MGMT FINAL EXAM REVIEW CHAPTER 9 Organization Culture is a system of shared beliefs and values guiding behavior the way we do things here personality of organization also called corporate shapes behavior and influences performance Strong cultures are clear well defined and widely shared among organization members Socialization is the process through which new member learn the culture of an organization What are the big three things managers must do Develop culture encourage innovation manage change Zappos video tony hsieh CEO says Culture is number 1 driver to their success be humble Sub cultures Sports faculty Personal cultural fit is the biggest impact on ppl leaving their jobs Organizational augustan national psu exercise What can we observe What is core Culture what we can see and what that group says is internal and personal Corporate culture shaping attitudes reinforcing beliefs directing behaviors setting expectations KPMG slide most merchers and equisitions do not add value bc not understanding culture ICEBURG OF CULTURE Above water line see it observable culture Stories wegmans number 1 thing performance and culture intersect tales about events conveying core values employers customer leadership Rites pixar video celebration of heros and events displaying core values Symbols tony tiger and nittany lion benefits language and symbols conveying core values Heros can come from any level of org past and present who display core values Under water line cant see it what we say about ourselves core culture Core culture values beliefs right ways to behave Innovation is the process of taking a new idea and putting it into practices Process innovations result in better ways of doing things Ex nike lets customers design their own sneakers amazon one click shopping Product innovations result in the creation of new or improved goods or services Ex kindles ipads business model innovations result in new ways of making money for the firm Ex instagram blockbuster google car business model innovation vending machines swiping selling the same thing but changing it sustainability innovation zero waste reduces the carbon footprint of an organization or its products Ex replacing air travel with video conferencing reduction in cost increase life cycle increase in output better customer satisfaction 6 simga process improvement Begins with invention and ends with application Commercialization innovation is the process of turning new ideas into actual products post it notes making cool idea marketable selling terra cycle post it notes nick D Aloisio sold app to yahoo innovation change personal and organization CHANGE PROCESS 1 unfreeze create a need for change 2 change implement and mange the process of change 3 refreezing stabilize grief process everyone goes through change change is driven by opportunities and threats fb insta incremental day to day bends and adjusts existing ways to improve performance IBM CASE BURNING PLATFORM major motivator for change on ship going down unless something happens stragey cost culture FAILING TWINKIES CASE Change Drivers confident in ability willing to take risks seize opportunities expect surprise make things happen Status Quo Holders threatened by change bothered by uncertainty prefer predictability support status quo wait for things to happen Who moved my cheese video ppl dealing with change CHAPTER 10 Video hire creatively Cost vs asset Human capital the economic value of peoples abilities knowledge experience ideas energies and commitments strategic HRM mobilizes human capital to implement organizational strategies SHERM society for human res mgmt all companies use to deal with work force dedicated to keeping its membership up to date in all aspects of HRM from fundamental practices to current events and issues 3 functions HRM major responsibilities 1 Attracting a quality workforce recruitment and selection 2 developing a quality workforce orientation training 3 maintaining a quality workforce compensation and benefits work life balance what is the most important thing in getting ready to hire what do you need and define the job how companies recruit internal and referral career fit selection choosing whom to hire from a pool of qualified applicants reliability means that a selection device gives consistent results over repeated measures validity means that the test score is a good predictor of future job performance assessment center evaluating a person s job potential by observing his or her performance in experimental activities designed to simulate daily work work sampling evaluates candidates as they perform actual work tasks developing 4 components JNJ orientation program American society for training development ASTD Big trade asso every large comp uses to understand training Top ten training subjects Coaching occurs as an experienced person offers performance advice to a less experienced person Mentoring assigns early career employees to more influential ones Performance appraisal developing a person gives feedback to their work accomplishments Keeping people Contingency workers work as needed and part time often on a longer term basis Merit pay awards pay increases based on performance contributions Profit sharing distributes to employees a proportion of net profits earned by the organization Gain sharing allows employees to share in cost savings realized by their efforts health and aging issues fringe benefits forms of compensation such as health insurance and retirement plans flexible benefits employee can choose what best suits them employee assistance programs helps with troublesome problems like stress alcohol abuse Age chart is 25 54 getting bigger or smaller Labor union org that deals with employers on the workers collective behalf HR video and sass video CHAPTER 14 Team is a collection of people who regularly interact to pursue common goals Synergy is the creation of a whole greater than the sum of its individual parts Nascar video all of things guy talks about to develop team Benefits of teams more resources for problem solving improved creativity and innovation improved quality of decision making greater commitment to tasks increased motivation of members better control and work discipline more individual need satisfaction Common problems of teams social loafing the tendency of some people to avoid responsibility by free riding in groups slacking off in group projects Supervisor directing Facilitator coordinates Types of teams Formal
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