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September,2013

MACAURO
NEWSLETTER TO EDUCATE AND EMPOWER
16th TO 28th February 2014 Volume IV

VISION
MACAURO would be guiding force for nurturing and developing tomorrows Management Specialists who in turn become role models to others by adopting and exhibiting true knowledge and ethical values.

EDITORIAL
Dear Members,

MISSION
MACAURO will drive the stakeholders through 5 I Techniques -imbibe, invoke, improve, inculcate and involve and through need based initiatives to overcome the challenges and to boost up their morale and confidence to face the competitive world.

Welcome to the forth Issue of our fortnightly, MACAURO Newsletter. Main purpose of this newsletter is to create awareness about current issues and create interest and curiosity in our students by ensuring their full participation. We hope you will find this a useful update on our activities and would like to thank everyone who has supported this edition by providing useful information. We have included concise information about job satisfaction and measures to build it in TITBITS column, knowing these facts helps the students update their knowledge about current issues. We have included quotes from Subhashitani (ancient quotes for day to day life). We have simple questions in the Quiz column for testing students knowledge on commerce related subjects. Kindly participate in answering the same and send answers by due date. Lucky students who give maximum correct answer will win gift vouchers. Co-ordinators of all the teams have been extremely proactive in bringing this second newsletter. We are looking forward to continuing this productive channel of information interchange throughout the MACAURO community. The future success of the Newsletter depends on your comments, contributions and ideas! We do encourage all of you to try your utmost best to enrich the forthcoming MACAURO Newsletters!. We hope you enjoy this Forth Newsletter, Issue for 2014 of the MACAURO

CONTENTS 2 5 5 6 6 Cover Article Job Satisfaction - its


History and Strategies

News and Events Commerce Quiz TIT BITS


Job Satisfaction Measures to build good

Facts and Figures

Regards, Radhika and Priyadarshini (Coordinators of MACAURO community) Macauro13@gmail.com

The only source of knowledge is experience

-2-

COVER ARTICLE
JOB SATISFACTION- its History and Strategies
Smt.Gopika.G,M.Com, M.Phil

HISTORY:
One of the biggest preludes to the study of job satisfaction was the Hawthorne studies. These studies (1924-1933), primarily credited to Elton Mayo of the Harvard Business School, sought to

Introduction
Job satisfaction describes how content an individual is with his or her job. It is a relatively recent term since in previous centuries the jobs available to a particular person were often predetermined by the occupation of that person's parent. There are a variety of factors that can influence a person's level of job satisfaction, some of these factors include the level of pay and benefits, the perceived fairness of the promotion system within a company, the quality of the working conditions, leadership and social relationships, and the job itself (the variety of tasks involved, the interest and challenge the job generates, and the clarity of the job description/requirements ). The happier people are within their job, the more satisfied they are said to be. Job satisfaction is not the same as motivation, although it is clearly linked. Job design aims to enhance job satisfaction and performance; methods include job rotation, job enlargement and job enrichment. Other influences on satisfaction include the management style and culture, employee involvement, empowerment and autonomous work groups. Job satisfaction is a very important attitude which is frequently measured by organizations. The most common way of measurement is the use of rating scales where employees report their reactions to their jobs. Questions relate to rate of pay, work responsibilities, variety of tasks, promotional opportunities the work itself and co-workers. Some questionnaires ask yes or no questions while others ask to rate satisfaction on 1-5 scale (where 1 represents "not at all satisfied" and 5 represents "extremely satisfied)

