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Job satisfaction

'Happiness is having one's passion for one's profession,' wrote the French novelist (and management thinker) Stendhal. The number of people in this fortunate position is limited, but there r all sorts of aspects of office and factory work that n make it enjoyable. Relations with colleagues n b satisfying and congenial. People m find great pleasure in working in team, for example. Conversely, bad relations with colleagues n b extremely unpleasant, and lead to great dissatisfaction and distress.

Basic work n what motivates people in organizations was done by Frederick Herzberg in the 1960s.

found that things such as salary and working conditions were not in themselves enough to make employees satisfied with their work, but that they n cause dissatisfaction if they not good enough. called these things hygiene factors. r is complete list:

Supervision

Company li

Working conditions

Salary

r relationships

Security

Some things n give positive satisfaction. These the motivator factors:

Achievement

Recognition

The work itself

Responsibility

Advancement

Growth

Another classic writer in this r is Douglas McGregor, who talked about Theory , the idea, still held b many managers, that people instinctively dislike work, and TheoryY, the enlightened view that everybody has the potential for development and for taking responsibility.

r recently has m the notion of empowerment, the idea that decision-making should b decentralized to employees who as close as possible to the issues to b resolved: see Units 8 m building and 12 Management styles.

But where some employees m like being given responsibility, for others it is source of stress.

People talk more about the need for work that gives them quality of life, the work-life balance and the avoidance of stress. Others argue that challenge involves reasonable and inevitable degree of stress if people r to have the feeling of achievement, necessary outcome of work if it is to give satisfaction. They complain that stress industry is emerging, with its stress counsellors and stress therapists, when levels of stress r in reality higher today than they were before.

 

Read on

Warren Bennis et al.: Douglas McGregor Revisited - Maagig the Side of Eterprise, Wiley, 2000

Wayne Cascio: Maagig Resources, Gw-ill, 1997

Harvard Busiess Review Work ad Life alc, Harvard Business School Press, 2000

Frederick Herzberg: Motivatio to Work, Transaction, 1993

Paul Spector: Job Satisfaction: Applicatio, Assesset, Causes ad Cosequeces, Sage, 1997

 


Risk

All business is built n risk. rting in politically unstable untris is n of the most extreme examples of this. The dngs m rng from kidnapping of mngrs through to confiscation of assets b the gvrnmnt. m mngrs m have to face fraud nd corruption. But the fact that mnis wnt to work there at all shows that they think the returns could b very high. As always, there is trade-off between risk and rturn: invsting in very challenging conditions is graphic, if extreme, illustration of this trade-off.



mnis do nt have to go to unstbl untries to b harmed b criminal activity. Industrial espionage has existed for as lng as there have been industries to spy n, but this n nw b carried out at distn b gining access to mn computer ntwrks. IT security specialists m try to protect their mn's systems with firewalls (thnil safeguards ginst such sning b hackers) nd ginst computer viruses.

So far, we have looked at some of the more extreme examples of risk, but vn business-s-usul is inhrntl risky. For example, b utting mn int nw vntur, invstrs tking serious finnil risks. Most businesses fail (some put the figure as high as nin out of tn), nd as the first shakeout of Internet start-ups showed, this n hn inrsingl quickly after they fundd. Venture capitalists who put mn int such businsss spread their risk so that the payback fom n r two successful vnturs will hopefully more thn mnst for the mn lost in the failures. For more n finnil risk, see Uit 9 Raising finance.

There is also the risk that vn rntl well-stblishd companies that smingl in touch with their customers easily start to go wrng: we n ll think of examples in soft dinks, lthing, cars nd rtiling, to nm few. r, the risk is of lsing sight of the magic ingrdints that make for success. Some mnis r bl to rinvnt themselves, in some cases several times v. Others dn't undrstnd what they nd to do to survive nd thrive gin, r if they do undrstnd, r unabl to tnsfrm themselves in the nss ways. The things about the m that were formerly strngths n nw bm sources of wknss nd obstacles to hng. The finnil markets see this, nd the mn's shares fall in value. Ivstrs r inrsingl quick to dmnd hngs in top mngmnt if there r nt immediate imrvmnts. In some cases, mnis that were the leaders in their industr n vn go bankrut: in irlins, think of nm.

nd thn there is the risk of mngmnt complacency. Take tyre mn. few weeks of shoddy rtins nd nugh faulty tyres r produced to put the whole future of the mn at risk through product liability claims fllwing idnts caused b blow-outs. Product recalls the worst possible publicity imginbl for mnis, nd in the worst cases, their image is so damaged that they nvr rv. This is case study in reputational risk: the trust that customers put in m n b thrwn away vrnight. nthr example of mn that destroyed the trust of its lints is the well-knwn Internet service provider that nnund free access at ll times, nd thn immediately withdrew the offer. n mmnttr described this as brand suicide.

 

Read on

Peter L. Brsti: Agaist the Gods: The Rearkable Story of Risk, Wiley, 1998

C.B. hm, Sth Ward: Project Risk Maageet, Wiley, 1996

Mark Dill: World of Risk, Wiley, 2000


Date: 2015-01-02; view: 954


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