Organizational Culture Of The Lincoln Electric Company

The Culture of a Company, or the Organizational Culture like it is mentioned in Principles of Management, has gotten a new dimension for me in terms of importance to assure the success of a company. This Organizational Culture is based on a series of values that are defined and established by the founder of a company for instance, which has a deep relation with his ethics and moral values. Therefore, the first factor to outline would be what the culture of a company shows, that can describe already how their managers behave and think. Managers with good intentions will place their workers ahead of profits, image or technology. The Lincoln Electric Company is a good example of that. In this welding manufacturing company, there were†¦show more content†¦Empowerment, which according to WordReference means to give official or legal power or authority to somebody, is one of the actions that the company took in its early stages. If we analyze the Three Levels of Organizational Cu lture, I will place this empowerment on the second level, the level of the Values. It shows that the company cares about what their employees think and how are they feeling. Instead of continuing designing the Organizational Culture of The Lincoln Electric Company by taking desitions that would only involved managements, they decided to listen to their people. This early action ‘was to ask the employees to elect representatives to a committee that would advise him on company operations.’ It might seem surprising, but this meeting has been happening twice a month since then. This is another example that shows how a strong company culture is settled. It is not always about the money and privileges, but also about being a person and having an opinion. I believe that humans feel better when they are proud of what they do and when they have a voice to raise and change something with it. There have to be actions, that are tangible to the people, in order to achieve the third level of organizational culture. Organizational Culture Of The Lincoln Electric Company Introduction The Lincoln Electric Company is the world’s largest manufacturer of welding machines and electrons. Lincoln employs 2,400 workers in two U.S. factories near Cleveland, OH and approximately 600 in three factories located in other countries. (The Lincoln Electric Company p. 1.) The main focus of this paper is to analyze the organizational culture of this company, by doing so, I will point out the different features, the rules and norms, beliefs and philosophies and the systems implemented by the management team through the processes of communication among employees, stockholders, providers, costumers, etc. and other processes like production and commercialization that are essential to produce the best products at a low cost, put them in the best market and obtain the best results for the company. To better analyze and understand the organizational culture of this company I will implement the subjects learned in chapter 8 of unit 3, which are, Organizational Culture Elements p. 102-203. To start with, I would like to mention some of the aspects that the company implemented in favor of the organization and its employees: They ask employees to elect representatives to a committee that would advise management on company’s operations. Lincoln Electric Company’s Organizational Culture Analysis 3 Reduced employees hours from 55 to 50 a week. The company gave employees a paid-up life insurance policy, a welding schoolShow MoreRelatedOrganizational Culture Of The Lincoln Electric Company1107 Words   |  5 PagesThe Culture of a Company, or the Organizational Culture like it is mentioned in Principles of Management, has gotten a new dimension for me in terms of importance to assure the success of a company. This Organizational Culture is based on a series of values that are defined and established by the founder of a company for instance, which has a deep relation with his ethics and moral values. Therefore, the first factor to outline would be what the culture of a company shows, that can describe alreadyRead MoreThe Organizational Culture Of The Lincoln Electric Company1035 Words   |  5 Pagesthe story of Lincoln Electric Company I’ve come to the Conclusion that their organizational culture they practicing is People-oriented culture. Because the company values fairness, supportiveness and they respect individu al rights. There is a greater emphasis on expectation of treating people with respect and dignity. All the founders of the company had a great deal of continues influence on the positioning of the company today, form John C. Lincoln to James F. Lincoln. John C. Lincoln started itRead MoreOrganizational Culture At Lincoln Electric Company Essay957 Words   |  4 PagesOrganizational Culture at Lincoln Electric The Lincoln Electric Company, a manufacturer of welding equipment and supplies, was founded in 1895 by John C. Lincoln as a manufacturer of electric motors. In the early years of the 20th century, James F. Lincoln joined his