...ASSIGNMENT #4: HRM ISSUES/DIVERSIFICATION STRATEGIES Introduction This paper presents the analysis of the Nucor Corporation case (Thompson, Strickland, Gamble, 2010, Nucor Corporation, p. C-193). Nucor is one of the largest producers of steel in the United States with a production capacity that exceeds 26 million tons. Nucor was among the first steel companies in the United States to use electric arc furnaces to melt recycled steel. In 2007, Nucor recycled nearly 10 million cars in its production processes, the equivalent of one SUV every four second (Nucor.com). Trends in the Steel Industry Steel Industry Trends are not at all static in this industry and is a very dynamic. The country that is producing the maximum amount of steel may not be in the first position in the coming years. Analysis of the Steel Industry Trends show that from the period starting from 1910 until the year 1960, the first position in terms of producing the largest amount of steel in the whole world was captured by United States of America. During this period, it was observed that almost half of the total steel production around the globe was produced by USA. However, the scenario started to change after the countries like Japan and China came to the fore. Again, in the recent years, India as well as Brazil has shown tremendous performance in the steel production side. According to the recent Steel Industry Trends, China is the largest steel producing nation. However, it has also been seen that the...
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...Running Head: NUCOR CORPORATION: COMPETING AGAINST LOW-COST STEEL IMPORTS Nucor Corporation Sheri Johnson Dr. James Glenn BUS 599-014016 November 28, 2010 Assignment 4 Abstract This paper will explore articles that I researched regarding Nucor Corporation as well as research that I conducted from online articles and material that I read from the book. This paper will discuss the trends in the steel industry and how it may impact Nucor’s strategy; discuss the organizational structure and management philosophy at Nucor. Identify three HRM issues related to strategy implementation and recommend actions to address these issues. I will be given my own recommendations for related or unrelated diversification that the company would need to address. 1. The trends in the steel industry Nucor Corporation is the second-largest steel producer in the United States and has had net sales of $4.6 billion in 2000. Nucor recycles approximately 10 million tons of scrap steel. It operates in 9 states and produces carbon and alloy steel in bars, beams, sheet, and plate; steel joists and joist girders; steel deck; cold finished steel; steel fasteners; metal building systems; and light gauge steel framing. The company emerged from near Bankruptcy in 1966 to become one of the fastest-growing steel. The steel industry is a dynamic, innovative sector, which is constantly adapting and refining itself to become more competitive in the market. The industry does this...
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...Revision 1 – Introduction IHRM Definition • Covers all issues related to management of people in an international context. • IHRM covers a wide range of HR issues facing MNCs in different parts of their organizations and include comparative analyses of HRM in different countries. HRM Activities • Human Resource Planning (Ensure best fit between employees and jobs) • Staffing (Includes Employee Recruitment, Selection and Placement) • Performance Management (Ensure goals met in effective and efficient manner) • Training and Development (Bettering performance of employees in organizations) • Compensation and Benefits (Awarding employees monetarily or non for work done) • Industrial Relations (Dealing with employee relations) • 3 Dimensions of IHRM: 1. Broad human resource activities of procurement, allocation and utilization 2. National or country categories involved in international HRM activities o Host Country – Where subsidiary may be located o Home Country – Where HQs may be located o Other Country – Where labour, finance and other inputs are obtained from 3. 3 Categories of employees of an international firm o PCN – Parent Country Nationals (Nationals where HQ is located) o HCN – Host Country Nationals (Nationals where subsidiary/facility is located) o TCN – Third Country Nationals (Nationals where resources are obtained from) Difference between IHRM and HRM Activities • More HR Activities o Activities such as...
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...Running head: HRM Issues/Diversification Strategies HRM Issues/Diversification Strategies Assignment #4 Nucor Corporation Strayer University BUS599016VA016-1116-001 Strategic Management August 21, 2011 Abstract This paper examines the trends in the global beer market. The paper will also examine the international expansions that were made through strategic partnerships with distributors in local markets. Foreign Market Entry and Diversification Assignment #3 Corona Beer Grupo Modelo’s corporate mission is, “To produce, distribute and sell quality beer, at a competitive price, optimizing resources and surpassing customer expectations, in order to contributeto the economic and social development of Mexico.” Corona Extra brand has become the fifth best selling beer worldwide and the number one imported beer in the United States. Corona is commonly served with a wedge of citrus fruit in the United States, Canada, Australia, and the United Kingdom. Today, Modelo products are available in more than one hundred and forty countries (http://findarticles.com/p/articles/mi_m0BEK/is_7_7/ai_55012912/). Identify and discuss the trends in the global beer markets. The world of beer is changing and evolving. The most interesting tend is happening in Germany. When most people think of beer they think of Germany. Beer production in Germany dropped 1.7% from 2009 to 2010. Beer consumption dropped 3% in Germany because many German consumers would drink coffee...
