Thursday, February 6, 2020

Busniess in China Research Paper Example | Topics and Well Written Essays - 1500 words

Busniess in China - Research Paper Example By 2009 it was holding the largest foreign currency reserves amounting to $2 trillion and was also the largest holder of US treasury bonds (Tse, 2009). It has also become a world leader in international trade with import export forming 60% of its GDP (Tse, 2009). 1.3 billion Population of the country represents a huge market potential which no company can afford to ignore. Economy Based on the development level, the country is divided into three economic regions which are eastern, middle and western regions (Ma and Li, 2004). Eastern region is most advanced with good infrastructure, advanced cities, good management and administration (Ma and Li, 2004). Special economic zones have been setup by the government in this region to provide better development opportunities. The middle region is not as well developed as the Eastern. However, it has well developed industry and is the main region which produces grain, edible oils and cotton (Ma and Li, 2004). The Western region is still underd eveloped but has huge development potential for trade because it is the passage to other countries (Ma and Li 2004). Industry forms 46.8% of the GDP and industrial production growth rate stood at 11% as per 2010 estimates (cia.gov, 2011). Culture Because of the country’s socialist background, its culture is highly influenced by this ideology. The Chinese put a great emphasis on relationships than transactions and power distance in an organization (secureonlineorder.net, n. d). The Confucian philosophy which they follow focuses on collectivism rather than individualism. They believe in what they call â€Å"Guanxi† that refers to a â€Å"network of relationships among groups that cooperate and support one another† (secureonlineorder.net, n. d). This is considered as legally valid and not bribery and is indicative of personal closeness through exchanging of gifts and frequent contacts with retailers, suppliers, local government officials and banks. Chinese are not too keen to focus on detail and technical expertise with their leader’s autocratic behavior being accepted in return for security and harmony. Their communication is also less verbal and more through body language. They are never direct at saying â€Å"no† to things and rather express it through facial expressions and other roundabout ways (legacee.com, n. d). They feel that business relationships are the foundation of businesses and not any written agreements. Language problem is a barrier to exchange of ideas with the western organizations. Analysis of findings Facility location After having analyzed the economy and culture of China we need to first look at the location of the new facility. As seen earlier, Eastern China is the most developed area hence; there would be stiff competition for resources there. The Western area is now the new focus area for the government hence the new facility should be located there. The region accounts for 71% of China’s total land area and 29% of China’s total population with ready availability of labor force (Tan, 2010). Facility cost here is 50% less than the Eastern region while warehousing, construction and office lease is as low as one third to three quarter of the cost (Reinhardt, 2005). Thus providing facilities to the employees like housing will not be a major issue with respect to cost or availability in any of the Western towns or cities. There will be some problems as infrastructure and communications network are not as well developed