brother’s company and by 1914 replaced John as the company head, allowing the latter to concentrate his efforts on scientific investigations. In those early years, James F. Lincoln implemented a number of programs and initiatives withRead MoreThe Organizational Culture Of The Lincoln Electric Company1016 Words   |  5 PagesThe Organizational Culture of the Lincoln Electric Company The Lincoln Electric Company is one of the largest manufacturers of welding machines and electrodes in the world. With about 2,400 employees in the USA and near 600 workers in other countries. The Lincoln management plan is well known for accomplishing the highest worker productivity. His founder Mr. James F. Lincoln died in 1965, leaving a profitable and reliable company. As a president of the business, he invigorated a committee that wasRead MoreThe Impact Of Organizational Culture On The Lincoln Electric Company892 Words   |  4 PagesThrough my reading about LINCOLN ELECTRIC COMPANY I can see that organizational culture played an important important role in success of this company. All main elements that form Oranizational culture represented in THE LINCOLN ELECTRIC COMPANY, that what made this company prospered and thrived in its activity through the applying The P-O-L-C Framework effectively. I can discern the aspects of influence of oraganizational culture in manging this co mpany towards higher levels in output through theRead MoreOrganizational Culture And The Lincoln Electric Company1212 Words   |  5 PagesORGANISATIONAL CULTURE AND THE LINCOLN ELECTRIC COMPANY The success of a business is intimately tied to the success of its culture. To understand better how organisational culture is created and maintained we will examine one of America’s most successfully managed companies, the Lincoln Electric company. We will examine many aspects of the company that contribute to its culture, such as the influence of the company’s founders, the golden rule, the incentive management plan, the performance appraisalRead MoreOrganizational Culture And The Lincoln Electric Company1303 Words   |  6 PagesORGANISATIONAL CULTURE AND THE LINCOLN ELECTRIC COMPANY The success of a business is intimately tied to the success of its culture. To understand better how organisational culture is created and maintained we will examine one of America’s most successfully managed companies, the Lincoln Electric company. We will examine many aspects of the company that contribute to its culture, such as the influence of the company’s founders, the golden rule, the incentive management plan, the performance appraisalRead MoreAnalysis Of Lincoln Electric Company Of Cleveland Ohio Usa S Organizational Culture877 Words   |  4 PagesLincoln Electric Company of Cleveland Ohio USA`s organizational Culture is exceptional and has earned it the acolade of being the best managed manufacturing company in the whole world. I will explore and attempt to identify culture aspects of Lincoln Electric from several issues such as; the continuing influence of founders of the company, the golden rule, the incentive management plan,the performance appraisal system, how people communicate in the organization, the merit pay plan, the bonus planRead MoreThe Legacy Of The Lincoln Electric Company Essay718 Words   |  3 PagesThe Lincoln Electric Company proves that the right mix of â€Å"organizational culture styles† can achieve profitable business growth over the long haul. The continuing influence, employee benefits/incentives, and management styles initiated by company founder John C. Lincoln and James F. Lincoln have built a profitable business for shareholders and employees alike. Let’s, look at Mr. Author Sharplins Harvard Case study and The Lincoln Electric Company webpage to further delineate the styles of organizationalRead MoreLincoln Electric Company s Impact On Corporate Culture905 Words   |  4 Pagesvalue†; as found within Lincoln Electrics’ Vision Statement (Lincoln Electric 1999-2016). The beliefs and values transferred from company founders and instilled into employees can have an overwhelming impact on corporate culture. By establishing a positive corporate culture one can influence exceptional company performance. This is clearly demonstrated by Lincoln Electric Company, from its early days until its present day. I will present how the Lincoln Electric Company has done just that! Before

Inventory Proposal - 1583 Words

