Chapter 9 Managers must Big 3 Develop culture manage change encourage innovation Cultural fit lack highest impact of leaving a job Zappos Disney and Pixar videos Observable and core cultures 3 definitions of culture System of shared beliefs values guiding behavior internal The way we do things around here Set of signals of what is consider appropriate vs inappropriate external Every major culture has a subculture Culture is personal PSU exercise Culture is organizational global and corporate It can be written speaking saying and or visual 4 elements of culture Will have a question shapes attitudes reinforces beliefs directs behavior sets expectations Disney traditions with Mickey Mouse Cast Members Employee o designed to shape behavior KPMG study Where does culture come into play 83 of mergers fail to produce any benefit due to culture conflict Observational vs Core cultures Iceberg visible vs invisible Observable Culture Stories Heroes Symbols Rites Rituals Core Culture Values or beliefs about right ways to behave Heroes shared knowledge of hero stories establish or represents core values Employees customers or leaders that do something extraordinary Most famous heroes are leaders The 6 MUST KNOW people that are heroes o Sam Walton Walmart o Ken Frazier Merk Pharmaceuticals o Walt Disney o Meg Whitman HP Indra Nooyi Pepsico o o Ursula Burns Xerox Rites Rituals Creates connections with people organization Builds morale and engagement shared hands on experiences Pixar Video o Atrium is used to collaborate and connect o Office design to create and customize Love Lounge brings CEOs who must sign their names Symbols Common understanding of culture easy to recognize Company logos are examples Tony the Tiger PSU Nittany Lion Stories Easily remembered passed on Instills deeper cultural understanding Where Performance and Culture intersect is where companies make the most money Innovation Definitions Taking a new idea and putting it into practice The process of translating an idea or invention into a good or service that creates value or for which customers will pay 3 D Printing example Comes from Star Trek Replicators Can print anything can be customized benefit Can print guns negative 4 forms of innovation 3 1 Process Product Business Model Sustainability Process innovation Reduction cost Gulf Stream increased turn around cycle time increase in output better customer satisfaction o Lean principles reduction of waste Six Sigma Process improvement Vending Machines o Cash credit debit can be used o Innovation in payment easier transactions Nick D Aloisio Innovator o Sold App to Yahoo for 30 billion o Summly For phones business Product innovation Predator Drone Example Summarizes content texts in a different way to understand Changing a process can mean big changes with a lot of benefit to the o Frank Way Phantom Vision Plus o Military weaponized Drones o remote control with birds eye view gpa enabled hovers fly s camera shoots full HD footage while stabilizing the camera o Called Drone Tech new product innovation Business Model Ways you currently make money based on how the world is going Instagram Video o Business Model innovation for FB and Insta o 3 ways Filters Speed Distribution past to many networks at once Blockbuster Dish Network examples o Business model changes in video TV world Sustainability Innovation use resources to meet needs without compromising the ability of future generations to meet theirs Toyota Subaru have zero waste manufacturing Terra Cycle Turns any type of garbage into new products o Mixed worm poop with soil to make fertilizer o recycles almost anything eliminate idea of waste o 0 marketing budget o Negative cost marketing Commercialization Selling innovation Post it Notes Super Soaker Lonnie Johnson Terra Cycle o Called another name then changed it business took off limit profits to 1 revenue o o waste turned into products o waste comes in o o can be refurbished science department evaluates before marketed IPad and Apple Watch 5 elements to support innovation Strategy Includes innovation Structure Supports innovation Culture Values innovation Management Supports innovation Staffing For creating innovation 3M Example goes with Minnesota Mining Manufacturing 30 if revenue is made by new products 6 of sales on R D Change Definition to make the form nature content future course etc of something different from what it is or from what is would be if left alone Two types Incremental day to day Transformational huge business change o IBM o Hostess Burning Platform if stay you die or jump with the risk Changes Strategy to focus on customer 1991 World was changing and they didn t change with it 36 Brands 30 facilities 18 000 employees 500 Union bargaining components Died on November 12 2012 because lack of change Went into bankruptcy On Ebay for 10 000 July 2013 Comeback with 4 facilities Kubler Ross grief model Change model We don t change organizations lightle but innovation must be constantly moving Approaches to Change Change Drivers vs o Confident ability o willing to take risks seize opportunities o o expect surprise o make things happen Status Quo Holders o Threatened by change o bothered by uncertainty o prefer predictability support status quo o o wait for things to happen Change Process Unfreeze create a need for change Change implement manage the process of change Refreezing Stabilize the change and scan for future Moneyball Video Oakland Athletics Don t have enough money for exceptional talent Use data to see what to do to get team together recruit Computer usage threatens jobs Who Moved My Cheese Question on Test Don t change core benefits cheese is anything you value Chapter 10 Cost negatives you want to be reduced Assets positive that is brought to company Financial capital stock bonds to help fund Human Capital Economic value of employees skills knowledge build business through investment physical capital land labor o 1 asset to businesses Strategic HRM Aligns human capital with the strategy of the organization SHRM Society for Human Resource Management Large governing body of everything human resources related 3 functions of HRM building and maintaining a quality workforce Attracting Recruiting o 3 steps Assess needs and define jobs recruiting strategies and implementation candidate selection and job offer process Johnson Johnson Example o o Worldwide with numerous business units A lot of talent needs Assesses needs for each individual major talent
View Full Document
Unlocking...