Lincoln Electric Case Study Essay

Lincoln Electric Case Study Essay-74
In addition, there are short power distances between laborers and managers (common cafeteria, no reserved parking, managers work long shifts, etc.) As a result, employees feel that they are being treated fairly.[Portrait of Dizzy Gillespie, Downbeat, New York, N. Licensed under No known copyright restrictions" data-lightbox="media-gallery-1567832704"*Expectancy: wages based on piecework and an annual bonus gives the average worker the possibility to increase total compensation.

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An advantage of a joint venture is that it will allow LECO to experiment with the incentives program on a smaller scale before full implementation.

According to feedback from local sources it seems that the incentives will have to move in the direction of more valued, indirect, compensation.

It would also be beneficial to partner with SSHJ because, as a foreign subsidiary, they have faced many of the same challenges common to LECO.

Through the ventures, LECO will be able to draw on local expertise to better understand the labor market, develop relationships with government and other local businesses and eliminate some of the labor issues that often occur when producing in developing countries.

Many overseas managers had no desire to increase sales, and workers were found sleeping on benches because not enough work was available.

The European labor culture was hostile to the piecework and bonus control system. According to expectancy theory, employees are motivated by the belief that they can expect to achieve certain desired rewards by working hard to attain them.*Instrumentality: Rewards are explicitly linked to a measurable performance.*Positive Valence: employees value the rewards that are offered to them for desirable behaviors. There were many factors that contributed to LECO's failed attempt at internationalization.It is evident that Willis ignored a variety of cultural and macroeconomic effects related to his plan.At this point, it makes the most sense to penetrate Asian markets through a joint venture with both Tira and SSHJ.LECO must capture the advantage both partnerships; Tira would be a valuable partner because it is an Indonesian firm with invaluable connections/customers.Most notably, the productivity of the labor force and the efficiency of operations have generated a competitive advantage over the market.Existing and potential competitors are not able to produce at the same low costs and subsequently are not able to offer competitive prices to the market, thus increasing LECO's market share.The high levels of productivity common to LECO employees can be attributed to motivation and job satisfaction:*Guaranteed employment: no lay offs since 1948, instead LECO rotates through co.(skill variety).*Equity: employees earn comparable, sometimes higher, wages than other manufacturing companies.Relying on greed as the basis for motivation may be appropriate in western business environments, but it is far from a universal application.Gillespie must first understand the workforce enough to determine what motivates them and this requires experience LECO does not yet have.

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