Lincoln Electric's Management Strategy - Essay Example

This ensures that they perform better in their different areas of specialization. 4. This approach made the workers more productive and reflected positively on the growth of the company. This is because every worker strove to please the management and be rewarded for it.

5. The management of the company used scientific management in their strategy. They looked at how the result of reducing production would affect the growth of the company. In so doing they chose a method that could work and enable them to make profits.

6. The quality control that the company used is that they satisfy their employees and motivate them enough. This ensured that they work well and produced quality goods. I believe that this is a good strategy as it ensured that they created quality goods for a long time.

7. The forces that are very important in the management of the company are the socio-cultural forces and the technological forces. This is because they will keep the company in the upfront of the competition if they are looked at keenly.

8. The organization should also pay close attention to the attitude of people towards the changes. They should ensure that they make everyone understand the reasons for changing their strategies.

9. The company should build a strategy that will make its goals more realistic and achievable. Building a good strategy will make them enact the best plans that will ensure their success.

10. The competitive strategy that the company has used is observing the competitors and coming up with a method that is a weakness for their competition. The weakness of the competitors was also the strength of the company.

11. The key elements that the company observed were working with a target duration, having a measurable and attainable goal, and having specific and results-oriented objectives. These elements go a long way in ensuring that the company achieves all its goals and objectives.

12. One of the cultural variation issues that were once a problem for the company is the need of the manager to reward the workers in any instancing they do a good job. This is because it did not motivate them to work as hard. This is because they knew they could get a reward for putting just enough effort into the work that they did.

13. The company was wise to choose the acquisition strategy over Greenfield. This is because with the acquisition strategy they have the assurance that they will use their own strength to grow their company.

14. The company did not embrace the technology world and they thus cannot be able to have wider coverage. The company will also experience the problem of the wrong attitude of the employees in the jobs that they perform.

15. The compensation system will work for the Lincoln electronic company, as the production of the employees is vital for its growth. The system cannot work for other companies like those that deal with innovative ideas. This is because the employees will only work to get the compensation and not produce exceptional work.

16. Lincoln's management strategy differs from that of Hertzberg. This is because Hertzberg believes that employees should be given an environment that challenges them (Ruschak, Pp. 117). These challenges will make them perform better as they will be forced to use their full potential.

17. The company of Lincoln failed in many areas because of the compensation strategy. This is because many employees did not have a chance to explore and use their full potential.

18. The electronic company should invest in Indonesia as they have the potential of succeeding. This can be done by only awarding the employees that perform exceptionally as opposed to compensating all workers.

19. The system has worked well for many years because of the strengths that the company focused on. The company was unable to succeed in other places because of the compensation strategy of the employees that they used.

20. The company should continue to rely on its strengths to have an upper hand in the competitive world. They should also adopt other strategies that have come up with time. This is like e-leadership for the different places that they manage.