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• W840764817 abstract "AbstractOrganizations are established on the premise of establishing goals and achieving them. Different strategies are framed and implemented in order to respond to the needs of the customers/clients. The motive of increasing profitability has been finding dominance in the organizational strategies. However in the last few decades there has been a consensus amongst the organizational heads to respond to the social responsibility and to share the burden of respective governments by investing in social infrastructure and related areas.As human beings aspire for attaining happiness, organizations also want to attain happiness. A happy organization is such organization where the stakeholders are happy. Different stakeholders derive satisfaction viz-a-viz happiness through different activities and organizational initiatives. Employees have to derive satisfaction from their work, salary, working conditions, relationships etc. Customers have to derive satisfaction by product/service value and quality, society has to derive satisfaction by seeing the organization helping it and participating in the improvement of its quality of life and the promoters have to derive satisfaction by maintaining sustainable profits. This paper is an attempt to study value based management from the perspective of organizational happiness.Keywords: Happiness, Organizations, Organizational Happiness, Value-Based Management, Stakeholders, Job/customer Satisfaction.IntroductionAs an individual we aspire to achieve our individual goal/s. It is almost impossible for us as an individual to achieve our goal. Hence, in the process we join or start an organization. As an entity organization has its own set of goals and objectives. The match of individual goal/s and organizational goal/s allows the individual to perform his/her best in the interest of the organization. As a result as individuals perform, they reach nearer to the organizational goal and hence it takes us nearer to the individual goal as well. However, it is not as smooth a sailing as it looks. The better is the match between individual goal/s of the employees and organizational goal, the better is the result as well as the environment of the organization. At macro level the organizations need to provide an environment where individuals perform their best at micro level.Our concentration here is on a business organization which aspires for better returns on its capital employed. Apart from returns on the capital and improvement in profitability, an organization should simultaneously make sure that a better value is served to its stakeholders. For better delivery of value to the customers, resource-based view has also been identified as an important strategy11 which is also one of the bases for Value-Based Management (VBM). Measurable as well as non-measurable variables contribute to corporate well-being which makes an organization, a happy organization. After all ultimate goal of human life is attainment of happiness. We all strive for happiness. On the other side, business organizations strive for Oiganizational Happiness (OH) which ideally should be the ultimate goal of an organization.What is Organizational Happiness?The concept of OH surrounds the happiness of stakeholders. As happiness is derived from satisfaction, OH targets (figure 1) towards satisfying employees, management and institutional partners (internal targets) on one hand and satisfy the society, suppliers and its clients and customers (external targets) on the other hand7. Galbreath3 also talks about the importance of customers, employees, partners and suppliers and states that the relationships with them contain value which is intangible in nature. This value plays an important role for OH.There has been great deal of literature on job satisfaction which deals in advocating the importance of employees and their satisfaction level. Satisfaction of employees is one of the most important variables to influence their performance viz-a-viz organizational performance. …" @default.
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• W840764817 date "2014-06-01" @default.
• W840764817 modified "2023-09-27" @default.
• W840764817 title "Attaining Organizational Happiness through Value-Based Management - a Conceptual Framework" @default.
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