Question

Research the internet and or/other sources and Identify the prominent results that two organizations sustained from implementing a strategy that tied incentives directly to strategy execution. Explain why you believe they were able to do so.

Answer 1

Tying incentive to Good strategy execution:

Individuals and organizations should be fully committed to the execution of the incentive strategy to implement it. Managers use the technique and motivation factors to all employee commitment to the execution of the strategic plan.

A structured incentive is a key factor for motivating the organization and individual for successful strategy execution. To get the sustained and committed employee to execute the strategy and increase the performance manager need to implement strategy monetary and non-monetary too.

The incentive is the best way to motivate the employee it is the combination of Basic pay increase, Bonus, Profit sharing, and others. In addition, the company uses other motivational approaches . There are the following approaches.

1.incentive should be a major portion of the total package. It should have more weightage than the existing one.

2. The incentive should be for all levels of management rather only top-level management.

3 The incentive system should be worked in an unbiased way. There should be no dishonesty while assessment of the performance for incentives.

4. Target-based incentives should be designed in such a way that targets should be achievable.

5. The incentive should be paid on time. It should not be delayed.

6. use of non-monetary system along with monetary will help in motivating the employee. Sometimes praise helps better than monetary incentives to the employee.

Coca-cola and Amazon use this strategy for an employee motivation.