...Usually the tangible rewards that people receive from employment come in the form of salary, incentives and benefits. Also the tendency in the past was to have reward systems implemented for individual employees. However when the company with its diversification plans in mind went from traditional top-down approach to a better way, horizontal matrix system, the new concept of ‘team work” emerged. As stated below it is how Behlen Manufacturing Company in Columbus, Nebraska USA, has implemented their unique methods of rewarding systems and became the industry leader in customer satisfaction.Behlen has identified their most valuable asset as their employees thus naming them as “Partners in Progress” in all their articles. Founders of this company have understood that when they make the customer better-off; they themselves be better-off too. Further they firmly believed that for them to help them to grow, they have to pass on to the team “the heritage of Behlen”, the strength of work ethic and the entrepreneurial spirit of the earlier culture.According in Behlen Company they have implemented three major rewarding systems:1). Gain Sharing – where all members share a usually fixed percentage of the documented savings or performance gain accomplished by the team. They earn monthly gain sharing up to $ 1an hour when a respective team meet a productivity goals.Eg. Being in a group that makes grain tanks, from the start of the process until the end of same, over all shifts, and during...
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...communication 7 4.0 References8 1.0 “People leave when they don’t feel appreciated. That’s why we’ve made recognition a really high value. Our business is people-capability first; then you satisfy customers; then you make money.” ~ David Novak, CEO of YUM! Brands Employees at Behlen Company have the opportunity to benefit from an incredible reward scheme. This reward scheme has been primarily broken down in a fixed scheme and a variable scheme. Behlen Company Reward Scheme | Based Pay Approach – Employees at Behlen receive fixed rate of $8 per hour for every hour of work. | Group Pay for Performance – * Profit Sharing * Gain Sharing * Employee Stock Ownership Plan | * Profit Sharing: Behlen distributes 20% of the annual profit made by the company among the employees. This would allow employees to directly contribute towards profitability of organisation which would enable them to increase their personal stake. * Gain sharing: This would enable employees to get rewarded based on productivity levels achieved as a team. Behlen employees can earn up to $1 additionally monthly based on the productivity levels they achieve as a team. * ESOP: Each employee at Behlen Company is provided...
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...the tangible rewards that people receive from employment come in the form of salary, incentives and benefits. Also the tendency in the past was to have reward systems implemented for individual employees. However when the company with its diversification plans in mind went from traditional top-down approach to a better way, horizontal matrix system, the new concept of ‘team work” emerged. As stated below it is how Behlen Manufacturing Company in Columbus, Nebraska USA, has implemented their unique methods of rewarding systems and became the industry leader in customer satisfaction. Behlen has identified their most valuable asset as their employees thus naming them as “Partners in Progress” in all their articles. Founders of this company have understood that when they make the customer better-off; they themselves be better-off too. Further they firmly believed that for them to help them to grow, they have to pass on to the team “the heritage of Behlen”, the strength of work ethic and the entrepreneurial spirit of the earlier culture. According in Behlen Company they have implemented three major rewarding systems: 1). Gain Sharing – where all members share a usually fixed percentage of the documented savings or performance gain accomplished by the team. They earn monthly gain sharing up to $ 1an hour when a respective team meet a productivity goals. Eg. Being in a group that makes grain tanks, from the start of the process until the end of same, over all shifts...
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...Master of Business Administration June 2015 – October 2015 PPMG 100 ORGANIZATIONAL BEHAVIOR Individual Assignment 2 Lecturer : Sanjeeva Perera Due date : 29th September 2015 Marks Allocated : 20% Case Study: Rewarding Teamwork in the Plains (Attached Behlen Company-history book) In the past, most rewarding systems have been geared to the individual employee. However, with the emergence of teams in most of today’s organizations, systems are being revamped to reward teamwork. A good example is Behlen Manufacturing Company in Columbus, Nebraska. The 1,100 mostly production employees are organized into 32 teams. Some of these teams have only a handful of members, whereas others have as many as 60. Although each individual receives a base-pay component, which comes to about $8 an hour, the rest of the compensation is variable and is determined in a number of different ways, including how one’s team is performing. The centerpiece of the manufacturing company’s variable–reward plan is gain sharing, an increasingly popular form of compensation whereby all members share a usually fixed percentage of the documented saving or performance gain accomplished by the team. Behlen employees can earn monthly gain sharing of up to $1 an hour when their teams meet productivity goals. The CEO explained this team reward system as follows: “If you’re in a group that makes stock tanks, for example, from the start of the process to the end of the process, over all...
