Stone Finch notes

Topics: Motivation, Innovation, Reward system Pages: 5 (706 words) Published: February 9, 2015
Stone Finch, Inc.:

Jim Billing

Best Leader
Risk Taker
Energetic
Social
Hands on Leadership
80°/° of employees followed him

Assessment of Jim Billing’s performance as president of Stone

Finch Billings showed innovation but he made very radical changes. He wanted to start reward scheme for motivating the employees and he did it but in an unfair manner. He decentralized the authority.

Assessment of the entrepreneurial subsidiary concept

Conducting subsidiaries is a good opportunity for workers to help the company in different areas as well as in technological innovation. Bringing new options and initiatives which can generate unique strategies. Putting the workers in action who had been performing poorly and had been discouraged for their initiatives and effort.

To give incentives to the employees who have been generating great ideas for encouraging their work in a better way. In this way employees could have a better position, a better salary (if they are successful) and better recognition.

Problems

lacked support from the whole team
lack of communication in the environment
Contradictions regarding the management of the existing products and innovation simultaneously Motivate employees by adopting various methods such as periodic assessments, monetary and non-monetary incentives, bonuses, etc which was not working successfully.

Action Plan:

Having a strong relationship between the two divisions of Stone Finch will help the company excel in technological innovation. - Employees working under Eli Saunders do not have the same opportunities for extrinsic rewards that others do. Jim Billing should build trust among his employees and customers, this will make Stone Finch stronger. Stone Finch also needs to change the infrastructure of its two divisions.

Adding a program of training and skills development in the organization for employees will seek growth opportunities within the organization.

To work on the culture of company that can motivate the employees.

Combine individual and team-based rewards. Balance the system of reward at the time his human capital has the reason of working together. Resource allocation and a bad rewards system The problem is that subsidiaries also took into account people who were not part of the company.

Morale plummets because water products division is not longer recognize. Risk should be taken for the subsidiaries, they could not return to the place they left to create it.

If you give preference to people who are outside the company, as the officials of the subsidiaries, which could be external, your employees feel excluded and if they don’t add anything to the company. They feel useless.

The chain of command was highly centralized. Shares Balancing an innovation strategy with ongoing operations Innovation and ongoing operations are always and inevitably in conflict.

Everything is about incentives, and if you want people to think in new ideas you have to give them a great deal, the problem is that people is looking after earning more money, The reality is that an innovation initiative must be executed by a partnership that somehow bridges the hostilities—a partnership between a dedicated team and the performance engine, the unit responsible for sustaining excellence in ongoing operations. Challenges of introducing innovation into a conventional manufacturing organization - The product innovation was not part of the business model of the company. With the introduction of the innovation, the company had to change its business model.

The company was losing relationship with customers rather than winning. There has not been any significant investment in the installations of production of Stone Water. All the investments and innovations have been for the Solutions Division.

Lack of motivation on the employees who are not participants in these innovations Problems of mergers and acquisition that are made without a clear plan...
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