Strategy Assignment : Lincoln Electric

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Issue:

Miscellaneous

 

Written by:

Stephanie E

 

Date added:

January 25, 2011

 

Level:

University

 

Grade:

A

 

No of pages / words:

8 / 2111

 

Was viewed:

4773 times

 

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Essay content:

The bonus levels in Lincoln far exceeded those of industry peers and were based on their contributions in the form of output, ideas, cooperation, dependability and quality. Consequently, the benefits provided by Lincoln were not extensive as they saw higher wages as substitutes for things such as insurance, and workers were also in a better position to decide their own benefits...
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All these elements combined gave workers a sense of ownership in the company and motivated them to work harder as entrepreneurs rather than mere workers. It also helped that Lincoln's managers strove to build a sense of trust with the workforce thereby reducing the need to form unions as well as enhancing their willingness to abide by company policies...
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