1. HW check: Top Management The Board of Directors Top Management:Board of Directors 1.set1. combined 2.achieve2. supported 3.allocating 3. defined 4.employed4. appointed 5.follow5. supervised 6.balance6. reviewed 7.develop7. constituted 8.establish8. attacked 9.deal with 10.require

2. PEOPLE MANAGEMENT Motivating people “If we always hire people who are smaller than we are, we shall become a company of dwarfs. If we always hire people who are bigger than we are, we shall become a company of giants.”(D.O.) “Hire people who are better than you are, then leave them to get on with it. Look for people who will aim for the remarkable, who will not settle for the routine.”(David Ogilvy) “The secret of good business is good people who are given a lot of trust and freedom as well as the right to make mistakes.” (Sir R. Branson)

3. Big or small company? → MK, p 25 What are your career goals? To be able to live on my salary. To get a secure job. I hope I’ll be successful and able to improve Croatian economy. I want to earn enough money to afford all I want & need. I expect to be sucessful as a result of doing what I like. My goal is to excel in my work and be happy. I’m ambitious, willing to learn a lot and someday work in a bank, or finance. I have an interest in stock markets, investment funds and futures and I think I’ll try to pursue something in this sector. To suceed in a fair and legal way. A good job where I can progress. I’d like to find a well paid job.→ MK, p 15

4. Theories of Work and Motivation Theory ___ “traditional” lazy money avoiding responsibility threats anxiety direction controlrewards lower order needs Theory ___ integration responsibility self-actualisation creative original potential “progressive” self-control higher order needs 1. Douglas _ _ _ _ _ _ _ _ (The Human Side of E _ _ _ _ _ _ _ _ e, 1960) Criticism of Theory ____ (Abraham M _ _ _ _ _): - too excessive demands for r__________ & a_________ - although they might want to be given responsibilities at work all people need s________ & c___________

5. Theories of Work and Motivation Theory X “traditional” lazy money avoiding responsibility threats anxiety direction controlrewards lower order needs Theory Y integration responsibility self-actualisation creative original potential “progressive” self-control higher order needs 1. Douglas McGregor (The Human Side of Enterprise, 1960) Criticism of Theory Y (Abraham Maslow): - too excessive demands for responsibility & achievement - all people need security & certainty HW, MK p 17 – write a summary of Theories X and Y

6. Theories of Work and Motivation 2. Frederick H_ _ _ _ _ _ _ (Work and the nature of man, 1959) Two factor theory of job satisfaction:Two factor theory M_____________S_____________ -Ach_ _ _ _ ment- Pay and b_ _ _fits -Re _ _ _ _ _ ion- Labour r_ _ _ _ions -Work it _ _elf- Job s_ _ _ _ _ty -Re _ _ _ _ _ _ _ _ _ity- Working conditions -Pr_ _ _ _ _on- Status -Gr_ _ th Criticism: There will always be bo_ _ _ g, repe_ _ _ _ve jobs! Solutions: t _ _m responsibility, rot_ _ _ _ g repetitive tasks, corporate c_ _ _ _ _ e

7. Theories of Work and Motivation 2. Frederick Herzberg (Work and the nature of man, 1959) Two factor theory of job satisfaction:Two factor theory MOTIVATORSSATISFIERS -Achievement- Pay and benefits -Recognitionion- Labour relations -Work itself- Job security -Responsibility- Working conditions -Promotion- Status -Growth Criticism: There will always be boring, repetitive jobs! Solutions: team responsibility, rotating repetitive tasks, corporate culture → MK, Comprehension and Vocabulary

8. HOMEWORK due Dec 20: ALL: Create exercises on: 1.Management 2.Company Structure 3.Motivation At least 1 exercise (with the key) for each topic. - look for the types of exercises on my web site - don’t exaggerate with paragraph-writing tasks Email the exercises to team leader (Mon 20/12/11) TEAM LEADER: a) email the collection of tasks to me (Wed 22/12/11)