Management Exam 4
e. Globalization
The process of growing interdependence among elements of the world's economy is?
b. Core Culture
Walking a corporation is quite revealing - youll see a lot of interesting aspects of culture. youll also get to review what they say about themseleves (think zappos and nike). What aspect of culture is this?
b. team structure and rewards
We began learning the ABC's of teamwork by looking at inputs. Choose the element below that IS a key input to excellent teamwork?
d. Integration and Responsiveness
We learned C.K. Prahlads model on ways to structure a global business. He indentified two key elements to contrast as you decide a global method. What are those 2 elements?
b. Performing
We learned about the lifecycle of teams. When Prof J's bean bag business team hits performance easily with high quality what stage?
c. Multinational
When I consider a company high on local responsiveness and low on global integration - what form of business am I referring to?
b. Build Teamwork
"Managers Must," do something that is, but what is the "must(s)" they must do. In chapter #9 we listed 3 musts - which below is NOT one of those musts?
KPMG Study
- Mergers and Acquisitions (M&A) - Analysis of 700 deals over 2 years - 83% failed to produce any benefit - 50% destroyed shareholder value - Only 17% added value - Bankers, lawyers, consultants, government officials - Value vs. size
On Boarding
- A program of activities that introduces a new hire to the policies, practices, expectations, and culture of the organization - Orientation and socialization - Getting someone started - Need to connect and engage - Google has structured approach and variability - More productive, and more positives because of on boarding
Observed and Core Culture
- Above and below the waterline - observed culture (above) and core culture (below) - Core culture: values or beliefs about right ways to behave - driver of the business and treating others - Observable culture: stories, heroes, symbols, rites and rituals - what you see in people's behaviors and hear in their conversations - Culture is what you can see and hear
Sustainability Innovation
- Advance sustainability by creating ways to reduce the carbon footprint of an organization or its products - Combining business with environmental aspects - Ex: Toyota and Subaru - Road video - zero waste - Can waste be a business? - Ex: Tom Szaky (CEO TerraCycle - Video) - casual culture at TerraCycle - made talk at PSU Forum
Strategic HRM
- Aligns human capital with organizational strategy - Go together - Society for human resource management (SHRM) - trade association for human resource managers - SHRM conference - 300,000 people are members - practical applied ways of understanding talent
Training
- American Society for Training & Development (ATD) - Stats (picture) - Training in the US - Top 10 training subjects: managerial, compliance, business practices, industry specific, orientation/on board, information technology, customer service, executive development - Experiences lead to right developmental experiences - Leadership development - Start developing new hires
Child Labor
- Another global business risk - Full-time employment of children by adults
Team Building
- Any group activity, objective/goal driven and focused on team process - Ex: Ropes and games - Games, adventure, social, simulation, work projects, alternative - Bringing people together
Monochronic Culture
- Do one thing at a time, do not like uninvited guests - US
Team Selection
- 3 C's of a great team member: character, competence, consistency - Character: sticks to work, can count on them, and honest - Competence: skills, knowledge, etc. - Consistency: leadership, loyal, and same person - Ex: NFL combine (2020) - motivation, in for process, learning style, psychology, big 5 - player assessment test (PAT video) - Choosing to hire applicants with the greatest performance potential - Reliability and validity
Shared Power Strategy
- A change strategy - Collaborative process of identifying values, assumptions, and goals where support of change will emerge - Slow yet high commitment success
Rational Persuasion Strategy
- A change strategy - Persuasion backed by personal knowledge, information, facts, and rational argument - Response is compliance with reasonable commitment - Success depends on how good your information and facts are, as well as your credbility
Normative Re Educative Strategy
- A change strategy - Relies on empowerment and participation - Engages others as a team, involvement, and time consuming - Has major benefits in the long run - Slower, yet better outcomes
Fore Coercion
- A change strategy - Uses authority, offers rewards, and threats of punishments to induce change - Usual response is temporary compliance, most useful as an unfreezing strategy - Comes in two forms: direct forcing strategy (takes direct action to command that change take place - formal authority to legitimize power, offering rewards, or threats) AND political maneuvering (works indirectly to gain advantage over others to force change - bargaining, obtaining important resources, alliances, granting favors, etc.) - Faster, yet worse outcomes
