Performance & Reward Management Research Paper Example | Topics and Well Written Essays - 2750 words

Performance & Reward Management - Research Paper Example d Management, on the other hand, is related to one’s understanding of an individual’s motivating factors as well as their determination of the pay, bonus and other rewards they receive (Vince, 2002b). It is then in line with these definitions that the manner by which these concepts are understood by organizations tend to vary. Apparently, there are some organizations that basically link the two in a strong and explicit way. Conversely, there are also other firms who keep both management concepts separate from each other. However, the study of Vince (2002b) reveals that work in organizations that separate these two concepts tend to be characterized by higher levels of employee dissatisfaction. In the same manner, they also tend to experience higher turnover rates with the employees showing poor morale. Furthermore, Vince (2002b) also showed that these organizations tend to pose a desire aimed towards changing a certain aspect of the employees’ behaviour. The definition of Shields (2007) with regard to performance and reward management concurs with the above presented statements of Vince (2002c). Shields (2007), in establishing the link existing between the concepts, first discussed the purpose of reward management. According to him, a working organization that adopts a reward management scheme is usually guided by three main objectives; namely (Shields, 2007): (1) the need to attract the right people at the right time for the right jobs, tasks and roles; (2) the need to retain the best people through recognising and rewarding the contributions they made to the company; and finally, (3) the need to motivate the employees so as to ensure that they will contribute to the organization, the best of their capabilities. With regard to this definition, Shields (2007) then discusses that the strong link between reward and performance management has been clearly established for it has clearly expressed the need to ensure the motivation of the employees which are then

Wal-Mart vs Target Assignment Example | Topics and Well Written Essays - 4000 words

Wal-Mart vs Target - Assignment Example Wal-Mart strives to operate under the premise of advocating for low prices while Target simply operates under the premise of focusing on style and fashion (Steverman 12). There are many brands that one can choose to shop in America, but based on their efficiency and affordability of their products, Wal-Mart and Target are the preferred brands. Most of the college students can associate with such brands because they can only afford to shop at stores that are pocket-friendly thus the reason as to why we proposed this project. However, despite the fact that both Wal-Mart and Target are known for their efficiency and affordability, customers can only be loyal to one of them. Wal-Mart and Target have over the decades grown to establish their brands in the market and as a result, both have used different techniques and strategies to propel their growth (Bickle 21). The birth of discount retailing is traced back to the year 1962, which was the first year for operation of Wal-Mart and Target. It is during this period that Sam Walton’s small chain variety of stores was engulfed in competition from other discount chains. As a result, Sam traveled all over the country to study more about the new form of retail concept and based on his vision that most of the American consumers were shifting to a new form of general store he decided to put up the first ever Wal-Mart store. Together with his wife Helen, they both put in approximately 95% into the first Wal-Mart store, which was located at Rogers, Arkansas. Wal-Mart goals ever since its inception has been to provide great value as well as great customer service (Barstow 32). Walton’s vision was focused on establishing the brand at all cost with an aim of improving the lives of the people. During the same year, George Dayton launched the first ever discount Target chain store in Roseville, Minnesota. The two brands henceforth set to become the largest retail chain stores in America attracting larger customer base and  giving their competitors a challenging ground.