BUS 420 Final Exam Flashcards
1
Q
step 1 of problem solving process
A
define the problem:
Swot, Steep, TAGS, Is/Is not Analysis
2
Q
step 2 of problem solving process
A
segment the problem:
Pareto Charts, Flow Charts, Swimlane Charts,
Point of Occurrence Identification (gemba)
3
Q
step 3 of the problem solving process
A
set improvement targets:
SMART, Problem Statement
4
Q
step 4 of the problem solving process
A
identify root causes:
Brainstorming, Fishbone Analysis, 5 Why
5
Q
step 5 of problem solving process
A
develop countermeasures:
Countermeasure Evaluation Matrix
6
Q
step 6 of problem solving process
A
Implement Countermeasures:
TryStorming, Managing Change
7
Q
step 7 of problem solving process
A
monitor countermeasure effectiveness and results:
Plan vs Actual Charts, Pareto Charts, Run
Charts, Control Charts
8
Q
standardize, share success, and improve
A
Standard Work, Yokoten, Kaizen
9
Q
managerial functions
A
planning, organizing, leading, controlling
10
Q
resources
A
human, financial, raw materials, technological, information
11
Q
Manager What and How
A
70% What 30% How
12
Q
Manager, What
A
Plan, team, organize, meet goals
13
Q
Manager, How
A
Implementation systems, structure)
14
Q
Managerial Skills Include:
A
Technical, Human, Conceptual
15
Q
Managerial Competencies
A
Setting Objectives, Motivating, Communicating, Measure, Developing People
16
Q
Leader What and How
A
30% What 70% How
17
Q
Leader, What
A
strategy systems
18
Q
Leader, How
A
team mission, vision, culture
19
Q
SMART GOALS
A
Specific, Measurable, Achievable, Realistic, Timely
20
Q
S- Specific
A
Targeted, Planned, Specific Direction
21
Q
M- Measurable
A
Budget, Time measure
22
Q
A- Achievable
A
Linked to Rewards of outcomes
23
Q
R- Relevant
A
challenging but realistic
24
Q
T- Timely
A
defined time period
25
3 S's
Specific, Stretch, Standard
26
MBO
Management by Objectives
27
KPIs
Key Performance Indicators
- tool used to assess and measure
how well the organization is progressing toward achieving its strategic goal
28
Benefits of planning
provide motivation and commitment, resource allocation, guide to action, set the standard
29
Limitations of Planning
create too much pressure, false sense of certainty, rigidity, get in the way of creativity
30
organizational planning process
develop the plan, translate the plan, plan operations, performance management, monitor and learn
31
Levels of goals and plans
mission statement, strategic goals/senior management, tactical goals and plans, operational plans
32
strategic management
process of planning used to formulate and execute
strategies and actions that will provide a competitive advantage in achieving
company and organizational goals
33
stretch targets create
− Problem-solving opportunities, both strategically and operationally
− Incremental improvement opportunities
− Innovation opportunities
34
three levels of strategy
corporate level strategy (corporation), business level strategy (how do we compete), functional level strategy (Support: Finance, R&D, Marketing etc)
35
SWOT
Strengths, Weaknesses, Opportunities, Threats
36
Strengths/Opportunities
areas for improvement PSP
37
Threats/Weaknesses
areas for gap ID/mitigation PSP
38
embeddedness
deep understanding and acceptance of organizational
direction and purpose throughout the organization
39
problem (fever)
deviation from normal expectations
40
symptom (sweating)
effect of the problem
41
temporary measure
action that can be taken quickly to contain or stop problem
42
countermeasure
way to correct a deviation to address causes and prevent recurrence
43
causes (virus)
underlying the roots a system below the surface
44
internal SWOT analysis
identify and protect company strengths mitigate and eradicate weaknesses
45
external swot analysis
exploit external opportunities and countermeasure threats
46
SWOT Analysis notes
W- (gap)
O- (Stretch)
T- (Problem)
47
What external factors can create potential problems/gaps for
our firm’s capabilities?
STEEP (Social, Technological, Environmental, Economic Political)
48
TAGS
Trends, Actual, Gap, Standard
49
Trends
key in differentiating between common and special causes of variation
50
Actual
comes from the current state through the gumbo observation
51
Gap
Problem
52
Standard
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
What does tags analysis require?
IS/ISNOT Approach, (what, where, when, who, how big)
54
TAGS importance in step 1
impact, prioritization, risk/reward
55
non managers
technical, human, capital
56
middle managers
tech, human, conceptual
57
Plan
recognize and plan a change
58
Do
test change, carry out small, scale study
59
Act
take action
60
Check
Review, analyze, identify
61
segmenting the problem
important to break down into smaller, more specific problems, parrots,
61
prioritizing
what problem are we focusing on?
