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Lincoln Electric: Business Expansion Concept

The concept of expansion has become the leitmotif for most companies’ business strategies in the modern economic setting. The rationale behind the focus on expansion is quite obvious since a larger organization with stronger links across the globe has greater chances of remaining sustainable and keeping its competitive advantage over rivals. However, in the case of Lincoln Electric, expansion into India may entail several major hindrances to its further performance. Since the organization will have to start from scratch in the specified economic context, the stakes are very high in case of failure. Therefore, it would be better for Lincoln Electric to consider a different option for expansion, which may involve a merger or an acquisition. Thus, the company will have a decent support system on which it can rely in case of increased risks.

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However, if the organization considers exploring the options that the Indian economic environment provides, it will need a mode of entry allowing for rapid development of key business connections and the introduction of a new supply chain infrastructure. Thus, Lincoln Electric will be able to seize the Indian economic environment and ensure that its production process remains uninterrupted. In addition, the firm will need to deploy an elaborate recruitment approach to select employees with the required amount of experience and expertise.

The idea of pay-for-performance offers multiple options for a company to keep its employees highly motivated. Therefore, in countries such as India, where the described payment framework is not practiced, Lincoln Electric may stumble upon difficulties associated with keeping staff members motivated. However, the described challenge does not imply that Lincoln Electric should not expand into other countries. Instead, it means that the organization should focus on exploring the culture of the target environment before developing a recruitment approach. Once understand what the main driving forces behind employee engagement constitute in the selected setting, Lincoln Electric will be able to strive in any setting.

Reference

Lincoln Electric’s Harsh Lessons from International Expansion. (2014). Harvard Business Review. Web.

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