Lincoln Electric Company Case - Lincoln Electric Company...

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Lincoln Electric CompanyMcKenzie StantonACC 6003 Spring 2016Background Lincoln Electric’s vision, missions and values come directly from their founders John C. Lincoln and James F. Lincoln. When the company was founded in 1895 they strived for new innovation solutions while being loyal to his customers, employees and shareholders. Question 1 How would you describe Lincoln's approach to the organization and motivation of their employees?To motivate Lincoln’s employees, the company implemented a special incentive system which distributed remaining profits inside the firm. This system’s components included: piecework, annual bonus and guaranteed employment. The piecework element was beneficial, because all of the employees had to ensure their own quality and there was no limit about how much one could maximum earn by working faster and harder. The annual bonus element was also very important since the employees were awarded in accordance to their contribution to the

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