Unit 2 Business Studies Flashcards
Motivating employees through the means of?
- Money
- Job security
- Social needs
- Self esteem
- Job satisfaction
Benefits of well-motivated employers
- Improved productivity (higher level of output)
- More competitive
- Low rate of absenteesim (less sick days off and less personal days off)
- Better quality goods and services
- Low rate of labour turnover (less people would want to leave the company)
Maslow hierachy of needs?
- Self acutalisation
(Taking on more responsibility) - Esteem needs
(promotion opportunities) - social needs
(Supportive colleagues) - Safety/security needs
(job security) - Physiological needs (Reasonable wage/ salary)
Taylor principles of scientific managements?
Piece-rate system
Workers get paid for the number of output they produce.
Herzberg’s motivation
Hygiene factors
- Statues
- Security
- Working conditions
- relationships
- Salary
Motivational Factors
- Achievements
- Recognition
- Personal growth
- Promotion
Financial Motivation
- Time-rate
(Number of hours worked) - Piece-rate:
(Number of items produced) - Salary:
(Paid monthly or weekly) - Commission
(Based on percentage of sales) - Bonus:
(additional amount paid for good work) - Performance - related pay
(Paid based on performance)
Non-financial motivation
- Job enlargement
(Extra tasks of similar level - Job rotation
(Swapping jobs around) - Job enrichments
(Adding tasks that require more skill) - Team working
(Increases the sense of moral within the company) - Opportunities for promotion
(Workers will work more effciently)
What are fringe benefits
Benefits that are recieved by the employee which is given by the company
Types of fringe benefits
- Free medical insurance
- Company car
- Free housing
- Free food and coffe
- work from home
What is profit sharing and how will they be motivated
Profit-sharing will allow employees to have a share of the profits. This means that the emplyees will work more efficient and effectly to achieve this financial goal.
What is organisational structure
levels of management and division of reponsibilities within a business
What are the benefits of organisational structure
- All employees are aware of whih communication channel to use
- employee can see their own position in the organsiation
- shows links and relationshipsbetween different departments
- gives a sense of belonging
What is the span of control, Tall and Wide
The number of subordinates working directly under a manager
- Tall
Narrow span of control, tall structure with a long chain of command - Wide
Wide span of control, short structure with a short chain of command.
Advantages and disadvantage of Wide spand of control
Advantages
- Faster communication
- Fewer supervisiors and managers
- Encourage delegation
Disadvantges
- Less control
- Workers may not have the skill
- Communcation with more delegates
Advantages and Disadvantages of Narrow span of control
Advantages
- Fewer employees to supervise
-Opportunities for promotion
Disadvantges
- Slow communiction
- Employees are distanced from senior managers
What is the chain of command
The structure of an organisation that allows instructions to be passed on from senior managers to lower levels of managements
Short chain of command Advantages and Disadvantages
Advantages
- Quick communication
- Easier to delegate tasks
- Workers feel more motivated
- Less managers needed
Disadvantages
- Limited promotions (only one layer of management)
- Increased workload for managers
- Increased span of control
Long chin of command Advantages and Disadvantages
Advantages
- Clear Hierachy
- Efficient resource allocation’
-Speacialisation
Disadvantages
- Delayed decision making
- Communication break-down
- Reduced autonomy
What are the roles of Management
- Planning
Setting aims and targets for the organisation to achieve
-Organising
Managers should organise the resources. Including allocating responsibilities to emplyees
- Coordinating
Managers should ensure that each department is coordinating with each other - Commading
guding, leading, supervising - Controlling
Assess and evalute the performance of each of their empl;yees
Delegation what is it?
Giving the subordinate the authority to perform particular tasks
Advanteges for manager and workers from delegation
Managers
- frees up time
- can manage easily
worker
- work becomes rewarding and intereting’
- Emplyees feels trusted and important
Autocratic what is it?
Expects to be in charge of the business
All orders must be followed
Not involving emplyee input
Advantages and disadvantges of autocratic
Adv
Quick decision making
Effective during a crisis
Disadvantage
Better ideas may be ignored
demotivating
Democratic what is it?
Managers involve employees in the decision making
Adv and dis for Democratic
Adv
The best ideas are taken
Motivating employees
Dis
Takes along time for a decision
What is Laissez - Faire
Give the employee broad objectives and leave them to do their decision making
Adv and Dis of Lazzie-faire
Adv
Encourages employee creativity
Dis
Lack of direction
No clear decision making structure
What is a trade union
A group of workers who join together to ensure their interests are protected
Some things about trade unions and limitations
Better pay
Better worker conditions
Better health and safety
Improved job satisfaction
- limitations
Costs money to be in a union
