BUSINESS CULTURE OF LINCOLN ELETRIC COMPANY
Business culture refers to the style and system of business a company adopts. It determines the operational policy, ethics and etiquettes, how staff handles communication and relationships with one another, and how they deal with clients and customers. Every organization has one, and it is either the reason for their success or cause of their failures. In most occasions, adoption of a particular business culture does solely determine the level of success (although it contributes), because there are many great companies all haven adopted different cultures including those that seem ‘harsh’ to employees, other stakeholders or even customers. Microsoft Corporations® and Best Buy® perhaps fall among the …show more content…
Considering that culture is an important facet of the organization phase of the P-O-L-C framework, it affects the organization’s principles and policies which in turn reflect in her output and/or level of service delivery. It in no small way defines an organization and is more than often credited for the successes and achievements experienced by great organizations like the Lincoln Electric Company.
The company is the world’s largest manufacturer of welding machines and electrodes; and has remained relevant in the industrial market, maintaining a twenty to thirty percent market share index. Even during the World War II, Lincoln Electric strived, becoming the largest manufacturer of arc-welding products. It looks that competitors has lost all ideas as to mapping out substantial strategies in cocktailing her growth, considering that her profits are always on the …show more content…
They found a better way not only to reward these employees but to also motivate others, and this was done by introducing a ‘points record’ system using the Merit Rating Cards; this way, points are recorded for merit in quality of work done, eliminating errors and reducing waste. So, the employee is not only rewarded at the end of a fiscal year but also appraised and his contributions documented.
The communication approach in the company is likened to a football team where the management has absolute and controlling power to order and direct the employees, who in context are the players. The company holds respectability of formal authority in high esteem and this has been her modus operandi sine existence. This was laid down by the founder himself, James F. Lincoln stressed that authority must be given her full respect. However, this doesn’t hamper the working relationship between employees and management regardless of positions; as they take active part in decision
Business culture refers to the style and system of business a company adopts. It determines the operational policy, ethics and etiquettes, how staff handles communication and relationships with one another, and how they deal with clients and customers. Every organization has one, and it is either the reason for their success or cause of their failures. In most occasions, adoption of a particular business culture does solely determine the level of success (although it contributes), because there are many great companies all haven adopted different cultures including those that seem ‘harsh’ to employees, other stakeholders or even customers. Microsoft Corporations® and Best Buy® perhaps fall among the …show more content…
Considering that culture is an important facet of the organization phase of the P-O-L-C framework, it affects the organization’s principles and policies which in turn reflect in her output and/or level of service delivery. It in no small way defines an organization and is more than often credited for the successes and achievements experienced by great organizations like the Lincoln Electric Company.
The company is the world’s largest manufacturer of welding machines and electrodes; and has remained relevant in the industrial market, maintaining a twenty to thirty percent market share index. Even during the World War II, Lincoln Electric strived, becoming the largest manufacturer of arc-welding products. It looks that competitors has lost all ideas as to mapping out substantial strategies in cocktailing her growth, considering that her profits are always on the …show more content…
They found a better way not only to reward these employees but to also motivate others, and this was done by introducing a ‘points record’ system using the Merit Rating Cards; this way, points are recorded for merit in quality of work done, eliminating errors and reducing waste. So, the employee is not only rewarded at the end of a fiscal year but also appraised and his contributions documented.
The communication approach in the company is likened to a football team where the management has absolute and controlling power to order and direct the employees, who in context are the players. The company holds respectability of formal authority in high esteem and this has been her modus operandi sine existence. This was laid down by the founder himself, James F. Lincoln stressed that authority must be given her full respect. However, this doesn’t hamper the working relationship between employees and management regardless of positions; as they take active part in decision