MGMT 425 Final ch 12, 13, 14
What does the transactional leadership theory assume?
certain leaders may develop the ability to inspire subordinates to exert extraordinary efforts to achieve organizational goals through behaviors that may include contingent rewards and active (searching for mistakes) /passive (correcting behavior) management by exception
What is prescriptive analytics?
using optimization to identify best alternatives
Principles for effective implementation
- Committed leadership from top management. - Integration with existing initiatives, business strategy, and performance measurement. - Process thinking. - Disciplined customer and market intelligence gathering. - A bottom-line orientation. - Leadership in the trenches. - Training. - Continuous reinforcement and rewards.
What are the strategies for quality and performance excellence?
- ISO 9000 - Six Sigma - Baldrige Integration of 2 or more
What are the basic elements of self assessment
- Management involvement and leadership - Product and process design - Product control - Customer and supplier communications - Quality improvement - Employee participation - Education and training - Quality information
When managing information resources, organizations must ensure both data and information and the hardware and software systems that process them are:
- accessible in a timely fashion - reliable - accurate - user-friendly - secure and confidential - kept current
What are examples of Governance?
- approving strategic direction - monitoring and evaluating CEO performance - succession planning - financial auditing - executive compensation - disclosure - shareholder reporting
What is the purpose of a performance review?
- assess success and performance compared to competitors - understand how well progress on strategic objectives and action plans are achieved - identify priorities for improvement and opportunities for innovation for products, services, and processes
To foster a positive quality culture, organizations must:
- create and maintain an awareness of quality by disseminating results throughout the organization - provide evidence of management leadership, such as serving on a quality council, providing resources, or championing quality projects - encourage self-development and empowerment through the design of jobs, use of empowered teams, and personal commitment to quality - provide opportunities for employee participation to inspire action, such as improvement teams, product design reviews, or Six Sigma training - provide recognition and rewards, including public acknowledgment for good performance as well as tangible benefits
What does building and sustaining performance excellence require?
- effective leadership - commitment to change - the adoption of sound practices and implementation strategies - continuous organizational learning
What are the guidelines in selecting performance measures
- fewer is better - link to key business drivers - include past, present, and future - address needs of stakeholders - trickle down from top to bottom employees - combine multiple indexes into one - change as the environment and strategy changes
An Audit should examine:
- if measures align with org goals - if a balance was found between leading and lagging measures and operational and strategic measures - if any gaps, blind spots, or potential conflicts exist in measurement system
What is the value of performance measurement?
- if you don't measure results, you can't tell success from failure - if you can't see success, you can't reward it - and are probably rewarding failure - if you can't recognize failure, you can't correct it
Considerations to think about when linking measures to strategy
- inappropriate measures lead to inconsistency with strategy, even if they are well formulated and communicated - appropriate measures lead to attainment of strategic goals and impact the goals and strategies needed to achieve them - performance measures should strongly align with the principle factors that determine competitive success and strategic challenges the org faces - performance measures should also be aligned with strategies and action plans
What are 3 barriers to change?
- lack of what Deming called "constancy of purpose" - lack of holistic systems perspective - lack of alignments and integration with the organizational system
What are the challenges in small organizations and nonprofits?
- lack understanding an knowledge - lack resources needed for quality systems - lack market clout - not recognizing the importance of HRM strategies in quality - lack of professional management expertise - short-term focuses - lower technical knowledge and expertise - lack of structured information systems
Many organizations derive little benefit from conducting self-assessment and achieve few of the process improvements suggested by self-study. Why is that?
- managers do not sense a problem - managers react negatively or by denial - manager don't know what to do with the information
What are the 6 competencies for leadership?
- navigator: creates shared meaning and provides direction towards a vision, mission, goal, or end result - communicator: effectively listens and articulates messages to provide shared meaning - mentor: provides others with a role to guide their actions - learner: continuously develops personal knowledge, skills, and abilities through formal study, experience, reflection, and recreation - builder: shapes processes and structures to allow for the achievement of goals and outcomes - motivator: influences other to take action in a desirable manner
Leveraging self-assessment findings
- prepare to be humbled - talk through the findings - recognize institutional influences - grind out the follow-up
What are performance measurements in the Baldrige Criteria?
- product and process measures - customer-focused measures - workforce-focused measures - leadership and governance measures - financial and market measures
Role of the workforce: Senior leadership - Middle managers - the workforce -
- provide the vision - provide the leadership for the vision - deliver quality, grant empowerment and ownership
what is the purpose of designing effective performance measurement systems?
