Nucor Corporation Case Essay Example for Free

Nucor Corporation Case Essay Summary: For more than 20 years the Nucor Corporation has been one of the leading manufacturers of steel and steel related products in the world. With their technology advancement, low debt ratio, decentralized type of organization and many more, this company still thrives to achieve better goals in their company. Aside from the positive views of the company, it also faced problems like bankruptcy. (te pakidagdagan n lng) History: Nucor traced its origins to auto manufacturer Ransom E. Olds, who founded Oldsmobile, and later, Reo Motor Cars. Through a series of transactions, the company eventually became the Nuclear Corporation of America, a company involved in the nuclear instrument and electronics business. In 1972, the firm changed its name to Nucor Corporation. By 1998, it had become America’s second-largest steel maker. Operations: Nucor related its diverse facilities in rural areas across the United States, establishing strong ties to its local communities and its work force. As a leading employer with the ability to pay top wages, it attracted hard-working, dedicated employees. These factors also allowed Nucor to select from among competing locales, siting its operations in states with tax structures that encouraged business growth and regulatory policies that favored the company’s commitment to remaining union-free. By mid-2008, Nucor operated 53 facilities throughout the United States and one in Point Lisas, Trinidad. The company also maintained operations through wholly owned subsidiaries, Harris Steel and the David J. Joseph Company (DJJ). Strategy: Nucor’s strategy focused on two major competencies: building steel manufacturing facilities economically and operating them productively. Organization Structure: Compared to the typical Fortune 500 company with 10 or more management layers, Nucor’s Structure was decentralized, with only the four management  layers illustrated below: Chairman / Vice Chairman / President Vice President / Plant General Manager Department Manager Supervisor Human Resource Policies: Employee relations at Nucor were based on four principles: 1. Management is obligated to manage Nucor in such a way that employee will have the opportunity to earn according to their productivity. 2. Employees should feel confident that if they do their jobs properly, they will have a job tomorrow. 3. Employees have the right to be treated fairly. 4. Employees must have an avenue of appeal when they believe they are being treated unfairly. Compensation: Nucor provided employees with a performance-related compensation system. All employees were covered under one of four compensation plan, each featuring incentives for meeting specific goals and targets. 1. Production Incentive Plan * employees directly involved in manufacturing were paid weekly bonuses based on actual output in relation to anticipated production tonnages produced. The bonuses were paid only for work that met the quality standards and were pegged to work group, rather than individual output. 2. Department Manager Incentive Plan * Department managers earned an annual incentive bonus based on the performance of the entire plan to which they belonged. The targeted performance criterion here was return on assets. 3. Non-Production and Non-Department Manager Incentive Plan * All employees not in the Production Incentive Plan or Department Manager Incentive Plan – including accountants, engineers, secretaries, clerks, and receptionists – received a bonus based primarily on each plant’s return on assets. It could total over 25% of an employee’s base salary. 4. Senior Officers Incentive Plan * Included all corporate executives and plant general managers. A portion of pre-tax earnings was placed into a pool that was divided among the officers. If Nucor did well, the officers’ bonuses, in the form of stock (about 60%) and cash (about 40%), could amount to several times their base salaries. If Nucor did poorly, an officer’s compensation was only base salary and, therefore, significantly below the average pay for this level of responsibility. Information Systems: Benefits: Nucor took an egalitarian approach toward employee benefits. Nucor’s benefit program also attested to the company’s commitment to education. Technology: Nucor did not have a formal RD department, a corporate engineering group, or a chief technology officer. Instead, it relied on equipment suppliers and other companies to do the RD, and they adopted the technological advancements they developed – whether in steel or iron making, or in fabrication. Teams composed of mangers, engineers, and machine operators decided what technology to adopt. Future: The company’s biggest challenge (in the future) is to continue to grow the company at 15 – 20% per year, and to keep earnings parallel with its growth. Analysis: Nucor Corporation became one of the top corporations in the steel industry because of their handwork and technology innovation. This company also sees and takes care of its employee’s needs, which in return gives them  a quality service in their work. Conclusion: Nucor, even though we can see it as a successful, almost perfect company, still faces problems like other businesses in the industry. Problem: The company has lost one-third to one-half of its market value when the stock reached its peak value (mid-2008), and has not recovered as of 2012. Recommendation: We can recommend change in the company’s technology, like getting more advance equipments in making steel and steel-related products. Or the company could make a merger to other company to utilize its resources to its maximum while keeping cost low.