Wednesday, January 29, 2020

Financial Control Auditing Essay Example for Free

Financial Control Auditing Essay If you use a computer to record your business activity and maintain this data electronically, you are a candidate for an electronic audit. * What are the Benefits of e-Auditing? †¢It saves time – Electronic audits are completed much faster than traditional, manual audits. Company personnel and tax auditors spend less time working on the audit. †¢It saves paper – Electronic tax auditing reduces the amount of paper normally needed during the audit. †¢It is less disruptive to business – Electronic audits permit tax auditors to work at the tax office most of the time. Computer-assisted tax audit techniques reduce on-site audit time. In this way, there is minimal interference with the normal business of your company. †¢It is more efficient – More efficient techniques for reviewing taxpayer information are used in electronic audits. * The process of e-Auditing? To corporate taxpayers: 1- The preparatory stage begins when a tax auditor contacts the company. 2- He then familiarizes himself with the accounting system of the company, and negotiates with company managers responsible for accounting and finance. 3- They make agreements on when and how the electronic material should be delivered to the tax authority, and what copies of files should be created for the purpose. The tax auditor receives the files and converts them into a special database format used by the Finnish Tax Administration. 5- Later, the chief auditor and the company management will discuss the time schedule of the on-site tax audit, i. e. the part of the tax examination that takes place on company premises. * What are the Auditor†™s Responsibilities towards e-Auditing? Our tax auditors have received special training on information technology; they are aware of information security considerations and work under strict rules of confidentiality. Their PC and laptop workstations are protected and secure. They store the original material in a locked cabinet, and they make sure that the work files created from the company-supplied electronic materials are removed from the computers immediately after the audit. Depending on what has been agreed, physical data media (CDs etc. ) will either be returned to the company or destroyed. After the tax authority has issued the assessment decision or tax debiting decision, any files saved in Tax Administration systems will be deleted. The company will receive a message confirming the deletion. The use of expert systems in e-Auditing As computer power is enhanced and auditors are faced with making decisions in more complex environments, some accounting firms have begun to develop expert systems to assist their personnel in the audit process, An expert system is a complex system of computer progams that models the decision process of a human experts. The psychological methods used to gain an understanding of the human experts decision process and conversion of this decision process into mathematical equations and computer programs are fair beyond the scope of this text. Legal Authority The right of the Finnish Tax Administration to receive computer files for the purposes of audit is based on the following tax laws:  § 14, Act on Assessment Procedure (1558/1995),  § 3, Ordinance on Assessment Procedure,  § 169, Value Added Tax Act (1501/1993),  § 10, VAT Ordinance, and  § 37, Prepayment Act (1118/1996). The Decision of 26 Jan 1998 (no 47/1998) of the Ministry of Trade and Industry concerns bookkeeping methods. The first section of this Decision concerns the use of computer automation in accounting. The Accounting Board has issued an official instruction on 22 May 2000 on the implementation of the provisions of the Decision. These instructions include more specific rules on the use of information technology in accounting. In the interest of expediency during tax audits, the Finnish Tax Administration urges corporate taxpayers to follow the recordkeeping rule of six years. In other words, full documentation showing each transaction separately including its entries in accounting records should be kept for six years after the closing of the accounting period. These records also include auxiliary documentation, and they are to be kept in a legible format. * Rules on recordkeeping and reproduction of data Companies are requested to keep the following files and details in a machine-sensible, software-independent format. They should cover the entire time periods to be audited: 1. Journal-type file of the accounting system listing each transaction separately , including the following detailed facts if applicable for the company: †¢Company number, business unit number †¢Document type Sequential number of the accounting voucher/document, which should be the same number as that of the original receipt, voucher or other document found in the books. †¢Date of accounting document / Date of transaction / Accounting period †¢Account number †¢Cost center number †¢Amount in euros (marks), amount in foreign currency, code of currency †¢Descriptions of accounting entries – several descriptions are accepted †¢ Project no, investment no, process no, product no etc. †¢Customer no, supplier no †¢VAT code †¢Any other data fields that help identify the transaction. . Additional files in case the names (of accounts or of cost centers) are not included in the accounting transactions files: †¢Chart of accounts showing every account used during the period, including account name and account number. †¢Lists of cost centers (and their numbers and names) used during various years. †¢Lists showing details of project numbers, investment numbers, process numbers, product numbers etc. used during various years †¢Lists showing VAT codes (with explanations) used during various years †¢Lists of accounting voucher types used Lists showing the sequences of sequential numbers used by the accounting system (can be delivered on paper instead of a computer file) †¢Registers of suppliers and registers of customers, as a computer file, including at least the following facts: ? Business IDs and European VAT numbers ?Customer no, supplier no ?Name ?Address ?Postal code ?Country code 3. Other details: †¢Specifications of records, descri bing each delivered file. †¢Detailed versions of balance sheet (showing each account separately) for the accounting periods to be audited. †¢Model list printed on paper, to show the eginning of the accounting transaction list file, in case numerical fields have been zipped / compressed. * What are the Permissible file types? The files should consist of fixed-length consecutive strings and be free of software-specific characters (and they should not be backup files). Accounting transactions and additional files such as charts of accounts and lists of cost centers should be delivered to us on a physical data medium, which is usually a CD or DVD. The following technical information is mandatory : * Encoding (ascii / ebcdic) Existence of zipped/compressed data elements (please unzip/uncompress) * Number of records * Length of records. If the company cannot deliver the accounting system files where transactions are primarily recorded, tax auditors can alternatively utilize repo rting files or list files. Accounting systems create reporting files and transaction lists associated with the general ledger and journal, accounts receivable and accounts payable What are the Pros and Cons of both manual and E-audit? (Conclusion) There are pros and cons to both the manual and electronic audits. The manual chart review is more time consuming and is subject to both the benefits and liabilities of requiring human judgment during the audit process. The electronic audit is much quicker, although it requires time and attention to careful set up before the first audit can be run. E-audits are independent of human judgment since determinations are made by internally programmed computer logic and are therefore more consistent than manual audits. Their accuracy is more subject to proper PCC documentation, coding and data entry issues. More and more facilities are opting to perform e-audits due to the time savings and ease of performing regular periodic audits once the initial setup has been completed. We encourage the use of electronic audits whenever feasible. For facilities wishing to transition from a manual to an electronic audit, it is imperative that they initially run simultaneous manual and e-audits to compare the results. In theory, the results from the manual and e-audit should be quite similar. If the results of one or more of the audit elements are significantly different, an investigation into the reason(s) for the difference needs to be undertaken.

