MGMT Final
36) How can you de-bias yourself?
a) Acquire expertise, reduce bias in judgement, engage in analogical reasoning, take an outsider's view, implement statistical models, understand other's biases
b) What is availability heuristic? What are primacy & recency effects?
a) Assess the frequency/ probability of an event based on the readily available in memory b) Primacy effect: remember first items presented c) Recency effect: remember last items presented
46) What is stereotyping? Why do we all do it? How do we prevent ourselves from over-reliance on stereotyping?
a) Assuming that all people within a culture behave, believe, and act the same b) Leads to quick info on how to perceive c) Focus on deep level characteristics. Use contingency perspective: understand situational factors
30) What affects the decision-making process, in reality?
a) Biases, social sitches, emotions
42) What are the challenges for managers in the globalizing business world?
a) CSR, culture, systems b) Geo distributed teams c) Customers in different cultures d) Diverse workforce e) Stereotypes f) Need multinational mgmt capabilities
2) What are the components of cognitive ability? Why is there a "g" factor? How can we measure cognitive ability?
a) Capabilities related to the acquisition and application of knowledge in problem solving b) G factor is the general mental ability (includes verbal,quantitative, reasoning, spatial, perceptual abilities) c) Must use cognitive tests (IQ wonderlic)
29) What are the steps in the rational model of decision-making?
a) Decision Making: the process of identifying issues and making choices from alternative courses of action a) Define the problem b) Identify decision criteria c) Weight the criteria d) Generate alternative courses of action e) Evaluate each alternative f) Compute optimal decision c) What is bounded rationality? a) Rationality is limited by the info they have, the cognitive limitations, and the finite time they have to make a decision d) What is "satisficing" in decision-making? a) The act of choosing a solution that is good enough
48) What are the key trends driving the globalizing economy? Understand them and be prepared to identify and to offer examples. We discussed eight (8).
a) Disintegrating borders: Nafta, EU b) Growing trade and investment: Forex c) Internet and info tech: conferencing, global workday d) Global products/ customers: Apple, economies of scale e) Rise of global standards: ISO 9001:2000 series f) New competitors: GM offshoring g) Privatization: govt sale to private firm SSN h) CSR and Ethics: intellectual property, cheap labor and exploitation
41) What are the institutional sources of inequality? Why does social inequality influence multi-national companies?
a) Distributive justice, procedural justice, interactional justice b) Other countries have different social structures
3) What are the components of emotional intelligence? Why is emotional intelligence important to develop? What are the components of self-monitoring? Why is important to develop? How is it similar and distinct from emotional intelligence?
a) EQ is the Capabilities related to the management and use of emotions when interacting with others b) Components: Self-awareness, other awareness, emotion regulation, use of emotion c) Critical for jobs that require a lot of emotional labor d) Ability and desire to regulate one's public expressiveness to fit the sitch e) Components of Self monitoring: concern for social appropriateness, sensitivity to social cues, ability to exercise self-control in response to cues f) Similarities: can influence others and change perceptions/ can help succeed g) Differences: self-monitoring deals with social aspects and EQ deals with personal interactions
50) What are the key social institutions that are likely to influence the business environment of multinational management?
a) Economic systems b) Level of industrialization c) Types of religions b) What are the three major types of economic systems? a) Capitalist/free market b) Socialism c) communism c) What is industrialization and how can we characterize countries based upon what and how they produce? a) Cultural and economic changes that are brought about by fundamental changes in how production is organized and distributed to a society d) In general, how to religions impact cross-cultural business? What are the four religions that are practiced by a large percentage of the world's population? a) Christianity, islam, Hinduism, Buddhism b) Must worry about other customs and traditions
33) How do emotions impact decision-making? What is escalation of commitment?
a) Emotions can cause irrationality b) Commit to a course of action beyond the level suggested by rationality as means of justifying previous commitments
14) What do the six modern theoretical perspectives tell us about motivation? How does each help us understand work motivation and fuel our own and our employees' motivation?
