Download IOE 421 Final Exam Solutions: Ethics, Entrepreneurship, and Leadership and more Exams Business Statistics in PDF only on Docsity!
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IOE 421 FINAL EXAM 99 complete
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Ethics - ANSWER-A system of moral principles governing the appropriate conduct of an individual or group Managerial Ethics - ANSWER-Principles that guide the decisions and behaviors of managers with regard to whether they are right or wrong from a moral perspective Morals - ANSWER-Relating to issues of right / wrong and how individuals should behave based on what a person's conscience says is right and wrong, rather than what the law says should be done. Good or right when judged by the standards of the typical person or society at large. Forces that Shape Managerial Ethics - ANSWER-Personal Ethics Organizational Culture Organizational Systems External Stakeholders Ethics Approaches - ANSWER-Virtue Moral-Rights Utilitarian Personal Liberty Justice Pragmatic Virtue ethics - ANSWER-Moral behavior stems from personal virtues Ability and motivation to do right rather than wrong Unchanging, Moral Principle
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Moral-Rights Ethics - ANSWER-Asserts human beings have fundamental rights that cannot be taken away by another individual's decision Situational, Moral Principle Utilitarian Ethics - ANSWER-holds that moral behavior produces the greatest good for the greatest number Situational, Utility of Outcome Personal Liberty Ethics - ANSWER-moral when they promote the individual's best long- term interests Situational, Moral Principle Justice Ethics - ANSWER-moral decisions must be based on standards of equity, fairness, and impartiality Distributive, Procedural, Compensatory Unchanging, Utility of Outcome Pragmatic Ethics - ANSWER-Bases decisions on prevailing standards of the profession and larger society, taking the interests of all stakeholders into account Situational, Utility of Outcome Entrepreneurship - ANSWER-The capacity and willingness to develop, organize and manage a venture in order to ultimately be self-sustaining Entrepreneur - ANSWER-One who organizes, manages, and assumes the risk associated with the new venture One who risks time, effort, reputation and his or her invested funds as well as those of associates and stockholders One who takes initiative to combine land, capital, and labor to produce an innovative good or service that is hoped to be self-sustaining and profitable Entrepreneurial Characteristics - ANSWER-Persuasive Confident Disciplined Driven Belief
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Helps create innovations that combine tech and social knowledge Four Dimensions of Intrapreneurship - ANSWER-Proactiveness Innovativeness Self-Renewal New Business Venturing Differences Between Intrapreneurship and Entrepreneurship - ANSWER-Entrepreneurs take on more risk Two Perspectives on Organizational Conflict - ANSWER-Traditional Pluralistic Traditional Perspective - ANSWER-Conflict is bad Conflict need not occur Conflict results from breakdowns in communication and lack of understanding, trust, and openness People are essentially good Pluralistic Perspective - ANSWER-Conflict is good (should be managed) Conflict inevitable Conflict results from a natural struggle for limited rewards, competition, and potential frustration of goals People are not essentially bad, but are self-seeking Conflict - ANSWER-natural, inevitable outcome of close interaction of people who may have: diverse opinions and values different objectives varying access to information and resources within an organization
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Getting Tensions Right - ANSWER-be productively tense What is conflict about? - ANSWER-Goal incompatibility Differentiation Task Interdependence Limited Resources Rational Model - ANSWER-Goals: consistent across participants Power & Control: centralized Decision Process: orderly, logical, rational Rules & Norms: norm of efficiency Information: extensive, systematic, accurate Political Model - ANSWER-Goals: inconsistent, pluralistic within organizations Power & Control: decentralized, shifting coalitions and interest groups Decision Process: disorderly, result of bargaining and interplay among interests Rules & Norms: free play of market forces; conflict is legitimate and expected Information: ambiguous, information used and withheld strategically Thomas-Kilmann Conflict Modes - ANSWER-Competing Compromising Collaborating Accommodating Avoiding The Shark - ANSWER-Competing (Assertive, Uncooperative) Goal is to win
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Disciplined conversation, using concrete performance information, that takes place between a leader and an individual or team that results in the continuous improvement of performance Five Coaching Goals - ANSWER-Forge a Partnership Inspire Commitment Shape the Environment Promote Persistence Grow Skills Standardized Work for Your Coaching Conversations - ANSWER-Goals Reality Options Will Core Beliefs of Coaching - ANSWER-People must be given the opportunity to demonstrate competence Need to know why their doing it Feel appreciated Feel challenged Have the chance to improve when they make a mistake Essential Characteristics of a Superior Coach - ANSWER-Balance Being Concrete Sharing Responsibility Shape Showing Respect Critical Skills of Coaching - ANSWER-Listening Inquiring - Questioning
