Luggers Vs Butcher(sa neta)
16 Pages

Luggers Vs Butcher(sa neta)

Course Number: MGT 525, Spring 2011

College/University: University of Belgrade

Word Count: 5078

Rating:

Document Preview

Introduction The main operation of Food Merchandising Corporation located in New Jersey was to stock certain goods (packaged meats) and ship them to various stores. In order to prepare the meat for shipment to the intermediaries, it had to be unloaded and butchered. The employees were broken down in to two sets (luggers and butchers) in order to perform the tasks. The luggers were responsible for unloading...

Unformatted Document Excerpt
Coursehero >> Serbia >> University of Belgrade >> MGT 525

Course Hero has millions of student submitted documents similar to the one
below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

The Introduction main operation of Food Merchandising Corporation located in New Jersey was to stock certain goods (packaged meats) and ship them to various stores. In order to prepare the meat for shipment to the intermediaries, it had to be unloaded and butchered. The employees were broken down in to two sets (luggers and butchers) in order to perform the tasks. The luggers were responsible for unloading the tremendously heavy meat while the butchers were responsible for butchering the meat once it arrived within the warehouse. When the company became unionized, the workers were given an option as to which position they preferred. This was done according to seniority. Most of the older men chose to become butchers because of the physical labor required to lug the meat and because of the higher wage associated with the job. Therefore, the others were slated to be luggers. Consequently, two different types of individuals became associated with the two different types of jobs (Buller & Schuler, 2003, p.317). Major Issues Some of the workers at FMC warehouse became disgruntled because of a plethora of reasons. The major issues fall under the categories leadership, motivation, and conflict in the workplace. Leadership Good leadership practices are vital in maintaining successful organizations. Leadership is defined as the process by which an individual influences others in ways that help attain group or organizational goals. In O'Connell's article, Smile, Don't Bark, in Tough Times (2009), he questions the reaction of managers in critical times: If your team is underperforming, it's crunch time, and everyone is stressed. Will you get better results by coming down hard on your employees or by cheering them on and trying to foster cooperation? The cheerleaders will generate better research by Gerben A. van Kleef, coauthors. That's because mental periods make team members more apt than to think carefully about his or her message. performance than the despots, according to new of the University of Amsterdam, and five fatigue and time pressure during stressful to simply react to a leader's mood Effective leaders tend to utilize both position and personal power. Position power is power that has been given to an individual to achieve organizational goals. This type of power has four bases: legitimate, reward, coercive, and information. On the other hand, personal power is associated with an individual's characteristics and distinctive behaviors. Personal power encompasses rational persuasion, expert power, referent power, and charisma. Mr. Abrams utilized position power with the butchers and they did not respond well to that leadership style. The butchers in the warehouse were particularly wary of Mr. Abrams and Lyle because of their micromanagement leadership style. When Mr. Abrams became manager two years ago it was his policy to use close personal supervision of the men to ensure efficiency (Buller & Schuler, 2003, p.318). The butchers felt they were being watched all of the time and perceived that they were being micromanaged. Micromanagement/Management by Walking Around Managers who cannot or will not delegate often resort to micromanagement, LeaderMember Exchange Theory, also called LMX or Vertical Dyad Linkage Theory LMX. Researchers conclude that managers who are reluctant to delegate become possible micromanagers, are those that show a lack of confidence in subordinates' capabilities, see tasks as being too important to be left to subordinates, or view the tasks as too complex or technically difficult. Being that the butchers were experienced workers and had been with the company for many years, there was no need for Mr. Abrams to micromanage them, "the eight butchers were engaged in the skilled practice of butchering meat. Most of them had been with the company for many years (Buller & Schuler, 2003, p.317)." The alternative to micromanagement would be Managing by Walking Around. Management by Walking Around is an unstructured approach to handson, direct participation by the managers in the workrelated affairs of their subordinates, in contrast to rigid and distant management. The time spent needn't be lengthy; what's important is frequency. Short, unannounced, with only one or seemingly random visits send a powerful message. By aiming to talk two people who are reaching a critical juncture in their project, visit short while still communicating the project's importance. walking around" (MBWA) also benefits managers by providing managers can keep the This "management by unfiltered, realtime information about a project's progress that won't be mentioned until much later, if at all, in formal project reports. By showing up unannounced, management samples the pulse of the project and can satisfy itself that all is well, or can offer help if there is trouble (Smith & Reinertsen,1998, p.68). Moreover, the butchers took the brunt of Mr. Abrams' close supervision mainly because they were confined to one spot, and were easy to observe (Buller & Schuler, 2003, p. 318). This was really unsettling to the butchers, because they were accustomed to "little games... developed to break up the boring routine (p.318)." Groysberg and McClean in their article "Are Leaders Portable" studied 20 different CEO's and found that neither position or personal power alone have an effect on leadership results. However, they stated that leadership success was contingent upon the situation. For instance, they concluded that what worked for an executive at one organization did not work at another organization unless there were identical challenges to confront, which is practically unheard of. To deal effectively with these types of workers, it would be advisable for Mr. Abram to self exam himself and the personalities of his workers. In