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How successfully does tourist industry in the Canaries add value? To what extent is Maslow's hierarchy is applied to motivate staff in Souvenir Palace?

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How successfully does tourist industry in the Canaries add value? To what extent is Maslow's hierarchy is applied to motivate staff in Souvenir Palace? Souvenir Palace, a retail outlet company started in the year 1991 by Jose Ignacio. They are specialist sellers in Souvenirs. Apart from that, they have also started to sell cigarettes, tobacco and electronics. This decision was taken a couple of years back when the company was making success in the market by opening their shop no. 5 in the last 12 months. Now, they have more than 200 employees working in the company over different 40 department stores throughout the island of Gran Canaria which is located in Spain. Now in the future they are thinking of selling perfumes as well. One of the retail outlets of the Souvenir Palace company. The key factor behind the company's success has been the huge amount of tourism industry that is located on the island. This been a huge fact on the success of the record sale of the year that the company made (1.6 million � - 250 million pesetas)1 in the year 2000. ...read more.


This is done by team working, as this would help all of the employees become good colleagues having good relationship which could result to both, formal and informal communication within the company. Finally, he would decide to go for the self-actualisation, this means that he gives his employees higher responsibility than they normally have and to praise them for their job well done as they could feel good and also that the company needs them and they are a part of their organisation. However, there are limitations for promoting employees. These limitations are that not many people can be promoted, because the company doesn't need so many higher levels of staff, so not many people can be promoted. Also, not much responsibility could be given to any employee, because each employee has only a particular task. We can also tell that the company is doing very well by making some simple comparisons between the different companies on the island. Reports show that souvenir Palace has done far better and kept ahead of the game.4 One way to show this is that they have kept expanding their business while others have been the same. ...read more.


They need to reach to their full potential, which is the self-actualisation. To do this one should delegate more responsibilities to their managers. This makes the managers feel that they are a part of the company and the company needs them. They will also feel that Mr. Jose Ignacio believes in them. This good belief in each other could help to build a strong relationship between the staff at the company. In conclusion, I think that the key factors behind the company's success have been the tourism in the island of Gran Canaria as well as the motivation strategies applied by Mr. Jose Ignacio. However, I think that the motivation factor dominates more than the tourism factor. This has been very noticeable after Mr. Jose Ignacio applied the Maslow's hierarchy of needs. 1 Taken from the company's balance sheets. 2 Taken from articles of the magazine - "Newsweek". 3 Made from the comparisons of the company's annual balance sheets. 4 Reports from the business analysts on the island. 5 Taken from the interview with Mr. Jose Ignacio. 6 Taken from the interview with Mr. Jose Ignacio. 7 From an article in the local newspaper, "La Provincia". Prakash Mirwani Business Coursework Page 1 of 3 Souvenir Palace ...read more.

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