Management 2.0
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Management 2.0 - Leaderboard
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| Can you define the three levels of managers and what their responsibilities are? | Strategic manager: Senior executives with a overall responsibility for the firm. They develop companys goals, focus on long-term issues and emphasize the growth and effectivness of the organization. Concerned with the interaction between the organization and its external environment. Tactical manager: Are middle-managers that is responsible for translating the general goals and plans developed by the strategic managers into specific objectives and activites. They focus on shorter time horizon and the coordination of resources. Operational Managers: Lower-level managers who supervise the operations of the organization. Are directly involved with employees and are responsible to implement the strategic plans developed with tactical managers. Are the link between management and staff. |
| What is Taylor`s four principle of scientific management | 1. Scientifically study each part of a task and develop the best method of performing the task. 2. Carefully select workers and train them to perform the task by using the scientifically developed method. 3. Cooperate fully with workers to ensure that they use the proper method 4. Divide work and responsibility so that management is responsible for planning work methods using scientific principles and workers are responsible for executing the work accordingly. |
| What is the Hawthorne effect? | The Hawthorne effect refers to people's tendency to behave differently when they become aware that they are being observed. |
| What is System Theory | A theory that views the organization as a system of interrelated parts that function in a holistic way to achieve a common purpose. First there is inputs which are resources, materials or information that enters the transformation process. In the transformation process the inputs are transformed into outputs, it involved the internal operation or workflows. Are when raw materials are turned to finish products. Outputs are the final results or product that are produced by system and delivered to external stakeholders. |
| What is contingency theory? | A theory that is based on the thought that there is no " one best way" to manage an organization. What works for one organization may not work for another. Situational characteristics/contingencies may differ. The managers must understand this to determine the most effective management practices in a given situation. |
| What is the learning organization? | The management approach based on an organization anticipating change faster than its counterparts to have an advantage in the market over its competitors. |
| What is the modular organization? | A system where employees are organized into self-contained interchangeable parts. Which means that each individual has a specific role and can be easily reallocated to where resources are required within the organization. |
| What is the Intangible organization? | The Intangible Organization refers to an organization’s non-physical, non-material assets and elements that contribute to its overall functioning, performance, and value. These intangible aspects do not have a physical presence, but they are critical to the organization's success and can significantly impact its effectiveness, innovation, and competitive advantage. |
| What is Entrepreneurship? | The process of creating a business enterprise capable of entering new of established markets. Involves deploying resources and people in a unique way to develop a new organization. An entrepreneur is an individual who creates an enterprise |
| Explain different types of entrepreneurships | Corporation: Employees within larger organizations act as entrepreneurs Partnership: Co-owners of business and A proprietorship: is a type of business entity owned and operated by a single individual. It is the simplest form of business organization. |
| Mention the two financial resources for entreprenurship | Equity financing: Raising money by selling part ownership of the business to investorsl. Debt financing: Obtaining a commercial loan setting up a plan to repay |
| Mention the type of leaders and the difference between them | Postheroic leader, charismatic leader, transformational leader and transactional leader Postheroic leader: Shifts away from the "heroic leader" idea and focuses on collaboration and shared leadership. Charismatic leader: Leader who inspire with personal charm and enthusiasm Transformational leader: Leader who focuses on inspiring others, to make them achieve their fullest potential Transactional leader: Leader that focuses on clear structure, reward and punishment based on performance. |
| What are the different leadership powers? | Coercive power- based on fear Reward power- based on motivation Legitimate power- based on position Expert power- based on knowledge Referent power- based on personality |
| Can you explain the two motivation theories? | Content theory: Theories that seeks to understand what motivates people. Ex maslow and alderfer erg theory. Process theory: Theories that seek to understand what steps can we take to improve and maintain motivation. Ex: goal-setting theory |
| What is the difference between maslows theory and Alderfer erg theory? | Maslow hiearchy of needs is a theory where some needs must be fulfilled to be able to meet other needs. It is five steps of the pyramid, while Alderfer erg theory have three needs( existence, relatedness and growth) that are needs we can accomplish or seek simultaneously. |
| Explain the growth share matrix | The growth share matrix is a portfolio management framework that helps companies decide on how to prioritize different businesses by their degree of profitability. The framework is divided into four part and has a column with growth and market share. In the four parts there is symbols, which represents low growth with high share(cow), high growth with high share(star), high growth with low share (question mark) and low share with low growth(dog). |
| What is a SWOT analysis? | A framework to assess strengths, weaknesses, opportunities, and threats. |
| Can you explain Porters five forves model | Porter's Five Forces Model is a model often used to analyze the industry environment, considering factors such as the threat of new entrants, bargaining power of suppliers and buyers, threat of substitutes, and industry rivalry. These forces influence a firm's market position and competitive strategy by shaping profitability potential within the industry. |
