hw4 - Yang 1 Yang, Yun-Yeol yyang22 03/10/2011 HW#4 1. a)...

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Yang 1 Yang, Yun-Yeol yyang22 03/10/2011 HW#4 1. a) On a graph of net income, they developed its income to 15 million dollars at increasing rate from 1935 to 1974. Also, the level of sales reached it point of 240 million dollars by the year of 1974. b) Incentive system – employees were rewarded for their productivity, high quality, cost reduction ideas and individual contribution to company. Competition – competition was able to get rid of the lazy and incompetent and it determined who will be the leader. As it is based on the strategy of winner and loser, everyone was able to keep up their works and put more effort. Equality – They tried to avoid barrier between managements and workers. Everyone was treated equally as much as possible. 2. a) It was important that everyone was in competitive position. At the same time, Lincoln Electrics complemented Guaranteed Continuous Employment plan that provided security against layoffs. Every full time employee of two years of work was guaranteed 75% of the
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This note was uploaded on 06/13/2011 for the course ECON 440 taught by Professor Staff during the Fall '08 term at University of Illinois, Urbana Champaign.

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hw4 - Yang 1 Yang, Yun-Yeol yyang22 03/10/2011 HW#4 1. a)...

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