Marel Q1 2024 Investor Presentation from May 8, 2024
Hrm exam 2 study guide
1. C. 13 Culture-
Culture – Everything that the people in a society have learned and share through, traditions,
pass on to children, and teach new members; this includes religion beliefs, political ideologies,
values, customs foods, language, gender roles, sexuality, and many other aspects of everyday
life.
o Attitudes- A group of ideas, values, beliefs and feelings that predispose a person to
react to a thing, a situation, another person or a group in a certain way
o Norms- Internalized standards for behavior that support agreed-upon ways of doing
things and what people expect of one another within a cultural group.
o Folkways- The routine conventions of everyday life.
o Mores- Norms that are central to the functioning of society.
Organizational culture regulates behavior both implicitly and explicitly and it can direct people’s
actions more effectively than standard of control systems.
Hofstede’s GLOBE (Global Leadership and Organizational Behavior Effectiveness)
o Power Distance- The extent to which people in societies accept the idea that power is
distributed un-equally.
High: Focus on status and power, and leaders expect deference from their
subordinates.
Low: Favor participative decision making and egalitarian relationships
o Uncertainty Avoidance- The degree to which people can tolerate unpredictable,
ambiguous or uncertain situations.
High: Structure and clear expectations
Low: Do not value rules and procedures and accept ambiguity
o Individualism/Collectivism- The degree to which people prefer to act in their own self-
interest instead of acting on what is best for the group as a whole/ The degree to which
people prefer to act as a member of a group in exchange for loyalty and the benefits of
membership.
High Collectivism: Allocates resources so that all members can participate in
economic, social, and political process
Low: Encourages self-interest
o Masculinity/ Femininity (Assertiveness): The extent to which a society values achieving
v. nurturing
High Assertive: Encourages and regards toughness, a certain degree of
forcefulness, and competitiveness.
Low: Encourages gentleness and modesty.
o Long-term/Short-term (Future Orientation)- A greater concern for the future and for
values such as thrift, perseverance, and avoidance of shame/ Desire for gratification of
personal needs, as well as a focus on tradition and meeting social obligations.
High Future: Delay gratification
Low: Do not values rules and procedures and accept ambiguity
2. GLOBE Project Dimension:
o Gender Differentiation: The extent to which a society maximizes gender role
differentiation and how much status and decision-making responsibility is given to a
woman
High: Grant one gender a higher status
Low: More equal status of men and women
o In-Group Collectivism: The extent to which members of a society take pride in being
members of small groups within the society, such as families, close circles of friends,
teams, and the organizations in which they work.
High: Provide benefits for families or have structures encouraging groups to get
together to socialize.
Low: Emphasize on the importance of the nuclear family and more on allegiance
to country
o Performance Orientation: The degree to which a society rewards group members for
performance improvements and excellence.
High: Value training and development and believe in taking initiative
Low: Uncomfortable with feedback
o Humane Orientation: The degree to which a society encourages and rewards people for
being fair, altruistic, generous, and kind to others
High: Focus on human relations and sympathy
Low: Motivated by material possessions
Competing Values Framework- A model that shows how cultures can be measured along two
axes: structure (stability v. flexibility) and focus (internal v. external).
Clan Culture- Internal focus/ encourages flexibility
Hierarchy Culture- Internal focus/ encourages stability and control
Adhocracy Culture- External focus/ encourages flexibility
Market Culture- External focus/ encourages stability and control
Competing Values Framework CHART: P 469
Balanced Culture- A culture that has values linked to each of the culture domains of the
competing values framework, and all of these values are perceived to be important and are held
by organization members quite strongly.
Strong Culture- Central values and norms shared by most
Weak Culture- Values and norms shared by limited group, misalignment of employee goals with
management goals.
Edgar Schein’s Levels of Culture
o Observable Artifacts: Dress code, language, interpersonal relations, technology,
workspace and ceremonies
o Values and Attitudes-
Espoused Values: Explicit values that are preferred by an organization and
communicated deliberately to the organization’s members.
