Management test 3

defensive avoidance

"there's no reason for me to explore other solution alternatives"

How Decision makers process information

(1) Availability (2)representativeness (3) confirmation (4) sunk cost (5) anchoring and adjustment (6) overconfidence (7) hindsight (8) framing (9) escalation of commitment.

Disadvantages of Group Decision Making

- a few people dominate or intimidate -satisficing -goal displacement -groupthink

More competitors are offering targeted products, requiring faster speed-to-market

"Companies that take too long to commercialize their products may fail to capitalize on a narrow window of opportunity before competitors swoop in and pass them by," points out a Forbes writer.16 Some of these competitors may be in and out of a market in a matter of days or months—like pop-up stores, "here today, gone tomorrow" retailers, such as those selling Halloween products. Example: Virgin Group Ltd., headed by Sir Richard Branson, is known mainly for its music and airline businesses, but it has entered around 400 new businesses, one after the other—mobile phones, credit cards, hotels, games, trains, and most recently foot races and cruise ships—and very quickly. Virgin Comics, started in 2006, aimed at India's multibillion-dollar comics market, went from idea to public announcement in less than 11 months. In mid-2008, it restructured and changed its name to Liquid Comics.

Diversity

"Diverse groups of people bring to organizations more and different ways of seeing a problem and thus, faster/better ways of solving it... there's certainly a lot of evidence that people's identity groups- ethnic, racial, sexual, age- matter when it comes to diversity in thinking." Diversity has its benefits, but it can also be an important management challenge.

Knowledge, not information, is becoming the new competitive advantage

"Information is rapidly becoming a profitless commodity, and knowledge is becoming the new competitive advantage," says San Diego management consultant Karl Albrecht. That is, as information technology does more of the work formerly done by humans, even in high-tech areas (such as sorting data for relevance), many low-level employees previously thought of as knowledge workers are now being recognized as "data workers," who contribute very little added value to the processing of information. Unlike routine information handling, knowledge work is analytic and involves problem solving and abstract reasoning—exactly the kind of thing required of skillful managers, professionals, salespeople, and financial analysts. The rise of knowledge workers is accelerating despite the threat of automation, and indeed the number of people in knowledge-work jobs—nonroutine cognitive occupations—has more than doubled in the last 30 years, and shows no sign of slowing down. Example: Middle-skill jobs like bookkeeping, clerical work, and repetitive assembly-line work are being rapidly taken over by automation, according to MIT economist David Autor. But higher-paying knowledge-work jobs, which require creativity and problem solving—often aided by computers—have grown rapidly, as have lower-skilled jobs that are resistant to automation.

Social Responsibility: Philanthropy

"Not Dying Rich" Philanthropy: making charitable donations to benefit humankind

relaxed avoidance

"There's No Point in Doing Anything; Nothing Bad's Going to Happen."

trends in the workplace: people with differing physical and mental abilities

-20% of civilian noninstitutionalized Americans have a physical or mental disability -Americans with Disabilities Act (1992) prohibits discrimination against the disabled and requires organizations to reasonably accommodate an individual's disabilities. -Disabled people have difficulty finding work. --Less than half of disabled people ages 21-64 were employed, compared to 79.1% of abled people.

lack of support for family demands

-2015 --34.4 million couples with children under 18 --60.6% families with both parents working -More and more women are moving back and forth between being at home mothers and in the workforce, as economic circumstances dictate. Yet in many households, the women still take care of children as well as do domestic chores. -Organizations aren't supportive in offering flexibility in hours and job responsibilities, these women find it difficult to work evenings or take overnight business trips

The importance of culture

-Culture powerfully shapes an organization's long-term success by enhancing its competitive advantage. -Culture is positively associated with a variety of outcomes. Most relationships were of moderate strength, meaning they are important to today's managers. Closer examination of Figure 8.3 leads to the following six conclusions. --An organization's culture matters. --Employees have more positive work attitudes when working in organizations with clan cultures. --Clan and market cultures are more likely to deliver higher customer satisfaction and market share. --Operational outcomes, quality, and innovation are more strongly related to clan, adhocracy, and market cultures than to hierarchical. --An organization's financial performance (profit and revenue growth) is not strongly related to organizational culture. --Companies with market cultures tend to have more positive organizational outcomes.

