84 Cards in this Set
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planning for goal alignment:
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-mission: short enough to print on a T-shirt; what's the purpose
-strategic goals
-strategic plan
-operational goals
-operational plan
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what is planning?
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a primary managerial activity that involves:
-defining the organization's goals
-establishing an overall strategy for achieving those goals
-developing plans for organizational work activities
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formal planning
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-specific goals covering a specific time period
-written and shared with organizational members
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why plan?
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-to provide direction
-to reduce waste
-to reduce risk
-to set a standard for control
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elements of planning
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-goals (AKA objectives): desired outcomes
-plans: how its is going to be accomplished
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types of goals
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-financial
-strategic
-stated vs. real
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stated goals
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official statements of what an organization says, and what it wants its various stakeholders to believe its goals are
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real goals
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goals that an organization actually pursues, as defined by the actions of its members
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strategic plans
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plans that apply to the entire organization and establish the organization's overall goals
-seek to position the organization in terms of its environment
-cover extended periods of time
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operational plans
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-plans that encompass a particular operational area of the organization
-specifically the details of how the overall goals are to be achieved
-cover a short time period
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single use plan
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a one-time plan specifically designed to meet the need of a unique situation
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standing plans
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ongoing plans that provide guidance for activities performed repeatedly; like MBO
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long-term plans
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plans w/ a time frame beyond three years
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short-term plans
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plans covering one year or less
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specific plans
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plans that are clearly defined and leave no room for interpretation
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directional plans
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plans that are flexible and set out general guidelines
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objectives
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- a firm commitment to achieve a measurable result w/in a specified period
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management by objectives
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a comprehensive management system based on measurable participatively set objectives that leverages the motivational power of objectives
-8 weeks
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types of plans:
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-balancing planned action and spontaneity in the 21st century
-command and control model
-contingency model
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types of plans:
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top down tight control of operations through exacting planning created organizational inflexibility to deal w/ unanticipated events and limited success
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contingency model
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participative planning and control balance planned action w/ creative flexibility to take advantage of unexpected opportunities and to cope with the need for change
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the planning / control cycle
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-planning sets in motion activities to accomplish the planned objectives
-control functions to direct and monitor activities for deviations from plans (attainment of objective)
-planning uses feedback form controls to improve/alter plans and implement corrective actions where necessary
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"goal issues" examples
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-too specific: gorilla
-too narrow: 2000 lbs under $2000= pinto
-too many: quality vs quantity
-inappropriate time horizon: quarterly financial = less R&D
-too challenging
-unethical behavior
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the relationship between planning and performance
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-can take time
-external environment can reduce performance
-formal planning is associated w/:
-higher profits and returns on assets
-positive financial results
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organizational mission
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a clear, formally written, and publicized statement that guides the organization by:
-defining the organization for key stakeholders
-creating an inspiring vision
-outlining how vision will be accomplished
-establishing key priorities
-stating a common goal & togetherness
-creating …
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competitive strategies
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a strategy focused on how an organization will compete in each of its SBUs (strategic business units)
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strategic management
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what managers do to develop the organization's strategies
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the strategic management process: step 1
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identify the organization's current mission, goals, and strategies
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the strategic management process: step 2
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doing an external analysis
-the environmental scanning of specific and general environments
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the strategic management process: step 3
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doing an internal analysis
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steps 2 and 3 combined are called a __ analysis
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SWOT: strengths, weaknesses, opportunities, and threats
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the strategic management process: step 4
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formulating strategies
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the strategic management process: step 5
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implementing strategies
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the strategic management process: step 6
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evaluating results
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corporate strategies
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top management's overall plan for the entire organization and its strategic business units
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types of corporate strategies
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-growth
-stability
-renewal
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types of corporate strategies: growth
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-used when an org. wants to expand the number of markets served or products offered, through current or new businesses
-concentration, vertical/ horizontal integration, 2 types of diversification
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concentration
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focuses on its primary line of business and increases the number of products offered or makets served in this primary business
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vertical integration
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-backward: org becomes its own supplier so it can control its inputs
-forward: org becomes its own distributor and is able to control its ouputs
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horizontal integration
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when a company grows by combining with competitors
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diversification
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-related: when a company combines w/ other companies in different but related industries
-unrelated: when a company combines w/ firms in different and unrelated industries
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types of corporate strategies: stability
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when market is uncertain; lay off excess, cons. approach, eliminate non critical
-when an organization continues to do what it is currently doing
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types of corporate strategies: renewal
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-address declining performance
-turn around: when an organization's problems are more serious
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BCG matrix
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a strategy tool that guides resource allocation decisions on the basis of market share and growth rate of SBUs
