Rewarding Value-Creating Ideas in Organizations

Rewarding Value-Creating Ideas in Organizations
Author: Oliver Baumann
Publisher:
Total Pages: 0
Release: 2014
Genre:
ISBN:

Ideas from employees are a major source of value creation in firms, yet the merits of rewards for incentivizing the generation of ideas are highly contested. Using a computational model, we show that firms can improve performance by offering low-powered rewards for the selection and implementation of employee ideas. Low-powered incentives provide a sufficient stream of good ideas, but few exceptional ones. Higher-powered incentives, in contrast, do not systematically translate into exceptional ideas either, but generate an excessive number of good ideas. Performance-based rewards thus appear to be a blunt tool to harness the long tail of innovation. We develop propositions to guide empirical research and discuss their implications for strategy and organizational design.

Drive

Drive
Author: Daniel H. Pink
Publisher: Penguin
Total Pages: 275
Release: 2011-04-05
Genre: Business & Economics
ISBN: 1101524383

The New York Times bestseller that gives readers a paradigm-shattering new way to think about motivation from the author of When: The Scientific Secrets of Perfect Timing Most people believe that the best way to motivate is with rewards like money—the carrot-and-stick approach. That's a mistake, says Daniel H. Pink (author of To Sell Is Human: The Surprising Truth About Motivating Others). In this provocative and persuasive new book, he asserts that the secret to high performance and satisfaction-at work, at school, and at home—is the deeply human need to direct our own lives, to learn and create new things, and to do better by ourselves and our world. Drawing on four decades of scientific research on human motivation, Pink exposes the mismatch between what science knows and what business does—and how that affects every aspect of life. He examines the three elements of true motivation—autonomy, mastery, and purpose-and offers smart and surprising techniques for putting these into action in a unique book that will change how we think and transform how we live.

Organization Design

Organization Design
Author: John Joseph
Publisher: Emerald Group Publishing
Total Pages: 354
Release: 2018-12-10
Genre: Business & Economics
ISBN: 1787563308

Advances in Strategic Management is dedicated to communicating innovative, new research that advances theory and practice in Strategic Management. This volume focuses on organization design and collaborative ways of working.

The SAGE Handbook of Industrial, Work & Organizational Psychology

The SAGE Handbook of Industrial, Work & Organizational Psychology
Author: Deniz S Ones
Publisher: SAGE
Total Pages: 1236
Release: 2017-12-04
Genre: Psychology
ISBN: 1473942845

The third volume in The SAGE Handbook of Industrial, Organizational and Work Psychology concentrates on business decision-making and the many factors influencing the adoption and implementation of IWO practices. Chapter topics include utility assessments of interventions, decision-making errors in IWO systems, large-scale interventions and best practices reviews. Volume Three offers a comprehensive overview of the field for anyone working in or studying managerial or organizational psychology.

Healthcare Kaizen

Healthcare Kaizen
Author: Mark Graban
Publisher: CRC Press
Total Pages: 408
Release: 2018-06-08
Genre: Business & Economics
ISBN: 143987297X

Healthcare Kaizen focuses on the principles and methods of daily continuous improvement, or Kaizen, for healthcare professionals and organizations. Kaizen is a Japanese word that means "change for the better," as popularized by Masaaki Imai in his 1986 book Kaizen: The Key to Japan‘s Competitive Success and through the books of Norman Bodek, both o

The Microstructure of Organizations

The Microstructure of Organizations
Author: Phanish Puranam
Publisher: Oxford University Press
Total Pages: 218
Release: 2018
Genre: Business & Economics
ISBN: 0199672369

Research on organization design is central to the field of management, and closely allied to the sub-field of strategic management. This book synthesizes a decade of research by the author into the fundamental issues in organization design, and presents it in the form of a new perspective (known as the micro-structural perspective).

The Progress Principle

The Progress Principle
Author: Teresa Amabile
Publisher: Harvard Business Press
Total Pages: 270
Release: 2011-07-19
Genre: Business & Economics
ISBN: 1422142736

What really sets the best managers above the rest? It’s their power to build a cadre of employees who have great inner work lives—consistently positive emotions; strong motivation; and favorable perceptions of the organization, their work, and their colleagues. The worst managers undermine inner work life, often unwittingly. As Teresa Amabile and Steven Kramer explain in The Progress Principle, seemingly mundane workday events can make or break employees’ inner work lives. But it’s forward momentum in meaningful work—progress—that creates the best inner work lives. Through rigorous analysis of nearly 12,000 diary entries provided by 238 employees in 7 companies, the authors explain how managers can foster progress and enhance inner work life every day. The book shows how to remove obstacles to progress, including meaningless tasks and toxic relationships. It also explains how to activate two forces that enable progress: (1) catalysts—events that directly facilitate project work, such as clear goals and autonomy—and (2) nourishers—interpersonal events that uplift workers, including encouragement and demonstrations of respect and collegiality. Brimming with honest examples from the companies studied, The Progress Principle equips aspiring and seasoned leaders alike with the insights they need to maximize their people’s performance.

