E2 flash cards
5 things that must align to create value at an appropriate cost
- Partners
- Resources
- Processes
- Activities
- Outputs
Capture residual value value through which 3 models?
- sharing surplus
- cost model (efficiency, activity level, resources consumed, price paid for resources)
-Revenue model (price charged, collection policy)
Role of CEO
Create vision & mission
Strategic planner
Promote innovation
drive excellence
Role of board
Inspirational leadership
Influence externally
Collaboration
Building talent
Business judgement
Execution
Digital Operating models (5)
- Customer Centric - customer lives easier
- Extra frugal - high quality, low cost
- Data-powered - analytics, agile
- Skynet - machines, engineer-led
- open & liquid - outward focus, sharing culture
5 Strategies to build disruptive business models
- Build - core business, can hire the talent
- Buy - not core business, can’t hire talent
- Partner - no strategic need to own, learn from digital natives
- Invest - start ups connect with established company, doesn’t hinder entrepreneurial
- Incubate/accelerate - internal resources deployed to help start ups
Orchestration vs complexity grid
Tight orchestration & high complexity - Lions pride
Tight orchestration & low complexity - Wolf pack
Loose orchestration & high complexity - Hornets nest
Loose orchestration & low complexity - shark tank
Participants in business ecosystems
Role, reach, capability
Interactions in business ecosystems
Roles, Connections, Course
Emerging tech is creating an environment that is…
connected & open
Simple & intelligent
Fast & scalable
Porters 5 forces are
competitive rivalry
threat of new entrants
threat from substitutes
power of buyers
power of suppliers
Power definition & 5 sources of
def: capacity to exert influence to make someone act according to your preferences
5 sources: Reward, Coercive, Referent, Expert, Legitimate
Authority definition & 3 bases of
def: right to exercise power/exert influence (can be delegated)
3 bases: charismatic, traditional, rational/legal
Responsibility definition
Obligation to perform certain duties/tasks/decisions
Accountability definition
Justify failure to fulfill responsibilities
Empowerment definition
can to do task with out constant direction
5 function of management
forecasting & planning
organising
coordinating
commanding
controlling
Concept of scientific management
one best approach to the job
money = motivator
well trained = high productivity
Concept of Bureautic management
fomalisaition & standardisation
hierarchy & rules
Human relations: maslows hierarchy of needs 5 levels
- self actualisation
- ego
- social
- safety/security
- basic
Herzbergs hygiene/motivating factors
Hygiene - policies, job security, pay, working conditions
Motivators - achievement, advancement, growth, responsibility, recognition
5 types of leader
- charismatic
- traditional
- situational
- appointed
- functional
transactional vs transformational leaders
transactional - a trade with followers
transformational - inspiring & motivating, changes culture
Leadership styles (3)
Democratic - work together, productive/satisfying
laissez faire - you sort it, fairly productive
authoritarian - do this now, not productive, frustration
Theory X & Y
Theory X - people dislike work
Theory Y - enjoy work, self motivated
Managerial grid (people vs task):
1.1
1.9
5.5
9.1
9.9
1.1 - impoverished
1.9 - country club
5.5 - middle road
9.1 - task oriented
9.9 - team style
Most effective of psychologically distant or close determined by 3 factors:
- leader/member relations
- task structure
- leader position power
Adair’s action centered leadership: task needs
info seeking
diagnosing
opinion seeking
evaluating
decision making
Adair’s action centered leadership: group needs
communicating
team building
disciplining
encouraging
peace keeping
standard seeking
Adair’s action centered leadership: individual needs
Goal setting
feedback
counselling
developing
motivating
Belbin’s Team Roles (9):
Coordinator
shaper
plant
monitor-evaluator
team worker
resource investigator
implementer
completer-finisher
specialist
Coordinator - good chair person, delegates well
shaper - promotes activity, thrives with pressure
plant - creative, thoughtful, problem solver
monitor-evaluator - strategic, judge all options
team worker - averts friction, cooperative
resource investigator - outgoing, develops contacts
implementer - practical & efficient, ideas to action
completer-finisher - conscientious, delivers on time, finds errors
specialist - knowledgeable, dedicated
Disciplinary process (5 steps)
- informal talk
- oral talk
- written warning
- lay off/suspend
- demotion/transfer
To avoid a tribunal if employee not happy with grievance outcome
Arbitration - independent arbitrator gives legally binding decision
Mediation - impartial 3rd party facilitates discussion
Conciliation - settle before tribunal
3 types of psychological contract
coercive - employees feel forced, rewards inadequate
calculative - employee voluntary, in return for rewards
Cooperative - contribute more than expected. achieve company goals
Diversity vs equality
who about?
who responsible?
action needed?
diversity
- for all employees
- mangers responsible
- no proactive action
Equality
- for disadvantaged groups
- HR responsible
- proactive action needed
3 levels of culture
artefacts & creations - seen, heard, observed
espoused values - indentified from stories
basic assumptions - deeply embedded beliefs
Intrinsic vs extrinsic rewards
intrinsic - satisfaction of doing job, interest in job
Extrinsic - pay, working conditions, benefits
4 risks/disadvantages of team working
Conformity - pressure to agree with wrong decision
Abilene Paradox - outcome no one wanted
Risky shift - more risk decisions made
Group think - minimise conflict, not critical of ideas
Tuckman’s model of team development 5 stages
Forming - unsure of roles
Storming - challenge authority
Norming - norms for operating established
Performing - operating at full capacity
Adjourning - make changes to avoid losing efficiency
5 aspects of successful teams
- small
- limited duration for specific task
- voluntary membership
- communication informal
- action - oriented
6 principles of influence
- reciprocity
- commitment
- social proof
- liking
- authority
- scarcity
4 ways to manage conflict
stimulation/orchestration - encourage conflict for new ideas
suppression - use of authority / avoidance
reduction - build on areas of agreement
resolution - eliminate root cause
conflict mode instrument (assertiveness vs cooperativeness)
not assertive or cooperative = avoiding
assertive but not cooperative = competing
middle of each = compromising
assertive & cooperative = collaborating
cooperative but not assertive = accomodating
process of negotiation
- prepare
- open
- bargain
- close
6 focuses of PRINCE2
- start up proj
- initiation
- manage stage boundaries
- controlling a stage
- managing project delivery
- project closure
Risk management - TARA
low impact & low likelihood = accept
low impact & high likelihood = reduce
high impact & low likelihood = transfer
High impact & high likelihood = avoid
PERT formula for expected time
(optimistic time + (4 x probable time) + pessimistic time)/6
When is the matrix structure most useful? (5 points)
org consists of series of projs
different start & end dates
complex
expensive
customer facing
Project triangle
time, cost, quality
5 process areas
- initiating
- planning
- executing
- controlling
- closing
project initiation doc (PID) includes:
purpose statement, scope, deliverables, cost & time estimates, objectives, stakeholders, chain of command
to create a digital culture, leaders should focus on 4 factors:
- communication
- continuous change management
- journey management
- make changes visible
Project management body of knowledge (9 focuses)
- time
- integration
- HR
- scope
- cost
- communication
- risk
- procurement
- quality
