Final examination (Answers to management)

Final examination (Answers to management)

1.Мanagement and functions of management. Level 3

Management is the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources.

The Four Management Functions

Planning. Identifying goals and resources or future organizational performance.

Organizing. Assigning tasks, delegating authority and allocating resources.

Leading. The use of influence to motivate employees to achieve goals.

Controlling. Monitoring activities and taking corrective action when needed.

2.Managers and types of managers. Level 3

What is it Like to Be a Manager?

The manager’s job is diverse

Managerial tasks can be characterized into characteristics and roles

Managers are responsible for different departments,work at different levels in the hierarchy and meet different requirements for achieving high performance.They use conceptual,human and technical skills to perform the 4 management functions in all organizations.

In organizations,there are typically 3 levels of management:

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Top-level managers

Middle-level managers

First-line manager

Vertical Differences

Top Managers

Middle Managers

First-Line Managers

Horizontal Differences

Functional departments like advertising, manufacturing, sales

Include both line and staff functions

1)Top managers are managers who are responsible for the entire organization.(also called senior management or executives)They make decisions affecting the eentirety of the firm,do not direct the day-to-day activities of the firm;rather set goals for the organization and direct the company to achieve them.

2)Middle managers are managers who are responsible for the work of major divisions and departments.They carrying out the goals set by the top management.They do it by setting goals for their departments and other business units .

Functional middle managers- manager who is responsible for the department that perform a single functional task and has employees with similar training and skills.It maybe the head of department.

General middle managers- manager who is responsible for several departments or divisions that perform different functions.It maybe the head of division.

3)First-line mangers are managers who are directly responsible for the production of goods and services and non-management employees,they are in charge of the daily management of line workers.

3.Management roles and management skills. The skills needed at different management levels. Level 2

Today’s environment is diverse, dynamic and ever-changing.Organizations need managers who can build networks and pull people together in order to manage their deal in effective and efficient way via 4 functions of management. A manager’s job is complex and multidimensional and require range of skills. There are 3 common types of skills:conceptual,human and technical.

Conceptual Skills manager’s ability to see the organization as a whole system in the long run.(it’s crucial for top managers)

Human(interpersonal) Skills the ability to work with and through other people,to establish human relations.(it’s critical at all levels of management)

Technical Skills the understanding and proficiency in the performance of specific tasks.(First-line managers need this type of skills in a greater extent)

Relationship of Skills to Management

4.Organizational performance (org-n, effectiveness, efficiency) Level 3

Organizational Performance

Organizations bring together knowledge, people, and raw materials to perform tasks

Effectiveness is the degree to which the organizations achieves goals.If organization achieve its stated goals within a specified period of time period then such organization is effective.

Efficiency is the use of minimal resources to produce desired output.If organization uses minimum resources to produce maximum output then such organization is efficient.

Organization is a social entity that is goal directed and deliberately structured.

Social entity means being made up of two or more people. Goal directed means designed to achieve some outcome, such as make a profit, meet spiritual needs or provide social satisfaction. Deliberately structured means that tasks are divided and responsibility for their performance is assigned to organization members.

5. The writings of Fayol, Taylor, and Weber provide the foundation for modern management. Identify the school of thought associated with each writer and compare the focus that each writer takes in relation to the organization.

Classical Perspective

Scientific Management

Bureaucratic Organizations

Administrative Principles

1)Scientific Management

Frederick Winslow Taylor (1856-1915), father of scientific management

Scientific Management – a theory that emphasizes improvement of labor productivity by means of scientific methods. Founder: F. Taylor (1856-1915)

Focus on improving efficiency and labor productivity

Workers could be retooled like machines

Managers would need to change

Incentive systems for meeting standards

To use this approach, managers develop precise, standardized procedures for doing each job, select workers with appropriate abilities, train workers in the standard procedures, plan work and provide wage incentives to increase output.

2)Bureaucratic Organizations

Max Weber (1864-1920), a German theorist introduced the bureaucratic theories

Bureaucratic Organizations – a theory according to which authority and responsibilities should be clearly defined, formal recordkeeping should be maintained and management and ownership should be separated. Founder: Max Weber (1864-1920)

Rational authority—more efficient and adaptable to change

Selection and advancement would be focused on competence and technical qualifications

The term bureaucracy has taken on a negative tone, associated with endless “red tape”

3)Administrative Principles

Henri Foyal (1841-1925), French mining engineer and other contributors led the ideas

Administrative theory-a theory that focuses on management of the whole organization rather individual workers,and described such functions of management as Planning, Organizing, Commanding, Coordinating, and Controlling.

Foyal identified five functions of management: Planning, Organizing, Commanding, Coordinating, and Controlling.

6.Advantages and disadvantages of Taylor's Scientific Management.

Characteristics of Scientific Management

7.Humanistic perspective: Human relations movement, Human resources perspective. Level 2

Humanistic perspectives emphasizes importance of understanding human behaviors: needs, attitudes and social interactions.Consist of two subfields:

Human Relations Movement

Human Resources Perspective

1)Human Relations Movement-a theory according to which productivity of workers will improve if their basic needs are satisfied.

Maslow’s hierarchy started with physiological needs and progressed to safety, belongingness, esteem and finally self-actualization.

Control comes from the individual worker rather than authoritarian control

The Hawthorne studies found increased output due to managers’ better treatment of employees

Money isn’t mattered a great deal

Productivity increased from feelings of importance

Created a focus on positive treatment of employees

2)Human Resources Perspective implies that job tasks should be designed in such a way that employees could use all their potential.

Focus on job tasks and theories of motivation

Reduce dehumanizing or demeaning work

Allow workers to use full potential

Main contributors: Abraham Maslow and Douglas McGregor

Maslow’s Hierarchy of Needs

McGregor’s Theory X/Theory Y

Theory X and Theory Y

8.E-business and e-commerce. Level 1

Today,much business takes place by digital process over a computer network rather than in physical space.

E-business can be defined as any business that takes place by digital processes over a computer network rather than in physical space. Most commonly today, it refers to electronic linkages over the Internet with customers, partners, suppliers, employees, or other key constituents.

E-commerce specifically refers to business exchanges or transactions that occur electronically.It replaces improves the exchange of money and products with the exchange of data and information from one computer to another.

There are three types of e-commerce:

Business-to-consumer(B2C)-selling products and services online

Business-to- business(B2B)-transactions between organizations

Consumer-to-consumer(C2C)-electronic markets created by Web-Based intermediares

9.General environment and its dimensions. Level 2

The general environment represents an outer layer of the environment. The dimensions of the general environment include international, technological, socio-cultural, economic and legal political.

