Cima E2 Knowledge Gaps Flashcards
Which of following could act as a barrier to entry?
- Patents and licences
- Many suppliers
- Economies of scale
- Differentiated products
- Government policy
- Low initial investment
All but no2 And 6 these make it easier
Differentiated products can be a barrier to entry. Where established firms have good brand image and customer loyalty, the costs of overcoming this can be prohibitive.
According to herzberg motivation theory, which of the following should be in place to avoid dissatisfaction?
- Teamworking
- Career enhancement
- Pleasant physical and working conditions
- Appropriate salary and status for job
- increasing levels of responsibility
1,3,5 these are hygiene factors (avoid dissatisfaction)
Other 2 are motivational factors
What are 9 belbin team roles?
- Co-ordinator - mature and confident. Ensures team focuses on objectives. Delegates well.
- Shaper -Challenging and dynamic. Provides the drive to keep the team moving. Promotes activity
- Plant - thoughtful and creative. Generates original ideas
- Monitor Evaluator - logical and analytical. Evaluates options in an impartial manner
- Resource investigator- enthusiastic and inquisitive. Finds ideas from outside the organisation to bring to the team.
- Implementer- practical and reliable. Deals with planning and scheduling. Drives efficiency.
- Teamworker - cooperative and diplomatic. Concerned with relationships within the team. Diffuses conflict.
- Completer finisher - anxious and conscientious. Scrutinises the work of team for errors. Quality control
- Specialist - single minded and dedicated. Brings in depth specialist knowledge to solve technical problems.
This doesn’t mean a team can’t be effective with less than nine people. Members can adopt more than one role. However an absence of one of the functions can lead to a reduction in team effectiveness.
What are extrinsic and intrinsic rewards?
Extrinsic- separate to the job itself and dependant on the decisions of others. Ie pay, working conditions,benefits.
Intrinsic- arise from performance of the job itself. Includes feeling of satisfaction of doing job well, being allowed to make higher level decisions or being interested in your job
What are the 10 schools of thought identified in Strategy safari?
Split them into the 2 categories.
2 main categories are:
prescriptive schools- explain how strategy should be formulated.
Descriptive schools- how strategy actually are formed.
Prescriptive schools:
Design school (conception) - strategy development seen as a rational process which seeks to establish a fit between internal capabilities and external possibilities
Planning school (formal) - strategy is developed by specialists using rigorous strategy planning methodologies.
Positioning school - strategy is a combination of offensive and defensive moves based on the premise industry structure drives strategy position which drive organisational structure.
Design/planning schools closely linked to rational model.main tool in design school is swot. Positioning schools uses tools such as Boston consulting group, porters generic strategies & porters value chains.
Descriptive schools: Environmental school (reactive)-strategy develops as a responsive to environment it operates in.
Cognitive school (mental) - strategy development is an act of understanding how the mind works and processing information is the key to understanding strategy development.
Entrepreneurial School (visionary)- strategy developed is dependent on the vision of one entrepreneurial individual
Power school (negotiation) strategy results from power struggles within the organisation and in the marketplace
Cultural school (collective) strategy development is a process of social interaction that takes place within the context of beliefs and shared values of members of the organisation.
Learning school (emergent) strategy emerges as a result of trial and error and learnings within the organisation
Configuration school (transformation) strategy is a conscious act of transforming and organisation from one state to another.
As parts of 5 forces analysis, which of the following would cause rivalry among existing competitors to be higher?
- Rapid growth in the market
- High fixed costs
- relative quality and costs of similar products
- There are high barriers to entry
2
Competitors will need to sell a lot to cover fixed costs so will fight aggressively to maximise sales.
Rapid growth in market would actually make competition less intense as existing businesses would struggle to keep up with demand and not need to acquire competitors customers to grow
Relative quality and costs of similar products drives the threat of substitutes.
High barriers to entry would affect the threat of new entrants.
Which 3 of the following are common features of management as identified by Fayol.
- Contracting
- Commanding
- Communicating
- Coordinating
- Controlling
- Coercing
2 4 5
Fayol suggested 5 - The other 2 are planning and organising
According to tuckman what a 4 stages of group development?
Forming - initial stage, membersare individuals who are unsure of their roles and responsibilities until defined by manager.
Storming - most teams go through this conflict stage. As tasks get underway, members may test managers authority. Resolution and conflict skills of manager are vital at this stage- needs to be flexible,allowing team members a voice and get involved in decision making.
Norming - operating norm established, team settles. Team procedures are refined, manager will begin to pass control and decision making authority to team members. They will be operating as a cohesive team, with each person recognising/appreciating the roles of other members.
Performing -team is capable of operating to full potential. Progress made towards set objectives. Team feels confident and empowered.
Not all teams will follow the stages and may get stuck in the middle remaining ineffective and inefficient.
Organisational change
Incremental transformation =
Incremental realignment =
Big Bang transformation =
Big Bang realignment =
Organisational change
Incremental transformation = evolution
Incremental realignment =adaptation
Big Bang transformation = revolution
Big Bang realignment = reconstruction
Which of the following is not an action performed by a change agent?
- Diagnose solutions
- Implement change
- Monitor change
- Define problem
3
Four actions performed by a change agent are
Define problem
Diagnose solutions
Implement change
Transmit learning process
Think ………………. Act. …………….
Think global, act local
Porter states that any organisational structure competing in a global market has to balance 2 dimensions
Global dimension for world wide coordination to achieve economies of scale
Local dimension that enables country managers to respond to local customer needs
Belbin - which role is defined as “committed to the task, may be aggressive and challenging, will always promote activity”
- Shaper
- Plant
- Team worker
- Finisher
1
Plant is thoughtful and thought provoking
Team worker is concerned with relationships in the group
Finisher is progress chaser who ensure deadlines are met
According to schein, culture exists a three levels:
Artefacts, values and basic assumptions.
Which relates to values
- Things that can be seen heard and observed
- Deeply held beliefs
- Things that can be identified from stories
- The way we do things around here
3 - values are the things that can be identified from stories and opinions of those within the organisation. Includes language used, behaviour and hoe people justify what they do
Things that can be heard seen and observed are artefacts and creations
Deeply held belief are known as basic assumptions
They ways we do things around here is handys overall definition of culture
Which are true?
- Authority is the right to exercise power
- Traditional authority is based on Weber’s classical bureaucracy
- Responsibility is the capacity to exert influence
- When delegating,responsibility can never be delegated
- Responsibility involves the obligation of an individual
1, 4 & 5
Traditional authority is backed on custom and practice - rational legal authority is based on Weber’s classical bureaucracy
Power is the capacity to exert influence
According to Henry Mintzberg realised or actual strategy is a combination of which two of the following
- Intended strategy
- Unrealised strategy
- Emergent strategy
- Incremental strategy
- Deliberate strategy
3, 5
What are the project management institutes 9 process areas?
Time Cost Quality Human Resources Risk
Communications
Procurement
Integration
Scope
Barney(1991) indentified 4 criteria for unique resources. What are they?
Valuable -must be able to exploit opportunities or neutralise threats.
Rare - competitors must not have them too
Imperfectly imitable- competitors must not be able to duplicate
Non substitutability- must not be possible for a rival to find a substitute.
Group cohesiveness can be affected by a number of factors, such as environmental and dynamic factors. Which of the following would be categorised as a environmental factor?
Size of group
Alternatives
Success and failure
Task
Size of group and alternatives are membership factors
Success or failure is seen as a dynamic factor
Environmental factors include nature of the task, the isolation of the group and the climate of management and leadership