Inventory Proposal QRB/501 May 13, 2013 Inventory Proposal Draft Part of a business’s ability to become successful depends on the business’s ability to properly inventory merchandise needed in its operations. An organization inventory includes ordering, storing, and managing supplies needed to help the organization function efficiently. Improperly managing an organizations inventory can affect the organization profit, loss, and ability to operate. Rafferty’s Restaurant is an organization in which team C will research its inventory system. Team C will describe the Rafferty’s organization, inventory problems it faces, and expected benefits motivating†¦show more content†¦The benefits that come alongside having available inventory are increased profits, decreased losses, larger customer base, and growth, and expansion. Increased Profits and Customers By implementing a solution to help maintain available inventory for both the catering side of the business as well as the bar and grill, Rafferty’s will be able to serve more food to more customers. The more customers who are served, increases the chances to increase profits. It also allows all customers to order what they want without told that the item is unavailable since the kitchen ran out. Shortage or over preparation occurs almost every weekend due to the restaurant inability to accurately determine how many guests will visit the restaurant. The restaurant may show a slow day the previous year due to a holiday or a local event. However, the weather, cancellation of an event, or simple decision of where a guest wants to dine can affect the shortage or over preparing of food. By implementing a solution customer satisfaction will be at an all time high and word of mouth will continue to spread, expanding the already existing customer base and making the customers more likely to return to Rafferty’s. In time with enough customers and demand, Rafferty’s can further expand into other regio ns successfully. LossShow MoreRelatedInventory Proposal1254 Words   |  6 PagesInventory Proposal Learning Team C was tasked with preparing a project proposal that would analyze and present data on an inventory management problem that Amazon Incorporated (Amazon) could face. The Summer Historical Inventory Data shown below was used in the calculations: Month Year 1 Year 2 Year 3 Year 4 1 18,000 45,100 59,800 35,500 2 19,800 46,530 30,740 51,250 3 15,700 22,100 47,800 34,400 4 53,600 41,350 73,890 68,000 5 83,200 46,000 60,200 68,100 6 72,900 41,800 55,200 61,100 7Read MoreProject Proposal For Improving Inventory Management Essay3084 Words   |  13 Pages Industry Project Research Proposal What methods are most effective to decrease cost in material management with reference to JA Russell. (Warehousing and inventory management) Academic Leader Mr. Harry Touzel Project proposal prepared by JAI SINGH BHURJI Contents Introduction and Background 2 Statement of issue with the organization. 2 Research Question and Aims 2 Aims and objectives 2 Literature overview 2 WarehousingRead MoreVending Machine Inventory Control System Proposal2490 Words   |  10 PagesMachine Inventory Control System Proposal CIS/319: University of Phoenix April 2, 2008 Vending Machine Inventory Control System Proposal The ever rapidly advancing technology of this day and age causes many changes throughout the world. Businesses are no exception; the introduction of new technology within a company effects numerous departments. The purpose of our business is to discover ways of saving our company money, time and resources. By implementing a Vending Machine Inventory ControlRead MoreDesign a Proposal for Appropriate Controls to Cover Cash, Sales, Accounts Receivable, Inventory, and Production.1536 Words   |  7 Pagesbusinesses need effective controls to ensure that the business has the lowest risk rate possible. The lower the risk, the less likely that fraud would occur. In this analysis, Learning Team B will provide a proposal for appropriate controls to cover cash, sales, accounts receivable, inventory, and production. The team will discuss some prevention techniques to reduce these risks and make recommendations in areas that will help controls within the organization. Cash Controls Internal controls forRead MoreBilling and Inventory System Thesis Proposal5411 Words   |  22 Pagesstored in filling cabinets and this consumes a lot of space.   Inventory  is the total amount of goods or materials contained in a store or factory at any given time. The staffs need to know the precise number of items on their shelves and storage areas in order to place orders or control losses. They need also to know how many units of their products are available for patient’s reservation. All of these businesses rely on an inventory system  to provide answers. The  billing  system  should provide serviceRead MoreBaldwin Bicycle Company: Background of the Study784 Words   |  4 Pagesvalue bicycle, sold at retail prices under BBC’s normal product lines. Statement of the problem: What is the overall impact to the company if BBC will accept the proposal in terms of? a.) PROFIT b.) RETURN ON SALES c.) RETURN ON ASSETS d.) RETURN ON EQUITY Objectives: 1. To be able to show and analyze the proposal depending on the result which will be used to serve as a basis for making decisions. 