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Business > AOS 2A > Flashcards

AOS 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
They play a key role in success
They are essential in the production process, manufacturing a product or providing a service

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3
Q

Human resource management

A

The 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
They are also responsible for making sure the business gets the best out of its employers and employees have the right skills to carry out their roles

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4
Q

4 key roles of HR manager

A 
Recruitment and selection
Occupational health and safety guidelines (OH&S)
Performance management (managing people/ are they doing their jobs)
Evaluation policies (staff reviews/performance appraisals)
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5
Q

What a HRM can’t do

A

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

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6
Q

Employee engagement

A

The commitment employees feel towards a business based on identifying the values, visions, objectives and the way the business operates
When an employee knows these they can feel connected, know that their opinion is important and they feel trusted and respected

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7
Q

3 Theories

A

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

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8
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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9
Q

Maslow’s Hierarchy of Needs

A

The 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
Maslow’s theory is important in a business because it suggests businesses have to create workplaces that attempt to satisfy all the needs of the employee - if they don’t the employe will become disillusioned and chose to leave or be unmotivated

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10
Q

Maslows - Physiological needs

A

food, water, rest, shelter

providing a job, fair wages

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11
Q

Maslows - Saftey needs

A

security, safety

job security, business is following oh&s policies

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12
Q

Maslows - Belongingness

A

intimate relationships, friends

being part of a team, friendly work associates

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13
Q

Maslows - Esteem needs

A

prestige and feeling of accomplishment

job title, job promotion and job recognition

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14
Q

Maslows - Self actualisation

A

achieving ones potential including creative activities

challenging work allowing for creativity, opportunity for personal growth

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15
Q

Locke and Latham’s - Goal setting theory

A

Is based on the notion 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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16
Q

Locke and Latham’s 5 goal setting principles

A 
Task complexity 
Clarity 
Challenge 
Commitment 
Feedback
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17
Q

Locke and Lathams - Task complexity

A

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

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18
Q

Locke and Lathams - Clarity

A

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

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19
Q

Locke and Lathams - Challenge

A

what level of challenge is there, which is the challenge in the goal and is it achievable

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20
Q

Locke and Lathams - Commitment

A

how committed are the employees in achieving the goal

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21
Q

Locke and Lathams - Feedback

A

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

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22
Q

Benefits of goal setting theory

A

Companies ensure that all employees have closely aligned goals, have a high level of financial success
Employees become energised and empowered
Improvement in team cohesion and collaboration

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23
Q

Lawrence and Nohria - Four drives Theory

A

This theory is based on an understanding of human psychology and the strength of this differs between individuals over time
If one dominates it can affect personal and business outcomes

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24
Q

The four drives

A

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

25
Q

Lawrence and Nohira - Drive to aquire

A

The drive to “have things”
Status, promotion power
clothing, shelter, water, food

26
Q

Lawrence and Nohira - Drive to bond

A

Connection with peers
Build relationships
To be apart of something
developing a team environment

27
Q

Lawrence and Nohira - Drive to learn/comprehend

A

Peoples need to understand whats going on around them

Create jobs and learning opportunity for employees

28
Q

Lawrence and Nohira - Drive to defend

A

Motivate by defending instinct to protect Creates transparent, fair strategies so employees know where they stand

29
Q

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

A
  • Both have 5 key components
  • GST could lead to MH’s level of self esteem being achieved
  • Both set challenging goals - particularly in reference to higher order needs (esteem and self actualisation)
30
Q

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

A
  • GST is about achieving specific goals, but MH is about satisfying needs of individuals
  • GST has a time frame
  • MH is on going
31
Q

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

A
  • Both relate to satisfaction
  • Both originally written to describe human behavior - adapted to organisations
  • MH’s belonging relates to 4D’s drive to bond
32
Q

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

A
  • MH must progress each level individually, however in 4D it is possible to work towards more than one drive at a time
  • MH is sequential, 4D is not
33
Q

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

A
  • Goal setting is linked to the drive to acquire

- The drive to learn and comprehend is similar to obtaining feedback

34
Q

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

A
  • GST is to set goals

- 4D is to satisfy the drives

35
Q

Motivational strategies

A

We require different motivation strategies for different times for different people
Not a one size fits all
Business can use both financial and non financial strategies to motivate employees

36
Q

Motivational strategies (4)

A

Performance related pay (financial)
Career advancement
Investment in training
Suport/Sanctions

37
Q

Performance related pay

A

Is a financial reward to employees whose work is considered to have reached a required standard or is even above standard.

38
Q

Performance related pay - increase

A

When an 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

39
Q

Performance related pay - Bonuses

A

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

40
Q

Performance related pay - Commission

A

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

41
Q

Performance related pay - Share plans

A

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

42
Q

Performance related pay - Profit sharing

A

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

43
Q

Performance related pay - Gainsharing

A

Is the method of rewarding employees for making suggestions that improve productivity in the business. The savings that are achieved are given back to the employees

44
Q

Advantages of financial motivational strategies

A

Provides a direct financial reward to an employee
Tangible way of recognising achievement
Encourages goal setting to not be too hard
Can improve productivity levels
Rewards best performance

45
Q

Disadvantages of financial motivation strategies

A

Reduces equality in employees
Generates a ‘performer’ culture
Acts to demotivate if goals sets are too challenging
Danger of sacrificing safety and quality in order to increase quantity
Short term focus - quantifiable goals
Motivate people if achievable
May be difficult to measure productivity in some jobs eg teachers

46
Q

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

47
Q

The ways career advancement can motivate people is by:

A

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

48
Q

Career advancement - Job enlargement

A

This involves making a job bigger or more challenging by combining various operations at a similar level (horizontal)
Example
Accountant = “tax” making them incharge of more things such as payroll, money, giving them a new job title

49
Q

Career advancement - Job enrichment

A

This 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.

50
Q

Career advancement - Job retention

A

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

51
Q

Advantages of career advancement

A

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

52
Q

Disadvantages of career advancement

A

If overlooked for a promotion demonstrated
Employees may be promoted over their capable level
Feeling of unrest if promotion was not warranted or not carried out in a fair and equitable manner

53
Q

Investment in training

A

Employees gaining skills and job knowledge through training and job experience. It’s important to train employees in the skills they need to perform their job tasks properly.
Training 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

54
Q

Advantages of investment in training

A

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

55
Q

Disadvantages of investment in training

A

Expensive investment

Highlight where you have problems

56
Q

Support and sanction (reward and punishment)

A

Support
An important motivating factor is the feeling that they are supported, encouraged, and acknowledged for their work performance and have job security

Sanction
Sanctions can be specified as a condition in contracts of employment relating to work performance.
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 Repremant, counselling, dismissal (no job)

57
Q

Advantages of support and sanction

A

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

58
Q

Disadvantages of support and sanction

A

Support needs a positive corporate culture
Support relies on manger exercising good communication skills
Imposing sanctions acts only as a potential short term motivator

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