Industry The selected industry I am entering is the steel industry. This industry is a robust one which is involved in enormous monetary transactions every year, practically since the formula for rendering steel (the Bessemer process) was discovered by Thomas Bessemer (Misa, 1995). The steel industry closely coincides with the manufacturing industry, since steel is utilized in the manufacturing of a number of different products and services (Ruddick, 2016). Therefore, those

(Macdonagh-Dumler and Pebbles et al. 1-14) The Marquette Range, which consisted of huge deposits of high quality iron ore, was discovered in the year 1844, the operations were initiated in the year 1846. Other ranges that were opened by the year 1910, included the Menominee, Gogebic, Vermilion, Cuyuna, and, the Mesabi range in Minnesota, in the year 1892. (Macdonagh-Dumler and Pebbles et al. 1-14) In the year 1844 the first great

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

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

Government Intervention in the Steel Industry The Bush administration announced the imposition of sweeping tariffs of up to 30% on steel imports to the United States for a period of 3 years in March 2002 purportedly to save the ailing steel industry from collapsing. Predictably, the action has invited particularly harsh criticism from the U.S. trade partners that have been directly affected by the tax, i.e., the European Union, Japan, and

In retrospect, the industry failed to respond appropriately by lobbying for federal restrictions on imported steel instead of recognizing the need to embrace a newer technology in the form of modern oxygen furnaces as an improvement over the open-hearth furnaces that replaced the Bessemer process almost a century earlier. Similarly, steel industry leaders like the infamous U.S. Steel Company continued to ignore the reality of decreased quality of North American