MGT 301 Exam 3

Maxwell 3

"As a leader, you will face plenty of obstacles and opposition...There will be times when commitment is the only thing that carries you forward."

Maxwell chpt3

"But once Michaelangelo accepted the assignment, he thoroughly committed himself to it."

500 CEOs

"Decisions can be made, but they are meaningless if you cannot make your employees respond and become motivated to a new course of action." -Mr.H Construction CEO. Exactly like fundamental law of motivation.

500 CEOs

"Human relation principles are critical in every industry. Always be about recognizing employees and their accomplishments, and encouraging them to grow, and getting them to rally in tough times by keeping them positive." Ms. L -Consumer Products CEO

The Fundamental Law of Motivation

"If you cannot or will not get people to do what they otherwise naturally would not do, you will never succeed in management."

Maxwell 13

"If you look at the lives of people in any profession who achieve lasting success, you will find that they almost always possess a positive outlook on life."

Maxwell 15

"If your focus is on what you can put into people rather than what you can get out of them, they'll love and respect you- and these create a great foundation for building relationships."

Maxwell chpt.10

"Initiators don't wait for other people to motivate them. They know it is their responsibility to push themselves beyond their comfort zone." In other words, they have a strong internal locus of control. Pg.70

Maxwell 2

"Most people think of charisma as something mystical, almost undefinable. They think it's a quality that comes at birth or not at all. But that's not true. Charisma, plainly stated, is the ability to draw people to you. And like other character traits, it can be developed."

Maxwell 3

"The impact of Michaelangelo's commitment was far-reaching."

Maxwell chpt 3

"The only real measure of commitment is action."

Maxwell3

"Undoubtedly Michaelangelo's talent created the potential for greatness, but without commitment, his influence would have been minimal."

WSJ "The key to financial discipline may be as simple as this: Take a class."

"We constantly have to remind people that it's a long-term time thing" says Jeff Carbone, managing partner of Cornerstone Financial Partners. "But Everybody continues to look at the short term; long term is tomorrow." Self-control is critical not only for investing, but for all types of success as well.

Maxwell 15 (relationships)

"people don't care how much you know, until they know how much you care"

Why corporations value teamwork:

1) Companies are more responsive to customers. 2) There is an increased level of innovation. 3) Teamwork correlates with increased employee satisfaction and motivation.

Four types of commitment

1) Cop-outs: people who have no goals and do not commit. 2)Holdouts. People who don't know if they can reach their goals, so they're afraid to commit. 3) Dropouts. People who start towards a goal but quit when the going gets tough. 4) All-outs. People who set goals, commit to them, and pay the price to reach them.

To demonstrate that our character and leadership potential are not bound by birth or by nature, consider two fields of scientific discovery:

1) DNA triggers- The impact of our DNA on our behavior is switched on/off by our choices and actions. The things that we do habitually, the environments that we choose, what we persist in listening to or thinking, can trigger or inhibit DNA's influence. 2) Neuroplasticity-Our brain structure is also subject to our choices and actions. Just as with DNA triggers, the things that we do habitually, the environments we choose, what we persist in listening to or thinking, shape our brains. "Much of who we are is in our choices and actions, not in our biology."

Three factors of motivation

1) Direction: working on task and focused without distraction. 2) Energy: working vigorously with great effort. 3) Persistence: whether a person keeps trying in the face of obstacles.

Four stages of team developmment:

1) Forming: building relationships of trust. This is done through socializing. 2) Norming: establishing a common values and shared priorities. 3) Storming: members disagree constructively, but because of forming and norming, they know each other well enough to get through it. Differences can now be productive. 4) Performing: doing the actual work. These must be done in order. If the team's results start to fail or falter or fall behind, recycle to the forming stage.

Two Types of motivation

1) Intrinsic motivation: leads to behaviors that are performed for their own sake. The source of intrinsic motivation is actually engaging in that behavior. Intrinsic motivation gives a sense of accomplishment derived from doing the task well. 2) Extrinsic motivation: leads to behavior that is performed to acquire something, or to avoid something. The source of extrinsic motivation is the consequences of the behavior, not the behavior itself. "No matter how good your plans and strategies are, without the ability to get people to do what they otherwise would not do, and to do it with direction, energy and persistence, you are not much of a leader."

