, this approach will make it systems and processes much more efficient...
Three human resources management tactics that can help to address these issues are the fostering of corporate culture, the integration of new companies and JVs and lastly the path of promotion in the company. The corporate culture is essential to the success of a company like Nucor, which must attract talented individuals from throughout the industry in order to maintain its leadership position. In addition, in an industry focused on
The second HRM issue is that of training. The steel industry being characterized by mature firms, often supported by government, can breed complacency. Nucor needs to ensure that management at its acquisitions and joint ventures has a high level of training in the systems and techniques that Nucor uses to drive its innovation. This training needs to be diffused throughout the organization. This increases risk, however, in the joint ventures
HRM Issues One of the most important HRM issues that must be addressed is represented by the fact that the company does not use job descriptions. Although the practice of Nucor and the appreciation of both managers and employees have revealed that this system seems to be working, the situation must be changed in order to increase and to maintain efficiency. The company's motivational system is another area of interest in relation
(Livingston 2012) What are the positive aspects of this theory -explain how markets behave? Why? The positive aspects of this theory are that it identifies changes in the markets early. This helps investors to be able to purchase stocks when everyone has become overly pessimistic (leading to a massive selloff). At the same time, this theory helps to determine when the underlying trends could be changing (with investors becoming overly optimistic).
Full creativity allows the production of greater wealth, for a stronger and more evolved society. Further in defense of the moral systems or perceived lack thereof in terms of newly created wealth, D'Souza asserts that most wealth currently created is the result of personal effort, rather than means such as inheritance. The wealth can then indeed be seen as the reward for effort, rather than wealth as a result of
HRM Challenges in Today's Organizations All organizations require employees to make them a success and this function is considered as important as finance, machinery and land for running the organization successfully. The important point to note here is that individuals all have different temperaments and working methods, and some people in the organization are responsible for making them all work together. This is the job of the human resources department which
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