stereotypes and prejudices

-Ethnocentrism is the belief that one's native country, culture, language, abilities, or behavior is superior to those of another culture. -When differences are viewed as being weaknesses- which is what many stereotypes and prejudices ultimately come down to- this may be expressed as a concern that diversity hiring will lead to a sacrifice in competence and quality

what do managers need to know about group decision making

-Groups take longer to make decisions. -Their size affects decision quality. --Optimal group size may be 5 or 7 people --Odd group numbers are best -They may be too confident. -Knowledge counts.

a hostile work environment for diverse employees

-Hostile work environments are characterized by sexual, racial, and age harassment and can be in violation of Equal Employment Opportunity law, like Title VII of the Civil Rights Act. Hostile environments are demeaning, unethical, and called "work environment pollution." -U.S. Equal Employment Opportunity Commission revealed that almost half of its 30,000 harassment complaints received in 2015 involved sex.

trends in the workplace: sexual orientation

-LGBT people become more visible -over half of LGBT workers said that they hide who they are at work -higher levels of stress -Gay and bisexual male workers were found to earn 10%-32% less than equally qualified heterosexual counterparts -88% of Fortune 500 companies include sexual orientation in their nondiscrimination policies, and more than 60% offer domestic partner benefits for same-sex couples.

Elements that drive a org.'s culture vary

-May represent the values of the founder -The industry and business environment -The national culture -Organization vision and strategies -Behavior of leaders

trends in workforce diversity: gender

-More Women Working -46.8% of the labor force in 2014 and expected to increase to 47.2% in 2024. -More and more businesses are being owned by women. Between 2007 and 2016, the number of women-owned firms increased by 45% -Pay has improved but as of 2014, women overall still earn only 79 cents to every $1 for a man. -Glass Ceiling

trends in workforce diversity: age

-More older people in the workforce -"In the developed countries the number and proportion of younger people is rapidly shrinking... those shrinking numbers of younger people will have to both drive their economies and help support much larger numbers of older people." -In the U.S., workers 55 and older are expected to make up a ¼ of the labor workforce in 2024. Young workers (16-24) are projected to decline to 11.3% of the labor force in 2024. The inbetweeners (25-54), will account for ⅔ of the labor force in 2024.

trends in the workplace: race and ethnicity

-More people of color in the workforce -POC have hit the glass ceiling, with whites holding more of the managerial and professional jobs -Minorities earn less than whites -minorities experienced more perceived discrimination, racism-related stress, and less psychological support than whites did

What factors are holding women back in the workplace?

-Negative stereotypes, lack of mentors, and limited experience in line or general management

Four Types of Organizational Culture

-clan, adhocracy, market, hierarchy -The competing values framework (CVF) provides a practical way for managers to understand, measure, and change organizational culture. The CVF classifies organizational cultures into four types: Clan, adhocracy, market, and hierarchy.

group problem solving techniques

-consensus -brainstorming

trends in the workplace: educational levels

-mismatches between Education and Workforce -College graduates may be in job for which they are overqualified --Almost half a million college graduates are working minimum wage jobs. --A great many college graduates are underemployed- working at jobs that require less education than they have -High-school dropouts and others may not have the literacy skills needed for many jobs.

when can groups help with decision making

-when it can increase quality -when it can increase acceptance -when it can increase development

some traditional companies may not survive radical change

In The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail, Clayton M. Christensen, a Harvard Business School professor, argues that when successful companies are confronted with a giant technological leap that transforms their markets, all choices are bad ones.

how organizations promote ethics

1. Create a strong ethical climate 2. Screening prospective employees 3. Instituting ethics codes and training programs 4. Rewarding ethical behavior: protecting whistle blowers

Three Effective Reactions: Deciding to Decide

1. Importance—"How High Priority Is This Situation?" 2. Credibility—"How Believable Is the Information about the Situation?" 3. Urgency—"How Quickly Must I Act on the Information about the Situation?"

how do people learn ethics

Kohlberg proposes 3 levels of personal moral development. Level 1, preconventional -- follows rules: people follow rules to avoid the consequences. Level 2, conventional -- follow expectation of others: People adhere to the expectations of others Level 3, postconventional -- guided by internal values

four approaches to deciding ethical dilemmas

1. Utilitarian - guided by the "greater good" 2. Individual Approach - guided by what will result in an individual's best long-term interests. The assumption is that you will act ethically in the short run to avoid people stabbing you in the back in the long run. 3. Moral Rights approach - guided by respect for fundamental rights of humans. For example, we all agree people's right to life, liberty and the pursuit of happiness. 4. Justice approach - guided by respect for impartial standards of fairness and equity. For example an organization's policies would be governed impartially regardless of race, gender, age, etc.

