Unit 5
What are the two main categories of factors that Herzberg's Motivation-Hygiene Theory identifies as influencing employee satisfaction?
Herzberg's theory distinguishes between motivator factors (which give positive satisfaction) and hygiene factors (which prevent dissatisfaction).
What is management by consensus, and in which cultures is it common?
Decisions are made through consultation and input from all employees, not imposed from above, and it is common in some Asian cultures.
What is the main difference between 'team building' and 'team working'?
Team building is the initial stage where the team leader sets direction, helps members get to know each other, and establishes how they will work together. Team working involves sharing ideas, cooperating, being open, and supporting each other.
What is a strategic alliance?
It is an agreement where two or more companies share resources and knowledge to achieve common business objectives, often to access new markets or create synergy.
Why is developing an employer brand important in headhunting?
Because it increases the company's visibility, making it more attractive to top candidates.
Can you list 6 motivator factors according to Herzberg's theory?
- achievement
- recognition
-the work itself
- responsibitity
-advancement
- growth
What is a key challenge associated with empowerment and delegation?
Maintaining control of operations and ensuring they remain profitable and on course.
What role has become increasingly important in virtual teams?
The Selector/Facilitator, responsible for finding the right talents and coordinating them, often without face-to-face interaction.
What is the difference between a friendly and a hostile acquisition?
A friendly acquisition is approved by the target company's shareholders and board, while a hostile acquisition occurs without their approval.
What is Expectancy Theory, and how does it motivate team members?
It links the expectation that hard work leads to good results and that good results lead to attractive rewards, motivating people to work hard.
What are some hygiene factors that Herzberg identified as potential sources of dissatisfaction?
Hygiene factors include supervision, company policy, working conditions, salary, peer relationships, and security.
Describe the laissez-faire management style.
It involves minimal or no interference from management, trusting highly skilled staff to make decisions and solve problems independently.
What are some common problems that can cause conflicts within a team?
Skills shortages, performance issues, lack of organizational support, and scattered locations.
How does a strategic alliance differ from a joint venture?
A strategic alliance does not create a new legal entity; the companies remain independent, whereas a joint venture involves forming a new, jointly owned entity.
What is the 'Forming' stage of a team’s life cycle?
The initial stage where the group feels anxious, dependent on the leader, and is trying to understand how it will operate.
How does Herzberg’s theory explain the difference between job satisfaction and dissatisfaction?
Job satisfaction is primarily influenced by motivator factors related to the content of the work, while dissatisfaction is caused by hygiene factors related to the work environment. Improving motivators enhances satisfaction, whereas improving hygiene factors prevents dissatisfaction.
What should you do during the question and answer session?
Listen carefully, maintain eye contact, avoid interrupting, and respond tactfully to different question types.
How does team-building boost morale?
It increases psychological safety, encourages risk-taking, and fosters a sense of shared purpose among team members.
What are some primary objectives of mergers and acquisitions?
To maximize profitability and growth by decreasing competition, reducing costs, entering new markets, diversifying offerings, expanding customer base, and increasing operational efficiency.
What are some useful tips for delivering a confident presentation?
Maintain eye contact, use a hook to grab attention, speak clearly and slowly, pause regularly, use notes as prompts, and take deep breaths to manage nerves
How can cold calling harm a company’s image if not used properly?
It can be seen as aggressive or unwanted sales behavior, damaging the company's reputation and making it harder to establish lasting relationships.
What is a business vision, and what purpose does it serve?
A realistic, convincing, and attractive depiction of where an organization wants to be in the future, providing direction and setting priorities.
What skills are developed through teamwork?
Trust, communication, cooperation, and the ability to find common ground.
What is the six-by-six rule for visual aids?
Slides should have no more than six bullet points, and each bullet point should contain no more than six words to keep information clear and concise.
How does a strategic alliance differ from a joint venture?
In a strategic alliance, companies remain independent, sharing resources but not forming a new entity. In a joint venture, they pool resources to create a new, jointly owned entity dedicated to a specific task.