...Task 3.3 Intrinsic rewards Intrinsic rewards are those feelings of satisfaction that people obtain directly from their activities. People at work, for example may satisfy their needs for achievement, for competence, and for self-actualization through solving problems that are built into their jobs. Job enrichment is based on the assumption that many feel deprived of such satisfactions and that enriched jobs can make work instrumental to obtaining intrinsic rewards. Management by objectives reflects the same assumption. The anticipated benefits of both these practices are more involved, satisfied, and productive Managers cannot give intrinsic rewards. They give or decline to give themselves their own intrinsic rewards. Intrinsic rewards can...
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...and Intrinsic Rewards In this paper I will answer the following questions: 1. Compare and contrast extrinsic and intrinsic rewards within the workplace. 2. How have you observed extrinsic and intrinsic rewards working well? 3. How can managers and leaders improve extrinsic reward and pay for performance plan? Introduction Motivation in an organization is a key element to increase overall operational efficacy. Proper motivation keeps employees working at high productivity levels, increases morale and increases retention of valuable employees. All of those dimensions are critical to a successful operational structure. In addition, these are also central elements in ensuring that when organizational change is necessary, the conditions to make switches will be as conducive as possible to desired outcomes1 . How to motivate diversified workforces and engage staff is the subject of ongoing studies and examinations of management tactics. Motivation is facilitated by the managers and leaders of an organization and can be divided into intrinsic and extrinsic categories. Both intrinsic and extrinsic rewards when used properly motivate employees to reach optimal success in the work place. Compare and contrast extrinsic and intrinsic rewards within the workplace. Extrinsic rewards are usually financial. They are generally awarded to employees from managers in the form of pay raises, bonuses, benefits and title. These rewards are external...
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...MGMT5323 – Research Project Intrinsic and Extrinsic Rewards & Motivation August 6, 2011 Mark Twain wrote The Adventures of Tom Sawyer in 1876. One of the most famous stories in the novel is whitewashing the fence. It was a chore that Tom’s aunt Polly had assigned him but Tom found a way to get others to do the work and his first convert was Ben. When Ben told Tom he was going swimming and stated “Don’t you wish you could? But of course you’d druther work, wouldn’t you? Course you would!”. That was the start of a powerful lesson. Tom replied “Well, maybe it is, and maybe it ain’t. All I know, is, it suites Tom Sawyer” and he informed Ben that is it was not every day that a boy gets a chance to whitewash a fence and then proceeded to convince Ben that it was a privilege and only a few boys were even capable of doing such a job. Now the situation changed and Ben was willing to give Tom his apple in exchange for a chance for him to have the privilege of whitewashing the fence. “Tom gave up the brush with reluctance in his face, but alacrity in his heart. And while the late steamer Big Missouri worked and sweated in the sun, the retired artist sat on a barrel in the shade close by, dangled his legs, munched his apple, and planned the slaughter of more innocents. There was no lack of material; boys happened along every little while; they came to jeer, but remained to whitewash. By the time Ben was fagged out, Tom had traded the next chance to Billy Fisher for a...
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...employer. Organizations routinely focus on finances, production, and pleasing customers and neglect the impact their actions or lack of action has on employee satisfaction. The consequences may be seen in products or services that are not up to standards and an increase in turnover and increase in cost for employers. Hence, finding the right balance between employee satisfaction and its enhancement of employee motivation and performance is imperative as it will have positive effects on several aspects of an organization, including lowering turnover rates and increasing productivity and profit. The use of rewards has been found over the years to be one of the management tools in the organization to increase job performance. Besides, it is common to offer employees attractive, lucrative and competitive remuneration packages. For example, an attractive reward packages has been a norm of any employment contract. These have a direct link or inter-related to improving employees’ job competency, retaining high achievers and finally achieving the organizational performances and goals (Mansor, Borhannudin and Mohd Yusuf 2012). Besides,...
