Organisational Values case study on Poundland Essay Example

Organisational Values case study on Poundland Essay Example Organisational Values case study on Poundland Essay Organisational Values case study on Poundland Essay Theory Into Practice Project Organization Values Case Study On Poundland Table of content S. NO CONTENT PAGE NO Executive Summary 3 2. Introduction 4 3. A. ) Poundland 4. B. ) Organizational Values of Poundland C. ) Research Question 6. D. ) Research Aim 5 7 E. ) Research Objective 8. F. ) Research Method 9. G. ) What Follows 10. Literature Review 11. A. ) Organizational values 12. B. ) Importance of Organizational Values 13. C. ) Six Organizational values of Poundland 8 14. a. ) Customer First 15. b. ) Keep it simple 16. c. ) Treat every pound as your own 17. d. Recognition and celebration 9 18. e. Individual responsibility for team delivery 19. f. ) Respect each other Methodology 10 21. Result 11 Discussion 14 Conclusion Recommendation 16 24. Reference Bibliography 25. Appendix 17 Executive summary: The report reveals the organizational values importance in an organization. The role of these values in an organization is discussed. The aim and objective of the research is discusse d. The method to achieve the aim is also discussed in detail. Literature reviews were done to prove the importance of organizational values. Six organizational values of Poundland were discussed to prove the impact of rganizational values on individual and personal life . Sampling method is used in this research. Sample data from the colleague is collected from Poundland store and these data are processed. The survey result has been helpful in highlighting the importance of organisational values. The discussion was carried upon the result of the methodology, which was used to prove the necessity of organisational value in an organization. Appropriate recommendations have been given to implement these values in an organisation. Conclusion has been done to state the aim of the research as successfully completed to prove the need for the organisational value in an organisation. The main aim of this research is to evaluate the importance of organization value and why every organization is giving more importance to its organization value. Organization values are an important element in any organization. Before starting an organization, the company makes a clear organization values so the vision and mission of the company is carried forward without any deviation. In this report the organization values are critically analysed and the impact on the employee are also nalysed. The importances of organization values are explored and the impact of the values on the Business is analysed. For this case study POUNDLAND as an organization is been selected and its organization values are discussed in this report. Poundland has six organization values. This report will evaluate the values and impact on the employee and the result on the business. A. ) POUNDLAND: Poundland is Europes biggest single price discount retailer and winner of the 2011 Discount Retailer of the year. It has over 400 stores in the 13K, including Northern Ireland and sells quality top brands and own brand products for all for the single price point of El each, providing customers with amazing value every day. Serving over 4. 5 million customers every week, Poundland is an irresistible shopping experience where shoppers are guaranteed to find over 3000 quality products and over 1000 Top brands, across 17 shopping categories including food and drink, health and beauty, household, gardening, DIY, Pet, Stationery, books, DVDs and toys. With a growth strategy of at least 60 new stores every year, Poundland is again on track to create approximately 2000 new Jobs. B. Organization Values of Poundland: At Poundland, The Company expect every colleague to live the organization values, so it really important that every individual mean by them and know what they can do to show the company that they are up for the challenge. Poundland has six values they are Customers are our business, Keep it simple, Treat Every Pound as Your Own, Recognise and celebrate success, individual responsibility for team delivery and Respect each other. This values had a greater impact on every individual working in Poundland, this motivated in choosing this topic for the research. The real secret ehind the success of Poundland is this strategy of implementing the organizational value in an effective way. C. ) Research Question: This research is dealing with the organizational value and highlighting the importance of organizational values. The report will be fully focused on organizational values and the subject will be within the scope of organizational the business. This report will analyse the strategy of implementing the organizational values will affect the growth of the organization. Discuss the necessity of Organizational values in an organization and highlight the importance of Organizational values. D. ) Research Aim: Research aim is determine the need for organizational values in an organization. The research will also focus on the importance of organizational values and the impact it makes on organization. The aim is to project about organizational values and its importance in an organization. E. Research Objective: To critically evaluate academic and corporate literature in regarding with Organizational Values. To analyse the impact of Organizational Values in an organization and its importance. To examine the benefits that resulted on an organization by adopting Organizational Values. F. ) Research Method: Survey method is used in this research project. Six organizational values where used in the questioner and put across three store of Poundland. Data will be collected and processed and result will highlight the growth in the performance and moral disciplinary of individual in the organization. G. ) What Follows? : This research will continue with Literature review on Organization Values. This chapter will contain the proper definition of Organization values, followed by the importance of organization values. Then measuring Organization values will be discussed, followed by Methodology. The next chapter will follow with discussion to upport the Organizational value in an organization. The conclusion will be followed after the discussion. Literature review: Before moving into the literature review, we need to understand the term called Organizational values. Values are conceptualized as fundamental beliefs and unwritten standards that guide behaviour and Judgment across situation in an organization. Values are defined as fundamental beliefs and assumption that guide individual behaviour and Judgments across situation. Organizationally, values are indicative of the most defining characteristics of an institution. A. )Organizational Values: Organizational Values have long been consideration important to explaining action