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Lincoln Electrical Company's Strategies - Essay Example

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The writer of the paper "Lincoln Electrical Company's Strategies" gives answers to questions about two strategies that Lincoln Electrical Company used to ensure the competitive advantage over rivals. Due to it company expanded its customer base and improved productivity…
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Lincoln Electrical Companys Strategies
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Download file to see previous pages The company ensured that the employees interacted freely with the management and that compensation and reward corresponded to performance. In essence, the company ensured that employees felt valued an important in the company and that their needs were cared for by the management. 4. The approach to deliberately motivate employees through reward and free interaction by the management ensured that employee satisfaction was always high. Cost reduction also functioned to motivate employees because the saved revenue was transferred to the employees. However, the emphasis the company placed on performance functioned to motivate the employee to increase their productivity. The piecework compensation strategy functioned to motivate employees to work harder. In addition, the paid for holidays and the rewards functioned to improve employee satisfaction. 5. The classical approach to the human resource is that employees are an asset to an organization and not a liability. Therefore Lincoln ensured that it always invested in the employees to increase their productivity. The scientific approach had viewed human beings as a people who do not like working naturally and that responsibilities should be broken down into smaller tasks for motivation. Lincoln employed the classical approach in the management of its human resource. 6. Lincoln's approach to TQM, quality control, and quality assurance was to employ an in-house strategy to ensure that the employees owned the quality control and quality assurance processes. ...Download file to see next pagesRead More
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