a) Equity Theory (i.e., inputs v. outputs; points of comparison) a) Compare inputs and outcomes and shift behavior to achieve equitable balance between employees b) Outcomes should be in proportion to other employee's c) Job equity: same job, same organization d) Occupation equity: same job, different firms e) Age/education/experience equity: same demographic, different everything else f) Make sure employees know the procedural justice b) Expectancy Theory (i.e., what is expectancy v. instrumentality v. valence?) a) Effort>(expectancy: will effort produce desired performance)>performance(instrumentality: if performed will you get outcome)>outcomes (valence: do employees value outcome) c) Reinforcement Theory (i.e., positive reinforcement, negative reinforcement, etc.) a) Behavior is function of consequences d) Goal Setting Theory (i.e., from self- & career-development lecture/discussion) e) Job Characteristics Model (i.e., core elements; if you needed to motivate an employee what could you do to increase sense of empowerment?) a) Pay people enough to take money off the table then autonomy, mastery, purpose lead to better performance f) Prosocial Motivation (i.e., being aware of your own impact does what?) a) Assumes people want a better society so make people aware they have an impact
44) What is culture? What factors shape it? Why is it critical to understand and consider?
a) Espoused values, Basic underlying assumptions, Observed artifacts b) National, business, orgainizational, occupational, individual cultures c) Affects behavioral customs
12) What are the types of motivation?
a) Extrinsic: reward that is tangible visible to others, and given to employees contingent on the performance of specific tasks or behaviors b) Intrinsic: natural reward associated with performing a task or activity for its own sake.
43) What are the barriers for geographically distributed teams?
a) Faultlines>>superordinate social identity b) Communication barrriers(functional background difference, virtual environment, cultural differences) c) Lack of cohesion
47) What are competencies that can make global managers more successful? What is culture intelligence and global mindset?
a) Global mindset, EQ, ability to take long range perspective, motivational, negotiation skills, willingness to go overseas, cultural intelligence b) Ability to influence individuals, groups, organizations, and systems that have different intellectual, social, and psychological knowledge or intelligence from your own a) Think globally and act locally or think and act globally and locally
27) Why do you need to actively manage verbal and non-verbal communication? Why to people make attributions and what is the fundamental attribution error?
a) Goal of Communication: to manage and influence the perceptions of others b) Perceptions can be altered and are often incomplete and wrong c) You are always a sender and every signal says something about you d) Attribution theory: need to understand and explain the causes of other people's behavior a) Internal vs external attribution e) The fundamental attribution error: tendency to ignore external causes of behavior and to attribute other people's actions to internal causes
45) Hofstede's
a) Hofstede's 1. Individualism/collectivism 2. Power distance 3. Uncertainty avoidance 4. Masculinity 5. Long/short term orientation
6) What is surface-level diversity? What is deep-level diversity? What is the key criterion for determining the distinction? How do they relate?
a) How people look or act b) What people think or value c) If it can be observed without asking about it d) Surface level and deep level can be overlap (religion)
Components of transformational leaderships:
a) Idealized influence: setting example and sacrifice for group b) Inspirational motivation: creating a compelling vision of the future and demonstrating optimism c) Individualized considerations: support and coaching others d) Intellectual stimulation: challenging followers to view problems from new perspectives
b) What are the assumptions and limitations behind the rational decision making model?
a) Incomplete info b) Limited ability to process information c) Limited time d) Conflicting goals of players
What is important to consider when thinking about which influence tactic to use?
a) Is it consistent with social norms? Is it appropriate with your power base? How much skill needed in using tactic? How much resistance pre-exists based on the nature of the request or audience?