Monday, January 20, 2020

World War Two and Its Impact on the Role of American Women in Society E

World War Two and Its Impact on the Role of American Women in Society World War II is an event that has marked history like no other. Originating from a European struggle, war broke out in 1939 and continued for six years. From the years 1939 through 1945 more than half the earth's surface was battling in war. American society was greatly affected. People of every age, race and class were deeply affected. Women's place in society took a leap forward like it never had before. As an effect of the second world war women's traditional roles in society were drastically altered. The 1940's brought innovative opportunities along with hardships to American society. After the Depression it looked as though there was no hope for the traditional role of women to be changing. Women had very few job opportunities, especially married women. In William Henry Chafe's book The American Woman, he explains: Legislative bodies enacted laws restricting the employment of married women. Labor, government, and the mass media all joined in a campaign urging females to refrain from taking jobs. And the overwhelming majority of average citizens--including women--showed little interest in modifying the existing distribution of sexual roles. (Chafe 135) The role of women in society was unchanging. It was quite remarkable how stable their role remained for so long (135). While still recovering from the Depression, Europe managed to mark the beginning of the biggest war in history. They first took over Norway, Denmark, the Netherlands, Belgium, and France. And after Pearl Harbor was bombed by the Japanese, the United States entered the war. The main transformation World War II made for women in American society was there were man... ...o work, keeping the economy going while the men were fighting the war. Other women joined the army and navy out in combat. Organizations that are still present to this day were founded, such as the American Red Cross Association, the Women's Army Corps (WAC), the Women Accepted for Volunteer Emergency Service (WAVES), and the Army Nurse Corps. Overall, World War II changed the role of American women for the better. It marked the beginning of an ongoing advancement of women's economic position in American society. Works Cited Brokaw, Tom.  The Greatest Generation.  New York: Random House, 2004. Print. Chafe, William H. The American Woman; Her Changing Social, Economic, and Political Roles, 1920- 1970. New York: Oxford UP, 1972. Print. Daniel, Robert L.  American Women in the 20th Century. The Festival of Life. San Diego: Harcourt Brace Jovanovich, 1987.

