BEH WK 5 CP - competitiveness in a small business On the...

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In the increasingly competitive business environment of recent years, finding ways to motivate employees has become a pressing concern for many managers. In fact, a number of different theories and methods of employee motivation have emerged, ranging from monetary incentives to increased involvement and empowerment. Employee motivation can sometimes be particularly problematic for small businesses, where the owner often has spent so many years building a company that he/she finds it difficult to delegate meaningful responsibilities to others. But entrepreneurs should be mindful of such pitfalls, for the effects of low employee motivation on small businesses can be devastating. Some of the problems associated with unmotivated workers include complacency, declining morale, and widespread discouragement. If allowed to continue, these problems can reduce productivity, earnings, and
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Unformatted text preview: competitiveness in a small business. On the other hand, small businesses can also provide an ideal atmosphere for fostering employee motivation, because employees are able to see the results of their contributions in a more immediate way than in large firms. Besides increasing productivity and competitiveness, a highly motivated work force can allow a small business owner to relinquish day-today, operational control and instead concentrate on long-term strategies to grow the business. Moreover, a business that institutes effective ways whether tangible (such as a financial bonus) or intangible (say, a plum assignment for an upcoming project of rewarding employees for good work can be an invaluable tool in employee retention. People enjoy working, and tend to thrive in organizations that create positive work environments....
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