1)International dimension includes opportunities for companies to enter and operate in international markets.

Events originating in foreign countries

Impacts all aspects of the external environment

New competitors

New customers

New suppliers

Today, all companies global

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Desktop computers

Networks

Internet Access

Handheld devices

Videoconferencing

Cell phones

Laptop

WiFi

Medical advances

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Desktop computers

Networks

Internet Access

Handheld devices

Videoconferencing

Cell phones

Laptop

WiFi

Medical advances

2)Technological dimension includes scientific and technological advancements in a specific industry as well as in society.

Scientific and technological advances

Specific industries

Society at large

Impact:

Organizations

Managers

Customers

3)Economic dimension represents general economic health of the country or region in which the organization operates.(consumer purchasing power, unemployment rate, interest rate)

In order to survive in unstable environment many companies create merges and joint ventures.

-Merger occurs when two or more organizations combine to become one(Bank TuranAlem)

-Joint venture involves a strategic alliance or a program by two or more organizations (short term or long term)This typically occurs when a project is too complex, expensive or uncertain for one firm to do alone(SonyEricsson)

4)Socio-Cultural dimension represents the demographic characteristics(population density,age and education levels)as well as the norms, customs and values of poulation.

Today’s demographics are the foundation of the future workforce

Demographic trends affect organizations globally

5)Legal-political dimension includes government regulations as well as policies designed to influence company behavior.(For ex: prohibition of the advertisement of alcoholic beverages)

10.Task environment and its four primary sectors. Level 2

Task Environment is closer to organization and includes sectors that have a direct working relationship with the organization:

Customers-those people or organizations in the environment who acquire goods and services from the organization.

Competitors- other organizations in the same industry that provide goods and services to the same set of customers.

Suppliers-people or organizations that provide raw materials the organization uses to produce its output.

Labor Market-people in the environment who can be hired to work for the organization.

Internal environment: corporate culture. Level 2

The internal environment within which managers work includes the following elements:

Employees

Management

Corporate culture and so on

The concept of culture helps managers understand the hidden, complex, aspects of organizational life. Culture is a pattern of shared values and assumptions about how things are done within the organization. This pattern Corporate culture – set of key values, beliefs, understandings, and norms shared by members of an organization.

The different levels of culture.

Corporate culture is like an iceberg in the ocean. Only the smallest part of it is visible but the greatest part is invisible from the sight.

1. Visible level of corporate culture includes such things as manner of dress, patterns of behavior, physical symbols, and organizational ceremonies, office design – these are things that anyone can see, hear, and observe.

Symbols. They effectively summarize organization’s intrinsic behavior. Symbols are awards or incentives that symbolize preferred behavior; “employee of the month” is one such example of a symbol.

Organizational Ceremonies. New hire trainings, annual corporate conferences, awards, and so on.

2. Invisible level of corporate culture includes unwritten rules, values, and beliefs, which are not observable. These are deeper values that members of the organization hold at a conscious level. They can be interpreted from stories, heroes, and slogans and they use to motivate employess.

Four types of corporate cultures. Level

Adaptability culture – a culture used by companies that operate in a quickly changing industry. Adaptability culture requires fast response and high-risk decision-making. Employees have autonomy to make decisions and act freely to meet customers’ needs.

Involvement culture – a culture that focuses on meeting the needs of employess in order to increase productivity. The organization may be characterized by caring and family-like atmosphere. Managers emphasize such values as cooperation, consideration of both employees and customers, and avoiding status differences.

Achievement culture – a culture that focuses on the achievement of results than on satisfaction of employees’’ needs. This culture is suitable to organization that are concerned with serving specific customers in the external environment but without the strong need for flexibility and rapid change. This is resulted-oriented culture that values competitiveness, aggressiveness, personal initiative, and willingness to work and hard to achieve results.

Consistency culture – a culture that focuses on rationality, discipline, and order of doing things while operating in a stable environment.

Adaptability and involvement cultures are very flexible, but achievement and consistency cultures are rigid, with many rules and regulations. Each of this cultures can be successful.

Strategies for entering international markets (outsourcing, exporting, …)

Outsourcing – an entry strategy in which a company creates manufacturing division in a foreign country with the purpose of using its chapter labor and raw materials.

Exporting – an entry strategy in which a company produces goods and services within the borders of its country but sells them abroad.

Licensing - an entry strategy in which a licensor sells technology, brand or trademark to a licensee to produce similar products in his country.

Franchising – a form of licensing in which a franchisor sells the right to the franchisee to produce and sell same products in his country.

Direct investing - an entry strategy in which a company is directly involved in managing its productive assets in a foreign country. There are three forms of direct investment:

Joint venture involves a strategic alliance or a program by two or more organizations

Acquisition of a foreign affiliate occurs when a company buys affiliate from another company in a foreign country.

Greenfield Venture occurs when a company builds a subsidiary from scratch in a foreign country.

Hofstede’s cultural dimensions Level 3

Hofstede analyzed and found clear patterns of similarity and difference among these five dimensions.

1. Power distance – the extent to which the less powerful members of organizations and institutions accept that power is distributed unequally. A high PD index indicates that society accepts an unequal distribution of power and people understand “their place” in the system(Malaysia, the Philippines, Panama). Low PD index means that power is shared and well distributed. It also means that employees view themselves as equals.

2. Individualism vs. Collectivism.

Individualism means that people are expected to stand for themselves and choose their own way of living. (USA, Australia, GB)

Collectivism means that people are integrated into strong, cohesive groups. (Panama, Indonesia, Ecuador)

3. Masculinity vs. Femininity

Masculinity implies that emphasis of society is made on male values such as achievement, heroism, competitiveness, assertiveness, and material success. (Japan, Hungary and Austria). High MAS scores are found in countries where men are expected to be tough, to be the provider, to be assertive, and strong. In Low MAS the roles are simply blurred. Yousee women and men working together equally across many professions.

Femininity implies that emphasis of society is made on female values such as good relationships and quality of life. (Sweden, Denmark).

4. Uncertainty avoidance – the degree of anxiety society members feel when in uncertain or unknown situations. Cultures with high uncertainty avoidance index develop rules, laws, and safety measures(Greece, Portugal). Cultures with low uncertainty avoidance are not afraid of the unclear and the unpredictable, they just try to adapt to changes.(Denmark, Singapure)

5. Long Term orientation LTO – refers to how much society values long term traditions and values. In countries with high LTO score, delivering on social obligations and avoiding “loss of face” are considering very important. USA, GB have low LTO. This suggests that you can pretty much expect anything in this culture in terms of creative expression and novel ideas. They don’t value tradition as much as many others, and therefore likely willing to help you execute the most innovative plans as long as they get to participate fully.

