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Term paper on key components of emotional intelligence relation to business
Trader joes level of management
Term paper on key components of emotional intelligence relation to business
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Introduction According to the introductory description in the provided Trader Joe’s case study, it’s quite evident that Trader Joe’s, a multi-billion dollar supermarket chain, cannot be compared to a commonplace grocery shopping center since it has managed to flourish amid the growing competition. Trader Joe’s has succeeded in gaining competitive advantage in the industry through focus on the key competencies for leadership success that are emphasized by emotional intelligence, such as self-awareness, social awareness, self-management and relationship management (Golinger, 2009; Hughes & Terrell, 2012). However, this case study seeks to examine approaches utilized by Trader Joe’s to promote a positive work environment in order to increase job satisfaction, and the management process used to develop its employees (Ager & Roberto, 2013). Moreover, it suggests ways in which the four EI competencies can be used by leaders to effectively manage relationships, as well as recommend the best leadership practices to increase Trader Joe’s competitive edge. Promoting a Positive work Environment (Job satisfaction and Performance) Employee satisfaction is often founded on several need–based Planning is an important management process that not only helps ensure employee productivity, but also allows for effective allocation of organizational resources, both financial and human resources. Based on Trader Joe’s case study, part of management’s process to develop employs includes training of employees through training programs like Trader Joe’s University. Also, the fun based design of the employees’ workplace provides a feeling of serenity to the employees. In fact Schermerhorn (2012) states that this approach provides employees with the freedom to be themselves, as well as nurture employee
Customer loyalty is another competitive advantage. Trader Joe’s doesn’t provide membership card to the customer, however customer still would like to choose Trader Joe’s just because of this
On April 4, 2008 Goldman, Sachs & Co. submitted a prepared prospectus for Dollar General Corporation. According to the prospectus, Dollar General is the largest discount retailer in the United States by number of stores. They serve a broad customer base and majority of products are priced at $10 or less and approximately 30% of products are price at $1 or less. They believe that their combination of value and convenience is what has kept them ahead of their competitors since opening in 1955. Dollar General has had substantial growth in recent years, growing their number of stores from 5,540 as of February 1, 2002 to 8,229 as of February 2, 2007. This growth encouraged Richard Dreiling,
Managers know the importance of having positive relationships with their employees. It boosts the company’s goals while the lack of any relationship with the workers may lead to losses in the business. Most managers rarely know that they are looked up to by many employees and, as such, should be careful with the actions they take. Lee b. Bolman & Terrence E. Deal, the authors of the book The Reframing Organizations, point out that the kind of measures taken in the business influences the employees acts and thoughts. In particular, this book gives insight to managers on how to relate to their subordinates. The discussion is carried out on the three parts of the book that highlight the missteps taken by managers as they try to improve their businesses.
The retail grocery industry consists of the following strategic groups: grocery chains, small and large discount grocery (e.g. Dollar Stores and Walmart), wholesalers, and fresh-focused and specialty markets. Trader Joe’s could be categorized as a specialty fresh-focused store and it is often compared to Whole Foods, another organic store, defining it as its key competitor. Yet, it still competes with the large grocery retailers and now, Amazon grocery services.
Publix Super Markets, Inc. is a Florida-based grocery chain that has flourished since its inception in 1930. The first store opened in Winter Haven, Florida and to this day Publix has expanded to well over 1,000 stores in Florida, Georgia, South Carolina, Alabama and Tennessee. The supermarket chain now boasts over $25 billion in sales annually (Mujtaba and Johnson, 2012). To withstand the test of time and develop such a stronghold on the market, Publix has excelled in its global business community or macroenvironment, as well as its market environment or microenvironment.
This case study demonstrates a young woman leader, Toby Johnson, who used to serve in the military as a pilot and attended Harvard Business School, joined PepsiCo’s Leadership Development Program (LDP), and was working in the management team at the Williamsport plant. She determined to forge ahead, and led the plant to achieve the Level 3 CI and also won the Doolin Award, which the Williamsport plant had never achieved before. The problem that Johnson encounters currently is that if the plant should continue to forge ahead and achieve the ultimate Level 4 CI, which will cost huge amount of money and efforts with the risk of her sudden leave of plant.