Franchising
- A form of business by which the owner (franchisor) of a product, service, or method, obtains distribution of affiliated dealers (franchisees) - Remember ees and ors - Way to grow chain, profit, and stores, franchising plans to build stores while others pay for each store - Ex: Yum! brands (pizza hut, KFC, taco bell) - International franchise expo 2018 - quick way to grow business and be your own boss - Advantages: capital expansion (#1 benefit - start with idea and get money), continuing revenue stream, global brand building, economies of scale, managerial talent development, fast - Disadvantages: quality control, understanding local culture, legal/regulation, potential loss of control, supply chain complexity - Can you take it global? - Home country
Licensing
- Big business not well understood - Know or's and ee's of licensing and global business - A form of business by which the owner (licensor) gives the rights to a buyer (licensee) for specific uses of intangible or tangible property (a license) - Renting or leasing an intangible or tangible asset - Ex: star wars 2017 disney and lucas films video - disney=licensor and movie watchers=licensee - Licensing expo 2018 - licensing arrangement and can virtually license anything to make more profit - Advantages: low to no cost, royalty stream, extend profit potential, expand the brand, attracts new customers - get % of profit from merchandise, etc. - Disadvantages: potential loss of control, damage the brand, getting paid, lower margins - Total license magazine - Home country
Collective Bargaining
- Brings management and union representatives together and they exchange demands, proposals, etc. - Can be short or long, positive or negative outcomes
Social Innovation
- Business innovation driven by a social conscience - Spear headed by social entrepeneurs who pursue creative ways to solve pressing social problems
Heroes
- Can be many people - Cultural benefits: shared knowledge of hero stories, and establish or represent core values - Ex: Hershey school - Milton Hershey (founder) - Sam Walton (Walmart), Ken Frazier (Merck), and Walk Disney (Disney Co.) - Leaders and heroes in their organizations - Develop culture - Sheryl Sandberg (Facebook), Marilyn Hewson (Lockheed), and Ann Marie Campbell (EVP Home Depot) - Heroes - Employees, customers, and leaders can be heroes
Improvisational Change
- Change is an ongoing process and adjustments are continually made as it is being implemented
Approaches to Change
- Change leadership - Change drivers: confident of ability, willing to take risks, seize opportunities, expect surprise, make things happen (20% of people) - leaders are drivers of change - Status quo holders: threatened by change, bothered by uncertainty, prefer predictability, support status quo, wait for things to happen (80% of people) - can be helped tp get over, but some may refuse - Ex: A change allegory by Spencer Johnson - Who moved my cheese video - cheese = business, jobs, routine, etc. - change does not mean changing core values but current situation instead - need to be willing to change - Change happens, anticipate change, monitor change, adapt quickly, change, enjoy change, be ready
Team/Teamwork
- Collection of people who regularly interact to pursue common goals - Not a lot of companies use team structure but almost ever company uses teams and teamworks
Types of Teams
- Committee - formed for a long term and ongoing purpose - always going to have this team of people - Cross-functional team - Project team/task force - always will have this in a business - solve specific problem that has an end date (due date) - short term - Self-managing teams - Virtual teams
Decentralized Communication Network
- Communicate directly, creativity, information processing, problem solving - Creates interacting team that works together and shares information - Usually high satisfaction - Used for complex tasks and when need for sharing information is high - Lack of communication will create problems
Low-Context Culture
- Communication through written or spoken word - Ex: US, Canada, Germany
Foreign Subsidiaries
- Company "A" known as the "parent" fully or partially owns a local enterprise - Green field operation or subsidiary - Ex: Budweiser clydesdale - Foreign direct investment wholly owned subsidiary- ABinBev (belgium owned), Smithfield (china), Firestone (Japan), Ben+Jerrys (england and dutch) - Advantages: profit, market expansion, control (full control), protects technology - Disadvantages: cultural issues, legal risk, political risk - China draws investors (graph) - Host country
Employee Value Propositions (EVP)
- Create and sustain good person - job and person- culture fits - Packages of opportunities and rewards like pay, benefits, etc.
