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Fundamentals of Success in Business > BPIBM PRE STUDY RESULTS > Flashcards

BPIBM PRE STUDY RESULTS Flashcards

1
Q

Affective (type of conflict)

A

arises as a result of inherent differences between team members often based on different communication or personality styles

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2
Q
  1. Ego (types of conflict)
A

when discussion shifts from issues to personal attacks

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3
Q
  1. Pseudo (types of conflict)
A

misunderstanding due to miscommunication were one or both failed to convey with the other was trying to convey

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4
Q
  1. Simple (types of conflict)
A

stems from different standpoints where you understand each other but disagree

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5
Q

3 Main Types of Conflict

A
  1. simple
  2. pseudo
  3. ego
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6
Q

3 Dimensions for Assessing the Need for Change

A
  1. scope for change
  2. level for change
  3. intentionality of change
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7
Q

The 4 Categories of Operational Strategy

A
  1. developing a well-integrated company
  2. producing products and services
  3. maximizing core competencies
  4. measuring competitive priorities
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8
Q

Soft Skills

A

refers to personality traits, social graces, and communication that are used to characterize relationships with others

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9
Q

The 3 Managerial Role Categories

A
  1. interpersonal: relational interaction and management
  2. informational: gathering, analyzing, storing and disseminating info
  3. decisions: the responsibility of making choices on behalf of the organization
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10
Q

The 2 Types of Conflict

A
  1. substantive or issue focused

2. affective or people focused

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11
Q

Six Sigma (standard incremental change practice)

A

method used to increase performance and decrease variation in process

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12
Q

Organizational Development (employee potential improvement)

A

focuses more on strategy, roles and processes that help both the organization and its people

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13
Q

Interpersonal (levels of conflict)

A

between individuals with different goals or personality—compromise for personal growth

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14
Q

Intrapersonal (levels of conflict)

A

within an individual that is psychological

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15
Q

Intergroup (level of conflict)

A

between different groups as a result of competition for resources

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16
Q

Intragroup (level of conflict)

A

between different individuals in the same group usually as a result of incompatible personalities

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17
Q

The seven most common decision making biases

A

irrational stubbornness: stick to the plan
zero-sum thinking: if you win, I lose
anchoring bias: original $3000, today $2000
framing: presentation matters
first impression bias: value on first presented data
shared negotiation: 2 parties in negotiation
overconfidence: I won once, I will win again

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18
Q

3 Primary Approaches to Conflict Resolution

A

integrative: Focusing on finding resolution that meets everyone’s needs
distributive: Finds ways to divide a fixed number of positive outcomes were one side comes out ahead of the other
mediating: Brings in third-party to facilitate resolution

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19
Q

3 Models of Communication

A
  1. Transmission: One-way process were center intentionally transmits message
  2. Interaction: Two-way process when participants alternate positions at sender and receiver
  3. Transaction: When communications generate social realities
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20
Q

Triple Bottom Line

A

How decision might affect an organization economically, socially, and environmentally

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21
Q

3 Distinct Types of Messages

A

Primary: intentional content both verbal and nonverbal

Secondary: unintentional content both verbal and nonverbal

Auxiliary: intentional and unintentional Waze a primary message is communicated including voice inflection and gestures

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22
Q

Gibbs Reflective Cycle

A

Experience, feelings, evaluation, analysis, conclusion, and action plan

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23
Q

Kolb Learning Cycle

A

experience, reflection, conceptualization, reframe understanding, and experimenting with new perspective

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24
Q

Perception Checking

A

a strategy to help monitor reactions and perceptions about people and communication