order to be a success and effective leader, the manager must be cognizant of self awareness, perception and personality. A central element of any leadership development program is the improvement of self knowledge. This is based on the principle that a greater understanding of self and personal preferences will aid the leader in optimizing focus when dealing with intricate challenges and choices. Selfawareness and selfmanagement are important attributes for leadership success. Equally, a leader can gain valuable insights by learning about the way in which his or her strengths and weaknesses are perceived by others in the workplace. In particular, leader, he or she can offer valuable perceptions (Sieff, 2009). Individuals possess many different personalities. The most widely used parameter of measuring personalities is The Big Five Dimensions of Personality (MyersBriggs Type Indicator). Fitzgerald and Kirby (1997) note that the MyersBriggs Type Indicator instrument has become an important tool to assist in valuing and understanding how best to take advantage of diversity and understand and value differences. The components of the big five are conscientiousness, extraversionintroversion, agreeableness, emotional stability, and openness to experience. Additionally, individuals display a wide array of emotions and moods. This will determine how an individual work. It is important to know how the different personalities, emotions and moods of people; because it can affect an organization's bottom line and gives insight to our own behavior. In conjunction with learning about the personalities, it is important to be in tune to work related attitudes. According to Block (2003), leadership skills can be considered in two broad categories: since the linemanager is tasked with the responsibility for managing the performance of the Firstly, there are those skills concerning what happens within the organization. These include managing and motivating people, organizing staff into effective structures, communicating direction, and developing or recruiting the skills required for organizational effectiveness. Then there are the skills needed to notice, understand and may respond to the various external factors that affect the organization. These factors include developments in the areas of technology, government, environment, society and the economy. They are also likely to include global trends, shocks and uncertainties, as well as competitor responses to the external environment. Possible Solutions and Recommendations for Leaders Mr. Abrams and his management team could possibly take a step back and look in depth at their management style. It would be worthwhile for them to take some extensive management classes and selfassessments for the entire staff. An understanding of personality type in relation to organizational situation is important effective self management in the leadership role. Managers with an understanding of the different personality type preferences should consider which behavior preferences are most likely to help to optimize focus in particular circumstances, and also which behavior preferences may increase difficulty. Additionally, Mr. Abram should keep in mind that that the MyersBriggs Type Indicator instrument measures only preferences, not aptitudes or capabilities. Managers and supervisors, regardless of personality type, have the chance to enhance their leadership focus through a conscious application of the appropriate personality and behavior attributes. In addition, Mr. Abrams could determine which leadership model would work best to bring about change with the butchers. Hersey and Blanchard's Situational Leadership encompasses selling, telling and delegating. With the butchers, the delegating aspect would work best because they are comfortable with their jobs and skilled. However, the process and responsibility has been passed to the group and Mr. Abrams could still stay involved to monitor the progress. This would be a winwin situation for all involved. Motivation and rewards Motivation at FMC was down due to a number of reasons. The butchers felt a sense of inequity because their concerns were not being addressed. They were aware of the favoritism shown to the luggers, their apparent rivals. Josh was the union representative. He had built up a great friendship with Carl, the shop steward, and the other luggers. His relationship with the butchers, however, was strictly on a business basis. Usually this meant that the butchers complained about the luggers, but nothing really important was done about it (Buller & Schuler, 2003, p.318). Moreover, the luggers were not monitored or supervised the way that the butchers were and had more control over Mr. Abrams. The butchers worked in one spot while the luggers could work in different locations within the warehouse, "The luggers were harder to watch, being more spread out, and they also managed to gain some control over Mr. Abrams. He knew that an ill timed remark or too much supervision would only result in later slowdowns by these men (p.318)." This type of treatment by management contributes to employees lack of motivation and in turn set mangers up to fall short. In Manzoni & Barsoux's article entitled, Are Your Subordinates Setting You Up to Fail? (2009) they state that bosses make things worse by this mistreatment of employees. Subordinates can also misconstrue the actions of their bosses. This can happen to new and established bosses alike. New Bosses: Subordinates pay close attention to how their boss behaves, not just toward the team collectively, but especially toward them as individuals. They are on the lookout for indications of their relative standing within the group and how well they're doing. They watch their boss interact with their colleagues. They notice who the boss spends time with, what the boss says or does not say. This extreme vigilance, particularly early on, can encourage subordinates to make too much of casual comments, rushed feedback or perceived slights. Routine oversights -- such as the boss's failing to follow up on a suggestion or remarking on a success without mentioning everyone who contributed -- can prompt speculation that the boss is a "phony," a "hardass" or "plays favorites." In their rush to protect themselves from threats, subordinates may discern false or exaggerated patterns in the new boss's behavior. Such snap judgments reflect the "fundamental attribution error," where people when explaining the behavior of others, while underestimating situational factors. Motivation has been defined as the process of arousing, directing, and