Industry Analysis: The Lincoln Electric case
Summary :
Table of Contents
- Introduction
- Present strategies
- Vision, mission, goals and objectives
- Corporate level of strategies
- Business level of strategies
- Functional strategies
- Financial analysis
- Conclusion
- Appendix
- Bibliography
Abstract
Employee compensation sets lincoln apart form their competition. Developed by James lincoln shortly after joining the business, the payment scheme is compromised of piece rate pay and bonus pay. At the end of each year, a bonus is issued to each employee, the amount is determined upon company profits and the workers performance. In years passed an individuals bonus may have approached their annual salary. The connotation of the bonuses and generous benefits package is not to motivate, but rather to express respect for every employee's dedication. As a result turnover is at an industry minimum and productivity is twice that of competing companies.
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