The Lincoln Electric Company Is The World 's Largest Manufacturer Of Welding Machines

954 Words Sep 28th, 2015 4 Pages
THE LINCOLN ELECTRIC COMPANY
The Lincoln Electric Company is the world 's largest manufacturer of welding machines and electrodes. Lincoln employs 2,400 workers in two U.S. factories near Cleveland and approximately 600 in three factories located in other countries. The legendary Lincoln bonus plan was proposed by the Advisory Board and accepted on a trial basis by James Lincoln in 1934. The first annual bonus amounted to about 25 percent of wages. There has been a bonus every year since then.
Company Philosophy
The confidence that he had in the efficacy of Christ 's teachings is illustrated by the following remark taken from one of his books:
The Christian ethic should control our acts. If it did control our acts, the savings in cost of distribution would be tremendous.
The company motto, "The actual is limited, the possible is immense," is prominently displayed. Lincoln 's goal, often stated, is "to build a better and better product at a lower and lower price." ' It is obvious, James Lincoln said, "that the customer 's interests should be the first goal of industry."
Beliefs and Assumptions about Employees.
The greatest fear of the worker, which is the same as the greatest fear of the industrialist in operating a company, is the lack of income. The earnings of each must be in accordance with accomplishments.
Lincoln 's Business
It is the predominant way of joining steel in the construction industry.
Lincoln 's share of the market has been thirty and forty percent for many…

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