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 (Iverson with Varian, 1997). He graduated from Cornell University in 1946.
Read more about this topic: F. Kenneth Iverson
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