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Business 310 > Midterm 1 > Flashcards

Midterm 1 Flashcards

1
Q

True or False

Research shows that pay level is as important as Crosby’s 6 conditions in predicting pay satisfaction.

A

False

Crosby’s 6 conditions were at least 3X as important as pay level

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2
Q

True or False

Research shows that pay does not significantly impact job satisfaction.

A

False

Higher pay = greater satisfaction

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3
Q

The relative deprivation Crosby Theory states that employees experience dissatisfaction with pay when some of what 6 things happen.

A

There is a discrepancy between the outcome they want and what they actually receive
They see that a comparison “other” receives more than they do
Past experience has led them to expect more than they now receive
Future expectancies for achieving better outcomes are low
They feel that they are entitled to more
They absolve themselves of personal responsibility for the lack of better outcomes

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4
Q

How does perceived inequity impact reward dissatisfaction?

A

Based on equity theory
Employees’ base perceptions of equity on a comparison of their contributions/rewards ratio to the ratios of others perceived as being similar

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5
Q

How does violation of the psychological contract impact reward dissatisfaction?

A

Psychological contract is the expectation about the rewards offered by a given job and the contributions necessary to perform the job

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6
Q

List 4 causes of reward dissatisfaction.

A

Violation of psychological contract
Perceived inequity
Relative deprivation
Lack of organizational justice

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7
Q

List 6 steps for designing effective reward systems and behavioural implications.

A

Define the employee behaviour that is really needed
Determine the employee attributes and qualifications necessary to perform the needed behaviour
Identify the needs that individual possessing these qualifications are likely to find salient
Ensure a positive valence for needed behaviour by providing rewards that address salient needs and by reducing the costs to the employee of performing the behaviour
Make it clear that performance of the behaviour will lead to the promised rewards
Provide conditions that make it likely that employee effort will actually lead to the desired behaviour

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8
Q

What 3 factors impact the creation of citizenship behaviour?

A

Concern
Trust
Security

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9
Q

List 2 causes of citizenship behaviour.

A

Shared organizational goals

Feelings of membership

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10
Q

What are the 5 main dimensions of organizational citizenship behaviour?

A 
Altruism
General compliance
Courtesy
Sportsmanship
Civic virtue
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11
Q

Describe the interaction of factors that influence membership behaviours.

A

JOB SATISFACTION + ORGANIZATIONAL IDENTIFICATION = JOB ATTITUDES

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12
Q

What is continuance commitment?

A

Attachment to an organization based on perceived lack of better alternatives

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13
Q

What is affective commitment?

A

Attachment to an organization based on positive feelings towards the organization

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14
Q

What are 3 key attitudes?

A

Job satisfaction: attitude one holds toward one’s job and workplace, either positive or negative
Work motivation: attitude one holds toward good job performance, either positive or negative. Strength of an employee’s desire to perform his or her job duties well
Organizational identification: consists of three interrelated elements
Sense of shared goals and values with the organization
Sense of membership or belongingness
Intention to remain a member of the organization

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15
Q

What are 3 key employee behaviours?

A

Membership behaviour: when employees decide to join and remain with a firm
Task behaviour: when employees perform the specific tasks that have been assigned to them
Organizational citizenship behaviour: when employees voluntarily undertake special behaviours beneficial to the organization that go beyond simple membership

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16
Q

What are 3 types of reward problems?

A

Failure to produce desired behaviour
Production of desired behaviour and undesirable consequences
Sold many products, but poor attitude, manipulative, etc
Production of reward dissatisfaction
Buddy gets paid more

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17
Q

What is Porter’s Typology?

A 
Low cost business strategy
H&M
Focused low cost business strategy
Photojack
Differentiator business strategy
Staples
Focused differentiator business strategy
High end Truffles
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18
Q

What is the Miles and Snow typology?

A

Defender: focus on dominating a narrow product or service market segment
Prospector: focus on identifying and exploiting new opportunities quickly
Analyzer: focus on exploiting new opportunities at a relatively early stage while maintaining a base of traditional products or services - seek technical efficiency

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19
Q

What is horizontal fit?

A

Division heads across a firm have their business units working towards common goals
All analysts in a company are evaluated on a similar basis

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20
Q

What is Vertical fit?

A

Alignment of strategies at different levels

21
Q

What is the key purpose of a compensation system?

A

To help create a willingness among qualified persons to join the organization and to perform the tasks the organization needs.

22
Q

Why is an effective compensation system so important to most organizations?

