E2 flash cards

Question 1

5 things that must align to create value at an appropriate cost

Answer 1

1. Partners
2. Resources
3. Processes
4. Activities
5. Outputs

Question 2

Capture residual value value through which 3 models?

Answer 2

• sharing surplus
• cost model (efficiency, activity level, resources consumed, price paid for resources)
  -Revenue model (price charged, collection policy)

Question 3

Role of CEO

Answer 3

Create vision & mission
Strategic planner
Promote innovation
drive excellence

Question 4

Role of board

Answer 4

Inspirational leadership
Influence externally
Collaboration
Building talent
Business judgement
Execution

Question 5

Digital Operating models (5)

Answer 5

1. Customer Centric - customer lives easier
2. Extra frugal - high quality, low cost
3. Data-powered - analytics, agile
4. Skynet - machines, engineer-led
5. open & liquid - outward focus, sharing culture

Question 6

5 Strategies to build disruptive business models

Answer 6

1. Build - core business, can hire the talent
2. Buy - not core business, can’t hire talent
3. Partner - no strategic need to own, learn from digital natives
4. Invest - start ups connect with established company, doesn’t hinder entrepreneurial
5. Incubate/accelerate - internal resources deployed to help start ups

Question 7

Orchestration vs complexity grid

Answer 7

Tight orchestration & high complexity - Lions pride
Tight orchestration & low complexity - Wolf pack

Loose orchestration & high complexity - Hornets nest
Loose orchestration & low complexity - shark tank

Question 8

Participants in business ecosystems

Answer 8

Role, reach, capability

Question 9

Interactions in business ecosystems

Answer 9

Roles, Connections, Course

Question 10

Emerging tech is creating an environment that is…

Answer 10

connected & open
Simple & intelligent
Fast & scalable

Question 11

Porters 5 forces are

Answer 11

competitive rivalry
threat of new entrants
threat from substitutes
power of buyers
power of suppliers

Question 12

Power definition & 5 sources of

Answer 12

def: capacity to exert influence to make someone act according to your preferences

5 sources: Reward, Coercive, Referent, Expert, Legitimate

Question 13

Authority definition & 3 bases of

Answer 13

def: right to exercise power/exert influence (can be delegated)

3 bases: charismatic, traditional, rational/legal

Question 14

Responsibility definition

Answer 14

Obligation to perform certain duties/tasks/decisions

Question 15

Accountability definition

Answer 15

Justify failure to fulfill responsibilities

Question 16

Empowerment definition

Answer 16

can to do task with out constant direction

Question 17

5 function of management

Answer 17

forecasting & planning
organising
coordinating
commanding
controlling

Question 18

Concept of scientific management

Answer 18

one best approach to the job
money = motivator
well trained = high productivity

Question 19

Concept of Bureautic management

Answer 19

fomalisaition & standardisation
hierarchy & rules

Question 20

Human relations: maslows hierarchy of needs 5 levels

Answer 20

5. self actualisation
6. ego
7. social
8. safety/security
9. basic

Question 21

Herzbergs hygiene/motivating factors

Answer 21

Hygiene - policies, job security, pay, working conditions
Motivators - achievement, advancement, growth, responsibility, recognition

Question 22

5 types of leader

Answer 22

1. charismatic
2. traditional
3. situational
4. appointed
5. functional

Question 23

transactional vs transformational leaders

Answer 23

transactional - a trade with followers
transformational - inspiring & motivating, changes culture

Question 24

Leadership styles (3)

Answer 24

Democratic - work together, productive/satisfying
laissez faire - you sort it, fairly productive
authoritarian - do this now, not productive, frustration

Question 25

Theory X & Y

Answer 25

Theory X - people dislike work Theory Y - enjoy work, self motivated

Question 26

Managerial grid (people vs task): 1.1 1.9 5.5 9.1 9.9

Answer 26

1.1 - impoverished 1.9 - country club 5.5 - middle road 9.1 - task oriented 9.9 - team style

Question 27

Most effective of psychologically distant or close determined by 3 factors:

Answer 27

1. leader/member relations 2. task structure 3. leader position power

Question 28

Adair's action centered leadership: task needs

Answer 28

info seeking diagnosing opinion seeking evaluating decision making

Question 29

Adair's action centered leadership: group needs

Answer 29

communicating team building disciplining encouraging peace keeping standard seeking