expatriate failures :: essays research papers fc

EXPATRIATE FAILURES â€Å"The internationalization of business has proceeded at a rapid pace as the world has become a global economy.†(Mathis, Jackson 2000) This is the very reason why companies now have the need for international executives. As all aspects of a business spread worldwide, so must the employees. An expatriate by definition is a home-county national, usually an employee of the firm, who is sent abroad to manage a foreign subsidiary. (Rodrigues, 2001) A successful expatriate generally requires an extensive amount of time and money, however, a failed expatriate can be even more costly for an organization. A study of multinational corporations showed that 69% (of the firms surveyed) had recall rates of expatriates between 10 to 20 percent. Compared to Japan and their figures, (86% of firms had less than 5% recall rate) the United States has room for improvement. (Tung, 1981) There are many reason for expatriates to fail and many differences between Japan and United States’ hum an resource management planning.   Ã‚  Ã‚  Ã‚  Ã‚  One of the main reasons why expatriates fail is due to the social and physical environments of the foreign country. Adaptation problems can effect the on-the-job effectiveness of the expatriate. Different value systems and living habits are a main cause of adaptation problems and the inability to communicate only worsens the problem. Lack of communication verbally and nonverbally can affect every aspect of a persons career and person life. If someone can’t communicate, imagine the difficulty of going to the bank, dealing with customers, and even going grocery shopping. In addition to the new surrounding environments, if the expatiates family can not accompany them or is not happy with the new living arrangements then it could result in separation anxiety. Humans need to feel secure in their environments and with all of these downfalls it is extremely difficult to accomplish. When an expatiate is not happy with their situation, it will reflect on their job p erformance.   Ã‚  Ã‚  Ã‚  Ã‚  Some other reasons for expatriates to fail are differences in the managerial and organizational principles. If a foreign country has different principles than the home-country than implementation can be very difficult. This also applies to objectives and policies. With such differences the expatriate may need to conform to the local situation. â€Å"If the expatriate manager’s authority is visibly constrained, his or her opportunity to establish and maintain an effective relationship with local associates is diminished.† (Rodrigues, 2001) An expatriate’s authority can appear constrained if the home office overcentralizes the decision making.

