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business revision 2018 > Unit 3 AOS 2 sac 2a > Flashcards

Unit 3 AOS 2 sac 2a Flashcards

1
Q

what are business objectives

A
  • The stated, measurable targets of what a business wants to achieve
  • All business objectives must consider stakeholders in the business and how the objective will effect/influence them
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2
Q

The importance of employees

A
  • Are a key stakeholder in achieving business objectives
  • play a key role in success
  • essential in the production process, manufacturing a product or providing a service
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3
Q

human resource manager

A
  • effective management of the formal relationship between employers and employees
  • Is the person/people that are responsible for maintaining the relationship between employees and the people
  • business gets the best out of its employers
  • ensuring employees have the right skills to carry out their roles
  • as the business grows HRM policies and practises need to be established
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4
Q

4 key roles of HR manager

A
  1. Recruitment and selection
  2. Occupational health and safety guidelines
  3. Performance management
  4. Evaluation policies
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5
Q

What a HRM can’t do

A
  • can’t tell other departments about what work needs to be done
  • have the authority to advise NOT to direct other line managers
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6
Q

employees are..

A
  • key for success of the business
  • If your employees are bad, business will be bad
  • Companies biggest expense
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7
Q

smart goals

A

Smart goals allow time for review, discussion and reflection.

Specific  
Measurable 
Achievable 
Realistic 
Time
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8
Q

Management by Objective (MBO)

A
  • process of setting goals using SMART principals which relate to the employees key responsibility
  • creates a sense of direction and provides a way to assess an employee’s work performance
  • fits in with goal setting motivation theory
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9
Q

Employee engagement

A
  • Comes from being connected to the business
  • commitment employees feel towards a business based on identifying the values, visions, objectives and the way the business operates
  • employees feel connected, know that their opinion is important and they feel trusted and respected
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10
Q

Part of a manager’s job is too

A

Establish and promote a climate that motivates their team to do the best job they can

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11
Q

Motivation Theories (3)

A
  • Maslow’s hierarchy of Needs
  • Locke and Latham - goal setting theory
  • Four drives theory - Lawrence and Nohria
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12
Q

What is motivation?

A
  • It’s what drives a person to do things a certain way or to achieve a certain goal
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13
Q

Maslow’s Hierarchy of Needs

info

A
  • Abraham Maslow (1908-1970)
  • hierarchy of needs is a sequence of human needs in order of importance and you can’t move up between needs unless the basic need has been satisfied
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14
Q

Maslow’s theory is important in a business because…

A

businesses have to create workplaces that attempt to satisfy all the needs of the employees

if they don’t the employee will become unmotivated and chose to leave

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15
Q

MHN

physiological needs

A

food, water, warmth, rest

  • providing a job
  • fair wages
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16
Q

MHN

safety needs

A

security, safety

  • job security
  • business is following OH&S policies
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17
Q

MHN

belonging and love needs

A

intimate relationships, friends

  • being part of a team
  • friendly work associates
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18
Q

MHN

esteem needs

A

feeling of accomplishment

  • job title
  • promotions
  • job recognition
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19
Q

MHN

self-actualisation

A

achieving one’s full potential

  • challenging work allowing for creativity
  • opportunity for personal growth
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20
Q

Locke and Latham’s - Goal setting theory

info

A

Is based on the idea that employees are more likely to be motivated if they are able to strive for specific goals and can be rewarded for achieving these goals

Feedback of employees is vital to this model

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21
Q

L&L

In order to motivate the goal must be

A
  • specific
  • clear
  • provide a challenge to the employee
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22
Q

Locke and Latham’s 5 goal setting principles

A
  1. task complexity
  2. clarity
  3. challenge
  4. commitment
  5. feedback
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23
Q

L&L

Task complexity

A

understanding the task at hand and how difficult or easy is the task is for employees to achieve

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24
Q

L&L

Clarity

A

how clear is the goal, do the employees know what to do to achieve the task

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25
Q

L&L

Challenge

A

what level of challenge is there and is it achievable

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26
Q

L&L

Commitment

A

how committed are the employees in achieving the goal

27
Q

L&L

Feedback

A

Continuous, are we moving towards achieving the goal (reviews/performance)