Three alternative views on motivation

1) Morally and practically it is impossible to manipulate a person's motivation- their individual psychological state. 2) therefore hire people with intrinsic motivation--people with a strong work ethic. 3) As a boss, be aware of the following: The main thing that we are after is not motivation in and of itself; it is high job performance. Motivation is required for high job performance, but so are employee capabilities, as well as proper circumstances.

The six steps to giving performance feedback effectively

1) Praise the employee 2) Be specific 3) Focus on correctable behavior 4) Give them suggestions for improvement 5) Set a timetable for improvement 6) Express confidence in them

People with emotional intelligence have many characteristics that make them great employees including:

1) They have the ability to work with different personalities because they are empathetic. 2) They're diffusers and have the patience to listen to all sides when resolving an issue, whether it's a client or between co-workers. 3) They want to "invest" time into building relationships with clients and colleagues. In other words, they do not believe that time building relationships is "spent" but "invested" in an asset that will generate future returns. 4) They are self-aware. This is what the CEO of Microsoft, Satya Nadella, is looking for when he hires managers. And it is what interviewers are looking for when they start an interview by saying, "So, tell me about yourself..." 5) They are curious and want to continue learning and growing. This is just like Ben Franklin in Chapter 5 of Maxwell.

Four behaviors of emotionally intelligent people to look for during an interview:

1) They own their failures. Emotionally intelligent people don't shy away from a failure. They are forthright and willing to share how they messed up. They understand that by publicly acknowledging their own errors, co-workers are able to learn and grow as a result. In other words, they exemplify what we learned earlier about good failure. This is key to learning. 2) They are reflective. People with EQ reflect on every situation and consider the impact it had on everyone involved. This is key to team building. 3) They exhibit an internal locus of control. People with EQ don't wait until they are asked to help a co-worker; they just do it. Plus, because they understand how to work well with different personalities, people naturally gravitate towards them. 4) They don't walk into the situation with an opinion because they are so self-aware, therefore they demonstrate the ability to remove any personal preference in understanding each side's arguments. Thus, as a completely unbiased third-party, they are able to help everyone come to a resolution.

Performance feedback (still makes managers nervous)

1) formal: through a set procedure at a set time 2) Informal: whenever you can Rule of thumb: if you get a formal review and the employee is surprised, you have failed as a manager. Use both methods

Seven selection tools (for determing how well job applicants will perform in the future)

1. Background information: resumes, cover letters, and application forms. 2. Interviews a. structured: ask everyone the same questions. More clear and fair. (and more legal) b. Unstructured: ask any questions. More revealing. 3. Paper and pencil tests a. Knowledge b. personality 4. Physical ability tests: Always ask yourself, "Does this relate to the job?" 5. Ability test: doing a sample of the actual works tasks 6. Assessment center: doing an ability test in a facility that stimulates the real environment. The most valid selection tool. 7. References: We must always check them although they are the least valid tool.

5 components of Human REsource Management

1. Recruitment and Selection 2. Training and Development 3. Performance appraisal and feedback 4. Compensation and benefits 5. Labor Relations

Negotiations with unions often focus on six concerns:

1. Work hours 2. wages 3. Benefits 4. Working conditions 5. Job security 6. Grievance procedures And negotiations must be done in "good faith." That means that the parties must be willing to make someones compromises toward meeting the other party part way.

Labor relations

4 major laws to be aware of' 1. The National Labor Relations act (1935) gave unions power to represent individuals to management. This is called "collective bargaining," it gives employees far more power in dealing with management then trying to bargain individually. 2. The Fair Labor Standards Act (1938) restricted child labor, established a minimum wage, and set a maximum on working hours. 3. The Equal Pay Act (1963) required that men and women doing equal work get equal pay. This is called "comparable worth." Yet, even today, women are paid roughly 70% of what men earn in similar jobs- but that is a very "fuzzy" statistic. 4. The Work Place Safety Act (1970) established the Occupational Safety and Health Administration (OSHA) to mandate procedures for safe working conditions.

"Bachelor's degree as 'Blunt' Hiring tool" wsj

A new survey of 1200 executives and human-resources officers asked how they viewed the entry-level job market. 70% of the employers screen entry-level applicants' resumes for bachelor's degrees- even if the entry-level position may not truly require a college educ The downside of requiring a bachelor's degree is that 40% of the companies report that high employee turnover is the result of workers feeling overqualified for their beginning roles. And employee turnover is both costly and disruptive, so this should be avoided. Employees rely on college degrees as a selection tool because they believe that a college degree signals that applicants possess so-called "soft skills" like dedication on resilience- attributes that can be harder for employers to measure than technical skills.

