Essay:

Essay details:

  • Subject area(s): Marketing
  • Price: Free download
  • Published on: 14th September 2019
  • File format: Text
  • Number of pages: 2

Text preview of this essay:

This page is a preview - download the full version of this essay above.

ntroduction

This reflective journal is about how I have related my life experiences with the topics in the subject and how it has helped me to enhance my skills and the concepts that I have learned in PIO. It has actually given me a better understanding of how people should behave in an organization. The concept of stress management taught me how to work under pressure and have a balance between work and personal life.  PIO helped me to understand behavior of the people in the organization.so I'm using theories like motivation, values and ethics, Conflict Resolution and emotional intelligence.

Motivation

Theory X: - The theory x states that team doesn't like to work and shows no motivation towards the company. They do not take any initiative or show any progress in work.  The company has to come up with a reward system or a plan that could get them to meet deadlines, show improvement in work and stay motivated throughout the year. They can either be rewarded, promoted or punished by the management in order to finish the task at the given time.

Theory Y: - This theory states that the team has already shown tremendous enthusiasm and they are able to meet deadlines on time. The team work is really strong here and this keeps them very motivated throughout. The company believes that the staff or management team takes pride in finishing their work and are motivated to achieve the goals. In theory Y, the management team has an optimistic opinion of staff and they use a participative management. Due to a strong support system within the company, the staff has more trustworthy relations.

Here we will state Theory X as: - the Authoritarian

    Theory y as: - participative.

These are the two types of management.

Based on my experience In India, our family owned hospital is run by my father who is an investor and does not have a medical background. Even though there is a strong management team, the hospital is largely dependent on doctors. The Doctors and the management team have to work hand in hand to run a successful operation. In this particular incident, One of the very reputed doctor in our hospital wasn't performing well according to his potential.

The company decided to offer him more incentives like Salary increase and less working hours .  This is an approach used by theory X.  According to them, this was supposed to motivate him, make him more focused at work and perform better.

Even after these benefits he did not outperform or match his potential. The company had to come up with something else other than just theory X.

After a while we got to know that because of his previous private clinic, he was getting a lot of respect and recognition which he couldn't achieve in the hospital. He believed that his role is getting over shadowed by company's name and he is just another employee working for a big hospital. He wanted recognition and was more inclined towards that, than just the pay and less working hours.

So, to match that, we offered him equity in the hospital and included in board meetings.

This created a sense of ownership in him and he started performing much better. Because of this, he could get the hospital on the top list of Rajasthan. Theory Y- which is participative management played a big role in this case.

Sometimes people actually get puzzled with what theory to be used and, on whom. So, it is very important to be conceptually clear. And, it can also be linked with the Maslow's hierarchy. The assumption of Maslow's hierarchy of needs is correct. It proves that after a certain level it's no more about basic need. After you acquire a certain stage you keep stepping towards the other needs and wants. As humans, people have an inborn desire to be self-actualized. And, in my opinion, both the theory can be closely related to identifying the problem and come up with the solution.

(Sources :  https://www.managementstudyguide.com/theory-x-y-motivation.htm

https://www.psychologytoday.com/us/blog/hide-and-seek/201205/our-hierarchy-needs )

Values and Ethics in International Business

Values can be defined as things that are essential to someone be it individual, company, friend, group of people. it drives from number of sources in our life. It depends on the upbringing of the person, how eventually it erodes over time and keeps taking a new shape.

Factors like religion, culture, media, education, brings changes to the values and ethics of life. Ethics is more towards what is right or wrong in the society. Culturally it is different, what may be considered appropriate in one culture may not be appropriate in other cultures.

 My story is more inclined towards ethics and value system. I assist my family in their construction business. We recently decided to open a hotel in our home town and had purchased the land needed to complete the project. The land was commercial and was purchases with the intent of opening a hotel. The next step was to apply for a license for the hotel. When we approached the registrar office, we were told there was a 5-year waiting period for the license which meant our project was not commercially viable. An agent approached us and offered to get the licensing done for us in few months' time. We were unsure of the agent's business practices and when we did a reference check we found out that he may be engaging in bribing to get the licensing through. Although this would make our project commercially viable again, we took the decision to invest in another project as we wanted to grow our business in an ethical and sustainable manner. Because of this I got to learn that it is more important to have integrity than to take short cuts in business.

On this particular project we actually lost money, but I understood that in the long run it is more important to have ethical business practices. One year later, for our next project a lot of investors wanted to partner with us. When we enquired why, they told us that they wanted to partner with someone who has ethical business practices and our decision of not taking shortcuts was great for our business reputation. I learnt that in the long run, we need to be driven not only by profit but also values and ethics.

