accountable in an attempt to promote ethical behavior within public companies. Henri Fayol – developed the first general theory of management. 5 primary functions: planning, organizing, leading, coordinating, and controlling. They have since been reduced to four (plan, organize, lead, control)
LMX theory (Leader-Member Exchange) – relates to group maintenance behaviors. Group maintenance behaviors such as trust, mutual respect, mutual loyalty, and open communication form the basis of satisfying personal relationships with group members. Vroom model – Situational model proposed by Victor H Vroom that helps leaders decide how much participation to use in decision making. Decide, consult individually, consult the group, facilitate, and delegate are the five possible decision styles. Path-goal theory – situational theory developed by Robert House that assesses characteristics of the followers and environmental factors before determining the appropriate leadership behavior. Directive, supportive, participative, and achievement-oriented leadership. Vroom’s expectancy theory – motivation theories Expectancy – increased efforts will lead to achieving performance goals Instrumentality – good job performance will lead to a specific outcome Valence – the value an employee places on a specific outcome Maslows Hierarchy of needs – physiological, safety, social, ago, self-actualization Alderfer’s ERG theory – three basic sets of needs: existence, relatedness, and growth McClelland’s needs – three dominant needs: achievement, Affiliation, and Power Bureaucratic control – formal rules, regulations, authority, such as budgets and performance appraisals. Market control – guides with pricing mechanisms and economic information. Clan control – norms, values, trust with the assumption that the organization and the employee share the same interests. Best in environments where employees are empowered in decision-making. There is NO specific way to complete a task. Six Sigma – feedback control tool used in manufacturing that aims to reduce defects. Budgets – control process that involves investigating what a firm has done. Feedforward, concurrent, and feeback controls. Planning – involves 6 basic steps from the basic planning process. Situational analysis Alternative goals and plans (Single-use, Standing, & Contingency plans) Goal and plan evaluation Goal and plan selection Implementation Monitor and control 3 levels of planning.
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