Exam Prep Flashcards
EXPLAIN THE THREE MAIN CHARACTERISTICS OF AN ORGANIZATION.
- Goal Oriented: common task as a result of a common goal, not heterogenous individual but homogenious organization (Content,formal, social, eco goals)
- Formally structured: Division of labour, coordination of activities towards the goal, Controlling behaviour and measuring perfomance
- Open Social System: People are open to interact with the system/environment
DESCRIBE THE CORPORATE LIFE CYCLE. WHY DO SO MANY COMPANIES FAIL?
Lifecycle: Launch + Growth (Startup phase), Shake out (cash,profit and sales at high point -> cash cow apple example), maturity, decline.
Company Fail:
General reason -> competition, competence, capital
Schumpeter: Creative Destruction -> demand and new markets revolutionize the economy from within over and over. Destroying the old, creating the new.
NAME THE TWO CENTRAL PATTERNS OF DIGITIZATION?
Demonetization: reduce value of market segment
Long diestance calls -> Zoom
Record Distribution -> itunes,spotify
Hotel chains -> airbnb
Dematerialization: physical becomes digital (camera -> phone), do not own a car -> use uber
DISTINGUISH ORGANISATIONAL BEHAVIOR AND ORGANISATIONAL STRUCTURE/DESIGN.
Organisational Behaviours: Area dedicated to understanding, explaining and improving the attitudes and behaviors of individuals and groups in organizations
-> job performance / job commitment
Organisational structure/design: area that includes the creation and change of structures and processes to ensure that the organizations’ goals are efficiently achieved: How are tasked split for example -> KPIs
-> survival / productivity / profitmaximization
NAME THE THREE FORMS OF JOB PERFORMANCE.
TASK PERFORMANCE: ROUTINE & ADAPTIVE TASK PERFORMANCE, time spent on the task etc. (measure by evaluation interview etc) -> Employee behaviors that are directly involved in transformation of resources into goods and services
CITIZENSHIP BEHAVIOUR: Support, Fairness, Sportsmanship -> Voluntary employee behaviors that may or may not be rewarded but that contribute to the organization (baking a cake for everyones birthday, playing tennis in your freetime with client)
COUNTERPRODUCTIVITY: Productive misbehaviour, political misconduct, personal aggression -> Employee behaviors that intentionally hinder organizational goal accomplishment.
NAME THE THREE FORMS OF ORGANIZATIONAL COMMITMENT.
AFFECTIVE COMMITMENT: when you feel a strong emotional attachment to your organization, and to the work that you do
CONTINUANCE COMMITMENT: when you weigh up the pros and cons of leaving your organization. You may feel that you need to stay at your company, because the loss you’d experience by leaving it is greater than the benefit you think you might gain in a new role.
NORMATIVE COMMITMENT: when you feel a sense of obligation to your organization, even if you’re unhappy in your role, (military)
WHAT DOES THE RIGOUR–RELEVANCE GAP REFER TO?
Gap between scientific rigor and practical relevance:
Management research does not meet the expectations of managers for results that can be used directly in practice to a sufficient extent, and instead concentrates on theoretical discourse in the scientific community.
There are scientists how say that this problem isn’t bridgeable, I believe it is just communication problem
Example: Business Students
Example: Ottobock
NAME THE FIVE DIEMSIONSOF AN ORGANIZATION
SPECIALIZATION: Division of labor= the degree to which organizational tasks are divided into separate jobs, horizontal (flat structure) vs vertical specialization (top down management)
CONFIGURATION: Department formation = one or more execution positions under one executive position -> organigram; What is ideal span of control
COORDINATION: Chain of command -> Hierarchy of a company
DELEGATION: Transfer of authority from a manager to a subordinate, Give task to individual or team?
FORMALIZATION: Use of written rules in form of
organizational charts,
organization manuals/guidelines,
job descriptions etc.
HOW CAN YOU SOLVE THE PROBLEM OF SPECIALIZATION?
Specialization = Division of labour
Job rotation: Orienting new employees Training employee Enhancing career development Preventing job boredom or burnout
Job enlargement:
Increasing work flexibility
No/little training required
Job enrichment:
Increasing work flexibility
Additional training required
EXPLAIN THE SPAN OF CONTROLAND ITS INFLUENCING FACTORS.
