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Chapter 8

Managing putting together an array of resources of the firm to execute their strategy and deliver value to the marketplace
Management without ethics getting stakeholders to do what the firm wants in order to maximize profits. Workers are resources to generate bottom line benefits.
Management with ethics creates communities where the value proposition of the firm inspires individuals to put forth their best effort collectively creating value for all stakeholders. Treat others as human being who deserve respect and consideration.
Taylor Scientific Management Design work to make workers as productive as possible.
Maslow Hierarchy of Needs Self-esteem & Self-actualization
MacGregor Theory X, Theory Y People dislike work. People like to work.
Deming Total Quality Management Workers know the best on how to improve production
The individual (How to Motivate): Needs Theory (ERG) Existence needs (food, shelter), relatedness needs (connection to others), growth needs (develop & use our talents)
The individual (How to Motivate): Equity Theory Perception that employer if fair/equitable
Hierarchy & relationships Authority>Psychological Contract>Gender
Hierarchy: Relationships with Authority People tend to listen to authority out of respect, fear, belief in their expertise. Managers have to find ways to get people to question authority.
Men & Woment are different Independence, lead with positional power and status. Intimacy, lead with charisma and personal power.
Psychological Contract Assumption and expectations of the parties in the workplace.
PC: Traditional expectation if the employee works hard and is loyal to the company, then he/she can expect to stay employed. Today/s marketplace changes have made this psychological contract more tentative on both sides.
Groups & Teams Tuckman's 5 phases of groups As groups go through the phases, norms develop. Some norms can cause moral problems. Forming>Storming>Norming>Performing>Adjourning
Managing at the level of the organization Change, human resource, entry and exit, diversity, growth development, climate
Managing Change Establish: A sense of urgency, Overcome: Complacency and attachment to the status quo, Build: Momentum and confidence
Human Resource Management System (HRM) Polices and procedures on how people: come and leave, grow & develop, are compesnsated & Rewarded, Receive benefits, are treated.
Entry and Exit Restructuring and layoffs, Outsourcing-using a third party to do a portion of the company's business. Firms that help displaced employees cope with the loss of their jobs and assist in finding alternative employment help to maximize blacklash
Diversity All the employees differ including: age, gender, religion, ethnicity, place of birth, sexual orientations, abilities. Need to find ways to make these employees feel empowered, included, capable of contributing and have the same opportunities to succeed.
Growth & Development Employers do not want to invest too much in an employee for fear they will leave. Employees do not want to become too specialized for fear their skills will not be transferable.
Managing the climate of the organization High performance organizations have a workforce that is committed to the vision and values of the company. Work is something that employees can take pride in and find joy and fulfillment.
Principles For Action 1 Communicate regularly with employees. Get employes to buy-in to the larger mission of the company. Foster a culture that celebrates need fulfilment and fairness as well openly address inequities.
Principles for Action 2 Be aware of the influence of authority and create a culture where subordinates have a healthy skepticism of authority. Engage diversity, be willing to talk about it. Create a culture of perfomance through teamwork.
Principles for Action 3 Embrace the role of change leadership-managers are agents of change. Commit to continuous learning, building your own intellectual capital and that of your subordinates.
Created by: rafi.sultani
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