European union and North American Free Trade Agreement (NAFTA)

The North American Free Trade Agreement (NAFTA) is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America.

NAFTA came into effect on January 1, 1994 and superseded the Canada – United States Free Trade Agreement.

Within 10 years of the implementation of NAFTA, all U.S.-Mexico tariffs are to be eliminated except for some U.S. agricultural exports to Mexico which will be phased out within 15 years.

Most U.S. - Canada trade was duty free before NAFTA.

NAFTA also seeks to eliminate non-tariff trade barriers and to protect the intellectual property right of the products.

When viewing the combined GDP of its members, as of 2010 NAFTA is the largest trade bloc in the world.

In terms of combined GDP of its members, the trade bloc is the largest in the world as of 2010. NAFTA has two supplements: the North American Agreement on Environmental Cooperation (NAAEC) and the North American Agreement on Labor Cooperation (NAALC). The goal of NAFTA was to eliminate barriers to trade and investment among the U.S., Canada, and Mexico.

The implementation of NAFTA on January 1, 1994 brought the immediate elimination of tariffs on more than one-half of Mexico's exports to the U.S. and more than one-third of U.S. exports to Mexico. Within 10 years of the implementation of the agreement, all U.S.--Mexico tariffs would be eliminated except for some U.S. agricultural exports to Mexico that were to be phased out within 15 years. Most U.S.--Canada trade was already duty free. NAFTA also seeks to eliminate non-tariff trade barriers and to protect the intellectual property right of the products.

The agreement opened the door for open trade, ending tariffs on various goods and services, and implementing equality between Canada, America, and Mexico. NAFTA has allowed agricultural goods such as eggs, corn, and meats to be tariff-free. This allowed corporations to trade freely and import and export various goods on a North American scale .

Define ethics and explain how the domain of ethics relates to law and free choice.

Ethics is the code of moral principles and values that governs the behavior of people with respect to what is right or wrong. Ethics can be more clearly understood when compared with behaviors governed by laws and by free choice. Exhibit 5.1 illustrates that human behavior falls into 3 categories. The first is codified law, in which values and standards are written into the legal system and enforceable in the courts. In this area, lawmakers set rules that people and corporations must follow in a certain way. The domain of free choice is at the opposite end of the scale and pertains to behavior about which the law has no say and for which an individual or organization enjoys complete freedom. Between these domains lies the area of ethics. This domain has no specific laws, yet it does have standards of conducts base on shared principles and values about moral conduct that guide an individual or company. Many companies and individuals get into trouble with the simplified view that choices are governed by either law or free choice. It leads people to mistakenly assume that if it's not illegal, it must be ethical, as if this third domain didn't exist. A better option is to recognize the domain of ethics and accept moral values as a powerful force for good that can regulate behaviors both inside and outside corporations. As principles of ethics and social responsibility are more widely recognized, companies can use codes of ethics and their corporate cultures to govern behavior, thereby eliminating the need for additional laws and avoiding the problems of unfettered choice.

The utilitarian, individualism, moral-rights, and justice approaches for evaluating ethical behavior.

The utilitarian approach implies that behavior is moral if it produces the greatest utility for the greatest number of people. Under this approach, a decision maker while making his decision should choose the best alternative that will satisfy the greatest number of people. This approach is often used in crisis.

Individualism approach implies that behavior is moral if it serves individual’s long-term interests, which eventually leads to the greater good. This approach is an opposite of the utilitarian approach. A decision maker while making decision should choose the best alternative that will satisfy individuals to a larger degree. Individualism is believed to lead to honesty and integrity bcs that workers best in the long run.

Moral-rights approach implies that behavior is moral if it doesn’t violate the rights of people. Each individual has his own moral rights: right to privacy, the right of freedom, of free speech, right to life and safety. To make ethical decisions, managers need to avoid interfering with the fundamental rights of others.

Justice approach implies that behavior is moral if it’s based on standards of equity and fairness. Individuals must be treated equally from moral right point of view but they should be treated differently according to their skills and qualifications, they shouldn’t receive different salary for performing similar tasks.

Three levels of personal moral development.

Preconventional level managers are mostly concerned with themselves, they blindly follow the rules to avoid punishment, and they act in their own interest in order to get rewards. Important thing for managers here is just task accomplishment

Conventional level managers try to satisfy expectations of other people; they want to seem good to others. If their colleagues, family, friends, and society think that such of behavior is good, they behave in that way. Here it is important group cooperation.

Postconventional level managers are guided by their internal values and beliefs, and they disobey rules and laws that violate their interests. They will act in ethical way regardless of expectations from others inside and outside the organization.

Entrepreneurship, entrepreneur and small business.

Entrepreneurship – the process of initiating a business venture, organizing necessary resources, and assuming the associated risks and rewards.

Entrepreneur is a person who creates his own business or company in the face of risk and uncertainty His purpose is to achieve high profits and growth. Entrepreneur can be young people (30%), women (72%), minority (Chinese, Indian restaurant), immigrant, home-based entrepreneurs, family business (90%), copreneurs(couple that work together).

Small Business is an enterprise, which has a small number of employees, low volume of sales, small amount of assets and limited impact on the market.

Five types of small business owners Level 2

Idealists – people who like the idea of working on something that is new, creative, or personally meaningful.

Optimizers – people who get satisfaction of being business owners because it gives them power.

Hard workers – people who enjoy working long hours and want their business to grow larger and more profitable.

Sustainers – people who want to balance work and personal life and often don’t want the business grow too large, they like stability.

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Idealists24%

Optimizers21%

Hard Workers20%

Jugglers20%

Sustainers15%

Rewarded by chance to work on something new and creative

Thrive on the challenge of building a larger, more profitable business

Enjoy chance to balance work and personal life

Get personal satisfaction from being a business owner

High-energy people who enjoy handling every detail of their own business

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Idealists24%

Optimizers21%

Hard Workers20%

Jugglers20%

Sustainers15%

Rewarded by chance to work on something new and creative

Thrive on the challenge of building a larger, more profitable business

Enjoy chance to balance work and personal life

Get personal satisfaction from being a business owner

High-energy people who enjoy handling every detail of their own business

Jugglers – high energy, high risk people who like the chance a small business gives them to handle everything themselves, they feel independent

Steps of starting a new business (1- come up with the new business idea)

1- come up with the new business idea

2 – choose the form of ownership

The 3 basic choices are proprietorship, partnership, or corporation

Sole proprietorship – a business owned and managed by one individual.

Partnership – two or more people who co-own a business for the purpose of making profits.

