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IDIS 433 > Exam One > Flashcards

Exam One Flashcards

(78 cards)

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1
Q

What is leadership

A

Ability to influence and guide followers or members of an organization, society or team

  • Often tied to persons title or ranking
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2
Q

Why is leadership needed

A
  • Improves communication
  • Creates better work environment
  • Improves productivity
  • Increases Efficiency
  • Decreases Mistakes
  • Motivates Employees
  • Sets a good example for others
  • Creates a strong vision and direction for the future
  • Helps to keep employees on track
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3
Q

Leaders & Communication

A

Leaders foster communivation and create an environment where everyone feels comfortable sharing ideas. This encourages a work culture where new ideas are welcome and misunderstandings are avoided

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4
Q

How do leaders create better work environment

A

Creating an atmosphere of trust and respect fosters creativity and collaboration. In turn the moral is higher in workplaces leading to better workplace relationships

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5
Q

How do leaders increase productivity and efficiency

A

Ensures everyone works towards the same goal, they provide guidance and direction while delegating tasks

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6
Q

Leaders decrease mistakes

A

Leaders want to minimize mistakes. It is especially important in high-pressure environments where mistakes can have serious consequences

Leaders need to be able to identify potential problems early and quickly resolve them

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7
Q

Leader Motivates Employees

A

Good leaders understand the different strategies and not all of them work for everyone.

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8
Q

Leaders set good examples

A

People are more likely to follow someone they see as a role model

  • By showing the values and goals of their team, they can show others what it means to be a committed and successful member
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9
Q

Create a Strong vision for the future

A

A successful leader understands the importance of having a solid vision and how to create one that will guide their organization toward a bright future

  • Without clear vision, maintaining momentum or progressing toward long-term goals can be challenging
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10
Q

How do leaders keep employees on track

A

By clearly communicating the companies vision and objectives as progress is made and changes occur, then providing the necessary support and resources for success

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11
Q

People Manager Tasks

A

Recruitment
Coaching
Leading
Management
Motivation

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12
Q

Customer manager tasks

A

Account plans
Key relationships
Complex sales
Opportunities
Assist sales process

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13
Q

Company –> Field tasks

A

Resources
Company functions
Strategy to local needs
Company Culture and Policies
Administration and Logistics

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14
Q

Field –> Company

A

Market Info
Field Performance and activities
Strategy to local needs
Administration and Logistics

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15
Q

Manager

A

Reacts to what has just happened

Focus on short term issues, putting out fires on a daily basis

Uses one-way communication to explain policies/procedures

Do things right

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16
Q

Leader

A

Takes proactive steps to avoid future problems

Builds a team that works together toward a long-term vision

Listen/respond to concerns using two-way communication

Do the right thing

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17
Q

Transactional Leaders

A

Focus on goals

Use rewards and punishments for motivation

Are reactive in nature

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18
Q

Transformational Leaders

A

Focus on vision

Use charisma and enthusiasm for motivation

Are proactive in nature

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19
Q

Truths about leadership

A

You manage THINGS, you lead PEOPLE

Having position of leadership does not mean you are the leader

You are not really the leader until the group leading says so

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20
Q

Building Influence as a Leader

A

By meeting peoples legitimate needs

Through service and sacrifice

By developing trust

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21
Q

What do people expect from leaders

A

Honesty
Feel appreciated and respected
Competence
Forward-looking
Inspiring
Feel they are accomplishing something worthwhile
Understand the contributions they are making
Feel like they are “in” on things
Patience

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22
Q

Purpose of a Team

A

Make strengths of each person effective and his/her weaknesses irrelevant

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23
Q

Oral effective communication

A

Listen actively
Speak clearly
Show empathy
Use Non-verbal cues
Practice active listening

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24
Q

Good business writing should have:

A

It’s simple
Specific
Surprising
Stirring
Seductive
Smart
Social
Story-driven

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25
Problems are
Opportunities to improve a system
26
Problems typically
Do not have an immediate obvious resolution
26
Additional major business problem causes
Machines Measurements Money Politics Environment Culture/values Technology limits
26
Business problem causes
Physical - material items failed Human - People did something wrong or did not do something needed Organizational: System, process, or policy is faulty
27
Team meetings
Process that shows team's real culture
27
Problem Solving Steps
Specify the problem Analyze the causes Develop potential solutions Select Solutions Establish goals Develop action plan. Implement, and follow-up
28
Pareto Charting Uses
Analyze data about the frequency of problems Analyze data about causes in a process When there are many problems or causes, and they want to focus on the most significant
29
Meeting roles
Leader Team member (participants) Recorder Timekeeper
30
Goal conflict
each party's goals threaten the goals of the other
31
Judgement Conflict
Agree on goal but not on how to attain it
32
Values Conflict
One party evaluates the other on the basis of how they behave or what they believe
33
Power conflict
Each party feels they are correct, and it is disadvantageous to share the power
34
Conflict management styles
Accommodate Compete Avoid Compromise Collaborate
35
Sales Creativity
Number of new ideas generated, and novel behaviors exhibited by the salesperson in performing their job
36
EI
Emotional Intelligence Needed to be creative in sales
37
Which strategy or conflict resolution is the "best"
Collaboration Both relationship importance and Goal importance see an improvement
38
Process Steps to Successful Collaboration
1. Manage Feelings 2. Create a supportive climate 3. Describe the conflict 4. Understand goals 5. Create solutions
39
Sales team function
most efficiently when members share a common understanding of each other's roles and responsibilities
40
Why have a sales structure
Organize is to provide organization with structure... a mode of operation... is to submit a method, a determined way of selling Better evaluate, control and coordinate sales activities Increase sales force's effectiveness in achieving objectives, both individually and collectively
41
What do you need to know for a successful business strategy
Where you want to go How to get there
42
How do you get to a successful business strategic plan
Activities and people must be organized accordingly Coordinate effectively
43
Objectives for sales structure
Execute marketing plan and sales strategy Management control and monitoring mechanism
44
Content of Sales Structure
- Configuration - Sales process - Distribution network - Customer hierarchy-Segmentation - Sales territories and sales cycle - Description of the salesperson's responsibilities - Management mode and the role of the sales manager - Territories and the management cycle
45
Roles and Responsibilities of salespeople
Creating value for customers Managing Relationships Relaying information Providing information Handling Transactions Resolving issues
46
Creating Value for Customers
Salespeople help customers find the right products or services that meet their needs, adding value to their purchasing experience
47
Managing relationships (salesforce)
Build and maintain strong customer relationships, ensuring long-term satisfaction and loyalty
48
Relaying information
Salespeople act as a bridge between the company and its customers, providing valuable feedback and market insights to their organizations
49
Salespeople & Handling Transactions
Salespeople process sales transactions, manage inventory and ensure customers receive their purchases promptly
49
Salespeople providing information
They inform customers about product features, benefits, and pricing, helping them make informed decisions
49
How do salespeople resolve issues
They address customer complaints and issues, escalating them to management when neccessary
50
Growing Number of sales
Rev = num of sales * size of avg sales - Increasing number of leads-aggressive outreach - Reducing attrition through sales process - Increasing speed - Understanding an industry and its players
51
Growing average size of sale
- Ensuring utilization of sold products with customization and customer service - Improving client retention through detailed, relationship-building - Selling add-on services and products existing clients based on their needs
52
Advantages of specialized teams
Salespeople capitalize on different skills and focus on core competencies - Recruitment is straightforward: personality traits variation - Incentives and track metrics
53
Disadvantages to specialized teams
- Hierarchy - Client may feel abandoned - Knowledge may be lost/misunderstandings
54
Advantages to Hybrid Role
- Strong long-term relationship management - Bond with clients based on trust - Customized incentives
55
Disadvantages to Hybrid Role
- Few agents can perform both functions - Conflicting responsibilities - Complex incentives
56
Independent Sales Agents
Same as Manufactures Rep, paid on commission basis to represent the service or product in a specific region. Serve as a company's outside sales, marketing and customer service - Cash flow improvement - Payment after sale - Selling expense as a variable cost
57
Sales territory
designated set of current and prospective customers, grouped within geographic boundaries for a given period of time, with an established level of specialization" Number list of customers assigned to a salesperson
58
Objectives of sales territory
- Ensure optimum coverage of potential market - Improve customer relations - Improve sales morale and efficiency - Facilitate sales force monitoring and evaluation - Reduce sales costs - Optimize marketing activities
59
Criteria of an ideal territory
- Regular and efficient sales service within any area defined for coverage - Clear definition of customer assignment and territorial lines - Balance within and between territories of travel, active account, and potential account service - Method for determining the number of salesman that would maximize the sales department profit contribution - A basis for evaluation of the salesmen, which could become the foundation for a sound salesmen's-compensation program.
60
Metrics
Number or quantity that records a directly observable value or performance - all have units
61
Leading indicator
define the actions necessary to achieve your goals with measurable outcomes
62
Lagging indicator
Measures current production and performance
63
Attribution theory
Explains how salespeople make sense of their actions and goals The way people explain the causes of behaviors and events How employees will connect he lead indicators with lag indicators
64
SMART
Specific Measurable Achievable Relevant Timed
65
Examples of Quantitative goals
Sales volume Profitability of sales Number of new customers Number of orders
66
Examples of Qualitative goals
Initiative Attitude Autonomy Judgement
67
How do companies forecast?
Survey methods Mathematical methods
68
Executive opinion (survey method)
'nose of managers' Fast and easy - not necessarily reliable
69
Delphi technique (survey method)
- Small group of experts, each making their own forecasts and assumptions - A company expert analyzes the results - Back to the drawing board... until consensus is reached
70
Sales team consolation -- classification ABCD (survey method)
Salespeople's "clue" Those closest to the market Can be too optimistic/pessimistic
71
Averaging technique (mathematical technique)
Sales from several previous periods are used to project the future Easy calculations and accurate forecasts for products with a stable sales history Less accurate in the event of changes in the environment or for new products
72
Correction model
Considers past cycles, assigning more or less weight to certain periods -- seasonal interventions
73
Regression analysis
Several complex mathematical methods used to make projections into the future

IDIS 433 (1 decks)

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