28
Q

L&L

Benefits of goal setting theory

A
  • ensure that all employees have closely aligned goals and have a high level of financial success
  • Employees become energised and empowered
  • Improvement in team collaboration
29
Q

Lawrence and Nohria - Four drives Theory

info

A
  • based on an understanding of human physiological and the strength of this differs between individuals over time
  • If one dominates it can affect personal and business outcomes
30
Q

4DT

Identify 4 basic motivational needs

A

Drive to acquire
Drive to bond
Drive to comprehend/learn
Drive to defend

31
Q

4DT

drive to acquire

A

Basic need - clothing, shelter, water, food
Complex need - Status, promotion power

  • The drive to “have things”
  • Reward system (financial or personal)
  • promotions
32
Q

4DT

Drive to bond

A
  • encourages the development of friendships and bonding
  • focus on developing a team environment
  • focus on real corporate culture
33
Q

4DT

drive to comprehend/learn

A
  • People need to understand whats going on around them
  • create jobs and learning opportunity for employees
  • degree of job satisfaction
34
Q

4DT

drive to defend

A
  • Motivate by defending Friends, team/colleague and job
  • providing a clear direction
  • Link to fear and change
  • Creates fair strategies so employees know where they stand
35
Q

Comparing motivational theories

Hierarchy of Needs (Maslow) and Goal Setting Theory (Locke and Latham)

A

Similarities

  • Both have 5 key components
  • Both set challenging goals
  • Both based on intrinsic motivators (MH’s higher order needs + GST challenging goals and commitment)

Differences

  • GST is about achieving specific goals, MH is about satisfying needs of individuals
  • GST has a time frame where as MH is on going
  • MH focus is more on a group level where as GST set goals at an individual level
36
Q

Comparing motivational theories

Hierarchy of Needs (Maslow) and Four Drives Theory (Lawrence and Nohira)

A

similarities

  • Both relate to satisfaction
  • MH’s belonging relates to 4D’s drive to bond
  • Both theories can have a dominant motivator at any particular moment

differences

  • MH has 5 levels where as 4D has 4
  • MH must progress each level individually, 4D its possible to work towards more than one drive at a time
  • MH is sequential, 4D is not
37
Q

Comparing motivational theories

Goal Setting Theory (Locke and Latham) and Four Drives Theory (Lawrence and Nohira)

A

similarities

  • Goal setting is linked to the drive to acquire
  • The drive to learn and comprehend is similar to obtaining feedback

Differences
- GST is to set goals where as 4D is to satisfy the drives

38
Q

motivational strategies

what are they

A
  • require different motivation strategies for different times for different people
  • Business can use both financial and non financial strategies to motivate employees
39
Q

Financial performance related pay

A

Is a financial reward to employees whose work has achieved the standard or above the standard
- managers use finical tools to motivate employees

40
Q

Common features of performance related pay

A
  1. A performance appraisal may be undertaken where an employee’s performance is reviewed against agreed objectives (annual review)
  2. At the end of the appraisal period employees may be divided into three grounds
    - Met expectations
    - Exceeded expectations
    - Did not meet objective
  3. Those that achieve or meet expectations may be given a final reward
41
Q

finical motivators

pay increase

A
  • employee starts a job their rate of pay is either negotiable in an employment contract or set by an award
  • After a period of time an employer may offer pay rise to people who work hard or add value to the business
42
Q

finical motivators

Bonuses

A

One off payment to an employee or group of employees for achieving a particular target or special effort

43
Q

finical motivators

Commission

A

In an amount paid for accomplishing a sale. It’s generally a fixed percentage of the price.

