Business final revision WOWOWOW

What is employee behaviour?

The set of actions by employees that directly or indirectly influence organizational effectiveness

What are performance behaviours?

Job-related actions that are expected and contribute to the organization’s goals.

What is organizational citizenship?

Voluntary behavior that supports coworkers and the organization beyond basic job requirements.

What are counterproductive behaviors?

Behaviors that harm organizational performance, like absenteeism and turnover.

What is personality?

The relatively stable set of psychological characteristics that make people unique.

What are the Big Five personality traits?

• Agreeableness: Ability to get along with others

• Conscientiousness: Being responsible and organized

• Emotionality: Tendency to experience emotions

• Extraversion: Comfort with social interaction

• Openness: Willingness to try new experiences

What is emotional intelligence (EQ)?

The ability to understand, manage, and use emotions effectively.

What are the 5 components of EQ?

• Self-awareness

• Managing emotions

• Motivation

• Empathy

• Social skills

what is job satisfaction?

The degree of enjoyment people derive from their work.

what is organisational commitment ?

An individual’s loyalty and identification with the organization.

What is cognitive dissonance?

Discomfort caused by conflicting beliefs, values, or behaviors.

What is a psychological contract?

Unwritten expectations between an employee and employer.

What is person-job fit?

How well an individual’s skills match the job’s demands.

What is motivation?

The internal force that drives people to act toward goals.

What is the classical theory of motivation

The theory that people are only motivated by money.

What is Theory X and Theory Y?

• Theory X: People are lazy and need supervision

• Theory Y: People are self-motivated and seek responsibility

What is Maslow’s hierarchy of needs (bottom to top)?

1. Physiological

2. Safety

3. Social

4. Esteem

5. Self-actualization

What is Herzberg’s Two-Factor Theory?

• Hygiene factors (e.g., pay, work conditions) prevent dissatisfaction

• Motivators (e.g., recognition, achievement) create satisfaction

What is expectancy theory?

Motivation depends on the belief that effort will lead to performance and reward.

What is equity theory?

Motivation is based on perceived fairness in how effort and rewards compare to others.

What is participative management?

Allowing employees to help make decisions that affect their work.

What is empowerment?

Giving employees more control over their tasks and decisions.

What is leadership?

The process of motivating and inspiring others to achieve goals.

How is leadership different from management?

• Leadership = inspires and influences

• Management = plans, organizes, coordinates

What is power in leadership?

The ability to influence others’ behavior.

What are the 5 types of power?

• Legitimate: Power from a formal position

• Reward: Ability to give rewards

• Coercive: Ability to punish or threaten

• Referent: Power from charisma or admiration

• Expert: Power from knowledge and skills

What is the trait approach to leadership?

Focuses on personal characteristics that make a good leader (e.g., confidence, intelligence).

What is the behavioral approach?

Focuses on what leaders do:

• Task-focused: Get the job done

• Employee-focused: Support the team

What is the situational approach to leadership?

The best leadership style depends on the situation.

What is transformational leadership?

Inspires and motivates people to change and grow

What is transactional leadership?

Focuses on structure, rules, and rewards for performance.

What is charismatic leadership?

Influence based on personal charm and confidence.

What are leadership substitutes and neutralizers?

• Substitutes: Factors that reduce need for leadership

• Neutralizers: Factors that block leader influence

What is virtual leadership?

Leading teams through digital platforms instead of in person.

What is strategic leadership?

Leading with a long-term vision that adapts to change.

What is ethical leadership?

Leading based on honesty, integrity, and values.

What is the decision-making process?

1. Recognize the problem

2. Identify alternatives

3. Evaluate alternatives

4. Choose the best one

5. Implement

6. Follow up

What are the 3 types of decision-making conditions?

• Certainty: You know the outcomes

• Risk: Outcomes have probabilities

• Uncertainty: Outcomes are unknown

What is a programmed decision?

Routine, repeated decisions with clear procedures

What is a nonprogrammed decision?

Unique, complex decisions with no clear solution

What are behavioral aspects of decision-making?

• Coalitions: Informal groups influencing decisions

• Intuition: Gut feelings

• Escalation of commitment: Continuing a bad decision

• Risk propensity: Willingness to take risks

What is Human Resource Management (HRM)?

The organizational function that attracts, develops, and retains an effective workforce

What is human capital?

The value of an organization’s investment in its people, including skills, experience, and motivation.

What is job analysis?

A systematic analysis of a job’s tasks and responsibilities.

What is a job description?

A written description of the duties, responsibilities, conditions, and tools involved in a job.

What is a job specification?

A description of the skills, qualifications, and experience required for a job.

What is internal recruiting?

