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MGMT 1302 Review
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MGMT 1302 NotesWeek 1.1- Intro and Amazon
What does it mean to manage?
When an entity (us people) use assets and resources to achieve a goal within an environment.
Main focus on the forces that drive an entity:
1. How do employees influence their organizations?
2. How do organizations influence their employees?
3. Who holds the power in the organization-employee relationship?
Amazon:
What external factors affect amazon?
Government Regulations
Internet (power outages)
Shareholders
Customer Feedback
Supply chain, logistics, taxes
Amazon was asking for proposals for new HQ locations, and people started hating cities like NYC for wanting
to give Amazon 800 Million in tax incentives rather than help their community.
Amazon started receiving backlash about how they treat their employees, like skipping bathroom breaks,
injuries, and pregnant workers.
New Amazon warehouse in HRM, using lots of robotic technology. They have an external issue: the power
outages, which is they are now putting their money into local renewable energy.
However, Amazon is still undercounting its carbon footprint. They scored low for both transparency and
integrity
Week 1.2- Management Trends
Organizations that failed due to bad strategic decisions:
General Motors
Steel Mills in the US
AOL – Time Warner – M&A
Mortgage Crisis – Banking practices
Blockbuster spurns Netflix
Motorola
AON (insurance) – bribery fine
Starbucks – trying to block Ethiopia from patenting its coffee – multiple actors – corporation, govt.,
NGOs, public
Kodak – innovated digital tech, but lost out on capitalizing it
Reasons for bad strategic decisions
, Organizational Individual
Lack of Strategic Clarity Inexperience
Vague process, accountabilities, authorities Life, Time, Senior Leadership Pressure
Lack of commitment Stress and Overwork
Repeated pattern of decision making Pressure from members, ego and power
Few people making the decisions No personal values
Organizational hubris Lack of balance between emotion and logic
Groupthink No solid decision-making process
Model of Path Dependence
Elements of Path Dependence
- Initial Conditions
- Self-Inforcing mechanisms
- Lock In
Executive Hubris
- Undisciplined leaps into areas where a company cannot be the best
- Pursuit of growth beyond what a company can deliver with excellence
- Risky and ambitious decisions that clearly indicate conflicting and negative evidence
- Denial of the possibility of being imperiled by external threats or internal erosion
- Arrogant intellect
Hysteresis and Path Dependence- Hysteresis is the dependence of the state of a system on its history, it implies
that the outputs of a system do not just depend on the contemporaneous values of the inputs applied.
Trend Cycles-
Trend: This provides information on longer-term movements in seasonally adjusted data series over several
years.
Cycle: A. sequence of smoother fluctuations around the longer-term trend in part characterized by alternating
periods of expansion and contraction
, Strategic Technology trends, according to Gartner:
Expand Immersive Experiences
Optimize technologist delivery
Accelerate AI automation
Project Management Trends:
Working with fully remote teams
Advanced Resource Management
Agile Redefined
Teamwork starts with inclusivity
Maintaining flexibility
Top HR and Human Capital Trends-
Training and Development
AI in the workplace
Remote Work
Employee Wellness
Employee. Experience
Reskilling and Upskilling
Recruitment
Future Year Preparation
Knowledge Management Trends
Enhance CX
Single Sign-On
Bridge Data Silos
Fast-track access to files
Ease training
Sustainability Trends-
Standardized non-financial reporting
Regulated sustainability investing
Higher reliance on renewables and energy-efficient solutions
Increased variety and availability of plant-based and ethically sourced food
Race to sustainable mobility
Reducing deforestation
Using 'Big Data' to preserve biodiversity following COP 15
Mining e-waste for resources
Ethical workforces and supply chains
Investor-led push to adapt: Protection of value
Human capital management, human rights and diversity and inclusion
ESG Funds- Environmental, Social, and Governance Funds
Green Bonds: Bonds that fund projects that will have positive environmental benefits. Proceeds are used for
legally documented green projects.
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