A
  • achieve strategies and objectives
  • attract, retain, motivate employees
  • philosophical and moral implications
  • influence standard of living
  • significant to bottom line
  • address internal and external equity issues
23
Q

What is the difference between a reward system and a compensation system?

A

Reward systems deal with extrinsic and intrinsic rewards.

Compensation system deals only with monetary factors.

24
Q

Why is it important for a compensation system to be viewed in the context of the total reward system?

A

Because behaviour is affected by the total spectrum of rewards provided by the organization, not just by compensation.

25
Q

List 4 of the goals of the reward and compensation system.

A
  1. Be seen as equitable
  2. Comply with law
  3. Attract and retain talent
  4. Promote desired behaviour
26
Q

List the 5 steps to create effective compensation.

A
  1. Understand organization and people
  2. Formulate reward and compensation strategy
  3. Determine compensation values
  4. Design performance pay and indirect pay plans
  5. Implement, manage, evaluation, adapt comp system
27
Q

What are the 3 factors used to determine compensation values?

A
  1. job evaluation
  2. labour market surveys
  3. performance appraisal
28
Q

Why is “fit” important?

A

Must align compensation with organizational goals

Look at vision, mission, values to create strategy

29
Q

The ___________________ is an approach to organization design based on the premise that the best type of structure for an organization depends on the key contingencies associated with that organization.

A

Contingency approach to organization design

30
Q

What is the difference between structural and contextual variables?

A

Structural variables are

31
Q

What are the 3 main managerial strategies?

A
  1. Classical
  2. Human relations
  3. High involvement
32
Q

This type of managerial strategy thinks that employees inherently dislike work, so compensation needs to drive them to do their jobs by using the threat of taking it away if they fail.

A

Classical

33
Q

This type of managerial strategy thinks that satisfying employees social needs can help them stay motivated.

A

Human relations

34
Q

This type of managerial strategy assumes that work can be intrinsically motivating if the organization is structured properly.

A

High involvement

35
Q

List the 5 key contextual variables that determine the most appropriate managerial strategy to use.

A
  1. Environment
  2. Corporate strategy
  3. Technology
  4. Company size
  5. Nature of the workforce
36
Q

An environment that is highly dynamic and complex likely requires the ________________ managerial strategy.

A

High involvement

37
Q

An environment that is complex but stable use what managerial strategy?

A

Classical and human relations

38
Q

The ___________ business strategy focuses on dominating a narrow product or service market segment, according to Miles and Snow. It should use classical or human relations managerial strategies.

A

Defender

39
Q

According to Porter’s typology, what strategies are best suited to the classical managerial strategy?

A

Low-cost

40
Q

The __________ business strategy focuses on identifying and exploiting new opportunities quickly, and should use the high-involvement managerial approach

A

Prospector

41
Q

According to Porter’s typology, what strategies are best suited to the high involvement managerial strategy?

A

Differential

42
Q

The __________ business strategy focuses on exploiting new opportunities at a relatively early stage while maintaining a base of traditional products/services, and can use all 3 managerial approaches.

A

Analyzer

43
Q

How have managerial strategies evolved over the 20th century?

A

Many socioeconomic changes encouraged movement from classical and human relations to high-involvement management.
Better technology allows for flatter org. structure and decentralized decision making, products and services are more complex, also working against classical and human relations.
Developing countries have conditions that better fit classical organizations and those companies have moved there for outsourcing.
Modern business needs flexibility and good relationships between employees and employers

44
Q

How have compensation strategies evolved over the 20th century?

A

Pay systems are more complex, human relations firms brought up more indirect pay for benefits to increase employee security and well-being. Happened again with high-involvement firms.
Many more pay-for-performance systems, move from hourly wage to salary
Global financial crisis caused two-tier systems to become more popular
Increased use of contract workers due to cheapness to employ
Rise of non-cash bonuses

45
Q

What are the 3 main types of reward problems?

A
  1. failure to produce desired behaviour
  2. production of the desired behaviour but with undesirable consequences
  3. production of reward dissatisfaction
46
Q

What are 3 key employee attitudes that employers desire in employees?

A
  1. job satisfaction
  2. work motivation
  3. organizational identification
47
Q

What are 3 key employee behaviours?

A
  1. membership behaviour
  2. task behaviour
  3. organizational citizenship behaviour
48
Q

_____________ is attachment to an organization based on positive feelings toward the organization.

A

Affective commitment

49
Q

_____________ is attachment to an organization based on perceived lack of better values.

A

Continuance commitment

Business 310 (2 decks)

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