Intro to Management Final Exam Uiowa

human capital

potential of workforce, captured in their knowledge/skill/motivation

human resource management

process of attracting, developing, and keeping a qualified workforce

people centered practices

-protection of job security

-rigorous hiring process

-employee empowerment

-compensation linked to performance

-comprehensive training

-reduction of status difference

-sharing of key information

general model of HR

-desired performance

-recruitment & selection

-compensation & rewards

-performance appraisal & management

-training & development

recruitment

getting highly qualified individuals to apply; "getting the right people on the bus"

internal recruitment

the process of seeking employees who are currently within the firm to fill open positions

external recruitment

the process of seeking new employees from outside the firm

tips for recruiting

1) Use social networks of existing employees and friends. Employees won't vouch for someone that hurts reputation;

2) Use personal contact (shows how they act with you);

3) Target desired applicants (better than broach search);

4) Proofread ads

training

-guided experience to change employee behavior and/or attitudes

-only one way to help people learn

characteristics of good training

-clarify objectives

-maximize similarity between the training and the job

-convey general principles

-provide variety of examples

-provide practice and feedback

-use questions to guide attention and encourage active thought

development options

-education

-assessment and feedback

-work experience

-relationships

managers as teachers

-explain basic concepts (TELL)

-demonstrate performance (SHOW)

-solicit practice (WATCH)

-provide constructive feedback (ENCOURAGE)

-repeat as necessary

Job analysis, description, specification

-List of duties, responsibilities, and qualifications

Developed via job analysis:

-Work-centered (for job description)

-Worker-centered (for job specifications)

-Hybrid (most common)

-including many sections

unstructured interview

no fixed set of question or systematic scoring

shortcomings:

-susceptible to distortion and interviewer bias- low validity!

-open to legal attack

structured interview

a set of standardized job-related questions

questions used in these type of interviews:

-hypothetical situations (situational interviews)

-past behavior (behavioral interview)

-background

-job knowledge or job sample

-case interview

appraisal

Evaluating employee performance relative to standards.

1) Objective measures (best)

2) Subjective ratings: Graphic Rating Scale is the worst, Behavior Observation Scale (BOS) and BARS are better.

Fraught with problems... train managers to rate!

compensation

the financial and non-financial awards; job evaluation determines

decision:

-pay level (lag, meet, or lead?)

-pay variability (piecework, commission, profit sharing, ESOP, stock options or salary/hourly?)

-pay structure (hierarchical or compressed?)

EEOC (Equal employment opportunity commission)

federal agency that administers and enforces civil right laws against work place discrimination

BFOQ (Bona fide occupational qualification)

an exception in employment law that permits sex, age, religion, and the like to be used when making employment decisions, but only if they are "reasonably necessary to the normal operation of that particular business."

training objectives and methods

1) Impart information & knowledge: Films and videos, Lectures, Planned readings;

2) Develop Analytical and problem solving skills: Case studies, Coaching and mentoring, Group discussions;

3) Practice, learn, or change job behaviors: On-the-job training, Role-playing, Simulations and games, Vestibule training (real equipment)

4) ALL THREE: computer-based learning

terminating objectives and methods

-firing should not be the first option, employees should have ample warning and be given a chance to change their behavior

-if problems continue, employees should again be counseled about their job performance

-only fired for a good reason

employee turnover

the loss of employees who voluntarily choose to leave the company

functional turnover

the loss of poor-performing employees who choose to leave the company

dysfunctional turnover

loss of high-performing employees who voluntarily choose to leave the company

motivation

set of forces that initiates, directs, and makes people persist in their efforts to pursue a goal

importance of motivation

understanding yourself and others

performance equation

performance = ability x motivation

(or "can do" x "will do")

alderfer ERG needs theory

3 fundamental needs, all have varying degrees:

-existence

-relatedness

-growth

E & R are less motivating as they are met, G more motivating!

McClelland Needs Theory

Different people motivated by different needs

-affiliation

-achievement

-power

Job Characteristics Theory

A theory that argues that five core characteristics:

-variety

-identity

-significance

-autonomy

-feedback

combine to result in high levels of satisfaction with the work itself.

goals work best when...