3. Enacted Values: The values that are actually exhibited in an organization.
o Basic Assumptions: The core beliefs that are deeply embedded in the organization and
that are largely invisible (guide behavior).
Myths- Exaggerated stories that are told and retold to communicate values and to emphasize
norms.
Hero- A legendary person who embodies the highest values of a culture.
Socialization- The process of teaching new members about a culture.
Taboos- Strong prohibitions against certain activities.
Sacred Symbols- Things, people, and events which are untouchable and unquestionable within a
culture (flag).
Ethnography- The systematic study of human cultures.
o Participant Observation: People observe and collaborate with one another to truly
understand what is happening within their group or organization (co-inquiry).
o Appreciate Inquiry: A process that explores people and the organizations strengths—in
other words, everything that stimulates both people and the organization to become
healthy and productive.
Equal Employment Opportunity Commission (EEOC)-A federal commission created as part of
the Civil Rights Act of 1964 that handles complaints of discrimination against organizations.
Equal Opportunity (EEO) Laws- Federal regulations that ensure that organizations provide equal
opportunities for all people.
Content on Culture not covered in the text (From PPT.):
Organizations with a strong corporate culture based on a foundation of shared values
outperformed other firms by a huge margin
o Revenue grew more than 4 times faster
o Rate of job creation was 7 times higher
o Stock price grew twelve times as fast
o Profit performance was 750% higher
50% of acquisitions fail
Culture Types
o Innovative - Apple
o Customer Service – Amazon.com
o Diversity – Marriott
o Ethical - Starbucks
o People – Southwest Airlines
o Training - Disney
o Cost –WalMart
C. 1 & 2 Leadership-
Chapter 1
4. Manager- An individual who makes plans; organizes and controls people, production, and
services; and who regulates or deploys resources.
o Occupy themselves with the status quo and how they can work within these parameters.
o Control resources
o Informational, Interpersonal, and Decisional
Leader- A person who is out in front influencing and inspiring people.
o Ask important questions about the organizations future: “where are we going?’ ”How
do we get there?”
o Create and provide resources through motivation
Types of followers:
o Managing Up- A followership tool that enables followers to influence leaders.
o Isolates- Followers who are nonresponsive or indifferent to leaders.
o Bystanders- Followers who are not engaged
o Participants- Followers who are actively engaged and make an effort to be supportive
and have impact.
o Activists- Followers who feel strongly about their organization and leaders and act
accordingly.
o Diehards- Followers who are passionate about an idea, a person, or both and will give
all for them.
All leaders need to be able to follow; followers need to be able to lead. Everyone needs to be
able to lead, especially managers.
Chapter 2
Leadership is learned, to be
o An effective leader: emotional and social competence
o An influential leader: Power
o A responsible leader: Ethics
Competencies- Capabilities or abilities that include both intent and action, and that can be
directly linked to how well a person performs on a task or a job.
5 Competencies:
o Motives- Fuel action
o Traits- physiological or psychologicalcharacteristics and/or a consistent way of
responding to situations
o Self-Concept- Values attitude, self-image
o Knowledge- information at person disposal
o Skills- Learned abilities
Effective Leadership:
Threshold Competencies- Necessary to perform a job
Differentiating Competencies- Support outstanding performance
Technical Competencies- Ppl who are adept at technical competencies are proficient in the use
of tools and processes related to a specialized field.
Cognitive Competencies- Ability to see the “big picture.”
5. Relational Competencies- Support the development of strong working relationships with
colleagues, direct reports, senior management, and customers.
Competency Model- A set of competencies that are directly related to success in a job and are
grouped into job-relevant categories.
Competency is directly related to social and emotional intelligence
o Social and emotional intelligence- Competencies linked to self-awareness, self-
management, social awareness, and relationship management that enable people to
understand and manage emotions in social interaction.
o Resonant organizations- Characterized by a powerful and positive culture in which
people have a shared sense of excitement and commitment to mutual goals.
o Resonant Leaders- Socially and emotionally intelligent, visionary people who lead and
manage in ways that enable everyone to contribute their best.
o Self-Awareness- The ability to notice and understand one’s emotions and their effects.
o Limbic Resonance- Refers to how emotions are contagious and a powerful driver of our
feelings, thoughts, and behaviors.
o Self-awareness is the foundation of social and emotional intelligence.
