F. Kenneth Iverson
Encyclopedia
F. Kenneth Iverson is credited with transforming Nucor Steel
from a nearly bankrupt company in the 1960s into the largest and most successful steelmaker in the United States. Trained as a metallurgist, he became a very successful leader and businessman. His management philosophy has been used as a model for other companies around the world.
Iverson wrote a book about his business philosophy Plain Talk: Lessons from a Business Maverick
(Iverson with Varian, 1997). He graduated from Cornell University
in 1946.
Nucor
Nucor Corporation , a Fortune 300 company headquartered in Charlotte, North Carolina, is one of the largest steel producers in the United States, and the largest of the "mini-mill" operators...
from a nearly bankrupt company in the 1960s into the largest and most successful steelmaker in the United States. Trained as a metallurgist, he became a very successful leader and businessman. His management philosophy has been used as a model for other companies around the world.
Management philosophy
Iverson vigorously advocated a lean management staff, decentralized decision-making structure, and egalitarian work environment. At Nucor, he brought the number of levels of management down to 4 - a janitor was literally four promotions away from the CEO's job. Furthermore, he located the corporate headquarters far away from any production facilities and gave each mill great leeway in its own marketing and production decisions. Under his leadership, Nucor did away with executive perks such as reserved parking spaces and special health benefits, and Iverson is known to have personally answered his own phone whenever he was in the corporate office- where a staff of 22 was sufficient for managing the entire multibillion dollar corporation.Iverson wrote a book about his business philosophy Plain Talk: Lessons from a Business Maverick
Plain Talk: Lessons from a Business Maverick
Plain Talk: Lessons from a Business Maverick is a popular business book by F. Kenneth Iverson, former CEO of the Nucor Corporation. The book explains how the management practices he instituted at Nucor can be used as models for success in other businesses.The basic principles emphasized in the book...
(Iverson with Varian, 1997). He graduated from Cornell University
Cornell University
Cornell University is an Ivy League university located in Ithaca, New York, United States. It is a private land-grant university, receiving annual funding from the State of New York for certain educational missions...
in 1946.