Corporation – a legal entity created by the state and existing apart of its owners.

3 – write the business plan

Business plan includes strategic plan

Strategic plan is a document that is primarily intended to be used internally by the organization, to guide itself.

Document specifying the business details prepared by an entrepreneur prior to opening a new business

Clear vision

Realistic financial projections

Target market

Industry and competitors

Management team

Critical risks that could threaten success

4 - determine sources of financing

The financing decision usually involves two options – whether to obtain loan that must be repaid (debt financing) or whether to share ownership (equity financing)

debt financing – borrowing money that has to be repaid at a later dante inn order to start a business

equity financing – any money invested by owners or by those who purchase stock in a corporation

Stages of growth (1-start up, 2- survival, …)

2539365210141. Start-up: in this stage, the main problems are producing the product or service and obtaining customers.

Can we get enough customers?

Will we survive?

Do we have enough money?

2. Survival: the business has demonstrated that it is a workable business entity. It’s producing a product or service and has sufficient customers.

3. Success: the company is solidly based and profitable.

4. Takeoff: problems here: how to grow rapidly and finance growth, how to maintain the advantages of “smallness” as the company grows

5. Resource Maturity: the company has made substantial financial gains, but it may start to loose the advantages of small size, including flexibility and the entrepreneurial spirit.

Stages of growth for an entrepreneurial company.

Compare the three levels of goals and plans.

A goal is a desired future state that the organization attempts to realize.

A plan is a set of actions a company will take to achieve this goal

Goals at each level of the organization guide the organization. There are different levels of planning and goals in an organization:

Strategic Goals - goals that define what the whole company wants to achieve.

Tactical Goals – goals that should be achieved by major divisions and departments in order to attain strategic goal.

Operational Goals – goals that should be achieved by departments, work groups, and individuals. These goals must be precise and measurable.

These goals are associated with specific time horizons. The time horizons are long term, intermediate term, and short term. Long-term planning includes strategic goals and may extend as far as 5 years and more into the future. Intermediate-term planning includes tactical goals and has a time horizon of 1-2 years. Short-term planning includes operational goals for specific departments and individuals and has time horizon of 1 year and less.

Compare and contrast the three levels of strategy in an organization.

Corporate-level strategy focuses on the organization as a whole. Corporate strategy determines the direction that the organization is going and the roles that each business unit in the organization will plan in pursuing that direction.

Business-level strategy focuses on each business or product line. For a small organization in only one line of business or the large organization that has not diversified into different products or markets, the business strategy typically overlaps with the organization’s corporate strategy. For organizations with multiple businesses, however, each division will have its own strategy that defines the products or services it will offer and the customers it wants to reach.

Functional-level strategy focuses on major functional departments within a business unit. For organizations that have traditional functional departments such as manufacturing, marketing, human resources, research and development, and finance, these strategies need to support the business strategy.

Compare decision conditions of certainty, risk, uncertainty and ambiguity.

Programmed and nonprogrammed decisions differ because of uncertainty

Certainty: the information needed is available

Risk: the future outcome is subject to chance regardless of the information available

Uncertainty: information about future events are incomplete

Ambiguity and Conflict: the goals and/or problem are unclear and difficult to define

Briefly define the characteristics of an effective goal.

Specific and Measurable - trying to "do your best" or "do better" is like trying to eat the hole in a donut. There's nothing there to chew on or digest. You need to define some very specific, concrete, and measurable action-steps that tell you what your goal looks like in real-life terms. Include how you will measure your results so you can tell whether you are getting anywhere.

Defined time period - goals should specify the time period over which they will be achieved. Goals need to come with deadlines, due dates, and payoff schedules.

Cover key results areas – goals cannot be set for every aspect of employee behavior or organizational performance. Instead, managers should identify a few key result areas, perhaps up to four or five for any organizational department or job.

Challenging but realistic - Your goals should be realistic and suited to your present capabilities. When goals are unrealistic they set employees for failure and decrease employee performance.

Linked to rewards – the achievement of goals depends on the extent to which employees are rewarded with salary increases, promotions, and awards. People who attain goals should be rewarded.

List and define the four major activities that must occur in order for management by objectives (MBO) to succeed.

1. Set goals: This is the most difficult step in MBO. Setting goals involves employees at all levels and looks beyond day to day activities to answer the question what are we trying to accomplish? A good plan should be concrete and realistic, provide a specific target and time frame and assign responsibility. Goals may be quantitative or qualitative. Quantitative goals are described in numerical terms such as salesperson Jones will obtain 16 new accounts in December. Qualitative goals use statements such as Marketing will reduce complaints by improving customer service next year. Goals should be jointly derived. Mutual agreements between employees and supervisors creates the strongest commitment to achieving goals. In the case of teams, all team members may participate in setting goals.2. Develop action plans: An action plan defines the course of action needed to achieve the stated goals. Action plans are made for both individuals and departments.3. Review progress: A periodic progress review is important to ensure that action plans are working. These reviews can occur informally between the managers and subordinates where the organization may wish to conduct three, six, or nine month’s reviews during the year. This periodic check-up allows managers and employees to see whether they are on target or whether corrective action is necessary. Managers and employees should not be locked into predefined behavior and must be willing to take whatever steps are necessary to produce meaningful results. The point of MBO is to achieve goals. The action plan can be changed whenever goals are not being met.4. Appraise overall performance: The final step in MBO is to carefully evaluate whether annual goals have been achieved for both individuals and departments. Success or failure to achieve goals can become part of the performance appraisal system and the designation of salary increase and other rewards. The appraisal of departmental and overall corporate performance shapes goals for the next year The MBO cycle repeats itself on an annual basis.

Three grand strategies for domestic operations.

Grand strategy is the general plan of major action by which a firm intends to achieve its long-term goals. Types of grand strategies:

Growth can be promoted internally by investing in expansion or externally by acquiring additional business divisions. Internal growth can include development of new or changed product. External growth typically involves diversification, which means the acquisition of businesses that are related to current product lines or that take the corporation into new areas. The number of companies choosing to grow through mergers and acquisitions is astounding, as organizations strive to acquire the size and resources to compete on a global scale, to invest in new technology, and to control distribution channels and guarantee access to markets

Stability sometimes called a pause strategy, means that the organization wants to remain the same size or grow slowly and in a controlled fashion.

Retrenchment means that the organization goes through a period of forced decline by either shrinking current business units or selling off or liquidating entire businesses. The organization may have experienced a precipitous drop in demand for its products or services, prompting managers to order across-the-board cuts in personnel and expenditures.

Compare and contrast the three levels of strategy in an organization.