"soldiering on in business isn't easy"

After a collective push to hire more than a million US military veterans in recent years, business is wrestling with a new challenge: holding on to them. Many veterans stumble in the transition to civilian careers, landing in jobs which they don't earn enough, encounter culture clashes or struggle to translate military skills into the corporate world. "One of the biggest mistakes employers can make is not understanding how to take advantage of veterans skills, despite not wanting to hire them" Brian Stann, former captain in the Marines and head of Hire Heroes USA, a nonprofit that helps veterans find jobs and prepare for the corporate world.

Compensation and benefits #2

Benefits There are only three benefits that firms must provide for their employees 1. Workers compensation insurance for injuries on the job 2. Unemployment insurance only for those who are laid-off, not those who are fired for poor performance. 3. Social security insurance. Employers must pay the same amount as employees are paying.

Maxwell 2

Benjamin Disraeli said, "The greatest good you can do for another is not just to share your riches but to reveal to him his own."

Maxwell 3

Bill Bradley was told, "Just remember that if you're not working at your game to the utmost of your ability, there will be someone out there somewhere with equal ability. And one day you'll play each other, and he'll have the advantage."

quote

Boeing's senior VP of operations said "I have never fired anyone in 30 years for engineering failures, but only for human failures."

Why Bosses are tracking employees

Companies including Boston Consulting Group and Microsoft are mining employees emails and chat logs, analyzing their online calendars, and tracking their face-to-face interactions using sensor-laden ID badges to get a better grasp on how information travels among employees. ' The goals is to cut down on 1) time-consuming meetings, 2) vague emails, and 3) useless training sessions. Companies are trying to measure how efficiently(max output/min input) teams communicate, but it is likely that effectiveness( attaining appropriate goals) is more important than efficiency. In preparation for an office move, BCG gave 20% of its roughly 500 employees employee ID badges to wear last spring. The badges tracked the volunteers movement throughout the office and recorded whom they talked to-though not what they said- and how long they spent in conversation. Tracking data collected from the badges showed many employees were spending too much time with bosses or direct reports, which limited the flow of information across teams. Great example of these things in mgt 301... 1) vertical silos we saw in organizational structures. They keep people from sharing information horizontally across the organization. 2) Mary parker follett was right: cross-functional terms are viral. 3) a matrix organizational structure can help a company like BCG get info where it needs to go. People across industries spend 50% more time collaborating than they did 10 years ago, according to a study that analyzed 300 organizations. Syndio, a California firm, has created a software tool that helps companies find out which employees may be feeling left out of formal channels of communication. The app gathers email data and asks co-workers to respond to survey questions. It then maps a constellation of connected dots, which represent relationships and the strength of each bond. Employees with fewer, weaker ties are depicted by smaller size dots, so bosses clearly see who might need help connecting with co-workers. This is called "social network analysis."

Compensation and benefits

Compensation Three factors must be considered in setting an appropriate level of compensation for an employee 1) Their job performance 2) The job market 3) The future: the company's future needs, and the future potential of the individual.

Maxwell chpt 10

Conrad Hilton said "Success seems to be connected with action. Successful people keep moving" pg.66

Maxwell 13

Denis Waitley said "The winner's edge is not in a gifted birth, a high IQ, or in talent. The winner's edge is all in the attitude, not aptitude."

T&D Define development

Development: long-term, holistic methods so that employees are enabled to take on new duties and meet new challenges into the future. Two types of development: 1) Job rotation among a variety of departments and functions 2) Formal education credits (tuition reimbursement)

Maxwell 15

Diagnostic tool for measuring how well we really so working with people: "How are your people skills? Do you mix well with strangers? Do you interact well with all kinds of people? Can you find common ground readily?"

Sum of emotional intelligence

Emotionally intelligent people show the potential to impact not only his or her position, but they can make those around them more effective and more fulfilled in their jobs. That is true leadership.

