Question

propose a solution to fix a current problem and longer-term course of action to prevent a longer term problem in the Lombardi leadership case study

Answer 1

Nucor is one of North America's leading steel manufacturers producing high quality and low cost steel products. One of Nucor's main challenges is that of a stiff market from foreign imports resulting in over-supply. Asian steel producers sell steel products that are cheaper in quality relative to Nucor's, which is why they lose a significant portion of their market share. Because of its rivals it faces difficulties in managing costs and maintaining a strong profit margin.

Therefore, in order to manage its expenses and benefit money from the company, it must boost its research and development by hiring the best experts for the job, to lower the costs and make more profits. It will perform research on how international manufacturers produce the goods at a much lower cost and thereby improve their cost-efficiency.

One long-term problem facing the organization is the shortage of emerging technology. In a environment where its rivals are using the latest technolgies to manufacture steel goods at low costs, Nucor can engage in development work to figure out what the other firms are doing for the new technology.

It will rely on creativity, and deliver quality goods in order to draw more customers. It will enter into joint ventures with international companies that manufacture related goods at a lower price. It would further develop its industry by opening itself to more markets, learning how to work and also growing its total market share. Material and technical advancement is what Nucor will focus on.

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