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Reflect Understanding Affirming Your Belief in the Person Being Consistent - Repeatability Core Conversation - ANSWER-Phase I
- gives information relative to the purpose
- assists the other person to develop relative information Phase II
- applies information to achieve positive result Performance Applications - ANSWER-Resolving Problems Teaching / Learning Supporting Performance Adjusting Performance Management - ANSWER-function that must be exercised in any organization Leadership - ANSWER-relationship between "the leader and the led" that can energize an organization to action Situational Management Model - ANSWER-Able / Unwilling Uncomfortable / With confidence In Low Direction / High Support Unable / Willing Comfortable / Without Confidence In High Direction / High Support Able / Willing Comfortable / With Confidence In Low Direction / Low Support Unable / Unwilling Uncomfortable / Without Confidence In High Direction / Low Support What book did Laura Kempf write? - ANSWER-Inspiring Bold
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Large vs. Small Org - ANSWER-differs in rate of adoption of the innovation small companies constricted by external capital and other resource availability large organizations can mitigate risk by self-funding Process vs. Product - ANSWER-efficiency vs. cost/quality/function/appearance Real vs. Perceived - ANSWER-concrete improvements illusion or perception of innovation under the guise of styling or other misdirection Intended vs. Unintended - ANSWER-innovations can be brought to market to fulfill a specific need only to be used for an entirely different purpose by the end-user customer Yours vs. Mine - ANSWER-ownership aspect Innovation Types - ANSWER-Product Process Customer experience External Constraints on Innovation - ANSWER-Competition Regulation End customer wants & needs Customer perceptions Internal Constraints on Innovation - ANSWER-Brand family imaging Budget available Strategic capabilities of the org Process timing Culture - ANSWER-Set of values, norms, guiding beliefs, and understandings that is shared by members of an organization and taught to new members as correct Basic assumptions, personality of an organization
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Things that make up Culture - ANSWER-Stories and Myths Rituals and Routines Symbols Power Structures Organizational Structures Control Systems (metrics) Paradigm (external view) Schein's Organizational Culture Levels - ANSWER-Visible Artifacts Values & Beliefs Basic Assumptions % of Time Employees Spend on Each Type of Work - ANSWER-Strategic 1% Tactical 29% Operational 70% Strategic Planning Cascade - ANSWER-Vision Mission Focus Areas Goals Performance Measures Strategic Initiatives High-Level Strategic Planning Process - ANSWER-Direction Setting Environmental Scanning Strategy Formulation
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Lead & coach others in change initiatives Be a positive force multiplier Enable others to work effectively through the change Diagnose and intervene when change issues arise Increase others' ability to manage future change Benchmarking - ANSWER-The process of continually searching for the best methods, practices, and processes and either adopting or adapting their good features and implementing them to become the "best of the best" Types of Benchmarking - ANSWER-Internal Competitive Functional Generic Internal Benchmarking - ANSWER-comparing yourself to similar operations within your own organization Competitive Benchmarking - ANSWER-Specific competitor-to-competitor comparisons for a product, process, or method of interest Functional Benchmarking - ANSWER-Comparisons to similar functions within the same broad industry or to industry leaders Generic Benchmarking - ANSWER-Comparison of work practices or processes and/or functional work processes that are unrelated Benchmarking Process - ANSWER-Planning Analysis Integration Action Planning Phase - ANSWER-Identify what is to be benchmarked
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Identify comparative candidates Determine data collection method and collect data Determine how you will get the information Analysis Phase - ANSWER-Determine current performance gap Project future performance levels Integration Phase - ANSWER-Communicate benchmark findings and gain acceptance Establish functional goals Action phase - ANSWER-Develop action plans Implement specific actions and monitor progress Recalibrate benchmarks Where to go for benchmarking - ANSWER-visits interviews reports academic or industry research conferences Being responsible sometimes means _________ - ANSWER-pissiong others off The day soldiers stop bringing you their __________ is the day you have stopped leading them - ANSWER-problems Don't be afraid to challenge the __________ - ANSWER-pros Never neglect __________ - ANSWER-details Organizational charts count for __________ - ANSWER-next to nothing Perpetual __________ is a __________ - ANSWER-optimism; force multiplier