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...Assignment #4: HRM Issues/Diversification Strategies: Nucor Corporation Strategic Management, Business 599 Introduction In this paper, we will present an analysis of Nucor Corporation in Case # 10 (Arthur, Strickland, & John, 2010). The paper will discuss the trends in steel industry and how it may impact Nucor’s strategy. In addition, the paper will describe the organizational and management philosophy at Nucor. Furthermore, the paper will identify 3 HRM issues related to strategy implementation and recommend actions to address these issues. Recommendation whether a related or unrelated diversification should be used will also be discussed. Finally, we will be looking at Organizational structure issues the company would need to address to implement the strategy. Trends in Steel Industry and Its Impact on Nucor’s Strategy An analysis of the steel industry trends shows that from the period starting from 1910 till the year 1960, the first position in terms of producing the largest amount of steel in the whole world was captured by United States of America. During this period it was observed that almost half of the total steel production around the globe was produced by USA. But things started to change after the countries like Japan and China came to the fore. Again, in the recent years, India as well as Brazil has shown tremendous performance in the steel production industry. According to the recent steel industry trends, China is the largest steel producing...
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...Assignment: #4 Case #10 Nucor Corporation BUS 599 Discuss the trends in the steel industry and how it may impact Nucor’s strategy. After the 2008 financial and economic crisis, the world steel industry’s recovery has been uneven, but it is recovering faster than expected. The global steel production declined from 129 million metric tons (mmt) in March 2011 to 127 million metric tons in April 2011. However, production increased 5 percent from April 2010. As of the April 2011 first quarter reporting, the United States has produced 28.3 mmt, which is up 6.8% from the same period last year [ (Leybovich, 2011) ]. “In a report earlier this month, the Organisation for Economic Cooperation and Development (OECO) forecasts that global demand for steel would increase 6 percent in both 2011 and 2012. Growth over the next few years is expected to be considerably faster in emerging markets than in developed ones [ (Leybovich, 2011) ].” Nucor is the second largest steel producer in the United States, only behind U.S. Steel. Nucor is considered a low-cost steel producer in the U.S. and the most efficient and technologically advanced steel producer in the world [ (Thompson/Strickland/Gamble, 2010) ]. Nucor is North America’s largest recycler, 17 million tons in 2010, and uses the scrap steel as the raw material to produce steel and steel products [ (SEC filings Nucor Corporation Form 10-K, 2011) ]. Employing multiple approaches, Nucor’s growth strategy...
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...Introduction: Human resource management works with human to formulate and implement the business strategy. HRM and strategy were not related too much before but nowadays the coordination between them is reasonably common in the competitive world. Every manager needs to know how human resources are associated with strategic management to increase the effectiveness of the organization. This assignment has been prepared to give a clear view about the importance of HRM, formulation and implementation of HR strategies. Therefore, the contemporary issues related to strategic human resource management have been analyzed appropriately to show their impact on strategic HRM. All the topics have been assessed by relating with modern business world to show practical overview of human resource management and strategic human resource management. 1. Understanding the role and importance of HRM: 1.1. Definition of strategic human resource management In general, human resource management refers to a process by which the organization functions are accomplished and objectives are achieved through managing and utilizing experienced and skilled workforce. Human resource management starts with recruiting and selecting employees and then makes sure the utilization of the workforce. Strategic human resource management is defined as macro-organizational approach that designs strategic policies and frameworks to decide how the long-term goals and objectives will be achieved through using trained...