21) Why should you power pose before the exam? What can you do to increase your power and influence?
a) It makes you more confident. It increase testerone and decreases cortisol b) Increase positional/personal/relational power
9) What do we need to be mindful of as managers of an increasingly diverse workforce?
a) Know different groups value different things to motivate them and may expect different managerial actions
1) What are competencies? What are the three components of ability? Is ability a result of nature or nurture, or both?
a) Knowledge, Skills, Abilities, Others(Personality) relatively stable capabilities people have to perform a particular range of different but related activities b) Cognitive/physical ability, emotional intel c) both
19) What are the different types of leadership? (for example, what are the components of transformational leadership? What are the components of transactional leadership? What's the difference between the two perspectives?)
a) Laissez-Faire(hands off), directive(provide clear goals and manage closely, relies on legitimate power), empowering(sharing power to enhance motivation/investment), transformational(leader behaviors that create collective visions and goals and transforming employees' values and priorities ot achieve the visions and goals), transactional(leader behaviors that clarify expectations and offer contingent reward and recognition and punishment>>usually punitive) b)
20) How does context affect leadership?
a) Leadership effectiveness depends on personal style of leader and degree to which situation gives leader power b) When is each type likely to be effective/ineffective? a) Directive: role ambiguity, low abilities, external locus of control b) Supportive: tasks are boring or stressful c) Participative: employees have high abilities, internal locus of control d) Achievement-oriented: when employeeshigh abilities, high achievement motivation c) What are contingencies to consider according to Fiedler's model? According to the situational leadership model? a) Personal style of leader and degree to which the situation gives the leader power, control, and influence over the situation b) Leadership style effects are not consistent across situations and must match leadership styles to situational demands
18) What is the difference between leadership emergence and leadership effectiveness?
a) Leadership emergence: process where by individuals build influence with others without formal authority b) Effectiveness: actual effectiveness of a leader b) What are the predictors of leadership emergence? How has this perspective evolved? a) Traits/values, skills, bases of power b) Pre 1950s research focused on inherent (born) traits c) Post 1950s research focuses on characteristics that predict leader effectiveness>>>most characteristics involve both traits and skills c) What is social intelligence? How does it relate to self-awareness & self-moitoring? a) Set of interpersonal competencies built of neuro and biological neural circuits can influence others to be effective b) Self-awareness deals with own goals/values and self-monitoring deals with the situation and social intelligence deals with others
c) What is representative heuristic? Why does representative heuristic sometimes lead to biased decision?
a) Look for traits that corresponds with previously formed stereotypes b) Ignore base rates/ sample size
d) What is anchoring and adjustment bias?
a) Make an estimate based on a starting point and fail to adjust adequately
10) Why does diversity matter? What are key elements of the business case for diversity? What is affirmative action?
a) More diverse companies outperformed competitors, workforce can reflect customer base, mitigate legal risk, less diversity leads to less talent b) More money, less risk c) Affirmative action is purposeful steps taken by the organization to create employment opportunities for underrepresented segments of the population
11) What is motivation? What is engagement? Why are they important to understand for you as an employee and a manager?
a) Motivation is a set of forces that initiates, directs, and makes people persist in their efforts to accomplish goals b) 3 components: intensity(energy behind actions), direction(choices where to put energy), persistence(maintaining effort in pursuit of goals) c) Some employees want extrinsic rewards while others desire intrinsic and understanding what motivates you
23) Where is power from (i.e., "base")? What are the different bases/types of power?
a) Positional/personal/relations b) Bases are reward, coercive, legitimate, referent, and expert
22) Does power corrupt? What is the difference between "power" vs. "influence"?
a) Power is the potential to influence and influence is the means or vehicle by which power is exercised
49) Can you characterized economies in terms of stage of development?
a) Pre industrial, industrial, post industrial b) Developed economies(mature economies, high GDPs and hight level of trade/investment) US UK c) Emerging markets(between developed and developing and are rapidly growing) China, Brazil d) Developing economies(grown extensively in past two decades) Hong Kong Singapore e) Transition economies(in process of changing from govt controlled economic system) Russia Poland
15) What is procedural justice? How can you use it to your advantage when people are not rewarded the same?