Recruitment and selection

First, before managers can even begin to recruit job applicants, they must perform job analysis. Job analysis: identifying the tasks, duties, and responsibilities that make up a job, and the knowledge, skills and abilities needed to perform well on the job." The job analysis can be conducted in two ways: 1) By asking a hiring manager what they want and expect in the job. This tends to lead to an idealized analysis. 2) Observing what current employees are doing in that job. This is a more realistic analysis. So, we should use both approaches to job analysis.

"Soldiering on in business isn't easy" continued

Five particular problems exist 1) Goal setting is different in business than in the military 2) Behavioral nuances can be different than in the business than in the military. For instance, addressing people as "sir" or "ma'am" likely will not be seen favorably in the business world. 3) Veterans may have physical injuries or PTSD. 4) Flexing leadership "when you don't have your rank on your collar" (as in the military) can be very different. In business, actual leadership may or may not relate to a person's position/rank. 5) In the military, you see a problem and you fix it. But in business, things often move more slowly. So what can companies and veterans do to make things work better? 1) Develop a support network in the workplace. You need to socialize and understand others' needs, interests and concerns so that you can be a resource for them. 2) You need to have a "buddy" you can relate to. 3) You need to have a mentor to learn from. 4) You need to be humble in order to adjust yourself and your behaviors based on what your mentor shares with you. These recommendations help veterans, and all workers as well.

Maxwell 3

How to measure your own level of commitment? Look at your calendar and your checkbook. there you will see what you are truly committed to.

quote 2

Jack Welch, former chairman and CEO of GE, created more value for other people than most CEOs. He said, "Nothing else matters if we doing get the people thing right."

Maxwell ch15

Le Roy Kutz of General Motors said "The fields of industry are strewn with the bones of those organizations whose leadership became infested with dryrot, who believed in taking instead of giving...who didn't realize that the only assets that could not be replaced easily were the human ones."

The story of Lester Wunderman

Lester Wunderman is a great example of intrinsic motivation. he was fired from his advertising job in New York in 1947. He knew he could learn a lot from his boss, Max Sackheim. So the next day Lester came back to work and did the same as he did before, without pay. His boss ignored him for a month, until one day Sackheim came up to him and said, "Okay, you win. I never saw a man who wanted a job more than he wanted money." Wunderman went on to become one of the most successful men of advertising of the century and is known as the father of direct marketing. "It will take a bold step from you today to reach your potential tomorrow."

Lesson of Michaelangelo

Like with Michaelangelo, duty to honoring a purpose higher than yourself gives you the power of commitment to work through things that are not your "passion." You do not necessarily have to like what you are doing to do a great work.

Maxwell 13

Martyn Lloyd-Jones said "Most unhappiness in life is due to the fact that you are listening to yourself rather than talking to yourself."

Maxwell 2 (charisma)

Maxwell describes authentic/genuine charisma, not superficial charisma. "How can you have charisma? Be more concerned about making others feel good about themselves than you are making them feel good about you."

Methods for increasing extrinsic motivation continued #9

Merit pay- money motivates people. 1. Bonus 2. Piece Rate Pay 3. Commissions 4. Profit sharing 5. Employee stock ownership possible problem with profit sharing and employee stock ownership is that although employees may be working with direction, energy and persistence, the actions of top executives, the forces of competition, and the general economy may reduce company profits and stock price.

Methods for increasing extrinsic motivation continued #3

Method #3: herzberg's ideas Believed that there was something missing from Maslow's five needs. Maslow's two lower needs (Physical and safety) he called "Hygiene needs." These "hygiene needs do not motivate people, but they do play an important role in motivation. Their absence de-motivates people. Hygiene needs are necessary but not sufficient for motivation.

Methods for increasing extrinsic motivation continued #5

Method #5 Need for fairness/ equality /justice P (my O/I) > P (their O/I) P=perception or point of view O=Out-take (what is obtained from the job) I=Input (what is put into the work) Am I getting as much out of this job, considering how much I put in, in relation to others?

Methods for increasing extrinsic motivation continued #6

Method #6 Goal Setting that really motivate people. 1) Goals should point to a higher purpose. 2) They are specific, not vague: use numbers, do not say, "Do your best." 3) Difficult, but not impossible: use the "And One" method- go one step further than last time. 4) Boss and employee should set goals together. 5) Worker can see steps to achievement (an action plan) 6) Worker receives clear and timely feedback about their performance.

