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odel, which has since long dominated the people management strategies adopted by managers in workplaces to constantly keep their employees motivated in order to derive better performances. However, during the past couple of years organizational management has undergone significant transformation in the manner in which it seeks to motivate its employees. The traditional methods of offering extrinsic rewards or economic benefits to the employees in order to keep them motivated and garner higher productivity and hence revenues, has become obsolete ever since the introduction of the concept of intrinsic motivation, which is required in today’s workplace.
One of the most commonly discussed economic ideologies is the fact that it emphasizes on the aspect of personal economic gain as a key motivating factor within an organizational environment. Various eminent theorists and authors such as Ed Schein, Abe Maslow and the likes have stated that employees have a higher-order personal needs which govern their behavior. There is a wide amount of literature which claims economic rewards as a key motivator however the evidence on higher employee productivity on account of intrinsic rewards has been mounting in the past couple of decades (Thomas, 20022).
Extrinsic benefits or rewards commonly include monetary compensation as a primary tool of enhancing employee performance. However, despite its widespread acceptance, especially among the managers who view it as a most effective means of improving worker productivity, this method has attracted severe criticisms recently. A significant proportion of these criticisms are mainly on account of wide spread research, which offers empirical evidence regarding the failure of extrinsic motivation to ensure and sustain, long term organizational performance (Perry et al. 20093; Ingraham 19934; Kellough and Lu 19935; Milkovich and Wigdor 19916). Furthemore, it has also been observed in past researches that debates concerning employee
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Introduction The development of globalization in markets worldwide has allowed businesses to achieve a high growth within a relatively short period of time. However, the decrease of time in the expansion of business activities, as a consequence of globalization, has been followed by the increase of relevant risk (Vellani 2007, 134).
Along with the management skills, managers should possess some degree of technical skills (i.e. help wait on tables, occasional food preparation etc in the chosen case study) to manage employees and their problems in an effective manner (Basic Skills for Project Managers).
Implementing a performance management system is essential because without such a system the management cannot determine organizational goals. There are different aspects to performance management such as performance planning, monitoring, reviewing performance, and appraising individual performance.
After researching on the product market, the entrepreneur then goes on to establish the business enterprise. However,the strategies used in running the business determine its success and survival in the market.This is dependent on the management theory used by the business.
In order to effectively control the project, it is of great importance that the project managers must clearly identify the risks before starting the project and outline their responses against the various risks identified so that an effective and efficient strategy can be developed to meet the uncertainties related with the project.
Basic definitions of management and organization structure are discussed in this paper. Initially management was considered as an art of directing and controlling people. But now it is considered a science of using expertise of personnel to its maximum potential.
The role of a manager is to properly oversee the assigned tasks of management. He is the person who decides what course of action will be adopted in the wake of managing tasks. He is responsible for delegating work
anizing, selecting and involvement of the best qualified staffing and the ability to lead people, each organization has chances to achieve the best outcomes as for the itself as for the stakeholders involved. Proper management ensure setting of such activities as planning and