Relationship Between Management Theory Business Essay

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There has been a strategic move in the practice as an analytical tool for management theories in recent years. According to Brownlie et al (2007) there is huge gap between the theory and practice such as in accounting management; the gap between the theory and practice is typically employed by the interlocking cultures. A set of rhetoric employ has been constructed the relevance which is innocent and transparent terms in relation of theory and management practice in realty of the managerial work. Baker, (2005) argued that the gap between the highly general principles in the concrete situation produced by the educational theory and abstract teaches generally in the classroom had closing gap between the practice and theory. It is sometime sufficient to develop the diversity in understanding the relationship between the theory and practice.

Further the experience in the relevance discipline sometime related to the stakeholder and other profession. Therefore relevancy is only the strategy to close the gap between the theory and practice and can be seen over a site of contestation. The crisis emerged from the gap between the management theory and practice created big chaos especially for the newly developed manager who tries to imply the theory into the actual situation but failed since the actual practice and situation is completely different from the bookish knowledge. Therefore to bridge the gap between theory and practice, it is essential to provide more of the practical knowledge through case study discussions in the class rooms, live workshop, arrangement of lectures from the industry personnel. It will not only develop the knowledge but also provide the deeper insight in handling the management issue with in the company. The theory practice axis is considered as the critical development in resolving the management issues (Holbrook, 2005).

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In order to understand the balance between the practice into theory and theory into practice, it requires constructing the relevance in business and management subjects. The relevance of the current notion is located across the historical development of the accoutrement and apparatus for the purpose of management research and disciplined knowledge in the domain of education based and knowledge making for social production. The processes and institutional structure is the governing body of producing the knowledge in the management functionalities and also evolved over a fixed period of time. It also gives the response to the questions related to the work, practice, time and quality of theory and practice. It has been argued that despite being the pressure in developing the relevancy in the management, the current understanding of relevance strategy is requiring performance and accomplishment for the growing demand if accessibility and accountability. Jarzabkowski, (2004) argued that the bridging the gap between theory and practice, it is merely the knowledge development and assertion of the applicability for declaring the problem into practice. It is a compelling issue for apparent silence and senior management journals for the managerial implications. It would be essential to understand the significance of education development and how it can be utilized into actual situation.

2. Explain the main difficulties in studying personality; how is this of importance to organizations?

Spence et al, (2006), argued that the personality development and knowledge are two different factors however there is a deep relationship between these two factors. Few of the researches argued that personality is encoded into the human gene and difficult to change. On the other hand most of the researcher suggested that this might not be the case as they argued that despite being encoded into the gene, some of the personalities are dynamic and flexible. Over a period of life span, the personality of a person can be changes and it takes the shape through experience of the life (Weiner & Schneider, (2001).

According to Yovel et al, (2005) most of the people have belief that the nature and working is the mental representation for the personality development. Human development, beliefs, representation and theorists are the major factors in studying the personality therefore it are difficult to understand the personality. As per the findings of the researcher Mary Rothbart, more than the pattern and temperament, personality contains the habitual behavior and significantly improves the perception towards the personality. In contrast Jack Block a theorist stated that the model of self relationship and self defines has deeper linkage in studying the personality (Shadish et al, 2002). In addition to this it can be further customized through motivation, organizing and life defining experience as a central part in developing the personality. The development of personality needs to be encoded into the schemas, models, premise system and internal models from the socialized experiences (Revelle and Anderson, 1992). Personality is an important function for the company since it enables the individual in the companies with the values, emotion, attitude, stress, ability and motivation.