Influential Leadership:
Power- Influence over through others. Getting people to do what one desires by changing how
those people think, feel or act.
Understand how power in the organization is used. Organizational Politics- involve many things,
including internal competition and the pursuit of personal goals at the expense of others in the
organization (promotions).
Types of power
o Legitimate Power- Right of one’s position in an organization, the office held or formal
authority.
o Reward Power- Giving or withholding rewards such as pay, promotions, time off,
attractive projects, learning experiences and the like.
o Coercive Power- The attempt to influence others through punishment
o Expert Power- The ability to influence others through a combination of special
knowledge and or skills.
o Referent Power- Power that comes from personal characteristics that people value and
want to emulate and that cause people to feel respect or admiration.
Empowerment- Trusting employees to make decisions and to take responsibility for their
decisions and actions (possible the most important way to wield power and share it).
o Engagement, they have a voice
Empowering organization do not micromanage
o Micromanagement- The practice of overcoming others and their work, as well as paying
far too much attention to details and how employees do their work.
Empowerment Theories:
o Theory X- The average employee is inclined to be lazy, without ambition, and
irresponsible
6. o Theory Y- Workers are inherently ambitious, responsible, and industrious, and that they
will work hard to help an org. reach its goal.
o Theory Z- In org. with strong, relational cultures, employees have discretionary freedom
in local decision making and are trusted to work autonomously.
o Flat Org.-Encourage empowerment because they have few levels of hierarchy, which
drives a need for more people to make decisions.
Responsible Leader:
Developing Values and Ethics
Ethics- Set of values and principles that guides the behavior of an individual or group.
o Ethical Code- System of principles governing morality and acceptable conduct
o Individual Ethics- Personal code of conduct when dealing with others.
o Professional Ethics- Standards that outline appropriate conduct for a given prof.
o Org. Ethics- Values and principles that an org. has chosen that guide the behavior of
people within the org. and or what the stakeholders expect of that org.
Stakeholder- Any constituent potentially impacted by an organization’s actions,
either inside or outside the organization.
o Societal Ethics- Principles and standards that guide members of the society in day-to-
day behavior with one another.
Values- Ideas that a person or group believes to be right or wrong, good or bad.
o Terminal Values- Personal commitments we make to ourselves in relation to our life’s
goals.
o Instrumental Values- Preferred behaviors or ways of achieving our terminal goals.
Laws often follow ethical violations (ex. bribery and fraud are illegal and unethical).
Ethical Dilemmas- Situations in which it appears that acting ethically would prevent the
achievement of an objective. Making ethical decisions should be practiced, if you make one
unethical decision it will lead to more.
o Ethics are a personal decision
Trait Theories of Leadership
Traits- Enduring and distinguishing personal characteristics that may be inherited, learned, or
developed
Trait Theories- Models that attempt to explain leadership effectiveness by articulation of
physical, psychological, and social characteristics, as well as abilities, knowledge and expertise.
Ohio State Study- Two major dimensions of leadership
o Consideration- People-oriented behaviors such as respect, openness to employees’
ideas and concern for employee’s well-being.
o Initiating Structure- Behaviors related to task and goal orientation, such as giving clear
directions, monitoring employee’s performance, and planning and setting work
schedule and deadlines.
U of Michigan Study- Two dimensions of behavior
o Production Oriented Behavior- Focuses on efficiency, cost, adhering to schedules, and
meeting deadlines (job task and work procedures).
