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Question, Q2 (Position statement, Performance statement) - Coggle Diagram
Question
Block 2
Taylor and scientific management
Design individual tasks to be as efficient as possible
A business facing high points of inefficiency or a manufacturing company with inefficiency causing wasted resources looking to simplify the process
Theories of motivation
Why do people do what they do
A company designing a job to improve staff turnover
The job characteristics model
Splits up the forms of motivation and what causes the types of motivation
A company with a high employee turnover redesigning jobs to improve employee motivation/hapiness
A company facing lower productivity looking for cheap ways to improve employee output through motivation looking to redesign a job role
Positive
.
Boosts intrinsic motivation
reducing the reliance on external rewards to motivate employees reducing the cost of motivation
Easy to implement
-the 5 core traits being listed allows for easy comparison within a workplace making it easier to see where to successfully implement it
Morale boost
-Improves employee retention reducing hiring costs but also allows for improved performance and more experienced employees especially for any company specific roles
Negative
.
Individual differences
Assumes everyone responds the same or has the same preferences in working patterns for enrichment e.g some people prefer repetitive tasks
Ignores none work problems
- employees motivation can be impacted by work factors outside the task itself which restricts the impact of any changes
Block 5
The equilibrium price
The price where supply and demand is equal
A new company looking to sell a new product working out what price to sell their product to maximise revenue, they may do this by launching ads showcasing different prices and basing their data on the interactions received on each advert
Q2
Position statement
Shows liquidity
Ensures prepared for any external problems that can impact the financial health/security
Net worth
Able to assess current financial position
Debt to asset ratio
Identify problems in financial makeup earlier before issues appear
Performance statement
Shows the net worth
Financial change over time
Allows comparison over time to better achieve goals
Better see holes in spending causing issues in financial growth