Scientific method Essay
1. 1 Reasons choose the case 1. 2 The Problems The problems of this case are: 1. How would you characterize Lincoln Electric’s strategy? In this context, what is the nature of Lincoln’s business and upon what bases does this company compete? 2. What are the most important elements of Lincoln’s overall approach to organization and control that help explain why this company is so successful? How well do Lincoln’s organization and control mechanisms fit the company’s strategic requirements? 3. What is the corporate culture like at Lincoln Electric? What type of employees would be happy working at Lincoln Electric?
4. What is the applicability of Lincoln’s approach to organization and control to other companies? Why don’t more companies operate like Lincoln? 5. What colud cause Lincoln’s strategy implementation approach to break down? What are the threats to Lincoln’s continued success? 6. Would you like to work in an environment like that at Linciln Electric? 1. 3 The Aim/Objectivity The objectives of this case are: CHAPTER II LITERATURE For the literature we will focus at the ….. CHAPTER III CASE ANALYSIS 3. 1 Background Case Lincoln Electric Company Lincoln Electric Company 2. Case Analyis.
CHAPTER IV CONCLUSION 4. 1 Conclusion of this case study analysis are: 4. 2 Recommendations for The Lincoln Electric Company: Conclusion Lincoln Electric has found a simple way to beat the competition in the manufacturing industry, Lincoln puts the employees first, knowing that without happy employees nothing will improve and nothing will get produced. Through revolutionary incentive programs and effective motivation techniques Lincoln has found ways to keep employees coming back day after day with smiles on their faces and a genuine love for the company in their hearts.
It is rare to find companies that value the individual so much while at the same time becoming a leader in their industry. Lincoln has shown that it doesn’t take ruthless executives, slave driver managers, and horrible work conditions to squeeze every last bit of effort out of an employee. Giving employees freedom, paying them for how hard and how efficiently they work, and giving the workers the opportunity to participate in decision making are all it takes to coerce enough effort from workers for the company to be immensely successful.
Conclusion The Lincoln Electric case study has illustrated many concepts that Organizational Behavior has to offer. We have discussed many ways in which individuals, groups, and the organizational structure therein, has influenced the behavior at Lincoln Electric. The overall structure has contributed to almost every aspect of the company. Take for example the degree of care for employees at Lincoln, their progressive paradigm allows its employees to feel empowered, enthusiastic, and satisfied with the organization.
This consequently, leads to an efficient way of producing their products, ensuring quality, and strengthening client relationships. Employees at Lincoln participate in different divisions. The structure allows for job rotation that reduces boredom, increases motivation, and has a positive influence on productivity. Second, the Advisory Board gives employees a sense of authority and helps maintain communication between lower-level workers and upper-management.
Lincoln’s recognition of their employees as “the company’s most valuable asset,” combined with their competitive compensation package, inspires employee loyalty. Benefits provided include: Medical, vacation, company paid retirement plans, and annual bonuses that are determined by the individual performance evaluations. The foundation for success at Lincoln Electric or any other organization has much to do with the people within the organization, the teams, and individual. It can be said then, after our examination, that there exists a inter-dependent relationship between Lincoln, and its employees.
This relationship, held together by competitive compensation, care, and openness, has lead to the company’s magnificent reputation for employment, management, as well as the impressive profit margins. Lincoln should serve as an example for similarly structured organizations. In order to be successful, an organization must keep its workers satisfied. DIBAWAH SEK ADA!!! Lincoln Electric has proven that keeping employees happy is key to a successful business. This has been true in the past for Lincoln and seems to be working currently, as Lincoln recently announced a raise in dividends to be paid.
With increasing competition in the manufacturing industry coming from abroad and the worldwide financial crisis, it is astounding that Lincoln has managed to stay strong and actually pay shareholders more than ever before. A Quick Update According to the Lincoln Electric website, their incentive management system compensates and encourages individual and team initiative and responsibility at all levels of employment within the U. S. subsidiary. Lincoln has never experienced a work stoppage in its 100-plus year history.
Over the last few years, Lincoln Electric has continued to make acquisitions all over the world, thus expanding their profits and securing themselves as one of the largest manufacturing of welding materials in the world. The benefits that Lincoln Electric still continues to use are the Advisory Board, Piecework incentives, bonus plan, guaranteed employment after three years of service with no layoffs since 1948, and a 401(k) plan. Lincoln Electric’s profits have continued to increase over the past several years and due to its global expansion it seems Lincoln Electric is here to stay.
Subject: Case study,
University/College: University of Arkansas System
Type of paper: Thesis/Dissertation Chapter
Date: 26 September 2016
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