BUS 160 Lecture Notes - Lecture 6: Theory X And Theory Y, Swot Analysis
Document Summary
Maslow"s hierarchy of needs theory: as each need is met, people become motivated to meet the next need in the pyramid. Self-actualizatio(cid:374): (cid:374)eed to reach o(cid:374)e"s fullest potential. Expectancy theory: relationship among effort, performance and reward, performance must be achievable and rewards must be actual. Equity theory: outputs must be fair when considering inputs, perception of fairness when workers compare their efforts to those of coworkers and then compare financial and intangible rewards. Strategic planning: establishes a broad long term vision for the company. Tactical planning: applies strategic plans to specific functional areas. Operational planning: applies tactical plans to daily, weekly, and monthly operations. Contingency planning: for unexpected events, involving a range of scenarios and assumptions. 1- defi(cid:374)i(cid:374)g the (cid:862)(cid:373)issio(cid:374)(cid:863) or the orga(cid:374)izations purpose, values, and core goals. 2- evaluating the competitive position using a swot analysis. 3- setting strategic goals or benchmarks to measure performance. 4- creating strategies or action plans to achieve goals.