Considering current employees for job openings.

What is external recruiting?

Seeking new candidates from outside the organization.

What is a Realistic Job Preview (RJP)?

Giving applicants an honest picture of what the job actually involves.

What are common selection tools?

Application forms, tests, interviews, drug tests, credit checks, references.

What is compensation?

All rewards given to employees for their labor, including wages, salaries, and benefits.

What is the difference between wages and salary?

Wages are hourly pay; salary is fixed pay for job responsibilities

What is a bonus?

A one-time extra payment for individual performance.

What is a merit salary system?

Raises linked to individual performance (not sales-based).

What is pay-for-performance?

Compensation based on productivity or output.

What is profit-sharing?

Employees receive bonuses based on company profit levels.

What is gainsharing?

Group-based incentives tied to productivity improvements.

What is pay-for-knowledge?

Incentive plan that rewards employees for acquiring new skills or mastering multiple jobs.

What are benefits?

Non-wage compensation like insurance, vacations, and retirement plans.

What is a cafeteria benefits plan?

A flexible plan that lets employees choose from a range of benefits within a budget.

What’s the difference between training and development?

Training is for technical job skills; development is for long-term growth, especially for managers.

What are common types of training?

On-the-job training, off-the-job training, vestibule training (in a simulated environment).

What is performance appraisal?

Evaluation of how well an employee is doing their job.

What is 360-degree feedback?

Performance feedback from supervisors, peers, subordinates, and sometimes clients.

What is workforce diversity?

The range of differences among employees, including race, gender, age, and beliefs.

Who are knowledge workers?

Employees who are valued for their knowledge and expertise, not just manual labor.

What is a contingent worker?

A worker who is not full-time or permanent (e.g., contractors, temps, freelancers).

What is marketing?

A set of processes for creating, communicating, and delivering value to customers, and managing relationships in ways that benefit the organization.

What is value in marketing?

The comparison of a product’s benefits to its costs.

What are the four types of utility?

• Form Utility: Product is in usable form.

• Time Utility: Available when needed.

• Place Utility: Available where needed.

• Possession Utility: Easy to purchase or own.

What is relationship marketing?

A strategy focused on building long-term relationships with customers and suppliers.

What is CRM (Customer Relationship Management)?

A system for managing customer data to strengthen relationships and enhance customer satisfaction.

What are the five external marketing environments?

• Political-Legal: Government regulations and laws.

• Sociocultural: Values, customs, demographics.

• Technological: Innovation and digital tools.

• Economic: Inflation, interest rates, consumer income.

• Competitive: Types of competition a firm faces.

What are the three types of competition?

• Substitute: Different product, same need.

• Brand: Similar products, different brands.

• International: Domestic vs global competition.

What are the 4 Ps of the marketing mix?

• Product: What you’re selling (goods, services, ideas)

• Price: What it costs

• Place: Where/how it’s distributed

• Promotion: How it’s communicated to customers

What is a marketing plan?

A detailed strategy for focusing marketing efforts on consumers’ needs and wants.

What is market segmentation?

Dividing a market into groups of similar customers

What is a target market?

A specific group of customers chosen for focused marketing efforts.

What are four common segmentation bases?

• Geographic: Region, country, city

• Demographic: Age, gender, income

• Psychographic: Lifestyle, values, personality

• Behavioral: Usage rate, loyalty, brand knowledge

What is product positioning?

Creating and communicating a product image in the minds of consumers.

What is marketing research?

The process of studying customer needs and how best to meet them.

What is the difference between primary and secondary data?

• Primary: New data collected firsthand.

• Secondary: Previously collected data.

What are four marketing research methods?

Observation, surveys, focus groups, and experiments.

What is consumer behavior?

The study of how and why people buy and use products.

What are the five influences on consumer behavior?

• Psychological: Motivation, perception, learning

• Personal: Lifestyle, personality, income

• Social: Family, friends, opinion leaders

• Cultural: Culture, subculture, social class

• Brand Loyalty: Repeat purchasing based on satisfaction

What are the five steps in the consumer buying process?

1. Need recognition

2. Information search

3. Evaluation of alternatives

4. Purchase decision

5. Post-purchase evaluation

What is promotion in the marketing mix?

Communicating information to consumers about a product to persuade or inform.

What are the main tools of promotion?

Advertising, personal selling, sales promotions, public relations.

What is a push strategy?

Promoting products to wholesalers or retailers to encourage them to sell to consumers.

What is a pull strategy?

Promoting directly to consumers so they demand the product from retailers.

What is the promotional mix?

The combination of promotional tools used to reach the target market.

What is viral marketing?

Using digital/social platforms to spread product information quickly, like a “virus.”