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COB 300 Management Exam Two (Pargas) Questions and Answers
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COB 300 Management Exam Two (Pargas) Questions and Answers
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COB 300 Management Exam Two(Pargas) Questions and Answers
Organizational Culture - Answers -"The way we do things around here"
-Important for employee morale, happiness, retention, and productivity.
Organizational Culture - Answers -It is an invisible force that leads you into compliance
with the organizational culture
A company's DNA
Factors that influence successful cultures - Answers -Adaptability, involvement, clear
mission, consistency
Organizational Culture - Answers -system of shared beliefs and values that develops
within an organization and guides the behavior of its members
Also called Corporate Culture
Levels of Organizational Culture - Answers -Seen (surface level), Heard (expressed
values and beliefs), Believed (unconscious assumptions and beliefs)
Seen - Answers -Symbolic artifacts such as dress code, workers and managers
behavior, what people say
Heard - Answers -How decisions are made and explained, widely shared assumptions
and beliefs
Believed - Answers -Buried deep below surface, rarely discussed or though about
Ricardo Semler's Views - Answers -"Forget about the top line"
"Never stop being a startup"
"Don't be a nanny"
"Let talent find it's place"
"Pay for talent not for time"
How Employees Learn Culture - Answers -symbols, stories, heroes, rites and rituals
Symbol - Answers -an object, act, quality, or event that conveys meaning to others
,Story - Answers -narrative based on true events, which is repeated - and sometimes
embellished upon - to emphasize a particular value
Hero - Answers -a person whose accomplishments embody the values of the
organization
Rites and Rituals - Answers -activities and ceremonies, planned and unplanned, that
celebrate important occasions and accomplishments in the organization's life
Keys to an Organizational Culture - Answers -Consistency, Clear mission, Adaptability,
and Employee Involvement
Vision - Answers -The desired future state of the organization. Depicts an ideal but
realistic future. Helps define the long term future of the org. Is challenging and
inspirational to employees. Incorporates an understanding of the org.'s capabilities.
Mission - Answers -Is the reason for an org's existence; a statement of purpose. It
clearly identifies what the org. seeks to achieve over the long term. It is NOT a distinct
statement of strategy but is an indicator of the overall direction of the org.
Example of Mission - Answers -"To remove unexploded remnants of war and improve
the lives of victims"
Example of Vision - Answers -
Environmental Change - Answers -the rate at which a company's general and specific
environments change
Stable Environment - Answers -rate of change is slow
Dynamic Environment - Answers -Rate of change is fast
Punctuated Equilibrium Theory - Answers -Companies go through long periods of
stability in which incremental changes occur, followed by short periods of dynamic,
fundamental change, and then a new equilibrium (stability)
Environmental Complexity - Answers -the number and the intensity of external factors in
the environment that affect organizations
Simple Environment - Answers -Includes few factors
Complex Environment - Answers -Includes many factors
Resource Scarcity - Answers -the abundance or shortage of critical organizational
resources in an organization's external environment
, Uncertainty - Answers -Extent to which managers can predict which external changes
and trends will affect their businesses
Components of the Specific Environment - Answers -customers, competitors, suppliers,
industry specific laws/regulations, advocacy groups
Tips for the Right Culture - Answers -1. Align values and vision
2. Give everyone a piece of the pie
3. Encourage people to fail
4. Focus on communication
To improve corporate culture we will have to create an environment that... - Answers -
Unlocks creativity
YOUR JOB: - Answers -See the org. not as it is, but as it's capable of becoming
The Triple Bottom Line - Answers -People, Planet, and Profit
People - Answers -"How can we improve our community and society?"
Resources - Answers -the assets, capabilities, processes, employee time, information,
and knowledge
Resources... - Answers -Lead to efficiency and effectiveness which lead to a
sustainable competitive advantage
Rainbow Rare Earths - Answers -Owns a project in Burundi, Africa (London Stock
Exchange)
Components of Sustainable Competitive Advantage - Answers -Valuable resource,
Rare resource, Imperfectly imitable resource, Nonsubstitutable resource
Valuable Resource (Components of Sustainable Competitive Advantage) - Answers -
allows companies to improve efficiency and effectiveness (employees, patent,
copyright)
Rare Resource (Components of Sustainable Competitive Advantage) - Answers -a
resource that is not controlled or possessed by many competing firms (rare earths -
China, Africa)
Imperfectly Imitable Resource (Components of Sustainable Competitive Advantage) -
Answers -a resource that is impossible or extremely costly or difficult for other firms to
duplicate (Amazon's distribution centers, Google Maps, Apple App Store)
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