Lincoln Electric Company Historic Sketch Term Paper

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The economic realities of globalization goes beyond just the affects of direct competition for Lincoln. Globalization has significantly affected Lincoln's customers as well increasing their need to continuously improve competitiveness. For this reason, even small improvements on cost efficiency or quality can equate to big profits for customers. In fact, Lincoln's mission is centered on providing the most innovative, cost-effective, quality welding and cutting solutions to their company ("Corporate").Lincoln has capitalized on this with producing one of the few technologically differentiated products in the marketplace.

Another important social trend affecting the company is unionization. In it's long history, Lincoln has never felt the effects of unionization. Much of this is due to management's continued belief from early on that management and employees were an intrinsically intertwined team. Currently, the average employee earns nearly twice as much as other Cleveland area factory workers.

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However, despite this significant difference in payroll costs, the company's labor cost per sales dollar is well below industry average. Practically non-existent turnover coupled with exceptional productivity has been the key to Lincoln's success, in this area.

In the end, Lincoln has a successful track record more than a century long.

They control a considerable share of their primary industry due to their ability to effectively and efficiently operate within their environment.

Lincoln has been able to benefit from the environment they must operate in, taking advantage of both social trends and economic trends......

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"Lincoln Electric Company Historic Sketch" (2007, October 11) Retrieved May 16, 2025, from
https://www.aceyourpaper.com/essays/lincoln-electric-company-historic-sketch-35239

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"Lincoln Electric Company Historic Sketch" 11 October 2007. Web.16 May. 2025. <
https://www.aceyourpaper.com/essays/lincoln-electric-company-historic-sketch-35239>

Latest Chicago Format (16th edition)

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"Lincoln Electric Company Historic Sketch", 11 October 2007, Accessed.16 May. 2025,
https://www.aceyourpaper.com/essays/lincoln-electric-company-historic-sketch-35239
   

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