in and around organization. For instance, organization has been thought to reflect the values of their members, especially their founders and executives. The values must be followed by every individuals, the effective way to implement is that the top management must follow these value. So the values are carried from top to the lower level in an organization. So the action in and around the organization is focused and organization performance. So these values will come into action and the actions are the reflection of these values. These values must be priorities so that even the top management must follow these values in the organization. Organizational Values are a critical element of organizational culture and leadership, impacting both individual and organizational performance. Values have been associated with, for example Job satisfaction, organizational commitment, turnover, trust and performance. The role of organizational values clearly has a role to play in organization performance. This shows that these values can make an impact on the organization performance. This values also impact on the individual performance eading to organization result. These values have impact on Job satisfaction, if the employee is happy with the organization values and this will reflect on employee work environment. If the employee is comfortable with the organization process, then it will reflect in the employee performance. These values must mould the individual internally, so they all can contribute to the organization growth together. Many organizations emphasize promoting values such as openness, trust, autonomy, initiative etc. This can be seen in their mission, vision, and core values statements that they proudly display. The organization projects their mission and vision statement and their values are given more priority. This values are introduce first to any individuals who are about to Join the organization. Every organization creates their own mission and vision statement and they give importance in implementing these core values in the organization. The success of the implementation depends on way the employees are treated. Since employees are the face of any organization, it depends on them to reflect these values. The core values of the organization is very critical, so the message must be properly design that it may enable a employee who orks in the organization to have a clear picture about the mission of the organization. These statements must be simple to understand and must be powerful. The values must be implemented although the organization, so its followed although the organization. It should be so powerful, so every individual must be follow to achieve the organization goal together as a team. In support to the recent literature review, organizations place more emphasis on community problem solving, neighbourhood disorder, local crime rate and fear of crime as they assess the performance of individual officers. The individual personal discipline is moulded by the impact of the organizational values. Since the individual spends most of his time at work, he is living with the organizational values which internally discipline him. The individual maintain these good values within the community where he shares his time. Some values may influence individuals day today activity. These values reflect on the individual to have a self discipline life. This will reflect on the community where lives and for the people around him. These may enable an individual from eliminating bad behaviour and following good values. This will help the individual to have smooth life in the organization. Since the action of the individuals action in and out are reflected by the organizational values. The organizational value plays a major role in an organization and it is a necessity that every organization must have its clear organizational value. The core values are important since without these values there will not be clarity in organization procedure. As the organizations grow by the period, the individual numbers will also grow in an organization. So if every individual takes their own decision because they ont have any guideline to take decision making. So its necessary to give a procedure organizational value, so all the individual inside the organization will bide with these values and contribute to the organizational growth. Organizational values serve many purposes. It sets the tone of the environment, bonds people together, facilitates work behaviour and achievement of shared goals. It also represent the ambitions that people hold for the organization as a living system because values define who and what each person has to offer as a human being to the overall enterprise. Organizational values have been shown to be critical variables in the decision by firms to adopt environmental initiatives. The first author says that the organizational value set the tone of the environment. The value thus has an influence around the individual making a healthy environment around him and binds people. The second author says that the values are critical element in making a decision to adopt environmental initiatives. Thus the values serve as an important environmental element to set a better place to work in the organization. Thus enabling work behaviour in a healthy manner and achieving the organizational oal together. Organizational commitment is a key construct in organizational psychology and has been defined as a psychological link between an employee and his organization that makes it less likely that the employee will voluntarily leave the organization. The researcher says that the individual have a bond with the organization, since the individual have been influenced by the values. This may result in, that the individual from moving out of the organization. Organizational values more supportive of balance also reported greater Joy in work, less Job stress, greater satisfaction with heir Jobs, careers and family, less intent to quit, fewer symptoms and higher levels of emotional well being. The researcher says that the values make a balance in work pressure and satisfaction. The value increases the greater Joy in work and simultaneously decreases the Job stress in the organization. Thus these result in that an individual finds it hard to leave the organization. The importances of the organizational values are discussed by the researcher. These values make a healthy environment in and around the individual in an organization. Thus result in the individual to have a bond between the employees in the rganization. The values discipline the individual to make a sensible environment to work and have a peace of mind. The values give a greater Job satisfaction and allowing the individual to have less stress at work. The individual have less intent to quit since he or she is enjoying the time they spend in the organization. The organizational values are detail discussed