Strategic Management
Strategic Management
APPLIED SUMMARY PAPER
STRATEGIC MANAGEMENT
PREPARED BY RICHARD JOHN
Motivational Concepts.
The New York City Transit Authority being a public benefit company cannot give economic rewards, for example bonuses, profit sharing, stocks, to motivate its employees, it instead uses being employed by the company and the comprehensive benefits packages that comes along with it, as the main motivator for its employees system wide. The comprehensive benefits package includes, Equal Employment Opportunity, protection against discrimination based on gender, race, religion, and sexual orientation. Wages are usually comparable with other companies. Employees are also entitled to paid vacation and sick leave, collective bargaining, the right to arbitration of disputes, medical and dental benefits, on going training and opportunities of promotions, generous pension plans, and the option to join other retire plans such as 401k plans, free transportation in New York City on its trains and buses. These benefits, along with the retirement plans, make the NYTCA a very desirable place to work and as such it is very competitive to become an employee. Other motivational methods are letters sent to all employees for different goals that have been achieved, and there are various competitions that employees can enter voluntarily to win cash prizes. Competitions such as “The Suggestion Program” enables employees who win, earn cash prizes if their suggestions have value and it can save the company a lot of money by either improving something like a mechanical device, or a way to do something different. These competitions give extrinsic and intrinsic value to the winner’s and intrinsic value to the other participants (Bateman & Snell pg, 407). Motivational and congratulatory letters are sent to employees who have reached a number of year’s service, or having a clean record, or having a good attendance record.
These motivational approaches are very effective, and they encompass and facilitate the five categories that motivates productive people (Bateman and Snell pg, 398). The five categories are (1) Joining the organization; Most titles requires passing a test. This gives legitimacy, levels the playing field and creates a standard of high skill level for the process. Prospective employees are motivated to trying to get the highest score. (2) Remaining in the organization; Employees remain in the organization because of the good benefits and also the knowledge that when they retire they will be receiving 70% of their salary every month in addition to other entitlements due to them. (3) Come to work regularly; Employees know that not coming to work regularly and on time is grounds for termination of employment, and this motivates them to come to work regularly. (4) Performance; Poor performance can create havoc and put lives at risk, which can result in criminal charges being leveled against offenders. Employees are conscious of these at all times, and it motivates them to perform to the best of their abilities most of the time. (5) Exhibit good citizenship; employees are generally cooperative and respectful to their peers and seniors at all times.
I have learned that in addition to the above mentioned, all important work behaviors are motivated. Setting goals that are specific, quantifiable, and challenging (Bateman & Snell pg 399). Reinforcing good performance; Behavior that is followed by positive consequences will probably be repeated (Bateman & Snell pg, 400). Maslow Needs theory; the theory of people satisfying their lower needs before satisfying their higher needs. Maslow believed that that people will satisfy their lower needs before satisfying their higher needs (Bateman & Snell pg, 405). Create a motivating and empowering job: Well designed jobs can lead to high motivation, high quality and performance, high satisfaction, low absenteeism and turnover (Bateman & Snell pg, 410). Achieving fairness using the equity theory; this theory proposes that people assess how fairly they have been treated according to two factors; input and output (Bateman & Snell pg 413). The causes and consequences of a satisfied work force; the importance of quality of work programs that can enhance employees well being and satisfaction. Advocates of these programs claim that it improves organizational effectiveness and productivity (Bateman & Snell pg, 417).
Leadership and Management Styles.
A leader is one who influences others to achieve goals (Bateman & Snell pg, 366). They must also be able to bring about change, set direction and motivate people to overcome obstacles and move the organization towards its ideal future (Bateman & Snell pg, 387). Leaders must have vision and know what they