Flashcards
Business Unit 2.4
Cards in this deck (11)
- 1What is Herzebergs theory?Herzebergs two factor theory looks at the hygiene factors that must be met in order to prevent dissatisfaction and motivators. The motivators are job empowerment, job enrichment, and job enlargement.
Limitations: Does not apply to all workers in low skilled and low paid work, and some employees may not want job enrichment as it involves extra responsibilities. - 2What is Maslow's theory?Maslows hierachy of needs outlines 5 levels from satisfying physiological needs to self-actualisation. PSSES (Physiological, Security, Social, Esteem, Self-actualisation).
Limitations: Difficult to measure, what drives people once they reach self-actualisation, assumes people are motivated in this chronological order. - 3What is Daniel Pink's theory?Daniel Pink's drive theory suggests that people in modern society are motivated by 3 main things: autonomy, mastery and purpose. Distinguishes between type X (extrinsic) and type I (intrinsic) and type I out performs type X.
Limitations: Theory does not apply to across all professions and cultures. - 4What is Winslow Taylor's theory?Winslow Taylor's scientific management theory suggests that division of labour must be used to increase efficiency and that piece by pate rate systems should be used as workers are primarily motivated by money.
Limitations: Does not acknowledge that workers can be innovative and independent thinkers, and ignores the non-physical contributions of workers. - 5What is Adam's Theory?Adam's Equity theory suggests that each worker should receive remuneration that reflects their efforts. The ratio of input must equal to the ratio of outcomes. The degree of equity impacts the workplace on 3 different levels: equity norm, social comparison, and cognitive distortion.
Limitations: The concept of fairness is highly subjective, theory ignores the cultural/demographic variables that affect the perception of fairness, and there is a limit to the scales of equity. - 6Define salariesSalaries are fixed financial rewards paid on a monthly basis.
Limitations: difficult to reward those who are more productive, and not much incentive to work harder. - 7Define wagesWages are financial rewards for labour services usually expressed at an hourly rate (hour rate) or as a measurable quantity (piece rate).
- 8Define commissionCommission pays workers based on a percentage of sales or output contributed by a worker.
Limitations: competitive environment, tasks can be repetitive, and does not meet security needs as workers do not know how much they will be paid. - 9Distinguish between profit related pays and performance related pays.Profit related pays are related to paying based on the amount of profit from the firm.
Performance related pays are paid by the completion of a goal or project. - 10Define Employee share ownership schemesRewards employees by giving or selling them shares in the company for a discounted price.
- 11Define fringe paymentsRefers to the additional financial benefits such as insurance, discounts, or allowances.
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- Business Studies Flashcards on Business Unit 2.4, created by Sophie May on 30/01/2017.
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- Sophie May
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