1. Human Relations Management 1

2. Maslow’s hierarchy of human motivational needs 2

3. Alderfer’s Three Part Model (ERG) 3  Alderfer used a three-part model to explain motivations – existence needs, relatedness needs, and growth needs –.

4. Herzberg’s Two Factor Theories 4  Herzberg argued that people react to two sets of forces - external(hygiene) and intrinsic(motivation) factors) in the workplace.

5. Effective Goal Setting as a Motivational Tool  Organizations use goal setting to maintain competitiveness and involve organizational members in continuous adaptation and improvement.  Using goals as a motivational tool  Provides direction for employees  Short-term goals Vs. broad, long-term goals  Goals must include the following to be effective.  Relevant to the individual  Reliability as a measure over time  Discrimination between good and poor performers  Practical application for the organization

6. Personnel Management Issues 6

7. Recruitment  Recruitment Internally  Career & Job Fairs  Applications on File  Advertising  Consultants and headhunters  Colleges, universities, and other educational outlets  Word of mouth  Internships 7

8. Selection Usually, firms seek cover letters, resumes, audition tapes or portfolios for applicants. Usually, firms seek cover letters, resumes, audition tapes or portfolios for applicants.  Short List  Diversity: media companies are Equal Employment Opportunity businesses. Workforce must reflect local community in regards to opportunities for women and people of color  Interviewing: can be expensive and often is time-consuming for all involved. Can include skill assessment. By law, companies cannot ask questions about age, religion, race or sexual orientation. 8

9. Training  Orientation: introducing new employees to company policies and other personnel (hours, overtime, sick leave, vacation time, appearance, etc)  Training 9

10. Performance, Promotion & Termination  Performance reviews: should happen at least once per year. Purpose is to identify employees’ strengths and weaknesses and to give employees a chance to provide feedback to managers.  Promotion: most media professionals find it necessary to move from market to market to achieve their career goals.  Termination: employees may voluntarily leave or be asked to leave 10

11. Financial Management 7/6/201611

12. Media Firms & Financial Management  M  M edia firm’s common financial goal – to earn a profit on products and services they offer  In media business, success is measured by the bottom line – the amount of profit or loss that remains after one deduct expenses from revenues.  While many tasks and responsibilities are delegated, the General Manager (GM) or other senior manager remains directly responsible for financial matters. 12

13. Financial Management?  Involves systematic planning, monitoring, & control  Planning - Mainly concerns developing budgets based on revenue history and expense projections  -Takes place through managerial review of financial statements and other reports that measure the efficiency of an organization  Monitoring -Takes place through managerial review of financial statements and other reports that measure the efficiency of an organization  Control can take many forms, from authorizing purchases to establishing internal policies and procedures 13

14. Meeting Financial Goals  Managers must consider  The state of the economy (local & national)  Technological change  Regulatory issues  Audience tastes and preferences  Change in any of these areas can influence the financial performance of an electronic media facility. (e.g.) The need to upgrade key equipment may mean a sizable increase in the operating budget. (e.g.) The need to upgrade key equipment may mean a sizable increase in the operating budget. 14

15. Budgeting  Managers need budgeting in order to achieve established financial goals & objectives  Budgeting is an annual process  Management projects anticipated revenues & expenditures for a firms next 12 months of business (fiscal year) 15

16. Budgeting  Budgeting should involve the General Manager, Controller or other financial officers and other managers.  Setting priorities & goals in individual departments –Department heads submit a budget for approval by the Controller and General Manager –Department budgets are based on it’s priorities and goals 16

17. Monitoring Financial Performance  In order to monitor & evaluate financial performance management uses different financial statements & reports.  Financial statements (e.g.) Balance sheet 17

18. Balance Sheet  Summarizes the financial condition of a firm at a particular point in time  Allows for comparison of firms condition at different intervals  Called a balance sheet because it shows that assets are equal to total liabilities plus owner’s equity –Assets = Liabilities + Owner’s Equity 18

19. Income Statement  Charts the firm’s financial activities over a set period of time (also called a profit & loss statement)  Revenues and expenses are reported along with the appropriate profit or loss  Revenues – money coming in  Expenses – money going out 19

20. Team Any questions? 20