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69 Cards in this Set
- Front
- Back
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Which will have more people in management per employee, High or Low Power Distance Index (PDI) cultures?
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Higher. The Higher the PDI (China & India) the more people depend on direction from their elders due to the higher respect and in equal distribution of power. Less PDI countries like the US and Germany require less direct supervision since people are treated more like equals.
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Who created PDI and what is it?
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Developed by Professor Geert Hofstede Power Distance Index is a spectrum of cultural attitudes towards hierarchy (respect elders & challenge authority). High would be India & French, Low being US & Germans.
reference: http://www.kwintessential.co.uk/intercultural/power-distance-index.html |
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When going to a country with HIGHER PDI than yours what are some things you should be conscious of?
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- give clear and explicit directions to those working with you. Deadlines should be highlighted and stressed.
- do not expect subordinates to take initiative. - be more authoritarian in your management style. Relationships with staff may be more distant than you are used to. - show respect and deference to those higher up the ladder. This is usually reflected through language, behaviour and protocol. - expect to encounter more bureaucracy in organizations and government agencies. |
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When going to a country with LOWER PDI than yours what are some things you should be aware of?
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- don't expect to be treated with the usual respect or deference you may be used to.
- people will want to get to know you in an informal manner with little protocol or etiquette. - be more inclusive in your management or leadership style as being directive will be poorly interpreted. - involve others in decision making. - do not base judgements of people on appearance, demeanor, privileges or status symbols. |
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Etiquette isn't ...
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suppressing your differences
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What's a good leading line to initiate a compromise with a difficult person?
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"let's compromise. What do you think's fair?"
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When asked to do an impossible task by your boss what should you not do?
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Don't say no immediately as will seem lazy, disloyal or incompetent.
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What are 2 ways to deal with conflict situations?
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1. Stay focused on behaviour, not the person.
2. Phrase your statement: "When you do ____ I feel ___." |
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What's a good practice for Gen X managers of en Y's relative to Boomers?
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Get Boomers to Mentor Gen Y'ers as they often love their energy as it reminds them of their own children and youth.
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What are 2 principles of Feng Shui in conducting meetings?
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- If leading the meeting sit furthest from the door
- Use round tables instead of ones with edges |
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What are 4 characteristics of Gen Y'ers
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1. Unconsciously competent with technology
2. Impatient 3. Live life to the fullest (in the moment) 4. Expect and comfortable with high degree of change |
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What's the age brackets of Boomers, Gen X'rs & Gen Y'rs?
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Boomers 50+ years old
Gen X 30-40s Gen Y Sub 30s (as of 2009) |
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The excellent firms of tomorrow will cherish ___ & thrive on ___
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impermanence/change
chaos |
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If you go somewhere new after graduating ___
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you'll be taken seriously in a way that won't happen if you stay at Dell.
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If you project __ you draw __ and that's how ___.
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Weakness
Agression people get hurt |
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Project __ to avoid __.
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Strength to avoid
Conflict |
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What's Basic "Dog Psychology"?
Fear = __ = __ If you get them peeing down their leg they ___ |
use and impact of fear in relation to others
Fear = hesitation = worst fears come true submit |
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What are 6/some barriers to being an entrepreneur?
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1. Lack of Confidence (fear failure too much)
2. Personal Comitments (lack of time) 3. Professional Comitments (lack of time) 4. Not knowing how to start 5. Lack of skills 6. Lack of Capital or Financial means |
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Entrepreneurs spot ___
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fundamental changes in the world around them
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In a flat world, you can no longer afford to do business on your __ & you can't ___
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own
take your eyes off the competition |
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The two key traits Entrepreneurs have are __ & __
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Self-discipline
Tenacity |
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Entrepreneurs focus on __ & __
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Opportunity & Innovation
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What's an important factor in looking at a market or conducting an Industry Analysis?
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Assessing what stage of maturity it's in:
Birth = settlers (establishing self) Childhood = Wildwest (maveric & market disturbance) Adolescence = Hierarchy (establish dominance over competition) Adulthood = Efficiency (protective & focus on ops efficiency) Old Age = obselete (death or rebirth) |
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What are the 5 key attributes of entrepreneurial thinking?
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1. Focus on opportunity & innovation
2. Have self-discipline & tenacity 3. Believe that you control your own destiny 4. Don't fear ambiguity & uncertainty 5. High degree of confidence & are very confident |
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What are 3 qualities of an Entrepreneur?
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1. Opportunistic - recognizes opportunities & takes them
2. Resourceful - gathers resources needed to act 3. Tenacious - drives opportunities to completion |
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After assessing the feasibility of the Market & your target customer what do you need to plan out?
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1. List out everything you'll need to start your new business
2. Forecast sales for 2 years based on Market research, how customers will pay & bounce it off your leardership team. 3. Forecast Operational Expenses 4. Create cash flow statements (In, Out & Net cash) |
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What's a good way to categorize the benefits & potential satisfaction of each aspect of a negotiation visually?
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Graph their and your satisfaction ratings from scale of 1 to 5. Anything in the quadrant below 3,3 is lose-lose and conversely above 3,3 is win-win. Other quadrants one party wins and the other looses.
