Chapter 8: To Know

Question 1

Manager must

Answer 1

Develop culture
Encourage innovation
Manage change

Question 2

System of shared beliefs/values guiding behavior (internal)

The way we do things around here

Set of signals of what is considered appropriate v inappropriate (external)

Answer 2

Culture

Question 3

What has a high impact on people leaving their job

Answer 3

Cultural fit

Question 4

Culture is

Answer 4

Personal
Organization
Corporate
Global

Question 5

Financial value & culture
Skill and ability
Cultural fit

Answer 5

Zappos and tony hsieh

Question 6

Example of organizational culture

Answer 6

Augusta National (Ginni Rometty- CEO of IBM)

Question 7

4 elements of corporate culture

Answer 7

Shape attitudes
Reinforce Beliefs
Direct Behavior
Set Expectations

Question 8

Emphasize authority tradition and clear roles

Answer 8

Hierarchical cultures

Question 9

Process efficiency and slow change

Answer 9

Rational cultures

Question 10

Emphasize change, growth, creativity, and competition

Answer 10

Entrepreneurial cultures

Question 11

Emphasize teamwork, collaboration and trust

Answer 11

Team cultures

Question 12

Example of corporate culture

Answer 12

Disney traditions with Mickey

Question 13

What is the major reason why companies run into problems

Answer 13

Lack of cultural due diligence

Question 14

KPMG study mergers and acquisitions

Answer 14

Analysis of 700 deals over 2 years, 83% failed to produce benefit & 50+ destroyed shareholder value

Question 15

With KMPG M&A what were the four reasons only 17% added value?

Answer 15

Bankers
Lawyers
Consultants
Government Officials

Question 16

Examples of Global Culture

Answer 16

Aircraft departures

Rail passengers

Question 17

What we can see

Answer 17

Observed culture

Question 18

What they say

Answer 18

Core culture

Question 19

Values or beliefs about he right ways to behave

Answer 19

Core culture

Question 20

Edgar Scheins (corporate) Levels of Culture and examples

Answer 20

1) visible: above water line - see
ex/ dress, office, symbols, slogans

2) invisible: (below-say)
ex/ expresses values - HP way
ex/ titanic

Question 21

Four components of observable culture

Answer 21

Stories
Heroes
Symbols
Rites & Rituals

Question 22

Heroes

Answer 22

Shared knowledge of hero stories
Establish or represent core values

Ex/ employees, customers, leaders
Ex/Milton hershey and hershey school

Question 23

6 people associated with heroes and their companies

Answer 23

Sam Walton and Walmart 
Ken Frazier and Merck 
Walt Disney and Disney 
Sheryl Sandburg and Facebook 
Indra Nooyi and PepsiCo 
Ursula Burns and Xerox

Question 24

Rites and Rituals and example

Answer 24

Creates connections: people and org
Builds morale and engagement
Shared hands on experiences

Ex/ Nike campus tour

Question 25

Symbols and example

Answer 25

Common understanding of culture Easy to recognize (you and others) Ex/ logos like Tony the Tiger for Kellogg’s and nittany lion for psu

Question 26

Stories and examples

Answer 26

Easily tempered & passed on Instills deeper cultural understanding Ex/ Nordstrom and customer service: guy with suits they didn’t finish Stories of how Harland Sanders led KFC and how Dave Thomas led Wendy’s

Question 27

Where performance and culture intersect

Answer 27

Financial Leadership Culture

Question 28

What do the best companies strive toward and its how you do what

Answer 28

Culture and it’s how u make money

Question 29

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

Answer 29

Innovation

Question 30

Big 3 + 1

Answer 30

Process Product Business Model +1 is Sustainability

Question 31

Largest category of innovation Day to day changes in business Makes us money and saves us cost

Answer 31

Process

Question 32

Lean Principles equals

Answer 32

Reduction of Waste

Question 33

Six Sigma equals

Answer 33

Process Improvement

Question 34

Process example

Answer 34

Vending machines and debit cards or healthier foods inside

Question 35

Product innovation

Answer 35

Something you’ve never seen before (brand new) or product enhancement ( innovate around existing)

Question 36

Examples of Product Innovation

Answer 36

Tile tracker Slam Door/Nesting Doors Drones

Question 37

Benefits and Side Effects to Product Innovations w Drones

Answer 37

``` Benefits: Search and rescue Real estate Hollywood Photography ``` Side Effects: damage property Privacy

Question 38

Business Model

Answer 38

Create, Deliver and Capture Value

Question 39

Business Model Innovation of media, retail, education, music

Answer 39

Decline of Print Online shopping Online classes Physical to digital owning to streaming

Question 40

Business Model example

Answer 40

Nick D’Aloisio: changed text Uber and Travis Kalanick: changed taxis Instagram and Kevin Systron: changed pictures

Question 41

Three problems for Instagram

Answer 41

Beauty Speed Distribution

Question 42

Examples is sustainability

Answer 42

Zero Waste at Toyota/ Subaru | Tom Szaky and TerraCycle

Question 43

Selling your ideas and examples

Answer 43

Commercialization Ex/ Lonnie Johnson and super soaker Post it notes

Question 44

Organizational Protocols Supporting Innovation

Answer 44

Strategy: includes innovation Culture: values innovation Structure & Management: Supports Innovation Staffing: For Creativity Innovation

Question 45

3M corporation example

Answer 45

30% of revenue is new products

Question 46

It is personal and organizational “To make the form, nature, content, future course etc. of (something different from what is is or from what it would be if left alone”

Answer 46

Change defined

Question 47

Change and People

Answer 47

``` Fear of the unknown (#1) Loss of Control (#2) Disrupted habits Loss of confidence Work overload Poor timing Lack of purpose Loss of face ```

Question 48

Fundamental Change Drivers

Answer 48

Opportunity or Threat

Question 49

Elizabeth Kubler Ross (dealing w grief/ change) X & Y axis 6 stages

Answer 49

X- time Y- motivation/ performance ``` Denial Anger Bargain Depression Acceptance Move On ```

Question 50

Ex of Change drivers

Answer 50

Facebook buys Instagram. Automakers and driver less cars Detroit and bankruptcy: taken over by state NCAA: schools in the big 5 leagues took over from NCAA

Question 51

Two types of change

Answer 51

Transformational | Incremental

Question 52

Opportunity/Threat | Can’t keep playing the game the same way and can’t use incremental change

Answer 52

Transformational change

Question 53

Day to Day process improvements

Answer 53

Incremental change

Question 54

What is IBM Corporations main line of business today

Answer 54

Services Provider

Question 55

Burning platform

Answer 55

Associated w transformational change North Sea on a burning oil rig: if you stay it’s certain death and if you jump into the freezing water it’s a probable chance

Question 56

IBM as a burning platform did what

Answer 56

Strategy: downsize Cut costs Casual culture

Question 57

Examples of transformational change

Answer 57

IBM | Hostess

Question 58

Moneyball and Brad Pitt was an example of

Answer 58

People resisting change they didn’t want him to leave

Question 59

Kurt Lewin and Change

Answer 59

Unfreeze Change Refreezing

Question 60

Create a need for change: helping people understand a need for it

Answer 60

Unfreeze

Question 61

Implement and manage the process of change: helping people go through the stages displayed by Elizabeth

Answer 61

Change

Question 62

Stabilize the change and scan for the future: reinforce and make sure people don’t try to go back to old ways

Answer 62

refreezing

Question 63

#1 issue in change

Answer 63

Timing

Question 64

#2 issue in change

Answer 64

Communication

Question 65

Two approaches to change

Answer 65

Change driver | Status quo