Management 301 Final Exam Study Guide I Chapter 9 Culture Innovation Change A Managers Must 1 Develop culture 2 Encourage innovation 3 Manage Change B Culture 1 Definition a A system of shared beliefs values guiding behavior internal b A set of signals of what is considered appropriate vs inappropriate Deliver wow through service Embrace drive change Create fun and a little weirdness Be adventurous creative open minded Pursue growth learning Build open and honest relationship with communication Build a positive team and family spirit Do more with less Be passionate and determined Be humble external 2 Zappos Video a 10 core values i ii iii iv v vi vii viii ix x 3 Subcultures a Academic b Functional c Sports d Faculty 4 Cultural Fit 5 Corporations Culture a Shape attitudes b Reinforce beliefs c Direct behavior d Set expectations a High impact on people leaving their jobs b If you do not match with like your job you will not succeed 6 KPMG Mergers Acquisitions Study a Most do not add value b They do not understand culture C Observable Core Culture 1 Observable Culture a What you see and hear when walking around an organization b Above the waterline c EX football clothing diversity socials parties classes d Found in stories heroes rituals and symbols i Stories tales about events conveying core values Easily remembered passed on Instills deeper cultural organization 1 Wegmans where performance culture intersect ii Heroes people past present who display core values can be anybody in the organization Shared knowledge of hero stories Establish or represent core values iii Symbols language other symbols conveying core values Common understanding of culture Easy to recognize Tony the Tiger Nittany Lion as symbols iv Rites Rituals celebration of heroes events displaying core values Creates connections between the people the organization Builds morale engagement Shared hands on experiences Pixar putting stories into culture 2 Core Culture a Values or beliefs about the right ways to behave b Below the waterline c What you say d EX Joe Paterno success academics philanthropy intelligence work ethic D Innovation 1 Taking a new idea and putting it into practice 2 Process of translating an idea or invention into a good or service that creates value for which customers will pay 3 Three Forms of Organizational Innovation 1 a Process result in better ways of doing things i Lean principles reduction of waste Reduction in cost Better customer satisfaction Increased turn around cycle time Increase in output EX swipe on vending machines b Product result in new or improved goods or services EX putting books onto kindle c Business Model result in ways for firms to make money EX Facebook buying instagram EX blockbuster dish EX Google driverless cars EX swipe on vending machines ii i i ii iii iv i d Sustainability Innovation reduces the carbon footprint of an organization or its products EX Toyota Subaru zero waste Sustainability is a major driver for innovation right now E Commercialization 1 The process of turning new ideas into salable products 2 Selling innovation 3 Examples a Post it Notes 2 b Teracycle trash video up cycling turning juice boxes into bags 4 Organizational Protocols Supporting Innovation 3M a Strategy includes innovation b Culture values innovation c Structures support innovation d Staffing builds talent for innovation e Management supports innovation f Leadership drives innovation F Change 1 To make form nature content future course different 2 Personal and organizational a Change people Fear of unknown Loss of control b Dealing with grief model 3 Two types of change a Transformational It s a process Denial anger bargain depression acceptance move on Results in a major and comprehensive redirection of the organization New vision new strategy new culture new structure b Incremental Bends adjusts existing ways to improve performance Intent is not to break remake the system but to move it forward through continuous improvements small changes day to day New products new processes new technologies new work systems CHANGE TENDS TO BE DRIVEN BY OPPORTUNITIES OR THREATS Facebook instagram i ii i ii i ii i ii iii 4 Burning Platform a Major motivator for change b EX IBM Lou Gerstner i ii iii Strategy Cost Culture c EX Hostess Twinkies i Went out of business in 2012 Unsustainable business model ii Refused to change iii iv Twinkies hostess was bought out and remade 5 Change Process a Unfreezing create a need for change b Changing implement manage process of change c Refreezing stabilize the change scan for the future 6 Approaches to Change Change Drivers Status Quo Holders 3 Confident of ability Willing to take risks Seize opportunities Expect surprise Make things happen Threatened by change Bothered by uncertainty Prefer predictability Support status quo Wait for things to happen 7 Who Moved My Cheese when you change what you believe you change what A HR Management is the process of attracting developing and maintaining a high quality II Chapter 10 Human Resources you do workforce B People as a cost or asset 1 Cost to reduce 2 Asset to develop C Human capital is the economic value of employee s skills and knowledge D Strategic HRM aligns human capital with organizational strategy E Three Functions of HRM the building maintaining of a quality workforce 1 Attracting a Assess need define job MOST IMPORTANT b Recruiting strategy implementation Recruitment is a set of activities designed to attract a qualified pool of job applicants internal referral Person Job Organization Fit Person Job Fit is the match of individual skills interests and personal characteristics with the job Person Organization Fit is the match of individual values attitudes and behavior with the organizational culture c Candidate selection offer process Selection is choosing who to hire from a pool of qualified job applicants Selection Methods i ii i ii In depth interviewing Technical personality testing Real time or simulated actual work Background checks Assessment centers 2 Developing a Orientation socialization b Training experiences i ASTD Top 10 Training Subjects 1 Managerial 2 Industry Specific 3 Business Practices 4 Compliance 5 Other product quality 6 Information Technology 7 Customer Service 8 Orientation 9 Interpersonal Skill 10 Sales c Coaching mentoring 4 i i Coaching working with a manager to develop personal business competencies in a holistic manner ii Mentoring process of assigning an early career employee to a
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