How do goals and objectives at NUCOR relate to the planning facet of the P-O-L-C framework?

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Posted on

January 2nd, 2023

As a standard performance indicator, every organization has goals and objectives. A firm’s goals are an indication of how it is performing in relation to its objectives. However, goals play a crucial role in helping a company reach its stated goals. Goals are therefore specific, quantifiable and time-bound behaviors. Fertig and Joseph (1921) emphasized four essential organizational functions in the P-O-L–C structure. These four functions include planning, organizing, leading and controlling. Planning is linked to the organization’s mission, vision, goals and strategies.
Nucor management makes sure that Nucor’s goals align with their employees. The employees approach Nucor as though it was their company and can resolve production problems whenever they occur, regardless of bureaucratic regulations. The company’s strategic and long-term goals are achieved by executing its operational goals.
Nucor employees have the opportunity to earn unlimited amounts of money through a rewards-based system. Employees are paid a high salary and receive a bonus package that is based on company success. A portion of additional earnings will also be given to them. This reward system is based on the employee’s performance. Employee pay is linked to company success. This means that Nucor workers may get less than those at other companies, if Nucor’s earnings drop (Lorincova. et al. 2019). The decreased productivity may be affected by the lower salary.
The Nucor Company uses discipline to punish employees who perform poorly. To stop unacceptable behavior by employees, punishments are used. This helps to curb undesirable behaviors that can lead to corporate loss. An employee will be punished if they repeat the same behavior (Hanaysha, Majid 2018). A firm that is successful will have high production and good performance. This discipline can also help other employees avoid similar unprofessional conduct. Workers will do the right thing and work towards their goal to avoid any financial penalty. Nucor Company will reach its overall goals and objectives. This will allow it to grow its revenues and give it a competitive advantage.