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...Intrinsic good is something worthwhile, not because it leads to something else, but for it's own sake alone. Meaning, it has good in it self. There are many things that are simply valued for it's own sake. Examples like, friendship, love, pleasure, beauty, wisdom and health. These values are something we all should take to heart. Our values what makes us and because of it we realize what our morals and standards are. Friendship is a valuable thing to have and is something that's hard to gain and easy to lose. It is an example of an intrinsic good. It is an intrinsic good because gaining someone's friendship is something that should be valued and cherished. Acknowledging someone as your best friend, let alone your friend is something that should be honored on their...
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...Analyze the ethical dilemma faced by Antonio Incidents such as these - and today's heightened sensitivity to the risks of the insider threat - force organizations to redefine their screening strategies as part of their risk management approach. No longer is the focus solely on pre-hire background screening. Increasingly, organizations are engaging in continual screening, to catch anomalous activity that could be a precursor to actionable behavior. And they also are embracing policies and procedures to handle damaging data when it comes to light about current or acquired employees. How fraud occurs within organizations can be understood by examining the elements that comprise such actions. At an individual level, SAS No. 99 (Consideration of Fraud in a Financial Statement Audit) issued by the Auditing Standards Board indicates that the occupational fraud triangle comprises three conditions that are generally present when a fraud occurs. These conditions include an incentive or pressure that provides a reason to commit fraud (personal financial problems or unrealistic performance goals), an opportunity for fraud to be perpetrated (weaknesses in the internal controls), and an attitude that enables the individual to rationalize the fraud. At the organizational level, leadership, organizational culture and management control systems form the three points of the organizational fraud triangle (Free, Stein &Macintosh). Create and describe two strategies for addressing the...
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...Reward and Recognition Blue Group Liz Crane Mark Glover Annice Lappin Tim Rowler Adele Vesty The Strategic Human Resource Management strategy that we will be focussing on for this presentation is ‘Reward and Recognition’. The award winning organisation that we have researched is Schweppes Australia, winner of the 2014 Australian HR award for the Best Reward and Recognition strategy, sponsored by Solterbeck. The format of our presentation will be to: 1. define the key terms, 2. present the research and literature focussing on both corporate and not for profit organisations 3. outline the award, 4. compare and contrast the award with the research of best practice of reward and recognition. 5. conclude with the benefits and limitations and alternatives of this Strategic Human Resource Management practice. Definition For the purposes of this presentation we have used the MIT Human Resources Division definition being, “The purpose of an employee recognition program is to recognize and reward work and behaviors that support/further the mission, goals, values and initiatives (of the organisation).” While Liz Prudden of San Diego State University separates this into two main categories, “The two types of reward and recognition are easily distinguishable: Monetary, receiving dollar incentives for performance and Non Monetary (NMR), various forms of "soft" recognition. Formal and Spontaneous are additional distinctions of Reward and Recognition” ...
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...STRATEGIC ANALYSIS REPORT MUSEUM OF CONTEMPORARY ART Australia University of Technology, Sydney Faculty of Business School of Management Table of Contents INTRODUCTION 3 MISSION & VISION STATEMENTS 4 GOALS AND OBJECTIVES 5 EXTERNAL ENVIRONMENTAL ANALYSIS 7 SOCIAL 7 TECHNOLOGICAL 8 POLITICAL 9 ENVIRONMENTAL 9 ECONOMIC 10 INTERNAL CAPABILITY ANALYSIS 11 VRIN 12 S.W.O.T ANALYSIS 14 PROPOSED STRATEGIES 16 STRATEGIC ALLIANCES 18 REQUIRED RESOURCES 20 CONCLUSION 23 REFERENCES 24 INTRODUCTION Located on Sydney’s unique Harbour, one of Australia’s most popular tourist destinations is the Museum of Contemporary Art (MCA). The MCA has been dedicated to displaying, collecting and interpreting contemporary art since it first opened its doors to the public in November 1991 (MCA, 2014). The beginning of the MCA was due to an Australian artist, John Power, who left his fortune to the University of Sydney when he passed away. The University of Sydney, on Power’s request, used this money to educate and inform Australians about contemporary art. This eventually led to the NSW Government donating the old Maritime Services Board premises to the cause. This location is where the MCA remains today. The following paper will analyse critical elements involved in the MCA’s strategic operations. Beginning with the mission, goals and objectives, followed by an external environmental analysis and an internal capability analysis. The majority...