7. o This is less effective than, employee oriented behavior- supportive of employees,
emphasized relationships, and focused on engaging employees through setting and
assisting in the attainment of high-performance goals (see leadership grid p. 41)
Contingency Approaches- Models and theories of leadership that take into account leader
behavior and various aspects of the organizational situation and/or characteristics of followers.
o Fiedler’s Contingency Approach- Leadership effectiveness is dependent on the
characteristics of the leader and the characteristics of the situation.
o Relationship-Oriented Leaders- Leaders who emphasize good relationships and being
liked by employers.
o Task-Oriented Leaders- Leaders who focus on accomplishments and seek to ensure that
employees perform well on the job.
o Situational Leadership Theory- Contingency model that links leader style with follower’s
readiness for tasks (focuses on followers and their competencies).
Telling Style: Appropriate when followers are unwilling or insecure, they need
clear direction and close supervision
Selling Style: App. When employees are unable to complete tasks, but they are
willing and/or confident.
Participating Style: Can be used when employees are able, but unwilling and
insecure.
Delegating Style: Can be used when employees are able, willing, or confident.
o Path-goal Theory- The leader is responsible for motivating employees to attain goals.
Can be: Directive, participative, supportive, or achievement oriented.
o Leader Substitute Model- Certain characteristics of people or of the situation can make
direct leadership unnecessary.
Transformational Leaders- People who have social and emotional intelligence and who can
inspire others to seek an extraordinary vision (they attend to people, individualized
consideration) (also charismatic).
o Attributes: Vision and articulation, sensitivity to the environment, sensitivity to people’s
need, personal risk taking, and unconventional behavior.
Transactional Leaders- People who follow a traditional approach to management in which
leader and follower behavior is an instrumental exchange.
Self-Aware Leader Qualities:
o Authenticity- Genuine presentation of one’s thoughts, feelings, and benefits.
o Inspire trust
o Integrity- Steadfast holding to high moral principles and professional standards.
o Courage- The willingness and ability to face fear, danger, uncertainty or pain without
giving up whatever course of action one believes is necessary and right.
Content on Leadership not covered in text (From PPT.):
Transformational Leadership-
8. o Individualized Consideration – Invest in followers one-on-one and learn their needs and
interests
o Intellectual Stimulation – Challenge people to be creative and build a creative
environment
o Idealized Influence – Your personal leadership foundation of how you have lived your
life based on how others see you
o Inspirational Motivation – Creating shared values and shared vision with your followers
Servant Leadership-
o Cares about their team more than themselves
o Gives of themselves so their team can be better
o Spends time removing barriers for their team and giving them the tools, attention, and
development they need to succeed
o Encourages their team members to also become servant leaders for their people
C. 4 Motivation-
Motivation- The result of a complex set of psychological influences and external forces or
conditions that cause a person to behave in a certain way while maintaining a certain level of
effort and degree of persistence. Great leaders inspire and motivate us.
What makes work meaningful?
o Flow- A state of intense concentration and complete engagement in a task, along with
full use of one’s talents to accomplish the task (passionately engaged).
o Hope- A state of mind that includes optimism, an image of a future that is challenging
but realistic, and a belief that we can do something to move towards that vision (help
employees realize success and what’s possible—individualized consideration).
o Resonant Environment- A work environment characterized by excitement, energy,
optimism, efficacy and hope (positive emotions).
The psychology of motivation
o Intrinsic Motivation- An internal sense of satisfaction derived from the work itself
and/or the desire to engage in activities even in the absence of external rewards in
order to feel a sense of satisfaction, to use or improve one’s abilities, or to learn.
Ex. Relatedness/Interesting, challenging, learning, empowered, ability to control
environment, and contribute to others in a meaningful way
o Extrinsic Motivation- Motivation that is the result of forces or attractions outside the
self, such as material rewards, social status, or avoidance of unpleasant consequences.
Ex.Grades, fame, social status, people’s approval, avoid being fired, pay and
material rewards, and time off
o Locus of Control- Our perception of the degree to which we have control over what
happens in our lives.
High: you believe you can impact your environment and fate.
Low: you believe others and the environment have a great impact on you and
the results of your efforts.
9. Motivation and the Big 5 Dimensions of Personality-
o Openness to experience, conscientiousness (self-discipline), extraversion, agreeableness
and emotional stability.
