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BUS272
Ch.6
| Question | Answer |
|---|---|
| Applied Performance Practices | I pay you -> you provide me service, skills and time -> together we have an output |
| Four types of Financial Rewards (MJCP) | - Membership and seniority - Job status based rewards - Competency based rewards - Performance based rewards |
| Membership and Seniority | - Benefits an employee receives depend on firm he joins - In the same firm, a senior employee receives more benefits than his or her junior employee |
| Job Status Rewards | Every firm rewards employees for the status of the jobs they are holding |
| Job Status Rewards : how to determine the job status? | Firms use job evaluation system, which helps establish differentials in status of jobs |
| Competency Based Rewards | the more you learned, know, experienced, the more you get |
| why Competency Based Rewards? | motivate employees to become aspirational, build on their existing skills and apply these in their jobs |
| Performance Based Rewards | pay based on how well you work |
| Performance Based Rewards : reward on three levels | individual, team and organization |
| Performance Based Rewards : individual rewards | - bonuses - commissions - piece rate |
| Performance Based Rewards : team rewards | - bonuses - gainsharing |
| Performance Based Rewards : organizational rewards | - stock options - profit sharing - share ownership - balanced scorecard |
| balanced scorecard | strategic planning and management system that is used to: - align business activities to the vision and strategy of the organization - improve internal and external communications - monitor organization performance against strategic goals |
| balanced scorecard: what perspectives to include in the vision and strategy? | - financial - customer/stakeholder - internal business process - organizational capacity |
| Financial Rewards have multiple meaning | - symbol of success - reinforce and motivate - reflection of performance - reduce anxity |
| what influences the value of money | - gender - cultural differences |
| Intrinsic rewards | - non-physical rewards - the feeling you get out of success |
| extrinsic rewards | - physical rewards - the best extrinsic rewards can be emotionally attached by the employees |
| Potential Problems with Rewards | - reduce intrinsic motivation - create competition - create inequity - difficult to implement |
| how to improve reward effectively | - link rewards to performance - ensure rewards are relevant - ensure rewards are valued - watch out of unintended consequences |
| how to design job | - make sure the tasks are independent with each other - create jobs that allow work to be performed efficiently + employees are motivated and happy |
| job specialization | the process of focusing one's occupational concentration on a specific area of expertise |
| scientific management | - created by Frederick Winslow Taylor - for any given job, there is a best way to structure that job to maximize performance |
| scientific management: two principle | - job simplification - job specialization |
| job simplification | deconstructing work into the simplest individual components |
| advantages of job specialization | - less time changing activities - lower training costs - job mastered quickly - better person-job matching |
| disadvantages of specialization | - job boredom - discontentment pay - higher costs - lower quality - lower motivation |
| Job characteristics theory | a model of five "core" job characteristics affect four work-related outcomes through three psychological states |
| Job characteristics theory: five core job characteristics | - skill variety - task identity - task significance - autonomy - feeback |
| five core job characteristics: skill variety | Employees experience more meaningfulness in jobs that require different skills and abilities than when the jobs are elementary and routine |
| five core job characteristics: task identity | Employees experience more meaningfulness in a job when they are involved in the entire process rather than just being responsible for a part of the work |
| five core job characteristics: task significance | Employees feel more meaningfulness in a job that substantially improves well-being of others than a job that has limited effect on anyone else |
| five core job characteristics: autonomy | Employees experience greater personal responsibility for their own successes and failures at work |
| five core job characteristics: feedback | they have better overall knowledge of the effect of their work activities, and what specific actions they need to take to improve their productivity |
| Job characteristics theory: three Critical psychological states | - meaningfulness - responsibility - knowledge of results |
| Job characteristics theory: four work-related outcomes | - work motivation - growth satisfaction - general satisfaction - work effectiveness |
| 3 job design practices that motivate ppl | - job rotation - job enlargement - job enrichment - employee empowerment |
| job rotation | the practice of moving employees between different tasks to promote variety |
| Job enlargement | increase the scope of a job through extending the range of its job duties generally within the same level to add greater variety |
| Job enrichment | assigning employees additional responsibility normally reserved for higher level employees |
| why job enrichment | employees feel like their work has meaning and is important to the company |
| Employee empowerment | give employees a certain degree of autonomy and responsibility for decision-making regarding their specific organizational tasks |
| advantage of empowerment | - rast problem solving - increase in productivity - greater degree of employee commitment - lower levels of management stress |
| disadvantage of empowerment | - decreased efficiency because decisions may not be uniform - blurred relationship |
| self leadership practices | - individual regulates own actions - personal goal setting - constructive thought patterns - designing natural rewards - self monitoring - self reinforcement |
Created by:
sky58658
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