find the effects of various conditions (most notably illumination) on workers productivity. These studies ultimately showed that novel changes in work conditions temporarily increase productivity (called the Hawthorne Effect). It was later found that this increase resulted, not from the new conditions, but from the knowledge of being observed. This finding provided strong evidence that people work for purposes other than pay, which paved the way for researchers to investigate other factors in job satisfaction. Scientific management (aka Taylorism) also had a significant impact on the study of job satisfaction. Frederick Winslow Taylors 1911 book, Principles of Scientific Management, argued that there was a single best way to perform any given work task. This book contributed to a change in industrial production philosophies, causing a shift from skilled labour and piecework towards the more modern approach of assembly lines and hourly wages. The initial use of scientific management by industries greatly increased productivity because workers were forced to work at a faster pace. However, workers became exhausted and dissatisfied, thus leaving researchers with new questions to answer regarding job satisfaction. It should also be noted that the work of W.L. Bryan, Walter Dill Scott, and Hugo Munsterberg set the tone for Taylors work. Some argue that Maslows hierarchy of needs theory, a motivation theory, laid the foundation for job satisfaction theory. This theory explains that people seek to satisfy five specify needs in life physiological needs, safety needs, social needs, self esteem needs, and Self-actualization. This model served as a good basis from which early researchers could develop job satisfaction theories. Motivators are aspects of the job that makes people want

First of all comes the gift of food, next is the gift of learning & the highest of all this gift is knowledge

-3NEGLECT: Passively following conditions to worsen, to perform and provide people with satisfaction. Hygiene refers to the aspects of a job that do not make people satisfied (such as pay), but their absence would cause dissatisfaction. including chronic absenteeism and lateness, reduced effort, and increased error rate.

STRATEGIES TO IMPROVE YOUR JOB SATISFACTION


Depending on the underlying cause of your dissatisfaction, there may be several ways to increase your job satisfaction.

DISSATISFACTIONS EFFECTS
Surprisingly, research shows that job satisfaction has minimal effect on job performance, absenteeism, and turnover. An unhappy employee can continue to be productive and decide to stay with a company for any number of reasons - particularly in an era of massive job cuts. The most serious side effects of job dissatisfaction are stress-induced risks to the employee's emotional and physical well-being- which may in fact lead to poor performance-and the spread of negativism to other employees. These factors alone are reasons enough to pay attention to job satisfaction.

SET NEW CHALLENGES


Here are some ideas that may help. Improve your job skills. Imagining yourself in your dream job, you might see yourself as an excellent project manager a confident communicator and a highly organized person. Why not work on these skills in your present job? Develop your own project. Take on a project that can motivate you and give you a sense of control. Start small, such as organizing a work-related celebration, before moving on to larger goals. Working on something you care about can boost your confidence. Mentor a co-worker. Once you've mastered a job, you may find it becoming routine. Helping a new co-worker or an intern advance his or her skills can often restore the challenge and the satisfaction you desire.

HOW

EMPLOYEES

CAN

EXPRESS

DISSATISFACTION
Employee dissatisfaction can be expressed in a number of ways. For example rather than quit, employees can complain, be insubordinate, steal organizational property or shrink part of their work responsibilities. The figure represents four responses from one along dimensions: Constructive/ Destructive and Active/Passive. They are defined as follows. EXIT: Behavior directed toward leaving the organization, including looking for a new position. VOICE: Actively and constructively attempting to improve conditions, including suggesting improvements, discussing problems with superiors, and some forms of union activity. LOYALTY: Passively but optimistically waiting for conditions to improve, including speaking up for the organization the face of external criticism and trusting the organization and the management to do the right thing.

BEAT THE BOREDOM


Does your job seem boring sometimes? Do you run out of things to do? If so, your abilities may not match your responsibilities. Here are some suggestions: Break up the monotony: Take advantages of your work breaks, read books, listen to music, go for a walk, or write a letter.

