Management Styles
A manager motivates employees by offering free lunch coupons when they meet certain sales numbers.
Invented by Frederick Taylor, this theory says money is the key incentive for working.
Scientific Management Theory
The acronym HRM stands for
Human Resource Management
Refers to the combination of salary and wages, benefits, bonuses, and any additional perks employees receive for performing their job
Employee compensation
A pyramid approach that states human beings cannot achieve the upper levels until the lower levels are satisfied. Used as a measurement in employee motivation
Maslow's Hierarchy of Needs
This manager has little trust in their employees. They are given very strict guidelines and expected to follow them exactly.
Autocratic
This theory says business works like the human body, with multiple parts working together toward a common goal.
Systems management theory
List the 4 Phases of HRM
Pre-hire, training, hire, termination
The salary and wages that are paid directly to employees, i.e., any monetary payment
Direct Compensation
Refers to any motivation that originates internally
Intrinsic motivation
This manager treats the office like a family. They are very loyal and expect trust in return. However, during times of crisis, this can be dangerous.
Paternalistic
This theory is that no one management approach suits every organization. There are several external and internal factors that will ultimately affect the chosen management approach.
Contingency Management Theory
A hiring manager believes the person they are interviewing is from a bad neighborhood. Because of this, they barely listen when they are answering interview questions. This is an example of which bias?
Stereotyping
Compensation that has a monetary value but isn’t paid directly to employees, i.e., non-cash benefits.
Indirect compensation
Driven by external rewards. This kind of motivation is most tangible in nature. Includes things like money, rewards, promotions.
Extrinsic motivation
This manager wins over the team through emotion. They create a sense of trust and passion from their employees. They focus more on relationships than anything else.
Charismatic
This theory holds a pessimistic view of employees in the sense that they cannot work in the absence of incentives.
Theory X
A manager is interviewing a potential employee. As soon as the interviewee walks in, they are entranced by their very expensive outfit and their confidence walking in the room. This could be an example of which bias?
First-impression
Additional perks, any remaining employee compensation that doesn’t have a dollar value
Non-monetary compensation
The feeling of belonging to a group or society and being accepted. This is what type of motivation
Affiliate motivation
This manager is very hands-off. They don't even come into the office some days because their staff is so highly skilled.
Laissez-Faire
This theory holds an optimistic opinion of employees.
Theory Y
When a potential employee comes in for an interview, the hiring manager notices they have many of the same likes, interests, and traits. This could be an example of which bias?
Halo effect
A good retention rate for a business's employee is considered this percentage
90
RANDOM BONUS! Kongō Gumi is considered the oldest company in the world. In which year was it founded?
578 AD