Module 2 Flashcards - Business Principles

Flow state

When you are completely involved and focused on what you are doing

Organizational Psychology

The study of how to create a workplace that fosters motivation and productivity among employees.

Maslow’s Hierarchy of Needs

States that humans have a hierarchy of needs and that primary needs must be met first before higher-level needs can be adddressed

Hierarchy of needs

Describes motivation as a response to a person’s progressive set of needs for physiology, saftey, belonging, esteem, and self-actualization

Physiological needs

The need for water, food, sleep, and reproduction.

Safety needs

Establishing safe and stable places to live and work

Belonging needs

The need to belong to a group and feel accepted by others.

Esteem needs

Are satisfied by the mastery of a skill and the attention and recognition of others

Self-actualization needs

Include the desire to maximize your own potential through education and self-fulfillment, as well as experiences of beauty and spirituality.

Herzberg’s Motivator-Hygiene Theory

Two-factor theory that states that hygiene and motivator influences a person’s motivation

Hygiene factors

Factors such as a safe working environment, proper pay, and benefits, and positive relationships with one’s coworkers.

Motivator factors

Include a sense of responsibility, recognition, promotion, and job growth.

Extrinsic Motivators

External factors that generate engagement with the work, such as pay, promotion, or verbal praise

Intrinsic Motivators

The internal drives that come from the actual interests in his or her work and stem from the sense of purpose or value the person derives from the work being done.

Douglas McGregor

Created the Theory X and Theory Y models of behavior

Theory X

Suggests that people inherently dislike work and want to avoid it. ‘

Managers who subscribe to this model believe employees must be coerced and controlled to be productive and therefore use an authoritarian, hard-line style of management.

Theory Y

Suggests that people view work as being as natural as playing and resting. People are naturally motivated and will work to further the goals of an organization if they are satisfied with their jobs.

Managers believe that people will accept and seek out responsibility and therefore have a softer, more collaborative style of management.

William Ouchi

Created the Theory Z model

Theory Z

Based on a Japanese management style that relied heavily on collaborative decision making.

Managers often reap the benefits of low turnover, high productivity, and strong morale among the workforce.

Strength-based Management

A system based on the belief that, rather than improve employee’ weak skills, the best way to help them is to determine their strengths and build on them.

Industrial Psychology

A field of study that developed to help managers understand how to optimally manage people and work.

Time-motion Studies

A method for measuring employee productivity by breaking a task into small steps and carefully observing the precise time and movements required for each step

Hawthorne Effect

Concludes that the increase in productivity was based on the attention the workers received.

Smart Motivation Factor

1. Autonomy - Having some control over the key decisions in their work lives

2. Mastery - Feeling skilled and having time to develop and improve their skills

3. Purpose - Wanting their lives and work to have a higher meaning

The 4 most common leadership styles

1. Democratic

2. Autocratic

3. Affiliative (laissez-faire)

4. Visionary

Democratic Leader

Delegates authority and involves employees in the decision-making process

Autocratic Leader

Makes decisions without consulting others

Affiliative (Laissez-faire) leaders

More advisory in style, encouraging employees to contribute ideas rather than specifically directing their tasks

Visionary Leaders

Are able to inspire others, believe in their own vision, and move people toward a shared dream.

Emotional Intelligence

The ability to understand both one’s own and others’ emotions that includes self-awareness, self-management, social awareness, and relationship management.

Corporate Culture

The collection of values, norms, and behaviors shared by managers and workers in a firm that defines the character of an organization.

Groupthink

The practice of thinking or making decisions as a group in a way that discourages individual ideas or responsibilities.

Baby Boomers

1943-1960

Veterans in the workforce, many have been with their same companies for decades.

Gen-Xers

1961-1981

Independent thinkers and hunger for change are the first generation of workers to value family life over work life.

Millennials

1982-1995

Want their jobs to accommodate their personal lives, but they also have high expectations for achievement in their careers.

iGeners (Gen Z)

After 1995

First generation to spend their entire adolescence with access to a smartphone. They have a keen sense of tolerance and fairness, but mature later than earlier generations.

Group Flow

Occurs when a group knows how to work together so that each member can achieve flow.

Includes:

• Creative spatial arrangements

• Playground design

• Constant focus on the target group for the product

• Visualization

When creating a team, a manager should consider…

• Size

• Psychological safety

• Time frame

• Status

• Diverse skills

Cross-functional team members

Are selected from across a range of critical functional divisions of a business.

Virtual Team

Members are located in different physical locations but work together via telecommunications technology to achieve a goal.

Seven Habits Model

Developed by famed management author Stephen Covey, and identified 7 Habits of sucessful people

• Be proactive

• Begin with the end in mind

• Put first things first

• Think win/win

• Seek first to understand and then to be understood

• Synergize

• Sharpen the saw