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Business - test 5 > Business > Flashcards

Business Flashcards

1
Q

Big five personality traits

A

Open
Extraverted
Conscientious
Stable
Agreeable

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2
Q

Extraversion

A

Outgoing
Sociable
Assertive
Comfortable and confident when dealing with others

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3
Q

Agreeableness

A

Good natured
Co-operative
Trusting
Get along with others

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4
Q

Conscientiousness

A

Responsible
Dependable
Careful
Focus on goals
Meet commitment

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5
Q

Emotional stability

A

Relaxed
Secure
Unworried
Calm
Stable
Confident

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6
Q

Openness

A

Curious
Open to new ideas
Imaginative
Broad-minded
Receptive to new things
Comfortable with change

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7
Q

What is the definition of emotional intelligence?

A

The ability to manage ourselves and our relationships effectively

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8
Q

What is emotional intelligence?

A

Reflected in how well you recognize, understand and manage feelings while interacting with others

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9
Q

Why is emotional intelligence important?

A

High emotional intelligence allows you to recognize and control your own emotions as well as recognize and manage others emotions before they become disruptive

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10
Q

Attitude

A

Attitude is a tendency to react a certain way to your environment and others

People hold attitudes towards many things in the workplace – bosses, coworkers, tasks, policies, customers etc.

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11
Q

Thought

A

thinking a certain way or having a certain belief

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12
Q
A
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13
Q

Behaviour

A

acting in such a way that is consistent with belief and feeling

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14
Q

Perception

Attitude

A

The Self Fulfilling prophecy: What you think will happen, will happen if it’s a reflection of your attitude and satisfaction

Poker Chip Theory: Self esteem and “Risk Taking”

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15
Q

Cognitive dissonance

A

is a bad feeling when thoughts and affects do not match behaviour.

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16
Q

People usually do one of the following when experiencing cognitive dissonance

A
  1. Change thought or affect to fit behaviour
  2. Change future behaviour to fit the thought and affect
  3. Rationalize to make the existing behaviour make sense with the thought and affect
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17
Q

Job Satisfaction

A

Job Satisfaction is the degree to which an individual feels positive or negative about aspects of their work life.

Stats Canada found that only 1 in 12 Canadians were dissatisfied with their job

Job satisfaction tends to be higher in small firms rather than larger ones

Job satisfaction and overall life satisfaction tend to be closely linked

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18
Q

The four attitudes that matter most… according to the text

A
  1. Believing you have the opportunity to do your best
  2. Believing ones opinions count
  3. Believing fellow workers are committed
  4. Believing there is a direct connection between ones work and the companies mission
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19
Q

Components of Job Satisfaction

Work itself

A

does the job offer responsibility, interest, challenge?

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20
Q

Components of Job Satisfaction

Quality of supervision

A

are task and social support available?

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21
Q

Components of Job Satisfaction

Co-workers

A

how much harmony, respect, friendliness exist?

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22
Q

Components of Job Satisfaction

Opportunities

A

are there avenues for promotion, learning, growth?

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23
Q

Components of Job Satisfaction

Pay

A

is compensation actually and perceived to be fair?

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24
Q

Components of Job Satisfaction

Work conditions

A

do conditions offer comfort, safety, support?

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25
Q

Components of Job Satisfaction

Security

A

is the task and employment secure?

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26
Q

Internal: Cognitive Dissonance

A

When your actions and beliefs conflict with one another

Eg. You want to be eco friendly but find out your car is not fuel efficient

You want to be a good teammate, but are riding the bench, also want to play

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27
Q

External: Unmet Expectations

A

When you go into a situation/ event expecting something and it does not occur as expected or at all

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28
Q

Poor Job Satisfaction Outcomes

A

Absenteeism, Turnover

Both absenteeism and turnover is very costly to any organization because of the productivity lost and the cost to train a new employee

Not all happy workers are good workers, some people can be happy and just terrible at their job, others can be good at their job but miserable

Job satisfaction and job performance are related, high performing workers tend to feel more satisfied

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29
Q

Individual Performance

A

The quality and quantity of tasks accomplished. Based on three factors

Ability: Capacity. Proper selection, training and development.

Effort: Willingness. Intrinsic is more enduring than extrinsic.