62
pareto analysis What
A general principle which states that 80% of results come
from 20% of causes in most things in life
63
pareto analysis When
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
Step 2 : focus on narrowing down the problem by
identifying classification factors, using pareto charts, high level flow charts, POO (Point of Occurrence)
65
Step3
define overall goal and problem statement, use TAGS, classify and segment, SMART goals
66
Step4 Identify root causes approach
brainstorm, explore and prioritize with fishbone and FOG, 5 why's and therefore
67
Step4 : cause and effect relationships must always be confirmed at
genba
68
Step5 developing countermeasures
identify (root causes) , (assess) consider cost/effort risk
69
countermeasure evaluation impact matrix
plan, immediate, drop, consider
70
step 6 implementation
communication, try storming (rapid testing), managing change
71
step 7 monitoring
evaluating results and processes to learn from successes and failures of implementation
72
step 8
standardize (new process as new standard0, share ( comm meetings, transferable practices), improve (use PDCA, kaizen mentality)
73
____ exists therefore ___ exists, leading to ____
cause, problem, effects
74
FOG approach
Prioritization method
75
F
Fact- Statement of truth, verified
76
O
Opinion, view or belief
77
G
Guess, Speculation, feeling, estimation
78
three components of monitoring countermeasures
overall effectiveness, individual effectiveness, sustainability
79
sustainability has these three components
awareness, responsilbity, accountability
80
leadership
the ability to influence people toward the attainment of goals
81
leader qualities
focus on people: visionary, promotes change, defines purpose, empowers, innovates, personal power
82
manager qualities
focus on the organization: rational, maintains stability, assigns tasks, organizes, analyzes, position powers
83
Four levels of leaderships
Level 5, Servant, Authentic, interactive
84
Level 5 Leadership Hierarchy
Level 1 - Individual (Capable)
Level 2- Team Member (contributing)
Level 3- Manager (competent)
Level 4- Leader (effective)
Level 5 - Executive (Level 5)
85
Level 5 Leadership
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
Servant leadership
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
Authentic Leadership
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
components of authentic leadership
pursues purpose with passion, practices solid values, leads with heart as well as head, self discipline, connects with others
89
Interactive Leadership
favors a consensus based and collaborative process, influence derives from relationships rather than position and formal authority
90
traits
distinguishing personal characteristics of a leader
91
two leadership behaviors
task oriented
people oriented
92
task versus people
consideration (HOW) INITIATING STRUCTURE (WHAT)
93
contingency approaches
method of exploring how the organizational situation influences leader effectiveness
94
situational model
subordinates vary in readiness (willingness and ability)
95
team
unit of two or more people who interact and coordinate work to accomplish a common goal
96
social facilitation
tendency for presence of others to enhance ones performance
97
teamwork requirements
focus on a shared mission, same direction, trust one another, willing to make sacrifices, communicating objectives and needs
98
what are the 5 contributions teams make
creativity, quality, speed,productivity,employee satisfaction
99
contributions of teams lead to ____ and ____
competitive advantage and higher overall org performance
100
functional team
manager and subordinated in formal chain of command
101
cross functional
composed of employees from about the same hierarchical level but from different areas of expertise
102
task force
group of employees from different departments formed to deal with a specific activity and only until task is completed
103
special purpose team
created outside the formal structure to undertake a project of special importance
104
self managed team
5-20 multi skilled workers who rotate jobs to produce at least one complete aspect
105
agile team
small team, focused on one aspect of a larger project
106
global team
cross border team made up of members of different nationalities whose activities spam multiple countries
107
what do virtual team leaders do?
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
free rider
team member who attains benefits from team membership but does not actively participate
109
five common dysfunctions
lack of trust, fear of conflict, lack of commitment, avoidance of accountability, inattention to results
110
work team effectiveness
satisfaction, productive output, capacity to adapt and learn, ability to set stretch goals and solve hard problems
111
size
3-6 members is the perfect sweet spot
112
five stages of team development
forming, storming, norming, performing, adjourning
113
forming
orientation, breaking the ice, aquaintedness, social discussions
114
storming
conflict, disagreement, participation
115
norming
establishing order and cohesion, unity
116
performing
cooperation, problem solving
117
performing
cooperation, problem solving
118
adjourning
task completion, conclusion
119
5 reasons members stay
great manager, smart coworkers, performance and productivity, culture, compensation
120
team norms
informal operating guidelines, frame of reference, safety
121
high directness low intensity
a person expresses conflict in a low voltage manner, most constructive approach, listening, debating, deliberating
122
innovation strategies
discovery, horizontal collaboration and open innovation, innovation roles and structures
123
3 stage model
unfreezing, changing, refreezing
124
critical management priority
remove roadblocks to discovery of talents, capabilities, and contributions of all team members
125
greater self awareness
soliciting feedback, using self assessment
126
big personality factors
extroversion, agreeableness, conscientiousness, emotional stability, openness to experience
127
channel richness
the amount of information that can be transmitted during a
communication episode,
