Management Theories of Myer
Simple article: Myer Holdings Limited 2011, Annual Report 2010/2011, Melbourne.
As the largest department store chain in Australia, Myer runs its business in Australia more than 100 years, it has 60 stores all over Australia, and Myer is trying to maintain a leading position in the retail trade; a number of management strategies are applied. In order to know how Myer’s managers maintain the performance of Myer, this essay will focus on analyst the important characters of management theories that Myer will use in their management system in the future, including the area of motivation, managing in a global environment and managing information.
Motivation
Motivation can be defined as psychological forces that determine the direction of a person’s behaviour in an organisation, a person’s level of effort, and a person’s level of persistence in the face of obstacles (Waddell 2007, p227). T motivation of employees has a huge impact on the performance of the organisation, so to keep the employees in a high level of motivation will be a good strategy for an organisation to be more effective. In the annual report of Myer, it pointed out the wage and other benefits for store team members were increased, the contribution and commitment of Myer team members were recognised. This agreement can be identified as the extrinsically motivated behaviour, which is performed to acquire material and social rewards (Waddell 2007, p228). The more contribution team members make the more benefits they will get: wage hike, promotion and other rewards.
Needs theories: A good manager should know what team members’ needs are. The Maslow’s five basic needs will help managers understand the needs of their members. Waddel et al. (p.230) argues that the Maslow’s hierarchy of needs is from lowest level to the highest level. As mentioned before, Myer increased the wage in the past years, so the physiological needs for its members should be satisfied with that. Furthermore, the report also
As the largest department store chain in Australia, Myer runs its business in Australia more than 100 years, it has 60 stores all over Australia, and Myer is trying to maintain a leading position in the retail trade; a number of management strategies are applied. In order to know how Myer’s managers maintain the performance of Myer, this essay will focus on analyst the important characters of management theories that Myer will use in their management system in the future, including the area of motivation, managing in a global environment and managing information.
Motivation
Motivation can be defined as psychological forces that determine the direction of a person’s behaviour in an organisation, a person’s level of effort, and a person’s level of persistence in the face of obstacles (Waddell 2007, p227). T motivation of employees has a huge impact on the performance of the organisation, so to keep the employees in a high level of motivation will be a good strategy for an organisation to be more effective. In the annual report of Myer, it pointed out the wage and other benefits for store team members were increased, the contribution and commitment of Myer team members were recognised. This agreement can be identified as the extrinsically motivated behaviour, which is performed to acquire material and social rewards (Waddell 2007, p228). The more contribution team members make the more benefits they will get: wage hike, promotion and other rewards.
Needs theories: A good manager should know what team members’ needs are. The Maslow’s five basic needs will help managers understand the needs of their members. Waddel et al. (p.230) argues that the Maslow’s hierarchy of needs is from lowest level to the highest level. As mentioned before, Myer increased the wage in the past years, so the physiological needs for its members should be satisfied with that. Furthermore, the report also
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