maintaining behavior toward a goal. Arousal has to do with the drive or energy behind one's actions. Directing involves the choice of behavior made. Maintenance encompasses one's persistence, their willingness to continue to exert effort until a goal is achieved. At one time, motivation was tend to latch onto and overestimate dispositional or personalitybased factors not an issue with the butchers as they were able to compensate for the monotony of their work, "the tedious boredom of their job was somewhat mitigated by these mutual activities and an atmosphere of good humor usually prevailed in their corner of the warehouse ((Buller & Schuler, p.318). However, Mr. Abrams has to find a way to maintain the butchers' behavior towards the goal of getting the meat butchered and sent out to the stores on time. If not, the butchers could rebel and walkout, something they were taking into account, "despite their innate conservatism and procompany attitude, they seriously considered a massive walkout to get their grievances heard (p.320)." Moreover, in the article "The Leadership Mystique" the author, Kets de Vries, asserts that leadership contains a complex mixture that involves three factors: leader, follower, and situation. And, they all play important roles in the overall success of the organization. Additionally, the writers claim that leaders must know how to get people motivated enough to carry out the firm's vision and mission. This means that leaders should also know how to inspire others. When people are inspired, they are oftentimes more productive. Bosses trigger this dynamic inadvertently through a combination of premature labeling ("I know I've been working with him for only three weeks, but it looks like he won't be very effective"); overmonitoring; and cognitive biases (expecting the employee to fail, the boss looks for places where the employee is underperforming and attributes the employee's successes to external elements) (2009). In order to get the workers motivated, Mr. Abrams should understand the different motivations that drive each employee. It is important to recognize that individuals are motivated differently and quite often it is complex to know what motivates employees (Mishra & Gupta, 2009). In an increasingly diverse business environment, managers must be able to navigate through the thicket of habits, gestures, and assumptions that define their coworkers' differences (Early and Mosakowski, 2004, p.139). Companies that help their employees in this quest are certain to reap the benefits. In fact, companies that actively strive to meet the needs of their employees attract and retain the best people and motivate them to do excellent work. Some insight on how this may come about is by understanding Maslow's hierarchy of needs model. The idea of this model is that people will not be healthy and well adjusted unless their needs are met (Gawel, 1997). There are five needs according to the theory, which range from lowest to highest. They are physiological (need for air, food, water, and shelter); safety (need to operate in an environment that is physically and psychologically safe and secure, one free from threats of harm; social (need to be liked and accepted by others); esteem (need to achieve success and have others recognize it); and self actualization (need to work to become all they are capable of being). Abrams could learn a lot about the butchers utilizing this model as they are very family oriented and sociable group, "for the most part they were family men with many offthe job responsibilities...they had a high number of social activities off the job, such as group picnics, bowling, golf, et cetera (Buller & Schuler, 2003, p.317). Therefore, their needs, according to Maslow's theory, would be safety and social. On the other hand, the luggers' needs would more than likely be esteem and self actualization, "most of them were married, but treated their home responsibilities differently... most of the luggers would spend their nights working a parttime job (p. 318). Herzberg holds a somewhat different view about motivation. Herzberg believed that true motivation comes from within a person and not from KITA factors. His theory is two dimensional. He concluded that factors such as company policy, supervision, interpersonal relations, working conditions, and salary are hygiene factors rather than motivators. According to the theory, the absence of hygiene factors can create job dissatisfaction, but their presence does not motivate or create satisfaction (Gawl, 1997, 5(11)). Alternatively, he believed that job satisfaction: achievement, recognition, the itself, work responsibility, and advancement were associated with longterm positive effects in job performance while the hygiene factors consistently produced shortterm changes in job attitudes and performance, which rapidly fell back to its prior level. William Reif's article, "Intrinsic versus extrinsic rewards: resolving the controversy" supports the belief that all workers do not perceive organizational rewards alike and that certain needs are much more prominent with some groups than others (Reif, 1975, p.9). Moreover, the statement below further clarifies the above mentioned point: If one were to draw a general conclusion from the findings it would be that younger, more highly educated workers who receive acceptable salaries and are in higherlevel jobs are likely to be more motivated by intrinsic than extrinsic rewards and are prime candidates for job design/enrichment. Taking a look at the other end of the scale, older, less educated workers in relatively low paying, low status jobs are probably more concerned with the extrinsic determinants of job satisfaction and may respond more readily to working conditions, job security, compensation and fringe benefits (Reif, 1975, p.9). Humphreys and Einsteins article "Leadership and Temperament Congruence: Extending The Expectancy Model of Work Motivation" poses another possibility surrounding motivation: The work of Leonard et al. (1999) has given rise to a concept of motivational development. The idea being that individuals might move through stages of motivational development whereby initial behaviors may be motivated by simple enjoyment but maturity and experience may lead that individual to elicit certain behaviors for things like status or personal fulfillment. Although no empirical data exists to support this idea at present, we believe it has great intuitive appeal such that individual psychosocial growth must be included to fully represent individual needs within the work motivation