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...profit. Namely: employees, suppliers, customers, competitors, government agencies, clams, public entities and others. In my ideal company, all decisions made by owners are reasonable business decision. This decisions work for the good of everyone in the company and respond positively to those following: they are the only ones alternatively, are fair to all concerned, will create goodwill in the organization. Ideal company is one which gives its employees the opportunity to develop creative approaches in order to increase the profitability of the business while working towards the prosperity of society. Not only does an employee expect monetary rewards from an organization but also recognition for their hard work. Also, I dream to work in such an organization where the organization takes into consideration their work and reward them for it. My ideal company has to have a very comprehensive compensation package. I believe that those individuals that produce extra – ordinary results and are terrific ambassadors of company culture should be rewarded accordingly. These individuals are the most valuable assets of the...
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...First off, we are creatures. We are animals. We're very sophisticated and good-looking and all that, but let's never forget that we're made of flesh and blood. In particular, our brains are incredibly complex evolved machines. Our brains govern basic processes such as breathing and food intake, and also enable us to appreciate the finer points of John Cleese's performances in Fawlty Towers. As creatures, we have needs. We need to eat, and so we eat. As rather intelligent and social creatures, we like to chat with one another, and so we do. We take turns and finish our conversations gracefully. And there are dozens and dozens more behaviors that are just as complicated, if not more so. How on Earth do we get all of this done? That's where habits come in. Habits help us through our day. When we are doing something that is habitual, we are not engaged in the task in the same way as when we are doing something that is not habitual. Just as an example, consider making breakfast in your own kitchen on any given weekday. Next time you do it, watch how effortlessly it happens. It's not exactly like an out-of-body experience, but it's close. Your movements through the kitchen are stereotyped. You grab the milk out of the fridge, turn toward the counter and give the door that little nudge you with your foot that you know it needs. If something is on your mind, you might not notice that you're sitting at the table and munching on your second piece of toast until you're halfway through it...
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...material to produce with a time period people can distinguish the original and pirated. Therefore, Dr.Martens should using this for sales promotional tools to promote their shoes, FIRST that other brands do not have this kind of service; SECOND easy to defeat those pirated products to imitate Dr.Martens design. 2. Lucky Draw Lucky draw is the simple way to attract people attention but the important part is the reward of the lucky draw. Dr.Martens can provide the 1st place a pair of special design shoes that the design is not selling at all. When the reward was attractive, Dr.Martens should set the condition of the lucky draw. The condition of lucky draw can be buy over RM1000 can get 2 name card for lucky draw. However, Dr.Martens normal price is between RM500-RM600, people may find friend to buy together or buy over RM1000 by himself because of the special design shoes of lucky draw. The name card will fill up the customer personally information. While the lucky draw result is out, Dr.Martens will contact or email to the ‘lucky guy’ to come over and take the reward. 3. Member Card - Birthday’s Present Register a member card of Dr.Martens it only cost RM10 and it got a lot of benefit to customer. To those who are consumer of Dr.Martens...