Leadership Failure at Tyco Essay

William B. Lytton remembers the aura of working in the White House in 1987, amidst the power and the personalities that surrounded President Ronald Reagan. Lytton had taken leave from his Philadelphia law firm for six months to act as Deputy Special Counselor for Reagan during the Iran-Contra investigation. â€Å"I would mentally pause and think of how fortunate I was to be there,† Lytton recalled. But as if to check that emotion, he would summon the lessons of John Dean, the young White House lawyer who found himself caught up in the Watergate scandal after allowing himself to become â€Å"dazzled,† as Lytton put it, by the blinding light of power. Speaking to several hundred Vermont Law school students, Lytton recommended they readBlind Ambition, Dean’s memoir about the Watergate years. The book, he said, would serve as a vehicle for young lawyers to question themselves on how they might behave in such a situation. Lytton’s Oct. 6 lecture, entitled â€Å"Just Say No,† laid out the ethical challenges faced by lawyers in a culture where it is often difficult to speak up to power, whether it be in a politically charged atmosphere such as the White House or in a corporate culture such as Tyco International. Lytton stepped in as general counsel at Tyco in 2002 as the company was enmeshed in a multi-billion accounting fraud scandal. Lytton’s role was to resolve the legal issues and clean up the culture, no small feat in a $38 billion company that employed 260,000 people worldwide. His friend was among those under indictment. In the Tyco failure, Lytton said, â€Å"They failed as leaders. They forgot that leadership was about serving others and not themselves. † But it was also a failure of those who follow the leaders, the corporate lawyers who failed in their duty to keep the leaders in check. Like John Dean during Watergate, Tyco lawyers wanted to please their bosses. When the scope of the corporate corruption became clear, Lytton said, the remaining questions were, â€Å"Where were the lawyers? Where was the harsh spotlight of scrutiny? † Yet while the public clamors for criminal prosecutions in such cases, Lytton maintains that it is not illegal intent, but rather the culture of the corporate world and the pressure â€Å"to make your numbers† that often drives corporations into such scandals. Most of the people who became infamous for their misdeeds&helip;were not evil people,† said Lytton, who also serves as a VLS Trustee. As he sees it, they lost sight of the cultural boundaries, blinded by their own career advancement goals. That, he said, is where the role of the corporate lawyer becomes critical. â€Å"As a lawyer, you have a greater and a different responsibility than everyone else,† he said. While it might prove difficult to stop bad th ings from happening, â€Å"Sometimes,† he said, â€Å"you do need to just say no. † A leader plays very important role in the success of the organization. Good leader has vision and he can take the organization forward, a not so good leader finds himself unable to influence the employees and lacks vision and he may cause the failure of the organization. A good leader has exceptional quality to influence his followers . A leader has extraordinary effect on followers and followers become committed to the leader. So, if leader is taking his followers towards the organizational goal, it is positive for the organization. A good leader has power to motivate the followers to contribute individually and hence collectively to the organization. Leader helps the followers (employees) to achieve the goals and objectives set for the organization. A participative leader includes the employees in decision making process. He encourages the employees to share their ideas and views which is considered in decision making process. It makes the decision making like a team work and employees feel themselves a part of the decision making team. So, participative style of leadership motivates the employees to contribute more and increases the belongingness. The leader has vision to foresee the future of the organization. He motivates the employees accordingly. He has influence among employees and he leads from front. By sharing that vision with other followers, and allowing them to take part in achieving that vision, all individuals will benefit from the successful results (Bateman, & Snell, 2007). Any organization’s long term goal is more than just making profit. Organization needs to manage its resources including human resource, efficiently to achieve the set long term goal. Leader plays very crucial role in achieving the goal. He can lead the organization to success or failure. All leadership styles try to achieve same goal, i. e. o help the employees to contribute more individually as well as collectively, and take the organization forward. Organizational culture plays major role in the success of an organization. A successful leader helps in creating healthy organizational culture which allows individual as well as organization to grow and sustain the growth. The failure of the leader is reflected in the weak organizational culture which may result in the failure of the organization. Other important factor which decides the success or failure of an organization is management and organizational structure. Management is responsible for long term planning and setting up the goal of the organization. They have the control of the organization. Top management executes Planning function of management as per POLC model. Other activities of the organization are directed to achieve the goal set in planning phase. If top management fails in setting right long term goal of the organization, all other activities will also be directed in wrong direction and hence, organization may not sustain for long. Organization’s structure and hierarchy delegates power(authority) and responsibilities. It dictates who will do what and who has got what level of authority. Organization’s structure tells who is in charge of taking what decision and who is responsible for a specific act and decision. A successful organization should have clearly defined delegation of authority so that if something goes wrong, management can track the responsible person and know the reason why it went wrong. Sometimes organization deliberately create the organization structure in such a way that any mischief can not be determined easily. In short term organization may be benefited from such organizational structure, but in long term kit may be fatal for the organization’s very existence. TYCO International Tyco International is a diversified global manufacturing and service provider company, having stake in electronics and telecommunication, security, healthcare, flow control etc. Tyco Tyco has been victim of many scandals. It has been acquiring so many businesses and in year 2002 it posted extensive loss. In an effort to cut losses, Tyco divested Tyco capital business through IPO. Tyco healthcare segment also divested its Surgical Dynamics. As a result, in 2002, turnover rose to $35 billion but company incurred a loss of $9 million, including asset impairment write-down of $3 billion. In addition to the financial woes, Tyco faced another massive scandal in 2002- Its former chairman and CEO, L. Dennis Kozlowski was charged for excesses. In 2002, Edward D. Breen was appointed CEO of Tyco for three years. In 2004 Annual Report, then CEO Edward D.  Breen said- † Our success was based on a simple strategy: to make operational excellence a core competency, to build a platform for sustainable organic growth, to invest in our people, and to hold ourselves to the highest ethical standards†¦ † (Allen, & Hartman, 2008). Tyco was pursuing organic growth strategy. In organic growth, company seeks to grow by increasing revenue of existing business rather than acquiring other companies. This was a part of long term plan of Tyco. Tactical plans are made for shorter period to implement the long term plan successfully and achieve the long term goal set by the management. Tyco started working on reviving its corporate image and enhance consumer awareness. In order to build brand value, Tyco launched a global print campaign ion 2004 – â€Å"Tyco a vital part of your world. † Tyco started reviewing its core business and sold rest of the businesses. As a part of this strategy, Tyco sold TGN in 2004 (which was almost entirely written off by that time). In total, Tyco divested 21 businesses and liquidated 4 non-core businesses. In line of the strategic plan and tactical plan, Tyco’s operational plan was also showing same trend. Operational . Tyco had set very good operational plan as well. [pic] Failure of Tyco was the failure of management and leadership. All wrong decisions, lack of control, absence of any internal control system, organizational structure with flaw and weak organizational culture caused the failure of the giant Tyco International. Its former chairman and CEO, L. Dennis Kozlowski and senior managements faced prosecution for â€Å"larceny and conspiracy, falsifying business records and violating business law. † (Tyco Worldwide, 2004, 1). They were accused of misappropriating money and assets from the company for personal use totaling in the range of $210 million dollars. cover their theft, they entered into secret contracts, further damaging the company’s integrity. The executive’s unethical behavior resulted in huge debt and decoration of the value of shareholders. Tyco reached at the verge of bankruptcy. This kind of incident indicates how weak organizational culture was prevailing in Tyco. The leader himself was involved in unethical and illegal activities. A leader can cause success or failure of the organization. In case of Tyco, leader was the caused of the failure. Later, CEO and senior management had to resign and law indicted them. What happened in Tyco can be called failure of leadership and failure of management in checking unethical practice. All organizations have ethics code in place but it is merely a guideline. Organization should monitor how actively ethical code is followed. Moreover, a leader should take initiative and motivate and inspire the employees to follow the ethical practices so that slowly it becomes a part of the process and organizational culture.

