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Learning Objective: Explain why different people are motivated by different things.
Summary: The goal of this exercise is to give students practice aligning individual and organisational goals, and thinking like a manager in managing employee motivation. Imagine that you are the management team of a new retail clothing store named Threads. Your company's business strategy is to provide high-quality customer service and to provide high-quality products. You are not the cheapest store in town, but you expect your employees to doa service-oriented atmosphere that customers will be willing to pay a little extra for. You recognise that your sales staff will be essential to your store's success, and you want to doa system that motivates them to help to do competitive advantage for your business. Because this is the first store you have opened, you have the opportunity to decide how to best motivate your staff. Market-competitive starting salaries have already been established, but you have decided to allocate 10 percent of the stores' profits to use to motivate your sales staff in any way you see fit.
Task: should answer the following questions:
1. What behaviours would you want from your sales staff?
2. What goals would you set for your sales staff, given your answer to Question 1?
3. What type of system would you set up to reward these behaviours?
4. What challenges would you be on the lookout for? How would you proactively address these potential challenges to prevent them from happening?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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