Knowledge will give you power, but character respect

-4 Cross-training. Does your work consist of repetitive tasks, such as entering data into a database or working on an assembly line? Talk with your boss about training for a different task to combat boredom. Once you've completed the training, you can switch back and forth. Volunteer for something different. If you hear that your company is launching a new project, volunteer for the work team. Ask for a new challenge. If you're comfortable doing so, tell your supervisor you're a little bored with what you're doing and would like a new challenges for the silver lining. Depending on where you work, the silver lining may be attending continuing education classes, working closely with a performance coach and having the satisfaction of showing your boss you're capable of change. Learn from your mistakes. Failure is one of the greatest learning tools, but many people let failure defeat them. When you make a mistake at work, learn from it and try again. Be grateful. Gratitude can help you focus on what's positive about your job. Ask yourself, "What am I grateful for at work today?" If it's only that you're having lunch with a trusted co-worker, that's OK. But find at least one Keep in mind that boredom can be deadly if your job entails working with machinery or caring for people. If your mind wanders to the point that you put your life or the lives of others in jeopardy, take action. Talk to your supervisor about new challenges you can take on or seek a new position. STAY POSITIVE Use positive thinking to reframe your thoughts about your job. Changing your attitude about work won't necessarily happen overnight. But if you're alert to ways your view of work brings you down, you can improve your job satisfaction. Try these techniques: Stop negative thoughts. Pay attention to the messages you give yourself. When you catch yourself thinking your job is terrible, stop the thought in its tracks. Put things in perspective. Remember, everyone Job satisfaction plays an important role in building an effective team that will reach high level of production and efficiency. An employees work behaviours are the conditions which are beyond the individuals control. Human resource decisions makers are concerned with the feelings and emotions that employees have towards their work. Employees attitude towards work behaviour is related to his attendance and length of service in the organization. Though employee attitude go by names such as morale, opinion, job environment etc and are measured in many ways, individual psychologist have devoted great effort to define and measure the levels of job satisfaction. thing you're grateful for and savor it. Whether your work is a job, a career or a calling, you can take steps to restore meaning to your job. Make the best of difficult work situations by being positive. Doing so will help you manage your stress and experience the rewards of your profession.

CONCLUSION

encounters good days and bad days on the job. Look for the silver lining. "Reframing" can help you find the good in a bad situation. For example, you receive a less than perfect performance appraisal and your boss warns you to improve or move to another job. Instead of taking it personally or looking for another job right away, look for

The one exclusive sign of thorough knowledge is the power of teaching

-5-

NEWS AND EVENTS


Date: Event: Venue: Organized by:
22nd February 2014 Fish Bowl
College Auditorium

Smt. Nazia Sultana, Commerce and Management Department

Date: Event: Venue: Organized by:

26th February 2014(Wednesday) Poster Competition


Business Lab

Smt. Veena P, Commerce and Management Department

COMMERCE QUIZ
1. Internal audit report is submitted to a) Government b) Shareholders c) Creditors d) Board Of Directors

2.FEMA stands for: a) Foreign Exchange Management Act c) Finance Enhancement Monitory Act b) Funds Exchange Management Act d) Future Exchange Management Act 3. Memorandum of Association contains: a) Objective clause c) Capital Clause b) Name clause d) All of the above

4.Henry Fayol known for: a) Scientific Management b) Rationalization c) Industrial Psychology d) Principles of Management

5.A Company can re-issue its forfeited shares at: a) Premium b) Face value c) Discount d) All of the above

Kindly, send in your answers by 15th March 2014 to Commerce and Management department or sent it via email to macauro13@gmail.com (Mention your Name, Class and Section)

The greater our knowledge increases the more our ignorance unfolds

-6-

TIT BITS

Measures to build good Job Satisfaction


The company should provide employees with opportunities to come up and exhibit their talent. Training should be provided for the employees to make them secure in their job. Equitable rewards and compensation should be adopted to increase the morale of the employees. Organization should be caring and responsive towards the health and safety of the employees. The company should encourage creativity, innovation and continuous improvement. The company should take feedback from the employees regarding their job satisfaction regularly. Job rotation should be provided to the employees so that boredom will be reduced and they can learn new things. Necessary steps to be taken to reduce the high pressure of the employees so as to increase their productivity and growth of the company Newsletter will be uploaded on to the web every fortnight. We invite readers contribution in the form of articles or short essay on topics relating to commerce and management. Email the soft copy of the same to macauro13@gmail.com by 5th and 20th of every month. Feel free to give suggestions, opinions and reactions to any of the article published. Contact Media information. Team for any further VAT remission for industry to continue for another year. Cashless system of VAT remission on purchases of raw material made from SICOP adopted from the next year. Hotel Tariff Tax exemption to continue up to March, 2015 Increasing the Stamp Duty exemption on KCC loans from ` Rs1.50 lakh to Rs 3 lakh, also on Artiisan Credit Cards. Rs ` 2 crore for the Cancer Treatment and Management Fund.

FACTS AND FIGURES

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The door step to the temple of wisdom is knowledge of our own ignorance