Entries in the Category "MGMT250"
Motivation
Motivating employees can be difficult. Motivation can be achieved by having pizza on Fridays or a company softball team. Other options are a company Christmas party or a Halloween party. Managers could even take their employees out to lunch or dinner. These are both very acceptable ways to motivate employees.
Simulation
My simulation experience was very fulfilling. Working with others to make the company successful was hard but well worth the effort. We certainly did not get the company to where we wanted it to be, but we did our best.
My part of the team was making budgets. This was something I enjoyed because it was a clear objective and could be done in a short amount of time. I enjoyed my role in the team.
Company Christmas Party
Christmas is here again, and with it come a slew of company holiday parties. Although these parties are used to improve morale there is evidence to suggest that managers and companies need to protect themselves from damage that may result from said party. This damage is usually caused by drinking too much.
Managers must take the role of chaperone rather than guest at the party. They must take the initiative to tell employees when they've had enough to drink. This action can prevent drunk driving, sexual harassment, and other detremental things from happening.
This is just another example of a society of people that enjoys blaming others for their own actions and expects a cash settlement in the process. Taking responsibility is a lost art and insurance companies and attorneys are bringing in the cash because of it.
Earlier in class, we discussed motivation. A yearly Christmas party is a good reward for employees. Thus, to help motivate employees it is a good idea for employers to hold such a party.
Desk Rage
There's a problem sweeping corporate America. No, it's not the flu or decreasing profits. It's known as desk rage. It usually hits lower level employees who feel helpless and emotionally abused in the workplace. They feel their work is not valued and they are out of touch with the reason behind their work. These feelings can lead to job resentment. Employees who resent the workplace can abuse sick days, steal from the company, backstab other employees, and even become physically abusive.
To prevent these feelings lines of communication in the workplace need to stay open, conflicts need to be resolved sanely, and there needs to be a general appreciation of everyone's work. As a manager, creating a team with a shared goal can curb employee desk rage.
Healthcare or Big Brother
Microsoft has a special healthcare option to deal with overweight employees. Their employees have the option to have the company pay for a year's worth of fitness club memberships and nutritionist meetings. This has led employees to lose a lot of weight and become healthier.
With all these expenses coming from all these employees, what is the upside for the company? Healthcare costs are down, absenteeism is down, and production is up. Employees are feeling healthier, leading them to work more and do their jobs better. This is part of the benefit package that employees can choose to participate in. Having a benefit plan is something positive within a company. It makes workers happier.
Although some may see this as getting too involved in employee's personal lives, I think this idea is both profitable and helps create healthier people. Where is the downside?
Big Business
A man approached my little sister in a mall. He told her she should be a model. He works for Elite Modeling.
The modeling industry is big business. Companies use models to give an image to a product. Their beautiful face is associated with the product. Women want to be this woman, or at least have the product, so they spend the money. The psychology behind advertising is amazing.
Jay Leno
I watched Jay Leno last night. He announced that Walmart is coming out with a new wine. It will cost between two and five dollars. This is truly the Walmart business strategy. Extremely low prices regardless of quality.
This is a business strategy that is doing very well in modern America. People have the desire to spend less money. Walmart obliges.
When this product is released managers at Walmart must find a way to motivate employees to make this product a success. This can be done by rewarding shift workers who sell the most product. This will help workers focus on getting product off the shelves.
Benefits
A company's employee benefits can draw in new employees. It can also help to keep turnover low. Knowing what your employees want, be it a higher salary or better benefits, can help your company succeed. This is why companies need to put more money into employee surveys and meetings that address this issue.
In our simulation company, we are putting more money in employee benefits, rather than increasing wages. Morale is going up, which is what we were trying to acheive.
Advertising
It is amazing how much advertising effects the way a product is viewed by the public. If a product is advertised in the wrong way, no one will buy it, no matter how great the product actually is. This is unfortunate, as many great products are ignored as consumers flock to big budget ad campaigns to find their next buy.
Little companies need better access to advertising to get their product on the market. This can be difficult, and costly, but it will be worth it in the long run.
Management Jargon
A recent MSNBC article discussed the need for management to watch the way they speak to employees. According to a recent survey, managers who use cliches are perceived as lacking confidence and lying.
I can understand how those employees feel. When I worked as a waitress, my manager would use cliches and jargon to boost morale. It had the opposite effect on the employees. I thought he did not have anything of importance to say to the employees. This led him to he use statements that meant nothing to fill the time. It hurt his credibility.
Managers need to understand that what they say, and how they say it, to employees has an effect on them.
Customer Service is Important
On msnbc's website, shown here, I found a very interesting story. It discusses the business strategies that have made one industry very successful. It is also about pot. It seems that the drug dealing industry is applying big business customer service strategies to increase profits. Delivery service, product quality, and the use of technology to keep track of customers are some of the ways the pot industry is increasing customer service.