- providing a perspective of past, present, and future - identifying trends and progress - facilitating understanding of cause-and-effect - providing direction and support for continuous improvement - allowing performance comparison to benchmarks
Societal Responsibilities
- safety in product design and manufacturing - security of sensitive information - environmental sustainability - community support
What are the characteristics of strategic leadership?
- serving as both leaders and team members - acting with integrity - think in terms of processes, not outcomes - leveraging the collective knowledge of everyone in org - design work reflecting relationships not hierarchy - anticipate environmental change, not reacting to it - view employees as organizational citizens, not resources - operate with a global mindset, not domestic
Key practices for performance excellence leadership
- set org vision and values and deploy them throughout org's leadership system - show personal commitment to org values - foster a sustainable organization - promote environment of ethical behavior - communicate and engage with entire workforce - focus on action to accomplish goals - maintain effective governance system - evaluate senior leadership performance to improve effectiveness - participate in philanthropy
To promote a culture of quality, management must ensure that all employees know:
- their product or deliverable - their customer - their customer's quality expectations - have a metric to measure quality
What is comparative data used for?
- to know where an org stands compared to competitors and best practices - provides a driving force for improvement/change - to obtain better understanding of processes and their performance
What are some tough questions for managing change
- why is the change needed? - what will it do to my organization? - what problems will there be? - what's in it for me?
Personal leadership characteristics:
1. Accountability: taking responsibility 2. Courage: mental/ moral strength 3. Humility: gives leaders ability to mentor, communicate, and learn 4. Integrity: determining right from wrong 5. Creativity: ability to see possibilities 6. Perseverance: sticking to a task or purpose 7. Well-Being: staying healthy
What is the Quality life cycle?
1. Adoption: The implementation stage of a new quality initiative. 2. Regeneration: When a new quality initiative is used in conjunction with an existing one to generate new energy and impact 3. Energizing: When an existing quality initiative is refocused and given new resources 4. Maturation: When quality is strategically aligned and deployed across the organization 5. Limitation or stagnation: When quality has not been strategically driven or aligned 6. Decline: When a quality management system (QMS) has had a limited impact, initiatives are failing, and the QMS is awaiting termination
what are the 4 situational leadership styles
1. directing 2. coaching 3. supporting 4. delegating
The four levels of follower maturity are:
1. unable and unwilling - "directing" style 2. unable but willing - "coaching" style 3. able but unwilling - "supporting" style 4. able and willing - "delegating" style
What are the Universal best practices?
- cycle time analysis - process value analysis - process simplification - strategic planning - formal supplier certification programs
What is the Baldrige Criteria and analytics?
- strategy considerations - performance projections - performance measures - future performance
Learning organizations have to become good at performing five main activities
- systematic problem solving - experimentation with new approaches, learning from their own experiences and history - learning from the experiences and best practices of others - transferring knowledge quickly and efficiently throughout the organization
______ is an important factor for sustainability and long-term success for any organization, driven by leadership, often seen in the mission and vision statements, and is a powerful influence on behavior because it is shared widely and it operates without being talked about or being thought of
Culture
the Barldrige program provides two simple instruments for employee and also for leaders- Are We Making Progress? What does that entail?
They provide a way of capturing the voice of the employee and the perspective of leadership to develop baseline measurements of an organization's progress using the Baldrige criteria
What is internal benchmarking?
ability to identify and transfer best practices within the organization
Define Leadership
ability to positively influence people and systems under one's authority so as to have a meaningful impact and achieve important results
Define analysis
an examination of facts and data to provide a basis for effective decisions
Define Culture
an organization's value system and its collection of guiding principles
Examining trends and changes in measures and indicators using charts and graphs is an example of:
analysis
What is predictive analytics?
analyzing past performance to predict the future by examining historical data, detecting patterns or relationships, and extrapolating these relationships forward in time
Emotional Intelligence Theory
argues that expectations for emotional intelligence are generally not captured in performance evaluation systems, but the 5 components: - self-awareness - self-regulation - motivation - empathy - social skill are just as essential for executive level leaders as the traditional intelligence and technical competence
What is strategic change?
broad scope and stems from strategic objectives, generally externally focused and relate to significant customer, market, product/service, or technological opportunities and challenges
What is a "culture of quality"?
every employee embraces the organization's quality vision, values, and goals as a way of life
Effective _______ processes can mitigate the types of problems manifested by stock manipulations, financial misreporting, and corporate and personal greed that have occurred in the past.
