Corkley & Finn Expand
Over the last 5 years, Corkley & Finn, a regional investment brokerage house, has been extremely profitable. Some of its largest deals have involved cooperation with investment brokers in other countries. Realizing that the world economy is likely to grow vigorously over the next several years, the company has decided to expand its operations and open overseas branches. In the beginning, the company intends to work in cooperation with other local brokerages; however, the company believes that within 5 years, it will have garnered enough business to break away and operate independently. For the time being, the firm intends to set up a small office in London and another in Tokyo.
The firm plans on sending four people to each of these offices and recruiting the remainder of the personnel from the local market. These new branch employees will have to spend time meeting potential clients and building trust. This will be followed by the opportunity to put together small financial deals and, it is hoped, much larger ones over time.
The company is prepared to invest whatever time or money is needed to make these two branches successful. "What we have to do," the president noted, "is establish an international presence and then build from there. We will need to hire people who are intensely loyal to us and use them as a cadre for expanding operations and becoming a major player in the international financial arena. One of our most important challenges will be to hire the right people and motivate them to do the type of job we want and stay with bus. After all, if we bring in people and train them how to do their jobs well and then they don't perform or they leave, all we've done is spend a lot of money for nothing and provide on-the-job training for our competitors. In this business, our people are the most important asset, and clients most often are swayed toward doing business with an investment broker with whom they think they can have a positive working relationship. The reputation of the firm is important, but it is always a function of the people who work there. Effective motivation of our people is the key to our ultimate success in these new branches."
Questions
1. In motivating the personnel in London and Tokyo, would the company find that the basic hierarchical needs of the workers were the same? Why or why not?
2. How could an understanding of the two-factor theory of motivation be of value in motivating the personnel at both of these locations? Would hygiene factors be more important to one of these groups than to the other? Would there be any difference in terms of the importance of motivators?
3. Using Figure 12-6 as a point of reference, what recommendation would you make regarding how to motivate the personnel in London? In Tokyo? Are there any significant differences between the two? If so, what are they? If not, why not?