Business Model Innovation
- Create, deliver, and capture value - Take something that is happening now and flip the mode - How business models have changed: Media - decline of print Retail - online shopping Education - online classes Music - physical to digital owning to streaming services - Getting revenue with a different approach - Ex: Pepsi-co Aquafina water station - vending business model - Ex: Instagram - excellent example of a business model innovation for instagram and facebook (video) - change in photography, digital instead of physical pictures - Kevin Systrom (CEO) - instagram was a threat to facebook so they bought them - Need to use social media with your business model - Ex: Uber - Travis Kalanick (ex CEO) and Adam Mosser (CEO 2019) - flip business of car travel and taxi's
Global Culture
- Culture integration is key - Different nations have different aspects that add to culture
Corporations and Culture
- Culture shapes attitudes, reinforces beliefs, directs behavior, and sets expectations - If we do not do this it will evolve who is doing this - Core values and enforcing them - Demonstrating culture and shaping attitudes - Culture is driven by customers - Ex: Disney Corp. Culture - Disney culture of care and Disney traditions (video)
Masculinity-Femininity
- Degree a society values assertiveness and materialism vs. feelings, relationships, and quality of life - High (Japan) - hard for women to get jobs
Power Distance
- Degree society accepts or rejects unequal distribution of power - High (Japan)
Individualism-Collectivism
- Degree society emphasizes individual accomplishments and self interest vs. collective and group accomplishments and interest - High (US)
Time Orientation
- Degree society emphasizes short or long term goals - Quick vs patience - US vs. Asian cultures
Uncertainty Avoidance
- Degree society tolerates risk, change, and situational uncertainty - High (France)
Team Training
- Developing team member skills - Ex: facilitation, productivity, and tools
Cross Function Teams
- Different types of products sold and working together with each other - Ex: Keurig coffee makers - K-cup and Kraft Maxwell house (video)
Change
- Driving innovation results in the need for change - Change management - Change is personal and organizational - Impact of change on people: fear of the unknown, loss of control, lack of purpose, work overload, etc. - "To make the form, nature, content, future course, etc. of (something) different from what it is or from what would be if left alone" - Applies to a lot of places - Fundamental change drivers - opportunity or threat - social media (insta and FB), automakers, detroit, NCAA - change processes
Exporting
- Easiest to understand - Making something and selling it to other countries - Selling local (home) country products outside of home country - Ex: gulfstream - G650 plane - sell all over the world but made in the US - Advantages: increase sales/profits, stabilize business, gain market share, business expansion - Disadvantages: logistic and services issues, cultural knowledge, government tariffs and regulation, increased costs - Can be profitable if you get it right - Home country
Human Capital
- Economic value of employee skills and knowledge - Capital = asset
Kubler-Ross Model
- Elizabeth Kubler-Ross (1969) - Dealing grief (change?) now - Death/dying change - Process of change - Change management helps people move on - Data analytics - X axis: time, Y axis: motivation/performance - 1. denial 2. anger 3. bargain 4. depression 5. acceptance 6. move on - Ex: Moneyball trailer (video) - change process - Billy Beane Oakland GM
Sweatshops
- Employees work at low wages for long hours in poor and unsafe working conditions - MNC's could end up having these
Bona Fide Occupational Qualifications
- Employment criteria that an organization can justify based on capacity to perform a job
International Strategy
- Focus on importing and exporting - materials and supply, transform and export - Strategic direction from home country - Low to moderate investment outside home country - Sales and services locally and internationally - different sales operations (strategic) - Ex: Xerox - services and equipment - lease machines - business model - ship internationally - ducati video - Low pressure for local responsiveness and low pressure for global integration
Job and Organization Fit
- Foundational to HR attracting candidates - Very important - Do they meet job criteria - Are they a cultural fit - Looking for job fit and cultural fit - Person-job fit is the extent an individual's knowledge, skills, experiences, and personal characteristics are consistent with job requirements - Person-culture fit is the extent to which an invididual's values, interests, and behaviors are consistent with the culture of the organization
Attracting
- Function #1 of HRM - Need to get talent together (all businesses) - 1. Assess need and define job - 2. Recruiting strategy and implementation - 3. Candidate selection and offer process - How these play out - Relationship between quality of talent and business performance (chart) - Assess talent need and define job requirements - Ex: J&J hiring - gold program - attracting talent with programs
Developing
- Function #2 - How to develop talent and grow - 1. Orientation/socialization - onboarding - 2. Training and experiences - 3. Coaching/mentoring - 4. Performance management - appraisal
Keeping