44
Q

finical motivators

Share Plans

A
  • A registered company (both public and private) can offer shares of its business to its staff
45
Q

finical motivators

Profit sharing

A
  • Instead of giving employees shares, a company can offer a percentage of profits to its employees,
  • this will increase the overall goal of increasing profit so everyone can share it
46
Q

finical motivators

Gainsharing

A
  • method of rewarding employees for making suggestions that improve productivity in the business.
47
Q

Advantages and disadvantages of financial motivational strategies (performance related pay)

A

Advantages

  • Provides a direct financial reward to an employee
  • Encourages goal setting to not be too hard and improve productivity levels
  • Tangible way of recognising achievement

Disadvantages

  • Reduces equality in employees by generating a ‘performer’ culture
  • Acts to demotivate if goals sets are too challenging
  • Difficult to measure productivity level in some types of jobs (teachers)
48
Q

Non-financial motivators

Career advancement

A
  • Promoting people to more senior positions that gives them more motivation/responsibility and authority
  • this level of promotion can motivate some employees
49
Q

Career advancement

The ways this can motivate people is by:

A
  • desire to increase remuneration (pay increase)
  • More challenging job experience
  • Esteem and status
  • Development of a wider range of skills via job enlargement, job enrichment, job rotation
50
Q

non-finical Motivators

Advantages/disadvantages

A

Advantages

  • Acts as a reward for past performance
  • Helps retain good employee and intellectual property and knowledge

Disadvantages

  • Employees may be promoted over their capable level
  • Feeling of unrest if promotion was not warranted or not carried out in a fair manner
51
Q

Non-financial motivators

Job enlargement

A

involves making a job bigger or more challenging by combining various operations at a similar level (horizontal)

52
Q

Non-financial motivators

Job enrichment

A

involves vertically expanding the job by increasing its depth of content as well as the degree of control the job holder has over their work

53
Q

Non-financial motivators

Job rotation

A

Workers move between jobs to increase the variety of work and also to create a more flexible workforce

54
Q

Non-finical motivators are…

A

Promoting employees to positions that include more responsibility or authority, is a motivational tool that can be used by managers

55
Q

Investment in training

A
  • Employees gaining skills and job knowledge through training and job experience. important to train employees in the skills they need to perform their job tasks properly.
  • provides ideal opportunities for employees to feel that they are contributing to the businesses outcome.
  • Creating an environment that encourages sharing knowledge and learning,
  • training positively assists in team building and the overall health of the business
56
Q

Investment in training Advantages/disadvantages

A

Advantages

  • Shows you value your employees
  • Demonstrates that you want to advance your employees career
  • Creates a sense of loyalty and positive corporate culture

disadvantages

  • Expensive investment
  • Highlight where you have problems
57
Q

Support and sanction (reward and punishment)

Support

A
  • the feeling that employees are supported, encouraged, and acknowledged for their work performance and have job security
  • positive atmosphere and corporate culture
  • Frequent and positive communication between managers and subordinates .
58
Q

Support and sanction (reward and punishment)

Sanction

A
  • can be specified as a condition in contracts of employment
  • Not all employees are motivated by the challenge of their job
  • Often won’t take their job role seriously until they are threatened with some form of sanction for their unacceptable or poor performance
  • Sanctions can take the form of a Represent, counselling, dismissal (no job
59
Q

Support and sanction (reward and punishment)

advantages/disadvantages

A

Advantages

  • Employees who feel supported by their manager and the business are likely to work more diligently
  • Sanctions can act as a motivator
  • Support does not cost the business money

Disadvantages

  • Support needs a positive corporate culture
  • Support relies on manger exercising good communication skills
60
Q

Linking theories to motivational theories

Performance related pay

A

Four Drives Theory

Why : Performance related pay is a financial reward to employees which relates to L&N drive to acquire, is reward system to employees to have either basic or complex needs

61
Q

Linking theories to motivational theories

Investment in training

A

Maslow’s Hierarchy of needs

Why:

  • Investment in training provides ideal opportunities for employees to feel that they are contributing to business outcomes.
  • This is associated with the fourth and fifth need, self esteem and self actualisation - being recognised and personal growth
62
Q

Linking theories to motivational theories

Support and sanction

A

Goal Setting Theory

Why: Goal setting theory is based on employees motivation at work if they have specific goals to strive for which relates to support and sanction because employees will be more motivated to work diligently and identify the mission of the business and also if employees don’t achieve the goal they will be punished

63
Q

Linking theories to motivational theories

Career advancement

A

Goal Setting Theory

Why: Promoting employees to positions that include more responsibility or authority is a motivational tool, this relates to the goal setting theory because employees are more likely to be motivated if they are able to strive for specific goals hence advancement in their careers.

business revision 2018 (10 decks)

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