Chapter 4

Question 1

‘that set of beliefs, customs, practices, and ways of thinking that they come to share with each other through being and working together.’ (Stacey, 1996).

Answer 1

Culture

Question 2

is the collection of values, expectations, and practices that guide and inform the actions of all team members.

Answer 2

Organizational Culture

Question 3

is an organization’s values, ethics, vision, behaviors and work environment. It is what makes each company unique, and it impacts everything from public image to employee engagement and retention.

Answer 3

Corporate Culture

Question 4

If employees share a company’s ethics, vision and other cultural elements, it can positively affect a company’s bottom line. Companies with_______________ often have high workplace morale, and highly engaged, productive staff.

Answer 4

good corporate culture

Question 5

Employee motivation.
Recruitment.
Employee morale.
Productivity and efficiency.
Quality of product/service.
Industrial relations.
Innovation and creativity.

Answer 5

The importance of culture

Question 6

SomeExamplesofCompanyCulture

Answer 6

Netflix
Twitter
Google

Question 7

The common-sense approach to work allows them to have one of the highest standards set for their employees in the business world.

Answer 7

Netflix

Question 8

They opts for increases in employee responsibility and freedom.
They don’t worry about how many hours someone works, but the accomplishments that come from those hours.

Answer 8

Netflix

Question 9

They also understands that new hires are investments.
As such, it’s important to reward high performers and eliminate low performers through company culture.

Answer 9

Netflix

Question 10

is the true definition of a team-orientated environment that employees rave about. The employees enjoy health and fitness classes, rooftop meetings, and continued education through ____________

Answer 10

Twitter

Question 11

The friendly environment also allows for feedback at all levels of management through designated meetings.

Answer 11

Twitter

Question 12

the perks and benefits begin with free meals, employee social gatherings, financial bonuses and open presentations by high-level executives.

Answer 12

Google

Question 13

Other admirable quirks include gyms, a dog-friendly environment, and parks.

Employees are thought to be driven, talented and among the cream of the crop.

Answer 13

Google

Question 14

a large US management consultancy, produced 7-S framework for understanding organizations.

Answer 14

McKinsey

Question 15

is a tool that describes a global picture of a company or business, according to

Answer 15

7 Elements

Question 16

This global picturecan be used fordifferent purposes:

Answer 16

-tracking the evolution of the company over time
-better organize the actions to be taken
-define appropriate strategies, where they are most needed

Question 17

The 7s

Answer 17

-strategy
-structure
-staff
-style
-skills
-systems
-shared values

Question 18

what the organization does to achieve its goals?

Answer 18

strategy

Question 19

How the firm is organized.
What type is their organizational structure?
How’s the physical aspect (building/facilities etc.)

Answer 19

structure

Question 20

How talent is managed and valued?
How people relate to each other?

Answer 20

staff

Question 21

what is the culture of the organization?
Its character or personality: Friendly, cold, passive
How is the leadership style?

Answer 21

style

Question 22

How people work together.
Whatjob skillsare valued the most?

Answer 22

skills

Question 23

WhatResourcesdoes a Company have.
Facilities, Financial resources, Processes, etc.

Answer 23

systems

Question 24

What are theValues associatedwith the Company?
Their Reputation: what outsiders think of them.

Answer 24

shared values

Question 25

McKinsey 7s elements are classified into 2 groups:

Answer 25

-hard elements (strategy, structure, systems) -soft elements (skills, shared values, staff, style)

Question 26

They are called ______ because their performance can be objectively evaluated with technical parameters.

Answer 26

Hard Elements

Question 27

For example: You can objectively measure whether one Strategy is better than another.

Answer 27

If you achieve your Goals faster, if your profitability is higher, etc.

Question 28

For example: You can objectively measure if your Systems (Resources) are better than others:

Answer 28

If your results are better, if you have less waste (in a manufacturing process), if you get your results faster, etc.

Question 29

These Elements cannot be measured objectively. Or it is very difficult and highly subjective.

Answer 29

Soft Elements

Question 30

 For example: How can you measure the “management” philosophy of a company?

Answer 30

If a friendly approach is better than a “tougher” one… It would depend entirely on the employee.

Question 31

How can you measure the “talent or skills that should be valued the most”?

Answer 31

You would need 2 identical companies, with identical employees to compare the results.

Question 32

How can you objectively measure the performance of the “Style”?

Answer 32

You can’t change the Style of a company from one day to the next and compare the results.

Question 33

Why is this important?

Answer 33

-You can learn how other companies achieve their goals in such an efficient way. -It can help you decide which company to invest in. -It can help you “imitate” some aspects of larger, more profitable companies, etc.