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1What is the source of Lincolns competitive advantage Lincoln derived its competitive edge through a combination of its unique management technique and incentive compensation method These were based on the beliefs of the founder that a person can reach his fullest potential through a system of proper incentives designed to encourage competition as well as team work complemented by faith in individual by management and equality of management workers The Incentive system had four key components - Piece work - There was no base salary Workers were paid on the basis of what they produced Each worker would ensure his own quality There was no limit on how much one could produce Annual Bonus - This was not a gift rather it was a means to share the profits with the workers based on their contribution in earning that profit The contribution was determined by semiannual merit ratings based on dependability quality output and ideas cooperation Guaranteed Employment - If a worker is assured of his job he would work more efficiently Further the cost of hiring training people outweighs the savings by downsizing Limited benefits - Company just gave the basic benefits There were no frills attached Managers believed in giving workers more cash wages bonuses than fixed benefits as this helped them maximize there choice The Management did not believe in hierarchical distinctions Management was approachable and had an open door policy Workers trusted the management recognized that the management worked as hard as they did The workers were un-unionized All these created an environment of trust where workers could innovate bring forth ideas that would help the company These actions resulted in higher efficiencies and better profit margins 2Despite this advantage why did Lincolns attempt to expand internationally fail in the 1980s and early 1990s After realizing the need to expand globally Willis acquired nine plants and built two new ones in Japan
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