process. They believe it has great intuitive appeal such that individual psychosocial growth must be included to fully represent individual needs within the work motivation process worker's attitudes changing as they mature (2004, p.65). In order for FMC to continue to motivate and retain their employees, the management team must be cognizant of impact of motivational development. Locke's "Linking Goals to Monetary Incentives" brings it all together by introducing four different methods (Stretch Goals with Bonuses for Success, Multiple Goal Levels with Multiple Bonus Levels, A Linear System, and Motivate by Goals but Pay for Performance) of combining goal setting with incentives. He claims that when all four goals are achieved then employees will gain a greater satisfaction with their jobs. In addition, he identifies the pros and cons of each of the four methods: * "Stretch" Goals with Bonuses for Success--This method assigns people difficult (or "stretch") goals. Individuals receive a substantial bonus if the stretch goal is met, and they receive no bonus if the goal is not met. * Pros * Employees have strong incentives to attain the goals. * There is no ambiguity about exactly what must be accomplished to receive the bonus. * Cons * There is considerable incentive to take risky "shortcuts" to try to get the bonus. * There is considerable incentive to think shortterm and suboptimize longterm results in order to receive the bonus. * There is considerable incentive to cheat in order to receive the bonus. * It can be very demoralizing for hardworking employees who barely miss achieving the goal and get no bonus at all. * Multiple Goal Levels with Multiple Bonus Levels--This method uses the approach that higher levels of bonus are received as higher levels of goals are attained. * Pros * Competent employees receive some level of bonus for their achievements. * There is less temptation to take risky short cuts or to cheat. * Cons * Employees may be less motivated to try for the highest level of performance. * There is no external motivation to exceed the top goal. * A Linear System--In this method, the amount of bonus received is in proportion to the exact degree of performance achieved. Even small increments in performance improvement get some sort of reward. * Pros * There is no "loss" to the employee of just missing a goal level. * There is even less temptation to take risky short cuts or cheat than in the multiple goals method. * There is no upper limit on the bonus. * Cons * Some people would not be motivated to "stretch". * Some companies would have trouble compensating everyone for their achievements. * A meaningful linear system may be hard to design for some jobs, making certain employee perceive the system as unfair. * Motivate by Goals but Pay for Performance--in this method, employees are given specific and challenging goals, but the level of bonus for the actual results is not set in advance. The actual bonus takes into consideration the full context of the situation in which the employee performed. * Pros * The flexibility of the method takes into consideration unanticipated events that may affect performance. * The comprehensiveness of the method looks at all relevant factors. * Cons * The boss must be knowledgeable about the full context in which the employee is performing. * The boss must be objective to minimize favoritism or bias. (Locke, 2004, pp. 130 133). The author concludes by providing a fourstep plan to set up effective bonus systems. In Step 1, determine exactly what you want people to do or accomplish. In Step 2, set clear and challenging goals for desired outcomes. In Step 3, determine which goals will need to be integrated with other parts of the organization. In Step 4, pick the appropriate type of bonus, with full awareness of the pros and cons. Possible Solutions and Recommendations The development of successful leadership/coaching skills would have been a solution to motivating the workers. In the article, Executive coaching as a transfer of training tool: Effects on productivity in a public agency: Research demonstrates the dramatic effects of oneonone executive coaching training enhancing participants' self competencies that they could potentially managerial jobs. Although the training phase as a transfer of training tool. As is typical of many management programs today, the training phase focused on awareness, and knowledge of managerial use in their current supervisory or emphasized the importance of developing indicants to track progress, none of the trainees systematically or quantitatively measured productivity after training alone. However, after trainees underwent oneonone executive coaching, archival data were collected indicating that training alone increased productivity by 22.4 coaching, yielded percent. Most importantly, training, when augmented with productivity increases almost four times the level percent) (Olivero, Gerald, Bane, Denise & achieved by training alone (88.0 Kopelman, Dale. (1997). Mr. Abrams could implement the three components of motivation 1) expectancythe belief that one's efforts will affect performance 2) instrumentalitythe belief that one's effort will affect performance 3) valencethe perceived value of the expected rewards. Also, goal setting, one of the most important motivational forces operating on people in organizations would have been extremely helpful in motivating the unmotivated employees. The goal setting theory states that when people are challenged to meet higher goals, they assess their desire to attain the goal. Introducing an incentive plan would also help motivate the workers, "An incentive plan that pays workers for what they produce, and a policy that promises no layoffs, are responsible for high production rates (Wiley, 1993, p.86)." In order to motivate, keep satisfied and productive employees, managers must know which dimensions of the job are most important and most satisfying to employees (Mishra & Gupta, 2009). Managing Conflict The luggers and the butchers encountered conflict among their groups mainly because of poor organizational design. The luggers were allowed to use a rail system they created to make their job easier "...Brent and Terry began to think of developing a system of portable rails that would be adaptable to the large variety of freight cars which came to the warehouse. The rails were successfully designed and developed by the two men (Buller & Schuler, 2003, p.318)." In addition, the luggers formed a pay system that created more revenue for them. The enterprising luggers redesigned the rails for use on the trucks, and