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COMP3219 > Week 10 > Flashcards

Week 10 Flashcards

1
Q

Maslow’s Hierarchy of Needs

A

Basis for Mcgregor’s theories X,Y (and Z)

Self-actualization
Esteem
Social needs
Safety/security
Physiological needs
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2
Q

Theory X

A 
McGregor
Driven by monitory concerns
Avoid work where possible
Lack ambition and dislike responsibility
Indifferent to organizational needs
Lack creativity and resist change
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3
Q

Theory Y

A

McGregor

Driven by job satisfaction
Actively seek work
Show ambition and seek responsibility
Follow organizational objectives
Have creativity and welcome change
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4
Q

Theory Z

A

Need for self-fulfilment or transendence

Organisations that enable their staff to achieve this will earn their loyalty

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5
Q

Goal Setting

A

Locke and Latham
Beneficial effect on task performance
More effective if (Challenging (still achievable), specific, quantiative, monetary reward, supportive approach)
Feedback on performance should be provided regularly

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6
Q

MBO/MBR

A

Management by Objectives/Results
More effective when top management is committed to the approach
Objectives set in appraisal meetings by manager and employee
Performance renewed and new objectives set annually
Bonuses for meeting/exceeding objectives (Objectively measurable) cf traditional factory workers

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7
Q

Appraisal meetings

A

Constructive place to reflect
Suitable time, private space, planned duration
Summary of last appraisal meeting and agreed objectives

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8
Q

Objectives not met or only partially met in appraisal meetings

A

Let employee explain the situation from their perspective
Adjustment of the targets
Additional coaching or training

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9
Q

Poorly run appraisals

A

Checkboxes, subjective evaluations, overt criticisms/threats/defensiveness
Managers unable/unwilling to give direct constructive criticism
Negative perfecptions from employees

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10
Q

Improving poorly run appraisals

A

Switch to having frequent discussions as opposed to annual appraisal meetings
Setting future goals may be better separated from past performance reviews

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11
Q

Improving subjective and innacurate ratings

A

360 degree feedback, use multiple raters
Solicit feedback from all areas employee interacts with (Other employees/employers)
Use of feedback in evaluation could be dubious (Large variety in ratings, anonymous reviewers can harbour grudges)

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12
Q

Scott Adams’ Company Model (Dilbert Principle)

A

Companies with effective employees and good products usually do well
Any activity which is one level removed from people and products will eventually fail or have little benefit
Rule for “one-off” activities should be consistency (don’t tinker)

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13
Q

Out at 5 Managers

A

Stay out of the way
Eliminate the assholes
Make sure employees learn something every day
Creative an environment which supports curiousity and learning
Teach employees how to be efficient

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14
Q

Adams’ Equity theory

A

Not Scott Adams
Staff will inevitably compare input/reward ratios, must be a reactive process
If rewards aren’t fair, staff will lose motivation

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15
Q

Performance related pay schemes from Green & Heywood

A

Increase productivity, effort, earnings

Increase pay variability, lower morale for less productive workers

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16
Q

Should a company use performance pay/bonuses

A

Highest job satisfaction where no performance pay/bonuses exist
Job security declines where no performance pay/bonuses exist
Although negatives disppear when accounting for worker fixed effects
Conclusion will vary depending on the type of worker and company involved

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17
Q

High performance workplaces

A

Create belonging, esteem and commitment

Piece rates known to increase efforts more than time rates

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18
Q

Job satisfaction

A

Declines with education level and company size

Public sector workers tend to be more satisfied

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19
Q

Pay and satisfaction

A

Only loosely related
Stronger link between pay level and pay satisfaction
Looser link between pay level and job satisfaction

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20
Q

Wellbeing from Diener and Tay

A

Increasing globally

As average income also rises

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21
Q

Team based rewards as opposed to individual rewards

A

In many cases, performance is dependent on a team rather than one person
Individual rewards don’t incentivize good team behaviour and may even undermine cooperation in competitive organisations
Some employees concerned about “free riding”

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22
Q

Team based rewards research

A

DeMatteo : Reports of increases of 28-76% productivity cf previous measures, unclear what under conditions team rewards are effective, worth studying reward, team and organizational characteristics and individual differences

Ladley : Game theory simulation: Group based systems outperform individual or mixed systems. Produce most cooperative behaviour and highest performing individuals/groups

