Management Final Exam Review Ch 9 16 2 17 14 Chapter 9 Culture Innovation Change Managers must 1 Develop Culture 2 Encourage Innovation 3 Manage Change Zappo s and Culture Video http www youtube com watch v g6WHAfWqX3s feature youtu be o Tony Hsieh book Delivering Happiness o 10 core values o Be Humble o Casual culture Organizational Culture o System of shared beliefs and values guiding behavior internal The way we do things around here Corporate Culture Shape attitudes Reinforce beliefs Direct behavior Set expectations o Set of signals of what is considered appropriate vs inappropriate external Thinking and acting Disney Traditions with Mickey Video o http www youtube com watch v 6qExwk0Hf7k feature youtu be disney look overview overall guidelines o http cp disneycareers com en onboarding fl working here Cultural Fit has a high impact on people leaving their jobs o What is you image brand o Examples Lady Gaga and Polaroid Justin Timberlake and Bud Light o Are clear well defined performance driven and widely shared by Strong Cultures members Socialization o Process of helping new members learn the culture and values of the organization as well as the behaviors and attitudes that are shared among its members Mergers and Acquisitions KPMG Study o Analysis of 700 deals over 2 yrs o 83 failed to produce benefit o 50 destroyed shareholder value o Only 17 added value Why Lack of cultural fit o Wall Street Culture John Reed Video o http www youtube com watch v i1qGX92OkwQ feature youtu be Societal Cultural Examples or Sub Cultures o Academic type and level o Functional marketing mgmt scm CEO of City Corp 3 million bonus 15 million bonus change of culture Observed Culture vs Core Culture o Observed what you see and hear when walking around an organization o Core found in the underlying values of the organization Corporate Culture Levels Edgar Schein s Levels Iceberg Visible dress office symbols slogans Assumptions deep beliefs ex We are a family Invisible expressed values ex HP Way o Heroes Cultural Benefits Shared knowledge of hero stories Establish or represent core values Every level in organization people past or present o Ex Founder of Wal Mart Chairman of Citi Group Walt Disney o Rites and Rituals Cultural Benefits Creates connections people and organizations Builds morale and engagement Shares hands on experiences Dreamworks Culture Video http www youtube com watch v jz b4viiFaU feature youtu be o Symbols Cultural Benefits o Stories Cultural Benefits Common understanding of culture Easy to recognize you and others Language and other symbols conveying core values Easily remembered and passed on Instills deeper cultural understanding Wegman s Best place to work Video http www youtube com watch v CXljEk1VM3c feature youtu be Value Based Management o Managing with a commitment to actively help develop communicate and represent shared values within an organization Workplace Spirituality o Practices that create meaning and shared community among organizational members Innovation o Taking a new idea and putting it into practice Turning new ideas into usable applications o Three Forms of Innovation Process Innovation result in a better way of doing things Lean Principles reduction of waste Reduction of cost Better in customer satisfaction Increased turnaround time Increase in output Product Innovation result in new or improved goods or services Apple smartphones introduce apps a must have Amazon s kindle e book Business Model Innovation result in way for firms to make Instagram money Becomes popular Facebook buys it Instagram Video great example of a business model innovation for instagram and facebook http www bloomberg com video 90253113 instagram ceo an insta millionaire in facebook deal html Sustainability Green Innovation reduces carbon footprint of and organization or its products Toyota Subaru Zero waste Commercialization o Selling Innovation o Turns new ideas the inventions into actual products services or processes the applications that generate profits through more sales or lower costs Post It Notes http www youtube com watch v ynGquIGZ9nI feature youtu be Organizational Protocols Supporting Innovation o Strategy includes innovation o Culture values innovation o Structures support innovation o Management supports innovation o Staffing for creativity and innovation Change o It is personal and organizational o Dictionary com to make the form nature content future course etc of something different from what it is or from what it would be if left alone Two Types Transformational change that results from the major and comprehensive redirection of the organization new vision new strategy new culture new structure and even new people o IBM service provider strategy cost and culture Incremental change that bends and adjusts existing ways to improve performance o Keeping things tuned up in between transformations o Change Leadership and Approaches to Change o o Monster change issue is timing and 2nd communication Who moved my cheese Video Reactions to change http www youtube com watch v 4C0M2CL9TJE feature youtu be o Change Process Kurt Lewin Model Unfreeze creating a felt need for change o Goal is to get people to view change as a way of solving a problem or taking advantage of an opportunity o Establish good relationships with those involved o Help others realize present behaviors aren t effective o Minimize resistance to change o Burning Bridge phase Change implement and manage the process of change o Identifying new more effective ways of behaving o Choosing changes in tasks people culture tech o Taking action to put these changes into place Refreeze stabilize the change o Creating acceptance and continuity for the new structures behaviors o Providing any necessary resource support o Using performance contingent rewards and positive reinforcement Force Coercion o Change Strategies and or the use of rewards or punishments Direct Forcing unilateral action Political Maneuvering indirect action pursues change through formal authority Rational Persuasion persuasion backed by special knowledge information facts and rational argument attempting to bring about change through Shared Power change needs values and goals pursues strategy by participation in assessing o Why People May Resist Change Fear of the unknown Disrupted habits Loss of confidence Loss of control Poor timing Work overload Loss of face Loss of purpose Small victories unfamiliar culture Confusion Honeymoon Reality
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