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Rafaeli & Revelle (2006) stated that the role of personality is to develop the attitude within the individual to achieve the desired goals and objectives of the company therefore it is a set of situational factors. Personality is the stable set of psychological characteristics which has strong power of influencing the way pf communication or interaction with the other individual. Based on the personality attributes, an individual in characterized for a particular job and also considered as leader or follower. For some organizations, the personality traits are important for the company depending on the situation. The employee diversity must be appreciated by the manager since there is no best personality except manager's personality for a company. Personality provides a key concept for putting right people at right place. In this way, personality definitely has the role of punishment contingency and weak reinforcement of the employee. According to, there are the five big dimensions of personality as listed below:

Neuroticism

Extraversion

Openness

Agreeableness

Conscientiousness

Each of these five dimensions explains the personality and relevancy to the organization. Neuroticism defines the anxious, emotional aggressive and worried stage of an individual. Extrovert explains about the social, talkative and active nature of an individual. Openness explains the curiosity, thinking power, share of ideas and broad minded ness of an individual. Agreeableness defines the interpersonal relationship of an individual. Conscientiousness defines the degree at which an individual is characterized fro hard work, disciplines, carefulness and willingness to work (Zinbarg et al, 2005).

3. In what ways can an understanding of motivation theory contribute to successful organizational working? Illustrate your key arguments with organizationally based examples.

In the view of Bandura and Cervone (2006), motivation is an integral part of human resource management and human resource management is the only function which looks after the employee need, job satisfaction level, and motivation and employee engagement. The objectives and goals of the company are based on the inspiration of the workers. Therefore motivation is essential for the company to increase the employee work efficiency, affluence and presentation of every business. Motivation among employees can be achieved through rewards and recognitions, cash incentives, addressing the problem of the employees and inspiring the employees. The worker's inspiration is an owner input to be provided to the employees to generate the desired output. This input works like enticement and implicit which is also provided in theory X and theory Y of motivational theory. Kanfer and Ackerman (2005) argued that the incentive plan for the employees is an extended mode of motivation which is considered based on the employee experience and respected values. The inspiration is inversely embarked by the worker motivation and facilitates only by the management personnel in the company. The employee motivation increases the worker efficiency and pursues the predictable values in the working management of the company. Employee motivation is the major input required within the company to achieve the desired goals and business objectives (Bandura, 2008). In addition to this the high motivation among employees signifies that the employees are preserved in the company and corporation devotion. This would have significant expansion and growth of the employees. Inducements and prizes are different from each other since each of these has its won potential and values to provide motivation to the employees.

For the successful and efficient working, motivation plays an important role. This argument can be supported by illustrating various industry examples.

In 1999, the senior management in Maruti Suzuki India announced strikes and lockouts will be punishable act and if it result low productivity in the organization then the employee will not be paid for the month. All of the employees at production site were highly de-motivated with the decision and policy of the senior management. In that year there was no lockout or strike happened in the organization however there has been a significant decline in the productivity and sales within the same year (Brown and Latham, 2000). The board members and senior management was stressed to determine what the causes behind the low productivity and sales are. Most of the labor at production site was on leave and this has influenced the lower management people. Due to absenteeism, the production rate in the company was fallen down significantly which was responsible for high cost of material and inventory. Senior management appointed a team to determine the internal issues within the company (Klein et al, 2007). The team has identified that the employees at Maruti Suzuki are not satisfied with the company policies and decisions from senior management due to which there was high absenteeism within the company. Due to high absenteeism, there was low productivity and decline in the sales since the market demands were not met. Based on the findings, senior management develops a new policy in which the company introduced performance based incentive and annual bonus. In addition to this the company addresses the reward and recognition to the employees for their hard work and performance. These announcements have increased the motivation among the employees and in subsequent year the company registered a significant growth in the revenue and efficient & high productivity (Brown and Latham, 2000).