- Function #3 - Maintaining talent/retention of talent - Human capital is valuable at this point - Keeping talent 3 steps: 1. compensation and benefits in line with market - equity theory inputs and outputs - based on industry (fundamental). 2. Clear career path identified. 3. Work-life balance focus - Salary assessments compared to other companies - Can lose talent if other companies are paying more - Worklife balance - Ex: SAS and employee retention - good at this - they take away points of friction for employees and they receive benefits - Look at employees as an asset instead of a cost
Conflict Resolution
- Functional (subject oriented, on topic, and okay) and dysfunctional (making conflict personal) - Team leaders discourage: aggression, blocking, competing, withdrawal, seeking attention, and horsing around - Conflict resolution modes: accommodating (high cooperation, low assertiveness), collaborating (high cooperation, high assertiveness), compromise (in the middle of both), avoiding (low cooperation, low assertiveness), competing (low cooperation, high assertiveness) - Collaborating and compromise are the best ways to resolve conflict
Global Strategies
- Global strategic forms a business may take - Global, transnational, international, multinational - People tend to use these terms equally to refer to any global company - Outside home country - Integration responsiveness grid - x axis (pressure for local responsiveness) and y axis (pressure for global integration) - low to high - Global strategic alliances - foreign and domestic partners cooperate for mutual gains
Global Sourcing
- Going global, the first way to global business - Importing is the first step. The sourcing of materials or services from around the world for local use - Sourcing for certain things, price, higher quality, etc. - Ex: Boeing 787 dreamliner - video - Everett, Washington - Advantages of global sourcing (importing): lower cost, global learning, access to skills and resources, increase supply, expand capacity - Disadvantages of global sourcing (importing): hidden costs (tariffs, fees, etc.), supplier quality, risk (financial/political), lost intellectual property, transportation costs - What is the market - Somethings are not as well known - Home country
Zappos Case
- Has strong culture - Sacrificing short term for long term - Sometimes have technical skill but don't fit in - Culture is what we see and what the organization says - Culture comes with economics - Culture is a mindset in downtown Vegas
Symbols
- Help people get what that organization is - Cultural benefits: common understanding of culture and easy to recognize (you and others) - Ex: Thurl Ravenscott (voice of Tony the Tiger) - commercial, we are penn state, and penn state football traditions video - Company logos
Virtual Teaming
- Help you to connect and communicate - Global connectivity - Rarely meet in person - Global meetings and zoom (video) - experiment to mass and global meetings - Ex: cisco telepresence - Benefits: global sourcing human capital, increase business flexibility, decrease costs of meeting, increase engagement people, 24/7 productivity - Virtual is local, regional, national, and global
Recruiting
- How companies recruit - All external hires - 28% - Internal hires and employee referral - 72% - Employees and talent that you already have ^ - Networking - Recruiter nation report - Social recruiting - linked in and other social media - Job board recruiting - glassdoor - provides sources, jobs, etc - attracts candidates - First internally recruit, then externally
IBM and Hostess
- IBM was a burning platform - Lou Gerstner (CEO 1993-2002) - started decline economically - lou changed IBM and saved them, updated it - IBM into 1 team and changed culture - A burning platform is when you stay it is certain death, but jumping (changing) you may survive - IBM went through transformational change - Strategy, cost, and culture are 3 changes you should make - Hostess died in 2012 - could not deal with change and would never deal with their unions - could not transform- in July 2013 they made a comeback - 2016 they went private then public - they flipped their business model - Transformational change is needed but sometimes painful
Insourcing/Outsourcing
- In - where a foreign company invests in a bsuiness and hires local workers to staff it - Out - shifts jobs to foreign locations where businesses save costs by taking advantage of lower wage skilled workers
Selection Methods
- In depth interviewing and screening - telephone, short interview - Technical and personality testing - basic cognitive ability and personality characteristics - Real time or simulated actual work - in real life, right away - Background checks - check truth - Assessment centers - bring in for a day and do different types of work/interviews - All for organization and job fit - Work sampling - Job audition
Types of Change
- Incremental - day to day - process improvements- minor everyday changes (tweaks) (Kaizen) - improves business and happens organically - participatory - Transformational - opportunity or threat - targets big issues that affects the organization as a whole
Global Strategy
- Interested and present in many countries globally - Coordinated brand image - Single corporate office strategy direction - Build stores, meet pressure of global and local (language, products, etc.) - Ex: McDonalds - global promo video - Low pressure for local responsiveness and high pressure for global integration
Globalization
- Is personal and corporate (connected) - Foundational - Trying to sell globally and building global game - The increased mobility of goods, services, labor, technology, and capital throughout the world - OR the process of growing independence among elements of the global economy (2 definitions) - Impacts everyone
