Quiz 1 (Mod 1/2)

Question 1

organization

Answer 1

a tool people use to coordinate their actions to obtain something they desire or value

Question 2

Why do people create organizations

Answer 2

a response to and a means of satisfying a human need

Question 3

Entrepreneurship

Answer 3

term to describe the process in which people recognize opportunities to satisfy needs and then gather the resources to meet them

Question 4

3 stages of value creation

Answer 4

input, conversion, output

Question 5

organizational environment

Answer 5

set of forces and conditions that operate beyond and organizations boundaries but affect its ability to acquire and use resources to create value

Question 6

5 reasons organizations exist

Answer 6

1. increase specialization and division of labor
2. use large scale technology
3. manage the external environment
4. economize on transaction costs
5. exert power and control

Question 7

economies of scale

Answer 7

cost savings that result when goods and services are produced in large volume on automated production lines

Question 8

economies of scope

Answer 8

cost savings that result when an organization is able to use underutilized resources more effectively because they can be shared across different products or tasks

Question 9

transaction costs

Answer 9

costs associated with negotiating monitoring and governing exchanges between people

Question 10

organizational theory

Answer 10

the study of how organizations function and how they affect and are affected by the environment in which they operate

Question 11

organizational structure

Answer 11

the formal system of task and authority relationships that control how people coordinate their actions and use resources to achieve organizational goals

Question 12

organizational culture

Answer 12

the set of shared values and norms that control organizational members interactions with each other and with suppliers, customers, and people outside the organization

Question 13

organizational design

Answer 13

the process by which managers select and manage aspects of structure and culture so that an organization can control the activities necessary to achieve its goals

Question 14

organizational change

Answer 14

the process organizations use to redesign their structures and cultures to move from their present state to some desired future state to increase their effectiveness

Question 15

contingency

Answer 15

an event that might occur and must be planned for

Question 16

competitive advantage

Answer 16

the ability of one company to outperform another because its managers are able to create more value from the resources at their disposal

Question 17

core competencies

Answer 17

managers skills and abilities in value creating activites

Question 18

strategy

Answer 18

the specific pattern of decisions and actions that managers take to use core competencies to achieve a competitive advantage and outperform competitors

Question 19

external resource approach

Answer 19

a method managers use to evaluate how effectively an organization manages and controls its external environment

Question 20

internal systems approach

Answer 20

a method that allows managers to evaluate how effectively an organization functions and resources operate

Question 21

technical approach

Answer 21

a method managers use to evaluate how efficiently an organization can convert some fixed amount of organizational resources into finished goods and services

Question 22

official goals

Answer 22

guiding principles that the organization formally states in its annual report and in other public documents

Question 23

mission

Answer 23

goals that explain why the organization exists and what it should be doing

Question 24

operative goals

Answer 24

specific long term and short term goals that guide managers and employees as they perform the work of the organization

Question 25

7 facets of inspired inefficiency

Answer 25

``` take the scenic route get up from the couch monetize your mistakes sometimes try the hard way get security through diversity achieve safety through redundancy and skills be rationally extravagant ```

Question 26

why did fujifilm survive

Answer 26

took its resources and diversified them into new industries by adapting - they were able to create more options than rivals

Question 27

fujifilm 3 principles

Answer 27

prudence diversity adaptation

Question 28

how did toyota recover after the fire

Answer 28

managed network of suppliers in a collaborative manner - modularity, embeddedness and redundancy they were able to use their current suppliers to make up for the loss

Question 29

What is the surprising ingredient that makes businesses work better?

Answer 29

fairness- long term value

Question 30

main idea of marco alvera talk

Answer 30

do as much as you can to promote a healthy culture that puts everyone on an equal plane to prime them to do the absolute best

Question 31

Three broad things that companies can do to promote the changes

Answer 31

step outside themselves | get rid of unclarity, irrational, things that do not agree with culture

Question 32

How can we better intervene in the formative years of our soon-to-be senior leaders?

Answer 32

allow lower level leaders to show upper level leaders they are capable of more responsibility and doing things in new ways

Question 33

What is the “very real paradox” that Elizabeth Lyle describes?

Answer 33

the best learning happens on the job, we need role models and work environments, but both are being disrupted by new behaviors and metrics

Question 34

Where does John start

Answer 34

ask to start flying, ask to start taking control and do things his way to show the old world new and better ways to do things

Question 35

What is the analogy about flying a plane, and what does it mean in the workplace for every meeting and decision?

Answer 35

it means that the new talent and up and comers need to be given a chance to show new ways and gain new experiences

Question 36

What does Jane need to do, to help this process?

Answer 36

give john her support to try a new way and trust that he can lead into a better world

Question 37

differentiation

Answer 37

the process by which an organization allocates people and resources to organizational tasks

Question 38

vertical differentiation

Answer 38

hierarchy of authority and reporting relationships across vertical levels

Question 39

division of labor

Answer 39

degree of specialization in the organization

Question 40

organizational role

Answer 40

the set of task related behaviors required of a person by his or her position in an organization

Question 41

authority

Answer 41

the power to hold people accountable for their actions and to make decisions concerning the use of organizational resources

Question 42

control

Answer 42

the ability to coordinate and motivate people to work in the orgs interests

Question 43

agency

Answer 43

1

Question 44

mechanistic

Answer 44

1

Question 45

organic

Answer 45

1

Question 46

vertical differentiation

Answer 46

1

Question 47

three models to determine if a decision is ethical

Answer 47

justice, utilitarian, and moral rights models

Question 48

agency problem

Answer 48

a problem in determining managerial accountability that arises when delegating authority to managers.