made it known that a tip of two dollars was in order for anyone who cared to use them. Since the railroad was making more and more use of piggyback services, the number of trucks as well as the amount of tips began to increase (p.319). The design of organizations has profound effects on organizational functioning. Organizational design refers to the formal arrangement between individuals and groups with respect to the allocation of tasks, responsibilities, and authority within organizations. The work structure among the luggers and butchers was unbalanced from the beginning. The operation of the warehouse involved two distinct functions: to unload and stock the beef, and then to butcher it. The unloading process was wholly different from butchering. It required physical strength and coordination to lift 200 lbs of beef all day. Futhermore, when the workload slowed down, the luggers were given different tasks. There was degree of variety in their work. But the butchering function was very different. The men were geographically confined to the cutting line and performed the same basic operations day after day (Buller & Schuler, 2003, p.317). This arrangement has caused the two groups to be at odds with each other. A successful organizational structure would seek to prohibit this kind of conflict. The management team at FMC must seek alternative ways to unite the two groups of workers. The leaders at FMC could use the conflict in a positive manner. Conflict does not have to lead to a hostile environment or to broken relationships, but it did with the workers at FMC. Conflict, if resolved effectively, can lead to a constructive experience for all involved. First of all, there must be an understanding of the reasons why conflicts occur. The conflict must be approached open mindedly. Using detailed strategies can lead to a successful decision for everyone associated with the conflict. The Thomas Kilmann Conflict Mode Instrument states "there are five general approaches to dealing with conflict. The five approaches are as follows: Competitive: People who tend towards a competitive style take a firm stand, and know what they want. They usually operate from a position of power, drawn from things like position, rank, expertise, or persuasive ability. This style can be useful when there is an emergency and a decision needs to be make fast; when the decision is unpopular; or when defending against someone who is trying to exploit the situation selfishly. However it can leave people feeling bruised, unsatisfied and resentful when used in less urgent situations. Collaborative: People tending towards a collaborative style try to meet the needs of all people involved. These people can be highly assertive but unlike the competitor, they cooperate effectively and acknowledge that everyone is important. This style is useful when a you need to bring together a variety of viewpoints to get the best solution; when there have been previous conflicts in the group; or when the situation is too important for a simple trade off. Compromising: People who prefer a compromising style try to find a solution that will at least partially satisfy everyone. Everyone is expected to give up something, and the compromiser him or herself also expects to relinquish something. Compromise is useful when the cost of conflict is higher than the cost of losing ground, when equal strength opponents are at a standstill and when there is a deadline looming. Accommodating: This style indicates a willingness to meet the needs of others at the expense of the person's own needs. The accommodator often knows when to give in to others, but can be persuaded to surrender a position even when it is not warranted. This person is not assertive but is highly cooperative. Accommodation is appropriate when the issues matter more to the other party, when peace is more valuable than winning, or when you want to be in a position to collect on this "favor" you gave. However people may not return favors, and overall this approach is unlikely to give the best outcomes. Avoiding: People tending towards this style seek to evade the conflict entirely. This style is typified by delegating controversial decisions, accepting default decisions, and not wanting to hurt anyone's feelings. It can be appropriate when victory is impossible, when the controversy is trivial, or when someone else is in a better position to solve the problem. However in many situations this is a weak and ineffective approach to take. Solutions to Minimize Conflicts Regularly review job descriptions; intentionally build relationships with all subordinates; conduct basic training about interpersonal communications, conflict management and delegation; develop procedures for routine tasks and include the employees' input; and consider an anonymous suggestion box in which employees can provide suggestions. Mr. Abrams and the management team could manage conflict better by using organizational justice. Organizational justice has the potential to create powerful benefits for organizations and employees alike. These include greater trust and commitment, improved job performance, more helpful citizenship behaviors, improved customer satisfaction, and diminished conflict. References Block, L. (2003). The leadershipculture connection: An exploratory investigation. Leadership & Organisation Development Journal, 24(6), 318334. Boris Groysberg, Andrew N McLean, & Nitin Nohria. (2006, May). ARE LEADERS PORTABLE? Harvard Business Review, 84(5), 92100. Retrieved from ABI/INFORM Global. (Document ID: 1027497931). Buller, P.F. &Schuler, R.S. (2003). Management Organizations and People: Cases in Management. Mason, OH: Thomson Gawel, Joseph E. (1997). Herzberg's theory of motivation and Maslow's hierarchy of needs. Practical Assessment, Research & Evaluation, 5(11). Retrieved April 28, 2010 from http://PAREonline.net/getvn.asp?v=5&n=11. Humphreys, J., & Einstein, W. (2004). Leadership and Temperament Congruence: Extending the Expectancy Model of Work Motivation. Journal of Leadership & Organizational Studies (Baker College), 10(4), 5879. Retrieved from Business Source Complete database. Kets de Vries, M.F.R. (1994). The Leadership Mystique. The Academy of Management Executive, 8(3), 7392. Retrieved April 28, 2010, from ABI/ INFORM Global. (Document ID: 2251). Locke, E. (2004). Linking goals to monetary incentives. Academy of Management Executive, 18(4), 130133. Retrieved from Business Source Complete database. Manzoni, J., & Barsoux, J.. (2009). Are Your Subordinates Setting You Up to Fail? MIT Sloan Management Review, 50(4), 4351. Retrieved