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27 Cards in this Set
- Front
- Back
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What are the key principles from the Christensen article that you can apply to your life? |
Remember importance of humility
Allocate your resources- Allocation of time, energy and talent shape your life and strategy.
What will help us find happiness |
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What are the "Seven Practices" of high performing Organizations |
1. Employment Security 2. Selective hiring of new personnael 3. Self managed teams and decentralization of decision making as org design 4. Extensive training 5. Comparatively high compensation contingent on org performance 6. Reduced status distinctions and barriers. Dress, language etc. 7. Extensive sharing of financial and perferformance info thru org
Criticial that all 7 are used together |
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Under what conditions could these 7 practices work |
These practices work when they are all implemented simultaneously. Piecemeal adoption won't work!! |
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Examples from SW and Costco |
Southwest uses a low cost strategy with great customer service.
SW and Costco both use culture and spirit of the org. Simplicity with their operations.
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Define Leadership |
A process by which an individual influences others in ways that help attain group or organizational goals |
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How much do leaders matter? |
A difficult question to answer. Can vary in an organization. This is because of the "leader effect." People have the tendency to credit the leader in success and blame the leader in unsuccessful times |
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Broadly speaking, what are the different approaches that have been used to study leadership? |
Traits Approach- Idea that leaders are born with specific better leadership traits.
Behavioral Approach- What actions, hhabviors, and patters leaders are following.
Contingency Approach- The contingent on situation/conditions, may be leader in one situation, but maybe not another.
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What is the difference between a transformational and transactional leader? |
Transformational Leader: This kind of leader uses inspiration, acts as a role model, and appeals to peoples values and morals, intrinsic motivation. Has extra charisma.
Transactional Leader: Extrinsic motivation, uses reward and coercive power
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What's the difference between a time teller and a clock builder. |
Jim Collins Article Time Teller: Someone you're always dependent on. I.E. Tell you the time.
Clock Builder: Someone who can build you something that tells you that time whenever you want but you don't have to rely on them to be there. Keeps you from being dependent on 1 product or resource |
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What is Level 5 Leadership |
Builds enduring greatness through a paradoxical blend of personal humility and profession at will. Routinely credits others, external factors and good luck for company's success. Doing whatever it takes for great results, and terminating everything else |
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What is the mirror and window principle? |
Mediocre managers look out the window and competitors and blame external factors for lack of success. Good managers see everything as an opportunity and are always focusing on improving their own operations and not blaming external factors. |
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How does leadership relate to the other "problems" we discussed in class? |
Politics and power- It is needed to influence people within and also the public
Ethics- Would it have been right thing to do if he did not go forth with the experiment?
Purpose and Governance- Need approval from people in bureaucratic structure. |
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Know the common ethical principals we discussed in class |
Utilitarianism: Greatest good for the greatest # of people. Justice:Distributes benefits and burdens equitably. Does not have to be equal to be fair Categorical Imperative: Act as if your action set precedent, became universal law Reversibility: Golden rule, take the other party's perspective. Rights: Respects and protects the basic rights of others Virtue: Consistent w/ honesty, integrity, generosity, compassion, and prudence. Disclosure: Decision to still be ok if disclosed to outside parties and public.
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Is ethics a personal or organizational level phenomenon |
Both |
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What is moral disengagement? |
Process of convincing oneself that ethics and ones morals/values do not apply to the current situation. Disengaging morals.
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Escalation of commitment- What is it? Why does it happen? How can we avoid it? |
What is it: It is staying committed to a bad action/ decision. Feel committed because it has been publicly identified and have made a big investment.
Why: Want to keep word/ego.
How to avoid: View initial investment as a sunk cost, evaluate decision makers based on decision criteria used not outcome, set a limit to your commitment. |
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How does social psychology inform our understanding of ethics? |
Deference to authority- Deeply engrained in heads/culture, feels wrong going against authority
Social conformity: Following along with others to fit in.
Pluralistic Ignorance: Having false thoughts about others opinions and that yours may be wrong when everyone else is thinking the same |
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Be familiar with common ethical breakdowns |
Motivated Blindness: People see what they want to see and miss info that's not in their best interest.
Ill conceived goals: Incentivizing the wrong goals. Encouraging employees to do the wrong thing.
Indirect Blindness: Passing off unethical actions to others, like third parties. Being indirectly involved with unethical decisions.
The Slippery Slope: Slowly, incrementally working your way to doing bigger and bigger unethical actions. Enron
Over evaluating Outcomes: Making poor decision that turn out well and become rewarded and vice versa.
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Be able to apply specific lessons from MBA Hackers, GOodrich, Keeping your Colleagues Honest. |
MBA Hackers: Typical excusses include It's standard practice, it's not a big deal, it's not my responsibility, I want to be loyal to company, coworkers.
Goodrich:?
KCH:? |
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Understand what power is and where it comes from |
Power: Ability to exert influence and exercise control. It is a function to how dependent firms are, how valuable resources are, etc.
Power comes from networks with information and relationships |
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How do the sources of power differ under different theories of organization? |
Rational: Formal position, rules, budgets, contracts, seniority
Open: Control over resources, ability to innovate, external networks
Natural: Internal networks, relationships, informal position, reputation, political savvy.
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How can you tell if a job is powerless |
Tons of rules/routines/predecessors. Little association wit higher ups, and no publicity or external exposure |
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How can you overcome powerlessness w/o formal authority? |
View everyone as a potential ally. develop relationships. Use reciprocity, favor for favor.
Exchange currencies- Flexible with your work schedule.
Assisting to do dog work.
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Be familiar with Cialdini's 6 principles of persuasion |
1. Liking- people like those who like him. Uncover similarities 2. Reciprocity- Give what you receive, others feel guilt. 3. Social Proof- Use people with similarities to lend you support to help persuade peers 4. Consistency: People will trust in you and align their commitments accordingly. 5. Authority: Establish expertise early. Don't assume people recognize it 6.Scarcity: People want more of what they can |
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What are the pros and cons of strong vs weak ties? |
Strong ties: Good for support, trust but tend to be too similar and redundant
Weak Ties: Less supportive, but supplement diversity and can bridge structural holes
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Rondell Data and Larry Summers Cases. As well as "Power Failure in Management Circuits" and "Influence without Authority" |
Rondell Data: Powerlessness is a problem. Informal structure can be as/more important than formal structure in determining power. Especially in natural systems. Understand informal and position self within it by networking, building relationships, and understanding culture.
Larry Summers: Being smartest guy in room isn't enough, must understand political dynamics. See Change is needed when people don't see it. Support of powerful constitutes needed
Influence without Authority: It's possible to be influential w/o formal authority. Use social exchange (currency). People have many currencies available but don't recognize them. Build relationships on mutual obligations |
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