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YR12 BUSINESS > SAC 2 business chapter 2 > Flashcards

SAC 2 business chapter 2 Flashcards

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1
Q

Human resource management

A

The organisation of employees roles, pay, and working conditions

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2
Q

HR management responsibilities

A
  1. Recruitment and selection
  2. Induction of policies and procedures
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3
Q

relationship between managing employees and business objectives

A

1) Termination management —–> to make a profit
2) Performance management —-> to improve effectiveness

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4
Q

Hierarchy of needs

A

Maslow’s sequence of human needs in the order of importance

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5
Q

hierarchy levels (bottom to top)

A
  1. physiological
  2. safety
  3. social
  4. esteem
  5. self-actualisation
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6
Q
  1. physiological
A

the need for air, food, water health

WORKPLACE PRACTICES TO SATISFY THESE NEEDS: -satisfactory pay for survival

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7
Q
  1. safety
A

the need for safety, shelter, stability

WORKPLACE PRACTICES TO SATISFY THESE NEEDS:
-safe working conditions
-job security

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8
Q
  1. social
A

the need for love, belonging, inclusion

WORKPLACE PRACTICES TO SATISFY THESE NEEDS:
-teamwork
-involvement in decision-making
-supportive management

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9
Q
  1. esteem
A

the need for self-esteem, power, control, recognition

WORKPLACE PRACTICES TO SATISFY THESE NEEDS:
-responsibility
-promotion
-recognition

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10
Q
  1. self-actualisation
A

the need for development, creativity, growth

WORKPLACE PRACTICES TO SATISFY THESE NEEDS:
-creative, interesting jobs
-opportunities for advancement

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11
Q

strength of Maslow’s Hierarchy of needs

A

allows management to develop an understanding of individual needs

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12
Q

weakness of Maslow’s Hierarchy of needs

A

Maslow’s Hierarchy of Needs is only a theory- it is not supported by empirical evidence and the stages in the hierarchy do not apply to individuals

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13
Q

Goal setting theory (Locke and Latham)

A

The Goal Setting Theory (1990) is a motivational theory stating that setting goals improves performance, and that these goals should be:
1. clear and specific.
2. challenging, but achievable.

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14
Q

Locke and Latham’s theory applied

A
  1. Goal
  2. Motivation
  3. Performance
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15
Q
  1. Goal
A
  • clear
    -specific
    -challenging
    -not overwhelming
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16
Q
  1. motivation
A

increased feedback on:
-goal achievement
-recognition for effort

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17
Q
  1. performance
A

improved as a result

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18
Q

The 5 goal setting principles

A
  1. clarity
  2. challenge
  3. commitment
  4. feedback
  5. task complexity
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19
Q

clarity

A

giving goals clarity means making them unambiguous and measurable.

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20
Q

challenge

A

this goal should extend the employee, but still be achievable

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21
Q

commitment

A

a goal into which the employee has had some input is more likely to serve as a motivation

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22
Q

feedback

A

feedback provides opportunities to offer recognition for progress achieved

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23
Q

task complexity

A

the tasks set to achieve the goal should be straightforward enough that the employees feel that they are able to complete them

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24
Q

four drive theory (Lawrence and Nohria)

A

the four main drives that shape the way in which all human beings think and behave.

