UBUS 310 B2 Management Ch 13

Key Drivers of Sustainable Competitive Advantage
Mission Statement
Why a company is in operation (sense of purpose); Provides the framework or context within which strategies are formed (sense of direction)
What need satisfaction motivates
Unmet needs motivate people
3 Approaches: Maslow, Alderfer, McClelland
Physical or psychological requirements; Must be met to ensure survival and well being
Other theories of motivation
McGregors Theory X and Theory Y
Theory X
Basic Needs (physiological and safety)
Theory Y
Higher order needs (social, esteem, and self-actualization)
Theory Z
participative style
Theory F
fear is the primary factor
Extrinsic Rewards
tangible and visible to others; given based off performance
4 P’s: pay, pat-on-back, promotions, perks
Intrinsic Rewards
Natural rewards, associated with the task of its own sake
Satisfaction, pride, enjoyment
Tips on Goal Setting : Zig Ziglar
Writing down goals is important
Create a manageable list of goals
Plan for goal attainment
Goals provide people with direction