Exam 2 Flashcards

Good grade

1
Q

Four P’s of meeting effectiveness

A

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)

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2
Q

Four general types of meetings

A
  1. 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
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3
Q

Virtual meetings

A

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

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4
Q

Facilitation

A

activities that take place before during and after meetings to reach their outcome

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5
Q

Task-related behaviors

A

focus on concept of meeting. Discuss actions necessary to complete a goal. To do so you could ask for information summarize contribute etc

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6
Q

Maintenance-related behaviors

A

related to the process of how the group works together.

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7
Q
  1. Dysfunctional behaviors
A

someone makes a comment or does something that hinders the group or team progress. The facilitator can try and address the issue.

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8
Q
  1. Facilitative preventions*(288)-
A
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?
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9
Q
  1. Facilitative interventions*- (290)
A
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
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10
Q

Helpful Meeting Hints*

A
  • 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 )
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11
Q

Four stages of creative problem solving*

A

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

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12
Q

Convergent thinking

A

your faced with a problem and you’re working towards a solution. Part of creative thought process.

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13
Q

Divergent thinking

A

different approach. Looking at a different perspective to solve the problem.

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14
Q

Problem-solving techniques* (311)

A

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

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15
Q

Round robin

A

structured participation throughout the group

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16
Q

Nominal group technique

A

eliminating all negative aspects that could be created through peoples power. It equalizes everyone in the group.

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17
Q

Idea Killers

A

When creative suggestions or ideas are me with these responses, creativity is killed- not just now but in the future.

18
Q

Decision Making Process* 307-309

A
Identify the core issue
Determine a decision making approach
Generate options
Research options
Evaluate options
Reach a decision
Monitor or implement decision
19
Q

Vision Statement

A
  • clear and concise statement made by the group that discuses groups goals and what they want to be and become
20
Q

Industry Structure

A
each industry has its own unique structure and shape
Competition
New tech
Entry barriers
Exit barriers
21
Q

Critical Success Factors

A

when the company needs to have its capabilities and resources in place so they can make it in the long haul

22
Q

SWOT analysis

A

Strengths Weaknesses Opportunities Threats (internally and externally)

23
Q

Identifying market segments*

A

Whose buying- geography, profiles, lifestyles, personality
Why are they buying- benefits and traits of what they gain
What are they buying- features, pricing, delivery

24
Q

Buyers five-step adoption process* yellow book 112

A
Awareness
Interest
Evaluation
Trial
Adoption
25
Q

Value chain framework

A

a model that helps to analyze specific activities through which firms can create the most value and competitive advantage

26
Q

Core competence

A

when the company capabilities allow them to have a competitive advantage over the market place

27
Q

Sustained competitive advantage-

A

(Holy Grail) a company has the ability to have a competitive advantage constantly

28
Q

Balance sheet

A

describes what the company

owes, what they own, what they’re worth

29
Q

income statement

A

what the company gains or looses at a given period

30
Q

net profit margin

A

underlining amount the company received after the government takes taxes

31
Q

Cost of goods sold

A

the amount it costs for you to put together your product or service

32
Q

How to define market segments*

A

Whose buying What are they buying Why are they buying

33
Q

Customer personality types*

A

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

34
Q

How to determine competitor capabilities*

A
(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
35
Q

Experience curves

A

when you look at cost of goods and sold revenue ratio. You see that it is getting smaller over the years

36
Q

Four Major components of analyzing an industry

A

Relationships- the suppliers, consumer, distributors
Structure- competition, new technology
Marketing- look at market size, growth, substitutes
Finance- profit margin and cost trends

37
Q

Pro forma income statement

A

general income statement that states companies gains and losses. But pro forma looks at future growth of company

38
Q

Return on investment

A

what the company gets back on their assets

39
Q

Four environmental trends*

A

governmental- regulation, tax policies, legal system
Economic- money interest rates, inflation rates, currency values
Cultural- social issues, lifestyles, profiles
Technological- inventions, adoptions

40
Q

Business planning pitfalls* yellow book 59

A
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