09 BUS 444 Chap 9

In over four decades of operation wal mart managed to

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Unformatted text preview: ervasive culture at the company, which was developed and nurtured by founder Sam Walton. • In over four decades of operation, Wal-Mart managed to retain most of the elements of culture it had when it first started out, as well as the entrepreneurial spirit which often drives startup companies to success. 9-20 Sustaining an Effective Culture • Effective culture must be • Maintaining an effective culture Cultivated Storytelling Encouraged Rallies or pep Fertilized talks by top executives 9-21 Motivating with Rewards and Incentives • Rewards and incentive systems Powerful means of influencing an organization’s culture Focuses efforts on high-priority tasks Motivates individual and collective task performance Can be an effective motivator and control mechanism 9-22 Motivating with Rewards and Incentives • Potential downside Subcultures may arise in different business units with multiple reward systems May reflect differences among functional areas, products, services and divisions 9-23 Characteristics of Effective Reward and Evaluation Systems 9-24 Setting Boundaries and Constraints • Focus efforts on strategic priorities • Providing short-term objectives and action plans Specific and measurable Specific time horizon for attainment Achievable, but challenging 9-25 Setting Boundaries and Constraints (Continued) • Improve operational efficiency and effectivenes...
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