Question similar to 26

Corporate-level strategy focuses on the organization as a whole. Corporate strategy determines the direction that the organization is going and the roles that each business unit in the organization will plan in pursuing that direction.

Business-level strategy focuses on each business or product line. For a small organization in only one line of business or the large organization that has not diversified into different products or markets, the business strategy typically overlaps with the organization’s corporate strategy. For organizations with multiple businesses, however, each division will have its own strategy that defines the products or services it will offer and the customers it wants to reach.

Functional-level strategy focuses on major functional departments within a business unit. For organizations that have traditional functional departments such as manufacturing, marketing, human resources, research and development, and finance, these strategies need to support the business strategy.

Decision conditions of certainty, risk, uncertainty and ambiguity.

Programmed and nonprogrammed decisions differ because of uncertainty

Certainty: the information needed is available

Risk: the future outcome is subject to chance regardless of the information available

Uncertainty: information about future events are incomplete

Ambiguity and Conflict: the goals and/or problem are unclear and difficult to define

Briefly describe the assumptions underlying the classical model of decision making.

-38104445 The classical model of decision making is based on four assumptions. First, the decision-maker attempts to accomplish goals that are known and agreed upon. In addition, problems are specified and defined precisely. Second, the decision-maker attempts to gather complete information, going for a condition of certainty. Third, the criteria for evaluating the alternatives are known and the decision-maker will select the alternative that maximizes the economic return to the organization. Fourth, the decision-maker is rational and relies upon logic to make sense of the information available.

Hierarchy of goals and plans in the organization and explain each of them.

A goal is a desired future state that the organization attempts to realize

A plan is a blueprint for goal achievement

Types of Goals and Plans

Strategic Goals – official goals, broad statements about the organization

53340-3810Define the action steps the company intends to attain

The blueprint that defines activities

Tactical Goals – help execute major strategic plans

Specific part of the company’s strategy

Plans of the divisions and departments

Operational Goals – results expected from departments, work groups, and individuals

Lower levels of the organization

Specific action steps

One way to look at planning is as a hierarchy of the components of a plan.

Vision: Where the unit wants to be or how it wants to be viewed at some point in the future

Mission: Why the organization exists, what services or products it provides

Values: What is important to the organization at its core

Goals: Specific accomplishments that will indicate the unit is moving toward its vision

Strategies: Specific approaches to achieve each accomplishment or goal

Processes and Actions: What must actually be done on a day to day basis to implement a strategy

Measures of Performance: Quantitative or qualitative data that will indicate how close a unit has come to accomplishing a goal

Planning approaches.

Manager use strategic, tactical, operational goals to direct employees and resources toward achieving specific outcomes that enable the org. to perform effectively and efficiently.

1. MBO is a planning approach in which employees actively participate in setting goals that are tangible,verifiable,measurable. MBO assures that all employees and work groups set goals that are in alignment with achieving the organization’s goals

2. single-use plans-plans that are developed to achieve such goals that are not likely tobe repeated in the future,typically include programs and projects. Examples: building new office, renovating the office, converting all paper files to digital, setting up a company intranet.

3. standing plans-ongoing plans that are used to provide guidance for tasks performaed repeatedly within the org. Standing plans include organizational policies, rules, and procedures. They generally focus on such matters as employee illness, absences, discipline, hiring, and dismissal.

4. contingency plans –plans that define company responses to specific situations and unpredictable events. To develop contingency plans managers must identify important factors in the environment, such as possible economic downturns, declining markets, increases in cost of supplies, new technological developments, or safety accidents. Managers then forecast a range of alternative responses to the most likely high impact contingencies, focusing on the worst case. Example: if sales fall 20% what will the company do? If market prices drop 8%, what will company do? What the company will do if country’s economic growth slowed by % a year?

Strategic management and strategic management process.

Strategic management – a process of formulating and implementing strategies within an organization that determine the long-run performance of a corporation. It’s a process of identifying the organization’s mission, vision and objectives, developing and implementing policies and plans which are designed to achieve these objectives. Strategic management process begins when the executives evaluate their current position with respect to mission, goals, and strategies. Then, they scan the organization’s internal and external environments and identify strategic factors that might require change, they make SWOT analysis. Then the 3-rd stage is strategy formulation that include assessing the external environment and internal problems and integrating results into goals and strategy. The final stage in the strategic management process is implementation of the new strategy.

SWOT analysis Assessment of internal and external factors.

Organizational strengths, weaknesses, opportunities, and threats

Reports

Budgets

Financial ratios

Employee Surveys

External information about opportunities and threats

Customers

Government reports

Professional journals

Bankers

Consultants

– Association meetings

Internal factors Strenths – positiveWeaknesses-negative

External factors Opportunities-positiveThreats-negative

Porter’s competitive strategies.

Porter suggests that a company can adopt one of three strategies after analyzing the forces.

Decision making, programmed vs. nonprogrammed decisions with examples.

Decision making is the process of identifying problems and opportunities and then resolving them.

Programmed Decisions – situations that occur often to enable rules. Examples: For example, in an emergency, most people automatically decide to call 9-1-1. Deciding to reorder office supplies.

Nonprogrammed – situations that are unique or poorly defined and unstructured. Examples:

An individual may make an unprogrammed decision when she visits a new restaurant, is unfamiliar with the menu and the menu is in a language she does not understand. In the business world, the makers of the earliest personal computers had to make unprogrammed decisions regarding the type of marketing to use to attract customers who possibly had never used a computer in the past. Fast-food companies also had to make an unprogrammed decision regarding consumer concerns about high fat contents and lack of healthy menu options.

Decision making steps

Decision making is the process of identifying problems and opportunities and then resolving them

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Recognition of Decision Requirement – identify problem or opportunity

When a problem or opportunity is presented, decisions must be made

Problem – occurs when organizational accomplishment is less than established goals

Opportunity – when managers see potential accomplishment that exceeds specified current goals

Diagnosis and Analysis – analyze underlying causal factors. Managers must understand the situation—diagnosis Managers ask a series of questions:

What is the state of disequilibrium affecting us?

When did it occur?

Where did it occur?

How did it occur?

To whom did it occur?

What is the urgency of the problem?

What is the interconnectedness of events?

What result came from which activity?

Develop Alternatives – define feasible alternatives

Generate possible alternative solutions

For programmed decisions, feasible alternatives are easy to identify

Nonprogrammed decisions, however require developing new courses of action

Selection of Desired Alternative – alternative with most desirable outcome

Managers will choose the most promising of several alternative courses of action

The selection should fit the goals and objectives

The manager tries to select the choice with the least amount of risk and uncertainty

Implementation of Chosen Alternative – use of management persuasive abilities to execute

Use managerial, administrative and persuasive abilities to ensure that the alternative is carried out

Success depends on the managers ability to translate alternative into action

Implementation requires communication, motivation, and leadership

Evaluation and Feedback – gather information about effectiveness

How well was the alternative implemented?

