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FSU MAN 3025 - Exam 3 Notes

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MAN3025 Exam 3 NotesChapter 91. You want to motivate people to:a. Join your organizationb. Stay with your organizationc. Show up for work at your organizationd. Be engaged while at your organizatione. Do extra for your organization2. Motivation cyclea. Unfulfilled needb. Motivationc. Behaviorsd. Rewardse. Feedback (repeat)3. Extrinsic vs. intrinsic rewardsa. Extrinsic rewards – payoff a person receives from others for performing a taskb. Intrinsic rewards – satisfaction a person receives from performing the taskc. Intrinsic is better in the long run for the overall organization4. Content perspectives – theories that emphasize the needs that motivate peoplea. Hierarchy of needs (motivate from the bottom up)i. Physiologicalii. Safetyiii. Loveiv. Esteemv. Self-actualizationb. ERG theory – three basic needs that influence behaviori. Existenceii. Relatednessiii. Growthc. Acquired needs theory – three needs determining behavior that should be balancedi. Achievementii. Affiliationiii. Powerd. Two-factor theory – first eliminate dissatisfying factors, then incorporate satisfying onesi. Hygiene factors – job dissatisfactionii. Motivating factors – job satisfactione. Equity theory – cost-benefit analysisi. My inputs vs. their inputsii. My outputs vs. their outputsiii. Equity vs. Inequityf. Expectancy theoryi. People are motivated by two things1. How much they want something2. How likely they are to get itii. Expectancy – level of effort will lead to a level of performanceiii. Instrumentality – successful performance will lead to a desired outcomeiv. Valence – the value a worker assigns to a task/outcomeg. Goal-setting theoryi. Specificii. Challengingiii. Achievableiv. Linked to action plans5. Job design – division of work among employees and application of motivational theoriesa. Simplification – jobs are broken down into simpler, easier tasksb. Enlargement – the number of tasks are increased for a particular jobc. Enrichment - giving employees a chance to decrease repetitiveness through variation6. Other ways to redesign a joba. Flex time – everyone has to work a certain amount of time, but the shift is flexibleb. Job sharing – splitting the work with another co-workerc. Telecommunicate – working from home or another location7. Job characteristicsa. Skill varietyb. Task Identityc. Task significanced. Autonomye. Feedback8. Reinforcement theorya. Positive reinforcement – use of positive consequence to encourage behaviorb. Negative reinforcement – removal of unpleasant consequence to encourage behaviorc. Punishment – application of negative consequences to stop behaviord. Extinction – withdrawal of positive rewards for a desirable behavior (bad method)9. Popular incentive compensation plansa. Piece rate – employee is paid for each unit producedb. Sales commission – extra pay that an employee receives for making a salec. Bonuses – an additional payment to an employee’s usual incomed. Profit-sharing – payments to employees based on the success of the companye. Gain-sharing – payments are based on employee involvement and participationf. Stock options – giving employees the option to trade stock at a pre-arranged priceg. Pay for knowledge – higher pay based on new skills employees learnChapter 101. Leadership – the ability to influence employees to pursue organizational goalsa. Management is about coping with complexity (planning, organizing, and controlling)b. Leadership is about coping with change (direction, aligning people, and motivating)2. Five sources of powera. Legitimate power – managers’ formal positions within the organizationb. Reward power – managers’ authority to reward subordinatesc. Coercive power – managers’ authority to punish subordinatesd. Expert power – managers’ specialized expertisee. Referent power – managers’ personal attraction3. Approaches to leadershipa. Trait – identifying distinctive characteristics that account for effectiveness of leadersi. Ex. Tasks, interpersonal, intuition, character, biophysical, and personalii. Women have more leadership traits than menb. Behavioral – attempts to determine distinctive styles used by effective leadersi. Michigan leadership model1. Job-centered – concerned with efficiency, low costs, and schedules2. Employee-centered – concerned with employee satisfactionii. Ohio State leadership model1. Initiating structure – organizing what group member should be doing2. Consideration – establishing a warm, friendly, and supportive climatec. Contingency – determines if a leader is task oriented or relationship orientedi. Situational control1. Leader-member relations2. Task structure3. Position powerd. Full-rangei. Transactional –rewarding or punishing based on performanceii. Transformational – transforms employees to pursue organizational goals1. Inspirational motivation2. Idealized influence3. Individualized consideration4. Intellectual stimulatione. Servant leaders – provide service to others to meet goals rather than to themselvesChapter 111. Four functions of planning:a. Setting goalsb. Organizingc. Leadingd. Controlling2. Productivity – outputs divided by inputs (P = O/I)3. Control processa. Establish standardsb. Measure performancec. Compare performance to standardsd. Take corrective action if necessary (repeat)4. Levels of control (STO)a. Strategic – top managementb. Tactical – middle managementc. Operational – lower management5. Six areas of controla. Physicalb. Human resourcesc. Informationald. Financiale. Structuralf. Cultural6. Balanced scoreboard – a fast, but comprehensive view of the organizationa. Customer satisfactionb. Internal processesc. Innovation and improvementd. Financial measures7. Why measure-managed firms succeeda. Agreement on a strategyb. Clear communicationc. Focusd. Teamwork8. Barriers to effective measurementa. Fuzzy objectivesb. Informal feedback systemsc. Resistant employeesd. Measuring activities instead of results9. Financial tools for controla. Budget – formal financial projectionb. Incremental – uses the last budget period as a reference pointc. Zero-based – manager must justify every budget dollar requested10. Fixed vs. variable budgetsa. Fixed budgets – resources are allocated on a single estimate of costsb. Variable budgets – resources are varied in proportion to various levels of activity11. Balanced sheet vs. income statementa. Balanced sheet – overall financial worth at a


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