Kaizen
- Kai = change - Zen = good - Kaizen = continual improvement - Employees looking for ways to innovate and improve
Change Process
- Kurt Lewin and change model - understanding change - 1. Unfreeze - create a need for change - understanding the need to change and agreeing - 2. Change - implement and manage the process of change - helping people through the process - 3. Refreezing - stabilize the change and scan for the future - people are always going to be susceptible to go back - Big Issues of change: timing and communication (of change) - are they ready for change (unfrozen enough), keeping people informed about the change and why
Globalization Gap
- Large MNC's gain disproportionately with globalizations and smaller firms do not - Things can go wrong and right in MNC-host country - Good for large, bad for small - Can have mutual gain, MNC gets resources, HC gets jobs, etc. - May be restrictions and government rules in HC and MNC may be unfair, protectionism, etc. - Both can receive criticisms
Societal Culture/Sub Culture
- Larger and sub cultures, cultures within cultures - Academic (type and level) - Functional (ex: marketing) - Geographic, club, ethnic, political, religious, fitness, style, urban/rural - And many more components
Process Innovation
- Lean principles = reduction of waste - Six sigma = process improvement - Reduction in cost - Increased turn around (cycle time) - Increase in outputs - Better customer satisfaction - 1,001 ways to improve the process - Kaizen - Ex: vending machines and credit/debit cards - changed/improves from just cash to credit/debit - helpful process and change - healthy vending creates improvements (videos)
5 Dysfunctions
- Lencioni 1. Absence of trust 2. Fear of conflict 3. Lack of commitment 4. Accountability unwillingness 5. Inattention to results
Innovation
- Life blood of business - Taking a new idea and putting it into practice. The process of translating an idea or invention into a good or service that creates value for which customers will pay - How we can get stronger, better, and innovate - Ex: 3-D printing - benefits and side effects video - started from nothing and innovated - Three forms of organizational innovation: process, product, and business model - Thrive on new ideas - Ex: Shark Tank (video) - ideas and innovation and entrepeneurs
Foreign Corrupt Practices Act (FCPA)
- Makes it illegal for US firms to engage in corruption overseas - Cant pay bribes, gifts, etc. - Some disagree with it and say it is not clear
Managerial Roles
- Managers play different roles in teams - 4 ways to interact with a team - team leader, network facilitator, team member, and coach - Team leader (supervisor) - directs and is a large circle above a line of small circles, all go through team leader - Network facilitator - in the middle of the circle of employees, all connected - Team member - in the circle with employees, equal - Coach - coaching the employees outside of the circle, not connected
Career Development
- Managing how a person progresses in a career from one stage to the next
Career Planning
- Matching individual career goals, capabilities to opportunity - Succession planning - new people to take on roles - succeeding to the next level
Inputs (Team Building Blocks)
- Members: abilities, values, personalities, and diversity - In teamwork, #1 critical process is selection and recruiting the right people - Ex: what personal aspects would make you a great team member? - C characteristics are good - Nature of task: clarity and complexity - what is the goal and make it clear - ex: chespeake bridge/tunnel - Organizational setting: resources, technology, structure, rewards, and information (space) - a foundation of effectiveness, influences team outputs and supports teams - Team size: # of members, even/odd # - smaller teams are easier and better to work with (2 pizzas - 4-6 people) - Amazon example
Pay
- Merit pay - pay depending on performance - Bonus pay - one time or lump sum payments based on the accomplishments - Profit sharing - distributes net profits earned by organization - Gain sharing - extends the profit-sharing concept by allowing employees to share any gains - Stock options - right to buy shares of stock at future date for fixed price 192-193
Ecological Fallacy
- Mistaken assumption that a generalized culture applies always and equally to that culture - 5 dimensions only look at national cultures - starting point
Polychronic Culture
- More flexible about time and who uses it - Work on many things at once and deal with interruptions
Penn State Culture
- Observed: campus, dress, internationals, sports/fitness, leaders, classes, technology, dating, orgs - Core: academics, grades, code of conduct, integrity, we are, focus, quality, rules - Values of Penn State
Informal Groups/Teams
- Offer opportunities for social satisfaction and contacts for getting work done - Types of informal groups: - Interest groups - pursue common cause - Friendship groups - personal reasons, shared hobbies, etc. - Support groups - help one another (work and personal)
Rites and Rituals
- On boarding and connections - Initial things - Cultural benefits: creates connections between people and organizations, builds morale and engagement, and shared hands on experiences - Ex: Nike (campus tour video) - Phil Knight (founder 1964), Mark Parker (chairman), and John Donahoe (CEO) - Nike Rites - know history, way around, etc. - Nike Rituals - know the field and be involved in it (sports) - Engage
