Managing Tomorrow

Question 1

indicators of quality of life and well-being

Answer 1

• Economic (economic security)
• Physical (health)
• Social (interpersonal relationships)
• Emotional (feelings of an individual)
• Environmental (environmental quality)
• Political (freedom, sense of power)
• Spiritual (faith, peace, joy in living)

Question 2

substantive theory vs. modernism vs. postmodernism

Answer 2

• Substantive theory: Fundamental to western civilization; necessary; inconspicuous or invisible
• Modernism: Limited to progress, improvement (we’re probably in this stage)
• Postmodernism: The contradictions or paradoxes of technology (ex. Technology is/does both X and not X at the same time, Technology creates feelings of intelligence and efficacy (X) and stupidity and ineptitude (not-X) at the same time)

Question 3

8 paradoxes of technology

Answer 3

• Control/chaos: Can help control things, but can also cause chaos (ex. Y2K)
• Freedom/enslavement: Gives us freedom (ie. Work from home), but can also make us feel trapped (ie. Phone addictions)
• New/obsolete: New technology goes obsolete quickly
• Competence/incompetence: We can feel competent or incompetent with technology
• Efficiency/inefficiency: More efficient to edit essays etc. using technology, but also creates high standards which are inefficient
• Fulfils/creates needs: Fulfils our needs, yet also creates new ones
• Assimilation/isolation: Trying to conform to what others are doing (ie. Posting pics on Instagram), yet you still feel alone
• Engaging/disengaging

Question 4

avoidance and confrontation: pre-aquisition strategies

Answer 4

• Avoidance: Ignore, Refuse, Delay

- Confrontative: Pre-test, Buying heuristics, Extended decision making, Extended warranty/maintenance contract

Question 5

avoidance and confrontation: consumption strategies

Answer 5

• Avoidance – ie. Buying a phone but not really using it

- Confrontative – ie. Buying a phone and using it

Question 6

what to do before adopting innovations

Answer 6

• Become aware of what’s available
• Search for information
• Evaluate information
• Try out products

Question 7

diffusion of innovation

Answer 7

• Bell curve

- Early innovators (2.5%) -> early adopters (13.5%) -> early majority (34%) -> late majority (34%) -> laggards (16%)

Question 8

innovations

Answer 8

• Use product, often not to the fullest
• Paradigm shift: radically innovative solutions
• Counterbalancing concern for environment

Question 9

when were innovations in most homes?

Answer 9

• Microwaves: 90’s
• Automatic clotheswasher: 2001
• Clothesdryer: 2002
• VCR: 00’s
• Home computer: 00’s (big jump in 1 decade)
• Internet: 00’s (big jump in 1 decade)
• Cable: 90’s (declined ever since)
• Cell phones: 00’s (big jump in 1 decade)

Question 10

reducing innovation overload

Answer 10

• Adopt innovations at a pace that you can handle and that feels comfortable
• Reduce risk by knowing more about the product
• Will the product or service make my life better?

Question 11

tech/innovation trends in 21st century

Answer 11

• Increasing urbanization, globalization, and transparency
• Fluctuating economies
• Strain on natural resources
• More personalized electronics, social networks, smart sensors, new ways of banking, etc.

Question 12

managerial judgment

Answer 12

the ability to make decisions and accept change for the betterment of self and humankind

Question 13

ultimate goal of a manager today

Answer 13

creation of a better tomorrow

Question 14

leaders

Answer 14

experts, authorities, facilitators, and guides

Question 15

satisficer vs. maximizer

Answer 15

• Satisficer: makes a decision and sticks to it
• Maximizer: wants to be certain they’ve made the right choice; less likely to fully commit to a decision and therefore may be less happy

Question 16

superconductivity

Answer 16

the conduction of electricity with almost no power loss

Question 17

technology

Answer 17

the application of the scientific method and materials to achieve objectives; knowledge systematically applied to useful purposes

Question 18

discovery vs. invention vs. innovation vs. diffusion

Answer 18

• Discovery: initial observation of a new phenomenon
• Invention: initial verification that a problem can be solved
• Innovation: social and managerial processes through which solutions are first translated into social use in a given culture
• Diffusion: spreads approved innovations more broadly within an enterprise or society

Question 19

system understanding vs. intellect

Answer 19

• System understanding: “know-how”; involved understanding the relationship among key variables
• Intellect: knowing or understanding, the capacity to create knowledge, and the capability for rational or highly developed intelligence

Question 20

paradigm shift

Answer 20

tackling a problem using radically innovating solutions rather than taking a gradual, step-by-step approach

Question 21

5S Management Concept

Answer 21

• Sort: order items and activities
• Straighten: arrange
• Shine: after task is done, clean and restore areas
• Standardize: consistent methods save time
• Sustain: maintain, reduce waste, evaluate

Question 22

law of least effort

Answer 22

if there are several ways to achieving the same goal, people will eventually gravitate towards the least demanding course of action

Question 23

innovation overload

Answer 23

feeling overwhelmed by rapid advances in technology, products, and services

Question 24

conservation of resources theory

Answer 24

during tech times (economic or otherwise) people become more resourceful

Question 25

acceleration effect

Answer 25

quickening life’s pace so that each unit of saved time is more valuable than the last unit

Question 26

quality of life/well-being

Answer 26

level of satisfaction with one’s relationships and surroundings

Question 27

multiculturalism

Answer 27

• the expression by cultural and ethnic groups of their heritage; culture that encourages a combination of several distinct cultures
• Canada has official multiculturalism policies

Question 28

lifestylist

Answer 28

someone who helps create a particular lifestyle (ie. An interior designer that designs a home to appeal to a bachelor vs. A married couple with kids)