John C. Lincoln Electric Company

727 WordsSep 29, 20143 Pages
John C. Lincoln founded The Lincoln Electric Company in 1895. James F. Lincoln, John’s younger brother join the company and subsequently became general manager and vice president in 1914. One of James early actions was to have a committee that would advise him on company operations. Employees was asked to elect representatives to the committee. They met twice monthly with the executive officer ever since. A welding school was formed in 1917 and still continues today. In 1918 an employee bonus plan was initiated then discontinued. It returned later on however. In 1934 the bonus plan was purposed by the advisory board, their has been a bonus every year since then. In 1919 the Lincoln Electric Employees Association was formed providing health benefits and social activities. This has continued today with added functions. The board of directors started a suggestion system that is still in effect today. At least since 1935 Lincoln productivity has been well above the average productivity vs. similar companies. The golden rule at Lincoln Electric is to put customers first. One of the ways to do this “To build a better and better product at a lower and lower price” -James Lincoln. In it 's history, there have been price decreases such as the most popular welding electrode decreasing from 16 cents a pound in 1929 to 4.7 cents a pound in 1938. From 1958 to 1965, Lincoln largest selling portable machine (SA 200 Welder) decreased in price. Welding machines and welding electrodes
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