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23
Q

Team-based rewards options

A

Incentive pay
Recognition
Profit sharing
Gain sharing

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24
Q

Incentive pay

A

Can be combined with incentive pay per individual

May put off employees averse to identifying as team members

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25
Recognition
One-off additional payment for exceptional performance | After the fact, so doesn't enhance motivation to begin with
26
Profit sharing
Gives employees incentive to monitor employers results Profits may not be affected very much by the team's performance Safer as bonus can be varied up or down in line with profits (cf employee share schemes) Can be demotivating if bonus is significantly lower than a previous year
27
Gain sharing
Rewards team for improvements in local production measures | Hopefully can be influenced by the team in some way
28
Employee Share Scheme
Employees have the right to buy shares at a discount giving them a long term stake Motivation to act in the company's best interests Sense of ownership known to encourage them to stay with the firm If too many shares given, other shareholders lose out Tax breaks can be given to the employer Executives may be granted shares based on the company's performance
29
Other incentives
Overtime Company cars Subsidised travel et.al
30
Kahneman & Tversky's prospect theory
Losses hurt more than gains, so are avoided
31
Drucker's management functions
``` Set team/organisational objectives Provide resources to meet objectives Motivate staff Monitor staff performance against objectives Improve performance by developing staff ```
32
Walk the corridors (3Gs)
Builds trust, dispels "myths" around those in leadership. Can listen to staff and understand them better Real place, real work and real facts
33
OODA (John Boyd)
Observe, orient, decide, act Developed by the military, fast decisions required from one person Less useful for strategic decisions which require longer deliberation and more people
34
Drucker purpose of business
Create and keep a customer
35
Drucker business enterprise basic functions
Marketing and innovation
36
Management/Leadership style (Blake and Mouton)
``` Dependent on concerns for tasks and concern for staff Country club Team Impoverished Task compliance & Middle of the road ```
37
Sources of power (French and Raven)
``` Legitimate Reward Coercive Expert Charismatic (Often the most influential source of power) ```
38
Transactional leadership
Reward effort and good performance Coercion to correct poor performance or compliance Leaders need to be able to follow through otherwise they damage their credibility
39
Transformational leadership (Downton and Burns)
Proactively change company culture to implement new business practices Ideals (Act as role model) Inspiration (Charm to inspire effort) Individual consideration Intellectual stimulation (Promotes creative and innovative solutions) Enhances staff satisfaction with their leaders however transactional leadership may boost performance more
40
Charismatic leadership
Skilled communicators who reach followers at an emotional level Greater emphasis on vision May encourage risk taking behaviour amongst followers More associated with politics and religion also Can allow for tunnel vision and staff dependence
41
Masterful inactivity
Can argue that change is cyclical and current crisis is only temporary Works better in long term investments/politics Grove "Only the paranoid survive" in modern business Always changes to manage so not recommended
42
Situational Leadership (Hersey and Blanchard)
``` Mapping of commitment against competence Coaching Delegating Directing Supporting ```
43
Questions to ask yourself for situational decision making (Vroom, Yetton, Jago)
``` Quality requirement Commitment requirement Leader's Information Problem Structure Commitment Probability Goal Congruence Subordinate conflict Subordinate information ```
44
Different styles of decision making
``` Autocratic 1 (Only using information available to them) Autocratic 2 (Obtains additional information from group members, makes decision alone, group members may/may not be informed) Consultative 1 (Leader shares problem with group members individually, asks for information/evaluation, no collective meeting, leader makes decision alone) Consultative 2 (Leader shares problem with group members collectively but makes decision alone) Group 2 (Leader meets with group to discuss situation, leader focuses and directs discussion without imposing will. Group makes final decision) ```
45
Population and income growth
Mostly expected in Africa and Asia Global companies must target these continents Propserous families have fewer children (save the planet by letting everyone propser)
46
Taylor on production
Argued managers should match workers to their jobs Determine their ability and provide the right training Determine the expected output for each worker on each task Provide workers with proper working methods, tools and routing Select and train supervisors, introduce incentive payments
47
Hawthorne conclusions
No correlation between productivity and working conditions Belonging to a group creates status and boosts morale Productivity is boosted by treating workers with respect
48
Statistical quality control
Dependent on repeatable processes and detailed measurements Determine acceptable failure rate and failure modes and test against them Drucker "If you can't measure it, you can't manage it" - Need for precise measurements and statistics
49
Six Sigma approach to quality (DMAIC)
