Business AOS 2

• • Human resource management involves effectively managing employees in a business and the relationship between employees and the business, as well as the motivation of employees, with the aim of ensuring the business objectives are successfully met.
• • Maslow’s Hierarchy of Needs theory requires that managers understand where each worker is situated according to a hierarchy of needs in order to try to satisfy employee needs appropriately.
• • Locke and Latham’s Goal Setting Theory involves the establishment of clear, challenging goals as a way to motivate staff and improve their performance. Clarity, challenge, commitment, feedback and task complexity are the essential principles of Goal Setting Theory.
• • Lawrence and Nohria’s Four Drive Theory identified four basic human drives that determine all human behaviour and applied these to the motivation of employees in the workplace. These drives are the drives to acquire, bond, learn and defend.
• performance-related pay refers to the monetary compensation provided to employees relative to how their performance is assessed according to set standards. Performance-related pay can be provided to employees through direct payment incentives such as pay increases, bonuses and commissions,
• • Career advancement is the assignment of more responsibilities/authority to employees or the promotion of employees to positions that bring rewards, such as increased salary, fringe benefits and increased responsibilities.
• • Support strategies include the assistance or services (such as counselling and mentoring) provided by the business to help employees cope with difficulties that may impede their work performance.
• investment in training refers to the direction of finances, or resources such as time, into the teaching of skills to employees.
• • Training involves teaching staff how to do their job more efficiently and effectively. The aim is to increase the person’s knowledge and skills.
• • On-the-job training occurs when employees learn a specific set of skills to perform particular tasks in the workplace.
• • Off-the-job training occurs when employees learn a specific set of skills to perform particular tasks away from the workplace.
• • Performance management focuses on improving both business and individual performance through relating business performance objectives to individual employee performance objectives.
• • Management by objectives is a process by which management and employees agree on a set of goals for each employee, with these individual goals all contributing to the objectives of the business as a whole.
• • An appraisal refers to the formal assessment of how efficiently and effectively an employee is performing their role in the business. 
• • Self-evaluation involves employees carrying out a process of self-assessment, based on a set of agreed criteria.
• • Employee observation involves gathering feedback on past and current performance from a range of stakeholders including management, other employees and customers.
• • Entitlement considerations are the rights to benefits that employees have when leaving the workplace, either on a voluntary or an involuntary basis.
• • Transition considerations relate to the process or a period of changing from one job to another or from one set of circumstances to another.
• automated production line consists of machinery and equipment arranged in a sequence.

  
  

  • Minimises Waste
  • Reduced Human Labour, can allow for the business to produce at a reduced cost and increased productivity

  
  

  • Robotics are costly, and can be unaffordable for small businesses
  • Robotics can break down, Halting production