Compensation and Organizational Strategy Essay - Business 357

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This essay delves into the multifaceted nature of compensation within a business context, examining its potential to both positively and negatively influence employees. It explores the impact of compensation on motivation, job satisfaction, and organizational strategy, particularly within rapidly evolving industries. The essay presents a consultant's perspective on organizational strategies tailored to meet the challenges of a dynamic market. Furthermore, it analyzes employee reactions to reward dissatisfaction and applies the job characteristics model to assess motivation within an organization. The essay concludes by emphasizing the importance of considering the '3 P's' of sustainability – profits, people, and the planet – to achieve long-term success and highlights the need for effective compensation systems to attract and retain employees while fostering a sustainable business model.
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Compensation
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Answer
1. Compensation is given to employees in return for their services and it is for productive
workforce. It includes a system for key strategic variables for supporting and managerial
strategies. Usually compensation is always seen as the positive influencing factor but at
what level this is true. The social values and financial values affect the employees and
employers thinking about the compensation hence these two factors can never stay at
same place. Positive impact of the compensation is it brings motivation and enthusiasm in
the employees and makes them able to work under extreme pressure to handle the risk
with effective performance. On the other side it cause loss by creating competition among
the followers, loss the social values and the feelings beating the challenge sometimes
harm the emotional attachment among the staff because compensation indirectly put the
race to come first and beat others.
2. For the company, the effective organizational strategy can be managerial strategies which
include the classical, human relations and high-involvement managerial strategies. These
strategies are designed with the techniques and tools directing the employees with the
proper guidance and human relation of the employees. Managerial strategies include
innovative ideas to innovate the change in the management and employees working
activities. Everyone have unique characteristics and these characteristics are valued for
others, and organization always performs its task to support the social development of the
society. For the evolving customer's needs, communication and information must be
provided to employees in a form of formal, vertical and top-down for understanding the
employees.
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3. Dissatisfaction affects the employees and organization on the equal basis. The reward
dissatisfaction observed among the three employees was giving result to the reaction of
the behavior in the following terms; Job stress, Customer retention and High rate of
turnover. When the employees are dissatisfied with the rewards which are provided to
them will impact their performance as they reduce their job duties and relive them from
difficult duties and reduce their efforts towards work and take longer breaks, spend more
time on social media. Dissatisfaction from reward cause stress in the employees and this
also lead the health issues and lead the numbers of leave increased this reduce the
productivity. Hence if you want to take something than you need to deliver something
good like if you want fruits you need to plant seeds of better quality.
4. Job characteristic model (JCM) was introduced by Hackman and Oldham, this model
purely relies on the idea of the motivation as the essential tool. One who have something
unique is not for him but for the welfare of others, like river never =drinks their water,
tree never eat their fruits just like that if one have value then it must be spend for the
others. This model put the efforts to create the variation and challenges in the job these
challenges are the enablers moving a job towards success. A performance is measurable
on the basis of its intention, skills used, efforts involved and result accomplished.
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ESSAY
In business, for earning profits it is necessary to think about the other things and not just the
bottom line. The values must be considered for the profits, the planet, and people. Social
entrepreneurs use businesses to create value beyond profits. The different types of values
influence organizations, individuals and societies.
A business is not meant to earn the profitability, basically an enterprise doing the business is
seen as the profit making and the success of a business is always assumed to be measurable on
the profit it make, but this all is not real. Only profit is not the aim for the business but to deliver
ones best to the improvement of the people living and development of the planet where it survive
are moral, ethical and essential duties of an organization.
Sustainability is the main goal for businesses, non-profit organizations, and government for
pursuing sustainable growth in the market. Triple bottom line includes the measure of profits,
ROI and shareholders' value which also includes the environmental and societal dimensions. The
interrelated dimensions for entrepreneurs must be ensured for supporting sustainability goals are
profits, people and the planet. In the valuation systems, the management strategies which are
required in the business are the classical, human relations and high-involvement managerial
strategies.
Sustainability is the major emerging trend that is not the rules or regulation to follow but the
responsibilities one have involved in the every step of the performance of the organization. The
concept of real value for the economic include more than money like social responsibility and to
manage the proper contribution towards sustainability. Everything is not immediate but the real
value take the time hence the patient in the activities to gain the profit is not immediate but its
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effect remains for long time and give positive outcomes as the sustainably developed individual,
organization and society as well.
Every business requires sustainability in different ways as the natural environment provides
various benefits to the people and it’s the responsibility of every individual to serve the
environment. Profits are considered as the metric of sustainability. It is essential in business to
create wealth by serving. All the profits which are created are not good but those who create
social benefits are better for the entrepreneurs. It is essential for understanding the requirements
of the business and compensation system can be adopted for motivating the employees. The
requirement of the business must be sustainable business as it helps first to pay it and helps in
sustaining ourselves. It is necessary to understand the behavior of business.
Every business can adopt the strategy for sustaining and helps the planet, people and making
profits. It is possible in every business to serve the environment in any way. Every employee
must be paid according to their work and make them understand about the sustainability of the
business. Integrity is essential for society. It is essential to create trust in the customers and
employees for their satisfaction. If people start trusting the business it will help in creating
business effectively. Consider the feedback from employees and customers for their satisfaction
and improving performance. Implementation of effective compensation system helps in
attracting employees.
To conclude the discussion, it is analyzed that the businesses require the other techniques for
sustainability and just not focus on the bottom line. For the costs and benefits, it is necessary to
consider the 3 p’s of sustainability which are profits, people and the planet. It helps in
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influencing individuals, organizations and societies. Every industry will be effective if different
frameworks will be adopted for sustainability.
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