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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
Q

Substantive (type of conflict)

A

deals with aspect of a team’s work or how they work together involving disagreements over policies and procedures

26
Q

Types of Training Methods

A
  • on the job coaching
  • mentoring
  • brown bag lunches
  • job shadowing
  • job swapping
  • vestibule (conference/classroom)
  • web based
27
Q

SWOT Analysis

A

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
Q

McClelland’s Theory on the Motives for Learning

A

achievement, power, and affiliation

29
Q

Human Capital Management

A

a strategic process that ensures decisions and proposals are backed with data derived from research and analysis of organizational activities

30
Q

The 5 Personality Traits

A
  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
Q

Heuristics

A

a problem solving approach that uses a more practical method, usually as an aid to learning

32
Q

Factors that Determine Perceptual Organization

A
  • figure-head
  • perceptual grouping
  • closure
  • proximity
  • similarity
  • perceptual constancy
  • perceptual context
33
Q

Figure-head (perception factors)

A

stands out against background

34
Q

Perceptual Grouping (perception factors)

A

perceptions brought together in pattern

35
Q

Closure (perception factors)

A

tendency to try to create wholes out of perceived parts

36
Q

Proximity (perception factors)

A

perceptions physically close together

37
Q

Similarity (perception factors)

A

similarity between perceptions

38
Q

Perceptual Constancy (perception factors)

A

the expectations of how perceptions were perceived in the past in present time

39
Q

Perceptual Context (perception factors)

A

tendency to organize perceptions in relation to other perceptions

40
Q

3 Levels of Corporate Culture

A
  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
Q

Top-down Change

A
  • 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
Q

Bottom-up Change

A

relies on the belief that employees will be more invested in change if they play a part in the design process

43
Q

Pro forma

A

financial report based on hypothetical scenarios

44
Q

2 Components of the Master Budget

A
  1. Operating Budget

2. Sales Budget

45
Q

Operating Budget (master budget)

A

made up of the sales plan, production plan, material purchasing plan, labor and hiring , and administrative discretionary spending data

46
Q

Production Budget

A

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
Q

Cost of Goods Sold (COGS)

A

all costs in material, labor, and overhead that are directly required for the production and or manufacturing of a good

48
Q

Selling, Admin, and General (SG+A)

A

support costs such as salaries

49
Q

Variable Costs

A

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
Q

Sales Budget (master budget)

A

provides info for production budget to estimate demand for goods, and determining if realistic, attainable profit can be achieved based on demand

51
Q

Contingency Plan

A

defines alternate paths for the project in case various difficulties are encountered i.e errors in estimates and inevitable delays

52
Q

Business Processing Re-engineering (BPR)

A

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
Q

POLC (BPR Steps)

A

plan: need for new strategy
organize: create new design
lead: decision making
control: requires change management skills

54
Q

Decentralized Operations

A

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
Q

6 Leadership Styles Related to Change

A
  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
Q

4 Essential Components of Corporate Strategy

A
  1. allocation of resources
  2. organizational design
  3. portfolio management
  4. strategic trade-offs
57
Q

Return on Investment

A

the profit received for investing, which is calculated by dividing the amount of money gained by the cost of investment in a percent

58
Q

Core Competencies

A

the skills and area of knowledge shared across business units that distinguish a firm and provides competitive advantage

59
Q

SMART Goals

A

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
Q

Situational Control

A

the interaction of leadership style and the situation

61
Q

Transactional Theories of Leadership

A
  • leadership based on an exchange between the leader and follower
  • relationship is positive and benefits both parties
62
Q

Full-range Theory of Leadership

A

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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