Sr. Chapter Chapter HeadingNo.No.1. 3 Understanding the Global context of business (031012)2. 4 Conducting Business Ethically and Responsibly (250212)3. 6 Organizing the Business Enterprise (030312)4. 7 Understanding Entrepreneurship and Small Business (100312)5. 8 Managing Human Resources (240312)6. 9 Understanding Employee Motivating, Satisfying & Leadership (310312)7. 11 Understanding Marketing Processes and Consumer Behavior8. 16 Managing Quality and Productivity9. 17 Managing Information Systems and Communication Technology10. 19 Understanding Money and Banking11. 20 Intermediate Term and Lease Financing
FINAL PROJECT GENERATE REVENUE REQUIRED SUBMIT GROUP NAMES SUBMIT IDEA DATE OF EXECUTION 3
Marks Distribution50 Terminal Examination20 Mid Term Examination15 Quizzes15 Final Assignment 4
1. PSYCHOLOGICAL CONTRACTS IN ORGANIZATIONS2. THE IMPORTANCE OF SATISFACTION AND MORALE3. MOTIVATION IN THE WORKPLACE Classical theory Behavior theory Contemporary motivational theories Theory X & Y Maslow’s hierarchy of needs theory Two factor theory Expectancy theory Equity theory4. STRATEGIES FOR ENHANCING JOB SATISFACTION AND MORALE Reinforcement / Behavior modification theory MBO Job enrichment and job redesign Modified Work Schedules5. MANAGERIAL STYLES AND LEADERSHIP Managerial Styles The contingency Approach to leadership Motivation and leadership in the 21st century
PSYCHOLOGICAL CONTRACTA Set of Employment Expectations forinducements in return of the employee’scontributionsContributions: What does each employee contribute to the organization?Inducements: What will the organization provide to each employee in return?
Satisfied Employees Are More Productiveand More CommittedJob Satisfaction: Degree of enjoyment employees derive from doing TURNOVER MORALE their jobsHigh Morale: An overall positive employee TURNOVER attitude toward the workplace MORALELow Turnover: A low percentage of employees leave each year
3. MOTIVATION IN THE WORKPLACE Motivation is getting others to do something because they want to do it. The process which encourages and guides behavior. The act or process of stimulating to action, providing an incentive or motive, especially for an act. Motivation is the internal drive to accomplish a particular goal. In a work setting, motivation is what makes people want to work.
THEORIES Classical Theory of Motivation: workers are motivated solely by money Hawthorne effect: productivity tends to increase when workers believe they are receiving special attention from management 9
McGregor’s Theories Theory X and Theory YTheory X Theory Y1. People are lazy. 1. People are energetic.2. People lack ambition 2. People are ambitious and dislike and seek responsibility. responsibility. 3. People can be3. People are self- selfless. centered. 4. People want to4. People resist change. contribute to business5. People are gullible growth and change. and not very bright. 5. People are intelligent.
Maslow’s Hierarchy of Needs General Organizational Examples Examples Self- Self-Self-Fulfillment Actualization Actualization Challenging Job Needs NeedsStatus Job Title Esteem Needs Esteem NeedsFriendship Friends at Work Social Needs Social NeedsStability Security Needs Security Needs Pension PlanShelter PhysiologicalNeeds Physiological Needs Salary
Two Factor Theory Hygiene Factors Motivation Factors • Supervisors • Achievement • Working Conditions • Recognition • Interpersonal Relations • The Work Itself • Pay & Security • Responsibility • Company Policies & • Advancement & Growth AdministrationDissatisfaction Satisfaction
Expectancy TheoryIndividual Individual Organizational Personal Effort Performance Rewards Goals Effort- Performance- Rewards- Performance Reward Personal Issue Issue Goals Issue
Equity TheoryEmployees evaluate their treatment relative to the treatmentof othersInputs: Employee contributions to their jobsOutputs: What employees receive in returnThe perceived ratio of contribution to return determinesperceived equity
STRATEGIES FOR ENHANCING JOBSATISFACTION AND MORALE Reinforcement / Behavior modification theory MBO Participative management and empowerment Job enrichment and job redesign Modified Work Schedules 15
Reinforcement /Behavior Modification Theory Punishment When negative consequences are attached directly to undesirable behavior Positive Reinforcement When rewards are tied directly to performance
Job Enrichment and Job RedesignJob Enrichment: Adding one or moremotivating factors to job activitiesJob Redesign: Designing a better fit betweenworkers and their jobs Combining tasks Forming natural work groups Establishing client relationships
Modified Work Schedules Work share programs Flextime programs and alternative workplace strategies Telecommuting and virtual offices
Sample Flextime Scheduling 6:00 7:00 8:00 9:00 10:00 11:00 12:00 1:00 2:00 3:00 4:00 5:00 6:00 A.M. A.M. A.M. A.M. A.M. A.M. NOON P.M. P.M. P.M. P.M. P.M. P.M. Flexible Core Flexible Core Flexible Time Time Time Time TimeJoeSuePat
Evaluating Modified Schedules andAlternative WorkplacesAdvantages Disadvantages More satisfied, Challenging to committed coordinate and employees manage Less congestion Poor fit for some workers
MANAGERIAL STYLES ANDLEADERSHIP Leadership: The process of motivating others to work to meet specific objectives
Five Fundamental LeadershipPractices Challenge the process Inspire a shared vision Enable others to act Model the way Encourage the heart Source: www.theleadershipchallenge.com
Managerial StylesAutocratic Style Democratic Style Free-rein Style Contingency Approach The appropriate style in any situation is contingent on the unique elements of that situation
Motivation and Leadership in theTwenty-first Century Motivation Security and pay are no longer enough Leadership “Coach” mentality Diversity Flexibility