Lincoln Electric Company Case Study
Introduction
In the 1980's was around the time Author Sharplin researched the Lincoln Electric
Company. He dove into the history of the company, which was founded in 1895, by
John Lincoln with $200 and an electric motor he created himself. He discussed how
his brother came on board, instilling family orientation and Christian values. His
brother started a merit program the employees. The employees eventually became
shareholders with guaranteed employment, and a whole new reason for the company
to do well. With this guaranteed employment came a commitment to education and
the business eventually opened a welding school. The wages were paid on piecework,
meaning they got paid on productivity and even higher by merits.
Going …show more content…
Gaining trust of the
establishment I feel at this time the company was in full swing of utilizing the “golden
rule" in it was in full force, creating eager to produce staff and winning numbers.
Over the years with this enormous emphasis on adequate pay for works and services
rendered, the company nearly doubled the salaries of its employees at year end.
Financially this sounded like a huge loss to the company, giving away so much in
benefits, that they could have help as profit, but this profit-sharing became the
standing point on which an ingenious plan to become the best in the field of
management and production, that the world has ever seen. Using this method, the
company grew. Year to date in 2014, the company now boasts 49 manufacturing
plants, in 19 different countries with worldwide distribution and is now known as top of
the line in welding materials.
Observation
Looking at the dynamic of how the company is ran, it motivates and moves forward for
benefits of the employees and the company. To be a part of this organization, …show more content…
Even during the financial "rough
patches" in the 1980's no employees were ever laid off for lack of work, fulfilling the
founders' promises. Continued success made them industry leaders, and that in its
own right, employees created their own job security, backed by strong organizational
leadership.
Conclusion
The Lincoln Company has a very strong, dependable culture, very stable with
innovative qualities. The staff thrives on fiscal responsibility, great quality and loyalty. In
1993 employees voluntarily waited to take vacations to provide excellent customer
service. 614 weeks of vacation was affected that year. Not only do these managers
and staff members play part owners and stakeholders, they show of bond of
commitment to the company and their teams. Extending the love outward, in 2011 the
company built a wind tunnel for electricity, to conserve energy and saved themselves
$500,000 a year, which equals to higher bonuses for the staff. The mission set forth
by the founder has encouraged growth for everyone who involves themselves with this
company. In 2011, Lincoln electric Company earned 2.7 billion dollars (US),
In the 1980's was around the time Author Sharplin researched the Lincoln Electric
Company. He dove into the history of the company, which was founded in 1895, by
John Lincoln with $200 and an electric motor he created himself. He discussed how
his brother came on board, instilling family orientation and Christian values. His
brother started a merit program the employees. The employees eventually became
shareholders with guaranteed employment, and a whole new reason for the company
to do well. With this guaranteed employment came a commitment to education and
the business eventually opened a welding school. The wages were paid on piecework,
meaning they got paid on productivity and even higher by merits.
Going …show more content…
Gaining trust of the
establishment I feel at this time the company was in full swing of utilizing the “golden
rule" in it was in full force, creating eager to produce staff and winning numbers.
Over the years with this enormous emphasis on adequate pay for works and services
rendered, the company nearly doubled the salaries of its employees at year end.
Financially this sounded like a huge loss to the company, giving away so much in
benefits, that they could have help as profit, but this profit-sharing became the
standing point on which an ingenious plan to become the best in the field of
management and production, that the world has ever seen. Using this method, the
company grew. Year to date in 2014, the company now boasts 49 manufacturing
plants, in 19 different countries with worldwide distribution and is now known as top of
the line in welding materials.
Observation
Looking at the dynamic of how the company is ran, it motivates and moves forward for
benefits of the employees and the company. To be a part of this organization, …show more content…
Even during the financial "rough
patches" in the 1980's no employees were ever laid off for lack of work, fulfilling the
founders' promises. Continued success made them industry leaders, and that in its
own right, employees created their own job security, backed by strong organizational
leadership.
Conclusion
The Lincoln Company has a very strong, dependable culture, very stable with
innovative qualities. The staff thrives on fiscal responsibility, great quality and loyalty. In
1993 employees voluntarily waited to take vacations to provide excellent customer
service. 614 weeks of vacation was affected that year. Not only do these managers
and staff members play part owners and stakeholders, they show of bond of
commitment to the company and their teams. Extending the love outward, in 2011 the
company built a wind tunnel for electricity, to conserve energy and saved themselves
$500,000 a year, which equals to higher bonuses for the staff. The mission set forth
by the founder has encouraged growth for everyone who involves themselves with this
company. In 2011, Lincoln electric Company earned 2.7 billion dollars (US),