Chapter 12 Flashcards
what will a staff appraisal scheme achieve
set motivating challenges
identify training needs
provide a forum for exchanging feedback
identify future aspirations
what is fitzgerald and moons framework also knows as
results and determinants framework
2 results areas
financial performance eg profitability
competitive performance eg sales growth
4 determinants areas
quality
resource utilisation
flexibility
innovation
what is filtzgerald and moons building block model
3 building blocks - dimension on top
standards and rewards on the bottom
6 dimensions
financial performance competitive performance quality resource utilisation flexibility innovation
3 standards
ownership
achievability
equity
3 rewards
clarity
motivation
controllability
what are extrinsic rewards
derive from job context and include pay and other material benefits
what are intrinsic rewards
deriver from job content and support self esteem and personal development
6 things reward schemes should be
support strategy of business be affordable and easy to administer support recruitment and retention increase motivation support ethical behaviour be fair and legal
3 reward methods
base pay
performance related pay
indirect pay - pension health insurance etc
main problem of performance measurement
‘what gets measured gets done’ - people wont do anything thats not being measured
examples of problems with performance measurement
tunnel vision
focus on short term at the expense of long term (myopia)
misrepresentation ( creative reporting)
ossification - unwillingness to change
three distinct management styles (Hopwood)
budget constraint - meets budgets regardless or anything else
profit conscious
non accounting - NFPI’s most important
