Market Based Management Essay

Motivation is derived from an internal force that provides an individual the opportunity to achieve their needs or goals. People are motivated by a variety of things and often have different motivating factors. Employers should be mindful of individual motivating factors when attempting to motivate staff to increase performance. While some people may be motivated by money, many are motivated by things like: recognition, promotion, and increased responsibility. Once an employer has identified motivating factors they are able to analyze a variety of motivational theories to design and implement a program that will motivate employees to go above and beyond what is expected of them.

As a manager the three motivational methods that should be used would be to provide monetary incentives, employee recognition, and training incentives. Monetary incentives are one method that can be used by a leader or a manager in his or her workplace, these incentives is to reward an employee for his or her outrageous work-related performance. These incentives may include such as profit-sharing within the company, stock options, performance bonuses, and scheduled bonuses. These different types of monetary incentives can increase the motivation of its workers and can lead to more productive, less absenteeism, and may improve one’s quality of service. Monetary incentives when awarded to one employee may also be a morale booster can also encourage other workers to improve his or her work performance, and maintain a healthy, friendly, positive work environment. A healthy workplace is a product of a successful and productive work environment. Working in this kind of economy, monetary incentives is the excellent method to use. However, these incentives may persuade others and may not to some; the result will be the same, increased quality work

Establish guidelines for researching and gathering information and work with the staff to gather and evaluate the data.

There are as many different methods of motivating employees today as there are companies operating in the global business environment. Still, some strategies are prevalent across all organizations striving to improve employee motivation. The best employee motivation efforts will focus on what the employees deem to be important. It may be that employees within the same department of the same organization will have different motivators. Many organizations today find that flexibility in job design and reward systems has resulted in employees ' increased longevity with the company, improved productivity, and better morale.

According to Narver and Slatter (21), market oriented companies or businesses are doing much better. They go on to argue that there is no much evidence to support the view in that there is no direct relationship between succeeding companies and being market oriented. Minimal research has been done to support the claim and the authors say there might be other factors that make a company succeed apart from being market oriented. This claim is also supported by another study conducted by Helfert, Ritter and Walter (11). The authors say other factors like links with other organizations might be helpful in making an organization succeed.

Employees are motivated by both intrinsic and extrinsic rewards. In order for the reward system to be effective, it must encompass both sources of motivation. Studies have found that among employees surveyed, money was not the most important motivator, and in some instances managers have found money to have a de-motivating or negative effect on employees.  This research paper addresses the definition of rewards in the work environment context, the importance of rewarding employees for their job performance, motivators to employee performance such as extrinsic and intrinsic rewards, Herzberg’s two-factor theory in relation to rewarding employees, Hackman and Oldman model of job enrichment that

Top managers develop long-range plans, called strategic plans that define the company's overall mission and goals. Strategic planning focuses more on issues that affect the company's future survival and growth. To develop strategic plan, top managers also need information from outside the company, such as economic forecasts, technology trends, competitive threats, governmental issues and shareholder concerns.

The key to an organization's success is motivation. Motivation of employees is one of the most important issues facing education today. The need to instill our employees with motivation is becoming more important especially with the shift towards a more socially and culturally responsive workforce. Knowing what motivates employees, how to provide a motivational plan that includes incentives both traditional (money) and nontraditional elements, keeping our focused on the plan and giving them the tools they need to make the plan successful, and what effect will the motivational plan have on the working atmosphere of our organization are all vital topics to tae into

that employees remain motivated if they are rewarded to achieve goals of a company. And when they are

Motivation in the workplace is one of the major concerns that managers face when trying to encourage their employees to work harder and do what is expected of them on a day-to-day basis. According to Organizational Behavior by John R. Schermerhorn, James G. Hunt and Richard N. Osborn the definition of motivation is "the individual forces that account for the direction, level, and persistence of a person's effort expended at work." They go on to say that "motivation is a key concern in firms across the globe." Through the years there have been several theories as to what motivates employees to do their best at work. In order to better understand these theories we will apply them to a fictitious organization that has the following

Add to that the global marketplace setting and economy to see that this is not an easy task for managers to pull off. In a peer-reviewed journal article by experts Aguinis, Joo, and Gottfredson entitled, “What Monetary Rewards Can And Cannot Do: How To Show Employees The Money,” a general discourse explains the pros and cons of monetary rewards while giving their best thoughts on how to improve employee performance. Also in terms of employee rewards other related issued are discussed such as timeliness, balance of monetary and non-monetary incentives, precise measurements of performance and provision of offering guidelines for management to implement. All in all each business is individualized and should match a sensitivity to understanding employees' unique expressions, feelings, and talents and reward accordingly.

The target customer for Dunkin’ Donuts iced coffee will live in urban and suburban areas, be between the ages of 20-34 and 35-49, have some high school, some college, or completed a college education, will be young, single, married with no children, or married with children, will be

This essay identified motivation theories and showed that there are more than financial ways to motivate employees and that effective leadership is also a great motivation for the workers. Unfortunately, the

Today, competition between the businesses is extremely high thus companies need to find ways to be competitive. Organizations prepare the best market strategy to increase the company performance and the ways to keep their employee motivation on the highest level to perform well within the competition. At that time, several incentive pay programs play an important role for every organization to perform well within the competition.

Being rewarded and recognised for their work or contribution is what keeps an employee motivated to work towards achieving the organisational as well as personal goals. When the employees is motivated by rewards, they will have job satisfaction consequently increasing the productivity of the organisation. It necessitates the need of managers to pay more attention in understanding their employees and come up with suitable types of reward systems for the organisation so that the employees are intrinsically and extrinsically motivated all the time. The hypotheses that I put forward here is to support this statement that effective reward management is critical to