Exam 4 Flashcards
(86 cards)
1
Q
Only 2 of the Philly region’s top 100
public companies has a female CEO
A
true
2
Q
In 2013, 33 of the top companies in Philly had no
women on the Board of Directors
A
true
3
Q
Today, women make up 25% of Board members of
companies in the region
A
true
4
Q
Women executives in general have made strides.
Today, 19% of senior-level execs at local companies are women compared to 16% a year ago
A
true
5
Q
The United Nations warns that young women across the
globe have less access to education, technology and
resources like the internet, and so they are falling behind
boys in gaining employable skills, especially in STEM
A
true
6
Q
Women make up only 29% of the global
science and engineering workforce
A
true
7
Q
In the workplace, women have it…
A
tougher than men
8
Q
Only 7% of Fortune 500 CEOs are women
Only 21% of senior roles in US companies are women
Women of color occupy only 12% of managerial roles
A
true
9
Q
In the workforce, women are paid…
A
LESS than men for the same work
10
Q
A 2016 study that analyzed the salaries of
10,241 doctors at public medical schools in the
U.S. found that male doctors were paid almost
$20,000 more than female doctors annually
A
true
11
Q
Women working in low-wage occupations like
child care, fast food or home health care also
make less than the men they work beside –
typically only 85 cents to a man’s dollar.
A
true
12
Q
Women often don’t get what they want or deserve
because they don’t ask for it
Men are more likely than women to negotiate for
what they want
A
true
13
Q
Most of the women simply accepted the employer’s initial
salary offer
Only 7 percent of the women even attempted to negotiate
57 percent of male counterparts asked for more money
A
t
14
Q
Some companies’ cultures tend to penalize
women when they do ask for what they want
Women who ask for what they want may be
labeled a “bitch” or pushy
Their work becomes devalued and they are left
out of important discussions
A
t
15
Q
As a result, women in business often watch their
male counterparts receive better assignments,
get promoted more quickly and earn more money
Women become disenchanted and when a better
offer comes along, rather than using it as a
negotiating tool, women may take it and quit
A
t
16
Q
Generally speaking, women are
raised differently than men…
A
true
Women are socialized from an early age not to
promote their own interests and to focus instead
on the needs of others
Women tend to assume they will
be recognized and rewarded for
working hard and doing a good job
Unlike boys, girls haven’t been
taught they can ask for more
17
Q
While men will use the pronouns “I” or “My” or “Me”, women will…
A
women will use the pronouns “we”, “our”, “us”
18
Q
Confidence and Boasting …
A
Men are better at this than women
Women are more likely to downplay
their certainty about something
Men are more likely to minimize
their doubts
19
Q
Negotiating authority
A
Men more often behave in ways that are likely to get
them recognized, especially in dealing with superiors
As children, boys learn they are rewarded if they talk
up their achievements
Girls learn they are rewarded if they play down their
achievements
20
Q
sheryl sandberg says…
A
“A truly equal world would be one where
women ran half our countries and companies
and men ran half our homes.”
21
Q
Emma Stone recently revealed that some of
her male co-stars have taken salary cuts in the past so that she could achieve equal pay
A
true
22
Q
when in a business negotiation, ALWAYS..
A
Speak up! Lean In!
Always ask for what you believe you are worth
Be confident in yourself! If you don’t believe in you, how
can you expect others to believe in you?
Don’t be shy about taking credit for your achievements –
you earned it!
Learn how to manage upward … and downward
Use a job offer from another company as leverage with
your present company
23
Q
Scandals related to unethical behavior was the leading cause of leadership firings among the world’s 2,500 largest public companies
A
t
24
Q
39% of CEO firings were because of unethical behavior
35% were due to financial performance
13% result of conflicts with the company’s Board
A
t
25
CEOs were fired because of...
unethical behavior such as fraud,
bribery, insider trading, environmental disasters, inflated resumes
and sexual indiscretions
26
Steve Wynn, CEO, Wynn Resort was...
Forced to step down as Chairman and CEO after
multiple reports of sexual assault allegations emerged
27
Jonathan Bush, CEO, Athena Health was...
Forced to resign amid sexual misconduct allegations
28
Why are so
many CEOs
being fired for
ethical
misconduct?
