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FALL > BUS 420 Final Exam > Flashcards

BUS 420 Final Exam Flashcards

1
Q

step 1 of problem solving process

A

define the problem:

Swot, Steep, TAGS, Is/Is not Analysis

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2
Q

step 2 of problem solving process

A

segment the problem:

Pareto Charts, Flow Charts, Swimlane Charts,
Point of Occurrence Identification (gemba)

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3
Q

step 3 of the problem solving process

A

set improvement targets:

SMART, Problem Statement

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4
Q

step 4 of the problem solving process

A

identify root causes:

Brainstorming, Fishbone Analysis, 5 Why

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5
Q

step 5 of problem solving process

A

develop countermeasures:

Countermeasure Evaluation Matrix

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6
Q

step 6 of problem solving process

A

Implement Countermeasures:

TryStorming, Managing Change

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7
Q

step 7 of problem solving process

A

monitor countermeasure effectiveness and results:

Plan vs Actual Charts, Pareto Charts, Run
Charts, Control Charts

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8
Q

standardize, share success, and improve

A

Standard Work, Yokoten, Kaizen

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9
Q

managerial functions

A

planning, organizing, leading, controlling

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10
Q

resources

A

human, financial, raw materials, technological, information

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11
Q

Manager What and How

A

70% What 30% How

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12
Q

Manager, What

A

Plan, team, organize, meet goals

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13
Q

Manager, How

A

Implementation systems, structure)

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14
Q

Managerial Skills Include:

A

Technical, Human, Conceptual

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15
Q

Managerial Competencies

A

Setting Objectives, Motivating, Communicating, Measure, Developing People

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16
Q

Leader What and How

A

30% What 70% How

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17
Q

Leader, What

A

strategy systems

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18
Q

Leader, How

A

team mission, vision, culture

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19
Q

SMART GOALS

A

Specific, Measurable, Achievable, Realistic, Timely

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20
Q

S- Specific

A

Targeted, Planned, Specific Direction

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21
Q

M- Measurable

A

Budget, Time measure

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22
Q

A- Achievable

A

Linked to Rewards of outcomes

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23
Q

R- Relevant

A

challenging but realistic

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24
Q

T- Timely

A

defined time period

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25
Q

3 S’s

A

Specific, Stretch, Standard

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26
Q

MBO

A

Management by Objectives

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27
Q

KPIs

A

Key Performance Indicators
- tool used to assess and measure
how well the organization is progressing toward achieving its strategic goal

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28
Q

Benefits of planning

A

provide motivation and commitment, resource allocation, guide to action, set the standard

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29
Q

Limitations of Planning

A

create too much pressure, false sense of certainty, rigidity, get in the way of creativity

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30
Q

organizational planning process

A

develop the plan, translate the plan, plan operations, performance management, monitor and learn

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31
Q

Levels of goals and plans

A

mission statement, strategic goals/senior management, tactical goals and plans, operational plans

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32
Q

strategic management

A

process of planning used to formulate and execute
strategies and actions that will provide a competitive advantage in achieving
company and organizational goals

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33
Q

stretch targets create

A

− Problem-solving opportunities, both strategically and operationally
− Incremental improvement opportunities
− Innovation opportunities

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34
Q

three levels of strategy

A

corporate level strategy (corporation), business level strategy (how do we compete), functional level strategy (Support: Finance, R&D, Marketing etc)

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35
Q

SWOT

A

Strengths, Weaknesses, Opportunities, Threats

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36
Q

Strengths/Opportunities

A

areas for improvement PSP

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37
Q

Threats/Weaknesses

A

areas for gap ID/mitigation PSP

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38
Q

embeddedness

A

deep understanding and acceptance of organizational
direction and purpose throughout the organization

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39
Q

problem (fever)

A

deviation from normal expectations

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40
Q

symptom (sweating)

A

effect of the problem

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41
Q

temporary measure

A

action that can be taken quickly to contain or stop problem

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42
Q

countermeasure

A

way to correct a deviation to address causes and prevent recurrence

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43
Q

causes (virus)

A

underlying the roots a system below the surface

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44
Q

internal SWOT analysis

A

identify and protect company strengths mitigate and eradicate weaknesses

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45
Q

external swot analysis

A

exploit external opportunities and countermeasure threats

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46
Q

SWOT Analysis notes

A

W- (gap)
O- (Stretch)
T- (Problem)

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47
Q

What external factors can create potential problems/gaps for
our firm’s capabilities?