Market culture

A Competitive Culture Valuing Profits over Employee Satisfaction. -Strong external focus and values stability and control. -Driven by competition and a strong desire to deliver results -Because of this, customers, productivity, and profits take precedence over employee development and satisfaction -Employees are expected to work hard, react fast, and deliver quality of work on time; those who deliver results are rewarded -Ex. Uber

adhocracy culture

A Risk-Taking Culture Valuing Flexibility external focus and values flexibility Creation of innovative products by being adaptable, creative, and quick to respond to changes in the marketplace Employees are encouraged to take risks and experiment with new ways of getting things done Well suited for start up companies (especially in industries with frequent change) and and mature industries where innovation is needed to enhance growth Ex. Google

hierarchy culture

A Structured Culture Valuing Stability and Effectiveness. Internal focus and values stability and control over flexibility. Companies with this kind of culture are apt to have a formalized, structured work environment aimed at achieving effectiveness through a variety of control mechanisms that measure efficiency, timeliness, and reliability in the creation and delivery of products. Ex. Amazon relies on the benefits of a hierarchical culture to effectively manage its vast shipping processes. -They focus on getting better instead of focusing on competition.

opposing social responsibility

Against Social Responsibility: would presumably support the efforts of companies to set up headquarters in name only in offshore Caribbean tax havens (while keeping their actual headquarters in the US) in order to minimize their tax burden

Clan culture

An internal focus and values flexibility rather than stability and control. Encourages collaboration among employees striving to encourage cohesion through consensus and job satisfaction and to increase commitment through employee involvement. Devote resources to hiring and developing their employees, and they view customers as partners. Ex. Property and insurance company Acuity.

The Anchoring and Adjustment Bias

Being Influenced by an Initial Figure. Managers will often give their employees a standard percentage raise in salary, basing the decision on whatever the workers made the preceding year. They mayPage 226 do this even though the raise may be completely out of alignment with what other companies are paying for the same skills. This is an instance of the anchoring and adjustment bias, the tendency to make decisions based on an initial figure.`

One Type of Social Responsibility: Climate Change, Sustainability, and Natural Capital

Benefits of being green Going green has entered the business mainstream, sustainability programs are producing not only environmental benefits but also cost savings, revenue growth, and competitive advantages The Value of Earth's Resources: Natural Capital Natural capital is the value of natural resources such as topsoil, air, water, and genetic diversity, which humans depend on We're approaching the planet's limitations with human activity threatening to exceed the earth's capacity to generate resources and absorb wastes

The Overconfidence Bias

Blind to One's Own Blindness. The overconfidence bias is the bias in which people's subjective confidence in their decision making is greater than their objective accuracy. Overconfidence, it's suggested, may be behind the reasons for the BP Deepwater Horizon drilling rig explosion and disaster in 2010 that flooded the Gulf of Mexico with 200 million gallons of oil. Because technology often works flawlessly, BP ignored warning signs such as a dead battery, a leaky cement job, and loose hydraulic fittings.Blind to One's Own Blindness

Radical Candor or Front Stabbing

Drop the polite workplace veneer and speak frankly to each other

Level 3: Basic Assumptions

Core values of the Organization Basic assumptions, which are not observable, represent the core values of an organization's culture -- those that are taken for granted and, as a result, are difficult to change. Ex. At insurance giant AIG, people worked so hard that the joke around the offices was "Thank heavens it's Friday, because that means there are only two more working days until Monday." Ex. Many founders of startups hate rules and red tape. College Hunks Hauling Junk, for instance, was co-founded by Nick Friedman with no formal policies about dress code, vacation, sick days, and other things because he envisioned "a real-life Never Land where work is always fun, and the culture is always stress-free." However when the enterprise grew from a single cargo van to over 50 franchises, the freewheeling spirit made employees lose focus, and client-service ratings, employee morale, and profitability all declined. The firm had to come up with rules and procedures while at the same time trying to "maintain a healthy balance of fun company culture with an accountable organization and team," Friedman said.

A negative diversity climate

Diversity climate is a subcomponent of an organization's overall climate and is defined as the employees' aggregate "perceptions about the organization's diversity-related formal structure characteristics and informal values. Diversity climate is positive when the employees view the org. As being fair which promotes employee loyalty and overall firm performance. It also enhances psychological safety which reflects the extent to which people feel free to express their ideas and beliefs without fear of negative consequences.

How does being good pay off?

