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What features of LECO account for its long-term success in the US There are several factors that have contributed to the long-term success of Lincoln Electric in the US Most notably the productivity of the labor force and the efficiency of operations have generated a competitive advantage over the market Existing and potential competitors are not able to produce at the same low costs and subsequently are not able to offer competitive prices to the market thus increasing LECOs market share The high levels of productivity common to LECO employees can be attributed to motivation and job satisfaction Guaranteed employment no lay offs since 1948 instead LECO rotates through co skill variety Equity employees earn comparable sometimes higher wages than other manufacturing companies In addition there are short power distances between laborers and managers common cafeteria no reserved parking managers work long shifts etc As a result employees feel that they are being treated fairly Expectancy wages based on piecework and an annual bonus gives the average worker the possibility to increase total compensation According to expectancy theory employees are motivated by the belief that they can expect to achieve certain desired rewards by working hard to attain them Instrumentality Rewards are explicitly linked to a measurable performance Positive Valence employees value the rewards that are offered to them for desirable behaviors Why did the internationalization thrust fail There were many factors that contributed to LECOs failed attempt at internationalization It is evident that Willis ignored a variety of cultural and macroeconomic effects related to his plan Specific to human behavior LECO neglected the transferability of the incentive system to other countries and the utilization of management controls to monitor it External It was unreasonable to expect considering the extensive experience with the US labor markets and the period of time required to customize the incentive system to fit a very specific culture that it could be instantaneously transferred to a different business environment
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