Test

Get from your present state to desired state by asking

"What do I want instead of my Present state?"

From the desired state to the higher level outcome by asking

"What does having achieved my desired outcome do for me?"

From present state to obstacle

"What stops me from reaching my Desired outcome? And then "What do I want instead of my Obstacle?"

Managers must drive efforts on at least

10 fronts, combining data management approaches to shaping new analytics-focused roles to setting guidelines for responding to "digital smoke signals"

Customer Segment

A group of customers with common needs, common behaviors, or other attributes

Which of the following is NOT a deliverable?

A signoff by the sponsor on the phase of the project

still a massive challenge for many firms

Achieving operational excellence

Brook's Law (for the man who wrote the book, The Mythical Man Month) states that

Adding more people to an already late project will make it later

Which of the following is NOT an example of an organization maintaining a customer relationship?

Airlines paying Rolls-Royce a fee for servicing airline engines

Which of the following is/are a true statement about the business model canvas?

All of the above statements are true. Customer groups represent a distinct segment if we give them a distinct offer or we serve them through different channels. The channel component describes how we will deliver or reach our customers with the value proposition. The right side of the canvas is generally related to revenue recognition, while the left side of the canvas is generally related to costs.

According to our class discussion of business process, which of the following is emerging as the standard for modeling business processes? (HINT: It is the one we teach at UGA)

Business Process Modeling Notation (BPMN)

Functions in a functional organization refers to

Closely related set of tasks or activities

Three components of a Digital Business Model

Content - what is consumed? Information (product information, price and use details, etc.), Product (digital products) Experience - how is it packaged? Customer experience Platform - how is it delivered? Internal, external

According to the article "Optimizing Your Digital Business Model," what are the three components of every digital business model?

Content, Experience, and Platform

Which of the following is no a key business process?

Data Modeling

Which of the following is important to keep in mind when developing a Gantt chart?

Dependencies and milestones

Cost Structure

Describes all costs incurred to operate a business model

A work breakdown structure (WBS) is a

Description of tasks, numbered and arranged in layers of detail

Which of the following does NOT describe a type of key resource?

Designing, making and delivering a product in substantial quantities

Which of the following is NOT a role of Enterprise Systems?

Document the organizational process

The system that manages the financial, accounting, HR process within an organization is known as

ERP

Which of the following BPMN elements refer to things that happen instantaneously, often to kick off a process?

Event

Integrity is the necessary level of secrecy is enforced at each junction of data processing and prevents unauthorized disclosure

False

Internet Protocol as a hub for the processing of packets and retransmitting of packets to the correct destination

False

Invention means putting innovation to practice

False

The agile approach of systems development is characterized by

Freezing of a phase before moving on to the next phase

Which of the following is NOT a notation used for business processes?

Gantt Charts

A business model CANNOT be used to do which of the following?

Identify the sequence of primary and support activities within the organization used to generate value for the customer and margin to the organization.

Which of the following is NOT a consequence of poor coordination?

Increased visibility across the process within the organization

Which of the following matches what an Exclusive Decision Gateway does?

Indicates locations within a business process where the sequence flow can take one of two or more alternative paths

Which of the following is NOT one of the triple constraints of project management?

Information

According to the Magal Chapter on : Organizations, Business Processes, and Information Systems," which of the following is NOT a problem associated with functional organizations?

Lack of Structure

What business model involves serving two or more interdependent market segments, and typically involves a platform to bring the two customers together?

Multi-sided

Which of the following is NOT an ability provided by an ERP system for an organization?

Multiple different versions of the data across the organization

Two-sided markets rely on which effect to be successful?

Network effects

What are the disadvantages of cloud computing?

Organizations are dependent on the network and providers of services as well as the perception of security of the organization

Which of the following is NOT one of the phases of the SDLC?

Position the organization to generate value

According to the reading, which of the following is not a type of process flow in an organization

Project Flow

The name of the professional organization for project managers that issues the PMBOK is known as

Project Management Institute

The system development life cycle (SDLC) method for leading IT-enabled change to work systems would typically take place in which stage of the project?

Project execution and control

What of the following best describes the "bait and hook" business model?

Provide products for low or no cost and then make up the profits on complementary goods

Which of the following is NOT a state of a process that is modelled using BPMN?

Random Process

The benefits of adhering to project management strategies helps

Reduce risks, cut and improve success rates

Which of the following is NOT a revenue stream for the organization as they provide a value proposition?

Reduction of risk and uncertainty

Which of the following is a problem where the scope of a project is never clearly defined?

Scope grope

Resources classes are captured using

Swimlanes

Value Proposition

The benefit or bundle of benefits that a company offers customers

Key Resources

The most important assets required to make a business model work

Which of the following is NOT true of the silo'ed organization?