Was the alternative successful?

Feedback is a continuous process

Large problems may involve several alternatives in sequence

Personal decision styles. Level 2

Personal decision framework- How individuals personally proceed through the decision making process

Directive style – people who prefer simple, clear-cut solutions to problems

Analytic style – managers prefer complex solutions based on a lot of data

Conceptual style – managers like a broad amount of information

Behavioral style – managers with a deep concern for others

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Types of participation groups.

There are 3 types of participation groups: interactive groups, nominal groups, and Delphi groups.

1. Interactive group – technique in which group members are brought together face-to-face and have a specific agenda and decision goals. A group leader states the problem and asks each member to express his opinion. Discussion is unorganized. Alternatives are generated and evaluated. Eventually, participants will vote and choose the best alternative.

2. nominal group – technique that was developed to ensure that every group participant has equal input in the decision-making process. Nominal group technique is used because some participants in interactive groups may talk more and dominate. This group technique includes:

Each participants write down his ideas on a piece of paper, which represent suggestions for a suggestions for a solution of the particular problem;

Each member writes his ideas on the board, no discussion occurs until every person’s ideas are written down;

After all ideas have been presented, an open discussion starts with evaluation of ideas;

After the discussion a secret ballot is taken in which each group member votes preferred solutions; the adopted decision is the one that receives the most votes.

3. Delphi group technique that involves the circulation of the questionnaires on the selected problem among participants. Unlike interactive and nominal groups, Delphi participants do not meet face-to-face - in fact, they never see one another. The process of sending out questionnaires continues until a consensus is reached.

Advantages

Disadvantages

1. Broader problem definition and analysis

1. Time-consuming, waste of resources if used for programmed decisions

2. More alternatives can be evaluated

2. Compromise solutions may satisfy no one

3. Discussion reduces uncertainty about alternatives

3. Groupthink reduces opinion diversity

4- Participants of the decision making process tend to facilitate implementation

4. No clear focus for decision responsibility

Departmentalization and types of departmentalization. Level 3

Departmentalization basis for grouping positions into departments

Choices regarding chain of command

Five traditional approaches:

Functional

Divisional

Matrix

Innovative approaches:

Teams

Virtual Networks

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1.Functional - rouping into departments based on skills, expertise, work activities and resource use

Departmentalized by organizational resources

Accounting

Human resources

Engineering

Manufacturing

2.Divisional - Departments are grouped based on outputs

Product structure, program structure, self-contained unit structure

Many large corporations have multiple divisions for different business lines

Organizations may assign division responsibility by geographic region or customer group

3. Matrix departmentalization Combines aspects of both functional and divisional structures simultaneously

Improves coordination and information sharing

A key challenge is the dual lines of authority

Employees report to two supervisors

4. Team departmentalization

Teamwork is a growing trend

Teams allow organizations to delegate authority

Become flexible and competitive in global environment

Organizations may use cross-functional and/or permanent team strategies

-3810110490Network departmentalization

Extending the boundaries of collaboration beyond the organization

- Subcontracting functions to other companies

- Coordinate activities

Interconnected groups of companies

- Partnerships and collaborations

Direct investing means that the company is involved in managing the productive assets in a foreign country. There are three options for direct investing. Name and compare these three options.

Direct investing - an entry strategy in which a company is directly involved in managing its productive assets in a foreign country. There are three forms of direct investment:

Joint venture involves a strategic alliance or a program by two or more organizations. In joint venture a company shares costs and risks with another firm in the host country to develop new products, build a manufacturing plant, or set up distribution network. Joint venture is also called partnership

Acquisition of a foreign affiliate occurs when a company buys affiliate from another company in a foreign country. Direct acquisition of an affiliate may provide cost saving over exporting by shortening distribution channels and reducing storage and transportation costs.

Greenfield Venture occurs when a company builds a subsidiary from scratch in a foreign country.

Stages of moral development.

Preconventional level managers are mostly concerned with themselves, they blindly follow the rules to avoid punishment, and they act in their own interest in order to get rewards. Important thing for managers here is just task accomplishment

Conventional level managers try to satisfy expectations of other people; they want to seem good to others. If their colleagues, family, friends, and society think that such of behavior is good, they behave in that way. Here it is important group cooperation.

Postconventional level managers are guided by their internal values and beliefs, and they disobey rules and laws that violate their interests. They will act in ethical way regardless of expectations from others inside and outside the organization.

List and define the criteria of corporate social responsibility.

Corporate Social Responsibility (CSR) is the obligation of organization management to make decisions and take actions that will enhance the welfare and interests of society as well as the organization

Economic Responsibility: the first criterion of social responsibility. The business institution is the basic economic unit of society. Its responsibility is to produce goods and services that society wants and generate profits for owners and shareholders. ER is called the profit-maximizing view.

Legal responsibility: all modern societies have rules, laws, and regulations that businesses are expected to follow. Legal responsibility defines what society believes important with respect to appropriate corporate behavior. Businesses are expected to fulfill their economic goals with the legal framework. Organizations that knowingly break the law are poop performers in this society. Internationally manufacturing defective goods or billing a client for work done is illegal.

Ethical responsibility: it includes behaviors that are not necessarily codified into law and may not serve the corporation’s direct economic interests. To be ethical, organization decision makers should act with equally, fairness, and impartiality, respect the rights of individuals, and provide different treatment of individuals. Unethical behavior occurs when decisions enable an individual or company to gain at the expense of other people or society as a whole.

Discretionary Responsibility: is purely voluntary and is guided by a company’s desire to make social contributions not mandated by economics, law, or ethics. Include generous contributions that offer no payback to the company and are not expected, for ex, charity and sponsorship. Is the highest criterion of social responsibility, bcs it goes beyond social expectations to contribute to the community’s welfare.

The difference between the suppliers of debt and equity financing.

debt financing – borrowing money that has to be repaid at a later dante inn order to start a business. Usually entrepreneurs borrow from family, friends, and banks. Sometimes they can obtain money from a finance company, wealthy individuals, or potential customers. Debt financing means borrowing money and not giving up ownership. Debt financing often comes with strict conditions or covenants in addition to having to pay interest and principal at specified dates. Failure to meet the debt requirements will result in severe consequences.. Adding too much debt will increase the company's future cost of borrowing money and it adds risk for the company.

equity financing – any money invested by owners or by those who purchase stock in a corporation. If you are going to establish a corporation or at least partnership you can raise funds through selling your company’s stocks. Equity financing often means issuing additional shares of common stock to an investor. With more shares of common stock issued and outstanding, the previous stockholders' percentage of ownership decreases.