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25
The four drives
1. drive to acquire 2. drive to bond 3. drive to learn 4. drive to defend
26
1. drive to acquire
includes the desire to own material goods, and encompasses the desire for status, power and influence
27
2. drive to bond
includes the strong need to form relationships with other individuals and groups
28
3. drive to learn
includes our desire to satisfy our curiosity, to learn new skills and to explore the world around us
29
4. drive to defend
the desire to remove threats to our safety and security and to protect what we regard as 'ours'
30
motivation strategies: performance-related pay
the momentary compensation provided to employees relative to how their performance is assessed according to set standards
31
how performance related pay may be provided
Pay increase: Any employee who works hard, or makes a significant contribution to the achievement of business objectives may be offered a pay rise
32
effects on performance related pay short & long term
short term: long term:
33
performance related pay advantages & disadvantages
advantage: provides financial reward to employees directly related to improved performance disadvantage: A business may not be able to afford performance-related pay
34
motivation strategies: career advancement
the assignment of more responsibilities/authority to employees or the promotion of employees to positions that bring rewards, such as increases salary, fringe benefits and increased responsibilities
35
effects on career advancements short & long term
short term: usually brings a pay rise and greater job security which satisfy the low order needs on Maslow's hierarchy long term: encouraging the employee to remain with the organization, and not seek opportunity elsewhere
36
career advancements advantages & disadvantages
advantage: can provide a means of retaining valuable employees disadvantage: promotion positions cannot just be created- they have to have some purpose
37
motivation strategies: investment in training
the directions of finances, or resources such as time, into the teaching of skills to employees
38
investment in training strategies short & long term
short: long:
39
investment in training advantages & disadvantages
advantage: Indicates to employees that the business values their contribution, and that the business will support them in advancing their careers disadvantage: unless there are sufficient jobs within the business requiring higher level skills, training may be wasted
40
motivation strategies: support
the assistance or services (such as counselling and mentoring) provided by the business to help employees cope with difficulties that may impede their work performance
41
support short & long term
short: providing support and encouragement for employees can motivate them to do better long: encourages a sense of loyalty, and willingness to remain in that work environment
42
support advantages & disadvantages
advantages: many forms of support, such as encouragement, can be provided with little to no cost disadvantage: it may be difficult to find reasons to support and encourage some employees
43
motivation strategies: sanction
a form of penalty or discipline imposed on an employee for poor performance
44
sanction short & long term
short: long: does not encourage the employee to make a long-term commitment to the business
45
sanction advantages & disadvantages
advantage: sanction for poor behavior in the workplace can motivate some workers to improve their work performance disadvantage: excessive emphasis on sanctions can reduce employee sense of belonging, and therefore have a negative impact on motivation
46
training options: on-the-job training
occurs when employees learn a specific set of skills to perform particular tasks within the workplace. this training usually occurs in the working environment and uses the equipment, machinery and documents that are present in that workplace
47
on-the-job training advantages & disadvantages
advantages: It is the most cost-effective alternative, as no travel expenses or other costs are incurred disadvantage: bad habits of older staff may be passes onto younger employees
48
training options: off-the-job training
occurs when employees learn skills in a location away from the workplace. It usually involves sending individuals or groups of employees to a particular specialised training institution (such as a university or TAFE college)
49
off-the-job training advantages and disadvantages
advantages: availability of a wider range of skills and qualifications than those in the workplace disadvantages: more expensive, with fees charged, travel costs, etc.
50
performance management strategies: managing by objectives
a process by which management and employees agree on a set of goals for each employee, with thee goals all contributing to the objectives of the business as a whole
51
managing by objectives
1. business objectives are clearly defined 2. individual employee goals are negotiated 3. regular monitoring of progress 4. performance feedback 5. performance appraisal on achievement of goals
52
managing by objectives advantages & disadvantages
advantages: can highlight the area/s where an employee has training needs, which can lead to a career development disadvantage: management by objectives is not always useful for all types of employees
53
performance management strategies: appraisal
the formal assessment of how efficiently and effectively an employee is performing their role in the business
54
methods of appraisal: Essay method
a manager keeps a journal on each employee being appraised. notes may be restricted to specific aspects of job performance, such as customer service, sales, personal presentation and cash register use
55
appraisal advantages & disadvantages
advantages: Feedback can help employees improve their performance. Employees can be provided with clear areas for improvement disadvantage: can be time consuming. particularly if the cycle becomes shorter (monthly or weekly)
56
performance management strategies: employee self evaluation
a process whereby employees carry out self assessment, based on a set of agreed criteria
57
employee self evaluation advantages & disadvantages
advantages: allows employees to assess their own contribution to the business, their strengths and weaknesses, and how they can improve their performance disadvantages: employees can often overstate their own performance when completing a self-evaluation, or may complete parts of the process dishonestly
58
performance management strategies: employee observation
a strategy where a variety of opinions on the performance of employees us sought with the aim of arriving at a more comprehensive picture of the past and current performance
59
employee observation advantages & disadvantages
advantages: very useful in identifying strengths and weaknesses, and evaluating skills such as leadership, teamwork and interpersonal abilities disadvantage: staff may feel stressed when they know that they are being observed
60
termination management: retirement
occurs when an employee decides to five up full-time or part-time work and no longer be part of the labor force
61
termination management: resignation
the voluntary ending of employment by the employee 'quitting' their job
62
termination management: redundancy
occurs when a persons job is no longer exists, usually due to technological changes, a business restructure, or a merger or acquisition
63
termination management: dismissal
occurs when the behavior of an employee us unacceptable and a business terminates their employment
64
termination management: entitlement considerations
the rights to benefits that employees have when leaving the workplace, either on a voluntary or involuntary basis
65
examples of entitlement considerations
- any wages or salary owing - leave entitlement (accrued annual leave, long service leave)
66
termination management: transition considerations
issues relating to the processes of changing from one job to another or from one set of circumstances to another
67
workplace relations
The interactions that occur between employers and employees, or their representatives, within a business’ internal environment.
68
role of human resource managers
- negotiating employment agreements with employees and their representatives -dealing with disputes and conflict that may arise during the life of an argument
69
role of employees
- Perform duties with proper care and diligence - Follow safety procedures
70
role of fair work commission
- Dealing with unfair dismissal claims - Making, reviewing and varying modern awards
71
role of unions
- Unions provide representation and advice to employees - They can assist with contract bargaining
72
employer associations (role?)
Advisory bodies that assist employers in understanding and upholding their legal business obligations.
73
award
a legally binding document determined by the Fair Work Commission that sets out minimum wages and conditions for whole industries or occupations
74
award advantages & disadvantages
advantages: - less costly for the business -employees have limited input disadvantage: - provides less flexibility- cannot be customised to the needs of a workplace
75
enterprise agreement
an agreement on pay and conditions of work made at the workplace level and negotiated between groups of employees (or represented by their union) and employers
76
enterprise agreement advantages & disadvantages
advantages: - very flexible- can be tailored to specific workplace needs -greater effort and contribution to productivity disadvantages: -conditions that are better than the relevant Award may be very expensive for a business
77
matters covered by awards and collective agreements (10 national employment standards)
1. maximum weekly hours of regular work 2. the right to request flexible work arrangements
78
matters covered by awards and collective agreements (10 matters that can be included in modern awards)
1. minimum wages, including disability and training wages 2. annual wages and strategies
79
dispute
A dispute is a conflict that can occur in any business between workplace participants as a result of a disagreement.
80
mediation
Where an impartial third party facilitates discussions with disputing parties to help each side of the conflict reach a resolution between themselves.
81
mediation advantages & disadvantages
advantages: The outcome should be a win/win for both parties, as no party needs to concede disadvantages: There are no guarantees that the dispute will finally be resolved.
82
Arbitration
Where an independent third party hears arguments from both disputing parties and makes a legally binding decision to resolve the conflict.
83
arbitration advantages & disadvantages
advantage: There is a guarantee that the dispute will be resolved disadvantage: It is more formal, time-consuming, and expensive than mediation

YR12 BUSINESS (3 decks)

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