Chapter 10

Chapter 10 - Manter 1 Chapter 10 Chapter 10 - Improving...

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Manter 1 Chapter 10 Chapter 10 - Improving Performance through Empowerment, Teamwork, and Communication Empowerment – giving employees authority and responsibility to make decisions about their work without traditional managerial approval and control. Employee Stock Ownership Plans (ESOPs) – plan that benefits employees by giving them ownership stakes in the companies for which they work. Stock Options – rights to buy a specified amount of the company’s stock at a given price within a given time period. ESOP STOCK OPTIONS Company-sponsored trust fund holds shares of stock for employees Company gives employees the option to buy shares of the stock Usually covers all full-time employees Can be granted to one, a few, or all employees Employer pays for the shares of stock Employees pay a set price to exercise the option Employees receive stock shares (or value of stock) upon retiring or leaving the company Employees receive shares of stock when (and if) they exercise the option, usually during a set period Teamwork – cooperative effort by a group of workers acting together for a common cause. Team – group of employees who are committed to a common purpose, approach, and set of performance goals. Work Team – relatively permanent group of employees with complementary skills who perform the day-to-day work of organizations. Self-managed team – when a work team is empowered with authority to make decisions about how the members complete their daily tasks. Problem-Solving Team – a temporary combination of workers who gather to solve a specific problem and then disband. Cross-function team – when a team is made up of members from different functions, such as production, marketing, and finance. Most often , cross- functional teams work on specific problems or projects, but they can also serve as permanent work-team arrangements
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Manter 2 Chapter 10 Team Description Problem-Solving Teams This most popular of types comprises knowledge workers who gather to solve specific problems and then disband. Management Teams Consisting mainly of managers from various functions, like sales and production, this species coordinates work among teams. Virtual Teams Characteristics of this new type of work team: members talk by computer, flying in and out as needed, and take turns as leader. Quality Circles
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Chapter 10 - Manter 1 Chapter 10 Chapter 10 - Improving...

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