Lincoln Electric Case Study Example | Topics and Well Written Essays - 1000 words

Lincoln Electric - Case Study Example As the discussion stresses  one of the major contributing factors towards the success of Lincoln Electric is its flexibility. The company does not believe in maintaining an official organization chart in order to offer high flexibility. The company’s easy and less complicated policy support s employees to go to anyone whom they think to be proficient enough in providing solutions to their problems offering a flexible organizational structure. Flexibility is considered to be an important factor for the success of any organization. Employees or workers should be given enough flexibility to work according to their own ways and convenience in order to be productive ensuring the superiority of the end products.This paper highlights that  an easy and less complex policy would remove the barriers among the workers and the executives and would facilitate smooth communication. Communication is quite important in organizations so that the problems can be communicated to the concerne d person and measures can be immediately taken to find a solution without largely hampering the manufacturing functions.  The company does not have any special policies or perks for the executives which promotes a sense of equality among the employees and in turn encourages a sense of responsibility in them.  The company handed over the control of management to various teams which facilitate them with the right to take decisions when necessary. This ensures a smooth flow of work, as employees need not wait for others to take decisions and then having to act accordingly. This triggers in them a sense of responsibility to perform better (Willcoxson, 2011). Another important factor is that employees are entitled to profit sharing as well as stock options based on individual as well as team performance (McGee & Et. Al., 2006). Employees are influenced to bring forward innovative ideas by the management which would enhance their productivity. The company constantly invests on trainin g as well as educating the employees to make certain effectual contributions towards business performance. The responsibilities given to the employees are also considered as significant factor. They include pay cuts and penalties in case of absenteeism which instill a sense of responsibility, the workers related to production needs to provide assurance regarding the quality of individual piece produced by them or else no payment is made against it and finally there are only few supervisors owing to which team work is promoted without any detailed supervision. Thus, the above mentioned factors can be considered as the major contributing factors for the company’s superior performance (Lussier, 2008). Understanding of the Factors Responsible for High Performance The high performance of Lincoln Electric is reliant on many external as well as internal factors. Flexibility, communication, incentive structure, policies, sense of equality and responsibility are the most important contributing