Essay on The Legacy Of Lincoln Electric Company

Essay on The Legacy Of Lincoln Electric Company

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BUS 1101 WRITTEN ASSIGN UNIT 3.
Every business organization has a culture that determine its existence. Without culture, an organization will exist with little or no impact in the business world. Interestingly, culture is the strength that keep an organization, and its management together and culture sustains the relevance of organization. Understandably, leader that has a strong culture influences the organization, and such organization will eventually maintain strong leadership culture going forward; that is why in my summary analysis, it is imperative to look at Lincoln Company founder’s culture, the golden rule, the incentives, the performance appraisal system, the communication in the company, the merit pay plan, the bonus plan, and the management style.
CONTINUED INFLUENCE OF THE FOUNDERS ON THE COMPANY;
John C. Lincoln founded the “LINCOLN ELECTRIC COMPANY” in 1895 with an amount of $200, with over 2,400 staff employed in two U.S factories near Cleveland and over 600 employed in three other countries factories. Lincoln market share rose to more than 40%. In
1907, John’s younger brother, James F. Lincoln joined the company as a clerk, later in 1914 became General manager and vice president of the company while John Lincoln remain as president, but choose to get involve in other business. Interestingly, James constituted an elected advisory board to advise him in matters relating to the company. Similarly, this board was elected by employee to represent them in advising the management and till date, the action of James in enacting the advisory board remains in the company. The advisory board which was first instituted in 1914 met with the chairman and the president every two weeks to discuss ways of improving operations. Thi...


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...an readily say that the company adopts an innovative management style. However, when it comes to decision making in Lincoln Electric Company, formal authority is very strong. The decision system is authoritarian in nature, as complete power rest on top management to carry along the success of the company. In Lincoln Electric Company, “management is the coach who must be obeyed” is the ethics and it is respected and carried out to the letter. The assumption is that every departmental head should have authority so that the work will progress unhindered. So in summarizing the culture of Lincoln Electric Company, it is obvious that a combination dimension which includes, innovative, people oriented, outcome oriented, team oriented and stable culture was highly in focus.
In conclusion, this is the analysis that summarizes my understanding of the Lincoln Electric Company.

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