Success of any organization or company that is involved in profit making relies totally on good and proper management structure and responsibilities of the organization. Chevy Chasenot excluded in this. Chevy Chase Trust company is run by the board of directors consisting of nine people with the founder as one of the board members. The election of the board members is done through the voting system and those members who fail to gather the necessary majority votes are made to resign and new members are elected. It also has several committees which are entrusted with the approval of financial decisions, governance as well as other committees that act to safeguard the interest of the company The overall management and decision making process at Chevy chase company goes beyond the board as Chevy chase has the global management committee that is entrusted with the responsibility of making most of the strategic decisions. (Lawrence, 2006)
Innovation is not regarded as very easy most especially when looked at from an angle of a community that is recovering from the consequences of economic crisis. The Chevy Chase trust company has embarked on a high level of innovativeness that has seen the company grow to great heights compared to their counterparts, their invention and discovery of new ideas that are relevant to the organization has made them compete favorably with other companies .The manager are always remained focused on the bigger picture of the organization so that they always plan for the uncertainties of the company. The company has embarked on a strategic leadership style that has brought coherency and good relationship with employees. The managers ensure that the newly recruited employees are well conversant with the current technologies in order that they are made conversant with the current technologies. Ensure the employees are taken for further trainings to enable them catch up with the latest technologies in the new world of changing ideas in the ways of doing things. The strategic plans of the organization are made familiar to the new recruits so that they are made aware of the direction in which the organization is taking to enable the realize their objectives as well. (Lawrence, 2006)
The environment in the workplace determines the success of driving innovations. The idea of the fear of attending to the workplace is not appreciable among the majority of the workers. The reduction of the work load among the workers and their employers has help solve this problem because the stress that is associated with work is significantly minimized that may result to the unpleasant environment of work. The good work environment has led to an increase in the company’s product line coupled with quality that best serve client’s interest making their product better than other potential competitors. (Lawrence, 2006)
The management at shevy Chase Company hires the employees who are upbeat and positive so as to derive enthusiasm in the work. Although it is impossible for the employees to be cheerful throughout their working life, Shevy chase promotes a sense of self confidence among the employees and enables them realize their abilities in an attempt of creating of the positive attitude as they work by increasing their employees package this has made the employees to double their effort in ensuring the company’s services are improved for example through new brands of product that are unique and appealing to the customers this has realized an increase sales as well as profit in a very tight competitive environment this has enabled them outweigh their rivals. Leaders need therefore to understand the various leadership theories and decide on the ones to adot and which ones to abscond. For example, in the case of a type of leadership that is characterized by autocratic leadership, there is a tendency by the leaders to exercise absolute powers on the subordinates as well as the teams leaving a minimum room for their suggestions irrespective of the benefits that is anticipated from the suggestion so the workers. This is consequently detrimental to innovations. (Lawrence, 2006)
Shevy chase Trust company is using charismatic style of leadership. This is a style of leadership that can positively bring about innovations in the organization. Just as is the case with the transformational leaders, there is a lot of inspiration in addition to enthusiasm that are associated with this style. This results to the creation of energetic teams. The only hindrance is the case where the leaders tend to put more emphasis on their efforts at the expense of the contribution of the subordinate workers. This brings about a risk of the failure or collapses of a project as well as the whole organization therefore possible risks are well taken care of.
The management also uses a democratic style of leadership in the determination of the ultimate decisions. This has been achieved trough inviting the team members in the contribution at the time of the process of decision making. Much innovation is anticipated in this case because the level of satisfaction in the work place is increased and the skills of the people are developed at the same time. The members of the team have a feeling that they are empowered to control the destiny that befall them that leads to a sense of motivation and they work hard not looking very much at the financial rewards that they get from the organization. This is a style that needs to be assigned much time because of the issue of participation. This leads to improved end results and speed of marketing or even product
Another optional style has been be put in place in an attempt of driving innovations in the organization is the people-oriented style of leadership which is also an equivalent of the relations-oriented style of leadership. The focus of the leader’s ion this situation is the organization that they serve with major emphasis on the support as well as the development of the people based on the teams of work. This is a style of leadership that is participative and therefore it promotes a positive teamwork in addition to the creative collaboration. The effectiveness of the innovations in the organization depends on the extent of the application of the combination of the task oriented style of leadership to the people oriented style. This style of leadership makes the Shevy chase company advantageous over others in terms of quality production hence achieving competitive advantage over others
Motivation in the organization
Motivation by definition is perceived as the activation or the process of instilling energy among individuals who are originally oriented to the goals they are meant to per take within a given organization. The Shevy chase Trust company applies the motivation strategy for example the company through performance appraisal increases the salary of hard working employees this motivates them and enable the company achieve its goal and objectives. (Deci 2008)
Capacity building is another strategy that is used by the Shevy chase Trust company to upgrade the performance its employees., new recruits are first put on an on job training this enables them to cop with the job environment at faster speed hence enable the company to meets the projected out put hence meeting their objectives (Deci, 2008 )
YYet another motivation method that is working for the Shevy chase Trust company that would directly translate to good performance among the employees is giving rewords to the successful employees. This has been met with a lot of oppositions as most managers find it extremely had to define success with work performance. Some argue that success should not be relative to the other person’s productivity but rather to the productivity of what that particular individual would have achieved. There are those who argue that even the poor performers have to be rewarded for their minimal contribution. It still rests with the manager to determine what motivates his employees best at different categories of individual.
Motivation is achieved at Shevy chase Trust company because of correct balance between effective communication channels, as well as provision of incentives. The following are some of the tactics that are applied within that organization. It is still imperative to note that the same technique may not suit or motivate every individual since each person is motivated differently by different forces the first one is to desist from using threats on employees as this may instill fear, depression and job insecurity on the individual. Provision of rewards for pleasure is yet another method of motivating employees in the organization. This is also to say avoid rigidity by giving the employees an opportunity to earn more for whatever they do by earning more for you. This can be done by giving opportunity for overtime and its associated rewards.( Reiss,2000)
The company provides comfortable office wares that create a suitable environment for employees this therefore provides a stress free environment by eliminating fatigue and tiredness hence enabling employees to work for longer hours leading an increased output and in turns improving the company’s sales capacity a factor that might not be found with other competing companies
If this are to make happen the way they are supposed to, then the ability to motivate one’s self as well as the employees is crucial. It is important to note that the manager is the driving force of the organization hence needs to be motivated as well. It is like having a car with the passengers in with a faulty engine. The engine will definitely not work hence the need for the manager to be motivated as well. The fruits and the benefits of motivation is to get the results desired by the organization a factor that has seen the Shevy chase Trust company have a competitive advantage over other companies. (Reiss, 2000)
Online marketing is another success strategy used by the Shevy chase Trust company to reach a wider client base this online marketing through the internet has made it easier for the customers order for their items of choice by just a click of a button, delivery is also made through efficient curler services offered by the company this has enable the customer to receive good and services cat their own disposal. (Deci, 2008)
Product diversification is another strategy applied by the Shevy chase Trust company that has seen a production of arrange of products to choose from this gives their clients an option to decide on what to purchase out of the many offered this is has led to increased sales compared to other company that are producing one type of product this has made the company realize an advantage in terms of market segment in an environment where their exist a cutthroat competition, the online marketing strategy is very viable to the company since it enables their market base to widen hence increasing their clients this enables them sale more products hence making more profit.