Methods for increasing extrinsic motivation continued #7

Method #7: Operant Conditioning by B.F. Skinner 1. Positive reinforcement: "Getting a desirable outcome for performing a correct behavior." 2. Negative reinforcement: "Eliminating undesired outcomes once the desired behavior occurs." For example, take the employee off of probation. 3. Punishment: "Administering a negative outcome in a consequence of undesired behavior." 4. Extinction: "Eliminating the performance of a dysfunctional behavior by removing whatever is reinforcing it."

Method #8 for increasing extrinsic motivation

Method #8 Vicarious Learning/ Social Learning/ Role Modeling Set a good example as a leader yourself. You are a role model. Also, show your employees others who are doing things right.

As a manager there are nine methods to boost the Extrinsic motivation of your employees.

Method 1 1-3 E.I.V. Create in the minds of your employees three ideas. 1) Expectation: hard work produces good results. 2) Instrumentality: good results will be rewarded. 3) Value: they will like the reward. Method 2- Abraham Maslow's Hierarchy of Needs Help satisfy employees five basic needs 1) Physical needs: we need a living wage for food, clothing, and shelter. 2) Safety needs: we need security (insurance, job security, etc.) 3) Social needs: we need to interact with each other. 4) Esteem: we need to be proud of ourselves (so recognize and praise employees) 5) Self-actualization: we need to realize our full potential (give people challenges).

Who judges an employees performance?

More than just the boss. 360 degrees: everyone around you judges your performance. This includes 1) your boss 2) Your subordinates 3) Your peers/ colleagues 4) Your customers/clients 5) Yourself too

WSJ executives when hiring people

Ms. Goler of Facebook "We're looking for builders. We're looking for people who can look at any situation and think, 'That works pretty well. I bet it can even better, and I have a vision for how to make it better'" This is just like Walt Disney finding his vision in the Discontented voice, and like the Negative Affect of successful leaders and entrepreneurs in the Big Five Personality traits learned earlier in the semester.

Last wsj executives when hiring

Ms. Goler type of interview question that you may run into, "My favorite question to ask is always, 'On your very best day at work when you go home and think, 'I have the best job on the planet,' what did you do that day?'"

WsJ executives when hiring #2

Ms. de Baubigny of Kleiner Perkins Caufield and Byers "Its all about mental agility, being able to flip between those different functional sectors, and then to be able to have some good perspective." We learned about the functional structure of organizations for exam 2, and Mary parker Follet also taught the importance of having cross-functional terms.

Maxwell 2

Napoleon Bonaparte characterized leaders as "dealers in hope."

Performance appraisal and feedback (makes most managers very nervous)

Performance appraisal: judging/ evaluating an employee's job performance Three ways to appraise people 1) Trait appraisal: most common and most useless. Judging people based on subjective personal opinion, not performance. 2) Behavior appraisal: do employees follow instructions? Look at their actions. 3) Results appraisal: the most objective, judgment based on what people have actually accomplished. Cons--If this is the only method a manager uses, it might lead to unethical behavior. Also, it occurs only after the fact, so a manager can't correct performance as it is happening. Note: Use both behavior appraisal and results appraisal

Maxwell chpt 10

President John F. Kennedy said, "There are risks and costs to a program of action, but they are far less than the long-range risks and costs of comfortable inaction." Holbein adds the old quotation, "Great ships are always safe if they stay in the harbor. But that is not why we build great ships." Pg. 70

Maxwell chpt 10

Senator Robert Kennedy said, "only those who dare to fail greatly can ever achieve greatly." Pg 71

Amazon founder quote

Speaking to graduates at Princeton, Amazon founder and CEO Jeff Bazos said, "When you are 80 years old and you are in a quiet moment of reflection, narrating for only yourself the most personal versions of your life story, the telling that will be most compact and meaningful will be the series of choices you made."

Maxwell 13

Stories of Thomas Edison #2 His lab burning down. The lab he built is West Orange, New Jersey was world famous. He called it his invention factory. In December, 1914, his lab caught fire. As he stood outside and watched it burn, he is reported to have said, "kids, go get your mother. She'll never see another fire like this one."

Maxwell 13

Stories of Thomas Edison Story #1- inventing the light bulb It took him approximately 10,000 experiments to invent the perfect set-up for the electric light bulb. You must actively seek out failure and delight in it. The most sublime creative ideas are often found in the shadow of the most unworkable and crazy ideas. Do not be afraid of getting anything wrong. There is no wrong. There is only a lesson in how not to do it! And that lesson is priceless... Nothing is ever lost by failure, error or disaster. Unless you allow it to be lost. Do not accept defeat lightly. Every dusk has a new dawn...