-goals are difficult & specific

-person is committed to pursuit

-person has confidence in attainment

-feedback is provided

-task is fairly well learned

Latham and Baldes Study

showed

1) there was a drastic increase in performance once a goal was set;

2) performance was sustained seven years after goal set.

equity theory

the idea that employees try to maintain equity between inputs and outputs compared to others in similar positions

fairness theory

3 perceptions of fairness:

-distributive

-procedural

-interactive

Greenberg study

When employees feel that they are not being treated fair they will steal form you

People will be more accepting of unfair outcomes if they feel like there is lot of procedural fairness

Maslow theory

people are motivated by certain basic needs:

-physiological (food and water)

-safety (physical and economic)

-belongingness (friendship, love, social interaction)

-esteem (achievement and recognition)

-self-actualization (realizing your full potential)

reinforcement theory

theory that positive and negative reinforcers motivate a person to behave in certain ways

expectancy theory

the theory that people will be motivated to the extent to which they believe that their efforts will lead to good performance, that good performance will be rewarded, and that they will be offered attractive rewards

Each motivation theory's relevance to managers

Motivating with....

-the basics

-equity theory

-expectancy theory

-reinforcement theory

-goal-setting theory

-integrated model

leadership

inspiring, influencing, guiding others in a common effort

management

planning, organizing, controlling, and allocating resources in a common effort

-getting work done through others; concerned with efficiency and effectiveness in the work process

4 broad types of leadership theory

trait, behavioral, situational, transformational

trait theory

a leadership theory that holds that effective leaders possess a similar set of traits or characteristics

7 traits common to leaders

drive, desire to lead, honesty/integrity, self-confidence, emotional stability, cognitive abilities, knowledge of business

Behavioral Styles Theory

Based on belief that leader behavior (leadership styles), not traits, affects work-group effectiveness

2 general leadership behavioral styles

initiating structure

-job centered leadership

-concern for production

consideration

-employee centered leadership

-concern for people

logic of situational theories

-No particular leader is best in all situations

-Leaders should adapt or be matched to the situation

hersey and blanchard model

- Telling

- Selling

- Participating

- Delegating

(Situational leadership theory)

Fiedler's Contingency Theory

in order to maximize work group performance, leaders must be matched to the right leadership situation

4 components of transformational leadership

1) Idealized influence (role model)

2) Inspirational motivation (meaning)

3) Intellectual stimulation (questions)

4) Individual consideration (listens)

idealized influence

Transformational leaders act as role models for their followers, put others' needs ahead of their own. Share risks with followers

Inspirational motivation (meaning)

Motivate followers by providing inspiration and meaning for the work they do. Clearly demonstrate expectations and their commitment for meeting those expectations. Telling stories.

intellectual stimulation

Encourage followers to be inquisitive, innovative, question assumptions, suggest new ways of doing things

individual considerations

Provide one-on-one attention. Accept differences, encourage two way communication.

Barling et al. study

-When given training employees still were excelling still even after five months.

-Employees who received no training went down in performance even farther than before they started.

Main point of FastCompany Weil article on Tichy

Every leader tells a story

non-verbal behaviors, effects

non-verbal feedback from managers affects employee behavior in a positive and negative way. Positive with smiles. head nods. and eye contact. while negative like frowns. head shaking. no eye contact. and eye rolling

tips on communicating with email

-be clear and concise

-use subject line effectively

-rarely use graphics/attachments

-never assume privacy

-inform recipient about replying

-always include your name and other relevant information

-business email should read like a business letter- header/closing/proofed

influence

attempts by a person to change the behavior of superiors, peers, or lower-level employees; it is not inherently good or bad

outcomes of influence

1) Resistance: that's not in my job description, I'm too busy for that;

2) Compliance: will willingly perform but not enthusiastic about it, just because they have to;

3) Acceptance: agree and committed to its success.