2. To determine the total relevant cost in producing additional orders for Hi-ValuRead MoreDe Havilland Inc. Case Report Essays1463 Words   |  6 PagesDe Havilland Inc. Case Report Date of submission: February 2, 2010 Executive Summary: Marton’s suitability as a Vendor for De Havilland must first prove that its proposal is realistic in price and does not lack any important elements to efficiently supply the flap shrouds and equipment bay doors to De Havilland. Once that is clarified, De Havilland must ensure that Marton’s is a viable entity that can perform its duties on a long term basis, provide the necessary warranties and guaranteesRead MoreSpinnaker Case Writeup643 Words   |  3 Pageshomes Distribution: technology keeps changing, therefore these large retailers/Spinnaker could be left with lots of unsold inventory Manufacturing: could face hiring issues because most are Portuguese immigrants, do not speak english, could cause conflicts in understanding objectives/cultural issues affecting manufacturing Financial: unpredictability if the proposals or third party development business will take off, where they will get the resources Has Spinnaker’s strategy beenRead MoreThe Stages in the Organizational Buying Process1471 Words   |  6 Pagespurchase decisions. In contrast, many purchases result from virtually ‘automatic’ need recognition associated with running low on operating supplies, parts, or materials. Many vendors will monitor their customers’ inventories and automatically ship additional supplies when inventories reach critical points. Such arrangements are consistent with trends toward systems contracting in which buyers contract with a single vendor to provide for all of its MRO requirements. Clearly, this scenario is moreRead MorePotential Location For E Commerce Sales1136 Words   |  5 Pageswarehouse/manufacturing business for e-commerce sales. There will be little to no walk ins. A4P will provide printing services to businesses needed their proposals converted to the European size of paper, the A4. A4P will also have an online store for print production shops who need access to materials in the A4 size for their own, personal proposals. This company is more than needed in the market. There is a monopoly on the business and the markup is astronomical. A4P will easily be able to slide into

Salvation by Langston Hughs Essay Example For Students

Salvation by Langston Hughs Essay In the reading Salvation by Langston Hughs, there are many different underlying themes. There is the thought that even though it may be safer to be non-confrontational, it is not always the best approach. The adults wanting the children to be saved, portrays this. Being â€Å"saved†, involves an inner peace that results in a faith in a higher power. People go along with the crowd, not being sure why. At the start of the story the churchgoers are trying to have the young children find Jesus, because they have sinned. The churchgoers are very enthusiastic about the children being saved. They intimidate the children into following the crowd. The last two children sitting on the bench are very confused about what is exactly supposed to be happening. They think that they will actually see Jesus, Still I kept waiting to see Jesus. The one boy decides to stand up anyway. Then finally when the last boy cannot handle the pressure anymore, he stands up and finds Jesus. Later that night, he is the very upset with himself. The reason for him being distressed is due to the fact that he has just lied to himself, the rest of his family and the congregation by following something he does not actually understand. Lying itself, whether it be to yourself or anyone else, is a sin. He does not seem to realize that he has sinned in front of the congregation, and has completely contradicted the whole point of being saved from your sins. Though he lied about seeing Jesus, he was never repremanded. He has now become under the impression that he will not get into trouble about lying, because nothing has happened to him. He ends up losing his innocence in the same form in which it was supposed to be given. It is important to Langston Hughes that he be saved. It is portrayed by his aunt and the fellow churchgoers that in order to live a life of innocence and purity, you must be saved. The only way Hughes can find to fit in, is if he conforms. He wants nothing more than to live a life of truth, though he does not know where to begin his search. Hughes is ignorant in his decision making because he does not know his choices. Therefore, he conforms to norms of a religious society. When people follow the crowd, it is not always in their best interest. The little boy ended up being very upset by the outcome of the sermon and has probably never forgot what had happened. When people give in to the interests of others, they end up hurting themselves. The boy should not have stood up at the end of the sermon, because he didn t believe that he was actually being saved. In the long run being your own person, with your own set of values and beliefs, is the best possible route to keeping your innocence and self-perspective. By giving into outer influences, you end up sacrificing your truths in life. Once you give up that belief, it is hard to believe in anything else. There is always a good solid background to form off of and this little boy just lost his footing. By not defending his own beliefs, he ended up hurting himself and others. He ended up conforming and giving into the crowd.