EAP
- On ever exam - Excellent performance, academic integrity, professional behavior
Joint Venture
- Operating in a foreign country through co-ownership with local partners - Partner can be powerful - Ex: GM and SAIC - 50/50 partnership in china to expand business - positive for them - Ex: Xerox and UAE - joint venture around services or products - Advantages: access to new markets, leverage local talent, understand culture, shared risks, may be only option, potential cost advantages - Disadvantages: loss of technology, sharing profits, imbalance in contributions, conflict- cultural misunderstanding, political risk - Partners are important - Host country
Supporting Innovation
- Organizational Protocols - Strategy - includes innovation - Culture - values innovation (awards) - Structure - supports innovation - Management - supports innovation - Staffing - for creativity innovation (dual track of staffing) - Grows Innovation - Innovation does not happen by accident - Ex: 3M Corporation - 30% revenue of new products and web site
Formal Teams
- Organizations are teams of interlocking networks - Designed for specific organizational purpose - Labels such as departments, work units, teams, or divisions - all headed by someone
Labor Unions
- Organizations that deal with employees on the workers behalf - Act as a voice used when poor relationships with employers and wage concerns
Organizational Culture
- Organizations that people engage in - Ex: IBM and the masters - Ginni Rometty (CEO IBM) - all male golf club, so there was a different culture, but she was in it for the business relationship - is it okay to have a culture that separates men and women? - Cultural fit is important, it has a high impact on people leaving their job - Culture is important for fitting in - System of shared beliefs and values that develops in an organization and guides the behavior of its members
Two-Tier Wage System
- Pay new hires less than senior workers who are doing the same job - Conflict can be costly and long - Unions can strike, boycott, and picket, while management can lockout, strikebreak, and injunction
Resisting Change
- People resist change when they are depending something they think is more important - It causes problems to resist change - Fear of the unknown, disrupted habits, loss of confidence, loss of control, poor timing, work overload, loss of face (humiliation), and lack of purpose - Change leaders can use: education and communication (about change before it happens), participation and involvement (allow contributions), facilitation and support structure (provides encouragement, training, communication, etc.), negotiation and agreement (differs incentives/trade-offs), manipulation and cooptation (influence resisters by providing info selectively, etc.), and explicit and implicit coercion (threatens and forces resisters to accept change - negative consequences) - first 4 positive, second 2 negative
Stories
- Personal, can connect to, etc. - Commitment and giving back - Cultural Benefits: easily remembered and passed on, instills deeper cultural understanding - Ex: Harland Sanders (KFC) and Dave Thomas (Wendy's) - story of how they started up their business - where performance and culture intersect - Culture impacts performance
Mentoring
- Process of assigning an early career employee to a senior manager for career guidance - Buddy - Can be formal or informal - New or early career employee becomes a protege of a respected senior one - Reverse mentoring is just the opposite
Global Business
- Products that work everywhere - Exponential growth in world population - Developing and selling products and services to all 7.6 billion people currently on the planet - Figuring out how to provide all of the 9 billion people in 2043 - Learning how to scenario plan (pandemic) - Interdependence
Career Path
- Providing structure, flexibility, and direction for a person to achieve greater work responsibility - Need these to retain talent - Ex: P&G and 3M - promote from within and give chances to move up - dual career paths, go different ways in your capabilities
Tax Inversion
- Receives major scrutiny, when US based MNC buys in low-tax country and uses it to avoid paying US taxes in foreign countries
Commercialization
- Selling innovation - How do you sell your innovation? - Ex: Super Soaker decision making steps - Lonnie Johnson - had no commercialization at first, then used marketing to help it sell - Ex: Post it notes (video) - creative commercial to sell product - Sales plan
Reshoring
- Shifts foreign production and jobs back to domestic locations
Intercultural Competencies
- Skills and personal characteristics that help us to function in cross-cultural situations - One of the 3 must haves for success - global knowledge, intercultural competency, and management skills - Helps us act with confidence - Perception MGMT: curious about cultural differences - Relationship MGMT: interested in others and sensitive - Self MGMT: personal identity and understand, and self confidence
Loose Culture
- Social norms are mixed and less clear cut - Deviations are tolerable to a point, can show unique identities and express themselves - Ex: US, Brazil, Canada
Workplace Spirituality
- Sometimes discussed with value based management - Practices that try to enrich peoples lives by bringing meaning to their work and helping engage each other with a sense of shared community - Emphasizes meaningful purpose, trust and respect, honesty and openness, personal growth, etc.
