The main objective of this study is to analyze and understand the interconnection between traditional (classroom) and innovative (online) learning & development techniques, and employee job satisfaction and performance. The paper will identify the main motivational and satisfaction drivers which are essential for workforce performance. The linkage between training tools and employee motivation will be examined. Once the correlation between those two factors is investigated, it will be explained in which degree the organizational growth depends on this relationship. In order to make the study more specific, the SOFAZ is selected as an example case.
The SOFAZ managing billions of oil revenues in global and national level by investing in a huge
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Identification of needs and expectations of the employees as well as motivation drivers plays a crucial role in achieving this goal (Paauwe et al., 2013). It is also needed to define drivers. Basically, motivational drivers are factors, feeling, emotions that increase the probability of high performance, high commitment among employees in fulfilling assigned tasks. In contemporary management salaries and wages cannot be accepted as only motivation drivers. The difficulty of motivation management lays on the issue that motivation is not a tangible asset and cannot be easily controlled and distributed among employees similar to salary or wage form (Latham, 2012). Many factors can play a big role in boosting or falling of employee motivation. Emotions and feeling have been overlooked in the early period of management science, but through times, it has been identified the although motivational drivers are more or less similar for the majority, their responses to the different drivers, experiencing these motivational drivers are not the same and does not spread equally. As times goes by several motivational theories presented such as Frederick Taylor`s theory of scientific management; Maslow`s needs hierarchy theory; Herzberg`s motivation-hygiene theory and dual factor theory; expectancy theory etc. in order to assist mangers identification and manipulation of motivation …show more content…
In this section, we will try to answer “what are the main activities of training and development process”. Organizations can define Training and Development as a set of systematically organized and arranged activities, in order to provide employees with the essential knowledge and skills which are necessary to meet current job demands and future expectations (Werner & DeSimone, 2012). The role of T&D in business goes through the learning process. The learning in itself might refer to competencies, behavior, skills, and knowledge which are important for the personal development. However, the goal of T&D surpasses that and demonstrates what is the contributions of these acquired competencies for improving workforce performance, and meeting the business outcomes of an organization. One of the main focuses of the training and development process is to display “what”, “how”, and “why”. Knowing “what” means the knowledge of employees which are acquired as a result of training, knowing “how” refers to skills which allow them to use this knowledge effectively, and knowing “why” shows how they will contribute to the employee motivation and the competitiveness of the company. According to Noe (2013), training goes straight various ways within an organization which create kind of a circle. The major ways are formal, informal training, and knowledge management. These aspects will be described more
military and political figures have attested to this in the years following the invasion. For the first time in about 30 years, Western oil companies are exploring for and producing oil in Iraq from some of the world 's largest oil fields are located there and reaping the enormous profit. While the U.S. has also maintained a fairly consistent level of Iraq oil imports since the invasion, the benefits are not finding their way through Iraq 's economy or society. These outcomes were by design, the result of a decade of U.S. government and oil company
It was understood that the wealthy made it to their place on the podium because they were better fit and equipped for the competition. Another business mogul, John Rockefeller took control of 90% of the nation’s oil. He used a vicious business tactic known as horizontal integration. Basically, he expanded outwards and consumed smaller oil companies, creating the Standard Oil Company. He successfully became the totalitarian of American
No where in the world has anybody discovered this much oil
Rockefeller. He was the major capitalist of the oil industry. John D. Rockefeller began to earn his money fairly quickly. He built his first oil refinery near Cleveland in 1863 and by 1870 he already created his own oil business. Standard Oil Company will grow rapidly and will viciously begin to take out the other competitors one by one.
However, the case talks about high levels of corruption in the countries and ExxonMobil could have both internal and external concerns around it. The ExxonMobil has to ensure that the economic growth that it has planned for the people of Chad and Cameroon reaches to the public as planned. The involvement of the World Bank will ease this process.
John D. Rockefeller has been famously referred as not only the richest man of his time, but quite possibly the richest man in all of U.S. history. Starting off his oil company, Standard Oil, with only 5% of the nation's total oil, Rockefeller grew his company into a monopoly in the span of just 10 years, then owning 90% of the nation's total oil. Although his success was great, it wasn’t entirely done
Rockefeller states that, “We must ever remember we are refining oil for the poor man and he must have it cheap and good” (Folsom, 2010, p. 83). In the market for oil, prices were not consistent, and Rockefeller was determined to remove any unnecessary aspects and use oil efficiently to mass produce and provide at the lowest cost. The work it took Rockefeller to offer the availability of oil allowed his market entrepreneurial persona to succeed within the process of creating a remarkable product that created the wealth of the oil
Standard Oil built a nationwide infrastructure that did not depend on trains any longer, with their fluctuating costs. After the company was dismantled, costs and the overall prices of petroleum products decreased, because of Standard Oil. The size of Standard Oil allowed it to undertake projects that disparate companies could never agree on and, in that sense, it was as beneficial as state-regulated utilities for developing the U.S. into an industrial nation (Beattie, 2007). Oil became America’s biggest industry because of Standard Oil. Rockefeller provided an extremely useful and needed product that the industrializing country needed- kerosene, lubricants, and gasoline for automobiles (Rose, 2014.)
Their employees are given the opportunity to work in a nurturing and thriving environment. The leaders of CarMax have put their words into actions for their employees to benefit from. Their efforts have earned respect from the employees as seen in feedback from employees on their website. The employee development and training initiatives are one of the biggest impacts they can have on their employees. “Training and development play a vital role in the effectiveness of an organization” (Falola, Osibanjo, & Ojo 2014).
TRAINING: DEVELOPMENT: Training is the acquisition of knowledge, skills and competencies as a result of teaching. Training is a program organized by the organization to develop knowledge and skills in the employees as per the requirement of the job. Development teaches how to become more productive and effective at work and at the company. Since Tesco aims to expand and diversify, that required the business to select the right people, in the right place, because customers’ needs and wants are different and the culture of each area varies. Tesco need to have flexible employee who are able to adapt the change in order to satisfy the customer.
Although motivating employees can be a challenge, a number of theories about motivation at work can be used as a basis for creating practices, procedures and processes to affect employee
In the Oil & Gas Industry the competition is significantly intensive, with the market being ruled by big giants such as Exxon Mobil, Total, ConocoPhillips, British Petroleum, Chevron and the Royal Dutch Shell etc. Appendix A shows the market values of these super majors. The market is over ruled by three different types of players. 1.
Motivation is essential for a group as well as an organization. In the eyes of the leader of organization McDonald’s, authorizing and inspiring staff members to do the best in their job and they’re capable of helps create job satisfaction, lowering gross revenue in an industry that has a standing for stimulating its employees. In addition, a glad, stable workforce not just conveys better customer service; it is likewise more compelling at building deals and attracting repeat business. There are five concentrate benefits of employee motivation which Mc Donald’s approached at: 1. Improved Productivity 2.
Introduction In today’s business, maximization of profits represents the principal feature of business operations. In order to achieve the highest profits, companies have to manage their human resources effectively. Thus, employee’s motivation has emerged as a critical component, it holds the key to the success of a company. Therefore, human resource managers must motivate their employees to let them perform to their best and achieve the organizational goals.
Next, there are four types of important theories of motivation which includes Maslow`s H Hierarchy of Needs Theory, McGregor’s Theory X and Theory Y, Herzberg’s Two- Factor Theory and McClelland’s Three-Needs Theory. These theories represent the foundation from which contemporary theories grew and still are used by practising managers to explain employee motivation. Motivation is an internal feeling which can be understood by manager because he is only one always close contact with the employees.” Motivation is