People matter. They make the difference between a failing, a good and an amazing company.
Main Managerial Functions
wontfix get more from BS Business and Society slides
- Planning
- settings goals
- developing strategies
- Organizing
- structure
- tasks
- resources
- Leading
- vision of business
- explaining routines
- motivate people
- clarify processes, policies
- Controlling
- measuring performance
Tasks of HR
- job analyses
- define position
- recruitment
- selecting people
- placement and onboarding
- training and development
- remuneration
- communicate and appraise performance
- evaluate
People do not have concrete measurement statistics, they need to be evaluated differently than products and services.
A complex and difficult task.
Motivation Theories
Maslow’s hierarchy: Bottom to Top list
- adequate compensation
- job security
- social contacts, team work
- recognition for achievements
- work itself, creativity, responsibility
Work should be a challenge, but not overwhelming.
VRoom’s expectancy theory
VRoom's expectancy theory
Definition
Do I have the abilities to perform the task? → no: no motivation → yes: Is it worth the outcome → no: no motivation → yes: Motivation
Example
Personal Factors
- goal (degree, etc)
- like to study
- values (want to learn more)
Situational Factors
- action
- potential outcomes (degree)
- potential consequences (parents being disappointed)
Person-Situation Interaction
Action → Outcomes → Consequences
Link to original
- important that actions yield the expected outcomes and consequences
- high action-outcome expectancy
- high outcome-consequences expectancy
- low situation-outcome expectancy