Six standard deviations away from the mean. 1 in a million manufacturing failure rate Can be different in practice depending on product and market Define, measure, analyze, improve, control (alternative of PDCA/PDSA)
50
Bathtub curve
Time dependence of failures create bathtub curve Early failures (Infant mortality) Constant random failures Failures from wearing out
51
Alternative quality definitions (Deming, Juran, Crosby, Feigenbaum)
Non-faulty systems Fitness for use Conformance to requirements Customer determination based on experience with product measured against their requirements, stated or unstated. Always represnts a moving target in a competitive market
52
Kaizen philosophy
Continuously improving working practices | Reaching targets by stepwise improvements rather than radical changes
53
Shewart idea
Plan do check act | Plan do study adjust
54
Deming in Japan
Took ideas from Kaizen and Shewart Emphasized profound knowledge Appreciating a system fully You cannot improve what you do not understand
55
Approaches to quality
``` Quality control (Maintain standards by testing) Quality assurance (Maintain standards by providing confidences) Total quality management (Everyone responsible for maintaing standards) ```
56
Kanban assumptions
Any system has a natural rate - it's Takt time
57
Profound knowledge
``` Focus on reducing waste Quality is free (Conformance costs vs noncoformance cost) Trust workers to improve quality Trust workers to estimate their work Any system has a natural rate ```
58
Japan/Toyota steps to quality (5Gs)
``` Real place Go and see Data and facts Principles Standards ```
59
Root cause analysis (5 Whys)
Ask why 5 times to try and find the source of failure | Can also use a fishbone diagram
60
Waste (Muda)
Transportation | Waiting et al.
61
Pareto principle
80% of outcomes are traced to 20% of causes
62
Control chart
Allows you to measure if a process is within any defined limits
63
Poka Yoke
Mistake proofing
64
Heijunka
Levlling the workload
65
5 Ss (Quality techniques in manufacturing)
``` Sort out Set in order Sweep Standardise Sustain ```
66
Lean thinking in business processes
Trying to avoid duplicated data, excessive reporting et al. (Waste) Use process maps or flowcharts to map, measure, control and fix a process
67
ISO 9001-2015 quality management systems overview
Very popular certification (1m globally) Sector specific variants exist Some argue that the paperwork is excessive
68
ISO 9001-2015 Principles
``` Customer focus Leadership Engagement of people Process approach Improvement Evidence-based decision making Relationship management ```
69
Business changes
Start-up companies may begin with one plan and then pivot to another Mature companies can boost their life through a strategic inflection point Companies in decline may need to close or sell off failing divisions (or risk bought or merged with another company)
70
Company lifecyle
Sales (starts at 0, peaks at end of growth, beginning of maturity) Cash (Decreases from 0 initially, peaks in maturity) Profit (Decreases from 0 initially, peaks in growth)
71
Company executive decision making
Is service making a loss?, Can it be sold?, Can it be turned around without making anyone redundant? Consider impact on profits and costs. Doesn't focus on the future Decision is about the future, need to ask if this is a blip and whatnot
72
Inflection points
More likely in technology businesses May destroy old businesses but will create new opportunities Creative destruction
73
Projectification
Technology businesses are driven by product development projects Marketing is also driven by projects (campaigns) Both firms and the public sector have been "projectified"
74
Change management projects
Often fail Consider those being affected(threatened, undermine the change passively or actively) Require: trust change is positive, persuasive vision people can buy into and executive sponsorship/ownership
75
Kotter's 8 step process for change management projects
``` Establish a sense of urgency Create a guiding coalition Develop a change vision Communicate the vision for buy-in Empower broad-based action Generate short-term wins Never let up Incorporate changes into culture ```
76
Kanter's Change Masters
Someone that drives change ``` Tune into the environment Use kaleidoscope thinking Communicate a clear vision Build coalitions Work through teams Persist and persevere Make everyone a hero ```
77
Crisis
Unexpected threat to the organization | Need to consider the reality and perception both internally and externally from the company
78
Lerbinger 8 Crisis categories
Natural disaster, technological crisis, confrontation, malevolence, organizational misdeeds, workplace violence, rumours, terrorism Others also
79
Crisis Management
Perceptions about the risk, combined with context and preparations Dealing with an event through planned and ad-hoc individual/collective reactions
80
Coombs on crisis management
Situational crisis communication theory needed Crisis responsibility, response strategies, emotions, crisis history, prior relationship and organisation reputation all drive behaviour (communication)
81
Insolvency
Insufficient inflows to meet cash outflows | Avoided by negotiating with creditors, liquidating assets, acquisitions/takeovers, court relief etc.
82
Due Diligence
Analyse a company prior to business transaction Company situation, operations, staff and other assets Done with questionnaire (dubious responses), consulting industry analysists, key company personnel (potential employees), published accounts, management accounts (nda) Liability insurance doesn't cover everything
83
Due diligence questionnaire

COMP3219 (14 decks)

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