COMMERCE 1BA3 Lecture Notes - Lecture 10: Motivation, Profit Sharing, Merit Pay
2 Mar 2018
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Commerce 1ba3 lecture 10 - motivation practice 1. Understand the connection between goal setting and management by objectives. Discuss how to tie pay to performance on production jobs and the difficulties of wage incentive plans. Elaborate and because it"s elaborate, it"s time consuming. Ongoing program designed to facilitate goal establishment - short-term goals are more motivational than distant goals. 6 stages of mbo (management by objectives) process. Well-designed mbo programs do result in productivity gains. Lacks top management commitment to a time-consuming and elaborate process. Overemphasizes measurable objectives at the expense of qualitative objectives. Performance review becomes punitive - punishment for failure to achieve objectives. If not motivated by work, the worker will only do what they need to not get fired and to avoid getting hassled, not going above expectations. It"s not only about getting paid, it about the lifestyle one can get out of it.