TB&TW Define team

Team: "A group whose members work intensely with each other in order to achieve a common purpose." All teams are groups, but not all groups are teams.

WSJ-"What employees want"

The WSJ discussed hiring and developing workers with Lori Goler, global head of people at Facebook, and Juliet de Baubigny, senior partner at venture-capital firm Kleiner Perkins Caufield and Byers. "We have been learning that in order to motivate your people, you must understand their needs. And we have seen that in order to be successful, you must have very clear priorities." Priorities that these two leaders see among employees at their two firms: 1) Pride in their work 2) A sense of fulfillment in their work 3) having a positive impact on the world 4) Being part of something that's bigger than just you 5) Life-long learning 6) Flexibility 7) Compensation 8) Transparency (openness) in the values of the firm 9) Getting immediate feedback on work done

WSJ financial discipline continued

The key questions are: Can such discipline be taught? Can people change their natural traits and tendencies? Or are we all in an "iron cage" determine by DNA and/ or brain? - Researchers at Utah State University did a study on the behavior of two separate groups of college students over the course of a semester. They tested whether people are willing to take a bigger payout later, or a small payout now. The students who had completed a basic financial-education course were more willing to wait for the bigger payout, while the control group who didn't take the course exhibited no increase of self control. Those who took the class were less impulsive. "We see evidence that we can teach people self-control," says William Dehart, one of the authors of the study. Thus, the seeming "iron cage" of our in-born natural tendencies can be unlocked, and we do indeed have the power to act as we choose.

Main point of Maslow

The point for managers is NOT whether the needs only move in one direction as Maslow taught. The main lesson from Maslow is to know each employee's individual, personal needs by getting in touch with him or her.

Maxwell chpt3

The story of Michaelangelo. Specifically he committed heresy to the conventional cultural wisdom of today by being committed to tasks even when it wasn't his passion. -Pope Julius II summoned Michaelangelo to Rome to create a sculpture, but was then asked to work on a painting project instead. He wanted to refuse, but when the pope pressed him, he releuctantly accepted the assignment. Once he accepted the assignment, he thoroughly committed himself to it.

Maxwell 2

The story of William Gladstone and Benjamin Disraeli. "when I left the dining room after sitting next to Mr.Gladstone, I thought he was the cleverest man in England. But after sitting next to Mr. Disraeli, I thought I was the cleverest woman in England." Gladstone and Disraeli were two strong men vied for leadership of Great Britains government in the second half of the nineteenth century. They were intense rivals. She thought she was the cleverest woman in England after sitting with Disraeli. "Disraeli possessed a quality that drew people to him and made them want to follow him. He had charisma."

Training and development Define training

Training: involves short-term, technical methods so that employees know how to perform their current jobs today. Two types of training: 1) Classroom instruction-best for technical routines 2) On-the-job training- provides a richer set of skills

Methods for increasing extrinsic motivation continued #8

Vicarous Learning/ Social Learning / Role Modeling Set a good example as a leader yourself. You are a role model. Also, show your employees others who are doing things right.

Maxwell chpt 13

Victor Frankl, death camp survivor, said, "The last of our human freedoms is to choose our attitude in any given circumstances."

Maxwell 13 (positive attitude)

William James said "The greatest discovery of my generation is that human beings can alter their lives by altering their attitude of mind."

Motivation

a person's individual, psychological state that influences the direction, energy, and persistence of their work.

Validility

a selection tool is valid to the extent that it predicts future job performance

Teambuilding and team work Define group

group: "Two or more people who interact with each other."

Methods for increasing extrinsic motivation continued #4

method #4 McCelland's ideas White collar, highly educated professionals have three primary needs that motivate them: 1) Need for achievement; give them challenging work. 2) Need for affiliation; work with other similar professionals. 3) Need for power over decisions.

recruitment & selection

recruitment: activities that managers engage in to develop a pool of job applicants. selection: the process by which managers determine the relative qualifications of applicants, and their potential for performing well into the future. Note: selecting the right employee to hire was the managerial responsibility that made Holbein most nervous. It is critical to hire good employees. It is "dangerous" to hire poor employees. And it is very difficult to tell beforehand who will work out well.