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25
Substantive (type of conflict)
deals with aspect of a team’s work or how they work together involving disagreements over policies and procedures
26
Types of Training Methods
- on the job coaching - mentoring - brown bag lunches - job shadowing - job swapping - vestibule (conference/classroom) - web based
27
SWOT Analysis
the process of looking at the organization's strengths, weaknesses, opportunities, and threats when strategizing the best path to meet the organization's mission
28
McClelland's Theory on the Motives for Learning
achievement, power, and affiliation
29
Human Capital Management
a strategic process that ensures decisions and proposals are backed with data derived from research and analysis of organizational activities
30
The 5 Personality Traits
1. Openness: curiosity and open to new ideas 2. Conscientiousness: self disciplines and dependable 3. Extraversion: positive emotions and sociability 4. Agreeableness: showing compassion and cooperativeness 5. Neuroticism: vulnerability to unpleasant emotions
31
Heuristics
a problem solving approach that uses a more practical method, usually as an aid to learning
32
Factors that Determine Perceptual Organization
- figure-head - perceptual grouping - closure - proximity - similarity - perceptual constancy - perceptual context
33
Figure-head (perception factors)
stands out against background
34
Perceptual Grouping (perception factors)
perceptions brought together in pattern
35
Closure (perception factors)
tendency to try to create wholes out of perceived parts
36
Proximity (perception factors)
perceptions physically close together
37
Similarity (perception factors)
similarity between perceptions
38
Perceptual Constancy (perception factors)
the expectations of how perceptions were perceived in the past in present time
39
Perceptual Context (perception factors)
tendency to organize perceptions in relation to other perceptions
40
3 Levels of Corporate Culture
1. fundamental assumptions about human behavior that are ingrained and difficult to identify 2. expressed values drawn from assumptions: appearing the form standards, and rules of an organization's philosophy 3. artifacts that are the outcome of the assumptions and values: appearing in the form of actions, and policies
41
Top-down Change
- relies on mechanistic assumptions about the nature of an organization - small groups design processes on how to change - relies on formal organization to drive the change
42
Bottom-up Change
relies on the belief that employees will be more invested in change if they play a part in the design process
43
Pro forma
financial report based on hypothetical scenarios
44
2 Components of the Master Budget
1. Operating Budget | 2. Sales Budget
45
Operating Budget (master budget)
made up of the sales plan, production plan, material purchasing plan, labor and hiring , and administrative discretionary spending data
46
Production Budget
consists of costs inside the organization where the principle objective is to coordinate the production and sale of goods in terms of time and quantity
47
Cost of Goods Sold (COGS)
all costs in material, labor, and overhead that are directly required for the production and or manufacturing of a good
48
Selling, Admin, and General (SG+A)
support costs such as salaries
49
Variable Costs
change in relation to a specific variable such as how many units are sold--the higher the forecast, the higher the selling expenses including labor, materials, and shipping costs
50
Sales Budget (master budget)
provides info for production budget to estimate demand for goods, and determining if realistic, attainable profit can be achieved based on demand
51
Contingency Plan
defines alternate paths for the project in case various difficulties are encountered i.e errors in estimates and inevitable delays
52
Business Processing Re-engineering (BPR)
a business management strategy that focuses on the analysis of workflows and processes to encourage full scale recreation of processes rather than optimization of sub processes
53
POLC (BPR Steps)
plan: need for new strategy organize: create new design lead: decision making control: requires change management skills
54
Decentralized Operations
daily operations decision-making responsibilities are delegated by top managers to middle or low management so top-level managers can focus on strategical planning
55
6 Leadership Styles Related to Change
1. anti-change: seeking to avoid change 2. rational: how to control change with logical planning 3. panacea: communicate and motivate 4. bolt-on: gain control and help others 5. integrated: using structure and discipline 6. continuous: anticipate regular change
56
4 Essential Components of Corporate Strategy
1. allocation of resources 2. organizational design 3. portfolio management 4. strategic trade-offs
57
Return on Investment
the profit received for investing, which is calculated by dividing the amount of money gained by the cost of investment in a percent
58
Core Competencies
the skills and area of knowledge shared across business units that distinguish a firm and provides competitive advantage
59
SMART Goals
goals that are: Specific: clear and narrow--where Measurable: an increment of some kind Attainable: smaller goal within a large mission Relevant to the mission: goals that will help achieve Time-bound: a date or time for completion
60
Situational Control
the interaction of leadership style and the situation
61
Transactional Theories of Leadership
- leadership based on an exchange between the leader and follower - relationship is positive and benefits both parties
62
Full-range Theory of Leadership
a component of transactional leadership which enhances morale and motivation by connecting the employees sense of identity to a project and the collective identity of the organization

Fundamentals of Success in Business (3 decks)

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