Harvard Study Case Study: The Lincoln Electric Company

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The Lincoln Electric Company After taking the chance to read the Lincoln Electric Company Harvard study case, it is interesting how they viewed taking care of their employees throughout multiple decades, while business today focuses more on outcome-oriented cultures, where employees tend to not have that many benefits, or any benefits at all. The Lincoln Electric Company started poor, but as they took excellent care of their employees, they flourished into a successful entity in the world of business in America. With the enactment of a variety of programs such as health benefits, annual bonuses, paid vacation and a suggestion system that paid workers for great ideas, it is clear that their team-oriented system has paid off in the long run and kept their turnover rate at an all-time low. Another fascinating aspect of James Lincoln and his perception of business is how he treated his customers. As mentioned by him, “the customer's interests, not the stockholder's, should come first” (1, Harvard). In today's market, shareholder's are the main concern of companies. Businesses today may talk about how important the consumer is, but the shareholder always dictates how the company is ran and it's future path. James Lincoln saw past the greed and utilized his Christian values as a basis of morality. Even Lincoln said it himself when he downplayed the…show more content…
That mentality still stands strong today in the technology industry where the stereotypical ranking of companies is pretty much nonexistent or presented in a more lenient way. James Lincoln was also a strong believer in treating his employees in a way that values them almost as much as the customer. He didn't believe that hard workers should be treated unfairly, but instead, stood with them and made sure that they and their families for financially secure for their hard
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