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...Jan. 28th, 2015 Sociology Tuskegee Syphilis Study Response It was not hard to find ethical violations in the Tuskegee Syphilis Study. The doctors of this study broke all four of the standard ethical rules. For example, by not curing the victim’s syphilis or even diagnosing it, they were broke rule number one. Do no harm, but this was only the first of many violations. Not only did they not tell the victims, they decided to do a case study on syphilis progression. They did this without informing their “patients”, but also without any voluntary participation. This counts as two violations because to do any study, the subject needs to be a volunteer and they also need to be fully informed of the risks involved and why it is being studied. This is known as voluntary participation and informed consent. In fact, these doctors committed two more violations by luring the test subjects to the clinic under false pretenses. Most subjects were convinced that they were participating in a public health demonstration. This violated the “informed consent” rule and the “do no harm rule”. By not informing the patients of the real goal of their participation, the subjects were brought to the clinic under false pretenses. They purposely manipulated their patients which is how they broke the “do no harm” rule. By allowing this to go on for so long, they infected several of the subject’s wives and many children were born with congenital syphilis. This is an ethical violation of protecting the...
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...profit. Namely: employees, suppliers, customers, competitors, government agencies, clams, public entities and others. In my ideal company, all decisions made by owners are reasonable business decision. This decisions work for the good of everyone in the company and respond positively to those following: they are the only ones alternatively, are fair to all concerned, will create goodwill in the organization. Ideal company is one which gives its employees the opportunity to develop creative approaches in order to increase the profitability of the business while working towards the prosperity of society. Not only does an employee expect monetary rewards from an organization but also recognition for their hard work. Also, I dream to work in such an organization where the organization takes into consideration their work and reward them for it. My ideal company has to have a very comprehensive compensation package. I believe that those individuals that produce extra – ordinary results and are terrific ambassadors of company culture should be rewarded accordingly. These individuals are the most valuable assets of the...
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...Assignment 1 – Netflix Personalizes the Customer’s Experience 1) I believe that these types of deals can be beneficial to Netflix because it gives their customers more streaming content, which is ultimately what they want. Netflix saw an opportunity in the customer dissatisfaction from Blockbuster. So I believe more streaming content equals happy customers. The 28 day delay shouldn’t be a threat to Netflix because the gain is higher. As a customer myself, 28 days isn’t a long time. People are used to waiting months before a movie goes from theatres to DVD. More options can also lead to more subscriptions from different types of people. Although these types of deals appear to be risky, the reward is much greater. Companies should take risks to figure out what works best for them. 2) Netflix should charge for streaming content because of the convenience they offer. No late fees, no commercials, no commitment and a large variety. Netflix currently charges $7.99 a month and gives you the option of a one month free trial before creating an account. The price alone attracts people because at Blockbuster you have to worry about late fees. Not to mention, renting three movies there can equal a one month fee with Netflix. 3) Some potential problems Netflix could face in the future are that Blockbuster is trying to imitate how they operate. Not only that but they can easily come up with something new and better. Netflix can also face competition with cable and satellite companies...
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...Success Qualification Period, begins on July 1, 2011, at 12:00 AM ET and ends on July 31, 2011, at 11:59 PM ET (“Sprint to Success Qualification Period”). The second qualification period, the Participation and Overall Qualification Period, begins on July 1, 2011, at 12:00 AM ET, and ends on August 31, 2011, at 11:59 PM ET (“Participation and Overall Qualification Period”). Beachbody LLC’s (“Sponsor”) computer is the official time-keeping device for the Challenge Period and each Qualification Period. 2. Challenge Description: In the Success Club Team Challenge 2011 (“Team Challenge” or “Challenge”), Sponsor invites Coaches to join into teams and compete for individual and team rewards, as set forth herein. In addition to meeting all other terms herein, to be eligible for the Challenge and Challenge rewards, Coaches must form and register a team comprised of five (5) Coaches; however, each team may include only two team members who have achieved a lifetime rank of Diamond or above, and only one of those two team members may have achieved a lifetime rank of Star Diamond or above (“Team”). Lifetime ranks for Team membership purposes will be evaluated based on each Team member’s status at the close of the bonus week ending on June 29, 2011. Teams must be registered by their Team Captain by June 30, 2011 at 11:59 PM Pacific Time at www.regonline.com/teamchallenge. Following registration, Teams will...
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