a) Procedural justice: fairness in the process of dispute resolution+allocation of resources b) Give people a voice in how decisions are made, explain rationale for decisions, provide opportunities for appeals, apply rules and policies consistently
17) What is leadership? How can leadership impact a career—no matter the career? How are leaders distinct from managers?
a) Process of influencing others to mobilize and facilitate individual and collective efforts towards the accomplishment of goals b) Leadership can be a multiplier (for the functional buseness and strategic capabilities you are developing), accelerator(for career advancement), and a derailer (for executives rather then functional expertise) c) Managers are essential to ensure efficient progress given a steady course while leaders are essential to envision and stimulate necessary changes and longer-term survival
37) What is the difference between a programmed and non-programmed decision? What is an example of each?
a) Programmed: decisions on autopilot>>>percent increase in wage when promoted b) Non-programmed: discretionary>>> negotiating a contract
38) What are the four models of decision making in organizations?
a) Rational(Classical): seek to maximize outcomes b) Administrative: acknowledges limitations(bounded rationality) c) Political: recognize managers have different goals d) Garbage-Can: non sequential activity where problems, solutions, participants and choices flow through the organization
c) What is bounded rationality?
a) Rationality is limited by the info they have, the cognitive limitations, and the finite time they have to make a decision d) What is "satisficing" in decision-making? a) The act of choosing a solution that is good enough
4) What is personality? Why is important to understand, in general? Why is important to understand with respect to management?
a) Relatively stable traits or characteristics Enduring pattern of attributes/traits b) Deeply ingrained pattern of behavior c) Result of both genetics and environment (nature and nurture) d) Personality is other traits such as locus of control and goal orientation e) Important because it affects how behave and interact f) It is also useful to understand how others behave and how they go about operating b) What are the five dimensions in the Big Five model? Can you define each? Identify examples of each? What are the strengths and vulnerabilities of each dimension? a) Openness to experience: tendency to be intellectually curious, creative and favor variety 1. S: adaptable, creative 2. W: low decisiveness (Opportunity cost high) b) Conscientiousness: disciplined, organized, achievement-oriented, detailed-oriented, dependable ( strong predictor of success) 1. S: dependable, organized 2. W: Might be overbearing or unfit for job type c) Extraversion: tendency to be social, assertive, talkative 1. S: engaging, comfortable leading 2. W: poor listeners, attention hogs d) Agreeableness: tendency to be helpful, cooperative, sympathetic 1. S: friendly, aware of others and social dynamics 2. W: susceptible to self-doubt, defer to others e) Neuroticism: tendency toward anxiety, anger, envy, guilt, self-conscious 1. S:vigilant, risk seer, risk averse 2. W: gets stressed, worries (wastes energy) c) What is internal vs. external locus of control? a) Internal: attribute success/ defeat to internal reasons b) External: attribute to environmental forces d) What are the three types of goal orientation? a) Learning orientation: look to grow from every defeat/ success>>>come to learn (good) b) Performance-prove orientation: perform to gain praise (kinda good) c) Performance-avoid orientation: perform to avoid negative judgement (bad) e) According to Carol Dweck, what are the two types of mindsets regarding intelligence? How are they similar and nuanced from goal orientation? a) Fixed: intel/ talent are fixed so innate talent creates success. Effort makes no difference b) Growth: intel is developed and innate skill is a starting point. more learning orientation
31) What are heuristics?
a) Rule of thumb
32) What is confirmation bias? What is status quo bias? What are framing effects?
a) Seek info to confirm your thoughts and don't search for disconfirmatory evidence b) Tendency to favor here and now and reject potential change c) Alternative wordings of the same info that alters decisions a) Risk seeking when losses, risk averse when gains
28) What are key components of goal-setting theory and how can they motivate goal striving?
a) Set goals>>>Enablers(moderators) and Motivation(Mechanisms)>>>Performance
35) What is ethical dilemma? Why are ethics challenging to implement? What biases commonly impact how we might react in ethical dilemmas?
a) Situations when right or wrong when values are in conflict b) Right/wrong are hard to identify>> no agreement over principles c) Illusion of superiority(I am better), illusion of optimism(bad things happen to other people), illusion of control(master of my domain)
24) What are the factors that constrain or amplify the effect of power? When does power work (i.e., context & contingencies)?
a) Substitutatbility, centrality, discretion(freedom to exercise judgment), visibility.
