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 Assessment 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.
Mindful 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.
Mindful Toys has operated as a medium-sized company for about 20 years. Their compensation to date has been based on longevity at the company. Employees’ 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.
● Explain the process by which a company would link individual employee performance to addressing the company objectives.
● Explain how Mindful Toys 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 method of evaluation you chose.
Disclaimer: The organization and characters depicted in this exercise are fictional. Any resemblance to real organizations or individuals is purely coincidental.
Minimum Submission Requirements
Address all the checklist items in a thorough manner.
Provide your minimum 2-page (i.e., 500-word) expository essay in APA format and citation style with additional title and references 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.
Papers are written from scratch We have molded our writers to develop content for all assignments from scratch. This way, we promote originality and reduce cases of plagiarism that might affect your grades and hinder you from realizing your academic goals. We encourage our clients to indicate the deliverables that should be featured in the final paper. Our online help services allow one to make a clarification and even interact with the writer directly to help them understand the needs of the assignment. Many of our writers are professional tutors who understand the approaches that should be used to fulfill the specified instructions. Every time a client places an order on our system, we link them with the most qualified writer in the subject of interest.
YUnlike other writing companies, we encourage clients to draw back their money at any stage of the writing process if they experience any uncertainties with the quality of generated content. However, you will hardly have to make this decision because of our business approach that suits your needs.
We have an advanced plagiarism-detection system that flags any work that fails to meet the required academic expectations. Our company thrives in honesty, and as such, you will be guaranteed to achieve a paper that meets your expectations.
We encourage our clients to return papers for revision seven days after the last submission for free. Depending on the proposed changes, we will work on your article to achieve the desired expectations.
We uphold confidentiality and privacy through our interactions with clients, an aspect that has enhanced our relationship with prospective customers seeking for assignment help. We do not disclose your information with third-parties
We boast of a diverse pool of ENL and ESL professionals who respond with a personal touch to the needs of every client. Our focus is to become the best platform that offers specialized services to individuals to accomplish their academic goals.