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Chapter 10 (Telecommuting ((Advantages:, For employees:, Increased…
Chapter 10
Telecommuting
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- Higher levels of happiness and personal satisfaction
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- Lower real estate and travel expenses
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- Flexibility to access larger labor pools
Employee Empowerment
Empowerment – making employees more involved in their jobs by increasing their participation in decision making.
For empowerment to work effectively, managers should set expectations, communicate standards, institute periodic evaluations, and guarantee follow-up
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- Increased job satisfaction
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- Increased organizational commitment
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- Resistance on the part of management
- Distrust of management on the part of workers
- Inadequate training of employees
- Poor communication between levels of the organization
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Employee Ownership
Employee ownership – a situation in which employees own the company they work for by virtue of being stockholders
Examples: Employee-owned companies include Publix Super Markets, Harpoon Brewing, and Davey Tree.
As a means to motivate executives and managers to feel invested in the company, some firms provide stock options as part of the employee compensation package.
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If the firm does well and its stock price rises past the set price, the employee can exercise the option and sell the stock to cash in on the company’s success.
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Types of teams
Problem-solving team – a team of knowledgeable employees brought together to tackle a specific problem
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Cross-functional team – a team of individuals with varying specialties, expertise, and skills that are brought together to achieve a common task
Virtual team – a team consisting of members who are geographically dispersed but communicate electronically