Proxemics
- Space is an important silent language for culture - How people use and value space - Ex: Japan - precious, respected, planned, and tidy - Ex: United States - big and value personal space
Skunkworks
- Special work units set free from the formal organizational structure and given separate locations, special resources, their own managers - The purpose is to achieve innovation
Transnational Strategy
- Substantial investment globally - Operates worldwide and identifies with one home country, total global operations, makes decisions from global standpoint, etc. - Decision making, r+d, and marketing distributed locally - Competitors compete globally - Similar to multinational but with integration - Development 24/7 play the game in a big way - Ex: Nestle - Phillipines video - High pressure for local responsiveness and high pressure for global integration
Multinational Strategy (MNC)
- Substantial investment in other countries - Has international operations and international sources - Focus on adapting products for local needs - Strategy more home/host - Do not have to be globally integrated - Country directed - Ex: Toyota - big in automated industry - technology and olympics - start your impossible (video) - dealership networks everywhere depending on nation - local partner and content rules - heavy demand in these areas and drives economic and workforce development - High pressure for local responsiveness and low pressure for global integration
Contingency Workers
- Supplement full-time work force by working as needed, part time, etc. - Permatemp economy or on-demand economy - These workers are easy to hire and fire and control - not as many benefits for the workers
Culture
- System of shared beliefs/values guiding behavior (internal) - Set of signals of what is appropriate vs. inappropriate (external) - "The way we do things around here" - Culture is personal, organizational, corporate, and global - Culture is what we see and what the organization says - Culture comes with economics
Social Loafing
- THe presence of one or more free riders who slack off and allow other team members to do most of the work
Product Innovation
- Taking existing product and adding a twist - Ex: tile tracking, slam door and nesting doors, I-pad - Ex: DJI drones, phantom, mavic 2, predador, and reaper- benefits include technology and uses, but side effects are location, danger, etc. - Frank Wang (CEO) - commercializing drones and improving product (video) - Ex: UPS - first commercial drone operation (video) - powerful type of innovation, how to use things in. a powerful way - Amazon attempting to use drones - Transformation - New product, updating products
Centralized Communication Network
- Tasks are more routine and less demanding and can coordinate simply - Wheel/chain structure - Has central point that they communicate through - Work is done separately and collected by point member and put together for final product - Coating team
Benefits/Problems of Teams
- Team building - making changes and noticing what is around us - Benefits: more resources to put on problems, improved creativity and innovation, improved quality of decision making, greater commitment on tasks, increased motivation, better control and discipline - Common team problems: cultural miscommunication, personality conflicts, power struggles, participation (slackers or drivers), lack of focus, group think, poor follow through, definition of quality, maturity, free riders, and workload imbalance - Both problems and benefits on teams
Outputs (Team Building Blocks)
- Team effectiveness: task performance, member satisfaction, and team viability + feedback to the inputs - Inputs to throughputs to outputs to feedback and repeat
Throughputs (Team Building Blocks)
- Team process - norms (performance norm - level of work), cohesion, roles, communication, decisions, and conflict (substantive and emotional) - Life cycle of teams: Bruce Tuckman, dating example - forming (going on dates - uninformed optimism), storming (people have both strengths and weaknesses - arguments - informed pessimism), norming (liking the person/team, chemistry - informed optimism, starting to achieve success), and preforming (things are working, great team, superior performance that is coming easily - in every team)
Restricted Communication Network
- Teams break into subgroups on purpose or because of conflict - Counteracting team fails to communicate will cause problems but can also be used to create results and competition - Have to be sure to use all 3 at the right times
Groupthink
- Tendency for people in highly cohesive groups to lose their ability to think critically - Avoid disagreement and make bad decisions because of it - Illusions of invulnerability, rationalizing unpleasant and disconfirming data, belief in inherent group mortality, stereotyping competitors as weak, evil, and stupid - Applying direct pressure to deviants to conform group wishes, self-censorship by members, illusions of unanimity, mind guarding - Always a way out - leaders can give space, second chances, disagreement, etc.
Cultural Intelligence (CQ)
- The ability to adapt and adjust to new cultures - High CQ = high cultural awareness and flexibility - Willing to learn and adapt - Good indicator for capacity of success
Human Resource Management (HRM)
- The building and maintaining of a quality workforce - What happens in a corporations vs. personality - Talent - Hiring creativity (video) - When you look at people in the workplace what do you see?: 1. a cost to reduce 2. an asset to develop (part of human capital, capital = asset) - cost vs. asset - Three functions: attract (talent and candidates), develop (talent), maintain (talent and retention) - Talent is valuable human capital - A big HRM issue is age
Tight Culture
- The strength of norms that govern social behavior and the tolerance that exists for any deviations from the norms - Social norms are strong and clear and they guide behavior - Self-govern and conform, deviations are discouraged- do not stand out - Ex: Korea, Japan, Malyasia
Hofstede's Cultural Dimensions
- There are tensions and need for cultural awareness - Can result in conflict or missed opportunity - Geert Hofstede - explored value differences among national cultures - 5 cultural dimensions of power distance, uncertainty avoidance, individualism-collectivism, masculinity-femininity, and time orientation - Countries score differently on the scale
Affirmative Action
- To show that there are members of historically underrepresented people in the workplace - protected groups - Set goals with affirmative action plans
Performance Appraisal
- Two fold purpose: 1. measures and documents work performance. 2. used a developmental took to enhance work performance - Feedback: balanced and specific - Stronger performance - Feedback and appraisal used as developmental took - Raises are not strong methods - Experiences and training to get stronger - Formally assess and give feedback on work accomplishments - Graphic rating scale - checklist/scoreboard for rating an employee - Behaviorally anchored rating scale (BARS) - describes actual behaviors that illustrate performance achievement - critical incident technique (of job behavior) and 360 degrees feedback - many people give feedback and multiperson comparisons
Labor Contracts
- Unions create these that affect employment relationships - Specify rights and obligations of employees with respect to wages, hours, rules, etc.