A corporation and briefly discuss the primary advantages and disadvantages of forming a corporation.

Corporation = artificial entity created by the state and existing apart from its owners.

Advantages

Generally, a corporation's shareholders are not liable for any debts incurred or judgments handed down against the corporation. Shareholders only risk their equity in the corporation.

Corporations may be able raise additional funds by selling shares in the corporation.

Corporations may deduct the cost of benefits it provides to employees and officers.

Some corporations may be able to elect treatment as an S corporation, which exempts them from federal income tax other than tax on certain capital gains and passive income.

Disadvantages

Forming a corporation requires more time and money than forming other business structures.

Governmental agencies monitor corporations, which may result in added paperwork.

Corporate profits may be subject to higher overall taxes since the government taxes profits at the corporate level and again at the individual level, if such profits are distributed to the shareholders. Furthermore, a corporation may not deduce from its business income any dividends it pays to its shareholders.

The fundamental difference between the suppliers of debt and equity financing.

Debt financing means borrowing money and not giving up ownership. Debt financing often comes with strict conditions or covenants in addition to having to pay interest and principal at specified dates. Failure to meet the debt requirements will result in severe consequences.. Adding too much debt will increase the company's future cost of borrowing money and it adds risk for the company.

Equity financing often means issuing additional shares of common stock to an investor. With more shares of common stock issued and outstanding, the previous stockholders' percentage of ownership decreases.

Explain the relationships between strategic goals and three types of organization structure: functional, matrix, and team.

Several competitive strategies that a business can adopt: differentiation and cost leadership. With a differentiation strategy, the organization attempts to develop innovative products unique to the market. With a cost leadership strategy, the organization strives for internal efficiency. The strategies of cost leadership versus differentiation require different organizational structures, so managers must pick strategies and structures that go well together.

Figure 1.2 shows how structures should be matched with strategic goals. The pure functional structure is appropriate for achieving internal efficiency goals. The functional structure uses task specialization and a strict chain of command to gain efficient use of scarce resources, but it does not enable to be flexible or innovative. In contrast, team structure is appropriate when the primary goal is innovation and flexibility. Each team is small, is able to be responsive, and has the people and resources necessary for performing its task. The flexible team structure enables organizations to differentiate themselves and respond quickly to environmental changes but at the expense of efficient resource use. The functional structure with cross-functional teams and project managers provides greater coordination and flexibility than the pure functional structure. The divisional structure promotes differentiation because each division can focus on specific products or customers, although divisions tend to be larger and less flexible than small teams.

Name and briefly describe five alternatives for training.

Training is one of the most frequently used approaches to changing people’s mindsets. Many methods of training are available- each has certain advantages and disadvantages. Here we list the different methods of training...you can comment on the pros and cons and make the examples concrete by imagining how they could be applied in training truck drivers.

Blended Learning

Individual

Group

Dynamic

Case Studies in Groups

Role Play

Business Simulation

Exercises for Individuals

Facilitated group discussion

Literature

Presentation

Coaching

Group work with indiv. presentation

Blended Learning

Individual

Group

Dynamic

Case Studies in Groups

Role Play

Business Simulation

Exercises for Individuals

Facilitated group discussion

Literature

Presentation

Coaching

Group work with indiv. presentation

1. Technology-Based Learning

Common methods of learning via technology include:

Basic PC-based programs

Interactive multimedia - using a PC-based CD-ROM

Interactive video - using a computer in conjunction with a VCR

Web-based training programs

The forms of training with technology are almost unlimited. A trainer also gets more of the learner''s involvement than in any other environment and trainees have the benefit of learning at their own pace.

Example: In the trucking industry one can imagine interactive multimedia training on tractor-trailers followed by a proficiency test to see how well the employee knows the truck.

2. Simulators

Simulators are used to imitate real work experiences.

Most simulators are very expensive but for certain jobs, like learning to fly a 747, they are indispensable. Astronauts also train extensively using simulators to imitate the challenges and micro-gravity experienced on a space mission. The military also uses video games (similar to the "shoot-em-up" ones your 14-year old plays) to train soldiers.

Example: Truck drivers could use simulators to practice responding to dangerous driving situations.

3. On-The-Job Training

Jumping right into work from day one can sometimes be the most effective type of training.

Here are a few examples of on-the-job training:

Read the manual - a rather boring, but thorough way of gaining knowledge of about a task.

A combination of observation, explanation and practice.

Trainers go through the job description to explain duties and answer questions.

Use the intranet so trainees can post questions concerning their jobs and experts within the company can answer them.

On-the-job training gives employees motivation to start the job. Some reports indicate that people learn more efficiently if they learn hands-on, rather than listening to an instructor. However, this method might not be for everyone, as it could be very stressful.

Example: New trucking employees could ride with experienced drivers. They could ask questions about truck weigh stations, proper highway speeds, picking up hitchhikers, or any other issues that may arise.

4. Coaching/Mentoring

Coaching/mentoring gives employees a chance to receive training one-on-one from an experienced professional. This usually takes place after another more formal process has taken place to expand on what trainees have already learned.

Here are three examples of coaching/mentoring:

Hire professional coaches for managers (see our HR.com article on Understanding Executive Coaching)

Set up a formal mentoring program between senior and junior managers

Implement less formal coaching/mentoring to encourage the more experienced employees to coach the less experienced.

Coaching/mentoring gives trainees the chance to ask questions and receive thorough and honest answers - something they might not receive in a classroom with a group of people.

Example: Again, truck drivers could gain valuable knowledge from more experienced drivers using this method.

5. Lectures

Lectures usually take place in a classroom-format.

It seems the only advantage to a lecture is the ability to get a huge amount of information to a lot of people in a short amount of time. It has been said to be the least effective of all training methods. In many cases, lectures contain no form of interaction from the trainer to the trainee and can be quite boring. Studies show that people only retain 20 percent of what they are taught in a lecture.

Example: Truck drivers could receive lectures on issues such as company policies and safety.

6. Group Discussions & Tutorials

These most likely take place in a classroom where a group of people discuss issues.

For example, if an unfamiliar program is to be implemented, a group discussion on the new program would allow employees to ask questions and provide ideas on how the program would work best.

A better form of training than lectures, it allows all trainees to discuss issues concerning the new program. It also enables every attendee to voice different ideas and bounce them off one another.

Example: Truck drivers could have group discussions and tutorials on safety issues they face on the road. This is a good way to gain feedback and suggestions from other drivers.

