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50 Cards in this Set
- Front
- Back
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Friedman |
- the main goal of a company is to max shareholder value - individuals have responsibilities - spending other people's money
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Denning |
- shareholder value is a result, not a strategy - making profits is like eating - customer is foundation of a business |
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Merck case |
should Merck treat river blindness?
CSR
managers should not expect the market to reward them |
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purple toenails |
just because it was legal in the host country does not make it a valid excuse
profits vs ethics matrix |
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walmart win-win |
you can give back and have high profits (not mutually exclusive)
reduce gas saves money and the environment
customers like organic food
light bulb efficiency |
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contingency theory |
context x structure = performance
based on situation (context) |
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5 common factors that influence structure |
ChESTS
1. culture and values 2. size and life cycle 3. technology 4. environment 5. strategy, goals, governance |
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centralization pros |
uses capabilities of executives more efficient |
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decentralization pros |
empowerment faster decisions more procedurally fair attractive to job candidates |
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high formalization pros |
reduces ambiguity consistency of behavior |
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low formalization pros |
increase creativity increase motivation and satisfaction faster decision making and better customer service |
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tall structures |
low span of control (few people for each manag)
more supervision more clarity and security |
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flat structures |
high span of control (many people for mngrs)
more empowerment and autonomy greater self-actualization self-reliance |
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divisional structures |
best when many product lines or turbulent environments duplication of resources generalized skills poor communication b/w divisions easier to change harder to have consistent quality more innovation more financially accountable |
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functional structures |
few products or stable environment more efficient, economies of scale specialized skills poor communication b/w functions slower to change easier to have consistent quality less financial accountable less innovation |
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span of control |
# of employees for each manager |
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matrix structure |
combination of divisional and functional
everyone reports to a department manager and a product manager
increased communication functional skill development violates unity of command |
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unity of command |
everyone has a single manager |
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3 levels of culture |
(unobservable)
1. assumptions 2. espoused values (stated goals) 3. artifacts and behaviors (dress code, jokes, furniture)
(observable) |
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organization culture profile (7) |
TOADS PI team-oriented outcome-oriented aggressive detail-oriented stable people-oriented innovative
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what makes culture strength |
consensus (everyone agrees) |
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what makes subcultures |
faultlines |
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how are cultures created (first half) |
founder values and preferences industry demands
this creates early values, assumptions, and artifacts |
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how are cultures maintained (second half) |
attraction-selection-attrition (ASA) new employee onboarding leadership reward system
this leads to organizational culture |
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psychological contract |
employee's beliefs about what they give and get from the company |
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explicit terms |
I give work, company gives pay |
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examples of employee's psychological inputs |
time effort loyalty innovation management performance results |
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examples of company's psychological rewards |
security training status benefits pension safety ownership |
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transformation |
completely changing the psychological contract |
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accomodation |
working with the existing psychological contract |
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4 key principles of communication when implementing change |
1. provide external validation for reasons 2. respect the past 3. involve others 4. create a temporary contract |
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4 responses to contract breach |
VOICE (constructive, active) attempt to change LOYALTY (constructive, passive) just wait to imprv NEGLECT (destructive, passive) just wait to worsn EXIT (destructive, active) leave the situation |
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when to EXIT |
other options are available short term relationship |
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when to VOICE |
channels exist you feel you can influence others |
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when to LOYALTY |
voice channels don't exist you believe situation will get better |
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when to NEGLECT |
no other options no hope to improve |
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common reasons to change |
D GOT MP
demographics technology globalization market shocks organizational growth poor performance |
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Lewin's 3 stage model |
unfreeze
change
refreeze |
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how do you ready the org for change (unfreeze) |
CCUrVES
vision communication urgency coalitions support employee involvement |
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how do you execute changes (change) |
small wins removing obstacles managing resistance |
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common reasons why people resist |
disrupted habits personality uncertainty fear of failure loss of power |
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how to ensure changes are permanent (refreeze) |
sharing successes continuing change rewarding change embedding in culture |
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OBprentice steps (4) |
take hold immersion reshaping consolidation |
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take hold of change (3 steps) |
develop priorities and map the situation
develop relationships and get expectations from stakeholders
take corrective actions |
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what happens if you act too quickly |
make poor decisions based on inadequate info |
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what happens if you act too slowly |
lose "honeymoon" period lose credibility b/c your indecisiveness lose time |
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immersion |
reconfigure "map" of the situation assess consequences of taking-hold actions reassess priorities and personnel |
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reshaping |
reconfigure the org based on better understanding
be open to unanticipated problems |
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consolidation |
evaluate reshaping actions remain open to new developments |
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strategies for happiness (6) |
1. righteous living 2. building things 3. building others 4. generously giving 5. giving thanks 6. patiently enduring |
