In your current workplace or any company that you are familiar with, briefly share an example of a successful strategy that leads to the achievement of desired organizational objectives, goals, strategies and measures.
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Manufacturing steel is not a
glamorous job. The industry is beset by many problems, and more than 40
steel manufacturers have filed for bankruptcy in recent years. Most
young employees do not view working at a steel mill as their dream job.
Yet, one company distinguished itself from all the rest by remaining
profitable for over 130 quarters and by providing an over 350% return on
investment (ROI) to shareholders. The company is clearly doing well by
every financial metric available and is the most profitable in its
How do they achieve
these amazing results? For one thing, every one of Nucor Corporation’s
(NYSE: NUE) 12,000 employees acts like an owner of the company. The
overarching goal is “take care of our customers.” Employees are
encouraged to fix the things they see as wrong and have real power on
their jobs. When there is a breakdown in a plant, a supervisor does not
have to ask employees to work overtime; employees volunteer for it. In
fact, the company is famous for its decentralized structure and for
pushing authority and responsibility down to lower levels in the
hierarchy. Tasks that previously belonged to management are performed by
line workers. Management listens to lower level employees and routinely
implements their new ideas.
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Sep 12th, 2015
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