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Vision, mission, objective of a business
Impact of organizational culture on employee performance project pdf
Impact of organizational culture on employee performance project pdf
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Recommended: Vision, mission, objective of a business
through the corporate ladder is a great way to motivate employees, overworking might not be the best method, as it can cause burnout and unmotivated employees. Providing low pay and/or incentives to employees is also, in my opinion, not the best way to influence motivational employees who will put forth hard work, and be loyal to the company. I believe that Dick's Sporting Goods, for the most part, follows through on their vision and mission based on the information I provided above. The company works hard towards leaving a lasting impact in the sporting communities. Dick's also "serves & inspires athletes and outdoor enthusiasts to achieve their personal best into everything they do" (About Us, n.d.). Although Dick's does seem to provide top brands at their store, I would try and come up with strategies to push some of their private brands to become a top 'must have' brand. There are multiple ways the consumer market can acquire the top brands that Dick's has stocked in their stores. Having their own popular brand of clothes could disrupt the …show more content…
It is through following these statements that will bring a firm success in the future. However, external factors outside of a company’s control can negatively affect the expected targets and steer the company from their mission & vision. Most companies do not have direct influence on this kind of environment (Harrison & St. John, 2014). The following three sections will evaluate the external forces & trends for Dick’s Sporting Goods. The following also will elaborate on external factors from direct competitors that faces Dick’s Sporting Goods. I will conclude on what other threats Dick’s Sporting Goods can expect to see, and how they can place a buffer in between these factors to stay on track towards their mission &
The biggest challenge that Costco may face is that its main benefit, offering low-price items through bulk purchases, may no longer attract consumers as before. Furthermore, there are other substitutes to most of Costco’s goods, particularly food products and similar commodities that are easily accessible and can satisfy consumer’s expectations, thereby this is a threat that could be classified as high. Based on this threat of the Five Forces model, the external factors leading to a high threat must be considered one of the company’s most important challenges.
This goal of this analysis is to shadow some light on K-Mart and Target and with the help of extensive research. In this analysis we can find out what each company can do, where they lack and what has to be done in order to keep the company profitable and alive. Thus, we will try to look at the Target wholly and then it will identify a successful business strategy and thus show that the strategy has moved the Target into one of such leaders in the industry. When we will take a look at K-Mart and then we will move on the identification of a failed business strategy and then show that the strategy has been holding this company at the back. After that we will try to perform a cross- case analysis by contrasting and comparing the case studies on the points of difference and the parity. This will help us in looking at a side by side difference of a SWOT analysis and also the five force analysis.
Definition of Main Problem: There can be no argument that Wal*Mart has revolutionized the discount retailing industry. Furthermore, CEO Glass and COO Soderquist have stepped in at the helm of this company and continued to take it in the right direction by quadrupling sales and profits from 1987 to 1993. The main problem they now face is how to sustain their phenomenal performance, and becoming number one has magnified this issue. No longer can they just sneak into small towns where the only competition is the local merchant’s shop. No longer can they copy larger companies like Sears and J.C. Penny’s because of their size and scope. The fact is, Wal*Mart is bigger than these companies and their direct competitors Kmart and Target are doing everything in their power to close that gap. They are lurking not so quietly in the shadows, benefiting from Wal*Mart’s past choices, successes, and failures. They are there to blow the whistle if Wal*Mart steps outside the lines. Wal*Mart may be growing, but at a rate under 10% for the first time in years. Shareholders are concerned, the press is relentless, and many obstacles lie in their path if they hope to continue the trends Sam Walton set so ambitiously in 1962.
Besides this, an employer can use other tools to value the commitment and the engagement of an excellent employee. As a manager, from my experience (because in my country the salaries are fixed and based on the performance I cannot decide for a merit rise) I used different tools, in order to encourage my team. Sometimes, not just the money is a satisfaction, especially for young professional they better prefer do get promoted, to enjoy different experiences (such travelling abroad for the purposes of capacity building) or even to get announced as the best employee of the year. Therefore, besides compensation, there are other forms, that are not just material but are some other honorable tools that a manager could use in order to motivate and encourage the team
There are many kinds of motivation techniques that one can use when motivating salary and to a lesser extent hourly employees. Factors such as strong communication, added responsibility, achievement, recognition and advancement are all factors that can motivate employees. Due to the union environment it is difficult to motivate hourly employees but what always works well is providing recognition. Sometimes that is done by just thanking employees for doing an outstanding job or giving them gift certificates to a store or restaurant for a job well done. Just spending time with each employee occasionally, keeping in mind the things that go on in their lives and listening to them goes a very long way towards keeping hourly workers motivated. Over the years I have sat down with many employees and listened to their issues at home with their families and sometimes major issues they are having with their children. This time has often led to employees being more dedicated to my objectives as well as the organization's objectives.