Effect on customers According to one survey, 88% of respondents said they were more apt to buy from companies that are socially responsible than from companies that are not Effect on employees' work attitudes and intentions to quit Employees perceive their work environments as more ethical and fair when managers exhibit ethical leadership Ethical leadership is defined as leadership that is directed by respect for ethical beliefs and values for the dignity and rights of others Effect on employees' behavior and work performance The positive benefits of ethical leadership extend beyond employee attitudes Effect on sales growth The announcement of a company's conviction for illegal activity has been shown to diminish sales growth for several years Effect on company efficiency One study found that 71% of employees who saw honesty applied rarely or never in their organization has seen misconduct in the past year, compared with 52% who saw honesty applied only occasionally and 25% who saw it frequently Effect on company revenue Unethical behavior in the form of employee fraud costs the typical organization 5% of its revenue each year. Effect on stock price One survey found that 74% of people polled said their perception of a firm's honesty directly affected their decision about whether to but its stock Effect on profits Studies suggest that profitability is enhanced by a reputation for honesty and corporate citizenship

Negative Organizational culture

Ex. director of real estate and workplace services had to send employees a note asking them to cut out using the headquarters stairwells for smoking, drinking, eating, and sex. "Too Nice"

Level 2: Espoused Values

Explicitly Stated Values and Norms. Espoused Values are the explicitly stated values and norms referred by an organization, as may be put forth by the firm's founder or top managers. Example: The founders of technology company Hewlett- Packard stressed the "HP Way," a collegial, egalitarian culture that gave as much authority and job security to employees as possible. Although managers may hope the values they espouse will directly influence employee behavior, employees don't always "walk the talk," frequently being more influence by enacted values, which represent the values and norms actually exhibited in the organization.

The Representativeness Bias

Faulty Generalizing from a Small Sample or a Single Event As a form of financial planning, playing state lotteries leaves something to be desired. When, for instance, in 2016 the U.S. Powerball jackpot reached $1.6 billion, the largest in world history, the odds of winning it were put at 1 in 292.2 million.153 (A person would have a far greater chance of being struck by lightning, 1 in 700,000.) Nevertheless, millions of people buy lottery tickets because they read or hear about a handful of fellow citizens who have been the fortunate recipients of enormous winnings. This is an example of the representativeness bias, the tendency to generalize from a small sample or a single event.

The Escalation of Commitment Bias

Feeling Overly Invested in a Decision If you really hate to admit you're wrong, you need to be aware of the escalation of commitment bias, whereby decision makers increase their commitment to a project despite negative information about it. Would you invest more money in an old or broken car? The Drug Enforcement Administration and the Pentagon continued to spend on a spy plane for use in Afghanistan that was supposed to be completed in 2012 at a cost of $22 million, even though the project had missed every projected delivery date. In March 2016, it had not yet left the ground, and total payouts had reached $86 million.159

for social responsibility

For Social Responsibility: since businesses create problems (environmental pollution, etc), they should help solve them

advantages of group decision making

Greater pool of knowledge Different perspectives Intellectual stimulation Better understanding of decision rationale Deeper commitment to the decision

The Marketplace Is Becoming More Segmented and Moving toward More Niche Products

In the recent past, managers could think in terms of mass markets—mass communication, mass behavior, and mass values. Now we have "demassification," with customer groups becoming segmented into smaller and more specialized groups responding to more narrowly targeted commercial messages. Example: In the Internet Age, retailers like Amazon and Apple are not constrained by physical shelf space and can offer consumers a much wider variety of products, yet small sales, one or two rather than millions of items at a time, can produce big profits.

proactive change

Managing Anticipated Problems and Opportunities In contrast to reactive change, proactive change, or planned change, involves making carefully thought-out changes in anticipation of possible or expected problems or opportunities.

The Sunk Cost Bias

Money Already Spent Seems to Justify Continuing The sunk-cost bias, or sunk-cost fallacy, is when managers add up all the money already spent on a project and conclude it is too costly to simply abandon it.

The Hindsight Bias

The I-Knew-It-All-Along Effect The hindsight bias is the tendency of people to view events as being more predictable than they really are, as when at the end of watching a game we decide the outcome was obvious and predictable, even though in fact it was not. Sometimes called the "I-knew-it-all-along" effect, this occurs when we look back on a decision and try to reconstruct why we decided to do something.

