business unit 3 exam

Management styles

attitude of a manager making decisions or communicating with employees

autocratic

one way communication, centralised decision making

advantages of autocratic

decisions are made quickly, communication is clear

disadvantage of autocratic

less ideas due to no employee input, employees feel undervalued, reduce creativity

persausive

centralised decision making, one way communication

advantages of persausive

decisions made relatively quick, can help understanding of employees

disadvantages of persausive

smaller pool of ideas, employees can feel manipulated

consultative

centralised decision making, 2 way communication

advantages of consultative

more informed decisions, more ideas, employees feel more valued

disadvantages of consultative

time consuming, ideas may be overlooked

participatve

decentralised decision making, 2 way communicaton

advantages of participative

employees have a sense of ownership, improved employee morale, more ideas

disadvantages of participative

time consuming, disagreements

Laissez-fair

decentralised decision making, employees have power over their own decisions

advantages of laissez-fair

more creativity, improved motivation

disadvantages of laissez-fair

lack of direction, poor performance if employees are not skilled

management skills

skills used by management to complete business objectives

communication

transfer of information from one person to another

delegation

manager passes on authority to employees to complete tasks

benefits of delegation

frees up time for manager as workload is shared, employee feels valued, employee develops new skills

delegation and efficiency

improves efficiency as more work can be completed

planning

strategic - long term planning 3-5 years, tatical - medium term 1-2 years, operational - short term planning, daily weekly or monthly

leadership

the ability of the manager to motivate others towards the achievement of business objectives

benefits of leadership

builds trust, support others when times are tough

decision making

Choosing the best course of action from a range of alternatives

interpersonal

the ability of a manager to interact with others and build relationships

relationship between skills and styles

1 or 2 way communication and centralised or decentralised decision making

HR management and business objectives

HR aims to get the best out of employees and perform to highest level this leads to achievement of business objectives

motivation

the drive a person has to work towards the achievement of something

performance related pay

employees salary or bonus is linked to performace, includes pay rise, bonus, commission

career advancement

employees have the ability to take on greater responsibilties through promotion

career advancement and motivation

motivated to perform well, retain quality employees

investment in training and motivation

employees feel valued, constant improvement leads to more motivation

support

support shows employees that they are valued and have a place, improving motivation

sanction

sets expectations, motivates employees through fear

advantages of performance related pay

attract high quality employees, determinded to be the best

disadvantages of performance related pay

expensive for business, cause disgreements within the business

performance related pay short term motivation

employees are driven to work hard and be paid more in the short term, encourage effort

performance related pay long term motivation

lose impact as employees may become motivated by other things, employees can become comfortable with their wage

career advancement advantages

attract and retain quality employees, motivation from seeing colleagues promoted

career advancement disadvantages

difficult for all employees, limited opportunites cause employees to leave

career advancement short term motivation

driven to work hard as they know they can recieve promotions, feel valued and trusted by the business

career advancement long term motivation

strive to climb the ladder, increased loyalty and commitment

investment in training advantages

quality of work is improved, retain quality employees, employees feel valued

investment in training disadvantages

expensive and time consuming, difficult to measure the roi, if employees leave skills will be taken to competitors

investment in training short term motivation

excited to use new skills, improved self esteem, feel valued and trusted

investment in training long term motivation

on going improvement maintains motivation, offers more opportunites

support advantages

creates postive environment, improves wellbeing

support disadvantages

hard to provide to all employees, costly and time consuming

support short term motivation

employees wellbeing is improved and motivated to work, encourages effort, reduce stress levels

support long term motivation

employees feel valued and supported increased loyalty, increased commitment

sanction advantages

deter negative behaviour, creates sense of accountabilty, change behaviours quickly

sanction disadvantages

may create culture around fear, can create negative environment

sanction short term motivation

creates a sense of fear forcing employees to follow policies, motivates other employees to not get sanctioned

sanction long term motivation

can create negative environment, employees may feel resentful, employees may not feel valued

management by objectives (MBO)

mbo is where managers and employees agree on a set of goals for the employeer

advantages of mbo

gain commitment from employees, clear expectations, work aligns with business objectives

disadvantages of mbo

time consuming, can be challenging, failing to meet objectives can harm esteem

peformance apprasial

formal evaluation every 6-12 months on how an employee is peforming in their role

peformance apprasial advantage

provides feedback to employees, identifies employees in need of promotion

peformance apprasial disadvantage

time consuming, subjective and highly stressful

self evaluation advantages

encourages employees to take ownership, identify areas to improve, enables more meaningful feedback

self evaluation disadvantages

may be dishonest, employees may not have the ability to do it, requires on going documentation

employee observation advantages

view emplpyees in action, 360 degree feedback can broaden the range of feedback, identifies strengths and weakenesses

employee observation disadvantages

maybe deemed intrusive, cause anxiety, may not be accurate, requires time and resources if using 360 degree feedback

retirement entitlements

annual leave and long service leave, pay for work completed, superannuation

retirement transition

counselling, financial advice or farewell

workplace relations

interaction between the employer and employees in regards to work

HR involvement in workplace relations

training, recruitment and employee motivation

fair work commission (fwc)

independent workplace relations tribunal responsible for regulating the system

minimum wage and national employment standards

set by the fwc, employees cannot recieve below these standards

award

minimum wage and conditions for an industry set by fwc

award advantage

cheaper for business, no time wasted, fewer disputes

award disadvantage

limited talent if award is used, less flexibility, may need multiple awards

enterprise agreement

an agreement between employees and their employers on the wages and conditions of employment

enterprise agreement advantages

high flexibility, attract and retain high quality employees, improves motivation

enterprise agreement disadvantages

time consuming, more disputes, expensive