Exam 4


Terms in this set (...)

9. Motivation
An inner drive that directs a persons behavior towards goals
The difference between a desire state and an actual state
Last step in motivation process
Need satisfaction
Low moral results in
High rates of absenteeism and turn-over
Extrinsic rewards
Benifits and or recognition received from someone else
Intrinsic rewards
The personal satisfaction and enjoyment felt after attaining a goal
Classic theory of motivation
Money is the sole motivator for workers
Maslow's hierarchy order
A theory that arranges the five basic needs of people into the order in which people strive to satisfy them (physiological needs, security, social, esteem, and self-actualization needs)
Order maslow's needs must be met
1->5 (physiological, security, social, esteem, and self-actualization needs) theory maintains that the more basic needs at bottom must be satisfied before higher-level goals can be pursued
Theory X
McGregor's traditional view of management whereby it is assumed that workers generally dislike work and must be forced to do their job
Theory Y
McGregor's humanistic view of management whereby it is assumed that workers like to work and that under proper conditions employees will seek out responsibility in an attempt to satisfy their social, esteem, and self-actualization needs
Theory Z, and origin
Management philosophy that stresses employee participation in all aspects of company decision making
Expectancy theory
The assumption that motivation depends not only on how much a person wants something but also on how likely he or she is to get it
Equity theory
An assumption that how much people are willing to contribute to an organization depends on their assessment of the fairness, or equity, of the rewards they will receive in exchange
Two-factor theory
Herzburg stidied various factors relating to the job and their relation to employee motivation and concluded they can be divided into:
Hygiene factors- focus on work setting not work (wages, work conditions,security)
Motivational factors- focuses on work itself (achievement, recognition, involvement)
10. Advantages of job rotation
Preventing boredom, cross training
Advantages of job enrichment
Different opportunities, motivating to employers, growth, more money, promotions
Choose starting and ending time
Job description
A formal, written explanation of a specific job, usually including job title, tasks, relationship with other jobs, physical and mental skills required, duties, responsibilities, and working conditions
Job specification
A description of the qualification necessary for a specific job, in terms of education, experience, and personal and physically characteristics
Forming a pool of qualified applicants from which management can select employees
Advantages of giving giving first promotion opportunities to your own employees
Inexpensive, good for employee morale
Some companies use agencies or executive search firms, specializing in luring qualified people away from other companies
Equal Employment Opportunity Commission
A federal agency dedicated to increasing job opportunities for women and minorities and eleminating job descriminatiom based on race, religion, color, sexual, national origin, or handicap
When can wages be different for same job
I'm job like engineers, actuaries, or electricians, where the performance evaluation is more objective can result in salary differences. Or in cases of seniority.
Can you force employees to retire based on age
Generally considered to be illegal in the U.S.
On-the-job training
Allows workers to learn how to do their job by actually preforming the tasks of the job
Training that augments the skills and knowledge of managers and professionals
360-degree feedback
System which provided feedback from a panel that typically includes superiors, peers, and subordinates
Employment changes involving resignation, retirement, termination, or layoff
2 categories of financial compensation
Wages and salaries
Major advantages of piece wages
Based on the level of output achieved, major advantage is they motivate employees to supervise their own activities and to increase output
Profit sharing is also form of what
Another form of compensation
Collective bargaining
The negotiation process through which management and unions reach an argreement about compensation, working hours, and working conditions for the bargaining unit
Cost-of-living adjustment
Calls for automatic wage increases during periods of inflation to protect the "real" income of the employees
An attempt to keep people from purchasing the products of a company
Managements version of strike, wherein a work site is closed so that employees cannot go to work
Difference between arbitrator and mediator
Arbitration- the settlement of a dispute by a third party whose solution is legally binding and enforceable
Mediation - the third party's role is to suggest or propose a slution to the problem
11. Exchange
The act of giving up one things (money, credit, labor, goods) in return for something else (goods, services, or ideas)
Risk is the chance of loss associated with marketing decisions
Refers to standardizing products by dividing them into subgroups and displaying and labeling them so that consumers clearly understand their nature and quality
Goal of marketing
Customer satisfaction
Kind of marketing activities concentrated on during 1st half of 20th century
Business people viewed sales as the primary means of increasing profits in what has become known as sales orientation, during 20th century
Market orientation approach
Must first determine what customers want and then produce it, rather than making products first then trying to pursued buyers
1st step in developing a marketing strategy
Select a target market
Market segmentation
A strategy whereby a firm divides the total market into groups of people who have relatively similar needs
Total-market approach
An approach whereby a firm tries to appeal to everyone and assumes that all buyers have similar needs
Total-market approach assumes that all buyers are similar in needs and wants T/F
Niche marketing
A narrow market segment focus when efforts are on one small, well-defined group that has a unique, specific set of needs
Basis for physchographic segmentation
Personality characteristics, motives, lifestyles (examples, soft-drink marketers provide products in several types of packaging, bottles or cans, to satisfy different lifestyles and motives)
Behavioristic segmentation
Some characteristics of the consumers behavior towards the products. Commonly involve some aspect of product use
The process by which a person selects, organizes, and interprets information received from his or her senses