The Great Game of Business

The Great Game of Business
Author: Jack Stack
Publisher:
Total Pages: 375
Release: 2014-07-03
Genre: Business & Economics
ISBN: 9781781251539

In the early 1980s, Springfield Remanufacturing Corporation (SRC) in Springfield, Missouri, was a near bankrupt division of International Harvester. Today it's one of the most successful and competitive companies in the United States, with a share price 3000 times what it was thirty years ago. This miracle turnaround is all down to one man, Jack Stack, and his revolutionary system of Open-Book Management, in which every employee understands the company's key figures, can act on them and has a real stake in the business. In Stack's own words: 'When employees think, act and feel like owners ... everybody wins.'As a management strategy, 'the great game of business' is so simple and effective that it's been taken up by companies from Intel to Harley Davidson.

Designing incentives in innovations processes. Gamification as an approach for creating an incentive system for the early stage of the innovation process

Designing incentives in innovations processes. Gamification as an approach for creating an incentive system for the early stage of the innovation process
Author: Lukas Weniger
Publisher: GRIN Verlag
Total Pages: 71
Release: 2020-06-12
Genre: Business & Economics
ISBN: 3346180921

Master's Thesis from the year 2019 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, Berlin School of Economics and Law, language: English, abstract: Incentive systems can contribute to the best possible exploitation of the employee’s abilities. A new way of setting those incentives and motivating employees is gamification. Gamification is defined as the application of game mechanics to a non-game setting, such as the business environment. Companies have discovered game-like incentives for motivating their employees, and now, this paper tries to create a gamified incentive system for motivating employees in the early stage of the innovation process. Innovation creates value, strengthens the market position and creates competitive advantages. Therefore innovation is widely seen as a critical source for economic success for companies. However, at the same time, innovation is expensive. For example, in 2018 alone, Apple invested as much as 14,24 billion dollars on research and development. This represented around 46% of their total operating expenses and approximately 2,6% of their total revenues. These costs are making it vital for companies to ensure the efficient use of innovation resources. This efficiency is largely determined by the competence, creativity and motivation of the employees working in the area of in research and development (R&D). Thus, companies have to generate adequate motivation in employees to deliver their innovative ideas, obtain a patent and develop the patentable idea into profitable innovation. Human resource (HR) management practices are considered as an essential instrument to fulfil this task. However, standard pay-for-performance schemes, which only reward short-term financial success, are not suitable for fulfilling this task in the innovation process, because innovation processes are likely to fail as they contain a high degree of uncertainty. In standard schemes, this failure would result in penalties by a lower compensation or a possible termination of the contract. This punishment has the potential to harm the innovative behaviour of employees. A company that wants to encourage innovation must design incentive systems that free employees to take risks, experiments and discover what practices and technologies are the most effective. These unique characteristics of innovation processes are the reason why analysing incentive systems in the context of innovation processes is of particular interest. Especially since incentive systems are considered as essential for ensuring the efficiency of innovation processes, as employees adapt their behaviour to these systems.

Becoming a Better Value Creator

Becoming a Better Value Creator
Author: Anjan V. Thakor
Publisher: Jossey-Bass
Total Pages: 280
Release: 2000-08
Genre: Business & Economics
ISBN:

Today's companies don't need better managers. They need better value creators--individuals who understand not only the organizational process but the organizational dynamics that ensure continuing profits for a company and its shareholders. In this book, respected business educator Anjan Thakor presents managers with a pragmatic guide to creating value and boosting the success of their companies...while enhancing their own careers. Creating value is about more than making money in the short term. It's about incorporating the efforts of every employee into a business strategy that will support performance and profits over the long haul. It requires each member of a team to take ownership of the organizational assets he or she manages and translate organizational strategy into a personal plan of action. In separate chapters, Thakor gives individual managers of marketing, manufacturing, human resources, and finance specific guidelines for drafting that plan and overcoming the forces that can sabotage value. Using examples from all four of those business areas, as well as insights from leading value-creating companies, he presents five secrets that anyone can use to become a better value creator. The University of Michigan Business School Management Series is dedicated to providing managers with the practical tools they need to build their companies and their careers. Becoming a Better Value Creator tackles one of the biggest issues managers face today. By learning to recognize the factors critical to the ongoing success of their organizations, managers can go beyond maximizing short-term profits to serve the long-term interest of all the company's stakeholders while ensuring their own personal and professional fulfillment.