Introduction
The company, W.L. Gore, has been top-rated for manufacturing protective wear fabric. Its success has been the result of the approaches adopted by the organization towards its management. The strategy of teamwork has been beneficial in this context. The two approaches to management utilized by Gore have ensured the maintenance of fairness and market competitiveness.
Compensation Practices at Gore
The company’s approach towards compensation is adequate and has contributed to the organisation’s success. Moreover, using two approaches in this regard is a specific practice, as it is quite uncommon. Gore has focused on the two most important aspects of organizational management. These two elements are the fair environment of the organization and a market-competitive organizational structure. The foremost part of the process regarding significance is the enhancement of the workforce’s productivity. It is further accompanied by the support of the staff and maximizing the company’s efficiency through the workers’ positive motivation.
Although the first approach is commonly used, the way Gore has applied it is excellent.
Pros of the First Approach.
The firm has emphasized inspiring the employees so that they may become increasingly ambitious and achieve the stated goals. Moreover, the company ensures that the employees have the necessary platforms to demonstrate their abilities and bring about innovations in the organization.
Cons of the First Approach.
The first approach lacks any comparison of the performances of the staff members. It can be instrumental if done in the right way. Another drawback is the complete impossibility of mistreatment of the workers.
The next approach is an innovative one. It is gradually becoming popular among corporations.
Pros of the Second Approach.
This approach is rigorous and results in increased satisfaction among the employees as well as the corporate structure. Another significant advantage is the feedback provided by the coworkers. It leads to a harmonious workplace, with better quality work.
Cons of the Second Approach.
However, competition or other factors may result in the coworkers hiding the truth from each other. Close, friendly relations among coworkers may also compromise the authenticity of the feedback.
Goals of Internal Fairness and External Competitiveness of Gore’s Approaches
The uniqueness and the practical application of the two approaches make it possible for Gore to accomplish their goals. The chances of success are further increased as both approaches are moderate and, therefore are readily accepted by the employees.
Furthermore, both approaches work under the principles of interconnection and contribution of all the employees. Hence, the organization lacks a defined hierarchy. Such circumstances have made it easy for the employees to rely upon and trust their coworkers without bias. Therefore, the management’s effective implementation of these approaches would ensure that the company would achieve its internal fairness and external competitiveness goals.
Working at Gore’s
I would surely want to work for the company. This is due to the uniqueness and innovative nature of the organization. The enabling environment would greatly assist in my personal growth, and I could use my full potential towards the benefit of the company and society. Another reason for my desire to work for Gore is its excellent reputation in the market. It utilizes the latest technology and research in its operations. The management is very efficient, unlike any other organization. The principal point that represents the organisation’s efficiency is its emphasis on the respect of the employees. None of the employees is disrespected. Instead, they are all treated equally and provided with positive motivations that enhance their productivity.
Summary and Conclusions
W.L. Gore is rightfully considered one of the world’s most effective and successful organizations. The management approaches are according to the highest standards and are based on the principles of respect. The employees are considered the most critical resource and their input and feedback are valued. Combining all these factors is the primary contributing factor towards its success. Therefore, it is rightfully included in the Fortune’s list of best 100 companies to work for.