Span of control (chain of management) = number of execution positions under one executive position
Depth of control =number of hierarchical levels below the top management
Control intensity =relation between executive and execution positions
Driving factors: Task complexity Leadership style Degree of delegation Geographical distance Forms of communication
NAME THE THREE BASIC FORMSOF ORGANIZATIONAL CHARTS.
- Functional Structure: Under this structure, employees are grouped into the same departments based on similarity in their skill sets, tasks, and accountabilities
- Divisional Structure: This structure organizes business activities into specific market, product, service, or customer groups (e.g. Aldi -> Milk products and meat products)
- Matrix Structure: Matrix Structure is a combination of functional and divisional structures. This structure allows decentralized decision making, greater autonomy, more inter-departmental interactions,
may be more fruitful and cooperative can also create confusing loyalties or conflicts of interest.
EXPLAIN THE FOUR DIMENSIONS OF THE MYERS-BRIGGS TYPE INDICATOR
(i) extraversion–introversion: describes how a person gets energized
(ii) sensing–intuiting: describes how a person takes in information
(iii) thinking–feeling: describes the means a person uses to make decisions
(iv) judging–perceiving: describes the speed with which a person makes decisions
EXPLAIN THE FIVE DIMENSIONS OF THE BIG FIVE PERSONALITY TRAITS
OPENNESS (inventive/curious vs. consistent/cautious) -> practical vs theoretical
CONSCIENTIOUSNESS (planned living vs. extravagant/spontaneous)
EXTRAVERSION (outgoing/energetic vs. solitary/reserved) -> intro vs extro
AGREEABLENESS (friendly/compassionate vs. critical/rational) -> cooperative vs non cooperative
NEUROTICISM (sensitive/nervous vs. resilient/confident)
BRIEFLY EXPLAIN THE VALUE-PERCEPT THEORY
Correlation with overall job satisfaction:
pay (moderate correlation)
promotion (moderate correlation)
supervision (strong correlation)
coworker (strong correlation)
work (strong correlation)
(VWANT -VHAVE) x (VIMPORTANCE)
EXPLAIN THE FOUR TYPES OF WITHDRAWL BEHAVIOR
EXIT: leaving the organization, transferring to another work unit, or at least trying to get away from the unsatisfactory situation.
VOICE: any attempt to change, rather than escape from, the dissatisfying situation
LOYALITY: passively waiting for conditions to improve
NEGLECT: reducing work efforts, paying less attention to quality, and increasing absenteeism and lateness
WHAT IS STRESS? WHAT TYPES OF STRESS DO YOU KNOW?
A psychological response to demands where there is something at stake and where coping with the demands taxes or exceeds a person’s capacity or resources.
Uni, work, personal life, sport
WHAT IS TRUST? WHAT TYPES OF TRUST DO YOU KNOW?
The willingness to make oneself vulnerable to an authority (based on a positive expectation regarding the actions and intentions of that authority)
Forms: dispositive trust, cognitive trust (motivated by rational good behaviour), affective trust (trust in partner based on the feelings)
Family, friends…
BRIEFLY EXPLAIN THE EXPECTANCY THEORY.
individual will behave or act in a certain way because they are motivated to select a specific behavior over others due to what they expect the result of that selected behavior will be.
In essence, the motivation of the behavior selection is determined by the desirability of the outcome.
Example:
- People recycle paper because they believe it’s important to conserve resources and take a stand on environmental issues (valence),
- they believe that the more effort they put into recycling the more paper people, in general, will recycle (expectancy)
- and they believe that the more paper recycled the fewer resources will be used (instrumentality).
WHEN IS MONEY A GOOD MOTIVATOR/DEMOTIVATOR?
- MONEY REPRESENTS ONE’S ACHIEVEMENT.
- MONEY GIVES YOU AUTONOMY AND FREEDOM
- MONEY CAN GIVE YOU THE OPPORTUNITY TO BE WHAT YOU WANT TO BE.
Working Student Example
Maslow -> Money comes almost last, physiological needs etc more important
BRIEFLY EXPLAIN THE JOB CHARACTERISTICS MODEL.
Essentially, the theory states that task design has a major impact on an employee’s motivation, performance and satisfaction.
