Human Resource

Social / Demographic

The demographic of population size is the most important factor that has influence on the steel industry. The steel industry is directly related to the population size of the demographic segment. The population size is positively related to steel consumption. The population is affecting the most influential factors of steel consumption, which includes transportation, machineries, energy and others.

In U.S., the population size is increasing in the past 100years. Based on the increasing in population size, it can make the U.S. steel consumption continue to rise in the next 10years.

In the steel industry, it is a predominately male-led industry. This is evident by Nucor's leadership circle, and executives, where only one woman is present. This lack of diversity has an impact on the industry, and limits the potential of the industry with a mainly male run workforce

Technological

The technology plays a role in evolvement of the steel industry. Nucor have been many advances in the steel industry. Although the steel industry has not typically been seen as a technological industry, but in the steel industry, it needs a lot of technology to run the equipment process. The technology helps lower the costs of steelmaking and helps increase the production. Technological developments have substantially increased steel availability and thus reduced its price. The increased availability and decreased price of steel played a key role in the second industrial revolution and modern society. In the steel industry, technology is needed to make the best products in the most efficient and positive.

Economic

Economics issues bring large effect of the Nucor of steel industry. The issues they are facing include a weak dollar, global competitors consolidating and rising energy prices.

The weak dollar which