Managerial Decision Making - Essay Example

Managerial Decision Making Managerial Decision Making The most important single manageable factor for success and profitability of all the facets of specialty store retailing is employee motivation. It is too vital to be handled on a hit or miss basis, depending on the whim or spirit that stirs the store owner or manager from time to time.To be effective, employee motivation must be promoted on a day-to-day, month-to-month basis.  It is a function that can and will pay enormous dividends. There are almost as many effective ways of motivating employees as there are ways of enticing customers into your store.

  Of course, there are also innumerable ways to "turn off" your associates and it is equally important to recognize these poor practices so that they can be avoided.  A disgruntled salesperson is unlikely to present a shining countenance to a prospective customer (Nowduri, 2013). Some store owners and/or managers prefer to drive rather than lead and this manifests itself in a tense and uneasy store atmosphere.  Fear destroys confidence as well as pride in ones place of employment; its effect on productivity is negative and destructive in the long run.

It is desirable for management to be highly enthusiastic, articulate and effervescent although each person comes across in a different way (Al-Zhrani, 2010). Sincerity, fairness and candor are essential.  True personal interest in your associate’s problems is valuable. One of the very best ways to motivate is to consciously try to help bring out the very best in your staff and to do everything in your power to develop leadership talent and knowledge.  There is great satisfaction in being able to point to successful people and honestly claim that you contributed to that success.

  This kind of interest comes through to all your people and enhances the image of your store (Riabacke, 2006). Motivation and teaching are closely related.  They should start from the first day of employment. Discipline as well as rewards are part of the motivation program.  Both should be thoroughly and constantly explained to be effective. Loyalty and pride are instilled by making people feel they are important to the business; that their opinions are sought and listened to; that they are respected as persons and treated accordingly and that they will share in the success of the business in the degree of their productivity and contribution.

  This all comes under the umbrella of involvement; Involving people to bring out the very best (Bazerman, 2012). No matter the size of your company, having a team of motivated, hard-working employees is crucial to your business success. When people lose their motivation however, their job performance suffers -- they become less productive, less creative and less of an asset to the company. The bottom line: You pay a heavy price when employees have motivation issues.I have presented some simple ways to ensure employees are enthused, productive and ready to give their all (Nowduri, 2012).1. Build a Foundation Its important to build a solid foundation for your employees so they feel invested in the company.

This could be by telling them about the history of the business and your vision for the future. Also, asking them about their expectations and career goals helps them feel like part of the team. Ensuring that any new employee receives a thorough welcome orientation is also very critical.2. Create a Positive Environment Promote an office atmosphere that makes all employees feel worthwhile and important. Dont play favorites with your staff. Keep office doors open, and let folks know they can always approach you with questions or concerns.

After all, a happy office is a productive office.3. Put People on the Right Path Most employees are looking for opportunities to advance within their organization. Work with each of them to develop a career growth plan that takes into consideration both their current skills and their future goals. If employees become excited about whats down the road, they will become more engaged in their present work (Nowduri, 2012).4. Educate the Masses Help employees improve their professional skills by providing on-the-job training or in-house career development.

Allow them to attend workshops and seminars related to the industry. Encourage them to attend adult education classes paid for by the company. Employees will feel you are investing in them, and this will translate into improved job performance (Nowduri, 2012).5. Acknowledge Contributions You can make a huge difference in employee morale by simply taking the time to recognize each employees contributions and accomplishments, large or small. Dont take it for granted that your workers know theyve done well -- be generous with praise (Bazerman, 2012).7. Provide Incentives Offer people incentives to perform well, either with something small like a gift certificate or something more substantial such as a performance-based bonus or salary increase.

Also, give out "Employee of the Month" awards. Such tokens of appreciation will go far in motivating employees (Bazerman, 2012).ReferencesAl-Zhrani, S. (2010). Management information systems role in decision-making during crises: case study. Journal of Computer Science, 6 (11), 1247-1251.Bazerman, M. (2012). Judgment in Managerial Decision Making. New York: John Wiley.Nowduri, S. (2013). Management information systems and business decision making: review, analysis, and recommendations. Journal of Management and Marketing Research, 10-15.

Nowduri, S. (2012). Management Information Systems and Its Support to Sustainable Small and Medium Enterprises. International Journal of Business and Management, 7 (19), 10-25.Riabacke, A. (2006). Managerial Decision Making Under Risk and Uncertainty. IAENG International Journal of Computer Science, 32 (4), 10-20.