Lecture 3 Flashcards
What motivates people? (3)
Autonomy
Mastery
Purpose
What is motivation?
Motivation is a major determinant of our behaviour
Main motivation issues (2)
Motives can be innate (a driver)
or
Motives can be acquired (learned)
Employee Engagement definition
Is the emotional state of employees
Employee engagement characteristics (3)
Absorption
Dedication
Vigor
Absorption definition
The level of concentration and how much one is engrossed in work
Dedication definition
The level of enthusiasm, inspiration and challenge experienced when performing job related tasks
Vigor definition
Reflects the level of energy and persistence of employees while working
Human Resource Management (HRM) definition
A strategic approach to managing employment relations which emphasis on leveraging peoples capabilities as a critical means to achieving sustainable competitive advantage (SCA)
How is HRM achieved?
By setting distinctive integrated employment policies, programs and practices.
How does HRM contribute to sustained competitive advantage (SCA)? (5)
Employes are source for success Changing from control to commitment Line managers are primarily responsible Alignment with business strategy Involvement of top-management
The three types of resources
Physical
Human
Organisational
According to the resource based view (RBV) a firms human resources act as a sustainable form of competitive advantage when they are…
VRIN Valuable Rare Inimitable (=unique/impossible to copy) Non-substitutable
Competitive advantage definition
When a firm is implementing a value creating strategy not simultaneously being implemented by any current or potential competitors
How are human resources valuable? (V in VRIN)
Skills, experiences and knowledge have economic value to organisations because they enable them to be productive and adaptable
How are human resources justified
Investments in human capital are justifiable if they allow a firm to productively utilise its accumulated human capital
Human resource examples (3)
Making human capital (training)
Buying human capital (compensating)
Eliciting productive behaviour (incentives