Business Finance Homework Help

Read Critical Thinking Case Walt Disney World at the end of Chapter 4. There are three questions.

1. If your last name is A-F answer Question 1.
2. If your last name is G-L answer Question 2. 
3. If your name is M-Z answer Question 3.

• You should then respond to at least two classmates.  You may comment on questions other than the one you have been assigned.  Assignments with less than two responses will not be graded.
• Type the question that you are answering.  You do not have to type the question about which you are responding to your classmates.
• Type the name of the person to whom you are responding.  Ex: “Helen, you are correct about the entrepreneurs giving back to the community….”
• Write at least 100 words in your answer.
• Don’t just quote from the narrative. Be sure to quote from the text using MLA Handbook format.

Follow your instructions carefully.  This assignment is worth 50 points and must be completed in order to be graded.  Your instructor will use this grading rubric to assess your performance on this assignment

What can be problematic about the wrong type of reward or the wrong frequency of the reward for employees?

Today’s workforce is comprised of multi-generational, one that span up to four different generations. The basic understanding of what different generation brings to the table, will give company management team the maximum chance to succeed. There is one thing that all workforce employees from all generations prioritize when searching for a job, what is the type of benefits and incentive offered by the company. Company must provide some form of incentive to meet their goals.

Incentive’s the workforce is paramount for any company to succeed in today’s market, because in true honesty, all workers like to be recognize for their work ethic and contribution to the company. Incentive brings competition amongst employee to accomplish a set goal. Often it can be a distraction when not utilize correctly. When we focus too much on reward, we make people less creative and productive for the company. The reward tends to narrow a person’s focus, which is fine when there is a clear path to a solution, but makes them less effective when the task requires a level of creativity.

Rewards should always tie to the best performance of the company end goal, in which they are trying to accomplish. Ch4-4, pg 132. “One of the most unique is the Lifetime Fred award, which recognizes employees who exhibit the core company values of friendliness and dependability.” The more significant the meaning of the reward to the company, workers will see more value and aspiration to strive for that achievement.

The introduction of rewards for completing a task creates the need for the same or greater rewards for future assign tasks of the same nature. These rewards quickly become less about a bonus and more about what is due. Rewards tied to sales quotas, revenue targets and other short-term, extrinsic targets can encourage bad behavior and cheating.

What I would like to know is, what is best practice to reward hard work in the workplace?

First student I have to respond to

2. Why is timing a key component to a rewards program?

For worker and managers alike timing is what makes or breaks a rewards programs. Managers have to balance resources and long term benefits for a rewards program. What is important to keep in mind is retention of positive behaviors. If the reward takes to long to arrive the employee might forget what it was for, or become disheartened that it will not be coming. Managers will have to use best judgments on when and how often rewards should be applied. Timing can range from continuous to partial, or intermittent, depending on the reinforcement needed and resource required. Even just saying good job repeatedly throughout the day with even just day to day responsibilities can be taxing for a manager. That being said most rewards programs tend to lean towards the partial schedule. Costello and Zalkind said “The speed with which learning takes place and also how lasting its effects will be is determined by the timing of reinforcement.”1 Continuous programs leads to faster learning but weaker retention. Partial reinforcement, on the other hand, lead to slower learning but a better foundation for retention.

When first starting any new job, training, or plan early on continuous correction and/or praise should be used to establish baselines. Once mastery of basic skills has been achieved there should no longer need to be constant approval. Individuals, or groups, doing the basics and beyond should now be getting the appreciation. If both the above and beyond and the baseline get the same amount of rewards there is not any incentive to do more than just the basics. Moving from a continuous program, at the beginning, to a partial program over time will lead to a solid foundation of what is expected and give employees time to meet and exceed expectations.

1. “Chapter 4: Learning and Reinforcement.” Organizational Behavior, by Multiples, Openstax, 2019, pp. 108–110.