Question 30

Adair's action centered leadership: individual needs

Answer 30

Goal setting feedback counselling developing motivating

Question 31

Belbin's Team Roles (9): Coordinator shaper plant monitor-evaluator team worker resource investigator implementer completer-finisher specialist

Answer 31

Coordinator - good chair person, delegates well shaper - promotes activity, thrives with pressure plant - creative, thoughtful, problem solver monitor-evaluator - strategic, judge all options team worker - averts friction, cooperative resource investigator - outgoing, develops contacts implementer - practical & efficient, ideas to action completer-finisher - conscientious, delivers on time, finds errors specialist - knowledgeable, dedicated

Question 32

Disciplinary process (5 steps)

Answer 32

1. informal talk 2. oral talk 3. written warning 4. lay off/suspend 5. demotion/transfer

Question 33

To avoid a tribunal if employee not happy with grievance outcome

Answer 33

Arbitration - independent arbitrator gives legally binding decision Mediation - impartial 3rd party facilitates discussion Conciliation - settle before tribunal

Question 34

3 types of psychological contract

Answer 34

coercive - employees feel forced, rewards inadequate calculative - employee voluntary, in return for rewards Cooperative - contribute more than expected. achieve company goals

Question 35

Diversity vs equality who about? who responsible? action needed?

Answer 35

diversity - for all employees - mangers responsible - no proactive action Equality - for disadvantaged groups - HR responsible - proactive action needed

Question 36

3 levels of culture

Answer 36

artefacts & creations - seen, heard, observed espoused values - indentified from stories basic assumptions - deeply embedded beliefs

Question 37

Intrinsic vs extrinsic rewards

Answer 37

intrinsic - satisfaction of doing job, interest in job Extrinsic - pay, working conditions, benefits

Question 38

4 risks/disadvantages of team working

Answer 38

Conformity - pressure to agree with wrong decision Abilene Paradox - outcome no one wanted Risky shift - more risk decisions made Group think - minimise conflict, not critical of ideas

Question 39

Tuckman's model of team development 5 stages

Answer 39

Forming - unsure of roles Storming - challenge authority Norming - norms for operating established Performing - operating at full capacity Adjourning - make changes to avoid losing efficiency

Question 40

5 aspects of successful teams

Answer 40

1. small 2. limited duration for specific task 3. voluntary membership 4. communication informal 5. action - oriented

Question 41

6 principles of influence

Answer 41

1. reciprocity 2. commitment 3. social proof 4. liking 5. authority 6. scarcity

Question 42

4 ways to manage conflict

Answer 42

stimulation/orchestration - encourage conflict for new ideas suppression - use of authority / avoidance reduction - build on areas of agreement resolution - eliminate root cause

Question 43

conflict mode instrument (assertiveness vs cooperativeness)

Answer 43

not assertive or cooperative = avoiding assertive but not cooperative = competing middle of each = compromising assertive & cooperative = collaborating cooperative but not assertive = accomodating

Question 44

process of negotiation

Answer 44

1. prepare 2. open 3. bargain 4. close

Question 45

6 focuses of PRINCE2

Answer 45

1. start up proj 2. initiation 3. manage stage boundaries 4. controlling a stage 5. managing project delivery 6. project closure

Question 46

Risk management - TARA

Answer 46

low impact & low likelihood = accept low impact & high likelihood = reduce high impact & low likelihood = transfer High impact & high likelihood = avoid

Question 47

PERT formula for expected time

Answer 47

(optimistic time + (4 x probable time) + pessimistic time)/6

Question 48

When is the matrix structure most useful? (5 points)

Answer 48

org consists of series of projs different start & end dates complex expensive customer facing

Question 49

Project triangle

Answer 49

time, cost, quality

Question 50

5 process areas

Answer 50

1. initiating 2. planning 3. executing 4. controlling 5. closing

Question 51

project initiation doc (PID) includes:

Answer 51

purpose statement, scope, deliverables, cost & time estimates, objectives, stakeholders, chain of command

Question 52

to create a digital culture, leaders should focus on 4 factors:

Answer 52

1. communication 2. continuous change management 3. journey management 4. make changes visible

Question 53

Project management body of knowledge (9 focuses)

Answer 53

1. time 2. integration 3. HR 4. scope 5. cost 6. communication 7. risk 8. procurement 9. quality