theorys

• Maslow's Hierarchy of Needs


  (bottom) 1. Basic physical needs

  2. Safety

  3. Social Needs

  4. Self-Esteem

  (top) 5. Self Actualisation

  
• Herzberg's Hygiene and Motivating Factors

  Hygiene factors (Factors that can demotivate): company policy, supervision, working conditions, pay, relations with other employees

  
  

  Motivating factors: Personal achievement, recognition, interesting work, personal development
• Hackman and Oldham's Job design

  .Believed that jobs needed to be designed to focus around people to make them motivated. Can be used when discussing impact of motivation in job design

  
  

  Five Key Elements:

  
  

  -Skill Variety - (Variety in there job)

  
  

  -Task Identity - (Clear task to identify with, are they responsible for something)

  
  

  -Task Significance - (Do they understand why there job matters)

  
  

  -Autonomy - (Can they act independently)

  
  

  -Feedback - (Do they get feedback)
• Taylor's Scientific Management


  .Believed workers were motivated by money.

  
  

  .Pay is based on the output per employee so he believed employees would do what they were told because if they were more productive they will earn more.
• What are Bartlett and Ghoshal's 4 Theorys

  .International Strategy - Can mostly be run from home country

  
  

  .Multidomestic Strategy - Products will have to be adapted, knowledge wont be shared between branches

  
  

  .Global strategy - Business will coordinate operations across countries to take advantage of economies of scale

  
  

  .Transnational strategy - Developing knowledge and ideas locally and sharing them globally. Balance between centralisation and decentralisation with responsibilities passed down to each branch based on experience and capabilities.

  
• What are the 4 Handys organisational culture types

  .Power culture - Centralised structure where decision making limited to few people. May occur in small business

  
  

  .Role culture - Authority is defines by job title, Usually have bad communication between departments

  
  

  .Person Culture - Individuals have freedom to act independently, common in organisations like the medical field where they have high levels of specialty

  
  

  .Task culture - Emphasis on getting tasks done, Respond well to management
• Boston Matrix


  - Compares market growth with market share.

  4 Components: Question Marks (high m. growth, low m. share), Dogs (low m. share, low m. growth), Stars (high m share, high m. growth), Cash Cow (low m growth, high m. share)

  
• Greiner's Model of Growth


  .The model shows that each phase of growth is followed by a crisis

  
  

  .Can be used to show leadership and organisational structure has to evolve to reflect the growth of a business, businesses that don't adjust will experience lower growth

  
• Self-Interest (Kotter + Schlesinger's reasons for resistance to change)


  - People more concerned with their own situation, can't see the individual benefit
• Fear and Misunderstanding (Kotter + Schlesinger's reasons for resistance to change)


  Not fully understanding what change means for them
• Low tolerance for change (Kotter + Schlesinger's reasons for resistance to change)


  Used to doing things the same way so don't like change
• Different assessments of the situation (Kotter + Schlesinger's reasons for resistance to change)

  Key stakeholders may have strong disagreements over reasons change is needed so may find it hard to accept.

  May not be able to see advantages of change.

  May have better idea for change
• Re-Order Level formula


  Lead time (days) x Average daily use + Buffer Stock Levels
• Price Elasticity of Demand


  .If demand is price elastic (more then 1) this means it is sensitive to price. A change in price will cause a large change in demand

  
  

  .If it is price inelastic (less then 1) change in price does not cause a large change in deman

  
• PESTLE ( External Factors)

  Political, Economic, Social, Technological, Legal, Environmental
• Tannenbaum Schmidt (T,S,S,C,J,D,A)


  Tells - Leader identifies problems , makes decisions and announces to subordinates

  
  

  Sells - Leader still makes decisions but tries to overcome resistance through persuasion

  
  

  Consults - Leader identifies problems tells group and listens to advise and suggestions

  
  

  Joins - Leader defines problem and passes on solving and decision making to the group

  
  

  .The range of different management styles that may be adopted
• Blake Mouton Grid


  - Concern for production and concern for people

  
  

  .Advantages and disadvantages of each approach

  
• Just-In-Time Production


  -Low stock with efficient stock control to decrease storage costs and increase flexibility to change.
• Kaizen


  Constant Improvements
• Entry Threat (Porter's Five Forces)

  How easy it is to enter the market, If it is easy will bring industry profits down

  - Price war
• Buyer Power (Porter's Five Forces)

  When there are many sellers and few buyers.

