Exam 2 Flashcards
Good grade
Four P’s of meeting effectiveness
Purpose-determines objective
Participants- who, size, what group consists of
Plan- organized time and location. (prepared)
Process- how you go through your meeting. (Recap summarize)
Four general types of meetings
- Information Sharing- several or all members share info they have gathered
2 Information Dissemination- critical information that should be discussed in depth
3 Problem solving/decision making- people come together to make decisions and solve problems
4 Symbolic/socializing- employees celebrate even or managers recognize good performance
Virtual meetings
People from parts of the organization and world can be efficiently and effectively connected- anytime and anywhere
a. Teleconferencing
b. Electronic Messaging or Chatting
c. Video-Confrencing
Facilitation
activities that take place before during and after meetings to reach their outcome
Task-related behaviors
focus on concept of meeting. Discuss actions necessary to complete a goal. To do so you could ask for information summarize contribute etc
Maintenance-related behaviors
related to the process of how the group works together.
- Dysfunctional behaviors
someone makes a comment or does something that hinders the group or team progress. The facilitator can try and address the issue.
- Facilitative preventions*(288)-
Establish ground rules and roles Get agreement on process Get agreement on content and outcome Stay neutral and stay out of the content- makes it harder not have a bias Be positive Suggest a process Educate the group- did you know?
- Facilitative interventions*- (290)
Boomerang Maintan/regain focus play dumb say whats going on check for agreement avoid process battles enforce process agreements encourage accept legitimize deal with or defer dont be defensive use your body language use justifying questions use leading questions use the group memory dont talk too much use hypothetical questions use a reality check use the "round robin" method ask team memeber to "talk to their neighbor" use a time out call a team members bluff
Helpful Meeting Hints*
- write down the cost per minute of the meeting (time is money)
- announce the adjournment time right when it starts
- set rules for debate (ex: only talk for 5 mins)
- have a meeting standing up
- follow pre-established timeables (start&stop ontime)
- have fun (loosen up to think creatively )
Four stages of creative problem solving*
Preparation- fathering information, defining the problem. groundwork
Incubation- going internally and going through the activities internally
Illumination- ah ha moment. Recognize insight and articulate creative solution
Verification- test it out, see if it woks
Convergent thinking
your faced with a problem and you’re working towards a solution. Part of creative thought process.
Divergent thinking
different approach. Looking at a different perspective to solve the problem.
Problem-solving techniques* (311)
Brainstorming- tool used to capture new ideas
-round robin
-post it note
affinitizing- provides a useful means to organize and produce agreement on categories of ideas; doing so facilitates a groups ability to organizational problems
mulitvoting- a list of topics or a paired down list of affinitized categories
Round robin
structured participation throughout the group
Nominal group technique
eliminating all negative aspects that could be created through peoples power. It equalizes everyone in the group.
Idea Killers
When creative suggestions or ideas are me with these responses, creativity is killed- not just now but in the future.
Decision Making Process* 307-309
Identify the core issue Determine a decision making approach Generate options Research options Evaluate options Reach a decision Monitor or implement decision
Vision Statement
- clear and concise statement made by the group that discuses groups goals and what they want to be and become
Industry Structure
each industry has its own unique structure and shape Competition New tech Entry barriers Exit barriers
Critical Success Factors
when the company needs to have its capabilities and resources in place so they can make it in the long haul
SWOT analysis
Strengths Weaknesses Opportunities Threats (internally and externally)
Identifying market segments*
Whose buying- geography, profiles, lifestyles, personality
Why are they buying- benefits and traits of what they gain
What are they buying- features, pricing, delivery
Buyers five-step adoption process* yellow book 112
Awareness Interest Evaluation Trial Adoption
Value chain framework
a model that helps to analyze specific activities through which firms can create the most value and competitive advantage
Core competence
when the company capabilities allow them to have a competitive advantage over the market place
Sustained competitive advantage-
(Holy Grail) a company has the ability to have a competitive advantage constantly
Balance sheet
describes what the company
owes, what they own, what they’re worth
income statement
what the company gains or looses at a given period
net profit margin
underlining amount the company received after the government takes taxes
Cost of goods sold
the amount it costs for you to put together your product or service
How to define market segments*
Whose buying What are they buying Why are they buying
Customer personality types*
Innovators- risk takers, young, well educated, not afraid of technology
Early adapters- evaluate, they’re open with new tech, respect piers
Early majority- avoid risk whenever possible, they are unlike to try a new product until they catch on
How to determine competitor capabilities*
(Spying on the companies capabilities) Knowing management Organizing as a whole Customer base How they research and develop Operations Marketing Sales Distribution and delivery financial condition
Experience curves
when you look at cost of goods and sold revenue ratio. You see that it is getting smaller over the years
Four Major components of analyzing an industry
Relationships- the suppliers, consumer, distributors
Structure- competition, new technology
Marketing- look at market size, growth, substitutes
Finance- profit margin and cost trends
Pro forma income statement
general income statement that states companies gains and losses. But pro forma looks at future growth of company
Return on investment
what the company gets back on their assets
Four environmental trends*
governmental- regulation, tax policies, legal system
Economic- money interest rates, inflation rates, currency values
Cultural- social issues, lifestyles, profiles
Technological- inventions, adoptions
Business planning pitfalls* yellow book 59
Dont set pie in sky goals for yourself Dont sell your organization short Be careful of what you aim for beware of too many words or numbers Dont keep your goal or objectives a secret
