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MAN 320F Final Exam with correct Answers
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MAN 320F Final Exam with correct Answers
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MAN 320F Final Exam with correct Answersorganizational culture importance - Answer -the most important thing a company can do
to be successful
-cannot be copied by competitors like a product can
-differentiates you
Mike Porter on culture - Answer -strategy is about developing a unique position, advantage, sustainability
org culture = strategy
Org Culture Formal Def - Answer -set of key characteristics that an org values that sets it apart - the company's personality
Large orgs culture - Answer -have both dominant culture and subcultures
Benefits of strong culture - Answer --excellent performance
-people share goals
-high motivation
-easier control of everyone
5 Elements of managing culture - Answer -1. What leaders pay attention to
2. How leaders react to crises
3. How leaders behave
4. How leaders allocate rewards
5. How leaders hire and fire individuals
Org Culture vs. National Culture - Answer -national culture > org culture so orgs must match the nation's values to work intl
How did AES find people who fit their org culture but not the ntnl culture? - Answer -
hired the youth who hadn't been indoctrinated into the Soviet way of thinking
Culture vs Diversity - Answer -hard to get people who are diverse to share company culture, but you need both
often what kills mergers is noncompatable culture Keeping a Culture Alive - Answer -selection: who hire
top management: who promote
socialization: how to train
SAS culture - Answer -offered crazy perks to employees for free
-fitness center/pool/golf
-flexible schedule
-no dress code
-car detailing
-massages
-child/medical care
-social workers to do life stuff for you (elder care, college set up)
keeps people happy and loyal and keeps profits high and turnover low, saves training cost and lost time
comp isn't public and owes nothing to anyone so he can keep doing this
hard to copy bc wall street is afraid of shareholders rxn to being kind
6 habits of merely effective negotiators - Answer -1. Ignoring the other side's problem
2. Letting price bulldoze other issues
3. Letting positions override interests
4. Searching too hard for common ground
5. Neglecting BATNA
6. Failing to correct a skewed vision
Things that fund startups - Answer -Venture Capitalists ($28bil)
State Funds ($8bil)
Angel Investors ($145bil)
Friends/Family ($60bil)
Angel Investors general info - Answer --typically invest $250,000 - $500,000 -like medical equipment, software, and biotech
-prefer seed and early stage investing close to home
-57% think they paid too much for a company
Pre $ Evaluation - Answer -companies value before any investment
Kleiner Perkins - Answer --waze
-myfitness
-square
-spotify
-intuit
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