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33 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Surviving the Downturn
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Stay positive, look for bold new ideas, look for up and coming markets (S.Africa, East Europe) look at bigger picture, GDP. Look for businesses where volatile (up and down) business cycle is normal.Recessions are times of great oppertunity
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China takes aim at the dollar
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China wants to use the IMF (international monetary fund) to create a new currency that would let them be a financial power and make US a less of a financial giant. Countries upset with US, China backed by Russia.
When things are not going your way, redefine the rules (anthony) |
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Motivation (vocab)
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A person's individual psychological state that effects their direction, effort and persistence
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Two kinds of motivation
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Intrinsic-'in' comes within, doing it to get the task done, behavior is done for its own sake.
extrinsic- motivated to acquire or avoid something. motivation comes from consequences of not doing something |
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AIG fights fire in Paris
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When things went bad, AIG signed key employees on a contract to guarentee bonuses. When this didnt happen, they quit and now AIG is scrambling to replace them because they handled 243B$. Could force European banks to have to raise bilions to help soften the blow
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Strangers lend a hand to jobseekers
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adversity brings out the worst and the best; compassion and generosity.
Job Angels on Twitter.com helped users by using networking to find at least one person a job. Mary White got help by getting Job Angels to edit her resume NETWORK Adversity can make people be self-centered or generous. |
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Maslows Hierarchy
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Physical, safety, social, esteem, self actualization
psses |
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Herzberg
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Said that the bottom three (physical, safety. social) should be called hygiene, and the top 2 motivators.
said that nobody gets excited about juts surviving but rather about growth and excelling. Hygiene needs are needed in order for motivation to exist but not sufficient to create motiviation. - hygiene needs dont create motivation, but you cant have motivators without first having hygiene needs met. |
i changed this one for you
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McClelland
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3 needs for white collar people
Achievement - to have success Affiliation- to be with other people (relationships) Power-desire to influence decisions. Will motivate them if they can achieve this status. |
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Perceptions, Outtakes, Intakes
Equality, Justice, Fairness |
p(my o/i) >= p ( their o/i)
you want others to look at what you have put in, then look at what you got out of it. Based on this, you want this perception to be the same based on how much they put in. |
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Goal Setting
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can set the wrong goals. Just know that 'doing your best" is not on the 6 ways to do goals right
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B.F. Skinner (father of operant conditioning) 4 things that motivate
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4 things that motivate: Positive Reinforcement- getting something good bc you did a correct behavior
Negative reinforcement- taking away something bad for doing the correct behavior punishment- adding something negative for undesired behavior extinction- removing bad behavior by removing what causes it ( bully and attention) |
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Social Learning/Vicarious Learning/ Role Modeling
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All it says is that your people will look at others and do as they do.
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Merit Pay
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1. Bonus - are effective if 1)base pay is unrelated to performance 2) if salary doesnt change, but performance does
Peace Pay- based on how much you produce. Commission- percentage of what you sell Profit Sharing- get a piece of the profit Employee Stock ownership- get a piece of stock, if it goes up you get extra skrilla |
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Obama Walks a Fine Line
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Obama has to decide between letting GM go bankrupt or give them taxpayers dollars. On the right (repubs) they think that you should help them bc other jobs will fail. left (dems) says to let them fail.
Third Option- step back do nothing. Problem to this is that if we don't have someone in charge, we lose faith and fear will deepen the crisis |
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View of Intrinsic Motivation
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1. You cannot change a worker's motivation bc its morally wrong and impractical
2. Bc of this the manager should hire those that are already highly intricisally motivated 3. We are trying to achieve performance that lead to SUCCESS- motivation, capabilities, circumstances |
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Group vs Team (definition)
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Group- a collection of people
Team- this collection of people but they work intensly together to achieve COMMON goal so not every group is a team |
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4 Team Development Stages
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Forming-socialization, getting to know eachother, trusting eachother and invest in building social bonds/
Storming-Conflict, diversity, differnece. Conflict may lead to creation. Norming- Agreed upon standard on how to handle things. Remember common values and MUTUAL BENEFIT Performing-Invest in the first 3 stages to make performance effective, efficient. Revert back to one if performance slides or stalls. |
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3 Methods for Reducing Loafers
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Make individual contributions public so theyre accountable
Emphasize value of each member of the team. Keeps group small to reduce the ability to slack off |
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Jack Welch
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Legendary CEO of GE in 80's and 90's, said 'Nothing else matters is we dont get a people thing right.
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Job Analysis ( def )
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identifying the tasks, duties, responsabilities of a job and then recognizing the knowledge, skills, abilities (KAS) to get the job done WELL.
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External Recruiting
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Good: finds new perspectives and fresh talent
Bad: expensive and required learning curve and assesing qualifications can have problems |
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Internal Recruiting
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Good: You know the employees. They know the rules/culture of the company. Motivational tool when employees work their way up.
Bad: No new way of thought (group think0 |
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Training ( def )
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short term, today's terms, task oriented. Usually on the job
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Development (def )
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long term and looking into the future. Formal education and looking at job rotations
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3 Types of Performance Appraisal
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Trait ( he is cheerful, she is a hard worker)
Behavior- How they work through things, their methodology, Are they following what I have told them to? Results- Are your results at the right level Obviously the most objective ( quantifiable). When people are pushed to reach a high results bc thats the only thing you judge, the practices of reaching this goal may be unethical. |
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6 Ways to make performance feedback easy
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1) tell them theyre doing a good job ( even something small like showing up)
2) Be specific about problems 3) Talk about what needs to be improved 4) Suggest ways of improving them 5)Give a timetable to see improvement 6) Express your confidence in them. |
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3 Ways of setting salary levels
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Job Market- what other employers pay workers with similar jobs.
Performance- based on how well they do. Future- think of future of company and the employee ( do you want them there for a long time, are they the right person) |
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6 things Unions deal with
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wages, benefits, working conditions, job security, grievance packages, hours
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Interview
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Dont show up an hour early, just getting the interview is good, dont be desperate. stand out for the right reasons--look at recent publications, competitors, mkt position and talk about accomplishments not responsabilities.
Do not offer to work for free but rather ask what the company has budgeted No typing errors on resumes, employers have luxury of choice dont stalk the interviewer, 1 week rule before checking on status as a candidate and call only their office |
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Boost the Troops Morale about Layoffs
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Find alternative incentives rather than cash when ecnonomy is tight, give paid time off ie
Transparency- dont hide things, dont add uncertainty to more uncertainty. Recognition Counts-recognize employees for good work Keep educating- show employees you are investing in them and this also says that there is a future |
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Interviews (Structured vs. Unstructured)
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Structured- everyone gets the same questions. (More fair and clear)
Unstructured- conversational and open-ended. (More revealing) |
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7 Tools of Selection
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(increase in validity to number 6)
1.Background Info 2.Interviews 3.Paper and Pencil Tests 4.Physical Ability 5.Performance Test 6.Assesment Center 7.References (NO VALIDITY) |
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