Business Management SAC 2

What are the 5 levels in the Hierarchy of Needs (Maslow)?

5. Self-actualisation

4. Self-esteem needs

3. Social needs

2. Safety needs

1. Physiological needs

What are the 5 goal setting principles from Goal Setting Theory (Locke & Latham)?

1. Set clear goals

2. Set challenging (but achievable) goals

3. Secure commitment to goals

4. Provide feedback

5. Complexity of task

What is the Four Drive Theory?

Drive to Acquire, Drive to Bond, Drive to Comprehend, Drive to Defend

What are the motivation strategies?

Performance-Related Pay, Career Advancement, Investment in Training, Support Strategies, Sanctions Strategies

List on-the-job training options.

Mentoring, Role Modelling, Apprenticeship, Planned work activites, Job Rotation

List off-the-job training methods.

Information Presentation Style, Information Processing Style, Simulations, Role Plays

What is Performance Management?

The practice undertaken by a business to drive decisions and improve organisational, individual, and functional performance.

What are the Performance Management strategies?

Management by Objectives (MBO), Appraisals, Self-Evaluation, Employee Observation

What are the termination methods?

Resignation & Retirement (Voluntary) | Redundancy & Dismissal (Involuntary)

What are the Entitlement Considerations?

• Renumeration still owed

• Accrued annual leave

• Long service leave entitlements

What are Transition Considerations?

Guidance provided to employees going into retirement and to ease them into their change in lifestyle etc. Superannuation, Pension Entitlements, & Investment.

What are Awards?

Awards outline the minimum wages and conditions for an entire Australian industry.

What are Enterprise Agreements?

An enterprise agreement is a legally binding contract between an employer and an employee regarding wages and conditions for that specific business.