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Motivation in the Workplace

Maslow's Hierarchy of Needs

Physiological, Safety, Love/Belonging, Esteem, Self-Actualization

Importance of fulfilling basic needs before higher-level needs

Frederick W. Taylor

Scientific management principles

Focus on efficiency and productivity through time studies and standardized tasks

Herzberg's Two-Factor Theory

Hygiene factors (e.g., salary, work conditions) vs. motivators (e.g., recognition, achievement)

Job satisfaction influenced by motivators

Methods of Motivation

Financial Methods

Salary increases

Bonuses and incentives

Profit-sharing plans

Non-Financial Methods

Recognition programs

Career development opportunities

Flexible working conditions

Organisational Charts

Types of Structures

Functional, Divisional, Matrix, Flat, and Hierarchical

Span of Control

Number of subordinates managed by a supervisor

Tall Structure

Many levels of management

Advantages: Clarity of roles, close supervision

Disadvantages: Slower decision-making, higher costs

Flat Structure

Fewer levels of management

Advantages: Faster decision-making, cost-effective

Disadvantages: Overwhelmed managers, potential for role confusion

Importance of Organisational Charts

Clarifies reporting relationships

Aids in understanding the organization’s structure

Helps in identifying areas for improvement

Role and Function of Management

Planning, Organizing, Leading, and Controlling

Ensures organizational goals are met efficiently

Leadership Styles

Autocratic

Centralized decision-making, limited input from team

Democratic

Encourages participation and input from team members

Laissez-Faire

Minimal supervision, employees have autonomy

Trade Unions

Represent workers' interests, negotiate with management

Recruitment and Selection

Recruitment Process

Job analysis, advertising, application collection, interviews, selection

Documentation: Job descriptions, CVs, application forms

Internal vs External Recruitment

Internal

Advantages: Cost-effective, boosts morale

Disadvantages: Limited pool, potential for office politics

External

Advantages: Fresh perspectives, larger talent pool

Disadvantages: Higher costs, longer onboarding

Training

On-the-Job Training

Advantages: Practical experience, immediate feedback

Disadvantages: Potential for errors, may disrupt productivity

Off-the-Job Training

Advantages: Focused learning, exposure to new ideas

Disadvantages: Costly, may lack immediate application

Reducing the Workforce

Dismissal vs Redundancy

Dismissal: Termination for cause

Redundancy: Job elimination due to economic reasons

Legal Considerations

Employment laws, notice periods, severance packages

Communication Methods

Internal Communication

Advantages: Quick feedback, fosters collaboration

Disadvantages: Can lead to misunderstandings, information overload

External Communication

Advantages: Builds relationships, enhances brand image

Disadvantages: Less control over message, potential misinterpretation

Formal vs Informal Communication

Formal: Structured, official channels

Informal: Casual, social interactions

Barriers to Communication

Language differences, cultural misunderstandings, physical distractions

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Businesses thrive when they are able to meet customer needs and wants

Opportunity cost is the loss of the next best alternative when making a decision

Specialisation occurs when workers focus on one particular role or task and thereby gain significant skill in doing it

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Marketing Overview

What is Marketing?

Process of promoting, selling, and distributing a product or service

Aims to meet customer needs and create value

Unique Selling Proposition (USP)

Distinct feature or benefit that sets a product apart from competitors

Market Changes and Trends

Evolving consumer preferences

Technological advancements

Economic shifts and global influences

Niche vs. Mass Marketing

Niche Marketing: Targets a specific, well-defined segment

Mass Marketing: Aims to reach a broad audience

Market Segmentation

Types:

Demographic (age, gender, income)

Geographic (region, climate)

Psychographic (lifestyle, values)

Behavioral (purchase habits)

Market Research

What is Market Research?

Process of gathering, analyzing, and interpreting information about a market

Types of Market Research

Primary Research: Directly collected data (surveys, interviews)

Secondary Research: Analyzing existing data (reports, studies)

Advantages and Disadvantages

Primary:

Advantages: Tailored insights, current data

Disadvantages: Time-consuming, costly

Secondary:

Advantages: Cost-effective, quick access to data

Disadvantages: May be outdated, less specific

Factors Affecting Market Research Quality

Sample size and representativeness

Research design and methodology

Data accuracy and reliability

Marketing Mix

Product & Branding

Product features, quality, design, and branding strategies

Price & Pricing Strategies

Pricing methods (cost-plus, value-based)

Price Elasticity of Demand: Sensitivity of demand to price changes

Place & Distribution Channels

Types of distribution (direct, indirect)

Logistics and supply chain management

Promotion

Advertising, sales promotions, public relations, and personal selling

Product Lifecycle

6 Stages:

Development, Introduction, Growth, Maturity, Decline, and Extension Strategies

Extension Strategies

Rebranding, new features, entering new markets

Technology and the Marketing Mix

E-commerce

B2B (Business to Business): Transactions between businesses

B2C (Business to Consumer): Direct sales to consumers

C2C (Consumer to Consumer): Transactions between consumers (e.g., online marketplaces)

Legal Controls

Regulations governing advertising, consumer protection, and competition

Importance of compliance to avoid legal issues and foster trust