1. More aggressive intervention by regulatory
and law enforcement authorities
2. The increasing propensity of Boards of
Directors to adopt a zero-tolerance stance
toward executive misconduct
3. New pressures for accountability about
sexual harassment and sexual assault brought
about by the rise of the #MeToo movement
29
Sexual harassment is not new – it has occurred throughout
history. But because of the #MeToo movement, sexual
harassment has become less hidden than it used to be.
t
30
81 percent of women and 43 percent of men have
experienced some form of sexual harassment during their
lifetime
t
31
What Is Sexual Harassment?
according to Title VII, Civil Rights Act of 1964
“Unwelcome sexual advances, requests for sexual favors, and other
verbal or physical conduct of a sexual nature constitutes sexual
harassment when submission to or rejection of this conduct explicitly or
implicitly affects an individual's employment, unreasonably interferes with
an individual's work performance or creates an intimidating, hostile or
offensive work environment.”
32
Sexual harassment can occur in a variety of circumstances, including
but not limited to the following:
* The victim as well as the harasser may be a woman or a man.
The victim does not have to be of the opposite sex.
* The harasser can be the victim's supervisor, a supervisor in
another department, or a co-worker
* The victim does not have to be the person harassed
but could be anyone affected by the offensive
conduct
* The harasser's conduct must be unwelcome
33
Quid Pro Quo
“This for that” – Raise or promotion in return for sexual favors
34
Hostile Work Environment
Photos, jokes, gestures that make someone
uncomfortable
What matters is not the “intention”of the harasser but
the “reaction” of the victim
The yardstick to measure: “reasonable person”
How would a “reasonable” person react?
35
Profile of a
Sexual Harasser
Psychologists have studied men who
harass or assault women. In many cases,
it’s about power.
Some men find having power over
women a turn-on
They feel anger when rejected by women
They are often narcissists – self-centered, feelings of superiority, unusually strong drive for personal power and glory
36
Sexual harasser
They have inflated views of themselves, fantasize about being in
control of everything, and like to attract the admiration of others – it’s
not surprising that narcissists tend to emerge as leaders
Men who sexually harass or assault women often prefer sex without
intimacy, which leads them to seek promiscuous sex or multiple
partners
Often, but not always, this type of person
has had a difficult home environment as
a child characterized by abuse or violence,
or has had anti-social tendencies as a
teenager
37
Preventing Sexual harassment
* Do not suggest or tolerate sexual favors for rewards related to work or promotion
* Do not engage in uninvited touching, patting or hugging of others’ bodies
* Do not make or tolerate sexually suggestive jokes, demeaning remarks, slurs or obscene gestures or sounds
* Do not display or accept sexual pictures in your workplace or write notes of a sexual nature
* Do not laugh at others’ sexual harassing words or behaviors
38
How to Handle Sexual Harassment
* Someone from work asks you out but you are not interested
“No, thanks. I always try to keep my personal life separate from my
professional life.”
* A client or customer makes an inappropriate remark
”Please, I would prefer that you not talk that way.”
* You’re drinking after work with a co-worker and he/she makes an
inappropriate advance
“Stop it, I’m not interested. I always keep my personal life separate
from my professional life.”
39
When you take a job someday in the business world,
chances are you won’t be working alone -- you’ll be
working with others in situations that require...
teamwork.
40
Today’s workers spend more than 50% of their
time working in teams
t
41
All companies are looking for people who have the ability to work effectively in teams
Being able to work on a team will increase your chances of getting a great job at a great company
t
42
Why teamwork is so important
* increased productivity
* Increased speed to market
* Reduced costs
* improved quality
* Reduced destructive internal competition
* improved workplace cohesiveness
43
types of teams
* Project Teams: Assembled to solve a particular problem or complete a specific task such as finding ways to reduce costs
* Cross-Functional Teams: Include members from different areas within an organization, such as Finance, Operations, Sales and Marketing; final outcomes (improved sales, less waste) are shared with each of the functional areas
* Self-Managed Teams: Groups of workers, particularly in manufacturing, who are given the freedom to improve their job processes without a lot of oversight
* Virtual Teams: Work together over time and distance via electronic media to combine efforts and achieve common goals
44
Tuckman's stages of group development
1. Forming: Process of getting oriented and getting acquainted
2. Storming: Characterized by the emergence of individual personalities and roles and conflicts within the group
3. Norming: Conflicts are resolved, close relationships develop, and unity and harmony emerge
4. Performing: Members concentrate on solving problems and completing the assigned tasks
5. Adjourning: Members prepare to close out the team
45
What kind of people do I want on the team?