How Global Business is Done
- Ways to enter a market - From home country (where HQ is) - global sourcing, exporting, licensing, franchising - From host country - joint ventures and foreign subsidiaries - Applies to different business methods
Personal Culture
- What I see and sat about our organization - Have individual cultures and they are different - Subcultures that very different people may share
High-Context Culture
- What said or written only conveys part or little of the message - The rest must be interpreted from signals and situations - Context counts and social gatherings are important for business deals
Value Based Management
- When managers practice core values, model them for others, and communication and reinforce them in all they do. - Fairness and honestly is more important than money - the right thing to do - Strong foundations, recognize value, respectfullness
Synergy
- When the whole is greater than the sum of individual parts
Reasons to go Global
- Why would a company want to go global? - money (trade and business) - Big 6 of going global: - New markets - customers/profit - Sourcing - suppliers of goods/services - Financing - capital to expand options - Labor - low cost and skilled - Risk - business, natural, country - continuing production - Technology - communication, data
Independent Contractor
- Work on demand and pick up jobs right away - Ex: Uber
Coaching
- Working with a manager to develop personal and business competencies - Can be formal or informal - An experienced person provides ongoing advice to the new hire
Culture Shock
- Working with someone from another culture - Confusion and discomfort when dealing with an unfamiliar culture - Need people to be able to work with different cultures - Stages: confusion, small victories, honey moon, irritation and anger, reality
b. Product
3M by accident comes up with the Post-It-Note but sold it. What type of innovation do we call this?
b. Making team progress a focus
Below which element is considered a key element of team building?
c. Incremental and transformational
Change happens. But as a business professionals we must manage change. We considered two types of change - what were those?
c. Keeps things predictable
Change is a great thing for a company but which below is NOT a leadership change driver?
c. Read about the companies stated values d. Talk to theme park employees
If we visit Disney how would we learn about core culture?
b. Global
Imagine that you decide to go global and you assess that your need for integration is high but your need for responsiveness is low. What type of business are you?
d. Elimination of conflict
In the list below which is NOT a benefit of teams?
a. Cross-functional Attention
In the list below which is NOT a component of team synergy as discussed in class?
c. To increase earnings
In the list below which is likely the major reason you would take your business global?
a. Communication
Individuals must come to a team Prepared. Which below is NOT one Of the team C's we heard in class?
Corruption
MNC's resort to illegal practices like bribes to further business in foreign countries
Managers
Must: 1. Develop culture 2. Encourage innovation 3. Manage change - Corporate culture
e. Code of Conduct
Observational culture is where We begin to understand a company. Which below is NOT part of that?
Socialization
Process through which new members learn the culture and values of the team or organization, as well as the behaviors and attitudes that are shared among its members.
c. Where an owner obtains business through affiliated dealers
Prof J. has decided to open up a Franchise. He has found that for only $1 million dollars he can get a Dunkin Donut & Baskin Robbins deal (donuts and ice cream - heaven). Which definition below fits this business setup?
b. International
Prof J. makes bean bags that all countries like equally and ships from a home country, so low on integration and responsiveness. What do we call this?
a. Team membership
Team effectiveness is everything below EXCEPT (according to the formula from class)?
d. Cultural Intelligence
The ability to adapt and adjust to a new culture is called?
a. They are called the franchisor
When McDonalds sets up as a company that places units globally with other peoples capital which below is MOST true?
b. Facilitator
When a manager spends their time Coordinating the activities of a Work group we call them what?
d. Norming
When individuals on a team come together and experience success this is what team lifecycle stage?
b. Synergy
When the whole is greater than the sum of the parts we call that?
d. Serves in place of other benefits
Which below is NOT a benefit of ritual in the workplace?
e. Accommodating
You're assertiveness is low as you like everyone on the team so you agree to a less preferred decision. Your conflict mode is?
d. Culture
You've just started your new job at Apple. Someone looks at you and says this is the way we do things. What are they referring to?