The structure of silo'ed organization is incredibly effective for communication and collaboration between functions

A business model canvas can be used to identify the various aspects of the canvas that generate profit for the business

True

Outcome directed (outcome frame):

What do I want instead of this problem? How will I know when I achieved this outcome? What will I gain by achieving this outcome? What will I lose? Is it worthwhile? What resources do I need to achieve this outcome? How will I get them? What is the first step I can take to achieve this outcome?

According to the video on visualization, which of the following is NOT TRUE?

When collaborating in a meeting, it is easier to deal with primarily text-based reports

Problem directed (problem frame):

Why do I have this problem? What caused the problem? Who is to blame? What stands in the way of a solution? How likely is it that I'll solve this problem?

Promote psychological safety

acknowledge the experiment, reduce legal concerns, enable social bonding

organizations need competent management just as much as they need

analytical brilliance. Encourage firms to invest in strengthening management throughout the organization.

BYOD

bring your own device

A smart creative person is one that combines

business expertise, technical knowledge, and creativity

to compete, companies will have to rethink their

business models, identifying new opportunities for creating and capturing value

Target setting

choice of targets, connection to strategy, extent to which target cascade down to individual workers, time horizon, level of challenge, clarity of goals and measurement

Once the investment in network infrastructure has been made the page can be

communicated to the incremental consumer at 0 marginal cost

The innosight reading recommends which strategy got big companies innovating in the context of creative destruction

create, operate, and trade

Lean start up favors

customer feedback over intuition, iterative design over big design up front development

Creative destruction refers to the rise of innovation with the

demise of the old way of doing things

Lean start up

does not favor elaborate planning over experimentation

Enable knowledge sharing

emphasize professional values, force face-to-face interaction

Data analysts used to add the most value by

enabling managers to make better internal decisions

Digital signals can be transmitted without

error

digital transformation is pushing both

established and start-up players in many industries to compete in new ways

what causes differences?

false perceptions, governance structures, skill deficits, organizational politics and culture

Creating outcomes

flipping (want?), well formed (positive?), worthwhile (gains/losses), where to tap

cross industry teams made up of far-flung participants outside the usual business ecosystem are necessary

for radical innovation. But managing such diverse teams is challenging.

four leadership practices can help cross industry teams meet their potential

fostering an adaptable vision, promoting psychological safety, enabling knowledge sharing, and adopting an execution as learning mindset

The challenge is to

frame people's differences as a source of strength for the team

Digital business models must offer

good content, customer experience, and platforms

Skill deficits

good management practices require capabilities that may be lacking in a firm's workforce

Firms with strong managerial processes perform significantly better on

high-level metrics

Digital signals can be replicated

indefinitely

Fundamental components of an information systems are

information, technology, processes, and people

Emphasis turns to building analytical power

into customer products and services

False perceptions

large number of managers are unable to objectively judge how badly their firms are run

Foster an adaptable vision

make project values explicit, invite input and celebrate change

Governance structure

managers may be fully aware of the need to improve their practices but pass on this opportunity for fear that change by jeopardize private objectives

Effective management processes are highly correlated with

measures of strategic success, differences in process quality persist over time, there's little evidence that best-in-class processes can be imitated.

The acronym MVP in the lean start up article stands for

minimum viable product

Core Managerial Practices

operations management, performance monitoring, target setting, talent management

Performance monitoring

process documentation, use of key performance indicators, KPI reviews, discussion of results, consequences for missing targets

According to McKinsey, what are areas of technology-based transformation

process effectiveness, customer experience, data and information, business integration, and new products and services. NOT OFFICE AUTOMATION.

teams struggle to perform for a variety of reasons

roles are uncertain, expertise, professional values, and organizational cultures are varied, and participant's diverse perspectives and experience may cause conflict

The role of technology in the digital era as defined by KPMG is

strategic

Talent management

talent mindset at the highest level, stretch goals, management of low performance, talent development, employee value proposition, talent retention

GE has invested millions, linking previously discrete

tasks and equipment to create more revenue

Foster execution as learning

test and learn, welcome arguable change

Attacker's advantage refers to

the ability of newcomers to take advantage of new technologies to be profitable

Organizational politics and culture

the adoption of core management processes can be a challenge even when the top managers correctly perceive what needs to be done

According to KPMG, the digital era was based on the introduction of what disruptive technology

the internet

you can't compete on the basis of better management processes because

they are easily copied. Operational excellence!

Operations management

use of lean techniques, reasons for adopting lean processes

Mental frames

ways we view the world around us that influence how we understand our world

The new strategic focus on delivering value to customers has profound implications for

where analytics functions sit in organizations and what they must do to succeed

How you frame the problem will influence

your ability to solve the problem