Final Review sheet BUSN 1210 In addition to review sheets 1 and 2, please know the following: Chapter 12: Human Resources Know what human resources involves, Planning, Recruitment, selection, orientation Training, Performance appraisal, Compensation and benefits, health and safety and labour relations. Know this well and be able to give examples. Know and apply, Validity and Reliability Human Resource Management Process: Planning -> Recruitment/Decruitment -> Selection Orientation -> Training Performance Management -> Compensation and Benefits -> Career Development External Factors: 1. Economy 2. Labour unions – organization that represents employees and seeks to protect their interest through collective bargaining; many HRM decisions are regulated by the terms of collective agreements 3. Government laws and regulations – ie. minimum wage, minimum age, overtime pay, holiday pay, parental leave 4. Demographic trends Human Resource Planning: - - Process by which managers ensure that they have the right number and kinds of people in the right places and at the right times Organizations can avoid sudden talent shortages and surpluses Steps: o Assessing current human resources: inventorying current employees; job analysis – assessment that defines jobs and behaviours necessary to perform them; job description – written statement of what a jobholder does, how it is done, and why it is done; job specification – minimum qualifications that a person must possess to perform a given job successfully o Assessing future HR needs: future HR needs; determined by the organization’s mission, goals, and strategies Works together with general management planning to make sure that the goals of the organization can be met Recruitment / Decruitment: - Recruitment: process of locating, identifying, and attracting capable applicants; employee referrals generally produce the best candidates Decruitment: reduce the organization’s workforce; people can be fired, but other choices may be more beneficial to the organization Selection: - - Selection process: screening job applicants to ensure that the most appropriate candidates are hired Validity: proven relationship between the selection device and some relevant job criterion Reliability: device measures the same thing consistently; selection devices must possess an acceptable level of consistency Quality of fill: looks at the contributions of good hires vs those of hires who have failes to live up to their potential o Employee retention o Performance evaluations o Number of 1st year hires who make it into high-potential training programs o Number of employees who are promoted o What surveys of new hires indicate Selection devices: reduce accept and reject errors; Application forms, Written tests, Performance-simulation tests, Interview, Background investigations, Physical examinations Realistic job preview: includes both positive and negative information about the job and company; increase employee job satisfaction and reduce turnover Orientation and Training - Training model: o Needs assessment: what needs to be learned vs what is currently known GAP o Planning: best way to train transference o Implementation: JUST DO IT o Evaluation: what was learned? Performance Management -> EVALUATION - Are they doing a good job WHAT IS THE JOB in the first place? How to improve performance in the job? Compensation and Benefits - What are you paying for? Non-monetary = BENEFITS -> why offer benefits? TO ATTRACT AND KEEP EMPLOYEES Health and Safety - Safe, healthy, harassment-free workplace - Healthy = long-term Chapter 13: Leadership Know leadership theories: Trait leaders exhibit certain traits that make them leaders Behavioural leaders behave a certain way that makes them leaders a. b. c. d. Democratic vs autocratic vs laissez-fiare Consideration vs initiating – measures low vs high Employee- vs production-oriented Concern for people vs production – measures using managerial grid (9x9 matrix); 1 (low) to 9 (high) -> 81 potential categories Fiedler effective group performance depended on properly matching the leader’s style and the amount of control and influence in the situation; person’s leadership style is fixed; relationship vs task oriented a. Leader-member relations – degree of confidence, trust, and respect employees had for their leader b. Task structure – degree to which job assignments were formalized and structured c. Position power – degree of influence a leader had over activities such as hiring, firing, discipline, promotions, and salary increases Situational Leadership (Hersy & Blanchard) focuses on followers and their readiness (extent to which people have the ability and willingness to accomplish a specific task); task vs relationship behaviours a. Telling – high task-low relationship; leader defines roles b. Selling – high task-high relationship; leader provides both directive and supportive behaviour c. Participating – low task-high relationship; leader and followers share in decision making d. Delegating – low task-low relationship; leader provides little direction or support a. R1 – unable and unwilling; followers aren’t competent or confident TELLING b. R2 – unable but willing; followers are motivated but lack skills SELLING c. R3 – able but unwilling; followers are competent but don’t want to do something PARTICIPATING d. R4 – able and willing; people do what is asked of them DELEGATING Path-Goal Theory leader’s job is to assist followers in attaining their goals and to provide direction or support needed to ensure that their goals are compatible with those of the group or organization; leaders are flexible and can display any and all leadership styles depending on situation a. Directive leader – leader lets subordinates know what’s expected of them b. Supportive leader – leader shows concern for the needs of followers c. Participative leader – leader consults with group members and uses their suggestions d. Achievement-oriented leader – leader sets challenging goals and expects followers to perform at their highest level Leader Member exchange theory leaders create in- and out-groups; those in the in-group will have higher performance ratings, less turnover, and greater job satisfaction; leaders differentiate among followers Know also Transformational and transactional leadership, what is the difference? Charisma-what is it? a. Transactional leader – lead primarily by using social exchanges (transactions); guide or motivate followers to work toward established goals by exchanging rewards for their productivity b. Transformational leader – stimulates and inspires (transforms) followers to achieve extraordinary outcomes; pay attention to the concerns and developmental needs of individual followers; change followers’ awareness of issues by helping those followers look at old problems in new ways; able to excite, arouse, and inspire followers to exert extra effort to achieve group goals c. Charismatic leader – enthusiastic, self-confident leader whose personality and actions influence people to behave in certain ways d. Visionary leader – ability to create and articulate a realistic, credible and attractive vision of the future that improves on the present situation Chapter 14: Motivation Know theories of motivation including: Maslow Hierarchy of Needs – Psychological, Safety, Social, Esteem, Self-Actualization Alderfer’s ERG Theory: Existence, Relatedness, Growth Herzberg’s 2 factor theory – Hygiene Factors: reduce dissatisfaction; Satisfiers / Motivators: increase satisfaction; the opposite of satisfaction and dissatisfaction is the absence of either McLelland’s 3 needs theory – Power: influence; affiliation: work with and interact with people; achievement: achieving goals Goalsetting – motivation is the achievement of the goal; SMART Reinforcement – positive: reward; punishment: bad response, opposite of positive; extinction: no response; negative: take away penalty -> behavior increases Equity – value of reward is not relevant, ratio is; compare with a comparative other; not necessarily about enough or fairness; I/O = I/O (input/outcome, relative to somebody else) Expectancy theory – driven by outcome; effort -> performance -> outcome; outcome has to be known, relationships between steps have to be stable How do these theories work and how are they different? Chapter 16: Control What is control? Monitoring activities -> accomplished as planned, correcting significant deviations, modifying the plan The control Process 3-step process: measure actual performance -> compare actual performance against standard -> correct deviations or inadequate standards a. What we measure – more critical than how we measure; wrong criteria can result in dysfunctional consequences; VALIDITY and RELIABILITY b. Comparing – significance of variation; range of variation; continuous improvement -> acceptable error rate is zero c. Managerial action – doing nothing / correcting actual performance / revising standard What are feedforward, concurrent and feedback controls-give examples a. feedforward – before the activity, anticipate problem b. concurrent – during the activity, correct as they happen c. feedback – after the activity, correct after occurence
