Case Study of Lincoln Electric Company
Integrative Case: The Lincoln Electric Company
Tony Slattery
Everest University
Abstract
“We are a global manufacturer and the market leader of the highest quality welding, cutting and joining products. Our enduring passion for the development and application of our technologies allows us to create complete solutions that make our customers more productive and successful. We will distinguish ourselves through an unwavering commitment to our employees and a relentless drive to maximize shareholder value” (http://www.lincolnelectric.com/en-us/company/Pages/vision-statement.aspx). This is the vision of James Lincoln, founder of Lincoln Electric Company. I will look at this vision and apply it towards the question being asked.
Integrative Case: The Lincoln Electric Company
Projects to Extend Your Learning:
Integration and Application. P. 30
Identify the stakeholders of the company you chose (Lincoln Electric or Southwest Airlines) and discuss the relative importance of each stakeholder to the company.
The Lincoln Electric Company has three main stakeholders. First, James Lincoln was totally committed to its customers. The buyers are the most essential people for any business. The consumers are the source upon which the accomplishment of the corporation rests on. When contemplating about the significance of patrons it is valuable to recall the following ideas:
Repeat dealing is the pillar of vending. “It helps to provide revenue and certainty for the business” ("Marketing theory," n.d., para. 1).
Corporations are reliant on upon their customers. If they do not improve purchaser allegiance and contentment, the businesses might drop them.
Lacking customers the business would not survive.
The reason of the business is to satisfy the wishes of the customers.
The customer makes it likely to attain corporate goals.
Secondly, none than others enjoyed prosperity than its own employees. “Not the least of their benefits, of
Tony Slattery
Everest University
Abstract
“We are a global manufacturer and the market leader of the highest quality welding, cutting and joining products. Our enduring passion for the development and application of our technologies allows us to create complete solutions that make our customers more productive and successful. We will distinguish ourselves through an unwavering commitment to our employees and a relentless drive to maximize shareholder value” (http://www.lincolnelectric.com/en-us/company/Pages/vision-statement.aspx). This is the vision of James Lincoln, founder of Lincoln Electric Company. I will look at this vision and apply it towards the question being asked.
Integrative Case: The Lincoln Electric Company
Projects to Extend Your Learning:
Integration and Application. P. 30
Identify the stakeholders of the company you chose (Lincoln Electric or Southwest Airlines) and discuss the relative importance of each stakeholder to the company.
The Lincoln Electric Company has three main stakeholders. First, James Lincoln was totally committed to its customers. The buyers are the most essential people for any business. The consumers are the source upon which the accomplishment of the corporation rests on. When contemplating about the significance of patrons it is valuable to recall the following ideas:
Repeat dealing is the pillar of vending. “It helps to provide revenue and certainty for the business” ("Marketing theory," n.d., para. 1).
Corporations are reliant on upon their customers. If they do not improve purchaser allegiance and contentment, the businesses might drop them.
Lacking customers the business would not survive.
The reason of the business is to satisfy the wishes of the customers.
The customer makes it likely to attain corporate goals.
Secondly, none than others enjoyed prosperity than its own employees. “Not the least of their benefits, of
References: Jackson, S. E., Schuler, R. S., & Werner, S. (2011). Managing human resources (11th ed.). [CourseSmart]. http://dx.doi.org/ISBN-13 9991133185727 Marchington, G. (2000, December). Best practice Human Resource Management: Perfect opportunity or dangerous illusion. International Journal of Human Resource, 11(6), 1104-1124. Why customers are important. (n.d.). Retrieved from http://businesscasestudies.co.uk/business-theory/marketing/why-customers-are-important.html#axzz2jKUo9sUW