Sunday, January 12, 2020

Marketing Plan of Bentley Motors Limited Essay

Marketing Plan of Bentley Motors Limited 1. Executive Summary 2. Company Description Bentley Motors Limited is a British Manufacturer of automobiles, founded on the 18th of January 1919 by Walter Own Bentley. In the First World War, Bentley was known because of their rotary aero-engines. After the war Bentley designed and produced cars that won the Le Mans race in 1924, 1927, 1928, 1929 and 1930. Bentley presented Queen Elizabeth II with an official State Limousine to celebrate her Golden Jubilee in 2002. Bentley believes that it is a high end luxury car, which has tradition and ultimate class. Bentley follows a â€Å"high-price† strategy, and this Marketing Plan outline will show how Bentley improves their sales and continues to gain a share in the market. 3. Strategic Focus and Plan This section covers three aspects of corporate strategy that influence the marketing plan: (1) the mission, (2) goals, and (3) core competence/sustainable competitive advantage of Bentley Motors Limited. Mission Bentley Motors states that they don’t have a mission statement; but if they did, it would have been in the words of Walter Owen Bentley, â€Å"To build a good car, a fast car, the best in class†. The vision statement that Bentley Motors Limited follows is, â€Å"We are Bentley Motors – the definitive British luxury car company, dedicated to developing and crafting the world’s most desirable high performance cars. Goals 1. Have a larger market share. 2. Launch a Sports Utility Vehicle (SUV) in the United Kingdom in 2015. The model will be based on the Porsche Cayenne, and will be produced in the United Kingdom. The SUV will be priced around GBP 140,000. 3. Become more eco-friendly. 4. Increase sales to 1500 cars, by 2013. Core Competency and Sustainable Competitive Advantage In terms of core competency, Bentley Motors seeks to use their uniqueness to provide sophisticated and distinctive, high quality luxury cars and other products that appeal to its target customers. In order to use its core competency as a sustainable competitive advantage, Bentley will work with its customers and employees to strengthen the relationships and build bonds to satisfy the high tastes of its clientele. 4. Situation Analysis This situation analysis will show how Bentley is growing larger in the market. Globally Bentley sold just over 10,000 cars in 2007 – compared to 9,000 cars in 2006 and 1000 in 2003. SWOT Analysis Figure 1 shows some characteristics that might influence the market opportunities for Bentley Motors. The SWOT emphasizes the good choices made by the company. Positive internal factors are related to the board, the management growth, the intrinsic value of the brand associated with the high end luxury car. Favorable external factors include the increasing need of luxury goods in the environment. A note to consider is that the financial crisis of 2007 did not affect Bentley’s clientele. Regarding unfavorable factors, the main weakness is the limited growth in the market. Due to the outstanding care and attention given to the production of each Bentley car, the production is slowed down as each car is hand made. However this limited production is perfect for Bentley’s marketing plan. Figure 1: SWOT Analysis for Bentley Motors |Internal Factors |Strengths |Weaknesses | |Management |Excellent and specialized board |Owned by Volkswagen, therefore has to | | | |report to Volkswagen. | |Offerings |Unique, high-price and high-end luxury |Many other competitors like Mercedes, | | |cars. |Rolls-Royce, Ferrari and Maserati provide | | | |similar products. | |Marketing |The exclusivity of the Bentley Motors brand|As the targeted customers are exclusive, | | |is part of the marketing plan. |not many people are aware of the various | | | |services and products Bentley Motors | | | |provides. | |Personnel |Dedicated to personal development of |Their workers are so qualified that if one | | |employees, by improving their technical and|employee leaves they need to spend a lot of| | |business skills. |money to train and develop another | | | |employee. | |Finance |Excellent growth in sales, revenues from |To build one car it takes longer than most | | |2003 onwards. |of their competitors, therefore it takes | | | |time to generate revenue. | |Manufacturing |Sophisticated details, like workers |A typical mass produced luxury model can be| | |inspecting the leather for insect bites and|finished in 24 hours, but to make a | | |17 hides of leather are required to outfit |Mulsanne at the Crewe Factory it takes 9 | | |the cabin. |weeks. | |R&D |Continued efforts to ensure engineering and|Most of the competitors have good R&D | | |luxury details for cars.|departments as well. | |External Factors |Opportunities | Threats | |Consumers |Customers can customize parts of the product, |Due to the high price of the products, | | |such as requesting certain types of leather |Bentley has exclusive consumers and not| | |interiors. |many people go and buy a Bentley every | | | |so often. | |Competitive |There are a few brands that are that obsessed |Mercedes-Benz, Jaguar and BMW produce | | |with having unique luxury products. |similar products for a fraction of the | | | |price. | |Technological |Bentley recently hired Rolf Frech as its |Bentley’s competitors have various | | |Engineering Chief. Frech comes from Porsche AG. |engineering methods that can produce | | | |more efficient cars. | |Economic |During the financial crisis of 2007, Bentley’s |The targeted customers are a small | | |targeted customers were still purchasing cars. |share of the market. | | | | | |Legal/Regulatory |Cars with new clean energy (biofuel), ensuring |A new law passed, requires some | | |that the power and torque of the car are not |technological change that Bentley’s do | | |affected.|not have. | Industry Analysis Every human wants to differentiate themselves from one another. One way of doing so is by purchasing luxury goods. Therefore the market for such goods is bound to grow. In comparison to other high end luxury vehicles, Bentley is growing more than the others. Figure 2: Luxury car Market |Year Sales in U. S Market | |Brands |2011 |2010 |% Change | |Porsche |12,633 |12,592 |0. 3 | |Jaguar |9,315 |9,748 |-4. 4 | |Ferrari |1,266 |1,087 |16. 5 | |Maserati |1,706 |1,355 |25. 9 | |Bentley |1,260 |954 |32. 1 | |Rolls Royce |255 |387 |-34. 1 | Competitors in the Luxury Car Market As shown in figure 2 , the main competitors of Bentley are; Rolls Royce, Ferrari, Maserati and Porsche. Company Analysis Bentley is highly recognized for their luxury cars, but they also sell goods that reinforce the image of their brand, such as silver plated wheel spinners, cufflinks, set of espresso cups, driving apparel and luggage sets among a few. 5. Product Market Focus This section describes the marketing and product objectives for Bentley Motors and their target markets, points of difference and positioning. Marketing and Product Objectives Bentley Motors marketing is based on the effort to combine the strength and speed of a sport scar with the luxury of British elegance. These are combined in 3 areas listed below. 1. British Tradition 2. Manufacture 3. Luxury and Sport Target Markets The primary target market for Bentley cars are customers who are not self-conscious and are willing to show what they have earned, these are generally those in the highest 5% of the economy. These customers want premium quality products and services and are willing to pay for it. Points of difference. Bentley’s marketing is concentrated on the fact that they have the sophisticated British charm, mixed with the strength of a premium racing car. This is the main difference when compared to Rolls Royce, which looks at itself as a luxury car or with Ferrari that defines itself as a sports car. Positioning Bentley’s vehicles try hard to close the gap between a being a traditional British sophisticated luxury vehicle and sports car with strong masculine power, which is best shown with its 6 time success at Le Mans. 6. Marketing Program The 4 marketing mix elements used by Bentley Motors are detailed below. Product Strategy Bentley’s are handmade, custom designed cars. It takes roughly 150 hours to produce a Continental GT and 400 hours to build an Arnage. Steering wheels are double stitched by hand using 2 needles simultaneously. It takes 15 hours to create one steering wheel. These are a few features of Bentley’s to name a few. Price Strategy The 2011 Bentley Continental is priced at around $205,600, while the 2011 Maserati Gran Turismo is priced at an average of $125,000. Even though the Maserati is much less priced, the quality that Bentley holds is much greater. Promotion Strategy. Bentley avoids commercializing its products unlike Maserati, therefore making it more prestigious. Bentley places its advertisements in places where they expect their target market to see it, not in commercial places. Bentley also goes by word of mouth, where one satisfied customer passes on the good word to a friend. Distribution Strategy Bentley prides themselves on being represented in 212 Bentley facilities worldwide. With 24 offices in the UK, 38 in the USA, 52 in Europe, 15 in the Middle East and 15 in Asia and Australasia, among others. Therefore with 212 facilities worldwide, it is within arm’s reach – for those who can afford it.