Level 1: Observable Artifacts

Physical Manifestations of Culture. At the most visible level, organizational culture is expressed in observable artifacts-- physical manifestations such as manner of dress, awards, myths, and stories about the company, rituals, and ceremonies, and decorations, as well as visible behavior exhibited by managers and employees. Ex. In a conference room reserved for sensitive discussions, online travel company Kayak has a 2-foot-high stuffed elephant named Annabelle-- the "elephant in the room" -- that is an artifact believed to bring forth more honest and constructive communications among employees.

reactive change

Responding to Unanticipated Problems and Opportunities When managers talk about "putting out fires," they are talking about reactive change, making changes in response to problems or opportunities as they arise.

The Confirmation Bias

Seeking Information to Support One's Point of View The confirmation bias is when people seek information to support their point of view and discount data that do not. Though this bias would seem obvious, we practice it all the time, listening to the information we want to hear and ignoring the rest. "We typically focus on anything that agrees with the outcome we want," suggests economist Noreena Hertz. "We need to be aware of our natural born optimism... . We need to acknowledge our tendency to incorrectly process challenging news and actively push ourselves to hear the bad as well as the good."

symptoms of groupthink

Sense of Invulnerability Rationalization Illusion of unanimity and peer pressure The wisdom of crowds

The Framing Bias

Shaping How a Problem Is Presented The framing bias is the tendency of decision makers to be influenced by the way a situation or problem is presented to them. For instance, customers have been found to prefer meat that is framed as "85% lean meat" instead of "15% fat," although they are the same thing.157 In general, people view choices more favorably when they are framed in terms of gains rather than losses.158 You would be more likely to invest in a product that had a 60% chance of success rather than a 40% chance of failure. Try framing your decision questions in alternate ways to avoid this bias.

resistance to diversity program priorities

Some companies such as PepsiCo, IBM, and Deloitte & Touch, have taken aggressive diversity approaches, such as offering special classes teaching tolerance for diversity and seminars in how to get along. Some employees may see diversity programs as distracting them from the organization's "real work." In addition, they may be resentful of diversity-promoting policies that are reinforced through special criteria in the organization's performance appraisals and reward systems.

Fear of Discrimination against Majority Group Members

Some employees are afraid that attempts to achieve greater diversity in their organization will result in bias against the majority group- more black or Asian employees will be promoted to fire captain or police lieutenant, for example, over the heads of supposedly more qualified whites.

Organizational Culture

The Shared Assumptions That Affect How Work Gets Done. sometimes called corporate culture, is defined as the set of shared, taken-for-granted implicit assumptions that a group holds and that determines how it perceives, thinks about, and reacts to it various environments. Passed on to new employees by socialization and mentoring An organization has a "personality", it's culture. Culture can vary considerably, with different organizations having differing emphases on risk taking, treatment of employees, teamwork, rules and regulations, conflict and criticism, and rewards.

"A Leader's Job is to help inspire every employee to help execute strategy"

Strategy consists of the large-scale action plans that reflect the organization's vision and are used to set the direction for the organization.

Two Systems of Decision Making

System 1—intuitive and largely unconscious: System 1 operates automatically and quickly; it is our fast, automatic, intuitive, and largely unconscious mode, as when we detect hostility in a voice or detect that one object is more distant than another. System 2—analytical and conscious: System 2 is our slow, deliberate, analytical, and consciously effortful mode of reasoning, which swings into action when we have to fill out a tax form or park a car in a narrow space.

The Availability Bias

Using Only the Information Available. If you had a perfect on-time work attendance record for nine months but then were late for work four days during the last two months because of traffic, shouldn't your boss take into account your entire attendance history when considering you for a raise? Yet managers tend to give more weight to more recent behavior. This is because of the availability bias—managers use information readily available from memory to make judgments.

what does it mean to "Fit"?

What the interviewer is trying to find out is how well you fit in- what is called "person-organization (PO) fit, which reflects the extent to which our personality and values match the climate and culture in an organization. A good fit is important because it is associated with more positive work attitudes and task performance, lowe stress, and fewer expressions of intention to quit. How well an applicant fits with the institution's organizational culture is considered a high priority by many interviewers.

organizational dimensions

include management status, union affiliation, work location, seniority, work content, and division or department.