Key Issues: At the end of 2012, Costco was a successful business; however, there are some issues that they would need to deal with. These issues mainly arise from their previous successful ventures as a warehouse wholesale company. The first issue is that Costco has competitors that can actually be and are a threat to their success. Competition allows a company to improve itself and prove its prowess to its customers. However, when a competitor is able to provide the service at a much reduced cost, problems will arise.
“Without change there is no innovation, creativity, or incentive for improvement. Those who initiate change will have a better opportunity to manage the change that is inevitable.” William Pollard’s, a 20th century physicist, words show us the power of being proactive, and igniting change to strengthen a company’s productive climate (Sellers, Boone, Harper, 2011). Acme Airlines flight attendants lacked incentive to improve the quality of their work, as a result of distrustful management and overall frustration within the company. Acme took successful steps to rebuild their FA program into a more relationship oriented work environment. Through an understanding of effective leadership, we will use the
A1: Dollar General's main business strategy is to focus on being the leading distributors of consumable basics, with 30% of the merchandise at $1.00 or less. Dollar General believes in maintaining an assortment of consumable merchandise and making shopping for everyday items hassle free and simplistic.
Trader Joe’s has taken various strategic steps over the years to ensure employee satisfaction. These steps to encourage employee satisfaction include, but not limited to employee empowerment, training employees on products, and encouragement of promotion from within.
The quality of any organization that uses servant leadership improves, because of the organization’s continuous efforts on development. These efforts help create more efficient, content, empowered and innovative teams to generate more profitability (Schmidt, 2013). Starbucks’ employee satisfaction rate has increased and they have markedly grown since 2014 with their attempt to build a community by offering the free college tuition (Business Wire,
First, in relation to the organization’s most important asset, people, Sears has failed to recognize the distinctive competences that lie in the skills and abilities of their own employees. Sears once was a very successful organization in relation to how they treat their employees. Sears was one of the pioneers of measuring employee engagement in the retail industry by creating a set of measures known as Total Performance Indicators. People who enjoy going to work every day, as a result of a high-performing company culture, increases their productivity, giving them a higher return on salary. This model of employee engagement worked very well for Sears in the past, however, in recent years, Sears has strayed away from this core competency.
Self-awareness, emotional intelligence and self-concept come into play when also relating with others, keeping in mind that there are different personalities in a workplace and they all play different roles in organizational success. Having insight into one’s self enhances understanding of others (GCU, 2016). A conscious leader who is self-aware, emotionally intelligent and has self-concept will be able to effectively manage people and handle conflict in a manner that produces a positive result. For instance, at my previous job, an open position for a new team lead was advertised. My former manager interviewed internally and also interviewed external candidates. She eventually hired an external candidate as a new employee, however, one of the long term employees that was also interviewed for the position was not happy the job was given to a new hire. My manager at the time was able to detect through emotional intelligence that the employee was not happy due to her sad mood and change in interactive behavior. She then had a meeting with the employee, they both came to a resolution that made the employee regain her positive attitude towards her job. This goes to show that anger and jealousy, both potent emotions, often push aside logic and rationality in the workplace (Kreitner & Kinicki, 2013), hence the need for one to be aware of personalities in the workplace in order to become an effective conscious
McDonald’s is known for its greasy and unhealthy food, but many disagree that McDonald’s is to blame for people, particularly children, being overweight. Schlosser creates this image that McDonald’s is to blame for the escalated weight of people, specifically Americans. In this article, Schlosser ignores the multiple other causes of obesity. Many people are overweight due to health issues and prescribed medications that can cause increased weight gain. Schlosser is so focused on his view of McDonald’s being bad that he does very little to address the other causes and factors for weight gain. Eating at McDonald’s is more about personal choice, parenting and lifestyle issues. Americans choose not to exercise, and they choose to play video games instead of participating in actual sports; they eat McDonald’s instead of healthy and homemade meals. If a
Introduction People always talk about how important it is for companies to have a good leader, someone who not only keeps the blue numbers, but also achieves a loyalty from customers, pleasant working environment, successful business partnerships and ahead of the competition. To exercise effective leadership, the individual must meet certain parameters, which if they are carried out successfully all of them will ensure a long life to the organization. The relationship with partners should be based on trust. Do not just give employees a list of tasks, encourage their views so that their skills might be enhanced for advancement.