and the importances of values are highlighted. There are numerous values from different organization. For this research six values are discussed in this topic. Poundland has six values and these are discussed using literature. Customers Service: Based on service related literature, the authors indicate that empowerment, service training, and service rewards are positively related to Job satisfaction and organizational commitment. Empowerment is a key factor to enhance Job satisfaction and organizational commitment of contact employees, because thereby they obtain the flexibility to make on the spot decision. An effective training program also affects service providers Job environment satisfaction and also increase their organizational commitment. The researcher says that for better service, and customer satisfaction, mpowerment and service training are needed. It has been found that the qualities considered most important by organizational customers are competitiveness, reliability and adaptability. The supplier must demonstrate an ability to resolve the customers problem. The researcher points the importance of understanding the customer requirement to provide a better service and the adaptability to change to situation. IF the requirement is received an accurate solution can be given and this will increase the customer service. This will promote the brand name, fame and reputation of the organisation. Keep it simple: The organisation always wants it values to kept it simple, so it easy to understand and follow them. The values must be designed in such a way that the least individual will be eligible to follow it without any difficulty. This will result in individual performance and in the environment around him or her. So simplicity of the values is really important, that this can be implemented easily in any environment and effective result can be obtained. Treating organization as Your Own: Treating organisation wealth as your own wealth, this will result in proper maintenance of the organisation. If a loose happens to the organisation, if this value is influence on an individual, he or she will automatically find a solution for the problem and try to recover from the fall. So these make the environment to trust Recognise and celebrate success: Recognition is still an important management tool it is slightly different. Usually it is a non financial award given to employees selectively, in appreciation of a high level of behaviour or accomplishment that is not dependent on achievement against a given target. Recognition can be as simple as giving someone feedback on what they have done right. It is about acknowledging effort, commitment and learning, even if the outcomes were not as planned and it is also about, most importantly celebrating success. The researcher says that recognition is need in an organization; it need not be financial benefit, but to recognise the quality of work at right time. This may lead to individual better performance and making a healthy work environment. There is a widespread recognition that the dimensions of performance are broader than financial performance alone, that financial performance indicators measures and make visible only limited aspects of an organisations performance. The author tells that the financial performances have limitation and recognition have broader scope. Recognition must be done at the right time and the success must be celebrated. So this will boost the individual confidence and enabling him to improve his core competency in future. It is necessary that individual success to be celebrated in the organisation, giving him or her a appropriate recognition. Individual responsibility for team delivery: The value of an artificial system lies in its ability to maximize quality of life while minimizing restrictions on individual human freedoms. Each individual have their wn responsibility in the organisation. If they fulfil their responsibility, these internally reflect on their success in the organisation. Abiding with the responsibility is very important for any individual in an organisation. Respect each other: Respect is a thin concept we qualify for respect simply in virtue of our humanity. All who meet this minimal condition are entitled to an equal share of respect. One important difference between esteem and respect is that while esteem is clearly an important good, we are not entitled to it. We cannot demand it of others rather, it must be freely given if is to be genuine. Treat everyone in the organisation as yourself. Do to other what you want the other to do to you. This will make the environment to have a bond between people in the organisation. Respect denotes the belief that the self is valued as a member of the organisation, which can be communicated for instance by Just treatment. Researcher says that the treatment which is share in the environment must be highly respectable and given more Methodology: A convenience sample consisting of 50 sales assistance, across Poundland. This sales assistance contributes around 75 percentage of the employee in each store. The ample are taken in Area 34 in which the following stores are include, Deptford, Greenwich, Peckham, Lewisham, Eltham, Catford and Woolwich. These sales assistance Jobs are to provide customer service, shop floor filling and maintain the sales. They work in warehouse and shop floor equally. The questioner was constructed using 18 values; the questioner table was based on the value table constructed by . The questioner was classified into three major values such as organizational values, personal values and professional values. In organizational values the questioners contain six values which they follow in the organization uring their work. In Personal values the questioner was design to touch the value that impact on their day to day life. In Professional values key elemental values were listed in the table, this is done to prove the impact of the organizational value on the professional life. The collected data were then processed by the team supervisors in order to check the data from the organizational values. Then the corrected data were taken to the store manager to get the approval that the processed data were correct. In the whole process the individual identification was not revealed. The data related o the individual were collect except the personal information such as name was excluded. The feedback was asked to rated in rank the importance of each value on a 7- point Likert scale (1 = the least importance; 7 = the most importance). Figure 1: Values of three components Results: Sample Profile: The questioner was circulated to store in area 34 and the supervisor was given guidelines to how to carry out the questioner section. A week time was given to the colleague to complete the questioner and return back to the supervisor. The colleague was very cooperative and the questioner was returned successfully. The