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E3 > Chapter 9--12 > Flashcards

Chapter 9--12 Flashcards

1
Q

Balogun and Hope Hailey identifed change types. What are they and explain

A
  • Adaption (Incremental/Realigment) - Slow steady change thats planned in same paradigm
  • Reconstruction (Big Bang/Realigment) - Rapid change due to competition but same paradigm
  • Evolution (Incremental/Transformational) - New paradigm but planned change
  • Revelution (Big Bang/Transformatinal) big change and rapid due to environmental changes
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2
Q

What is discontinuous change?

A

Sudden changes in Org environmental or operationals leads to new paradigm

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3
Q

What are the characteritsics of discontinous change

A
  • Vision reshaped
  • Multiple aspects of Org changed (S’s)
  • Future state is unclear
  • Speed of change is rapid
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4
Q

What are the S’s in McKinsey’s changing culture. Both hard and soft aspects

A

Hard

  • Strategy
  • Structure
  • Systems

Soft

  • Skills
  • Staff
  • Style of mgmt
  • Shared values
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5
Q

What are the ways to overcome change accoding to Kotter and Schlesinger

A
  • Education and Communication: Sold into staff
  • Participation and Involvement: May alleviate the resistance if they are involved in change
  • Facilitation and Support: Training and Councilling
  • Negotiation and Agreement: Unions to be considered and maybe Incentives to agree change
  • Maniuplation: Covert way but may increase resistance
  • Coercion: Rapid change and power enforced
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6
Q

What is the purpose of Performance Management

A
  • Feedback for control
  • Feeds into stakeholder communication (Profit updates)
  • Helps assess performance and reward systems
  • Motivation through goal settign thats achievable
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7
Q

What are the strengths of ROI

A
  • Comparable against other unequal division
  • Easily understandable
  • Useful for external investors
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8
Q

What are the weakness of ROI

A
  • Lead to dysfunctional behaviour
  • ROI cannot be set lower than WACC than a positive ROI may lead to investor wealth decline
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9
Q

What are the general criticisims of ROI and RI

A
  • Profit van be manipulated
  • Discourage asset investment which is crucial for innovation
  • Hard to compare against different industry due to assets
  • Can lead to ST decison making
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10
Q

What are the features of continuous change

A
  • Incremental
  • Does not change Paradigm
  • Minimium resistance
  • Small scale
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11
Q

​What are the features of discontinous change

A
  • Changes Paradigm
  • Fast
  • Change in Org Environment/Operations
  • Can be one off change or result of series of incremental
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12
Q

What are the cultural aspects of Balogun and Hope Bailey’s cultural web that need to be considered when managing change (7)

A
  • Symbols
  • Power
  • Organisational
  • Controls
  • Routines and rituals
  • Paradigm
  • Stories
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13
Q

What is McKinsey’s 7 “S” model used for

A
  • Shows the links between Org behavious and individuals
  • Shows that change affects Org and people
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14
Q

What are the features of Lewin’s 3 stage model to change

A

Unfreeze

  • Remove norm routines
  • Consult team members
  • Positive Re-inforcement

Change

  • Learn
  • Encourage staff participation
  • New behaviours and roles

Freeze

  • Embed new behaviours and standards
  • Positive re-inforcement such as rewards
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15
Q

What are the criticisms of Lewin’s 3 stage model to change

A
  • Assumes change is structured rather than continuous and multi dimensional
  • Underplays the fact that people will only change if tehy feel the need
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16
Q

What are the 4 P’s of transition

A
  • Purpose - why is change needed
  • Picture - What will future look and feel like
  • Plan - Steps to be taken
  • Part - Peoples part to achieve future state
17
Q

What are J, S & W 5 styles of change

A
  1. Education and communication
  2. Participation
  3. Interventions
  4. Direction
  5. Coercion
18
Q

Explain the GROW model when it comes to change

A

This is the development of managers capabilities through mentoring and coaching

  • Goals - what the learner wants to achieve
  • Reality - current position of learner
  • Options - to develop skills and achieve objectives
  • What - what is leanrer going to do and need to achieve
19
Q

What are the aspects of the Results and Determinants analysis?

A

Results

  • Competitive and Financial performance

Determinants

  • Quality of service
  • Flexibility
  • Resource Utilisation
  • Innovation
20
Q

What is the 4 stage approach to Balance Scorecard

A
  • Communicate mission to everyone
  • Link mission to depts and individual objectives
  • Use scorecard to prioritise objectves and allocate resources
  • Use feedback on performance to promote progress
21
Q

What downsides are there to the Balance Scorecard

A
  • Some measures may conflict
  • Must add value and not just easy to measure
  • Measures developed by someone who understands the biz
  • Cost vs Benefit
22
Q

What are the internal and external aspects of the Perforamce Pyramid

A

Internal

  • Financial Measures (Corp Level)
  • Productivity (SBU level)
  • Flexibility (SBU level)
  • Waste (Ops level)
  • Process time (Ops level)

External

  • Market satisfaction (Corp level)
  • Customer satisfaction (SBU level)
  • Flexibility (SBU level)
  • Quality (Ops level)
  • Delivery (Ops level)
23
Q

What is the formual for ROI

A

PBIT (Controllable profit) / Cap employed x 100

24
Q

What are the features of EVA

A
  • R&D added back to profit
  • Adv added back to profit
  • Non cash items are eliminated
  • One off unusual items are eliminated
  • Accounting profit is added back (Economic depreciaton is made instead)
  • Uses replacement cost
25
Q

What are the drivers of SVA

A
  • Sales
  • Profit Margins
  • Tax payable
  • Length of project
  • Fixed assets investment
  • Working Capital
  • Cost of capital
26
Q

What is the difference between CSF and KPI

A

CSF is what a business must achieve to be succesful

KPI is how progress with a CSF is measured

27
Q

What are the change roles within an org

A
  • Change leader - Pivotal internal fig
  • Change Advocate - Proposing change
  • Change sponsor - Legitmieses it
  • Change agent - Implements
  • Change target - Anyone undergoing change
28
Q

What are the 4Rs in Gemini framework to change

A
  • Reframing
  • Restructuring
  • Revitalising
  • Renewal
29
Q

When implementing the scorecard what order shoudl they be done in?

A
  • Translate vision
  • Communicating & Linking
  • Business Planning
  • Feedback and control
30
Q

What is a market orientation

A

Focusing on supplying cutomer needs

31
Q

Give one characteristic of SVA & EVA

A

SVA

  • NPV of future cashflows adj for COC

EVA

  • Profit is adjusted for LT investment such as R&D and training
32
Q

What are the 3 criteria for Transfer Pricing

A
  • Equity
  • Neutrality
  • Admin simplicity

E3 (5 decks)

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