Saturday, January 4, 2020

Strategic Management and Time-based Strategies - 1031 Words

Tricia Acosta BUM 4013 (01) Production and Operations Management Discussion and Review Questions 1.From time to time, various groups clamor for import restrictions or tariffs on foreign-produced goods, particularly automobiles. How might these be helpful? Harmful? It helps the country receiving tax monetarily, allows state to flourish internally, and more costly for exporters. 2. List the key ways that organizations compete. a. Product and service design b. Cost c. Location d. Quality e. Quick response f. Flexibility g. Inventory management h. Supply chain management i. Service j. Managers and workers 3. Explain the importance of identifying and differentiating order qualifiers and order winners. Order qualifiers†¦show more content†¦counterpart. What are some possible explanations for this, assuming that U.S. workers are as hardworking as Japanese workers? Low labor cost strategy: Immediately after the war, exploited the (then) inexpensive labor pool. Scale-based strategy: During the 1960s, used capital intensive methods to achieve higher labor productivity and lower unit costs. Focused factories strategy: During the 1970s, used smaller factories that focused on narrow product lines to take advantage of specialization and achieve higher quality. Flexible factories strategy: During the 1980s, reduced the time needed to incorporate new product and process designs. Used flexible equipment that allowed volume and design changes, as well as product variety. 12. Boeing’s strategy appears focus on its 777 midsize plane’s ability to fly into smaller, nonhub airports. Rival European Airbus’ strategy appears to focuses on large planes. Compare the advantages and disadvantages of these two strategies. Boeing 777: Flew from Sydney to London without refueling. (adv) The family of airplanes distinguished by its fuel-efficiency, spacious cabin interior, range capability, commonality and reliability. New design and testing initiatives helped ensure the highest possible levels of reliability. (dis) most notably that headwinds would make it difficult for the plane to fly Sydney-London without stopping. Airbus 380: (adv) The main advantage is that it can shipShow MoreRelatedThe Objectives Of Strategic Management Essay1055 Words   |  5 Pages A strategy is a plan of action designed to achieve a specific goal or series of goals within an organizational framework. Management is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively (Rumelt, 2011). Since organizations can be viewed as systems, management can also be defined as human action, including design, to facilitate the production of useful outcomes from a system. 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Friday, December 27, 2019