from ABI/INFORM Global. (Document ID: 1786691541). Mishra, S., & Gupta, B. (2009). Workplace Motivators & Employees' Satisfaction: A Study of Retail Sector in India. Indian Journal of Industrial Relations, 44(3), 509519. Retrieved from Business Source Complete database. Nicholson, Nigel. (2003, January). How to motivate your problem people. Harvard Business Review, 81(1), 5665. Retrieved May 4, 2010, from ABI/INFORM Global. (Document ID: 272453461). O'Connell, Andrew. (2009, November). Smile, Don't Bark, in Tough Times. Harvard Business Review, 87(11), 27. Retrieved from ABI/INFORM Global. (Document ID: 1896974411). Olivero, Gerald, Bane, Denise & Kopelman, Dale. (1997). Executive coaching as a transfer of training tool: Effects on productivity in a public agency. Public Personnel Management, 26(4), 461469. Retrieved May 4, 2010, from ABI/INFORM Global. (Document ID: 25187955). Reif, W. (1975). Intrinsic Versus Extrinsic Rewards: Resolving the Controversy. Human Resource Management, 14(2), 210. Retrieved from Business Source Complete database. Sieff, G. (2009). Personality type and leadership focus: Relationship between self and linemanager perceptions. SA Journal of Human Resource Management/SA Tydskrif vir Menslikehulpbronbestuur, 7(1), Art. #123, 11 pages. DOI: 10.4102/sajhrm. v7i1.123 Smith, P., & Reinertsen, D. (1998). Faster to market. Mechanical Engineering, 120(12), 68. Retrieved from Academic Search Complete database. Wiley, Carolyn. (1993, August). Incentive plan pushes production. Personnel 72(8), 86. Retrieved from ABI/INFORM Global. (Document ID: 717918). Journal,

Find millions of documents on Course Hero - Study Guides, Lecture Notes, Reference Materials, Practice Exams and more. Course Hero has millions of course specific materials providing students with the best way to expand their education.

Below is a small sample set of documents:

University of Baltimore - FIN - 525
FIN 504: Financial ManagementLecture 1: Introduction and Mathematical ReviewCourse Material Instructor: Larry Schrenk ( lschrenk@ubalt.edu) Course Web Page ( http:/home.ubalt.edu/ntsbschr/FIN%20504/fin_ ) Textbook WebTycho2FIN 504: Financial Managem
University of Baltimore - FIN - 525
FIN 504: Financial ManagementLecture 2: Statistical ReviewThe Use of Statistics The Stochastic World Range of Financial Data Populations versus Samples Two Temporal Approaches to Measuring Financial Data At One Time (Synchronic) Over a Period of Tim
University of Baltimore - FIN - 525
FIN 504: Financial ManagementLecture 3: Time Value of Money ITheory of the Time Value of Money Why a Time Value? Components Inflation (i) Opportunity Cost RiskNOTE: I will use `cash flow' (C) as a general term to designate any flow of money positiv
University of Baltimore - FIN - 525
FIN 504: Financial ManagementLecture 4: Time Value of Money IITime Value of Money II Time Lines Annuities Perpetuities2FIN 504: Financial ManagementTime Lines The0 C0Use of Time Lines1 C1 2 C2 3 C3 4 C4 5 C5 6 C6 T CT TemporalIndices:t T 1,
University of Baltimore - FIN - 525
FIN 504: Financial ManagementLecture 5: Rate CalculationsRate Calculations Percentages What is a Rate of Change Problem? A Cacophony of Names Types of Rate Calculations Rate Conversions Averaging Rates Real versus Nominal Values2FIN 504: Financial M
University of Baltimore - FIN - 525
FIN 504: Financial ManagementLecture 6: Advanced Time Value of MoneyAdvanced TVM ProblemsThis class will focus on a series of time value of money problems that integrate the various techniques we have studied over the past five classes. We will focus o
University of Baltimore - FIN - 525
FIN 504: Financial ManagementLecture 7: Bond ValuationBond Valuation Bond Basics Bond Terminology Bond Ratings Valuing Bonds Technical Features of Bonds The Comparative Statics of Bonds2FIN 504: Financial ManagementBond BasicsBond Basics Form of
University of Baltimore - FIN - 525
FIN 504: Financial ManagementLecture 8: Stock ValuationStock ValuationStock Basics Valuing Common Stock Valuing Preferred Stock The `Implied' Required Rate of Return2FIN 504: Financial ManagementStock BasicsCommon Equity Dividend (d) Required Rat
University of Baltimore - FIN - 525
FIN 504: Financial ManagementLecture 9: Capital-Budgeting Decision CriteriaTopics Decision Rules in Capital Budgeting The Decision Rules: Payback Period Discounted Payback Period Net Present Value (NPV) Internal Rate of Return (IRR) Profitability In
University of Baltimore - FIN - 525
FIN 504: Financial ManagementLecture 10: Cash Flow AnalysisTopicsTwo General Principles Factors in Cash Flow Analysis Capital Rationing Mutually Exclusive Projects2FIN 504: Financial ManagementTwo General PrinciplesPrinciple One: Use Increments.Th
University of Baltimore - FIN - 525
FIN 504: Financial ManagementLecture 11: A Capital Budgeting ProblemThe FirmThe ABC Corporation is considering a new project that is expected to last five years. The firm is in the 38% marginal tax bracket. The project has a 17.5% required rate of retu
University of Baltimore - FIN - 525
FIN 504: Financial ManagementLecture 12: Risk versus ReturnTopics What is Risk? Three Stage Analysis of Risk Two Classes of Risk Diversification Standard Deviation and Variance as Risk Measures2FIN 504: Financial ManagementWhat is Risk?Risk and Un
Northampton Community College - ECON - 101
Management problems with Pfizer have been built up all the way to the CEO. Pfizer needed a shakeup in the company when the former CEO Hank McKinnell was fired in 2008. Jeffrey Kindler, the current CEO tried to change things around to benefit the company a
CUNY Queens - ACCOUNTING - 515
CHAPTER 2Conceptual Framework Underlying Financial AccountingSolutions to assigned & optionalEXERCISE 2-2 (a) (b) (c) (d) (e) Comparability. Feedback Value. Consistency. Neutrality. Verifiability. (f) (g) (h) (i) (j) Relevance. Comparability and Consis
CUNY Queens - ACCOUNTING - 515
CHAPTER 3The Accounting Information SystemEXERCISE 3-1 Apr. 2 Cash. Equipment. Christine Ewing, Capital. No entry-not a transaction. Supplies. Accounts Payable. Rent Expense. Cash. Accounts Receivable. Service Revenue. Cash. Unearned Service Revenue. Ca
CUNY Queens - ACCOUNTING - 515
CHAPTER 4Income Statement and Related InformationEXERCISE 4-1 Computation of net income Change in assets: $69,000 + $45,000 + $127,000 $47,000 = $194,000 Increase Change in liabilities: $ 82,000 $51,000 = 31,000 Increase Change in stockholders' equity:
CUNY Queens - ACCOUNTING - 515
CHAPTER 5 - Balance Sheet EXERCISE 5-1 (a) If the investment in preferred stock is readily marketable and held primarily for sale in the near term to generate income on short-term price differences, then the account should appear as a current asset and be
