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Employee-driven Growth
Employee-driven growth (EDG) is a business philosophy that centers an organization's growth on employee support, engagement, and development. It uses employee recognition, engagement, and rewards as strategies for business growth and customer satisfaction. Key principles Development EDG uses feedback loops and incentive structures to improve job performance and satisfaction, which result in enhanced customer experiences. Employee development includes additional classes, certifications, and training that keep employees engaged with their jobs. Recognition and rewards EDG emphasizes recognizing and rewarding employees for exceptional service, positive online reviews, and contributions to business success. This recognition often takes the form of financial incentives, but could also include non-cash rewards and other more intrinsic motivators. Impact Employee-driven company practices have been shown in studies to increase customer satisfaction by as much as 30 percent. Resea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philosophy Of Business
The philosophy of business considers the fundamental principles that underlie the formation and operation of a business enterprise; the nature and purpose of a business, and the moral obligations that pertain to it. See also * Business ethics * Theory of the firm The theory of the firm consists of a number of economic theories that explain and predict the nature of the firm, company, or corporation, including its existence, behaviour, structure, and relationship to the market. Firms are key drivers in eco ... References * Drucker, P. (1954), ''The Practice of Management'', HarperBusiness, Reissue edition 1993, * Fort, Timothy (2001), ''Ethics and Governance: Business as Mediating Institution'', Oxford University Press USA, New York. * Friedman, M (1962), ''Capitalism and Freedom'', University of Chicago Press, Chicago. * Hutcheson, F. (1729), ''An Inquiry Concerning Morall Good and Evil''. * Kalin, J. (1968), "In defence of egoism", in ''Morality and Rational Self-intere ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Satisfaction
Customer satisfaction is a term frequently used in marketing to evaluate customer experience. It is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified Contentment, satisfaction goals".. Enhancing customer satisfaction and fostering customer loyalty are pivotal for businesses, given the significant importance of improving the balance between customer Attitude (psychology), attitudes before and after the consumption process. Expectation confirmation theory, Expectancy disconfirmation theory is the most widely accepted theoretical framework for explaining customer satisfaction. However, other frameworks, such as equity theory, attribution theory, Contrast theory of meaning, contrast theory, assimilation theory, and various others, are also used to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Review
A customer review is an evaluation of a product or service made by someone who has purchased and used, or had experience with, a product or service. Customer reviews are a form of customer feedback on electronic commerce and online shopping sites. There are also dedicated review sites, some of which use customer reviews as well as or instead of professional reviews. The reviews may themselves be graded for usefulness or accuracy by other users. History Before the arrival of the internet, customers could review products and services through customer comment boxes and customer service helplines. These methods still exist today although internet review sites are used more in recent years. Reliability The reliability of customer reviews has been questioned. Abuses akin to ballot stuffing of favourable reviews by the seller (known as incentivized reviews), or negative reviews by competitors, need to be policed by the review host site. Indeed, gathering fake reviews has become bi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Success
Success is the state or condition of meeting a defined range of expectations. It may be viewed as the opposite of failure. The criteria for success depend on context, and may be relative to a particular observer or belief system. One person might consider a success what another person considers a failure, particularly in cases of direct competition or a zero-sum game. Similarly, the degree of success or failure in a situation may be differently viewed by distinct observers or participants, such that a situation that one considers to be a success, another might consider to be a failure, a qualified success or a neutral situation. For example, a film that is a commercial failure or even a box-office bomb can go on to receive a cult following, with the initial lack of commercial success even lending a cachet of subcultural coolness. It may also be difficult or impossible to ascertain whether a situation meets criteria for success or failure due to ambiguous or ill-defined definit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Incentive
In general, incentives are anything that persuade a person or organization to alter their behavior to produce the desired outcome. The laws of economists and of behavior state that higher incentives amount to greater levels of effort and therefore higher levels of performance. For comparison, a disincentive is something that discourages from certain actions. Divisions An incentive is a powerful tool to influence certain desired behaviors or action often adopted by governments and businesses. Incentives can be broadly broken down into two categories: intrinsic incentives and extrinsic incentives. Overall, both types of incentives can be powerful tools often employ to increase effort and higher performance according to the "law of behavior." Incentives are most studied in the area of personnel economics where economic analysts, such as those who take part in human resources management practices, focus on how firms make employees more motivated, through pay and career concerns, Fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Productivity
Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. The most common example is the (aggregate) labour productivity measure, one example of which is GDP per worker. There are many different definitions of productivity (including those that are not defined as ratios of output to input) and the choice among them depends on the purpose of the productivity measurement and data availability. The key source of difference between various productivity measures is also usually related (directly or indirectly) to how the outputs and the inputs are aggregated to obtain such a ratio-type measure of productivity. Productivity is a crucial factor in the production performance of firms and nations. Increasing national productivi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Ethics
Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. These ethics originate from individuals, organizational statements or the legal system. These norms, values, ethical, and unethical practices are the principles that guide a business. Business ethics refers to contemporary organizational standards, principles, sets of values and norms that govern the actions and behavior of an individual in the business organization. Business ethics have two dimensions, normative business ethics or descriptive business ethics. As a corporate practice and a career specialization, the field is primarily normative. Academics attempting to understand business behavior employ descriptive methods. The range and quantity of business et ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employee Relations
Industrial relations or employment relations is the multidisciplinary academic field that studies the employment relationship; that is, the complex interrelations between employers and employees, labor/trade unions, employer organizations, and the state. The newer name, "Employment Relations" is increasingly taking precedence because "industrial relations" is often seen to have relatively narrow connotations. Nevertheless, industrial relations has frequently been concerned with employment relationships in the broadest sense, including "non-industrial" employment relationships. This is sometimes seen as paralleling a trend in the separate but related discipline of human resource management. While some scholars regard or treat industrial/employment relations as synonymous with employee relations and labour relations, this is controversial, because of the narrower focus of employee/labour relations, i.e. on employees or labour, from the perspective of employers, managers and/ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Workplace
A workplace is a location where someone works, for their employer or themselves, a place of employment. Such a place can range from a home office to a large office building or factory. For industrialized societies, the workplace is one of the most important social spaces other than the home, constituting "a central concept for several entities: the worker and heirfamily, the employing organization, the customers of the organization, and the society as a whole". The development of new communication technologies has led to the development of the virtual workplace and remote work. Workplace issues * Sexual harassment: Unwelcome sexual advances, conduct or remarks of a sexual nature which unreasonably interferes with the performance of a person's job or creates an intimidating, hostile, or offensive work environment. * Kiss up kick down * Toxic workplace * Workplace aggression: A specific type of aggression that occurs in the workplace. * Workplace bullying: The tendency of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Human Resource Management
Human resource management (HRM) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives. Human resource management is primarily concerned with the management of people within organizations, focusing on policies and systems. HR departments are responsible for overseeing employee-benefits design, employee recruitment, training and development, performance appraisal, and reward management, such as managing pay and employee benefits systems. HR also concerns itself with organizational change and industrial relations, or the balancing of organizational practices with requirements arising from collective bargaining and governmental laws. The overall purpose of human resources (HR) is to ensure that the organization can achieve success through people. HR pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organizational Behavior
Organizational behavior or organisational behaviour (see American and British English spelling differences, spelling differences) is the "study of human behavior in organizational settings, the interface between human behavior and the organization, and the organization itself".Moorhead, G., & Griffin, R. W. (1995). ''Organizational behavior: Managing people and organizations'' (5th edition). Boston. Houghton Mifflin, (p.4) Organizational behavioral research can be categorized in at least three ways: * individuals in organizations (micro-level) * work groups (meso-level) * how organizations behave (macro-level) Chester Barnard recognized that individuals behave differently when acting in their organizational role than when acting separately from the organization. Organizational behavior researchers study the behavior of individuals primarily in their organizational roles. One of the main goals of organizational behavior research is "to revitalize organizational theory and devel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
