RSM100Y1 Chapter 9: RSM100Y1Y Chapter 9.docx
Document Summary
Empowerment giving employees shared authority, responsibility, and decision making with their managers. Keep employees informed about the financial performance: better able to direct their work efforts to make use of company resources, risk: information reach competitors. Giving them broad authority to make decisions. Linking rewards to company performance (ownership of company) Employee stock ownership plans: stocks of company as pension plan, motivated to work harder. Stock options: rights to buy a specified amount of company stock at a given price and time. Work teams relatively permanent groups of employees with complementary skills who perform the day-to-day work of organizations. Do what their name suggests - the daily work. Problem-solving team a temporary combination of workers who gather to solve a specific problem and then disband. Comprise knowledge workers who meet to solve specific problems then disband. Self-managed team a work team that has the authority to decide how its members complete their daily tasks.
