A Market oriented approach means a business reacts to what customers want. The decisions taken are base around information about customers' needs and wants, rather than what the business thinks is right for the customer. Most successful businesses take a Market oriented approach.
Introduction
This article examines the factors that have motivate Generation X and Y over time and the emerging attributes that will be impacting Generation Z. More specifically, two hundred recent graduates and Executive MBA students (Generation X) as well as undergraduates (Generation Y) at Fordham University Schools of Business were survey recently and were ask to rank six (out of twenty-five) factors they consider most important in motivating them to do their best work on the job.
When comparing Generation X and Generation Y, the results are very similar. Both groups rank Respect for me as a person and Good Pay to be their top motivators. While both groups have similar motivators in their top six including Chance for promotion, Opportunity to do interesting work and Opportunity for self-development and improvement, Generation Y differs greatly as Getting along well with others on the job rank third in their top six.
The factors
This factor is consider a “hybrid factor” that crosses motivation and maintenance needs. While this “hybrid factor” does not appear as an important motivator among the Baby Boom generation. It is project that Getting along well with others on the job will be a critical factor especially among Generation Z for a variety of reasons predominately their technical background.
Compare to earlier generations in the work force, Generations X and Y are still motivate more by the prospect of steady employment and a chance for promotion. But getting along well with others on the job has surface as a key motivator for Generation Y.
These were the findings of a 2007 survey, conduct by the authors of 200 recent graduates and Executive MBA students (Generation X) and current undergraduates (Generation Y) of Fordham University Schools of Business. The students who participate in the study were ask to rank the six (of 25) factors they consider most important in motivating them to do their best work.
The results were compare with the rankings by two groups of business executives, including baby boomers and pre-boomers.
Column A in Figure 1 indicates the rankings by 6,000 managers who were survey during a conference in the early 1970s. The managers rank the following six employment conditions as their principal motivators in the workplace.
- Respect for me as a person
- Good pay
- Opportunity to do interesting work
- Opportunity for self-development and improvement
- Large amount of freedom on the job
- Feeling my job is important
Now compare these results with Column B, the rankings by 500 representatives of different companies and government agencies, who were attending a university executive development program in the mid- 1980s.
The factors they consider key motivators are as follows:
- Respect for me as a person
- Good pay
- Opportunity to do interesting work
- Feeling my job is important
- Opportunity for self-development and improvement
- Large amount of freedom on the job
Performance & approach
When compare to the health industry, we can see the similarity of successful pattern. A doctor will successfully overcome the problem of his patients' health problems when the doctor can properly diagnose the illness. Likewise, in the business world, market-oriented approach can encourage companies. To increase a better understanding of consumers, know the competitor well, and understand marketing environment. By knowing these, you can achieve a high performance.
Base on research at market-oriented companies, we find that the outcome is associated with market-oriented approach. A good outcome is also influenced by relationships and perceptions of managers regarding the company's overall performance. The perception of managers and financial performance, and perceptions of managers and new product performance.
Conclusion
The conclusion is there is close relationship between market oriented approach and business performance. The simple explanation is, when you make an adaptation base on your market feedback. You have done an improvement in your business. By improving your approach, market will respond you better. When you get a better response from the market you will get a loyal customer. As I mention in another article, loyal customer makes your sales growing, because loyal customer usually recommends your product (do a word of mouth marketing) to their relatives. They can influence their relatives to buy your product.
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