Transparency can be defined as about being open, honest, and responsible in the way someone carries on their business. This mean sharing, to whatever extent possible, fact about the company on how it is set up, how it operates, what is salaries and bonuses are based on and how its workers are expected to treat customers and each other. Transparency important for the long-term health of a company because it is to avoid damage reputation of the business, attract and retain good employees, boost employee morale, trust and loyalty and for longer term business performance and sustainability. Transparency can be included trustworthiness of a company and company relations. It is important for a company to take into consideration and be responsible to the needs of all organization’s employees and other economic agents because it can give serious impact for the future of an organization.
Interactions between the customers and the staff should be a good one to increase the productivity of a company. According to employees, monitoring is considered as a matter carried by employers due to the lack of trust and faith against employees. But in the point of view of employers, monitoring is vital to protect them and the business secrets within the employer-employee
As the business environment evolves, so does the need for motivating people in order to increase productivity, efficiency, and effectiveness. With this in mind, managers are consistently balancing the company’s requirements with the needs of individuals who support the organization. Clayton Alderfer looks at the Abraham Maslow’s motivational theory and expands the principle. Maslow’s claims that if a person is lacking food or shelter, then they will not care about security. Additionally, he believed that self-actualization needs are not considered unless one external condition promotes healthiness, safety, and emotional stability.
All team members should be able to trust the team leader, look up to them and take their team lead advice confidentially whenever required. Team leads should not be partial to any team member and support each team member equally. It is the duty of the team lead to extract the very best out of their team members. Tricia being the team lead is responsible for bringing her team members closer so she can build a better professional rapport and ensure all are motivated to deliver their level best. With the help of the team management feedback, she moved forward to manage a positive ambience at the workplace and promoted a healthy interaction for her team.
To encourage leadership behavior, employees are encouraged to meet quotas independently as a reflection of employee and departmental freedom. Employees that meet quotas and perform well are rewarded with bonuses based on customer service and sales, in addition to advancement within the company. These procedures and guidelines reinforce the idea that your company desires quality employees that are willing to improve the company and themselves. After a talent philosophy has been developed, a Human Resources strategy must be developed. A Human Resources strategy links the company’s business strategy and goals with the functions of Human Resources.
In this assignment I am going to discuss the stakeholders of two contrasting business’. Sainsbury’s: One important stakeholder is owners. The owners of Sainsbury’s they have it in their best interest to make the business as successful as possible by setting aims and objectives for themselves and their employees. They want to make the most profit they possibly can whilst keeping their customers and suppliers happy. If they do not meet their aims and objectives then this will mean that the business does not succeed.
A culture that places a high value on attention to detail expects their employees to perform their work with precision. A culture that places a low value on this characteristic does not. 3. Emphases on Outcome (Achievement Orientation) - Companies that focus on results, but not on how the results are achieved, place a high emphasis on this value of organizational culture. A company that instructs its sales force to do whatever it takes to get sales orders has a culture that places a high value on the emphasis on outcome
The term "transactional" refers to the fact that this type of leader essentially motivates subordinates by exchanging rewards for performance. A transactional leader generally does not look ahead in strategically guiding an organization to a position of market leadership; instead, these managers are solely concerned with making sure everything flows smoothly today. Advantages As stated above both leadership styles are needed for guiding an organization to success, and it was thanks to that approach that Fight Club was such a successful organization. Transactional leaders provide distinct advantages through their abilities to address small operational details quickly. Transactional leaders handle all the details that come together to build a strong reputation in the marketplace, while keeping employees productive on the front
He asserted that an organization should use only one out of these three so that company can achieve organizational goals without wasting its precious resources. The most essential part of these strategies is that it tells about the interaction between product differentiation, cost minimization and market focus strategies. Porter’s strategies are very useful for any type of organization as it helps in decision making and in obtaining future gains in advance. Still many people claimed that use of these strategies leads to lack of flexibility and specificity. (The Economic
They understand that the best thing for themselves is for their group to perform as well as possible. When givers show they care more about the group, they signal that they care less about themselves that is why they earn their collaborators’ respect and trust. The "givers," the leaders who balance their own interests while also considering the interests of others, are the most successful middle market business leaders. Middle-market companies benefit from building a culture of givers where employees are willing to help colleagues and customers without strings attached. The acts of giving like in knowledge sharing, mentoring, introducing - become the standard and those companies are benefit from profits, customer satisfaction, employee retention, and operating