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Hello, I am looking for someone to write an essay on Managing in a strategic context. It needs to be at least 3250 words.Generalisability refers to the application of certain policy or practices over
Hello, I am looking for someone to write an essay on Managing in a strategic context. It needs to be at least 3250 words.
Generalisability refers to the application of certain policy or practices over a large section of population. The main advantage of generalizability is the implementation of certain practices to a wide range, which may lead towards creative solutions to the common managerial limitations often witnessed in the current phenomenon (NCBI, 2009). Correspondingly, the objective determined for this paper intends to identify the qualities of Lincoln Electric business model, which in turn defines its Generalisability to other industries and countries considering the HR policies and practices implemented by the company.
Lincoln Electric practices the strategy of reducing the prices of its products by controlling the cost of production. The company has introduced several HR policies which mainly focuses on the employee’s satisfaction, and thus leads to retaining the existing employees resulting in the reduced cost of production. An overall understanding of the strategic intent and direction taken by the company, it can be observed to be continuously upgrading its technology for the improvement of its products to further suffice the market demand (Siegel, 2008).
The organisational strategy of Lincoln Electronics was unique with innovative and creative ideas. In order to motivate the employees of the organisation, a special form of incentive system was introduced for properly distributing the profits within the organisation. The system comprised of four components, viz. piece work pay, annual bonus, guaranteed employment and limited benefits. Of these four components, the piecework was the most beneficial as every employee had to prove his/her quality and earn maximum according to his productivity. Another most important element of the employment system of Lincoln’s was the annual bonus scheme. According to this scheme, the employees