Smart
Reliable
Good with numbers
Collaborator (team player)
Someone I can trust
Someone who is motivated to
succeed
Someone who is committed to
working the right way
46
Only 27% of teams perform optimally
t
47
How Does Conflict Happen?
* “I don’t agree with what we’re trying to do – it doesn’t make sense to me” (poor communications)
* “I don’t like some of the people on the team – I don’t want to work with them” (attitude problem)
* “I don’t like the team leader – he has a huge ego” (you don’t have to like people but you should respect
them and/or the title)
* “I think I have the best ideas – these other people are dopes” (arrogance)
* “We’re spending too much time talking and not enough time making decisions – I’m frustrated” (lack of patience)
* “I have more important work to do -- this team is taking up too much of my time” (selfish)
* “I better get promoted when this project is completed” (unrealistic expectations)
48
Five styles to handle conflict
* Avoiding. Ignoring or suppressing a conflict: “Maybe
the problem will go away.” Usually ineffective.
* Obliging. Allows the desires of the other party to
prevail: “OK, let’s do it your way.” But what if the
“other way” is really not the best idea?
* Dominating. Ordering an outcome, using formal
authority and power to resolve a conflict: “I’m the
team leader -- you have to do it my way.” When one
person dominates, it’s usually not a good idea.
* Compromising. Both parties give up something to gain something: “Let’s split the difference.” Sometimes can work but decisions and solutions may not be robust.
* Integrating or Collaboration. Team strives to confront the issue and cooperatively identify the problem and seek a solution. “Let’s reach a win-win solution that benefits all of us and our mission and the company.”
49
Why should I be a good teammate?
Because your company needs you to do a good job
Because you will learn a lot and add more value to your company
Because the experience you gain will help you get a
better job someday
Because no one likes or respects someone who is not a good teammate
Be a good teammate and do a good job – it’s what you’re getting paid for!
50
How To Behave In a Crisis
* Stay calm
* Be visible
* Put people before the business
* Tell the truth
* Know when to get
back to business
51
Three Categories of Crisis
* Customer Service Issues
* Failures of Competence
* Events That Are No One’s Fault
52
Failure of
Competence
* Faulty airbags explode, send
engine parts into the face and
body of both the driver and
front seat passenger
* Takata had been aware of
the problem but didn’t correct it
* 16 deaths, hundreds injured,
40 million vehicles recalled
* Largest automotive industry recall in history
* Takata pays $1 billion to resolve the investigation,
$25 million fine, $125 million for victim
compensation, $850 million to auto companies
53
J&J's Tylenol Extra Strength
* Tylenol was one of the first aspirin substitutes
* By 1982, Tylenol had 35.3% of the $1.2 billion
pain reliever market -- more than the combined
sales of Bayer, Bufferin and Anacin
* In 1979, Tylenol broke the 18-year dominance
of Crest toothpaste to become the largest
selling health and beauty aid in America
* Tylenol represented 8% of J & J’s sales, but
17% of its profits
54
October 1982: Seven Chicago
consumers died after ingesting
Tylenol Extra Strength capsules
that had been laced with cyanide
true
55
J&J’s Immediate Response
CEO goes on national TV:
“We’re sorry”
“We don’t know how this happened”
“We’re working with authorities to investigate and
we will keep you updated as often as we can"
56
J&J’s Recovery Plan
Phase I: Figure out what happened
Phase 2: Assess and contain damage
Phase 3: Get Tylenol back on the market
Protect consumers and patients at all times
57
J&J’s Response
93,000 bottles of Tylenol in the Chicago area were recalled from shelves immediately
Internal manufacturing investigation was launched in cities that manufactured the pills
-- Fort Washington, Pennsylvania
-- Round Rock, Texas
CEO James Burke went to Washington to meet with the FDA and FBI
Burke urged a total recall of Tylenol ... he was telling the government to recall his own product ... because it was the right thing to do!
Within a week, all 31 million bottles of Tylenol on the market were recalled
First national recall of any product ever!
58
Immediate Impact on J&J
J&J Stock dropped 7 points
Recall cost nearly $200 million
J&J’s share of pain reliever market dropped
from 35.3% to below 7%
Experts said: “Tylenol as a brand is dead.”
59
By May 1983 -- seven months after the murders -- Tylenol had regained all of its market share (35%)
true
60
What the Experts Said About How J&J Handled the Crisis
J&J was honest
Consumers and patients were top priorities
Took quick corrective action
Maintained open communication channels
Kept faith in the product
Protected the company’s image
Aggressively brought back the brand
61
One year after the poisonings, CEO
James Burke called the Tylenol
scare...
