Module 1 - Stocks, Entrepreneurship, Business Models, Strategy, Structure, Professionalism, Individual Behavior, Motivation, Leadership, Management
Business Model vs Competitive Strategy
A business model focuses on how a business runs and creates value, while a competitive strategy focuses on how a business outperforms rivals
Small Business
A business where an individual works for themselves and generates steady income
Marlow Case
A case study highlighting the importance of intrinsic and extrinsic rewards, accurate attributions, and perspective-taking in leadership
Premium Product
A high-quality product with a higher price point
T-Shaped Professional
A professional with better communication and collaboration skills, flexibility, and a combination of hard and soft skills
Entrepreneurial Venture
A scalable business model with innovation, growth orientation, risk, and funding
Value Stocks
Cheap stocks that are expected to rebound
Decentralization
Decision-making authority is distributed throughout the organization
Centralization
Decision-making authority lies with top management
Differentiation
Delivering distinctive value by doing different things
Extrinsic Rewards
External rewards such as raises, bonuses, and promotions
PESTEL
Factors that affect companies, including political, economic, social, technological, environmental, and legal factors
Intrinsic Rewards
Internal rewards such as satisfaction and a sense of accomplishment
Blue Chip Stocks
Large, well-known stocks that pay dividends
Behaviors/Styles
Leadership behaviors and styles, including maintenance needs, task needs, and change-oriented behaviors
Attributes/Traits
Personality traits that are linked to leadership effectiveness
Stock Indices
S&P 500, NASDAQ, and Dow Jones are examples of stock indices that represent different groups of companies
Hard Skills
Teachable skills or job-specific abilities that can be quantified or measured
Departmentalization
The basis on which jobs are grouped together into units
Expectancy
The belief that effort will lead to success
Business Model Format
The format used to present a business model
Attribution Errors
The fundamental attribution error and self-serving bias in attributing causes to behavior
Stock Market Hours
The hours during which the stock market is open (9:30 AM - 4 PM)
Span of Control
The number of individuals a manager can effectively direct
Color Scheme
The specific colors used in a product's design
Valence
The value placed on the rewards
Empowering Approach
A leadership approach that saves time, develops subordinates, demonstrates confidence, increases commitment and morale, and enhances managerial influence
Situation Leadership (SLII)
A leadership model that matches leadership style to the developmental stage of the follower
Budget Product
A lower-priced product with basic features
Side Hustle
A part-time occupation in addition to a main job
Shibumi Shade
A successful product actively advertised with a unique look, excellent customer service, and sold to a specific demographic
Business Model Canvas
A tool used to design new businesses, provide strategic planning, and understand competition
Leadership Effectiveness
Achieving objective performance metrics, helping team members improve skills, and creating a positive work environment
Comm 1800 Exam
An example of motivation based on expectancy theory, where studying is expected to lead to good performance and desired outcomes
Soft Skills
An individual's social ability and how they relate to and interact with other people
Matrix Organizational Structure
An organizational structure that allows for more customer flexibility and flexibility in general
Divisional Organizational Structure
An organizational structure that groups employees based on divisions, leading to better coordination and customer orientation
Functional Organizational Structure
An organizational structure that groups employees based on their specialized functions
Mid-Cap Companies
Companies with a market capitalization between $2 billion and $10 billion
Small-Cap Companies
Companies with a market capitalization between $300 million and $2 billion
Large-Cap Companies
Companies with a market capitalization of $10 billion or more
Escalation of Commitment
Continuing to invest in a poor course of action due to factors like avoiding loss and embarrassment
Operational Effectiveness
Doing the same things better than competitors
Cost Leadership
Driving down costs by doing things differently
Motivation
Forces within a person that affect the intensity, direction, and persistence of voluntary behavior
Sources of Power
Formal and informal sources of power, including legitimate power, coercive power, reward power, expert power, referent power, and informational power
Focused on Growth
Having a strategy that allows for development and expansion
Ramen Profitable
Having enough money to cover basic expenses
Angel Investors
Investors who provide resources to startups in exchange for equity
Extrinsic Motivation
Motivation that comes from external rewards, such as raises and promotions
Intrinsic Motivation
Motivation that comes from within, such as satisfaction and a sense of duty
Effective Goal Setting
Setting specific, challenging, achievable, accepted, and fair goals
Income Stocks
Stocks that consistently pay dividends
Growth Stocks
Stocks with earnings that grow at a faster rate
Leadership
The ability to influence and guide others towards a common goal
Instrumentality
The belief that performance will lead to rewards
Context/Situation
The context or situation in which leadership occurs and which behaviors/styles are most effective
Specialization
The degree to which tasks and activities are subdivided into separate jobs
Formalization
The degree to which there are rules and regulations in an organization
Chain of Command
The individuals and work groups to whom others report
Managing Up
The interdependent relationship between a boss and a subordinate, where mutual dependence and understanding are important
Goal Setting
The process of setting objectives to achieve desired performance outcomes
Cognitive Misers
The tendency for people to use mental shortcuts in making judgments and drawing inferences
Confirmation Bias
The tendency to seek out or pay attention to information that confirms our decisions, beliefs, values, and assumptions
Expectancy Theory of Motivation
The theory that motivation is based on the belief that effort leads to performance, performance leads to rewards, and rewards are valued
Market Capitalization
The total market value of all outstanding shares of a company
Business Model
The unique configuration of elements through which a company creates and captures value