With such awesome customer service found in drug dealing, maybe corporate giants such as Wal-Mart and Kohls have something to learn from the little guy.
"Cheating is an Accepted Practice in Business"
According to a recent story on Yahoo! Finance, shown here, the graduate students that cheat the most are MBA students. The article claims that these students claim that "cheating is an accepted practice in business." I partially agree with this statement. Additionally, I believe that these students are used to being the best of the best. They are unable to reach this feat, so they resort to other means.
It is sad to know that America's executives are known for being dishonest.
Interesting Advertising
With the advent of TiVo and other television technology, people are able to fast-forward through commercials. Therefore, marketing and advertising executives had a dilemma. This led them to new advertising strategies. Your favorite television actors are now drinking a certain type of soda and baseball players are batting in front of a logo. This is an amazing advertising progression. It has also changed the television and movie landscape. People must stay guarded so these semi-hidden advertisements are recognized for what they really are.
Giant Eagle Business
Many patrons who buy groceries from Giant Eagle have a Giant Eagle card. This is a very interesting business strategy. It keeps track of a customer’s buying history. This gives the company a better idea of what to stock in a specific store, what products a customer buys, and what types of coupons to send a customer in the mail. This information will lead to better service, and therefore, bigger profits. I think this is a very good strategy to use in a large merchandising business.
Accounting
I am studying to be an accountant. This career is the right one for me because I enjoy it. Reading and understanding the financial statements of large corporations is very interesting. It is also very informative, especially when investing in the stock market. Being able to read a company’s financial statements will lead to more knowledgeable investing. Hopefully, this knowledge will help the investor make more money. With any luck, I will be that investor.
The Care and Management of a Team
Last week in class we discussed groups and teams. Lencioni believes that trust is the first step to having a great team. I agree with him. Trust is the basis for any relationship, and it is no different in business proceedings. Trust leads to respect for other team members and solidarity behind a team’s ambitions. Organizing employees in teams is an effective way to manage a business, and I will certainly consider the teambuilding exercises when I enter the workforce.
Mock Interview Reflection
I participated in the mock interview assignment. It was a valuable experience. After the actual interview the Nordson representative gave me feedback. She told me that I was confident and had good eye contact with her. Also, my closing statement was impressive. On the other hand, I should practice my answers to behavioral questions. At the end of the session, she commended me on my interviewing skills.
Networking
Management class this past week brought about the challenge of networking. Networking is talking to people you do not know, conveying a point, and being memorable. The end goal is handing the person a business card and hoping that knowing this person will be beneficial to you in the future.
After the experience, I feel torn. On one hand, I am disappointed. I do not think I did a very good job in class. I found it difficult to talk to people I did not know about trivial things. In fact, I would not refer any of the people I met to a possible job merely based upon the fact that I know they are from Kansas.
On the other hand, I do not think real life networking will be very much like the simulation. I feel it will be more one on one, just a couple people talking to one another about things they are both involved in and are interested in. These two people might meet through work, a conference, or wherever, but their goal will be to know the other person better, not just as a connection. I think, or to put it a better way, hope I will not be involved in situations such as the networking situation in class, something contrived simply for networking, not really for knowing the other person.
Maybe that is all a dream. Maybe, possibly, I will be put in those situations and go about it professionally and hand out some business cards to possible contacts. Maybe get a call some time about a job opening from someone I met through one of those events. Even better, maybe these networking events will put me in touch with someone I will turn into a person I know better than just through a business card. The after networking event dinner or drink will be where I find my real contacts.
The Interviewing Process
The Management 250 grading contract was an approach to class work I had not seen in the past. I have chosen two assignments that are clearly within my comfort zone, keeping an online blog and analyzing a case study. My third choice is the mock interview assignment. This is the kink in my Management 250 armor. The thought of going in front of a recruiter makes me very anxious. I imagine my feelings are similar to someone to going to court and being judged.
I have difficulty understanding how recruiting for a job actually works. Of course there are the clearly undesirable or unqualified candidates that will be gleaned immediately, based solely on their resume. But once the interviews begin, clear cut objectivity is lost. If an interviewer has several very qualified candidates for one place in the company, how does he or she choose? All of the candidates have similar experience in the field, especially if they are all interviewing right out of college, which is the position I will be in three years from now. Will it be the color of my shirt that sets me apart? Will the crease in my resume lose me the job?
The interviewing process is something I have very little control over. Even if I answer every question completely and politely, wear a clean suit, and have a reviewed resume in hand, I may not get the job.
Maybe, in fact probably, I am looking at the job interviewing process the wrong way. It is an opportunity not only for the company, but for the potential employee, to see whether he or she will fit into the position. After searching for interview tips online I found a site provided by Monster that addresses these same issues. You can see it here. If you are having these same concerns take a look.