Motivational Theories
Maslow’s Hierarchy of needs- People are motivated to satisfy physiological, then safety and
security, then love and belonging, then self-esteem, and finally self- actualization in that order.
ERG Theory- People are motivated to satisfy need related to existence, relatedness, and growth
and these needs can all be activated at the same time.
Two-factor Theory- That motivators and hygiene factors affect job satisfaction, motivation, or
job dissatisfaction.
Three-needs Theory- People are motivated by needs for achievement, affiliation, and power.
o Need for Achievement (nAch)-The desire to engage in challenging and complex
activities, meet and exceed personal goals, and to seek excellence.
o Need for Affiliation (nAff)-The desire for warm, fulfilling, and close personal
relationships.
o Need for Power (nPow)-The desire to have influence, control, and responsibility, either
directly or through social status.
Personalized Power- A need for power that drives people to seek control
through assertive or aggressive behavior, often for personal gain.
Socialized Power- An expressed need for power that is based on a desire to
support the welfare of others, a group, society, or the common good.
Prosocial Behavior- Any behavior that seeks to protect the welfare of
society or the common good.
Equity Theory- Theory stating that an individual’s level of motivation is a result of comparing
personal inputs and outcomes, and also comparing one’s efforts and rewards with others’
efforts and rewards.
o Can result in Cognitive Dissonance- A state of psychological stress arising from the
attempt to process conflicting ideas, attitudes, or beliefs.
Expectancy Theory- Motivation is affected by the relationships among effort and performance,
performance and outcomes, and the perceived value of outcomes.
o Effort- A person’s input. Does your effort lead to acceptable performance?
o Performance- The extent to which a task or work is completed successfully.
o Instrumentality- A person’s belief about the degree to which performance will result in
realizing certain outcomes.
o Valence- The value placed on outcomes (intrinsic or extrinsic).
o Motivation=Valence x Expectancy x Instrumentality
Goal-setting Theory- People are motivated by the process of identifying and achieving goals,
and that the characteristics of these goals will have an impact on motivation, performance &
results.
10. SMART goals- Goals which are Specific, Measurable, Achievable, Result-based, and Time-
specific.
Learning Theories
Operant Conditioning Theory- Learning and behavior changes occur when behavior is
reinforced and when behavior is not reinforced or is punished, it will eventually cease.
o How it Works:
Positive Reinforcement- Positive consequences following a desired behavior.
Negative Reinforcement- Removal of a negative consequence following a
desired behavior.
Extinction- Withholding of consequence following a certain behavior.
Punishment- Addition of a negative consequence following an undesired
behavior.
Social Learning Theory- People learnnew behaviors by observing others and that self-
reinforcement and self-efficacy support learning and behavior change.
Self-efficacy- The degree to which a person believes that he or she is capable of
successfully performing a behavior, accomplishing a task, or achieving a goal.
o Learning by observing:
Observe Others
Retain the Information
Replicate the Behavior
Demonstrate Motivation to Repeat
Integration of Theories Definitions-
Individual Compensation- A plan in which compensation is determined by considering
an individual’s performance.
Group Compensation- Bases an individual’s compensation on the performance of a
group or groups and or the org. as a whole.
Merit-based Compensation- Compensation is determined by the level of performance
of an individual or a group.
Job Characteristic Model Definitions –
Job Characteristic Model- Framework that states that people need certain qualities in
their job to be intrinsically motivated and satisfied with their work.
Job Enrichment- Building intrinsic motivators into the structure of a job.
Job Enlargement- Combining several jobs into one larger job.
Job Rotation- Moving employees from one job or one job site to another to increase
satisfaction and productivity.
Content on Motivation not covered in the text (From PPT.):
Expectancy Theory in Short:
11. The goal (Performance)
How hard to work to accomplish the goal (Effort)
If I perform what outcome (reward) do I get (Instrumentality)
How important is “what I get” (reward) for reaching my goal to me (Valence)
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