governance
Define Integration
harmonization of plans, processes, information, resource decisions, actions, results, and analyses to support key organization-wide goals
What is a leadership system?
how leadership is exercised throughout an organization how key decisions are made, communicated, and carried out at each level
What is the knowledge management process entail?
identifying, capturing, organizing, and using knowledge assets to create and sustain a competitive advantage
Define Tacit knowledge
information formed around intangible factors resulting from an individual's experience and is personal and content-specific
Define explicit knowledge
information stored in documents of other forms of media
What is the Balanced scorecard from the Innovation and Learning perspective?
intellectual assets, employee satisfaction, market innovation, and skills development
Define Knowledge Assets?
intellectual resources that an organization possesses - information, ideas, learning, understanding, memory insights, cognitive and technical skills, and capabilities
What is Rapid knowledge transfer?
involves discovery, learning, creation, and reuse of knowledge that eventually becomes intellectual capital
Transformational Leadership Theory suggests that:
leaders adopt behaviors such as: - idealized influence - individualized consideration - inspirational motivation, - intellectual stimulation - have a long-term perspective - focus on customers - promote a shared vision and values - work to stimulate their organizations intellectually - invest in training - take some risks - treat employees as individuals
what is the "supporting" leadership style?
leaders allocate tasks and set direction but subordinates have full control
what is the "coaching" leadership style?
leaders set overall approach and direction but let subordinates manage details
What is Situational leadership theory?
leadership styles might vary from one person to another, depending on the "readiness" of subordinates, characterized by their: - skills and abilities to perform the work, and their confidence, commitment, and motivation to do it
The ________ includes structures and mechanisms for decision making, selection and development of leaders and managers, and reinforcement of values, directions, and performance expectations.
leadership system
what is the "directing" leadership style?
managers define tasks and roles, closely supervising work
What is Big Data?
massive amounts of business data from a wide variety of sources
What does the Baldrige framework establish?
measurement and knowledge management as the foundation of performance excellence
An outdated _______ wastes resources, hinders strategic deployment, and often rewards the wrong behaviors
measurement system
What is process change?
narrow in scope and deals with the operations of an organization - an accumulation of continuously improving process changes can lead to a positive and sustainable culture change
Corporate Social Responsibility (CSR)
organizations must behave ethically and be sensitive of social, cultural, economic, and environmental issues - legal & ethical standards - corporate governance, and protection of public health, safety, and environmental protection
What are lagging measures?
outcomes
what are leading measures?
performance drivers - predict what will happen
Define Strategic Leadership
person's ability to anticipate, envision, maintain flexibility, think strategically, and work with others to initiate changes that will create a viable future for the organization, and its competitive advantage to the organization in this way
What is the Balanced scorecard from the financial perspective?
profitability, revenue growth, return on investment, economic value added (EVA), and shareholder value
What is the Balanced scorecard from the Internal perspective?
quality levels, productivity, cycle time, and cost.
What is interlinking?
quantitative modeling of cause and effect relationships between performance measures
____________ is knowledge that can be converted into value and profits
rapid knowledge transfer
Define Alignment
refers to consistency of plans, processes, information, resource decisions, actions, results, and analyses to support key organization-wide goals
What is comparative data?
refers to industry averages, competitor performance, world class benchmarks, or performance measures of other organizations with similar product offerings
What is the Balanced scorecard from the Customer perspective?
service levels, satisfaction ratings, and repeat business
what is the "delegating" leadership style?
subordinates do their work with little supervision or support
Define Governance
system of management and controls exercised in the stewardship of an organization
Organizational Sustainability
the ability to address current needs and have the agility and management skills and structure to prepare successfully for the future
What is knowledge transfer?
transferring knowledge and sharing best practices throughout the organization *this sets high performing organizations apart
Leaders who take on a _____ style have a long-term perspective, focus on customers, promote a shared vision and values, work to stimulate their organizations intellectually, invest in training, take some risks, and treat employees as individuals
transformational
_______ leadership is more aligned with ________ required by total quality and Baldrige-like performance excellence models
transformational, organizational change
T/F Leadership is the first category in the Baldrige framework, signifying its importance in driving quality and performance excellence throughout an organization
true
What is descriptive analytics?
use of data to understand past and current performance and make informed decisions
Define analytics
use of data, IT, statistical analysis, quantitative methods, and math/ computer based models to help managers gain improved insight about their business operations and make better, fact-based decisions