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SBUs
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strategic business unit
-the single independent businesses of an organization that formulate their own competitive strategies
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"we are what we repeatedly do. excellence, therefore, is not an act but a habit"-
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Aristotle
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"nothing great was ever achieved without enthusiasm" -
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Ralph Waldo Emerson
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motivation:
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the forces that energize, direct, and sustain a person's efforts
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5 areas managers must motivate
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1. join the firm
2. stay at the firm
3. come to work regularly
4. perform
5. be a good citizen- be engaged
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Maslow's Hierarchy of needs theory
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people have needs, and when one need is relatively fulfilled, other emerge in predictable sequence to take its place
-higher needs emerge as lower ones are fulfilled
-a fulfilled need does not motivate an individual
-beyond physical and safety needs, others cannot be predicted
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Herzberg's two factor theory
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-satisfied employee is motivated from within
-dissatisfied worker is not self-motivated to work
-concl: enriched jobs are key to self-motivation
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theory x
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-satisfied employee is motivated from within
-dissatisfied worker is not self-motivated to work
-concl: enriched jobs are key to self-motivation
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theory Y
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the assumption that employees dislike work, are lazy, avoid responsibility, and must be coerced to perform
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implications of Herzberg's theory
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-satisfaction is not the opposite of dissatisfaction
-think carefully about what motivates employees
-meaningful, interesting, and challenging (enriched) work is needed to satisfy and motivate employees
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problems with Herzberg's theory
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-assumption of job performance improving with satisfaction is weakly supported
-one person's dissatisfier is another person's satisfier
-size and type of sample
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hygiene factors
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factors that eliminate job dissatisfaction, but don't motivate
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motivators
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factors that increase job satisfaction and motivation
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Alderfer's ERG theory
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focused more for work environment
-E: existence-material and physiological
-R: relatedness- relationships
-G: growth- fully use and develop new capacities
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McClelland's 3 needs theory
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-there are three major acquired needs that are major motives in work
--need for achievement (nAch) : drive to excel & succeed
--need for power (nPow): influence behavior of other
--need of affiliation (nAff): desire for interpersonal relationships
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goal setting theory
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-the proposition that specific goals increase performance and that difficult goals, when accepted, result in higher performance than do easy goals
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goal setting
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the process of improving performance with objectives, deadlines, or quality standards
-MBO is an example
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characteristics of effective goals:
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-specificity makes goals measurable
-difficulty makes goals challenging
-participation gives personal ownership of the goal
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SMART goals
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microsoft uses:
-specific
-measurable
-achievable
-results-based
-time specific
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reinforcement theory
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-assumes that a desired behavior is a function of its consequences, is externally caused, and if reinforced, is likely to be repeated
-positive, negative, no punishment, extinction
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improving performance with extrinsic rewards
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-must satisfy individual needs
-cafeteria compensation plan
-employees must believe effort will lead to an attainable reward
-rewards must be personally and socially equitable
-rewards must be linked to performance (results) such that desired behaviors are encouraged
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job design
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the way into which tasks can be combined to form complete jobs
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factors influencing job design:
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-changing organizational environment/ structure
-the organization's technology
-employee's skill, abilities, and preferences
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job enlargement
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the horizontal expansion of a job by increasing job scope
-increasing tasks
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job enrichment
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-vertical expansion of a job by adding planning and evaluating responsibilities
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job enrichment theory
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-increase depth of job
-vertical loading (introducing planning and decision-making responsibility increases the challenge of work (complexity and job depth) and reverses the effects of overspecialization
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job characteristics model (JCM)
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-a conceptual framework for designing motivating jobs that create meaningful work experiences that satisfy employee's growth needs
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five primary job characteristics:
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-skill variety: how many skills and talents are needed
-task identity: does the job produce a complete work?
-task significance: how important is the job?
-autonomy: how much independence does the jointholder have?
-feedback: do workers know how well they are doing?
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equity theory
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-employee responses to perceived inequities:
-distort own or other's ratios
-induce others to change their own inputs or outcomes
-change own inputs (increase or decrease efforts) or outcomes (seek greater rewards)
-choose a diff comparison (referent) other (person, systems, or self)
…
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employees are concerned with both the ___ and __ nature of organizational rewards
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absolute and relative
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distributive justice
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the perceived fairness of the amount and allocation of rewards among individuals (ie who received what)
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procedural justice
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-the perceived fairness of the process used to determine the distribution of rewards (how who received what)
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expectancy theories (victor vroom)
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assumes motivational strength is determined by perceived probabilities of success
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3 relationships of expectancy theory
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1. effort performance linkage
2. performance reward linkage
3. attractiveness of reward
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relevance of expectancy theories for managers
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-employee expectations can be influenced by managerial actions and organizational experience
-training increases employee confidence in their efforts to perform
-listening provides managers with insights into employees' perceived performance reward probabilities
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participative management
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the process of empowering employees to assume greater control of the workplace
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two approaches to participation management
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-open book management
-self managed teams
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open book management
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a motivational approach in which an organization's financial statements (the "books") are shared will all employees
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are all countries the same?
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-japan and greece need security
-sweden, norway and denmark need social
-chinese "do your own thing"
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ways to be a good motivator:
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-ask good questions: challenging
-listen: reflective
-provide strong feedback
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MGT 305: EXAM 1