Corporate Finance Hong Kong Corporation

Question: Describe about the Corporate Finance for Hong Kong Corporation. Answer: 1(a): In this case, Mark and Nick set up a company. Both of them are ready to invest 1000 Honk Kong Dollars in the company. Mark paid cash to the company whereas Nick does not have sufficient cash to pay. First Mark invests his money in the company and then company gives the cash to the Nick. Following are the entries of balance sheet[1]: Balance Sheet as at . (In Hong Kong Dollars) Non- Current Assets Loan to Nick 1000 Current Assets Cash and cash equivalents 1000 Current Liabilities 0 Net Current Assets 2000 Current Liabilities 0 Total assets less current liabilities 2000 Equity Share capital 2000 Reserves 0 Total Equity 2000 (b) According to creditors of the company liquidated position of the company is weak because of loan granted by the company to the member. Company does not have enough cash because the company already gives a loan of 1000pounds to the Nick who is the member of the company. Insufficient cash creates an obstacle in day to day business of the company. 2: Constitution of the company and other sources describe the responsibilities and duties of directors towards the company. If a person does not fulfill his duties towards the company, then such person is liable for civil and criminal proceedings and disqualified from the position of the director of the company. Following are the general principles of the directors duties[2]: It is the duty of the director that director act in the interest of the company. In other words, director owns a duty of care towards the shareholders of the company. Directors must do all the acts which are in the interest of the company. It is a duty of the director that they use their powers for the benefit of the members and the company. In other words, director must not use his power for some other purpose or for his own personal benefit. If it is found that directors use his power for the benefit of his own or for some other purpose then effects of his decision can be set aside. This duty of director can be breached even in case when director acted in good faith[3]. Directors must not delegate his powers to some other person and he must take independent and informed decision in relation to any matter. It is the duty of the directors of the company that they exercise their duties with care, skill and diligence. In other words: It is expected from the director of the company that they have general knowledge, skill and experience to act as a director of the company. In this case Supastore plc has taken over the management of Luckless Ltd, a department store situated in London. Kevin, the former managing director of the company regularly purchase the material from the store of his old friend, despite of the fact that he could get better deals from other stores. He is in the impression that his friend gives him the best deals. In this case Kevin does not fulfill his duties towards the company with care and diligence. As mentioned above it is a duty of the director that he exercises his powers only in interest of the company and not for any other purpose. This duty is breached even director acted in good faith. On other side Jane, the director of Luckless Ltd, appointed the Luke for the appointment of staff in store. Jane was not aware of the fact that Luke involve in criminal conduct for dishonesty and Luke appointed his friends who stole the material from store and bribe the Luke. In this case director does not take informed decision and does not exercise their duty with care and diligence. 3: Tools like separate legal entity and limited liability are very important for the company. These two tools separate the company from other forms of business. A new and separate legal entity is comes into existence from the incorporation of the company. Company is an artificial entity. It has separate identity from the persons who take steps to incorpoate the company and from the members of the company. Company is not a natural person and provisions of Act defines the acts which company can or cannot do, the 2006 Act states[4]: According to Section 16(1)(2)(3)[5] of the act says from the day on which certificate of incorporation is received , all the persons who become subscribers of the company and members of the company are considered as body corporate by the name mention in certificate of incorporation. Ownership of company is separated from the investors of the company. Earlier business was run either by the sole traders or partnership firms. In these forms of business individuals alone own the assets of their business and they are personally liable for the debt of the company. There are the drawbacks of sole trader and partnership: Owners of these forms of business are personally liable towards the creditors of the company. Owners have unlimited liability Investors do not invest their capitals in the business in which they are personally liable. Separate legal entity is a tool which safeguards the investors of the company. Members of the company are not personally liable towards the creditors of the company. Creditors can sue the company for their debts not the members or directors of the company. As stated above the owner of other forms of business is personally liable for all the debts of the business. Concept of limited liability was introduced to safeguard the investors from unlimited liability of the company. According to this term members of the company are liable for only that amount which they have invested in the company. Section 74(2)(d)[6] of Insolvency Act 1986 states that member is liable towards the company limited by shares only up to that amount which is unpaid on the shares of the company. In other words if the shares of the company are fully paid then members of the company has no liability towards the debts of the companies, and if shares are not fully paid then members are liable up to the amount of unpaid shares. References: Companies Registry, ' A Guide On Directors Duties', https://www.cr.gov.hk/en/publications/docs/director_guide-e.pdf, (accessed 14 September 2016). Companies Registry, Part 16 Non-Hong Kong Companies Division 1 Preliminary, https://www.cr.gov.hk/en/companies_ordinance/docs/part16-e.pdf, (accessed 14 September 2016). Hawksford, Hong Kong Corporation A Guide for First Time Entrepreneurs, https://www.guidemehongkong.com/incorporation/topics/hong-kong-corporation-entrepreneurs-guide, (accessed 14 September 2016). Insolvency Act 1986 s74 Legal Aspects of Corporate Finance, Unit 1 Incorporation and the Corporate Constitution, P 1-34. Nelson, L. C. Y. Stephanie, M. Y. W., ' sample financial statements 2013/14',2014,https://www.nelsoncpa.com.hk/slidepdf/sfs-20140317.pdf, (accessed 14 September 2016).