“the single most important positive thing that has ever happened to the corporation.”
62
What Is the Philly Soda Tax?
A strategy by the City of Philadelphia to generate tax
revenue from sugary drinks in order to help fund
community schools, pre-kindergarten programs,
recreation centers, libraries, parks and some social
service programs
63
Philadelphia is the 1st major US city to pass a tax on soda.
Seattle, DC, Oakland, San Francisco, Berkeley, Albany, Boulder (Colorado) and Cook County in Chicago have now also levied soda taxes.
t
64
An excise tax is...
an indirect tax on the sale of a particular
good or service such as fuel, tobacco and alcohol
65
Indirect means the tax is...
not directly paid by an individual consumer — instead, the government levies the tax on the
merchant, who passes it onto the consumer by including it in the product's price
66
Who Is Driving the Soda Tax Initiative?
Philadelphia Mayor Jim Kenney, with support
from City Council, local legislators and educators
67
"We’re going to help people get healthier and help
fund important city services like schools at the
same time.”
-- Mayor Kenney
68
The business community responded by saying the soda tax...
would hurt the local economy as well as many people in the city, especially poor people
69
Want To Be a Good Listener?
Show some empathy
70
Who Is Benefitting From the Soda Tax?
The City of Philadelphia has collected
$409 million in tax revenue so far, which has
helped fund community schools, pre-kindergarten programs, recreation centers, libraries and parks
More people are drinking water – water sales in the City are up 13%
Suburban business owners say sales of sugary drinks are up 36%
71
The Mayor brought in a Third Party -- nutrition experts -- to explain why sugary drinks are not good for people, especially young children – it leads to diabetes
t
72
The soda tax was a contentious issue in the run-up
to Mayor Kenney’s bid for reelection in 2019, but...
Mayor Kenney was re-elected with 80% of the vote!
73
The United States accounts for
about 5% of the global population
Americans consume about 80%
of the global supply of prescription
opioids
t
74
What Are Opioids?
* Natural opioids include morphine and codeine
* Semi-synthetic opioids include oxycodone, hydrocodone, hydromorphone and oxymorphone
* Methadone is a synthetic opioid is usually categorized on its own in official data
* Synthetic opioids other than methadone include tramadol and fentanyl
* Heroin is an illegally manufactured synthetic opioid made from morphine
75
Fentanyl is the deadliest of all opioids. It is widely available,
and often used to supplement other types of opioids.
More than 40,000 people overdose on
fentanyl every year
t
76
More than 11 million people
abuse prescription opioids every year
t
77
The opioid crisis is ...
* A societal tragedy
* A community tragedy
* An American tragedy
78
In Business, What Is Control?
“Controlling” is defined as monitoring performance,
comparing it with goals and taking corrective action
as needed
79
All companies are looking for ways to get better
t;
Pharma companies measure how much time, money and effort it takes to bring a drug to market
What steps in the R&D process can be shortened?
How can the cost of R&D be reduced without sacrificing quality or safety?
80
All companies closely monitor how much revenue they generate each quarter
Is the revenue enough to operate our business and still make a reasonable profit? How can we generate more revenue?
t
81
All companies closely track their spending
How much money did we spend last quarter? Are we spending more than we are making? Are we spending money on the right things?
t
82
Why Are Controls Needed in Business?
* Controls help companies adapt to change and
uncertainty
* To discover irregularities and errors
* To reduce costs, increase productivity or add value
* To detect opportunities and increase innovation
* To provide performance feedback
83
Balanced Scoreboard
Gives managers a quick but comprehensive view of
how the organization is performing through four
indicators:
* Financial Measures
* Customer Satisfaction
* Internal Processes
* Innovation and Improvement Activities
84
Six Ways That Companies Waste
Time, Money and Effort
1. defects in manufacturing
2. too much inventory
3. over-processing
4. wasted time
5. inefficient transportation
6. over-production
85
Total Quality Management
A comprehensive approach—led by top
management and supported throughout the
organization—dedicated to continuous quality
improvement, training and customer satisfaction
86
Deming on Management
1. Quality should be aimed at the needs of the consumer
2. Companies should aim at improving the system, not blaming workers
3. Improved quality leads to increased market share, increased company prospects and increased employment
4. Quality can be improved on the basis of hard data, using the P-D-C-A (Plan-Do-Check-Act) cycle