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...the tangible rewards that people receive from employment come in the form of salary, incentives and benefits. Also the tendency in the past was to have reward systems implemented for individual employees. However when the company with its diversification plans in mind went from traditional top-down approach to a better way, horizontal matrix system, the new concept of ‘team work” emerged. As stated below it is how Behlen Manufacturing Company in Columbus, Nebraska USA, has implemented their unique methods of rewarding systems and became the industry leader in customer satisfaction. Behlen has identified their most valuable asset as their employees thus naming them as “Partners in Progress” in all their articles. Founders of this company have understood that when they make the customer better-off; they themselves be better-off too. Further they firmly believed that for them to help them to grow, they have to pass on to the team “the heritage of Behlen”, the strength of work ethic and the entrepreneurial spirit of the earlier culture. According in Behlen Company they have implemented three major rewarding systems: 1). Gain Sharing – where all members share a usually fixed percentage of the documented savings or performance gain accomplished by the team. They earn monthly gain sharing up to $ 1an hour when a respective team meet a productivity goals. Eg. Being in a group that makes grain tanks, from the start of the process until the end of same, over all shifts...
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...In the past, most rewarding systems have been geared to the individual employee. However, with the emergence of teams in most of today’s organizations, systems are being revamped to reward teamwork. A good example is Behlen Manufacturing Company in Columbus, Nebraska. The 1,100 mostly production employees are organized into 32 teams. Some of these teams have only a handful of members, whereas others have as many as 60. Although each individual receives a base-pay component, which comes to about $8 an hour, the rest of the compensation is variable and is determined in a number of different ways, including how one’s team is performing. The centerpiece of the manufacturing company’s variable–reward plan is gain sharing, an increasingly popular form of compensation whereby all members share a usually fixed percentage of the documented saving or performance gain accomplished by the team. Behlen employees can earn monthly gain sharing of up to $1 an hour when their teams meet productivity goals. The CEO explained this team reward system as follows: “If you’re in a group that makes stock tanks, for example, from the start of the process to the end of the process, over all shifts, all month long, if the team achieves certain levels of productivity, each of its members is rewarded anywhere from 0 cents to $ 1 an hour for every hour worked in that area. ”Documentation of the gains is based on actual pounds of products, so that everyone on the team knows exactly how well their team...
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...Strategic Planning: What does it Mean?, and How is it done Effectively? Most business owners or managers recognize that a strategic plan is a directional map for where their companies are headed and how they intend to get there. However, it is much harder for them to understand what goes into the strategic planning process, how the strategy-making task is best performed, and the full impact of the process the planning team goes through to develop the strategic direction of their organization. Strategic planning is best done when a company looks at its past, present, and future in light of its related environment. It is the process of thinking about the company and its related environment as an integrated whole. A process during which an executive "planning team" is organized to consider three key questions on a continuous basis: 1. What is our business? 2. Where do we wish to arrive, and when? and 3. How do we get from here to there? In a personal interview, Karen Poppe, Vice-President of Human Resource Management at Wall Drug, discussed the importance of organizing a strategic planning team to guide the long-term direction of a company. The planning team at Wall Drug consists of six key management people covering finance, personnel, and marketing. Clearly the success of those planning efforts is reflected in Wall Drug's average annual growth rate of 25% over the last five years. What is our...
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...CHAPTER 9 RISK AND RETURN FOCUS Our initial focus is on defining risk in financial terms and understanding how that concept fits into portfolio theory. As we gain a more sophisticated understanding of risk, we're able to focus on the concept of beta and how to apply it through the SML. PEDAGOGY The study of Risk and Return presents the biggest pedagogical challenge in basic finance. Therefore motivating the study and developing ideas patiently is especially important. Students are easily confused early in the discussion by the transition from the everyday notion of risk to its financial representation as variation in return. We therefore take pains to present these ideas carefully through an intuitive illustration. Risk and Return is also the area in which textbook treatments using mathematical statistics get students who aren't good at math into the most trouble. The approach used here presents statistical concepts graphically and in words to overcome this pedagogical roadblock. It's worth noting that while we minimize the statistics used in the theoretical development of the CAPM, we don't skimp on the algebraic math required to apply the SML. TEACHING OBJECTIVES Instruction should begin motivating the study of risk and return by explaining that higher long-term returns are available on equity than on debt but that there's an associated risk. Point out that the objective of investing is to take advantage of the high...
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