Love Affair and Maturity of The Tramp and The Gamin in...

Love is displayed in many shapes and forms. Love can exist without it being acknowledged and the simplest things can draw two people together. Charlie Chaplin’s Modern Times displays an unusual love affair. The Gamin and the Tramp share a love like no another. They both share a common dream that brings them together. This dreams unites them in a relationship. The Gamin and the Tramp idealize of the â€Å"American dream†. They witnessed happy a husband and wife and made a dream for themselves from this image. This dream includes a husband, a wife, a house and everything that comes with it except the responsibility. In a particular scene in the movie the Tramp fantasize about life with the Gamin. His fantasy includes a cow milking†¦show more content†¦In this scenario the Gamin and the Tramp act as children. In comparison when children see for example a surplus of candy they feel the need to finish all at the designated time. Upon seeing the food in bu lk they feel the need to finish it at the set time instead of thinking of tomorrow. The ideas of the Gamin and the Tramp bring them together in a relationship. They both want to achieve that â€Å"dream†. Destiny happened to throw them together and they have no one else so they chose to live the dream as one. In terms of relationship the Gamin and the Tramp share an immature relation. Their bond is of a dream and realistic could not happen. They do not see father than what is in front of them. The Gamin and the Tramp think like children. They do not wonder where their next meal will come from. They live life in the moment and figure out what come next when they meet up with the situation. There are various aspects of the Tramp and the Gamins relationship that lacks maturity. Their relation is based upon what they think should happen and could happen but there is evidence of some kind of relation. It is a mere unfortunate encounter of two people-seeking refugee from the law. Both the Gamin and the Mussaleen 3 Tramp constantly is running from the law. The relation between them can defiantly be described as unique. They have no one but each other and found a sense of love from that. One scenario in the