College of Arts and Sciences
Department of Business Management and Entrepreneurship
In partial fulfilment for the subject course
ENG04 – Research Method and Applications
RELEVANCE IN BUSINESS PRODUCTIVITY
March 11, 2010
THE PROBLEM --- ITS BACKGROUND
Employee empowerment is a crucial part in satisfying and improving productivity rate. By doing so, employees are more productive and able to accomplish any tasks given to them by their superiors.
Statement of the Problem
The researchers undertook the study to assess the productivity of employees in Philtrust Bank Makati and Taft Ave. branches. It seeks to answer the following specific questions: (1) What is the profile of the respondents in terms of:
(c) Academic qualification
(d) Number of years in the company
(2) What is the degree of employee empowerment in Philtrust Bank? (3) How does the level of employee empowerment affect the productivity rate of the company? (4) What are the advantages of employee empowerment as preferred by the respondents? (5) What are the disadvantages of employee empowerment as preferred by the respondents?
Importance of the study
A marketing guru and global practice leader for The Gallop Organization, William J. McEwen, said the most frequently discussed company assets are those that are represented by or have been established through the traditional “four Ps” of marketing: product, place, promotion, and price. However, there are other company assets that are just as important but are excluded because either they are not clearly recognized as “assets” or more effort is required to manage them effectively. “These are the assets that surround the important fifth ‘P:’ people; human assets; human capital” (McEwen, 2001). Empowerment strongly affects other problems companies commonly face. These problems include, but not limited to, such things as turnover, productivity, and product and service quality. By empowering employees, companies should be able to solve these and other common problems. This study seeks to determine the elements that empower employees. When identified, companies should be able to use these elements as tools to empower their employees, and therefore obtaining more control over productivity and service quality.
Definition of Terms
Empowerment. It is a management practice of sharing information, rewards and power with employees so that they can take initiative and make decisions to solve problems and improve service and performance. Business Productivity. It is a measure relating a quantity or quality of output to the inputs required to produce it. Entire scope of a project encompassing all people, equipment, material, and other goods and services required to fulfil the contractor’s obligations under a contract. Management. Organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of clearly defined objectives. Turnover. Number of employees hired to replace those who left or were fired during a 12 month period.
Scope and the Delimitations of the Study
The research deals with empowerment levels with regards the productivity of employees in Philtrust Bank Makati and Taft Ave. branch. This paper will also view customer satisfaction as an end result of fully motivated and empowered employees in an organization.
REVIEW OF RELATED LITERATURE
Empowerment is the oil that lubricates the exercise of learning. Talented and empowered human capital is becoming the prime...