Support: Opportunity. Resources, goals, operational freedom, technology and feedback

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30
Q

CHARACTERISTICS OF EFFECTIVE LEADERS

A

Integrity
Drive
Vision
Commitment to Equity

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31
Q

Integrity

A

TRUSTWORTHY, HONEST, DEPENDABLE, TRANSPARENT

LEADERS WHO DEMONSTRATE INTEGRITY INSPIRE CONFIDENCE BY THE WAY THEY ARE OPEN AND SUPPORTIVE IN THE WORKPLACE

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32
Q

Drive

A

🡪 MOTIVATED, INITIATIVE, TENACITY, SELF-CONFIDENCE

LEADERS MUST BE DRIVEN TO SUCCEED IN ORDER TO INSPIRE OTHERS TO WORK WITH PASSION AND EFFORT. LEADERS MUST TRUST THEMSELVES AND THEIR ABILITIES

LEADERS ENJOY INFLUENCING OTHERS TOWARDS COMMON GOAL

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33
Q

Vision

A

CREATIVE, INSIGHTFUL AND ORGANIZED

LEADERS SHOULD HAVE A CLEAR IDEA AND PLAN FOR WHERE THEY AND THEIR GROUP ARE HEADED NEXT. LEADERS SHOULD BE ABLE TO GENERATE NEW IDEAS, ORIGINAL APPROACHES WHEN ENCOUNTERING DIFFICULT TIMES

34
Q

COMMITMENT TO EQUITY AND DIVERSITY

A

KINDNESS, FAIRNESS, UNDERSTANDING, FLEXIBILITY

LEADERS NEED TO UNDERSTAND THEIR WORKFORCE AND DEVELOP SOLUTIONS AND ENVIRONMENTS THAT ARE SUITABLE FOR THEM TO WORK AND ACHIEVE.

EACH OF US DESIRES FAIRNESS IN OUR LIVES AND INEQUITY CAN BE A HUGE STRESSOR

35
Q

Team (definition):

A

Is a collection of people who regularly interact to pursue common goals.

36
Q

Teamwork (definition):

A

Is the process of people actively working together to accomplish common goals.

37
Q

Challenges of teamwork

A

Personality conflicts

Individual differences in personality and work style

Ambiguous agendas

Ill-defined problems

Motivation issues

Conflicts with other work deadlines and priorities

Lack of team organization

Time-management issues.

38
Q

The five stages of group development

A

Forming
Storming
Norming
Performing
adjourning

39
Q

Forming

A

Individuals enter into the group, get acquainted with members,
and establishing relationships

Acceptable behavior is determined

Members learn about each others strengths roles and how they
will work together

Learning how others perceive the team’s task

40
Q

Storming

A

High emotions, possibility of hostility or infighting

Conflict, competition and tensions emerge over interpersonal concerns

Important changes occur, like role clarification and deadlines, sub-teams form

Start to consider possible obstacles
Lasting effect, positives or negative

41
Q

Norming

A

Co-operation and follow shared rules of conduct

Members are falling into useful roles (leader for example)

The team may not be performing at its peak level yet, but the wrinkles are starting to be ironed out, and good progress is starting to be made

This stage often includes elements of sharing, trust building, and cohesion.

42
Q

Performing

A

Organized and functioning well

Solve creative and complex tasks

Solve interpersonal conflicts

Operates with clear structure and goals

Team chemistry

43
Q

Adjourning

A

Team break-up

Can be an emotional period

Acknowledge contributions

Celebrate success

44
Q

Manager roles in Teams
A common misconceptions

A

Managers can often take different roles when working in teams.

A common misconception is that on a team, a manager is always the leader or direct supervisor of the team.

This isn’t always the case.

45
Q

Team Leader

A

When the manager acts as the team leader, they are essentially keeping the typical role of manager. They oversee the team and continue to provide clear direction, while acting as supervisor and appointed head of the team.

46
Q

Network Facilitator

A

In this role, the manager acts more as a collaborative leader, but not actively supervising directly, all the time. The manager is there, will check in, and provide direction and assistance when required.

47
Q

Team Member

A

When a manager takes the role of a team member, he or she becomes an active contributor to the team. The manager is not acting as a supervisor, but as a same level contributor as any other member on the team.

48
Q

External Coach

A

A manager acting as an External Coach for a team is essentially taking a true hands-off role. The manager is there and can be accessed when help or assistance is required, but really doesn’t take an active direct role in the team.

49
Q

Type of Teams

A

Formal

Informal

Committees

Project team

Virtual teams

50
Q

Formal

A

Teams officially designated and designed by the organization

Essential roles

Executive management, middle management, first level management, workforce

Departments, Units, Teams, Divisions, etc

51
Q

INFORMAL

A

Form naturally, not designated, occur in organization

Based on common interest

Can lead to friendship groups / support groups

Increase Quality of Work Life

52
Q

Committees

A

Brings people together outside daily assignments

Small team with a specific purpose

Usually very narrow in scope

Ongoing in nature

Example : Health and Safety committee, unless large organization this is not enough for a job on its own, but a necessary components. Meets the first Monday of every month to address any health and safety concerns, with a goal of being proactive and preventative in nature.

