Business management AOS 2 Flashcards
Define Maslow’s hierarchy of needs, including what it needs to occur and each need.
Maslow’s Hierarchy of Needs is a motivational theory that suggests people have five fundamental needs, and their sequential attainment of each need acts as a source of motivation. The five needs in the hierarchy, from lowest to highest, are physiological, safety and security, social, esteem, and self-actualisation.
Physiological needs: Basic needs like food, water, and shelter.
Safety: Security and protection(emotional and physical)
Love/Belonging: Social connections and relationships.
Esteem: Self-esteem and recognition.
Self-actualization: Fulfillment of personal potential
Maslow’s theory suggests that, once one need is completely satisfied, the next need on the hierarchy acts as a motivator for employees.
Define Four Drive Theory including what each drive is.
Lawrence and Nohria’s Four Drive Theory is a motivational theory
that suggests that people strive to balance four fundamental desires. It can be applied to business settings by a manager to improve employee motivation. + can be balanced
simultaneously to lead to employee motivation.
Drive to Acquire: Relates to remuneration and satisfaction with high status positions
Drive to Bond: The need to form relationships with individuals or groups within the business.
Drive to Learn: The desire to learn new skills by challenging ourselves with interesting experiences.
Drive to Defend: Desire to remove any threats to our safety and protect our belongings.
Define the Goal Setting Theory including the 5 steps.
Locke and Latham’s Goal Setting Theory is a motivation theory that
states that employees are motivated by clearly defined goals that fulfil
five key principles.
- Clarity: Making goals absolute and measurable, as well as simple and clear on what needs to be done.
- Challenge: It is more motivating to achieve something that hasn’t been successfully completed before.
- Commitment: important in ensuring that employees will actively pursue the achievement of a goal. An employee is more likely to be motivated with a task where they have had some sort of input.
- Feedback: This provides opportunities for recognition of effort put into a goal, as well as any changes to the goal if necessary.
- Task Complexity: Goals should be challenging enough to motivate employees, but the level of complexity isn’t overwhelming.
How does the HRM use Maslow’s Theory, and how it is used to improve the motivation of employees in an organisation
HRM would use aspects of Maslow’s theory when trying to motivate workers. They would need to be aware that the employees will be at different stages of development. Some workers may be at the stage while others may have reached the esteem stage.
How does the HRM use Locke and Latham’s Goal setting theory, and how it is used to improve the motivation of employees in an organisation
Mangers may be able to better motivate workers by ensuring that the goals set for workers are specific and challenging.
Requires knowledge of each employee’s skills and personal characteristics so that appropriate and achievable goals can be set
How does the HRM use Lawrence and Nohria’s four drive theory, and how it is used to improve the motivation of employees in an organisation
HRM can identify primary drivers of employees allowing for providing resources quickly to the workers. This can allow them to become satisfied and motivated.
Eg. If employees are given responsibilities to conduct a research project in a team, it may go to towards satisfying the drive to bond as the drive to
Compare Maslow’s Theory with Lawrence & Nohria’s Theory
Similarities
-Both theories focus on the human needs of motivation employees. (to motivate workers)
-suggest that employees are motivated from the desire for a sense of belonging, to bond.
Differences
-Maslow believes that we should fulfil one need at the time, though Lawrence and Nohria’s can have multiple drives at the same time
-Maslow’s theory is structured as a hierarchy of 5, whereas Lawrence and Nohria’s theory is divided into 4 different drives
Compare Maslow’s Theory with Locke and Latham’s Goal setting Theory
Similarities
-Both are motivational theories that motivate employees to achieve business objectives.
-both theories help the manager better understand it’s employees and their strengths and weaknesses.
Differences
-Focuses on one need at a time in order, whereas the goal setting theory requires all the goals to be present so that they can motivate workers.
-Maslov can apply by observing the worker, whereas in the goal setting, the employee has to be present in order to set the goal.
