Problem Areas Flashcards by Lauren Tracey

What is included in the cultural web?

Stories
Symbols
Power Structure
Organisational Structure
Control Systems
Routines & Rituals
Organisational Paradigm

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What is included in stories in the cultural web?

Leadership style
Characters
How things used to be

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What is included in symbols in the cultural web?

Reserved parking
Back door for staff
Dress code

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What is included in power structure in the cultural web?

Chief officer
Committees
Elected Members

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What is included in organisational culture in the cultural web?

Functional
Hierarchial
Autocratic

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What is included in control systems in the cultural web?

Budgetary
Service plan
Complaints

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What is included in routines and rituals in the cultural web?

Committees
Formal Induction
Blame Someone

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What is included in organisational paradigm in the cultural web?

Good service
Professional standing

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What is seen as ‘hard’ in McKinsey’s 7S’?

Tangible and easy to quantify

Structure
Strategy
System: daily activies

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What is seen as ‘soft’ in McKinsey’s 7S’?

Less easily quantified and more subjective

Skills
Style: Style of leadership
Staff
Shared values: Core values

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What did Beer and Nohria identify?

A proportion of all businesses change initiatives fail

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What is Theory E?

Shareholders value is main concern.
Change involves incentives layoffs, downsizing and restructure

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What is Theory O?

‘Softer’ approach involving cultural adjustments or enhancing employee capabilities. Requires employee involvement in change process

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What is differentiation?

Creating a customer perception that product is superior so we can charge a premium

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What are the four types of change?

Evoluton
Adaptation
Revolution
Reconstruction

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What is evolution?

Transformational change implemented gradually through inter related activities

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What is adaptation?

Change undertaken to realign the way in which businesses operates. Implemented in a series of steps.

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What is revolution?

Transformation change that occurs via simutaneous initiatives of many fronts. More likely to be forced and reactive

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What is reconstruction?

Change to realign way in which organisation operates with many initatives implemented simultaneously

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What is Payne’s six markets?

Customer
Referral
Supplier
Recruitment
Influence
Internal

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What is supplier market?

Partnership with supplier.
Supermarket set up JIT system with supplier.

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What is influence market?

Used to be called public relations

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What is internal market?

Concept of internal quality management.
Every department has a customer provider relationship with others.

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What is included in Porter’s diamond?

Demand Conditions
Related & Supporting Industries
Factor Conditions
Strategy, Structure & Rivalry

What is demand conditions?

Sophisticated home demand can lead to competitive developing significant advantage in a global market

What is related & supporting industry in Porter's diamond?

Advantage conveyed by availability of superior supplier market

What is Factor conditions in Porter's diamond?

Supply of production factors that conveys advantage

What is strategy, structure & rivalry in Porter's diamond?

Different nations have different approaches to business in terms of structure and intensity of rivals

What are the four types of competitors?

Brand Competitor Industry Competitor Form Competitor Generic Competitor

What is a brand competitor?

Sell similar products to same customer we serve e.g. pepsi and coke

What is an industry competitor?

Sell similar products but in different segments e.g. BA and EasyJet

What is form competitors?

Sell products that satisfy the needs as ours though technically very different e.g. speedboat and sports car

What is a generic competitor?

Compete for same income e.g. home improvements and golf clubs

What are the three building blocks?

Dimensions Standards Rewards

What is the dimensions building block?

Profit, competitiveness, Quality, Report utilisation, innovation, flexibility. Goals of the business and suitable measures must be developed to measure each performance dimension

What is the standards building block?

Ownership, availability, Equity

What is the rewards building block?

Clarity, Motivation, Controllability

What is an example of financial perspective?

Increased revenue Rising market share Increased cash flow

What is an example of internal business perspective?

Reduction in production time Reduction in errors Reduced wastage

What is an example of customer perspective?

Increase in new customers Increase of customers returning Rise in positive feedback

What is an example of learning & growth?

Number of days staff training, Number of new products

What is the downside of stretch targets?

Employees will see it as unachievable and be demotivated Stretch targets may encourage unethical behaviour

What are the four types of strategy to manage decline?

Retrenchment Turnaround Divestment Liquidation

What is retrenchment?

Doing same as before but cutting costs

What is turnaround?

Organisation repositions itself with the market for competitive advantage

What is divestment?

Involves external sale of part of the organisation

What is liquidation?

Organisation sold to one or more buyers. Last resort.

What is EVA?

Economic value added Estimate of true economic profit after making adjustments to GAAP accounting Profit less charge for capital employed

What is SVA?

Shareholder value added Main aim is to add value to customer wealth SV calculates as PV of future free cash flows of business

What does SLOWCAT stand for in terms of SVA?

Sales growth rate Life of project Operating profit margin Working capital Cost of capital Asset investment Taxation

What are the four ways to resolve conflict according to Cyert & March?

Satisficing Sequential attention Side payments Exercise of power

What is satisficing?

Negotiating with key stakeholders to arrive at a compromise

What is sequential attention?

Management focus on stakeholder needs in turn

What is side payments?

Stakeholders objectives can't be met so they are compensated in some other way

What is exercise of power?

Deadlock resolved by senior figure forcing through a decision

What is the downside of scenario planning?

Costly and inaccurate Tendency for cultural distortion Risk of self fulfilling prophecy Many scenarios will not actually occur

What is the upside of scenario planning?

Focuses management on future Encourages creative thinking Encourages communication Can identify sources of uncertainty Can be used to justify a decision

What are Irvine & Martins 5Cs?

Communication Consensus Commitment Concentration Coordination