CUNY Queens - ACCOUNTING - 515
CHAPTER 6 Accounting and the Time Value of Money EXERCISE 6-1 (a) Rate of Interest 9% 2% 5% 9% 4% 3% (b) Number of Periods 9 20 30 25 30 281.a. b. c. a. b. c.2.EXERCISE 6-2 (a) Simple interest of $2,400 ($30,000 X 8%) per year X 8. . Principal. Total
CUNY Queens - ACCOUNTING - 515
CHAPTER 7Cash and Receivables SOLUTIONS TO EXERCISESEXERCISE 7-1 (a) Cash includes the following: 1. Commercial savings account- First National Bank of Olathe. 1. Commercial checking account- First National Bank of Olathe. 2. Money market fund-Volonte.
CUNY Queens - ACCOUNTING - 515
CHAPTER 8Valuation of Inventories: A Cost-Basis Approach SOLUTIONS TO EXERCISESEXERCISE 8-1 Items 2, 3, 5, 8, 10, 13, 14, 16, and 17 would be reported as inventory in the financial statements. The following items would not be reported as inventory: 1. C
CUNY Queens - ACCOUNTING - 515
CHAPTER 1Financial Accounting and Accounting Standards SOLUTIONS TO CODIFICATION EXERCISESCE1-1There is no answer to this requirement as it asks the student to register to use the Codification.CE1-2(a) The Codification Overview module illustrates thr
CUNY Queens - ACCOUNTING - 515
CHAPTER 2Conceptual Framework Underlying Financial Accounting SOLUTION TO CODIFICATION EXERCISESCE2-1(a) The master glossary provides three definitions of fair value that are found in GAAP: Fair Value-The amount at which an asset (or Liability) could b
University of Illinois, Urbana Champaign - MATH - 241
THE AREA PROBLEMtangent linesdifferential calculusrates of changeCalculus (Fundamental Theorem of Calculus)Area- Method of exhaustion (Archimedes 287 BC-212BC)(rectangle method sum of areas)- Antiderivative method - A( x ) = f ( x) (derivative of
University of Illinois, Urbana Champaign - MATH - 241
INDEFINITE INTEGRATION AS ANTI-DIFFERENTIATIONA function F is called an antiderivative of a function f on a given interval I if F ( x) = f ( x)for all x on the interval.Ex. 1) F ( x) =13x is an antiderivative of x 23F ' ( x) = x 2 = f ( x)However,
University of Illinois, Urbana Champaign - MATH - 241
INTEGRATION WITH A BOUNDARY CONDITION AND THE DEFINITE INTEGRALInitial Value ProblemsWhen we integrate a function f ( x ) we get a family of functions F ( x) + C , but sometimeswe are interested in one particular function. We can identify this function
University of Illinois, Urbana Champaign - MATH - 241
REVISITING KINEMATICS AND AREAS BETWEEN CURVESKinematicsRecall that the gradient (slope) of a displacement-time graph gives a velocity-time graph.Therefore, the area under a velocity-time graph gives a displacement-time graph and the areaunder an acce
University of Illinois, Urbana Champaign - MATH - 241
VOLUMES OF REVOLUTIONIf a curve with fixed boundaries is rotated around the y-axis, a 3-dimensional solid is formed.For example:Take the function y = x , 0 x 1 .If the curve is rotated around the xaxis, a cone is formed. We can findthe volume of this
University of Illinois, Urbana Champaign - MATH - 241
DERIVATIVES OF SIN X, COS X, AND TAN XNote: limh 0sinhcosh= 1 , and lim= 0 . Using these we can differentiate sin x . Proof uponh 0hhrequest.The derivative of sin x .dsin x = cos xdxThe derivative of cos x.dcos x = sin xdxOther trig der
University of Illinois, Urbana Champaign - MATH - 241
EXPONENTIAL AND LOGARITHMIC FUNCTIONSRational Exponentsb n = b . b1b n = nbpqqb=b=bpq=pb0 = 1b pb q = b p + q( b)qp(b )1qbp= b pqqbpqbp= b pqNote: b 0 to avoid imaginary valuesExponential FunctionsExponential function with
University of Illinois, Urbana Champaign - MATH - 241
DERIVATIVES OF LOGARITHMIC AND EXPONENTIAL FUNCTIONSxRecall y = b x = logb yy , b > 0, b 1, x RNatural log: loge x = ln xTo differentiate log and exponential functionsd[ logb x] = 1 logb e = 1dxxx ln bx>0when b = e , ln e = 1 , so we get:d[
University of Illinois, Urbana Champaign - MATH - 241
DERIVATIVES USING LOGARITHMSLogarithmic differentiation can significantly simplify the differentiation of products andquotients of many functions as well as certain exponential functions.Ex. Differentiate y = 3x 1x +1Take the ln of both sides:Use i
University of Illinois, Urbana Champaign - MATH - 241
INTRODUCTION TO DERIVATIVESTangent Slope as a Function/DifferentiationSo what happens if you are not given the specific point at which we want to find the tangent?We can find a function to define the tangent at any point on the given curve.Lets try fi
University of Illinois, Urbana Champaign - MATH - 241
TECHNIQUES OF DIFFERENTIATION SUM AND DIFFERENCEFortunately, we dont always have to compute derivates from the definition. There are somerules that make differentiation much easier.Constant RuleIf f is a constant function, f ( x) = c , then ,limh 0
University of Illinois, Urbana Champaign - MATH - 241
TECHNIQUES OF DIFFERENTIATION PRODUCT AND QUOTIENT RULESLeibniz discovered the correct formula for the derivative of a product ( fg ) .Product RuleIf f and g are both differentiable, then so is fg and ( fg ) = f g + fg , ord[ f ( x) g ( x)] = f ( x)
University of Illinois, Urbana Champaign - MATH - 241
HIGHER DERIVATIVESFinding higher derivatives (second, third, fourth, etc. derivatives) of a function is the samemethod as finding the first derivative.y = f ( x) =d dy d 2 y22 = 2 = D f ( x) = D x f ( x)dx dx dxThe first derivative can be interpr
University of Illinois, Urbana Champaign - MATH - 241
TECHNIQUES OF DIFFERENTIATION THE CHAIN RULEThere is another technique to differentiate the composition of two functions. This is calledthe Chain Rule.If g ( x) and f ( g ( x ) both exist, and F = f g is the composite function defined byF ( x) = f ( g
University of Illinois, Urbana Champaign - MATH - 241
IMPLICIT DIFFERENTIATIONSome functions are expressed explicitly in terms of another variable (y = ), but others aredefined implicitly by a relation between x and y such as x 2 + y 2 = 25.We could solve for y and then take the derivative, or we could us
University of Illinois, Urbana Champaign - MATH - 241
INTRODUCTION TO MATRICESLinear algebra is the art of solving systems of linear equations. For smaller systems, we haveused substitution, elimination, and graphing. For larger systems it is necessary to use moresystematic methods. To solve larger system
University of Illinois, Urbana Champaign - MATH - 241
ADDITION, SUBTRACTION, AND SCALAR MULTIPLICATION OF MATRICESAddition and SubtractionMatrices can be added or subtracted only if they have the same order. To add two matrices ofthe same order, simply add the corresponding elements.Ex. Thao has three st