The key features that impact the pyschological state -> and therefore the quality of work are:
Variety of task, Identity ( is there a clear endgoal), Significance, Autonomy, Feedback
HOW CAN TRUST BE BUILT UP IN ORGNAIZATIONS?NAME AND EXPLAIN AT LEAST SIX MEANS.
- Openness to proposals and dissenting opinions
- Honesty regarding own intentions
- Invite colleagues to make decisions as well
- Generosity in passing on knowledge and contacts
- Making promises -and keeping them
- Fair and transparent performance appraisal
EXPLAIN THE VARIOUS ASPECTS OF THE GROUP COMPOSITION
- Team roles:
team task roles:
Initiator-contributor -> proposes new ideas
Coordinator -> tries to coordinate activities among team members
Orienter -> determines the direction of the team’s discussion
there also Also team building and individual roles
-> teambuilding exercises can help showcase
- Member ability/personality:
ognitive and physical abilities needed, depends on taks: disjunctive tasks, conjunctive tasks, additive tasks - Team diversity: difference between people leads to variety in ideas (surface and deep level diversity)
- Team size: bezos pizza rule
EXPLAIN THE FIVE STAGES OF TUCKMAN`S TEAM DEVELOPMENT
forming: involves a period of orientation and getting acquainted. Uncertainty is high during this stage, and people are looking for leadership and authority
storming: most difficult and critical stage to pass through. It is a period marked by conflict and competition as individual personalities emerge. Team performance may actually decrease in this stage
norming: conflict is resolved and some degree of unity emerges. In the norming stage, consensus develops around who the leader or leaders are, and individual member’s roles.
performing: consensus and cooperation have been well-established and the team is mature, organized, and well-functioning
adjourning: most of the team’s goals have been accomplished. The emphasis is on wrapping up final tasks and documenting the effort and results
EXPLAIN THE MBV, RBV, AND DCA FRAMEWORK.
Theoretical Dimension of Demarcation: Demarc company based on market and firm in dynamic and static point of view
Mbv - market based view (static market) ->
Competitive advantage as the result of branding and positioning efforts of competing firms in a static market
Rbv - resource based view (static firm) ->
Competitive advantage based on valuable, rare, imperfectly imitable and imperfectly substitutable resources.
-> oil companies have an advantage based on location, no oil companies in Germany
Dca - dynamic capability approach (dynamic firm) ->
Competitive advantages based on the ability to change the competencies in a dynamic environment.
-> expert teams with great education in startups and large corps
EXPLAIN CHRISTENSEN‘S CONCEPT OF DISRUPTIVE INNOVATION.
a smaller company, usually with fewer resources, is able to challenge an established business (incumbent)
Disruptive innovation = product or service with:
- They are low-cost and highly accessible.
- Incumbent only serves its most profitable business and ignores bottom market segments
- They serve a smaller low-end target market at first, before expanding to a vast market due to their accessibility.
- They’re hard to see coming and aren’t taken seriously
- once the entrant offers products to mainstream consumers of the incumbent, disruption has begun.
Example: Online reference services like Wikipedia have disrupted traditional encyclopedias such as the Encyclopedia Britannica. But it took over a decade to put them out of business, quite the feat considering these encyclopedias were widely considered the gold standard for centuries.
EXPLAIN THE DIFFERENT TYPES OF INNOVATIONS.
Scope: What is being innovated? 1. Product 2. Service 3. Business Model 4. Process or tech
trigger:
What triggered innovation?
pull innovations go from the market and are initiated by a concrete customer request.
push innovations are created by new technologies for which suitable application possibilities are sought and realized.
degree of novelty:
How new is the innovation?
goes from imitation to basic innovation (high degree of novelty).
degree of change:
1. Incremental innovations show a low degree of innovation. These are small changes to existing products
2. Radical innovations, on the other hand, represent something fundamentally new, which cause considerable changes in the product, process or business model but doesnt affect the market as much
3. Sustaining
not very new but high impact on market
4. disruptive
new and high impact on market
EXPLAIN THE MAGIC TRIANGLE OF INOVATIONS GOALS AND SUCCESS.
Triangle of bringing actual value and quality to customers (new idea), being efficient to bring cost to the best balance and therefore find the best price, having the service or product available and ready for customers
Uber -> Actual value, better price and app
