Essay A vast majority of different organizational theory perspectives has been developed through the process of economic evolution. Various scholars and businessmen advocate for different organizational management approaches and understandings of this concept.
Michael L Nieto Paper Type: Both financial and non-financial rewards were included in the discussion in this essay. Reward system has three basic functions, to attract, retain and motivate people.
Further it offers different financial and non-financial benefits that are designed to accommodate different people with different preferences, on the basis of cafeteria reward system. Company is offering performance pay based on merits, both for management and other staff.
The main recommendation is in line with the last finding, namely, the company needs to further engage in creation of good life balance.
Human resource management is defined as a coherent way of people that individually or collectively contribute to the objectives of the company Armstrong, Reward management, as a way of Motivation and rewards of apple inc business essay the employees using financial or non-financial means, is designed to attract, retain and motivate workers in a company.
The philosophy of implemented reward system in organization addresses long term issues of how people should be valued for their work. The purpose of this study is to evaluate the reward system practices in Apple Corporation and offer recommendations for its improvements. In that respect different aspects of rewards will be examined, such as motivation, performance pay, work-life balance and cafeteria reward system.
Apple was founded in by Steven Jobs and Stephen Wozniak, college dropouts at the time, which soon became successful entrepreneurs. Today the company is synonym for innovation, design and technology, as their products are known as the best and usually first introduced to the market.
In the first chapter the rewards and motivation would be discussed. Further the cafeteria reward system and its application in the company is going to be evaluated. The importance of performance pay and practices would be further discussed.
In the fourth segment the work life balance is going to be evaluated. The essay would be concluded and offered several recommendations in the final chapter.
Also, reward systems can be designed to develop employee skills, or according to Lawler to reduce absenteeism by linking bonuses to attendance. However, there are few more aspects of the reward systems that need to be considered. Moreover, it should be competitive to the external environment in order to attract and retain the best workers in the field.
Therefore, there is a need to understand what motivates people and how.
In the next paragraphs, few of them would be briefly discussed. Maslow developed a hierarchy of need, dividing human needs in five distinct stages in the hierarchical order. He developed a framework where the higher order need could be satisfied only if the lower order needs are already satisfied.
The first, basic level is the physiological needs, such as thirst or hunger. If the person is deprived of all need he would seek for satisfaction of these biological needs.
The second level consists of safety need, and come in question only when physiological needs are satisfied. Third level is the need for belongingness, love and affection, as people are seeking to overcome the feelings of alienation or loneliness.
When first three stage are satisfied, the need for self-esteem and esteem are becoming dominant, such as success, prestige and the wish to perform.
Further level is self-actualization, which consists of understanding the world, achieving independence, creativity, individuality, acquiring wisdom, etc. Namely, it offers competitive salary, that is more than enough to meet these needs, providing the reasonable refreshment brakes during the job and good working environment in the aspects of facilities.
According to Edwards the company is even offering to part time employees that were with the company over the year, full time medical insurance. Company is rewarding its employees with pensions and sickness schemes as well as flexible spending accounts for health care and dependent day care Apple, Apple Corporation is also seeking way to satisfy the needs of belonging of its employees.
The company is additionally offering personal and family counselling Apple, Hughes argues that the employees feel they are a part of something bigger, some idea and goal that is going to change the industry.
High productivity employees and even part time employees that stayed with the company over the year, have significant benefits of being productive. Even the unsatisfied employees with the working conditions argue that the perks and benefits in the Apple are very good Edwards, One of the biggest motivators of Apple is, according to Fiegerman the belief that their employees have significant impact on the world.
Arguably, Apple offered a good ground for self-actualization needs. Company enables its employees to further develop 8 their career path Moreno, Moreover, it is a company that is still growing and where employees are working with really smart colleagues in an environment that have more similarities to a start up than the big corporation.Extrinsic motivation uses external rewards such as money, gifts and recognition to motivate the employees.
Apple are able to attract and also gain loyalty from their employees through these types of rewards. For example, Apple, which is considered the most innovative and admired company in the world (BusinessWeek, ; Fortune, ), attracts and retains employees in part owing to the benefits, or expected and non-performance related incentives, it offers, such as product discounts or insurances (Apple, ).
Influence of leadership on motivation in an intercultural context. Illustrated by the comparison of the leadership styles of Steve Jobs and Tim Cook (Apple Inc.) - Carina Reinfeld - Term Paper - Business economics - Business Management, Corporate Governance - Publish your bachelor's or master's thesis, dissertation, term paper or essay.
Apple Inc. is a multinational technology company that designs and creates iPod and iTunes, Mac laptop and desktop computers, the OS X operating system, and the revolutionary iPhone and iPad.
In April 1, Apple’s headquarter based in Cupertino, California, USA and was founded by Steve Jobs, Ronald Wayne and Steve Wozniak, . Expectancy is the effort-performance linkage; instrumentality is the performance-reward linkage; and valence is the attractiveness of the reward.
Expectancy Theory applied in Apple Inc. Apple Inc. uses expectation theory to motivate the employees to achieve the goals which are measureable, attainable and specific. Nov 09, · Leadership and management styles of Apple Inc Essay This paper is about the leadership style adopted by the management team of Apple during a period of changes and the management changes within the organization and the cultural obstacles faced by senior management during the process of change.