University of Illinois, Urbana Champaign - MATH - 241
MATRIX MULTIPLICATION AND THE IDENTITY MATRIXMatrix multiplication has many purposes. To multiply two matrices, multiply the elements ofeach row of one matrix by the elements of each column of the other matrix. (Think over anddown).a bd egc hf
University of Illinois, Urbana Champaign - MATH - 241
2 X 2 MATRICES: THE DETERMINANT, IDENTITY MATRIX, AND THE INVERSEThe identity matrix is defined as the matrix such that AI = IA for all square matrices.Therefore the product of a square matrix A and the identity matrix is commutative.In essence, the id
University of Illinois, Urbana Champaign - MATH - 241
3 X 3 MATRICES: THE IDENTITY MATRIX, THE DETERMINANT, AND THE INVERSE1 0 0For a three by three matrix, the identity matrix is I = 0 1 0 . It has the same properties0 0 1as a two by two matrix, in that for a three by three matrix A, AI = IA + A .The d
University of Illinois, Urbana Champaign - MATH - 241
SOLVING LINEAR SYSTEMSAs you saw in grade 11, matrices can be used to solve linear systems of equations.Ex. Represent the system of equations in matrix form.2x + y = 43 x + 4 y = 12 1 x 4 2x + y 4 3 4 y = 1 If the first two matrices are multiplied
University of Illinois, Urbana Champaign - MATH - 241
INCREASE, DECREASE, AND CONCAVITYDefinition: Let f be defined on an interval, and let x1 and x 2 denote numbers in that interval.a) f is increasing on theinterval if f ( x1 ) < f ( x 2 )whenever x1 < x 2b) f is decreasing on theinterval if f ( x1 )
University of Illinois, Urbana Champaign - MATH - 241
RELATIVE EXTREMA: FIRST AND SECOND DERIVATIVE TESTSAbsolute maximumRelative maximumRelative minimumx0There is an open intervalx0 on which f ( x0 ) is thelargest value.The relative maximum andrelative minimum arecalled relative extrema.Theorem:
University of Illinois, Urbana Champaign - MATH - 241
APPLYING TECHNOLOGY AND TOOLS OF CALCULUSProperties of Graphs we are Interested InX-interceptsY-interceptsRelative extremaInflection pointsSymmetriesPeriodicityIntervals of increase and decreaseConcavityAsymptotesBehaviour as x Polynomials:Do
University of Illinois, Urbana Champaign - MATH - 241
RECTILINEAR MOTIONVelocity and AccelerationCalculus is most useful when we apply meanings of the derivative other than just theslope of a tangent to a curve.If we have an object moving along a straight line we call this motion rectilinearmotion. To m
University of Illinois, Urbana Champaign - MATH - 241
MINIMUM AND MAXIMUM PROBLEMSAbs. min but noabs max on ( , )ano absolute extremaon ( , )bBoth abs. max andmin on [ a, b]both an abs. max andabs min on ( , )abnone on [ a, b]Extreme-Value Theorem: If a function f iscontinuous on a finite clos
University of Illinois, Urbana Champaign - MATH - 241
TANGENTS AND NORMALSWe already know that the gradient (slope) of a curve at any point is equal to the gradient ofthe tangent to the curve at that pointThe normal is the line that is perpendicular to the tangent of a curve at a point. The gradientof th
University of Illinois, Urbana Champaign - MATH - 241
INTRODUCTION TO VECTORSA scalar is a quantity that has magnitude but no direction. You can have signed scalarquantities as well.A vector is a quantity that has both magnitude and direction.Some examples of scalar quantities are length, temperature (si
University of Illinois, Urbana Champaign - MATH - 241
VECTOR ARITHMETIC SUM AND DIFFERENCEWe can add vectors graphically or algebraically.To add vectors graphically, we add them nose to tail. If a = 2i 3 j and b = i + 4 jrepresent a + b in the plane.0 The zero vector is 0 = and for any vector a,0 a +
University of Illinois, Urbana Champaign - MATH - 241
VECTOR ARITHMETIC SCALAR MULTIPLICATION AND POSITION VECTORSIn addition to being added and subtracted, vectors can be multiplied by a scalar (non-vectorquantity). Multiplication by a scalar affects the length or magnitude of a vector, but not thedirect
University of Illinois, Urbana Champaign - MATH - 241
DISTANCE BETWEEN POINTS, MAGNITUDE OF A VECTOR, AND UNIT VECTORSTo find the distance between two points, use the distance formula:d = ( x2 x1 ) 2 +( y2 y1 ) 2- for two dimensionsd = ( x 2 x1 ) 2 + ( y 2 y1 ) 2 + ( z 2 z1 ) 2- for three dimensionsEx.
University of Illinois, Urbana Champaign - MATH - 241
SCALAR PRODUCT AND ANGLES BETWEEN VECTORSThe scalar product (dot product) of two vectors is: a b = a b cos where is the angle between the two vectors if they are drawn from the same point.The angle may be acute, right, or obtuse. The result of a scal
University of Illinois, Urbana Champaign - MATH - 241
REPRESENTATION OF A LINE IN THE PLANEWhen describing a line in two dimensions we are used to Cartesian form. This form gives adirect relation between x and y. However, there are other different ways of describing a linein two or three dimensions.Carte
University of Illinois, Urbana Champaign - MATH - 241
APPLICATIONS OF LINESIf a body has initial position vector a, and moves with constant velocity b, its position at timet0t is given by:forr = a + tb 1 3 Ex. A particle is moving along the line r = + t where t is in seconds and distance1 4 units
University of Illinois, Urbana Champaign - MATH - 241
COINCIDENT AND PARALLEL LINES AND INTERSECTION OF LINESTwo lines in space are either parallel, intersecting, or skew.Skew lines are lines that are neither parallel nor intersecting.If the lines are parallel, the angle between them is 0.If the lines ar
University of Illinois, Urbana Champaign - MATH - 241
INCREASE, DECREASE, AND CONCAVITYDefinition: Let f be defined on an interval, and let x1 and x 2 denote numbers in that interval.a) f is increasing on theinterval if f ( x1 ) < f ( x 2 )whenever x1 < x 2b) f is decreasing on theinterval if f ( x1 )
University of Illinois, Urbana Champaign - MATH - 241
RELATIVE EXTREMA: FIRST AND SECOND DERIVATIVE TESTSAbsolute maximumRelative maximumRelative minimumx0There is an open intervalx0 on which f ( x0 ) is thelargest value.The relative maximum andrelative minimum arecalled relative extrema.Theorem:
University of Illinois, Urbana Champaign - MATH - 241
APPLYING TECHNOLOGY AND TOOLS OF CALCULUSProperties of Graphs we are Interested InX-interceptsY-interceptsRelative extremaInflection pointsSymmetriesPeriodicityIntervals of increase and decreaseConcavityAsymptotesBehaviour as x Polynomials:Do
University of Illinois, Urbana Champaign - MATH - 241
RECTILINEAR MOTIONVelocity and AccelerationCalculus is most useful when we apply meanings of the derivative other than just theslope of a tangent to a curve.If we have an object moving along a straight line we call this motion rectilinearmotion. To m