Assignment: Evaluations, Compensation, and Firm Objectives
The following Course Outcomes are assessed in this Assignment:
MT203-3: Explain how companies link compensation and evaluation to organizational objectives.
GEL-1.02: Demonstrate college-level communication through the composition of original materials in Standard English.
Introduction: A companys mission, vision, and values must be aligned with the company strategy. Then each of the functional areas of the company have their own strategies that align with the overall company strategy. In this Assignment you will explain how a company can link their compensation and performance evaluations to the organizations innovation objectives. Read the case study below, and respond to all the checklist items.
Case Study: Evaluations, Compensation, and Firm Objectives
Braintrust Toys is a toy maker that has as its mission, Our purpose is to expand the minds of children 1 month100 years old. Currently they use a product development strategy but believe that maybe they need to orient their company towards an innovative strategy.
Their current objectives are to:
Invent 10 new toys every year and reinvent at least 10 more.
Increase revenues by 15% per year.
Employ motivated and committed workers.
Provide safe and intellect-expanding toys for everyone.
Braintrust Toys has operated as a medium-sized company for about 20 years. Their compensation to date has been based on longevity at the company. The evaluations were performed by their managers after reviewing their results based on their influence on: (1) increased department product output (75%), and (2) increased department sales (25%) at the end of the year. With the increasingly mechanized and digitized toys, and now robotics involved in toy making, many employees have been let go or offered early retirement due to their obsolescence.
The new objectives in line with the new innovation strategy include:
Enhance attributes and convenience in at least 20 existing products.
Launch at least 15 new products that appeal to new customers and new markets.
Develop 5 new markets.
Hire personnel that think innovatively.
Hire diverse support personnel and designers who are customer service oriented to support new products and markets.
The 200 remaining employees are beginning to worry, and feel their compensation and evaluation process needs an overhaul.
Explain how Braintrust can link their compensation and evaluations to the companys new objectives and innovation strategy.
What methods of performance evaluation might they use?
Explain your reasoning for using the methods of evaluation you chose.
Submit your minimum 2-page (i.e., 500-word) expository essay in APA format and citation style with additional title and reference pages. Make sure your paper is logical and insightful, using correct Standard English spelling and grammar. Ensure there is an introductory paragraph, each paragraph has a minimum of 34 sentences, and a closing paragraph is provided.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more