53
Q

PROJECT TEAM

A

People assembled to work on a common problem

Temporary

Specific goals

Completion deadlines are clear

Example: Staff would like to raise money for a charity and have fun doing it as a team building activity. A group of people meet, and come up with a number of possibilities and then report back to the organization with their final decision and game plan for how to make it happen.

54
Q

Virtual Team

A

Work together primarily in an online environment, rather than face to face

Easier to communicate in an online forum at the leisure of each member, when they can make time or best fits their schedule

Can save time and travel expenses

The lack of face-to-face can lead to problems, no nonverbal cues, can be disconnected

55
Q

What makes a group effective?

A

Shared norms

Cohesiveness

CULTURAL EXPECTATIONS

Social loafing

56
Q

How to build positive norms

A

Act as a positive role model.

Reinforce the desired behaviours with rewards.

Control results by performance reviews and feedback.

Train and orient new members to adopt desired behaviours.

Recruit and select new members who exhibit the desired behaviours.

Hold regular meetings to discuss progress and ways of improving.

Use team decision-making methods to reach agreement.

57
Q

Shared norms

A

A norm is a behavior expected of team members

Examples of norms would be:

Performance: the level of effort team members are expected to contribute
Timeliness: how quickly team members are expected to have tasks completed
Quality: the standard that team members’ work is expected to achieve

58
Q

Cohesiveness

A

Cohesiveness is the degree to which team members are attracted to and motivated to remain part of a team

Highly cohesive teams have members that value their role and try to maintain positive relationships with other team members; they tend to follow the norms

A really high level of cohesiveness can be a disadvantage

Members may feel so strongly about the group that they may not want to “go against” the majority. This concept is called GROUPTHINK.

59
Q

HOW COHESIVENESS AND NORMS INFLUENCE TEAM PERFORMANCE

A

Low Performance
Strong commitments to harmful norms

High Performance
Strong commitments to supportive norms

Low-Moderate Performance
Weak commitments to harmful norms

Moderate Performance
Weak commitments to supportive norms

60
Q

CULTURAL EXPECTATIONS

A

Culturally diverse teams have more difficulty learning how to work well together – they struggle more in the early stages of group development

Culturally diverse teams however, provide more perspectives and experiences that can help in problem solving and make them more effective in the end

When teams are homogeneous (meaning the members are very similar) it is easier to manage relationships

61
Q

Two sources of managerial power:

A

Position power
Personal power

62
Q

Position power

A

Based on a manager’s official status in the organization

63
Q

Reward power

A

Capability to offer something of value - $ or praise

64
Q

Coercive power

A

Capability to punish or withhold positive
outcomes

65
Q

Legitimate power

A

Organizational position or status confers the
right to control those in subordinate positions

66
Q

Personal power.

A

Based on the unique personal qualities that a person brings to the leadership situation.

67
Q

Expert power

A

Capacity to influence others because of one’s knowledge and skills.

68
Q

Referent power

A

Capacity to influence others because they admire you and want to identify positively with you.

69
Q

What is a leadership theory?

A

A leadership theory is a philosophy each leader has about the ideal relationship they have with their staff and nature/ motivation for the work they do

70
Q

What is a leadership style?

A

A leadership style is the method a leader chooses to implement their leadership philosophy

71
Q

Leadership behavior …

A

how leaders behave when working with followers
Concern for the task
Concern for the people

72
Q

Task concerns

A

Plans and defines work to be done.

Assigns task responsibilities.

Sets clear work standards.

Urges task completion.

Monitors performance results.

73
Q

People concerns

A

People concerns
Acts warm and supportive toward followers.
Develops social rapport with followers.
Respect the feelings of followers.
Is sensitive to followers’ needs.
Shows trust in followers.

74
Q

Country Club Manager (High,Low)

A

Focuses on people’s needs, building relationship

75
Q

Team Manager (High, High)

A

Focuses on building participation and support for a shared purpose

76
Q

Impoverished Manager(Low, Low)

A

Focuses on minimum effort to get work done

77
Q

Authority-Obedience Manager(Low, High)

A

Focuses on efficacy of tasks and operations

78
Q

Leadership styles

A
  1. Autocratic
  2. Collaborative
  3. Laissez-Faire
  4. Democratic
79
Q

Laissez-Faire style

A

hows little concern for task, lets the group make decisions, and acts with a
“do the best you can and don’t bother me” attitude”

80
Q

Democratic Style

A

Committed to task and people, getting things done while sharing information, encouraging participation in decision making, and helping people develop skills and competencies.

Business - test 5 (1 decks)

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