Lincoln Electric Essay - 787 Words

The Lincoln Electric Company nbsp;nbsp;nbsp;nbsp;nbsp;Headquartered in Euclid, Ohio, a suburb of Cleveland, The Lincoln Electric Company is a world leader in welding and cutting products, as well as a premier manufacturer of electric motors. The company is well known for its dedicated, talented workforce and its superior technology. Lincoln Electric Company gives its customers total solutions along with a commitment to quality. Lincoln Electric Company is also well known for its incentive management system. Many companies strive to duplicate the success that Lincoln has enjoyed over the years. nbsp;nbsp;nbsp;nbsp;nbsp;John C. Lincoln founded Lincoln Electric Company in 1895 with a capital investment of $200. At first he only†¦show more content†¦Why were Lincoln employees willing to work overtime during an August vacation time in 1994? The following benefits are some of the main reasons why Lincoln employees will do almost anything to help its employer: amp;#61623; an employee stock purchase plan amp;#61623; company-paid life insurance amp;#61623; piece rates adjusted for inflation amp;#61623; a pension plan amp;#61623; promotion from within amp;#61623; a practice of lifetime employment amp;#61623; paid vacations Since its inception in 1895, Lincoln Electric Company was privately owned. This allowed for the protection of the processes that has kept Lincoln in the lead. However, after two years of losses in 1992 and 1993 due to a harsh foreign market, Lincoln Electric Company had to go public. With multi-million dollar, domestic updates and acquisitions in such countries as Italy, China, and Indonesia, Lincoln Electric Company wasted no time by dwelling on its first losses in Lincolnamp;#8217;s history. Lincoln is back on track as the world leader in arc welding, after faltering for only two years. Lincoln is committed to providing substantial value to all of its stakeholders. nbsp;nbsp;nbsp;nbsp;nbsp; SWOT ANALYSIS STRENGTHS amp;#61623; Very satisfied, dedicated and talented employees amp;#61623; Worldwide manufacturing amp;#61623; Superior technology amp;#61623; Commitment to quality amp;#61623; Incentive performance system amp;#61623;Show MoreRelatedLincoln Electric Essay1300 Words   |  6 PagesThe two most important issues that Lincoln Electric is faced with are as follows. First, the inability to meet customer demand because of the shortages in supply creates opportunities for competing firms to enter the industry. What resources and capabilities does Lincoln Electric have that can mitigate this threat of entry. Second, the emphasis put on the monetary incentive plan leaves the company vulnerable in economic hardships. How can Lincoln Electric continue to encourage competition and qualityRead MoreThe Legacy Of Lincoln Electric Company Essay985 Words   |  4 Pages(roughly $6,000 in 2016 with inflation) and a dream, Lincoln Electric company has grown exponentially over the past 121 years. John C. Lincoln, disenfranchised with his lack of involvement with the Elliot-Lincoln company he was formerly with, set out to develop and manufacture a new patented form of electric motors. Lincoln Electric company, officially incorporated in 1906 by John C. Lincoln, was created as an engine manufacturer. In 1907, James F. Lincoln, John’s younger brother joined the company, gainingRead MoreCulture Of The Lincoln Electric Company1174 Words   |  5 PagesWritten Assignment Unit 3 Culture of the Lincoln Electric Company The company culture of Lincoln Electric is one of teamwork, support and innovation. After reading and reviewing the case study done on Lincoln Electric by Arthur Sharplin of McNeese State University, I have come away with a better understanding of how the company has become the role model for management world-wide. Many different programs have been incorporated into the company that insures morale and productivity levels remain highRead MoreThe Legacy Of The Lincoln Electric Company934 Words   |  4 Pages The Lincoln Electric Company was created by John C. Lincoln in 1895 after being forced out of the Elliot-Lincoln Company. The Lincoln Electric company would go on to become the world’s largest manufacturer of welding products and machines. This all came to be due to the business culture instilled by the founders and continued up to the present. A Harvard case study done by Arthur Sharplin, shows the organizational culture within Lincoln Electric is unique to any single ordinary business cultureRead MoreThe Lincoln Electric Company Analysis951 Words   |  4 PagesThe Lincoln Electric Company was originally started by an entrepreneur named James Lincoln. Lincoln took out his second patent after his departure from Elliot-Lincoln Company, to begin the manufacturing of his new and im proved motor. Taking this step began what is now known as the Lincoln Electric Company that went from employing 30 to over 2,400 employees. Lincoln had a plan that he knew would create a successful company but he could have never dreamed just how successful it would become. LincolnRead MoreThe Legacy Of Lincoln Electric Company953 Words   |  4 PagesFounded in 1895 by John C. Lincoln, the Lincoln Electric Company is a high-quality manufacturer of welding machines and welding equipment based out of Cleveland, Ohio. Lincoln Electric was founded upon a strong foundation of competitive logic, using many levels of synergy in its manufacturing process to create the highest quality welding equipment and the lowest costs. Through the company’s unique management system and vertical integration strategies, they have created and maintained a strong competitiveRead MoreThe Legacy Of The Lincoln Electric Company Essay889 Words   |  4 PagesThe Lincoln Electric Company has dominated the market of welding machine manufacturing since its infancy in the late 1900’s. Their continued success is due to companies’ ability to adapt different organizational cultures, into a beautiful melting pot of profitability. Management could be described as a mix of both outcome-oriented and stable styles, with a hefty dose of people-oriented cultures, all wrapped into one. In 1895, engineer, inventor, and businessman John C. Lincoln started Lincoln ElectricRead MoreLincoln Electric Company Essay1024 Words   |  5 Pagesorganized company. The Lincoln Electronic Company is the world largest manufacturer welding machine and electrodes. Since it has been created by the Lincoln family, the company has known enormous success, in this essay I going to look at some critical elements contributed that company’s success; such as: ï  ¶ The continuing influence of the founders of the company. ï  ¶ The incentive management plan. ï  ¶ The performance appraisal system. ï  ¶ The way people communicate in the company. Lincoln Electric Company 3 WriteRead MoreThe Legacy Of The Lincoln Electric Company1137 Words   |  5 PagesThe Lincoln Electric Company, located near Cleveland, Ohio, USA, is one of the world’s largest welding machines and electrodes manufacturers. It is a company with a distinctive organization culture and not only is it one of the world’s largest, but also is considered to be one of the best managed manufacturing companies in the world. By taking a closer look at the ongoing influence of the founders of the company, the golden rule, the incentive management plan, the performance appraisal systemRead MoreThe Lincoln Electric Companys Culture1123 Words   |  5 Pages In 1989, Arthur Sharplin produced a case study, Sharplin (1989), outlining the organizational structure and culture of the Lincoln Electric Company. This report will be focused on analyzing Sharplin’s case study to discern aspects of the Lincoln Electric Company’s culture. First, we will discuss John James Lincoln and their influence on the development of the culture of the company. We will discuss their Christian influence, and how applying the golden rule of doing to others as you would have