compared perceived effectiveness by managers in same company

US

-rational persuasion

-exchange

-ingratiation

China

-rational persuasion

-ingratiation

-coalition

-exchange

-gifts/favors

perception

the process by which individuals attend to, organize, interpret, and retain information from their environments

perceptual filter

the personality-, psychology-, or experience-based differences that influence people to ignore or pay attention to particular stimuli

attention

the process of noticing, or becoming aware of a particular stimuli

organization

the process of incorporating new information (from the stimuli you notice) into your existing knowledge

interpretation

the process of attaching meaning to new knowledge

23%

___% of daily tasks involve email message daily

82

average number of emails per person per day

205 billion

average number of worldwide email messages daily (15% are spam)

3

average number of meeting/day for administrative workers

158 minutes

average time in meetings

retention

the process of remembering interpreted information

selective perception

the tendency to notice and accept objects and information consistent with our values, beliefs, and expectation, while ignoring or screening out inconsistent information

closure

the tendency to fill in gaps where information is missing, that is, to assume that what we don't know is consistent with what we already do know

communication process

sender, encoding the message, message channel, decoding the message, receiver

noise

anything that interferes with the transmission of the intended message

active listening

assuming half the responsibility for successful communication by actively giving the speaker nonjudgmental feedback that shows you've accurately heard what he or she said

earliest management idea

-5000 BCE

-Sumerians

-Controlling

-Written record keeping

Taylor's 4 principles

1. Scientific approach to work

2. Scientifically select & train workers

3. Cooperate with workers

4. Ensure equal division of work

Weber's 7 elements

1. qualification-based hiring

2. merit-based promotion

3. chain of command

4. division of labor

5. impartial application of rules and procedures

6. recorded in writing

7. managers separate from owners

qualification based hiring

employees are hired on the basis of their technical training or educational background

merit-based promotion

Promotion is based on experience or achievement. Managers, not organizational owners, decide who is promoted

chain of command

each job occurs within a hierarchy in which each position reports and is accountable to a higher position

division of labor

tasks, responsibilities, and authority are clearly divided and defined

impartial application of rules and procedures

Rules and procedures apply to all members of the organization and will be applied in an impartial manner, regardless of one's position or status

recorded in writing

All administrative decisions, acts, rules, and procedures will be recorded in writing

managers separate from owners

The owners of an organization should not manage or supervise the organization

4 major schools of management

scientific, administrative, human relations, systems

scientific

-use thorough study and testing to identify the best, most efficient way to do a job

-eliminates unnecessary movements in work

-refined production control and cost-control techniques

administrative

-you give control to managers based on their expertise, knowledge, and experience

-exercising control with knowledge

-7 elements of bureaucracies

-14 principles of management

human relations

-productivity was strongly affected by workers' attitudes and social relationships

systems

-parts operating interdependently to achieve a common purpose

-parts affect each other for good (synergy) or bad (undermining)

-organizational learning, chaos theory, complex adaptive systems

problems with management by best sellers

-selective inclusion of anecdotal evidence

-can encourage simplistic "do it because I said so" and "one-size fits all" thinking

first management guru

Peter Drucker

competing values approach

Flexibility and internal: cohesion, human relations

Internal and stability: control, administrative

Stability and external: productivity, scientific

External and flexibility: innovation, systems

environmental scanning

systematically searching the environment for events or issues that might affect an organization to:

-keep companies current

-reduce uncertainty

-alter organizational strategies

-contribute to organizational performance

-help avoid confirmation bias

by:

-studying environment characteristics and changes occurring

-interpret for impact on your business

-seek disconfirmation

components of a general environment

economy, technology, sociocultural, political, legal

components of a specific environment

customers, competitors, suppliers, industry specific laws/regulations, advocacy groups

culture formation and maintenance

company founder

-primary source of organizational culture

-creates company based off their own values and beliefs

organizational heroes

-people admired for their qualities and achievements within the organization (ex: employee of the month)

internalization process

Stage 1: Exporting

Stage 2: Cooperative contracts

Stage 3: Strategic alliances

Stage 4: Wholly owned affiliates