Lincoln Electric Company Case Analysis Essay
Lincoln Electric Company is an American multinational and global manufacturer of welding products, arc welding consumables, plasma and oxy-fuel cutting equipment and robotic welding systems. John C. Lincoln founded the company in 1895 with only 200dollas as a capital investment to produce electric motors he had designed.
Lincoln Electric’s business model has been listed as one of the strongest studied by the Harvard Business School and has been featured in many case studies by other business schools around the world. Since 1975, the Harvard Business School alone has written eight cases about the company. It has a worldwide network of distributors and sales offices covering more than 160 countries: in North America, Europe, Middle East, Asia and Latin America. It also …show more content…
Lincoln. That individual value, whether owner, manager should be considered, profit sharing and continue employment for people who are seeking for jobs regardless of their education levels.
The company uses the performance appraisal plan just to evaluate the work performance of employees. The performance appraisal is carefully structured on appraisal that monitors the work performance naturally, formally and not based on personal wishes and perceptions. Each supervisor formally evaluates his subordinates twice a year using the cards. This appraisal plan helps the company to maintain its culture and its performance.
The communication in the company is based on open door. Employees can communicate among themselves without any problem. There is none prerequisites to executives. The merit pay plan of Lincoln company is based on bonuses for workers who perform their job effectively according measurable criteria. Therefore, the merit rating cards is used to records performance of every work. The higher the scores the higher bonuses you