Arthas
What are the characteristics of a successful business?
It has been put forward that financial crisis enforced manages concentrate more on the characteristics of successful business. There are many factors which contributed to a prosperous business such as financial plan, recruitment, motivation and reward. This essay will attempt to illustrate why reward is the attribute which contributed to a successful business.
Reward is defined as the collection of total financial and all non-financial benefits that an employee receives (Wilkinson&Redman 2013).It is proved that reward is one of the most significant sections in corporate governance since it related to all the employees’ benefits. There are the reasons why managers should pay more attention to reward especially under the threat of financial crisis today.
To begin with, a preeminent reward strategy can motivate employees’ positive behavior and inhibit inaccurate manner. Managers can improve the efficiency and productivity which can bring company higher profit via this way. The reason why IBM got huge profit than other PC manufacturer is that IBM has a series of complex rewarding system which motivate employees to do better than before!
Furthermore, an excellent rewarding system can bring in fresh blood and proper ways that can ensure the company’s survival of the increasingly challenging time. A positive rewarding system may give new employees a feeling that they are treated as the same as the older. This kind of feeling can also help managers engage employees as a strong team. It is believed that only a high performance team can survive the financial crisis.
Finally, a preeminent rewarding system could be a significant way to resolve the problems caused by the globalization. It is through that multinational cooperate is the ultimate form for a company. During the development of a company, there must be some international problems such as culture problems which can be resolved by positive rewarding
It has been put forward that financial crisis enforced manages concentrate more on the characteristics of successful business. There are many factors which contributed to a prosperous business such as financial plan, recruitment, motivation and reward. This essay will attempt to illustrate why reward is the attribute which contributed to a successful business.
Reward is defined as the collection of total financial and all non-financial benefits that an employee receives (Wilkinson&Redman 2013).It is proved that reward is one of the most significant sections in corporate governance since it related to all the employees’ benefits. There are the reasons why managers should pay more attention to reward especially under the threat of financial crisis today.
To begin with, a preeminent reward strategy can motivate employees’ positive behavior and inhibit inaccurate manner. Managers can improve the efficiency and productivity which can bring company higher profit via this way. The reason why IBM got huge profit than other PC manufacturer is that IBM has a series of complex rewarding system which motivate employees to do better than before!
Furthermore, an excellent rewarding system can bring in fresh blood and proper ways that can ensure the company’s survival of the increasingly challenging time. A positive rewarding system may give new employees a feeling that they are treated as the same as the older. This kind of feeling can also help managers engage employees as a strong team. It is believed that only a high performance team can survive the financial crisis.
Finally, a preeminent rewarding system could be a significant way to resolve the problems caused by the globalization. It is through that multinational cooperate is the ultimate form for a company. During the development of a company, there must be some international problems such as culture problems which can be resolved by positive rewarding