Organizational structure

Who Reports to Whom and Who Does What. Organizational structure is a formal system of task and reporting relationships that coordinates and motivates an organization's members so that they can work together to achieve the organization's goals. Who reports to whom and who specializes in what work. Challenge for top managers is to align the organization's vision and strategies with its organizational culture and and organizational structure. Consistency across strategy, culture, and structure leads to higher performance.

heroes

a hero is a person whose accomplishments embody the values of the organization.

stories

a narrative based on true events, which is repeated- and sometimes embellished upon - to emphasize a particular value. Stories are oral histories that are told and retold by members about incidents in the organization's

Ethical Dilemma

a situation where you have to decide whether to pursue a course of action that might benefit you or your organization, but is unethical or illegal.

how to combat groupthink

allow criticism and allow other perspectives

symbols

an object, an act, a quality, or an event that conveys meaning to others. In an organization, symbols convey its most important value

Ethics

are the standards of right and wrong that influence behavior.

internal dimensions of diversity

are those human differences that exert a powerful, sustained effect throughout every stage of our lives: gender, age, ethnicity, race, sexual orientation, and physical abilities. Referred to as the primary dimensions of diversity because they are not within our control, for the most part. Yet they strongly influence our attitudes, expectations, and assumptions about other people, which in turn influence our own behavior.

Ethical behavior

behavior that's accepted as right according to ethics.

decision

choice made from among available alternatives

Vertical dimension

flexibility or stability The extent to which an org. Prefers flexibility and discretion versus stability and control.

Strategies to fight gender discrimination in the workplace

getting more women on boards, increasing the diversity of the applicant pool, evaluating work assignments to ensure they are fairly distributed, making everyone's salary public, and helping with work/life management.

China, India, & other offshore suppliers are changing the way we work

globalization and outsourcing are transforming whole industries and changing the way we work. China, India, Mexico, the Philippines, and other countries possess workers and even professionals willing to work twice as hard for half the pay, giving American businesses substantial labor savings. While unquestionably some American jobs are lost, others become more productive, with some engineers and salespeople, for example, being liberated from routine tasks so that they can spend more time innovating and dealing with customers.

insider trading

illegal trading of a company's stock by using confidential company information. This is very illegal and many high profile as well as low profile people went t jail for this.

External dimensions of diversity

include an element of choice; they consist of the personal characteristics that people acquire, discard, or modify throughout their live: educational background, marital status, parental status, religion, income, geographic location, work experience, recreational habits, appearance, and personal habits. Referred to as secondary dimensions because we have a greater ability to influence or control them than we do internal dimensions.

Horizontal dimension

inward or outward focus? The extent to which an org. Focuses its attention and efforts inward on internal dynamic and employees versus outward toward its external environment and its customers and shareholders.

personality

is defined as the stable physical and mental characteristics responsible for a person's identity

Corporate social responsibility

is the notion that corporations are expected to go above and beyond following the law and making a profit Archie B. Carroll suggests the responsiblities of an org in the global economy should take the following priorities with profit being the most fundamental and corporate citizenship at the top: -Be a good global corporate citizen as defined by the host country's expectations -Be ethical in its practices taking host-country and global standard into consideration -Obey the law of host countries as well as international law -Make a profit consistent with expectations for international business

Social responsibility

manager's duty to take actions that will benefit the interests of society as well as of the organization

The Three Levels of Organizational Culture

observable artifacts, espoused values, basic assumptions

values

permanent and deeply held beliefs and attitudes that help determine a person's behavior.

diversity wheel

personality, internal dimensions, external dimensions, organizational dimensions

4 ineffective reactions

relaxed avoidance, relaxed change, defensive avoidance, panic

barriers to diversity

stereotypes and prejudices, fear of discrimination against majority group members, resistance to diversity program priorities, a negative diversity climate, lack of support for family demands, a hostile work environment for diverse employees

Culture is transmitted to employees in several ways, most often through such means as:

symbols, stories, heroes, rites and rituals, and organizational socialization

rites and rituals

the activities and ceremonies, planned and unplanned, that celebrate important occasions and accomplishments in the organization's life. Ex. Military units and sports teams have long known the value of ceremonies handling out decorations and awards

value system

the pattern of values within an organization.

organizational socialization

the process by which people learn the values, norms, and required behaviors that permit them to participate as members of an organization. Converting from outsider into organizational insider may take weeks or even years and occurs in three phases: Before one is hired, when one is first taken on, and when one has been employed a while and is adjusting to the job.

decison making

the process of identifying and choosing alternate courses of action

Panic

this is so stressful, i've got to do something- anything- to get rid of the problem

ponzi scheme

using cash from newer investors to pay off older ones

sarbox

was a piece of legislation that established requirements for proper financial record keeping for public companies and penalties of as much as 25 years in prison. It requires a company's CEO and CFO to personally certify the financial reports, prohibits them from taking personal loans. It also requires companies to have established procedures and guidelines for audit committees.

relaxed change

why not just take the easiest way out