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 …show more content…
Lincoln felt strongly that financing for company growth should come from within the company. The unusual pricing policy at Lincoln is succinctly stated by President Willis: "at all times price on the basis of cost and at all times keep pressure on our cost."
How Well Does Lincoln Serve Its Public?
Lincoln Electric differs from most other companies in the importance it assigns to each of the groups it serves. Mr. Willis identifies these groups, in the order of priority as (1) customers, (2) employees, and (3) stockholders.
As we can see with the text about Organizational culture, we can point out that Lincoln Electric Company, followed the steps presented by Principles of Management, in which, Organizational cultures are created by a variety of factors, including founders’ values and preferences, industry demands, and early values, goals, and assumptions.
Culture is maintained through its commitments in reach a goal of reduce cost at a high level possible and to engaged to every employee in that goal. Everyone at Lincoln company has the enough power to decide over their jobs and act in a respectful way as a team, following the directions of management. The benefits are distributed to every employee in a direct relation to the accomplishment of their duties at high quality without
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 …show more content…
Lincoln felt strongly that financing for company growth should come from within the company. The unusual pricing policy at Lincoln is succinctly stated by President Willis: "at all times price on the basis of cost and at all times keep pressure on our cost."
How Well Does Lincoln Serve Its Public?
Lincoln Electric differs from most other companies in the importance it assigns to each of the groups it serves. Mr. Willis identifies these groups, in the order of priority as (1) customers, (2) employees, and (3) stockholders.
As we can see with the text about Organizational culture, we can point out that Lincoln Electric Company, followed the steps presented by Principles of Management, in which, Organizational cultures are created by a variety of factors, including founders’ values and preferences, industry demands, and early values, goals, and assumptions.
Culture is maintained through its commitments in reach a goal of reduce cost at a high level possible and to engaged to every employee in that goal. Everyone at Lincoln company has the enough power to decide over their jobs and act in a respectful way as a team, following the directions of management. The benefits are distributed to every employee in a direct relation to the accomplishment of their duties at high quality without