Compare the Four Drive Theory with Locke and Latham’s Goal Setting Theory
Similarities
-Both theories are motivated to achieve success and motivate workers.
-both suggest that multiple factors can motivate workers at any given time.
Differences
-The goal setting theory involves employee input whereas Four drive theory doesn’t require employee input.
-The goal setting theory requires the manager to focus on individual workers depending on experience, which is not necessary for the 4 drive theory.
Define the Human Resource Manager and its relation to business objectives
-Human resource management is the organisation of employees’ roles, pay, and working conditions.
-Effective human resource management can increase employee satisfaction within a business, as they feel valued for completing their work, and are therefore more likely to positively contribute to the achievement of business objective.
Define Motivation Strategies
-Motivation is the drive a person has to work during and towards the achievement of something.
-Motivation strategies can be implemented by businesses to help increase the drive and motivation of employees
Define Performance related pay and provide advantages and disadvantages
- Performance related pay is where an employee’s salary or bonus is linked to their performance.
- Employees are motivated to work towards the set targets as they strive to increase their level pay.
Advantages
-Best performers are rewarded
-Can help attract high quality employees
Disadvantages
-May develop a competitive culture undermining teamwork
-Can be expensive for the business
Define career advancement and provide advantages and disadvantages
- Career advancements is where an employee has the opportunity to take on a greater responsibility in the business through the use of promotion
-Investing in career advancement opportunities can help retain qualified employees.
Advantages
-Opportunity to increase employees’ contribution to the business.
-Helps attract and retain quality employees
Disadvantages
-Difficulty providing career advancement for all employees.
-If there are limited opportunities, workers may leave.
Define Investment in training and provide advantages and disadvantages
-The process of improving the skills of the employees so that they can perform the job at a higher level.
-Helps provide the employees with the tools and skills they need to succeed in their roles
Advantages
-Quality of work increases as the skills of the employees improves.
-Helps retain quality employees.
Disadvantages
-Expensive and time consuming to provide regular training.
-Workers may leave after training, which is a waste of money.
Define Support Strategies and provide advantages and disadvantages
Support is where the employees are provided with the resources they need to perform their role.
Advantages
-Creates a positive work environment
-Can improve wellbeing, jobs satisfaction and loyalty
Disadvantages
-Can be very costly for the business
-Employees may not take advantage of the support
Define Sanction Strategies and provide advantages and disadvantages
-Sanctions is where the employees receive or consequences for poor performance or behaviour.
-Sanctions can motivate employees to follow the business policies through fear of being sanctioned.
Advantages
-Creates a sense of accountability and expectations
-Can deter negative behaviours
Disadvantages
-May create a culture based around fear and mistrust.
-Can create a negative poor environment if used over the long term.
Performance related pay and how it effects long term and short term
Performance related pay is a short term motivator, as some employees might be comfortable with their wage. Often more of a short term motivator, bonuses and commissions encourage effort in the near term.
Career advancement and how it effects long term and short term
Career advancements is more of a long term motivator as employees can drive to climb the corporate ladder, over the long term, increased loyalty between the business and employees, increasing commitment of workers.
Investment in training and how it effects long term and short term
Investment in training is both a long term and short term motivator as employees it improves their self esteem and they feel trusted. Employees are also driven to develop themselves.
Support and how it effects long term and short term
Support is both short term and long term motivator, employees are motivated to work in the present at their best, also increasing present wellbeing. In the long term, employees feel valued and supported increasing loyalty.
Sanctions and how it effects long term and short term
Sanctions is a short term motivator, it can create fear and make employees follow procedures, other workers may work to not be sanctioned as well. Sanctions is not a long term motivator, as sanctions can create a negative environment if used over the long term, employees may feel resentful or disengaged.
Describe Management by Objectives
The process of management and employees agreeing on a set of individual goals for employees which contribute to business objectives as a whole. Another aspect of this strategy is
