- a shift in MOOD, not dollars or stats, could magnify potential for upheaval of markets worldwide

-hope-intangible

-vital clues to what financiers FEEL the future holds

-emotional words but involved with our economy

-bankesr mood swings can sometimes bring about the very scenerios they fear

-the world that is managed is a world of ppl interacting

-construction of your moods and feelings (even wall street)

-when market confidence collapses WallStreet needs strong, silent types for protection

-Bear Stern collapsed b/c ppl disbelieved in them

-whispers of weakness

-a company is only as solvent as the perception of its solvency

-management= messy b/c driven by intangibles

Bear Sterns- investment bank for corporations

-JP Morgan Chase purchased Bear Sterns for $2 a share when last year was $1.60

Warning Signs of Bad Mentor

1. Automatically assigned by personnel

2. If mentor is sabotaging, bullying, or revenge-seeking

3. Mistakes old stories for advice

Write letter to mentor that says:

1. we have learned everything we can from eachother

2. now that i am in a new role, i dont have time for a mentor

-overseeing more employees with fewer managers

-more workers assigned to each boss

-Gemesa Cookies (Mexico) has self managed teams

 -56 employees per boss

*new communication technology allows for monitoring more ppl

-increasing span of control

1. Seize oppurtunities while you can- be brave when others are scared, be scared when others are brave

2. Look overseas- go global!

3. Kepp debt low- cash is king

4. Get resume on the street- network!

How to get your sig. other to move with you or let you move (2)

1. Start discussing ahead of time to get them use to the idea

2. Provide time for spouse to look for their own opportunities-involve them in process- give them choices

-CEO of Burger King

-key is to find who the target customer is (the super fan)

-FOCUS

-dont waste time trying to meet all needs of all people

-much of your needs will come from overseas the next few years

-Christopher Peersoul

-changed jobs from factory to software

-college grads are having trouble finding jobs    

-firms slashing number of grads hiring (like finance places)    

-some that are still hiring: healthcare, I.T., fed government, energy companies, marketing

a person's individual, psychological state that influences 3 things that they put into their work:

1. direction

2. effort

3. persistance

-behavior performed to aquire or avoid something

-source: consequense of behavior

-sense of accomplishment: result, consequence

behavior that is performed for its own sake

-source: actually engaging in behavior

-sense of accomplishment: comes from doing the act itself

Tools to enhance employer's extrinsic motivation:

Maslow

(triangle shape)-heiarchy of needs

self-actualization (realize your full potential

esteem- give recognition, praise, promotions

social-good culture and atmosphere, activities

safety- job security, benefits, insurance

physical needs- living wage

*dont have to go in order in real world

*know your ppl as individuals

Tools to enhance employer's extrinsic motivation:

Herzberg

-divides pyramid into 2 categories

-top 3= motivators

-bottom 2= hygiene needs(dont motivate, but play a crucial role in motivation

-because if you do not have them there will be no motivation

-they are necessay but NOT sufficient

Tools to enhance employer's extrinsic motivation:

McClelland

3 Needs for white-collar people:

1. achievement

2. affiliation

3. power

Tools to enhance employer's extrinsic motivation:

Equality

-what i get out of my job relative to what i put in, is greater or equal to what others get out relative to what they put in

-want your workers to believe this

-just and fair

Tools to enhance employer's extrinsic motivation:

Steps to proper goal setting:

1. Goals must relate to higher purpose

2. Specific and not vague goals (like "do your best")

3. Difficult but not impossible

    - And 1 method: one more than what you did last time

4. Set goals together, not given to workers

5. Must have action plan along with goals

6. Give ppl clear and prompt feedback while working toward goal

1. Forming-socialize, get to know each other, establish common goals

2. Storming- disagreement, problems arise- confliction opinions- necessary

3. Norming- find things fundamental to agree on- establish common values and priorities

4. Performing- do the work

*order is very important

*if problems after 4, go back to beginning and start over

1. Make individual contributions identifiable

2. Emphasize value of each member’s contribution

3. Few people as possible

1. Give them enough responsibility and autonomy so they can be nearly self-governing

2. Task should be complex enough to require skills of many members

3. Select team members for diversity

4. Managers should guide, coach and provide resources

5. Managers should provide training that is appropriate

6. Allow them to evaluate each other

-tasks, responsibilities that make up the job

-knowledgeable skills and abilities required

>How to identify these:

-watch people currently doing it

-ask hiring manager

-inside the company         

-good: less learning curve and know them already, increases motivation

outside the company         

-good: new ideas, learn more         

-bad: learning curve, more expensive, harder to access qualifications

1. Background Info- application and resume

2. Interview         

>structured- all get same questions- more fair and clear         

>unstructured-just chat, open ended- more revealing

3. Paper and Pencil Tests         

-abilities         

-personality

4. Physical Ability          

-may not be fair         

-must relate to real work

5. Performance test

6. Assessment Center         

-real world test         

*most valid

7. References         

-worst but must use it         

-useless, *least valid

Tools to enhance employer's extrinsic motivation:

B.F. Skinard- Operant Conditioning

1. Positive Reinforcement

2. Negative Reinforcement

3. Punishment

4. Extinction

-if used you can get extrinsic rewards                 

-getting desired outcomes for performing needed work behaviors                 

-when someone performs the needed behavior, they get a positive outcome

-eliminating undesired outcomes, once the desired behavior occurs                 

-undesired outcome=something employee doesn’t like such as probation

-administering a negative outcome in consequence of an undesired behavior

Tools to enhance employer's extrinsic motivation:

Tools to enhance employer's extrinsic motivation:

A. Bonus – flat payment for excellent performance                 

>2 Conditions for when bonuses are motivational:                             

1) When salary level currently has no correlation to job performance                             

2) When the salaries barely change, but the performance level can change     

B. Piece-Rate                 

-pay by the piece (amount of work done)     

C. Commission       

D. Profit Sharing            

E. Employee Stock Ownership

Holbein's 3 Alternative Views

1. Boss cannot manipulate motivation     

-cannot control the level of motivation

2. Hire people who are already intrinsically motivated     

-good work ethic

3. Performance     

-3 Things that lead to performance                 

1) motivation                 

2) skills and ability                 

3) circumstances

is it a valid indicator of future performance     

-each tool must be assessed by this

>Assessment centers are most valid

>Least valid is reference letters

-long-term and holistic so that employees are able to take on new duties and new challenges in the future                 

1. Job Rotation-spend time in different departments                  2. Formal Education- company pays for you to get master degree

1. Trait Appraisal-judge human characteristics (subjective)                                         

>con: may not be correlated to what we are after                                         

>least helpful but we do it the most (useless)                              2. Behavior Appraisal- judge actions of person (more objective)                             

3. Results Appraisal- did they get the right result                                         

-most useful

1. Praise them- always begin with something good     

2. Be Specific-actual numbers, actual results     

3. Focus on Correctional behaviors- things they can change      4. Make suggestions for improvements     

5. Set up time tables

6. Express confidence in their ability to do this

1. Performance                 

2. Job Market                 

3. the Future of the person and the company 

"to convey credibility to your audience: ...

- Pride

- Insecurity

- Moodiness

- Perfectionism

-Cynicism

Michaelangelo Story

-passion is not necessary but commitment is

-4 grueling years

-huge impact in artistic community

-"when asked why he was so diligently working on a dark corner of the Chapel that no one would ever see, his simple reply was, "God will see."