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What's my natural preferred method or style of reacting to conflict?
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Comprimise
Left most - Compete or Defeat Collaborate or Cooperate Comprimise Accomodate Right most - Avoid or Withdraw |
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Etiquette is what enables you to ___
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deal with differences constructively
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Etiquette give you ___
Everything else ___ |
a set of social rules
starts battles - Ms. Manners - |
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What (if any) is the cultural difference of gift giving between N. Americans & Japanese Public sector negotiations?
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N. American = Frowned upon
Japan = Always part of the process |
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When asked by your boss to do a new impossible task what 3 things should SHOULD YOU DO?
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1. Ask for time to consider it.
2. Look into the sit'n, decide what want to do. 3. Redefine the problem and discuss a compromise with your boss. |
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When initiating a compromise or asking for time to consider something what kind of wording should you use and avoid?
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Use: "Yes, and ..."
"If THIS, then THAT" Not: "Yes, but ..." |
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What can make us more influencable in Negotiations?
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Dealing w. someone we like or are attracted to.
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What's the best way to research a market?
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Get out and into it and start talking to people, particularly customers.
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What's an Elevator Pitch?
What are 4 components of an effective Elevator Pitch? |
30 sec. an entrepreneur has to impress a potential investor.
1. The product/service you're offering 2. Customer (who will be paying you) 3. Benefit of your value prop'n 4. Distribution plan of how plan to deliver the benefit to the customer. |
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Change = x = y
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change = opportunity = growth
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Entrepreneurs find and create ___
that they can ___ |
niches in the market that they can dominate
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Another way to be socially responsible is to ___
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sponsor a city league team for soccer, baseball, or another sport.
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What kind of analysis is one of the most important skills an entrepreneur can acquire?
What does this analysis do? |
Feasibility Analysis
Tests the viabililty of a new business concept before you spend a lot of time and effort to prepare a business launch |
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Describe 3 traits of what most business environments are like today?
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Dynamic
Fast Moving Anything but predictable |
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Entrepreneurs aren't afraid to ___
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Fail
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Respect everyone's time. Be __ & __
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short & succinct
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Being too casual at work or pressing too hard can ___
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burn you out
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What must you always keep in mind about satisfying your customer?
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Must satisfy your primary and end users needs.
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Do customers buy benefits or features? Describe it.
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Benefits. Intangible aspects that solve the customers pain. (i.e. convenience, health & save time)
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What kind of people should entrepreneurs hang out with? Why is it important?
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People diff. than them. Opens their minds to new ways of thinking.
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Is Entrepreneurship a creative or scientific process? Is it chaotic or linear?
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Creative & chaotic.
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What do most business models presuppose about the market environment?
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That it's stable and predictable, which it isn't.
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Why is it important to find a Mentor? What role will they play? Rhyme off some of yours.
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TO learn from their mistakes.
They're a sounding board for new ideas. They help bring you back down to earth & are advisors who've already been there. Kevin Deehan, Dan J, Owais & Mike |
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Should you start a company on your own or assemble a team? Who should be part of it?
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Team.
Founders (the money) Professional Advisors Board of Directors Strategic Partners (Mfg. & Disty's) |
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What's a great way to overcome creative barriers?
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Keep a journal.
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Is an MBA an end itself?
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No it's just table stakes (a means to an end).
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What has the Internet done for small companies?
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Leveled out the playing field.
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Is Change good? Change is as inevitable as __ & ___.
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Yes, creates opportunity as otherwise things become stagnant.
Death & Taxes |
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Can you put your business in a vacuum and avoid changes? Although like death and taxes it's ___
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No. You may try to avoid them as long as possible.
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Entrepreneurs put customers at ____.
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the center of everything they do.
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One way to be socially responsible is to ___
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give employees an opportunity to volunteer their time every month in charitable activities.
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After identifying your target customer and market who should you identify? Are they always obvious? Who should you look for?
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Your competition.
No. Companies with similar capabilities and expertise as your co. |
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What's the best way to Impact a Public Praise?
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1. Describe the problem
2. Describe what the individual did. 3. Describe the results their actions had. 4. How what they did ties in to the companies overall goals. |
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What will a feasibility analysis help you do?
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Define your target Market & Customer.
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What's key about any product or service an entrepreneur launches?
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It must SOLVE A PROBLEM they see or have experienced or meet a MARKET NEED that isn't being met.
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Entrepreneurs serve a need in the market that other bus' ___
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aren't currently serving or aren't willing to risk undertaking.
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What's important about identifying competitors? What should you look for?
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They're not always obvious. Look for companies with similar capabilities and expertise.
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Entrepreneurs in large corporations are called ___
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corporate ventures.
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Entrepreneurs are comfortable with ___
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ambiguity and uncertainty.
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What's the trick in satisfying the needs of your primary customer?
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make sure the end user's needs are satisfied as well.
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What's the best way to get new ideas?
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keep a journal and network with other people who are different from you - artists, public servants, scientists
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Hard work is only a prison sentence if ...
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... it doesn't have meaning.
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