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...Course Study Guide 2011–12 International Business Management BUSI 1493 [pic] Contents 1. Welcome 3 2. Introduction to the Course 4 2.1 Aims 4 2.2 Learning Outcomes 4 2.2.1 Knowledge and understanding of: 4 2.2.2 Intellectual Skills: 4 2.2.3 Subject practical skills: 5 2.2.4 Transferable skills: 5 2.3 Learning and teaching activities 5 3. Contact Details 5 4. Course Content 6 4.1 Session Reading 20 5. Assessment Details 21 5.1 Summary of assessment 21 5.2 Detailed description of assessment 21 6. Other Details 23 1. Welcome Welcome to the exciting world of International Business Management! In this era of globalization, there are very few companies that can say that they are not part of a global network. Every firm has to think of itself as a global company, if for no other reason than because it has to meet competition from global companies. This changes the entire strategy of the firm. In the future, we expect that all of you will be involved in managerial decision making that will take you beyond the realms of your geographical territory. This course on International Business Management will have the focus on helping you make better international decisions. Aside from the opportunities offered by globalisation, there are also many risks in entering into the global market. This course will attempt to address, in a structured format, the ways and possibilities of addressing...
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...Management Studies, SOAS, University of London. International Human Resource Management Course Introduction and Overview Contents 1 Course Objectives 3 2 The Authors 4 3 Course Structure 4 4 Learning Objectives 5 5 Study Materials and Resources 6 6 Teaching and Learning Strategy 6 7 Assessment 7 International Human Resource Management 2 University of London Course Introduction and Overview Centre for Financial and Management Studies 3 1 Course Objectives This course aims to introduce you to the study and practice of International Human Resource Management (IHRM). To benefit from this, you need, of course, to have a basic understanding of Human Resource Management (HRM) itself. HRM has developed from personnel management, but instead of concentrating primarily on the hiring and firing of staff, it is the strategic and coherent approach to the overall management of an organisation’s most valued assets – the people working there who contribute to the objectives of the business1. Its main aim is to develop personnel policies that improve employee relations at work. This course will, therefore, begin with an examination of the history and nature of Human Resource Management, before embedding it in its international context. In Unit 1, you will learn about the main tasks involved in HRM: • human resource planning • job...
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...Business strategies and human resource management: uneasy bedfellows or strategic partners? John Purcell University of Bath Bath BA2 7AY 01225 386567 J.Purcell@bath.ac.uk 1 Business strategies and human resource management: uneasy bedfellows or strategic partners? One of the assignment questions for this year’s class studying ‘Strategy and Human Resource Management’ (a very popular course) was: Does, and should, competitive strategy determine the design of a firm’s HR system? Give illustrations to support your answer. One of the great advantages in working in a university which has top students is that you can ask them questions you are not quite sure how to answer yourself! The best students gave clear examples of such a link and then got stuck in to the ‘should’ part of the question often noting the critical difference between competitive strategy and business strategy. Some even went further into corporate strategy, the resource based, and knowledge based view as well as ethics, culture and institutional setting. Surprisingly none of them questioned what was meant by a firm’s HR system. I will follow the same line of argument in this paper with thanks to the students, very few of whom have any intention of becoming HR professionals. We start with some of the classics in strategy and HRM, go on to look briefly at some major studies, or the ones that have influenced my thinking. Thereafter the paper notes the problems with the assumed link with competitive strategy as a dominant...
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...Business. Emphasis is placed on utilizing the tools for graduate success. 2 MGT-605 Leadership and Organizations The purpose of this course is to introduce students to the Ken Blanchard College of Business, key concepts of leadership, and an overview of how the science of organizational behavior contributes to effective leaders and managers. 4 ACC-502 Accounting Practices This course is designed for individuals who are preparing for more advanced coursework in accounting and for students who have not had accounting in undergraduate work. Topics covered include the principles and practices of financial accounting and the fundamentals of managerial accounting, such as cost behavior and budgeting. The course covers accounting theories using computational examples, and homework is problem solving. 4 FIN-504 Finance Principles This course is designed for individuals who are preparing for more advanced coursework in accounting and is designed for students who have not had finance in undergraduate work. Topics covered include financial analysis, financial planning, asset evaluation, capital structure, and working capital management. 4 SYM-506 Applied Business Probability and Statistics The purpose of this course is to prepare students in mathematical, probability, and statistical concepts for their upcoming studies in quantitative methods. The course is intended for those students who have not had any prior statistical education, although students who have had statistics...