  - Buy supplier out (backward vertical integration)

  - Form a buying group with other businesses
• Supplier Power (Porter's Five Forces)

  When there are few suppliers and many buyers.

  - Tie buyers into long-term contracts

  - Forward vertical integration

  - Develop new products and protect them with patents
• Threat of substitutes (Porter's Five Forces)


  How likely consumers are to buy an alternative

  - Make it expensive or difficult to switch

  - Differentiate to create brand loyalty

  - target market whose needs aren't being met
• Rivalry (Porter's Five Forces)

  High competition

  - Make it easy to switch

  - Bigger promotional budget
• Segmentation


  Dividing market into groups with similar characteristics or needs
• Stake Holder mapping


  .Highlights that not all stakeholders are equal - they vary in terms of power and influence. This might affect the way a business communicates with different groups and how much attention is paid to their views.

  
• Market Mapping


  .Highlights that there are various criteria used by customers to judge products

  
• .Income elasticity of demand (Def and formula)

  Income elasticity of demand measures extent to which the quantity of a product demanded is effected by change in income

  
• 7Ps of the marketing mix

  product, promotion, price, place, people, process, physical environment

  
  

  .Improving each element will make a business more competitive
• Product life cycle


  .May use extension strategy to extend maturity stage of a business and prevent the decline like improving branding, and quality.

  
• SWOT Analysis


  Strengths, weaknesses, opportunities, threats
• Kaplan and Norton's balanced scorecard model

  • financial perspective

  • customer perspective

  • internal business process perspective

  • learning and growth perspective

  
  

  .Used to asses achievement of financial and non-financial objectives but emphasises importance of non-financial measures

  
  

  .When analysing different components it highlights to a business its different components to change in order to improve business performance

  
• Elkington's Triple Bottom Line


  People, Planet, Profit
• Carroll's Corporate Social Responsibility Pyramid


  Obligations people expect from a business

  
  

  .Economic responsibilities

  
  

  .Legal responsibilities

  
  

  .Ethical responsibilities

  
  

  .Philanthropic responsibilities (Improve employees life's)

  
• Ansoff Matrix


  .Market penetration - Bringing an existing product to an existing market.

  
  

  .Market development - Bringing an existing product to a new market.

  
  

  .Product development - Product development

  
  

  .Diversification - Bringing a new product to a new market

  most risky

  
• Bowman's Strategic Clock


  .This outlines different strategies in terms of the perceived value and price, determines the most competitive position in the market

  
• Lewins Force Field Analysis

  .At any moment there are forces for and against change

  
  

  .Driving forces, Resistive forces

  
• Kotter and Schlesinger's model of overcoming resistance to change

  .Communication

  
  

  .Participation and involvement

  
  

  .Support

  
  

  .Negotiation and agreement

  
  

  .Manipulation

  
  

  .Explicit and implicit coercion

  
• Strategic Drift


  .Strategic drift occurs when the strategy pursued by a business no longer fits with the environment around it

  
  

  .When is flux stage business will need to undergo massive change or they will die, e.g. (Blockbuster,Nokia)

  
• What are the 5 Hofstede's national cultures


  .Individual and collectivism - extent to which individuals should look after themselves rather than be team players

  
  

  .Power distance index - extent to which a society accepts that power is distributed equally

  
  

  .Uncertainty avoidance index - Attitude to risk, how anxious do managers and employees feel to risk and to what extend do they try and avoid risk

  
  

  .Masculinity - refers to the dominant values in the organisation are these mainly masculine or feminine

  
  

  .Long term orientation - refers to how long term employees are thinking which will effect their planning and attitude