(source: http://www.au.af.mil/au/awc/awcgate/ndu/strat-ldr-dm/pt4ch15.html )

Conflict Resolution:

Conflict can be a disagreement or an argument among groups or individuals. This is usually triggered  by an opposition between two parties, or a disagreement of opinions.

In an attempt to reach a conclusion, various strategies and techniques can be used to reach an answer which is favourable to both parties.

The elements involved in the conflict have varied sets of principles and values between two people, commits. It can be a difference of ideas or opinion in the working environment.

Positive conflict: encourages creative solution and generate innovation. The feedback is usually focused towards constructive ideas and solutions that can help in further improvement.

Negative conflict:   Encourages Non – productive ideas and unreasonable expectations. in some events the opinions are just over-critical and negative without any logic or understanding.   This generally happens because the conflict is not well communicated which Leads to inappropriate performance. And then it creates more conflict in the company.

My story is related to the difference of opinion between the doctors and the management team in our own hospital. The management team was trying to promote the hospital.  They had to come up with a marketing strategy for promoting the hospital. To do the same, they were supposed to organize health camps.

The idea was to get more recognition and visibility in the city.

 Management team planned to organize five health care free camps in the city for general body checkup so that it  can create awareness of the hospital  in the city and in Rajasthan.

But, the doctors were not happy with this marketing strategy.  The doctors wanted the free health care checkups for the poor and needy in the nearby villages where it was needed the most.  According to them, the villagers have no idea about hospitals and they keep neglecting their health condition until it is already very late. The doctors believed that it would be very helpful and would create an excellent brand image for the hospital. In their opinion, just doing advertisements and online marketing for cities was enough.

Both doctors and the management were right about their point of view, but the team had to come up with a solution which could avoid conflict and have a positive solution for both the parties. So, to resolve the situation, the higher management team decided that they will organize the same number of health care camps. But, three in villages and two in the city.

 This will help them to promote to a greater number of people and create a good image as well.

With the help of this problem, I learnt that conflicts can be positive and sometimes it can bring a better solution for the company. Constrictive feedback like this also encourages the people to come up with a better solution that could help the company grow faster.

(source:  https://sielearning.tafensw.edu.au/toolboxes/toolbox316/rm/rm_c19.html  

http://www.typesofconflict.org/what-is-conflict/ )

Emotional Intelligence

The capacity to be aware of, control, and express one's emotions, and to handle interpersonal relationships is known as emotional intelligence. Emotions can be  positive or negative feelings that influence the behaviour of the people in the organisation. It shows us how to have a control over the behaviour.

It is proven that EQ is more important than IQ

Emotional Intelligence, or emotional quotient (EQ), is defined as an individual's ability to identify, evaluate, control, and express emotions. People with high EQ usually make great leaders and team players because of their ability to understand, empathize, and connect with the people around them. IQ, or intelligence quotient, is score derived from one of several standardized tests designed to assess an individual's intelligence.

IQ is used to determine academic abilities and identify individuals with off-the-chart intelligence or mental challenges. EQ is a better indicator of success in the workplace and is used to identify leaders, good team players, and people who best work by themselves.

This story is related towards how EQ is more important than IQ

This example is about a very efficient doctor who also happened to be the head of department (HOD )  of neurology in our hospital.

He has to manage a team of 3 resident doctors and 5 nurses.

In an unfortunate event, one of the resident doctors had a family emergency. The doctor wanted an urgent leave of 1 month.

Since the neurology department requires great expertise, it was very difficult  to find a replacement soon. The number of patients were too many and the hospital's image was at stake.

Even though one month sounds a bit unreasonable, The HOD showed a lot of empathy towards him. He understood his side of the story and agreed to give him urgent leave even after knowing that it was the most important time. He started doing extra hours to cover his junior's shift.

This not only created a very positive environment in the department but also motivated other doctors and every one supported and respected the decision. This story concludes that how important is EQ. Now, everyone likes the HOD and values his decision they all are very motivated towards the work and the doctor who had to take the leave gives extra time to the hospital and is performing much better than earlier.

...(download the rest of the essay above)

About this essay:

This essay was submitted to us by a student in order to help you with your studies.

If you use part of this page in your own work, you need to provide a citation, as follows:

Essay Sauce, . Available from:< https://www.essaysauce.com/essays/marketing/2018-9-11-1536629148.php > [Accessed 14.10.19].