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Another instance was happened in Standard Chartered bank in 2003 when the company established its partnership with Bajaj Alllianze. The company has entered into this partnership as an agent for the insurance company to sell its insurance policy and generate commission to be added into the bank's revenue (Bandura, 2008). The company has increased immense pressure on its sales people and incentive structure was designed in a manner that if insurance policies were not sold by any of the sales individual, there will be no incentive for the sales people. It leads high de-motivation among the sales people in Standard Chartered bank. It was notified that the sales team was unable to meet the sales targets which had impact on the low productivity, high attrition and low of sales of the bank products since sales people were focusing to sell out the insurance policies. Also the insurance was not so popular in the country like India therefore it was difficult to convince a person to buy insurance policy Bandura and Cervone, 2006). The management then identified this issues and restructured the incentive scheme in which the incentives of bank products was separated from the incentives for insurance policy though the incentive were high for the sale of insurance policy so that the employees are motivated towards selling the insurance policy. Also the bank runs a campaign in which the company has offered 1st prize at each branch to meet the quarterly sales target. Under the 1st prize the bank offered a holiday trip to Macau and lunch with the CEO of the bank. Within the subsequent quarter of the year, the bank achieved a significant growth in the sales targets, low attrition rate and high satisfaction. In this way the bank was successful in meeting the sales target and achieves the desired level of productivity through motivation (Kanfer and Ackerman, 2005).

In order to increase the employee motivation it is essential to have the varied prizes and incentives to be provided to the employees. In order to increase the worker motivation it is important to have the varied incentives. Motivation in the organization therefore works like a catalyst which has power to increase the level of satisfaction among the employees and increase the work efficiency to meet the organizational goal (Knight et al, 2001). Motivation is also the part of organizational behavior which is judged by the employee attitude and belief. There are few moments which are shaped for the workers and employees to get the desired outcome and inducement planning. Stimulating the workers through incentive creativity is also worked as motivational factor. The follow up with the employees through motivational approach ensures the loyalty and work place agreement to perform the task efficiently within the company. There are some tools identified to increase the motivation among the employees (Kanfer and Ackerman, 2005). These tools are:

Praise

Goals

Disciplinary and Workplace Guidelines

Work Environment

Incentives

Praise is an effective tool to increase the motivation among employees of the company. The senior management in the company needs to understand how to execute this tool to increase the employee motivation and achieve the desired level or productivity and meeting the organizational goals and objectives. Admiring the work of employee feel employee happy and motivate him towards the better work since he has developed a confidence himself that he is doing right job and also justifying his salary (Bandura and Cervone, 2006).

Organizational goal is also an effective tool for motivating the employees. If the senior management in the company is capable enough and effectively communicate the employees about how the organizational goals will also beneficial for the personal growth of the employee, it might have significant influence of increasing the employee motivation. Practical goals are capable enough to increase the employee motivation which has immobile sense and ready to meet the organization objective and goals (Kanfer and Ackerman, 2005).

If talk about the discipline and workplace guidelines, it can be used to develop the pleasant working environment in the company which provide a feel of cultured work environment and employees get motivated towards their work. Sometime it has been observed that the inspiration has completely different approach to motivate the employees. The employee appearance in management decisions may increase the feel of employees towards its importance in the company and automatically the employee will feel happy and motivated (Knight et al, 2001).

The working environment is also an important tool for motivating the employees. As discussed earlier in this section, the pleasant working environment can be achieved through discipline and workplace policy development. It has been identified that the atmosphere, infrastructure and most importantly the culture in the organization has an integrated potential to keep the employee motivated (Brown and Latham, 2000). The organizational culture brings together the values and provided the sense of policies, work culture, supervision approach, employee employer interaction and lastly the overall approach of the company to undertake the decisions. It the work culture in an organization is not ethical and bad, it leads higher level of dissatisfaction among the employees. Certainly, it has been identified that a creative job atmosphere need supervision that is talented to confidently inspire their workers in an infrastructure that is acquiescent to workers' requires (Knight et al, 2001).

The motivation of workers is possibly the major driver of organizational presentation. Eventually any company's means differentiator is from their person advantages, in further statement their workers. While methods, procedures and infrastructures can be imitated through one business to new business, individual assets cannot. A business which is capable to inspire their workers and keep up it is capable to power it's constrain and enthusiasm in regarding to make sure stellar performance. Worker inspiration and worker efficiency can be difficult (Bandura, 2008).