Harrah’s Entertainment, Inc - 1216 Words

Executive Summary Harrah’s Entertainment, Inc. has been a pioneer in the casino industry by becoming the first company to become publicly trade in the stock market. Also, they have set themselves apart from competitors with their approach to customer service and building lasting relationships. These differentiations from competitors lead them to highly invest on information technology to track customer’s trends and habits. This paper analyses how the Harrah’s benefits from their unique approach to information technology, but at the same time points out how other aspects of the business have been disregarded or they need to be improved. Issues such as, infrastructure compared to competitors, the fact that due to the investment on†¦show more content†¦Another recommendation is to create a partnership with a gaming company like zynga to come up with an online game. 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Other competitors focus on outshining and glamorizing their amenities to attract and captivate theRead MoreEssay on Harrahs Business Plan1068 Words   |  5 Pagestheir competition Harrahs Entertainment, Inc has made itself the worlds largest provider of branded casino entertainment. Harrah’s CEO Gary Loveman is a former operations professor who has used information technology to create what people consider the most effective marketing organization in the service industry. Harrah’s operates fifty-three casinos, employing more that eighty five thousand workers on five continents. The secr et to Harrah’s success is data. Through Harrah’s total reward card programRead MoreCase Analysis 2 Harrah Entertaiment Essay1283 Words   |  6 Pagesï » ¿Question 3 Stakeholders The gaming and entertainment industries involve a large amount of individuals. Harrah’s entertainment includes their vendors (major and minor), stakeholders, stockholders, customers and employees. Gambling is big business to those mentioned above, if it’s professional, business, pleasure or something out of the ordinary. Stakeholders ensure companies policies and procedures are followed while investing large amounts of revenue to become successful. Due to the industry becomingRead MoreOrganizational Analysis of Harrahs Entertainment1614 Words   |  7 PagesOrganisational Analysis 1.1 General Description About the company Harrah’s Entertainment, Inc., Harrah’s Entertainment, Inc., was found on October 30, 1937. It is a private gaming corporation that owns and operates many casinos/hotels primarily under the Harrah’s, Bill’s, Caesars, Horseshoes, Rio, Showboat, Bally’s, Paris, Harveys, Sheraton, Grand Casinos, and Flamingo brand names, as well as six golf courses under several brands. The company, based in Las Vegas, Nevada, is the largest gamingRead MoreData Base Marketing3687 Words   |  15 Pageshhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh Case- Harrah’s Entertainment Inc. Questions: 1. What are the objectives of the various Data Base marketing programs and are they working? 2. Why is it important to use the â€Å"customer worth† in the DBM efforts rather than observed level of play? 3. How does Harrah’s integrate the various elements of its marketing strategy to deliver more than the results of Data Base marketing? 4. What is the sustainability of Harrah’s actions and strategy? 5. What are theRead MoreIs Harrah s Entertainment, Inc. Essay1343 Words   |  6 Pages The company that I will be discussing about is Harrah’s Entertainment, Inc. This company was founded by Bill Harrah on October 29, 1937 and has its headquarters in Nevada, USA. They own more than 50 casinos and hotels and have approximately 33,000 employees presently working. The company has an annual revenue of $8.6 billion and is currently one of the top casino gaming companies of the world. The reason for their success is good customer service and efficient usage of software development. Customer

Thursday, December 19, 2019

Organizational Culture At Lincoln Electric Company Essay

Organizational 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 with served to define a company culture that was unique in its day and which has persisted for a century. Those programs and initiatives grew out of a stated mutual respect between workers and management, based largely on James F. Lincoln’s Christian beliefs and apparent genuine respect for the people who developed, manufactured and sold the company’s products. Among those programs was the creation of an Employee Advisory Board, a production based employee pay structure, and a group insurance program which was a rare benefit in its time. Today, Lincoln Electric continues to thrive and according to its 2014 Annual Report, generated revenues on the order of $2.8 billion resulting in net income of $255 million. The Cleveland, OH-based company now employs 10,000 worldwide where it operates 40 manufacturing facilities in 20 countries. Lincoln distributes its products to 160 countries. Lincoln’s culture can be described as people-oriented, with recognition of the valuable contributions madeShow 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 MoreOrganizational Culture Of The Lincoln Electric Company1439 Words   |  6 PagesIntroduction 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 implementedRead 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 individual 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 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