7. Role Playing

Role playing allows employees to act out issues that could occur in the workplace. Key skills often touched upon are negotiating and teamwork.

A role play could take place between two people simulating an issue that could arise in the workplace. This could occur with a group of people split into pairs, or whereby two people role play in front of the classroom.

Role playing can be effective in connecting theory and practice, but may not be popular with people who don´t feel comfortable performing in front of a group of people.

Example: Truck drivers could role play an issue such as a large line-up of trucks is found at the weighing station and one driver tells another that he might as well go ahead and skip the whole thing. Or role play a driver who gets pulled over by a police officer and doesn´t agree with the speeding charge.

8. Management Games

Management games simulate real-life issues faced in the workplace. They attract all types of trainees including active, practical and reflective employees.

Some examples of management games could include:

Computer simulations of business situations that managers ´play´.

Board games that simulate a business situation.

Games surrounding thought and creativity - to help managers find creative ways to solve problems in the workplace, or to implement innovative ideas.

Example: In a trucking business, managers could create games that teach truckers the impact of late deliveries, poor customer service or unsafe driving.

9. Outdoor Training

A nice break from regular classroom or computer-based training, the usual purpose of outdoor training is to develop teamwork skills.

Some examples include:

Wilderness or adventure training - participants live outdoors and engage in activities like whitewater rafting, sailing, and mountain climbing.

Low-impact programming - equipment can include simple props or a permanently installed "low ropes" course.

High-impact programming - Could include navigating a 40-foot "high ropes" course, rock climbing, or rappelling.

Outgoing and active participants may get the most out of this form of training. One risk trainers might encounter is distraction, or people who don´t like outdoor activities.

Example: As truck drivers are often on the road alone, they could participate in a nature-training course along with depot personnel to build esprit de corps.

10. Films & Videos

Films and videos can be used on their own or in conjunction with other training methods.

To be truly effective, training films and videos should be geared towards a specific objective. Only if they are produced effectively, will they keep the trainees attention. They are also effective in stimulating discussion on specific issues after the film or video is finished.

Films and videos are good training tools, but have some of the same disadvantages as a lecture - i.e., no interaction from the trainees.

A few risks to think about - showing a film or video from an outside source may not touch on issues directly affecting a specific company. Trainees may find the information very interesting but irrelevant to their position in the company.

Some trainers like to show videos as a break from another training method, i.e. as a break from a lecture instead of a coffee break.

This is not a good idea for two reasons. One: after a long lecture, trainees will usually want a break from any training material, so a training film wouldn´t be too popular. Two: using films and videos solely for the purpose of a break could get expensive.

Example: Videos for truckers could show the proper way to interact with customers or illustrate preventive maintenance techniques.

11. Case Studies

Case studies provide trainees with a chance to analyze and discuss real workplace issues. They develop analytical and problem-solving skills, and provide practical illustrations of principle or theory. They can also build a strong sense of teamwork as teams struggle together to make sense of a case.

All types of issues could be covered - i.e. how to handle a new product launch.

Example: Truck drivers could use case studies to learn what issues have been faced in the trucking industry in the past and what they could do if a similar situation were to occur.

12. Planned Reading

Basically planned reading is pre-stage preparation to more formal methods of training. Some trainees need to grasp specific issues before heading into the classroom or the team-building session.

Planned reading will provide employees with a better idea of what the issues are, giving them a chance to think of any questions beforehand.

Example: Here we may be stretching if we think that truckers are going to read through a lot of material the training department sends them.

Conclusion

Many avenues exist to train employees. The key is to match the training method to the situation. Assess each training method implemented in the organization and get feedback from trainees to see if they learned anything. Then take the results from the most popular and most effective methods to design a specific training program.

Briefly describe Maslow's hierarchy of needs theory.

Physiological needs: adequate heat, air, lunch, base salary to ensure survival.

Safety needs: needs for safe work, fringe additional benefits, job security.

Social belongingness needs: desire for good relationships with coworkers and supervisors, participation in a work group.

Status esteem needs: desire for recognition, appreciation from other, an increase in responsibility, high status.

Self-actualization needs: opportunity to grow, be creative, and acquire training for advancement.

Motivation and Herzberg’s two-factor theory. Level 2

Leadership and leadership behavior styles. Level 2

Behavioral Approaches to Leadership

Ohio State Studies

Consideration: people-oriented behavior

Initiating structure: task-behavior that directs work activities

Michigan Studies

Employee-centered leaders: focused on subordinates human needs

Job-centered leaders: meeting schedules, keeping costs low and achieving productivity

The Leadership Grid

Built on both Ohio State and Michigan Studies

Two-dimensional grid w/ five major management styles

The Leadership Grid

Briefly describe Alderfer's ERG theory.

ERG is a simplification of Maslow.

Three categories of needs:

Existence needs. The needs for physical well-being.

Relatedness needs. The needs for satisfactory relationships with others.

Growth needs. The needs that focus on the development of human potential and the desire for personal growth.

Briefly describe acquired needs theory.

Acquired Needs Theory

Need for Achievement. desire to accomplish something difficult, master complex tasks, and surpass others.

Need for Affiliation. desire to form close personal relationships, avoid conflict, and establish warm friendships.

Need for Power. desire to influence or control others.

Briefly explain expectancy theory.

Expectancy Theory

Motivation depends on individuals’ expectations about their ability to perform tasks and receive desired rewards

Focuses on the thinking process that individuals use to achieve rewards

Based on the effort, performance, and desirability of outcomes.

E to P means that putting effort into a task will lead to high performance

P to O means that successful performance of a task will lead to the desired outcome

(E-effort,P-perfomance,O-outcome)

Briefly describe the communication process and give example.

Communication is the process by which information is exchanged and understood by two or more people,usually with the intent to motivate or influence behavior.

560868238Encoding-selection of symbols with which to compose a message.

Decoding-translation of the symbols used in a message for the purpose of interpreting its meaning.

Communication and its types Level 2

Communication is the process by which information is exchanged and understood by two or more people

Nonverbal communication are messages sent through human actions and behavior

Body Language

Behavior

Appearance

Actions

Attitudes

Verbal or oral communication uses spoken words to communicate a message

Define nonverbal communication and briefly discuss its importance to communicating in organizations.

Nonverbal communication happens mostly face-to-face.

Verbal impact-7%,vocal impact-38%,and facial impact-55%.To some extent,we are all natural face readers.Major parts of the shared understanding from communication come from the nonverbal messages of gestures,voice and other things.

Explain the differences between groups and teams.

Differences Between Groups and Teams

Level 1- difficult Level 2-normal Level 3 - easy

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