Business Management U3 AoS2A

• KK1:

  
• Motivation: Motivated employees can have many benefits (productive, strong culture, reduced absentees, business objectives)

  • Maslow: Hierarchy of needs
  • Locke & Latham: Goal setting theory
  • Lawrence & Nohria: Four drive theory
• Maslow's Hierarchy of Needs

  • Physiological: Basic pay and work conditions
  • Safety & Security: Job security and safe workplace/ free from injury
  • Love & Belonging: Strong relationships (social)
  • Self-esteem: Personal recognition, responsibility
  • Self-actualisation: Achieving full potential
• Locke & Latham: Goal setting theory (CCCCF)

  • Clarity
  • Challenge
  • Commitment
  • Task Complexity
  • Feedback
• Lawrence & Nohria: Four Drive theory (BALD) the drive to...

  • Bond
  • Acquire
  • Learn
  • Defend
• Maslow

  • allows management to develop understanding of individual needs + aware that employees at different stages + fairly easy to understand
  • Not supported + struggle to identify current stage + very simplistic, can satisfy several needs same time
• Locke & Latham

  • supported by studies + Staff perform better due to clear and specific goals + better relationship between management and employee
  • vague goals lead to poor performance + goals may clash + detrimental if fail to meet goal + focus too intently on goals and forgets other tasks
• Lawrence & Nohria

  • drives work independently, allowing flexibility + very adaptable + improve behaviour and business performance
  • existence of other drives + unhealthy competition
• M + L&L

  • achieving one thing at a time + highlight importance of achieving job satisfaction as motivator + achieving goal = self-actualisation need
  • Maslows applied all employees same time, L&L individualized + Maslows ongoing/ long-term, L&L short-term + Maslow focus on internal employees needs, L&L external to the employee
• L&L + L&N

  • Managers need to know employees well + require cooperation between management and employee + rewards for achieving goals = drive to acquire
  • 4D's can be applied to all employees at once, L&L individualized for each employee + L&L pursue one goal at a time, 4D's simultaneously + L&L closely aligned with business objectives, 4D's more internal employee
• M + L&N

  • both emphasise importance on achievement of employee satisfaction + management can satisfy needs through the drives + drive to acquire = physiological/ self-esteem needs
  • Needs done one at a time, 4D's same time + Maslow 5 needs with varying importance, drives all have equal importance + Drive to defend negative, maslow concentrates on positive motivators
• Motivation strategies

  • Performance related pay (F)
  • Career advancement (NF)
  • Investment training (NF)
  • Support strategies (NF)
  • Sanction strategies (F/ NF)
• Performance related pay

  • Pay/salary increase
  • Bonuses
  • Commission
  • Share plan
  • Profit sharing
  • Gainsharing
• Career advancement

  giving employees greater responsibility or opportunities to provide leadership in the business
• Investment in Training

  Directing resources (e.g. time and money) into teaching skills to employees
• Support strategies

  Individual assistance and services designed to help employees cope with problems and negative situations
• Sanction strategies

  Penalties imposed on employee for poor performance or disobeying a policy
• Performance related pay

  • M: Physiological & Security
  • L&L: Challenge and Commitment
  • L&N: Drive to acquire
• Career Advancement

  • M: Physiological and Security
  • L&N: Drive to acquire/ bond/ learn
• Investment in training

  • M: Self-actualization
  • L&L: Challenge, commitment, complexity, feedback
  • L&N: Drive to learn
• Support strategies

  • M: Love and Belonging
  • L&L: Commitment
  • L&N: Drive to bond
• Sanction strategies

  • M: Physiological, safety & security
  • L&N: Drive to defend