A

STEEP (Social, Technological, Environmental, Economic Political)

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48
Q

TAGS

A

Trends, Actual, Gap, Standard

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49
Q

Trends

A

key in differentiating between common and special causes of variation

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50
Q

Actual

A

comes from the current state through the gumbo observation

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51
Q

Gap

A

Problem

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52
Q

Standard

A

driven by goal setting and many times connects with the customer, based on what is currently being measured, or can be created to stretch org

53
Q

What does tags analysis require?

A

IS/ISNOT Approach, (what, where, when, who, how big)

54
Q

TAGS importance in step 1

A

impact, prioritization, risk/reward

55
Q

non managers

A

technical, human, capital

56
Q

middle managers

A

tech, human, conceptual

57
Q

Plan

A

recognize and plan a change

58
Q

Do

A

test change, carry out small, scale study

59
Q

Act

A

take action

60
Q

Check

A

Review, analyze, identify

61
Q

segmenting the problem

A

important to break down into smaller, more specific problems, parrots,

61
Q

prioritizing

A

what problem are we focusing on?

62
Q

pareto analysis What

A

A general principle which states that 80% of results come
from 20% of causes in most things in life

63
Q

pareto analysis When

A

A means for identifying 20% of the things causing
majority of the problems,When analyzing data about the frequency of problems
or causes in a process

64
Q

Step 2 : focus on narrowing down the problem by

A

identifying classification factors, using pareto charts, high level flow charts, POO (Point of Occurrence)

65
Q

Step3

A

define overall goal and problem statement, use TAGS, classify and segment, SMART goals

66
Q

Step4 Identify root causes approach

A

brainstorm, explore and prioritize with fishbone and FOG, 5 why’s and therefore

67
Q

Step4 : cause and effect relationships must always be confirmed at

A

genba

68
Q

Step5 developing countermeasures

A

identify (root causes) , (assess) consider cost/effort risk

69
Q

countermeasure evaluation impact matrix

A

plan, immediate, drop, consider

70
Q

step 6 implementation

A

communication, try storming (rapid testing), managing change

71
Q

step 7 monitoring

A

evaluating results and processes to learn from successes and failures of implementation

72
Q

step 8

A

standardize (new process as new standard0, share ( comm meetings, transferable practices), improve (use PDCA, kaizen mentality)

73
Q

____ exists therefore ___ exists, leading to ____

A

cause, problem, effects

74
Q

FOG approach

A

Prioritization method

75
Q

F

A

Fact- Statement of truth, verified

76
Q

O

A

Opinion, view or belief

77
Q

G

A

Guess, Speculation, feeling, estimation

78
Q

three components of monitoring countermeasures

A

overall effectiveness, individual effectiveness, sustainability

79
Q

sustainability has these three components

A

awareness, responsilbity, accountability

80
Q

leadership

A

the ability to influence people toward the attainment of goals

81
Q

leader qualities

A

focus on people: visionary, promotes change, defines purpose, empowers, innovates, personal power

82
Q

manager qualities

A

focus on the organization: rational, maintains stability, assigns tasks, organizes, analyzes, position powers

83
Q

Four levels of leaderships

A

Level 5, Servant, Authentic, interactive

84
Q

Level 5 Leadership Hierarchy

A

Level 1 - Individual (Capable)
Level 2- Team Member (contributing)
Level 3- Manager (competent)
Level 4- Leader (effective)
Level 5 - Executive (Level 5)

85
Q

Level 5 Leadership

A

Lack of ego (humility, fierce, shy and self effacing, accepts responsibility for failures and gives credit to other successes, modest, not pretentious, Highest level

