MT203 Unit 7 Assignment Evaluations, Compensation, and Firm Objectives
Assignment: Evaluations, Compensation, and Firm Objectives
The following Course Outcomes are assessed in this Assignment:
MT203-3: Explain how companies link compensation and evaluation to organizational objectives.
GEL-1.02: Demonstrate college-level communication through the composition of original materials in Standard English.
Introduction: A company’s mission, vision, and values must be aligned with the company strategy. Then each of the functional areas of the company have their own strategies that align with the overall company strategy. In this Assignment you will explain how a company can link their compensation and performance evaluations to the organization’s innovation objectives. Read the case study below, and respond to all the checklist items.
Case Study: Evaluations, Compensation, and Firm Objectives
Braintrust Toys is a toy maker that has as its mission, “Our purpose is to expand the minds of children 1 month–100 years old.” Currently they use a product development strategy but believe that maybe they need to orient their company towards an innovative strategy.
Their current objectives are to:
Invent 10 new toys every year and reinvent at least 10 more.
Increase revenues by 15% per year.
Employ motivated and committed workers.
Provide safe and intellect-expanding toys for everyone.
Braintrust Toys has operated as a medium-sized company for about 20 years. Their compensation to date has been based on longevity at the company. The evaluations were performed by their managers after reviewing their results based on their influence on: (1) increased department product output (75%), and (2) increased department sales (25%) at the end of the year. With the increasingly mechanized and digitized toys, and now robotics involved in toy making, many employees have been let go or offered early retirement due to their obsolescence.
The new objectives in line with the new innovation strategy include:
Enhance attributes and convenience in at least 20 existing products.
Launch at least 15 new products that appeal to new customers and new markets.
Develop 5 new markets.
Hire personnel that think innovatively.
Hire diverse support personnel and designers who are customer service oriented to support new products and markets.
The 200 remaining employees are beginning to worry, and feel their compensation and evaluation process needs an overhaul.
Checklist:
Explain how Braintrust can link their compensation and evaluations to the company’s new objectives and innovation strategy.
What methods of performance evaluation might they use?
Explain your reasoning for using the methods of evaluation you chose.
Submit your minimum 2-page (i.e., 500-word) expository essay in APA format and citation style with additional title and reference pages. Make sure your paper is logical and insightful, using correct Standard English spelling and grammar. Ensure there is an introductory paragraph, each paragraph has a minimum of 3–4 sentences, and a closing paragraph is provided.
Access the Unit 7 Assignment rubric.
Submit your response to the Unit 7 Assignment Dropbox.
Disclaimer: The organization and characters depicted in this exercise are fictional. Any resemblance to real organizations or individuals is purely coincidental.
MT203 Unit 7 Assignment Evaluations, Compensation, and Firm Objectives Answer
Maintaining a healthy, productive, and overall successful business requires a great deal of dedication, research, and investing. A leader is nothing without a strong team behind them. More importantly, positive results are produced through trial and error in order to set goals, achieve goals, and continue to grow. Braintrust Toys is a toy manufacture organization striving to make some adjustments to their current organization objectives and performance management in order to transition from the product development strategy they currently have in place, to an innovative strategy. Let us take a look at how Braintrust can link their compensation and evaluations to their new objectives as well as the innovative strategy. There are also a couple of performance evaluation methods that can be applied as Braintrust is investing in a new system for the organization. These factors can positively impact Braintrust into exceeding their 20 years of operation as well as create a fresh journey for existing customers and employees while welcoming new ones as well.
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