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...INTRODUCTION Training and development is the main part in Human Resource Management (HRM). It is very significant for employees to enhance their performance and productivity, which leads to employee and customer satisfaction and an increase in the profitability of the organization.This report will be discussed by Australian public organization that named Department of Foreign Affairs and Trade (DFAT)in several aspects. 1. Introduce the background of DFAT, including background of the organization, the organization goals and strategy; 2. Link with DFAT to analyze five theories about training and development, which are cross-culture training, training design, development and managing diversity; 3. Summarize the performance in training and development and make a result that whether DFAT has a good performance in HRM; 4. Make some recommendations to promote the organization. BACKGROUND Background of the organization The Department of Foreign Affairs and Trade is a department of the government of Australia charged with advancing the Australian interests and the international representation of Australians. DFAT employs over 2000 permanent employees including 1140 of which were policy officers. In these policy offers, 49 per cent were working with the department in Australia, 35 per cent were overseas and 16 per cent were off-line (DFAT 2012, P4).In order to provide the Australian community and the government with the high quality foreign and trade policy results, the department...
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...Chapter 2: Strategy and Human Resources Planning If nothing else, my students should learn that… • It is important for HRM to align its policies and processes with the business strategy in order to provide value to the organization (external fit), and that the policies and processes are mutually reinforcing (internal fit). HR planning follows the same pattern as organizational strategic planning, and hence the two processes are complementary. • In order to evaluate the effectiveness of strategy, it is imperative to take the ‘people side’ into consideration. Sole reliance on financial documents (e.g., financial statements, cash flow statements, income statements) largely ignores investment in human capital. Learning objectives • Identify the advantages of integrating human resources planning and strategic planning. • Understand how an organization’s competitive environment influences its strategic planning. • Understand why it is important for an organization to do an internal resource analysis. • Describe the basic tools used for human resources forecasting. • Explain the linkages between competitive strategies and human resources. • Understand what is required for a firm to successfully implement a strategy. • Recognize the methods for assessing and measuring the effectiveness of a firm’s strategy. Why is this chapter important? The purpose of this chapter is to highlight the nexus of strategy and HR planning...
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...ADRIAN ALEJANDRO GALINDO LARA ------------------------------------------------- STUDENT ID L0174MVMV012 ------------------------------------------------- MBA SEMESTER 2 ------------------------------------------------- MANAGING HUMAN CAPITAL ------------------------------------------------- LECTURER DAVID HALL AND DR. RAJENDRA KUMAR ------------------------------------------------- ------------------------------------------------- MHC ASSIGNMENT | HRM-TQM PERSPECTIVES AND RECRUITMENT AND SELECTION METHODOLOGIES | MHC ASSIGNMENT | HRM-TQM PERSPECTIVES AND RECRUITMENT AND SELECTION METHODOLOGIES | PART “A” ESSAY 2327 WORDS (EXCLUDING REFERENCES) HUMAN RESOURCE MANAGEMENT AND TOTAL QUALITY MANAGEMENT PERSPECTIVES Table of Contents Table of contents 3 Abstract 4 Introduction 5-6 Literature Review/Discussion ..7-9 British Perspective 7-8 Latin American Perspective 8-9 Conclusion 9-10 References 11 ABSTRACT Nowadays in the modern organizations Human Resource Management (HRM) is a key issue not only for a competitive advantage in the business and the development or success of the companies is also a key point for the welfare of the organizations as an entity. The Management of the Human Resources is a matter of perspectives according to Audrey Collin on her general review...
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...The current issue and full text archive of this journal is available at www.emeraldinsight.com/2051-6614.htm Human resource management and organizational effectiveness: yesterday and today Randall Schuler and Susan E. Jackson School of Management and Labor Relations, Rutgers University, New Jersey, USA and Lancaster University Management School, Lancaster, UK Abstract Purpose – The purpose of the paper is to describe how the understanding of the relationship between human resource management (HRM) and organizational effectiveness (OE) has evolved during the past three decades and to provide examples how firms are using HRM to improve their OE today by addressing several challenges that result from a broader stakeholder model. Design/methodology/approach – This paper reviews the past and current work on the relationship between HRM and OE. Findings – This findings indicate that the relationship between HRM and OE is very different when comparing the past with the current work on the relationship between HRM and OE. A major reason for this is the current work on OE uses the multiple stakeholder model that accounts for many more stakeholders than the past work. Practical implications – Human resource (HR) professionals have the opportunity to demonstrate many ways by which HRM can influence OE, and not just solely on the basis of firm profitability. Thus the use of the multiple stakeholder model today offers the HR professional and the HR profession many more opportunities...
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