...hatever the motivational techniques used, they should be customized to coincide with the corporate culture unique to the organization. They also need to be meaningful to the employees and used in ways that the purpose of the reward is obvious. There are all kinds of employees out there with different work ethics and a small amount of thought into the motivational techniques used by an organization can go a long way to getting those unique individuals working together in a more productive and profitable way.
Business owners could use incentives and gifts to encourage the workers. For instance, a store owner could initiate the idea that whoever brings ten new customers to the store this week will get a bonus in their pay check. Business owners could give raises, bonuses, and time off as incentives to work as hard as they can. By giving fun extras to the employees, they will feel compelled to do their best.
This happens when money is just their only motivation or if they’re trying to receive a promotion. Others try to increase their productivity due to just the satisfaction they obtain from their work socially. Another reason may also come from an employee getting a good, decent salary. This not only improves the job satisfaction, but gives the member of staff understanding of the fact that they get fair payment for their labors. “[But] if an employee does not get satisfaction in their work, they may seek for satisfaction in other work unrelated areas. He or she may also be content with work as it relates with those work unrelated areas. Job dissatisfaction may also cause an employee to quit” (Robbins). In addition, empowerment is a factor that can motivate others into enhancing their work productivity. Human empowerment leads to the job satisfaction. When management gives an employee the opportunity to work based off of their own standards, this amounts up to those in the company, resulting in the job productivity increasing. “An example of a way to motivate employees is the management offering them opportunities for promotions and pay rise negotiations. This will encourage job productivity since employees will want to receive [these] rewards” (Jackson,
People spend an extensive part of their lives at work, so it is not astonishing that they expect to be rewarded and fulfilled with the job that they do. Motivation is concerned with why people do things as well as what drives them to act in a particular way. Understanding what motivates an individual is important in a workplace. Motivated employees are happier at work. They get more satisfaction from their work, they are absent less frequently, and work with more enthusiasm. This encourages them to contribute more, hence increasing the productivity in the organization. Unmotivated workers will not be as contented with their position in the work environment as motivated workers. The job might not be as important for them which may lead to a poor performance, which will lead to less efficiency and hence to poor productivity.
Dwight D. Eisenhower once said, “Motivation is the art of getting people to do what you want them to do because they want to do it.” Studies have found that high employee motivation goes hand in hand with strong organizational performance and profits. Therefore, managers are given the responsibility of finding the right combination of motivational techniques and rewards to satisfy employees’ needs and encourage great work performance. This becomes a bit more challenging as employees’ needs change from one generation to another. Three of the biggest challenges a manager faces in motivating employees today are the economy and threats to job security, technological advances, and company cultures that primarily focus on the bottom line.
This report will discuss about how external environment affects Harrods’s modus-operandi and the appropriate marketing strategies that they have to apply in the future.
Another con is that all the employees in the firm may not receive that exact amount of incentives as others, which can lead to more reduction of work and hurt the cohesiveness of the group and production will decrease. Motivation is the factor that keeps an employee determined to excel in their career. There are several waves of motivation, theories. One way to motivate people at work is by redesigning jobs. When redesigning jobs, job rotation is one factor to consider. Job rotation is key in helping employees stay away from the boredom of the same task or job. It also gives the employee the opportunity to gain knowledge and develop in more than just one area within the job. Job enlargement is another tactic that helps motivate workers. Job enlargement is basically the same job that you originally had but it is expanded on by adding more tasks to cover. Job enlargement usually makes the employee have a better sense of credibility and self worth. By tasks being added to employee’s jobs it makes their jobs more exciting, therefore production and job satisfaction usually increases. By increasing job involvement employees will have a better attitude during work hours as well. With employees being involved in decisions that goes along with their work
The concerns that managers have regarding the subject of motivation and how to get the most effort from their employees are valid concerns because. The reality of today’s economy have many people living paycheck to paycheck and sometimes working two and three jobs just to make ends meet. Although many people are grateful to have jobs, they feel that they are living in times of uncertainty and worry everyday if they will have jobs tomorrow. The stress of dealing with the rising cost of everything not only makes motivation more challenging, it has caused people to be more anxious and distrustful. Trying to keep employees motivated in these times of uncertainty is indeed a big concern.
In today's complex business environment; traditional approaches like monetary incentives are not the only prime motivators. In addition to expecting financial incentives for their performance, employee's expectations are much more. Appreciation, recognition and opportunities for personal growth; must be catered for to harness maximum productivity. Furthermore in an era where change is imperative for the organisation's survival, highly motivated employees, represent flexibility and show willing to change; a vital component for the success of any organisation.
An important part of the retention of staff, reducing staff turnover and minimising absenteeism at work is ensuring that staff are properly motivated. This is not as easy as it sounds. At first glance, you might be tempted to think that merely increasing wages is the way to motivate! Not so. Most thinkers on the subject would argue that motivation is a far more complex issue than merely 'money'.