86
Q

Servant leadership

A

Leader serves to help the worker develop, transcending self interest to serve others, org, and society, give away power, ideas info recognition, credit, Money

87
Q

Authentic Leadership

A

draws on leaders self awareness, self regulation, alignment of words and actions toward followers, inspire trust, high value on personal relationships, never asking a team member to do something they would not do themselves

88
Q

components of authentic leadership

A

pursues purpose with passion, practices solid values, leads with heart as well as head, self discipline, connects with others

89
Q

Interactive Leadership

A

favors a consensus based and collaborative process, influence derives from relationships rather than position and formal authority

90
Q

traits

A

distinguishing personal characteristics of a leader

91
Q

two leadership behaviors

A

task oriented
people oriented

92
Q

task versus people

A

consideration (HOW) INITIATING STRUCTURE (WHAT)

93
Q

contingency approaches

A

method of exploring how the organizational situation influences leader effectiveness

94
Q

situational model

A

subordinates vary in readiness (willingness and ability)

95
Q

team

A

unit of two or more people who interact and coordinate work to accomplish a common goal

96
Q

social facilitation

A

tendency for presence of others to enhance ones performance

97
Q

teamwork requirements

A

focus on a shared mission, same direction, trust one another, willing to make sacrifices, communicating objectives and needs

98
Q

what are the 5 contributions teams make

A

creativity, quality, speed,productivity,employee satisfaction

99
Q

contributions of teams lead to ____ and ____

A

competitive advantage and higher overall org performance

100
Q

functional team

A

manager and subordinated in formal chain of command

101
Q

cross functional

A

composed of employees from about the same hierarchical level but from different areas of expertise

102
Q

task force

A

group of employees from different departments formed to deal with a specific activity and only until task is completed

103
Q

special purpose team

A

created outside the formal structure to undertake a project of special importance

104
Q

self managed team

A

5-20 multi skilled workers who rotate jobs to produce at least one complete aspect

105
Q

agile team

A

small team, focused on one aspect of a larger project

106
Q

global team

A

cross border team made up of members of different nationalities whose activities spam multiple countries

107
Q

what do virtual team leaders do?

A

find ways to build trust and relationships (in person gatherings, equal participation, share and appreciate diversity

shape team culture , safe environment, flexibility

monitor progress, rewards, motivation

108
Q

free rider

A

team member who attains benefits from team membership but does not actively participate

109
Q

five common dysfunctions

A

lack of trust, fear of conflict, lack of commitment, avoidance of accountability, inattention to results

110
Q

work team effectiveness

A

satisfaction, productive output, capacity to adapt and learn, ability to set stretch goals and solve hard problems

111
Q

size

A

3-6 members is the perfect sweet spot

112
Q

five stages of team development

A

forming, storming, norming, performing, adjourning

113
Q

forming

A

orientation, breaking the ice, aquaintedness, social discussions

114
Q

storming

A

conflict, disagreement, participation

115
Q

norming

A

establishing order and cohesion, unity

116
Q

performing

A

cooperation, problem solving

117
Q

performing

A

cooperation, problem solving

118
Q

adjourning

A

task completion, conclusion

119
Q

5 reasons members stay

A

great manager, smart coworkers, performance and productivity, culture, compensation

120
Q

team norms

A

informal operating guidelines, frame of reference, safety

121
Q

high directness low intensity

A

a person expresses conflict in a low voltage manner, most constructive approach, listening, debating, deliberating

122
Q

innovation strategies

A

discovery, horizontal collaboration and open innovation, innovation roles and structures

123
Q

3 stage model

A

unfreezing, changing, refreezing

124
Q

critical management priority

A

remove roadblocks to discovery of talents, capabilities, and contributions of all team members

125
Q

greater self awareness

A

soliciting feedback, using self assessment

126
Q

big personality factors

A

extroversion, agreeableness, conscientiousness, emotional stability, openness to experience

127
Q

channel richness

A

the amount of information that can be transmitted during a
communication episode,

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