26) What is social capital? What are the steps you can to be thoughtful and intentional in developing your network?
a) The value that is created between individuals; the benefits that can be derived from social relationships b) Diagnose your current network, anticipate your future network needs, develop external network c) Networking template: intro, setting agenda, telling about self should talk three minutes
25) How can you persuade other people? What are the different influence tactics?
a) Using influence tactics b) Can you give or identify examples of influence tactics? a) Rational Persuasion: using logic (expert power) b) Inspirational appeal: appeal to emotions (referent) c) Consultation: seek advice (referent) d) Ingratiation: use compliments (reward/ referent) e) Exchange: trade resources (reward) f) Personal appeal: use loyalty/friendship (referent or reward) g) Collaboration: help with request (expert/ reward/ referent) h) Apprising: explain why request helps target (expert) i) Coalition: use help of others to persuade target (coercive/relational) j) Pressure: use demands (coercive) c) What influence tactics are effective, considering power base(s)? a) Rational persuasion, consultation, inspirational appeals, collaboration d) What is important to consider when thinking about which influence tactic to use? a) Is it consistent with social norms? Is it appropriate with your power base? How much skill needed in using tactic? How much resistance pre-exists based on the nature of the request or audience?
40) How diversity ideologies affect our perceptions and workplace? How can organizational diversity initiatives create unexpected backlash (e.g., Kaiser et al., 2012)?
a) We get an illusion of fairness b) Diversity initiatives cause members to legitimize inequality by underestimate discrimination underrepresented groups experience
34) How do social situations impact decision-making? What does Asch's work suggest about decision-making in social situations? How might groups help or harm decision-making?
a) We tend to agree with society b) Asch: conform to confederates saying wrong line is longer c) This can lead to group think
13) Foundational perspectives on work motivations:
a) What does Maslow's hierarchy of needs inform us about motivation? a) Lower-order needs must be satisfied and higher-order needs will not motivate if lower are not met b) What does McClelland's needs theory inform us about motivation? a) Motivation factors: work condition that satisfies need for psychological growth 1. Need for achievement 2. Need for power 3. Need for affiliation
16) Are people motivated differently? What undermines motivation at work?
a) Yes, people value different things b) How employees perceive outcomes and enacted motivation theories not compatitable with preferred theory
5) What do we mean when we say diversity? What are the three ways to characterize collect of differences? Can you offer an example of each?
a) variety of demographic, cultural, and personal differences among an organization's members and customers b) separation: lateral difference (opinions/values) c) Variety: category difference (race, functional expertise) d) Disparity: vertical difference (pay, status, respect)
What tactics can help you make more ethical decisions?
b) Ask what is the right thing to do, assess risk, consider short and long term outcomes, develop your moral compass
GLOBE
b) GLOBE 1. Institutional collectivism 2. Family collectivism 3. Power distance 4. Uncertainty avoidance 5. Assertiveness orientation 6. Gender egalitarianism 7. Future orientation 8. Humane orientation 9. Performance orientation
Trompenaars 7d
c) Trompenaars 7d cultural model 1. Universalism vs particularism 2. Collectivism vs. Individualism 3. Neutral vs. affective 4. Diffuse vs specific 5. Achievement vs. ascription 6. Perspective on time 7. Internal control vs. external control
c) Transactional leadership is based on...
formal power and is reward/punishment based while transformational uses empowerment and inspiration
