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COB 300 Management Exam 3: Final (Pargas) Questions and Answers
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COB 300 Management Exam 3: Final (Pargas) Questions and Answers
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COB 300 Management Exam 3: Final(Pargas) Questions and Answers
Bank of England - Answers -95 Million jobs going to robots in 10-20 years
Technology cycle - Answers -- Begins with the birth of a new technology
- Ends when that technology reaches its limits and is replaced by newer, better tech.
Bank S-Curve pattern of innovation: - Answers -- Characterized by slow initial process,
then rapid progress
Product Innovation - Answers -Change in the appearance or performance of a product
or the creation of a new one (Any color you want as long as its black)
Process Innovation - Answers -Change in the way a product is conceived,
manufactured or disseminated (Amazon)
Incremental Innovation - Answers -Creation of products, services, or technologies that
modify existing ones (Improving the soccer ball)
Radical Innovation - Answers -Creation of products, services, or technologies that
replace existing ones (Cars replacing horses)
Two Types of Change: - Answers -Reactive Change
Proactive Change
Reactive Change - Answers -Making in response to problems or opportunities as they
arise (Flooding along the Mississippi, Gulf Hurricanes in Texas)
Proactive Change - Answers -Involves making carefully thought out changes in
anticipation of possible or expected problems or opportunities
Unfreezing - Answers -- Share reasons
- Empathize
- Communicate
Change Intervention - Answers -- Benefits
- Champion
- Input
- Timing
- Training
, - Pace
Refreezing - Answers -- Top management
- Reinforce
Understanding resistance to change - Answers -- Caused by self-interest,
misunderstanding, and distrust
- Humans have a general intolerance for change
- People resist change out of self-interest because they fear that change will cost or
deprive them of something they value
- "Kiss of yes" Support change in public but ignore them in private
5 Stages of Organizational Decline - Answers -1) Blinded: Failure to recognize a change
2) Inaction: Recognize but do nothing
3) Faulty Action: Often the "cut costs" kiss of death
4) Crisis
5) Dissolution
Errors made when leading change: - Answers -- Unfreezing:
Not establishing a great enough sense of urgency
Not creating a powerful enough guiding coalition
- Change
Lacking a vision
Under Communicating the vision by a factor of 10
Not removing obstacles to the new vision
Not systematically planning for and creating short-term wins
- Refreezing
Declaring victory too soon
Not anchoring changes in the corporation's culture
Foreign Work Experience - Answers -Shows:
- Independence
- Resourcefulness
- Entrepreneurship
Positive and Negative Effects of Globalization: - Answers -Positive:
- More markets for exports
- Lower prices
- Specialization
- More competition
- Growth in emerging markets
Negative:
- Outsourcing
- Pain in local communities
- Reliance on foreign countries/governments
- Loss of sovereignty
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