MANGT 420 Exam 3

Motivation

the result of multiple personal and contextual factors

Personal factors of motivation

personality, ability, needs, values

Contextual factors of motivation

organizational culture, cross-cultural values, physical environment

Extrinsic rewards

rewards given by others (perks, benefits, money)

Intrinsic rewards

a reward given to yourself (pride in your work, personal growth, feeling of accomplishment)

Content theories

what motivates us

Maslow's hierarchy of needs

we as an individual have basic needs that need to be fulfilled

Levels of Maslow's hierarchy of needs

physiological, security/safety, belongingness, esteem, self-actualization

Alderfer's ERG theory

existence, relatedness, growth

Existence

material well-being (work environment, job layout)

Relatedness

how one relates to his/her social environment (friendship, connections)

Growth

desire for personal growth and development (opportunities)

Process theories

why and how motivation occurs

Vroom's expectancy theory

motivation depends on how much we want something and how likely we are to get it

Expectancy

the probability that effort will lead to performance

Instrumentality

the perception that performance leads to an outcome

Valence

how much a particular outcome/reward is valued

Adam's equity theory

individuals equate value of rewards to effort and compare it to other people

Reinforcement theories

how outcomes influence behaviors

Positive reinforcement

strengthens behavior by providing a desirable consequence

Negative reinforcement

strengthens behavior by allowing escape from an undesirable consequence

Punishment

weakens behavior by providing an undesirable consequence

Extinction

weakens behavior by not providing a desirable consequence

The big 5 personality dimensions

extroversion, agreeableness, conscientiousness, emotional stability, openness to experience

Extroversion

outgoing, talkative

Agreeableness

trusting, cooperative

Concientiousness

dependable, responsible

Emotional stability

relaxed, secure

Openness to experience

imaginative, curious

Locus of control

individual's belief about the extent to which their behavior affects what happens to them (external, internal)

Self-efficacy

person's belief about his/her/their capability to perform a task

Self-esteem

extent to which a person beliefs he/she/they are a worthwhile individual

Emotional intelligence

the ability to monitor your and others' feelings and to use this information to guide your thinking and actions (self-awareness, self-management, social awareness, relationship awareness)

Values

abstract ideals that guide one's thinking and behavior across all situations

Attitudes

beliefs and feelings that are directed toward specific objects, people, or events

Behavior

employee actions and judgements

3 components of attitudes

affective, cognitive, behavioral

Affective

consists of the feelings or emotions one has about a situation

Cognitive

consists of the beliefs and knowledge one has about a situation

Behavioral

how one intends or expects to behave toward a situation

Job satisfaction/dissatisfaction

attitude that reflects the extent to which an individual is gratified or fulfilled by his/her/their work

Perception

the process of interpreting and understanding one's environment

5 distortions of perception

stereotyping, implicit bias, the halo effect, the recency effect, casual attributions

Stereotyping

the tendency to attribute to an individual the characteristics one believes are typical of the group to which an individual belongs

Implicit bias

the attitudes or beliefs that affect our understanding, actions, and decisions, in an unconscious manner

The Halo Effect

an effect in which we form a positive impression of an individual based on a single trait

The Recency Effect

the tendency of people to remember recent information better than earlier information

Casual attributions

the activity of inferring causes for observed behavior

Stress

the tension people feel when they are facing or enduring extraordinary demands, constraints, or opportunities and are uncertain about their ability to handle them effectively

Sources of stress

genetic/personality characteristics, co-workers or managers, environment or culture

Employee assistance programs

programs aimed at helping employees to cope with stress, burnout, substance abuse, etc.

Holistic wellness approach

programs focusing on self-responsibility, nutrition, relaxation, and physical fitness

Organizational commitment

reflects the extent to which an employee identifies with an organization and is committed to its goals

Business ethics

involves adhering to laws, regulations, and standards related to fair employment, product safety and quality, truthful advertising, and environmental responsibility

Utilitarian approach

greatest good for the greatest number of people

Individual approach

making the best choice serves your long-term interest

Moral rights approach

guided by respect for the fundamental rights of human beings

Justice approach

guided by fairness and equity

External impact of business ethics

prevents the external stakeholders of an organization from being harmed

Internal impact of business ethics

benefits the organization internally by helping to ensure its success

Moral awareness

realizing the issue has ethical implications

Moral judgement

knowing what actions are morally defensible

Moral character

having the strength and persistence to act in accordance with your ethics despite the challenge

Sarbanes-Oxley Act

requires that companies listed or applying to be listed on a public stock exchange establish and enforce a code of ethics

Whistleblower protection

an employee who reports wrongdoing

Corporate social responsibility (CSR)

social and environmental concerns are integrated into a company’s operations and culture

Main categories of CSR

environmental responsibility, philanthropy, ethical labor practices, volunteerism

Triple bottom line

People, profit, planet

Global village

the “shrinking” time and space as air travel and the electronic media have made it easier for people to get around the globe to communicate

Globalization

the trend of the world economy toward becoming a more interdependent system

Political environment conditions

government stability, international trade incentives, international trade controls, economic communities

Cultural environment conditions

values, symbols, languages, beliefs

Economic environment conditions

resource allocation processes, property ownership, natural resources, infrastructure

Multinational organization

a nonprofit organization with operations in several countries

Multinational corporation

a business firm with operations in several countries

Ethnocentric managers

believe their native country culture, language, and behavior are superior to all others

Polycentric managers

believe native managers in the foreign offices best understand native personnel and practices

Geocentric managers

accept there are differences and similarities between home and foreign personnel and practices and use whatever techniques are most effective

Why companies expand internationally

availability of supplies, new markets, lower labor costs, access to financial capital, avoidance of tariffs & import quotas

Global outsourcing

using suppliers outside of the US to provide labor, goods, and services

Importing

companies buy goods outside the US and sells them domestically

Exporting

companies produce goods domestically and sells them outside the country

Counter trading

bartering goods for goods

Licensing

a company allows a foreign company to pay it a fee to make or distribute the first company's product or service

Franchising

a form of licensing in which a company allows a foreign company to pay it a fee and a share of the profit in return for using the first company’s brand name and a package of materials and services

Joint ventures (strategic alliances)

two organizations that have joined forces to realize strategic advantages that neither would have if working alone

Wholly owned subsidiaries

foreign subsidiary that is totally owned and controlled by an organization

Greenfield venture

foreign subsidiary that the owning organization has built from scratch

Tariffs

trade barrier in the form of customers duty, or tax, levied mainly on imported goods

Import quotas

trade barrier in the form of a limit on the numbers of a product that can be imported

Sanction

trade prohibition on certain types of products, services, or tech to another country

Embargo

complete ban of trade of one country with another so that no goods or services can be imported or exported to/from the embargoed nation

Low-context culture

shared meanings are primarily derived from written and spoken words

High-context culture

people rely heavily on situational cues for meaning when communicating with others, relying on nonverbal cues as to another person’s official position, status, or family connections

Hofstede’s Model of Four Cultural Dimensions

identifies four dimensions along which national cultures can be placed

Individualism/collectivism

indicates how much people prefer a loosely knit social framework in which people are expected to take care of themselves or a tightly knit social framework in which people and organizations are expected to look after each other

Power distance

refers to the degree to which people accept inequality in social situations

Uncertainty avoidance

expresses people’s intolerance for uncertainty and risk

Masculinity/femininity

expresses how much people value performance-oriented traits or how much they embrace relationship-oriented traits

3 components of attitude