Mngt 352 Flashcards
Parkinson’s law
Work expands to fill the time available.
Theory X
The average human has an inherent dislike of work, and will avoid it if they can. They have relatively little ambition, and want security above all. As a result, most people must be coerced, controlled, directed and threatened to put forth adequate effort towards the achievement of organisational objectives.
Theory Y
The expenditure of physical and mental effort in work is as natural as play or rest. The average human does not inherently dislike work. Depending upon controllable conditions, work may be a source of satisfaction or a source of punishment.
Three traits of an adaptor
- Excel in finding ways to complete everyday tasks and overcome predictable challenges, improving on the methods that’ve been used in the past.
- Agents of stability and progress, often found in managerial or defined leadership roles.
- Favour precision and methodical approaches to problem solving.
Three traits of an innovator
- Creative in high pressure, uncertain or unexpected situations.
- Agents of change and reactiveness, often found in visionary leadership roles.
- Prefer to break the rules and are generally inefficient in their problem solving methods, but show great originality.
Why should organisations value both adaptors and innovators?
Both are usually required to solve complex problems.
How could theory X and Y assumptions be redefined?
Theory X could be seen as adaptive, and theory Y assumptions could be seen as innovative.
Why might an adaptive manager be more appropriate for a team of innovators?
Because the adapter would be able to keep the team on track.
What may innovative managers be better suited to?
An industry undergoing rapid change in technology or procedures.
Four Vs definition
Four dimensions that fundamentally determine the nature of any business’s operations and allows us to categorise, compare and understand their nature, structure, challenges and approaches.
What are the four Vs?
Volume, variety, variation in demand and visibility.
Volume definition
The quantity of products or services produced by an organisation.
Three traits of low volume production
- Rarely have specialised or expensive equipment.
- Each staff member performs more than one job.
- High unit costs.
Four traits of high volume production
- High product and process repeatability.
- Capital intensive
- High degree of specialisation
- Low unit costs
Variety definition
The number of different types of products or services produced, and how different they are from each other.
Three traits of high variety production
- Complex processing routines and supply chain.
- More flexible to match customer needs.
- Higher unit cost (usually low volume).
Three traits of low variety production
- Well defined supply chain
- Standardised processing routines
- Lower unit costs.
Variation in demand definition
The level of change and predictability in demand that a business’s operations experience.
Three traits of high variation
- Flexibility to change capacity
- Good at anticipating demand changes
- Higher unit costs
Two traits of low variation
- Stable and predictable
- Lower unit costs
Visibility definition
The visibility of the business and its processes to the customer, and of the customer to the business.
Four traits of high visibility
- Short waiting tolerance
- Satisfaction determined by customer perception.
- Good contact skills needed.
- Higher unit costs.
Three traits of low visibility
- Time lag
- Low contact skills
- Lower unit costs
Product mix
The complete set of products and/or services offered by a firm.