Theories and methods of employee motivation Essay

Theories and methods of employee motivation - Essay Example Therefore, from the preceded discussion, it is clear that success of a company partly falls on the ability of the manager to employ appropriate employee motivation strategies. There are various motivational methods available around the globe all depended on several factors such as culture, company structure, and intended goal of motivation. The first method applicable, in this case, is empowerment. It involves the technique of granting the employees more responsibility and a chance to be consulted in the decision-making process. Furthermore, involving the employees in decision making enables them to create goals and objectives which will make them feel accountable to achieve as they were part of the creation. Such sense of responsibility improves the productivity of individuals as they intend to prove their suggestions are doable. The method can be related to the control theory of employee motivation (Fernandez and Pitts 2011). Involving employees in decision-making gives them a sense of control over what is happening in the company. It is an effective method considering the company is embracing technology in various departments. The implementation of this technique is through the use of questionnaires, suggestion letters and holding branch meetings regarding the issue. The intended changes should be openly told to the people for them to have a good basis to offer viable suggestions and opinions. Such a step is cheap as the expense incurred would involve the creation of the questionnaires, and minor expenses f holding the meetings. The success of such an initiative can be evaluated through analysis of productivity and employee attitude towards the changes taking place in the company. Furthermore, such an initiative would be beneficial in reducing the supervision cost required as most of the employee would feel obligated to the suggestions and thus work towards achieving the set goals. The method can be implemented immediately considering

Risk in the Theme Park Industry Essay Example | Topics and Well Written Essays - 750 words

Risk in the Theme Park Industry - Essay Example According to Lukas, accidents and deaths are the most closely monitored risk despite the statistical fact that economic concerns and poor weather affect business more frequently. (2005) However, when accidents or deaths do occur, there are several direct consequences. First, the park is often closed during the process of an investigation. In addition to the lost ticket sales during that timeframe, the public perception of danger is increased. "The mere perception of an unsafe ride can affect park attendance, while accidents and deaths can result in park closure and decline in ticket sales." (Lukas, 2005) Statistically, the risk is minimal. In 2003, there were only 78 ride-related injuries which resulted in an overnight hospital stay. (Banay, 2005) Nevertheless, the costs are high when accidents do occur. Insurance underwriters are very concerned with safety, and the cost of insurance is dictated by safety records. While patrons of amusement parks are seeking danger and thrills, park management must balance these desires with the risk of increasing insurance rates. Still, the cost of bad publicity is the highest cost resulting from this statistically insignificant risk to the industry. Terrorism, despite occurring far less frequently than accidents, is considered to be a greater risk to the industry. While the publicity surrounding accidents generally affects one park, or perhaps one family of parks, the effect of terrorist activity is industry-wide. "After an incident of civil unrest, natural disaster, or terrorism, there is an immediate 30% downward spike in the perception of safety at such public locations." (Banay, 2005) She reports that the resultant decline in theme park attendance continues as much as three years after a major terrorist episode. According to sources cited by Debora Vrana in her article for the LA Times, visits to theme parks worldwide were down by 1.5% in 2003. (2004) This decline was attributed to terrorism in addition to poor weather and a poor economy. Under current terrorism threat conditions, the cost to the industry is potentially high, and the US government currently classifies the risk of another strike as moderate to high. Unfortun ately, due to the large crowds that gather at these establishments, they are considered to be a potential target. The specific consequence of that risk appears to be a long-standing decline in park attendance stemming from a decrease in the public perception of safety.A panel of industry insiders gathered in 2002 to discuss the impact of 9/11 on theme park attendance and revenues. Of note, their conclusions did not identify terrorism as the greatest risk. Rather, they concluded, "at this point, it is the soft economy that is really putting a crimp on vacation plans." (Levine, 2002) Like other businesses within the travel and tourism industry, theme parks rely on patrons to spend their discretionary income. When the economy is poor, fewer people are spending, and those who are spending frequently spend less. "Road blocks in the form of war in Iraq, SARS, a stagnant economy, and currency rates have impacted the amusement industry." (Banay, 2005) Currency rates are known to affect the rates of international travel, and those parks which attract an international audience are subject to those effects as well. The risk comes in