| Can you explain the link between the firm and industry | The link between a firm and its industry environment is a dynamic relationship where external industry factors set the context for internal firm strategies. Firms that understand and respond strategically to their industry environment are better equipped to gain a competitive edge, capitalize on opportunities, and navigate challenges. The firms resources, structure and system affect their strategy and efficency. |
| What is the difference between corporate strategy and business strategy? | Corporate strategy defines the overall scope and direction of the organization, deciding which markets or industries to enter, while business strategy focuses on how to compete effectively within a specific market to gain an edge over competitors. Corporate: swot and growth share matrix. Business: porters five forces model |
| What are the benefits and costs of social responsibility? | Benefits: Good for citizens in a community, fewer conflicts with stakeholders, influental to stakeholders, higher financial performance and enchance the image of the company, Costs: Lose focus on mission and convert needed resources to social responsibility projects rather than to projects improving the business. |
| Explain difference between th ethical approaches: utilitarianism, individualism, rights approach and justice approach? | Utilitarianism: Good for the majority Individualism: Self-interest Rights approach: Every one has fundamental rights Justice approach:Treated fairly |
| Mention strategies for managing stakeholders | Confrontation, damage control, accomodation and proacttive |
| Explain Lewins three step model for change and mention reasons for need for change | Unfreeze: Prepare company for change. Change. Transformation occours. Refreeze: Change is routine. Reasons: technology, politics, market forces, social trends and events within company |
| Can you explain the characterisitc of organizational culture | Cultural uniformity vs Heterogenety: Uniformity is one culture, while heterogenety is mix of cultures. Strong vs weak: Strong has well-defined values and they are widely shared. Weak has unclear rules and lower commitment. Culture vs formalization: Culture has shared beliefs, values within ana organization, while formalization is rules, procedures and policies that are documentet and enforced. National vs organizational culture: National is culture within a country, while organizational is within a company |
| Mention the types of culture classifications | Baseball team culture-> rapidly changing environment Club culture-> loyal and commitment Academy culture-> expert, slow and steady climb up a ladder Fortress culture-> Surviving, about results |
| Explain the difference between vertical and horizontal organizational structure | A vertical organizational structure has a clear, multi-layered hierarchy where decision-making is centralized at the top, and communication flows downward. This structure supports well-defined roles and accountability, making it effective for stable environments that prioritize efficiency and control. A horizontal structure has a flatter hierarchy with fewer levels, promoting collaboration and decentralized decision-making across teams. This setup enhances flexibility and rapid communication, suiting dynamic environments where innovation and responsiveness are essential. While vertical structures emphasize authority and order, horizontal structures foster adaptability and teamwork. |
| How should we meet culture difference as a organization? | Improve cross-cultural communication: Learn different communication styles Enchance team collaboration: Understanding the unique values, perspectives, and communication styles within a team to create an environment where everyone is included Develop training programs: Spread awarness and prepre employees for international partnerships Tailor marketing strategies: Adapt marketing and communication that align with cultural values. |
| What is Hofsteds model of cultural differences | A framework for understanding cultural differences and how they affect behaviour in a business context. Power distance: Measures acceptance of unequal power distance in a society. High PD=higher acceptance. Low PD= Low acceptance, prefer equality. Masculity vs Feminity: Values more masculine traits such as competitiveness or feminity such as quality of life. Individualism vs collectivism: Measures whether or not a culture values indepence and personal goals vs group goals and interdepedence. Uncertainty avoidance: Measures how much cultures values uncertainty. High UA indicates a culture prefer structured environmentl, while low indicates a culture accept risk-taking. Indulgence vs restraint: Indulgence cultures allow relatively free gratification of basic and natural human desires related to enjoying life and having fun while restraint cultures control gratification of needs and regulate people's gratification Long term orientation vs short term: How a cultures view is on long term or short team orientation, meaning long-term is a focus on goals and delays in short-term gratification. Short term are motivated by immediate results and quick innovation |
| What is the difference between transnational, international, multi domestic and global firms | Transnational: An enterprise that is involved with the international production of goods or services, foreign investments, or income and asset management in more than one country. International: The business is outside the original country where it is located. This business could include foreign assets, such as factories, or even have foreign employees. Multi domestic: A multidomestic firm is a company that operates in multiple countries but tailors its products, services, and strategies to meet the specific needs and preferences of each local market. Global firms: A global firm operates in multiple countries but maintains a standardized approach to its products, services, and branding across all markets. |
| What is the difference between centralism and decentralism? | Centralism and decentralism differ primarily in decision-making authority within an organization. Centralism concentrates decision-making at the top levels of management, allowing for uniformity and control, which can ensure consistency but may hinder responsiveness to local needs. Decentralism distributes decision-making authority across various levels and regions, empowering managers and employees to make choices that can lead to faster adaptation and innovation. |
| Explain the Uppsala model | The Uppsala Model is a theoretical framework that explains how firms internationalize their operations gradually and incrementally. The Uppsala Model identifies four key stages of internationalization: 1) no regular export activities, 2) exporting via independent agents, 3) establishing a foreign sales subsidiary, and 4) full-scale production in the foreign market. This approach highlights that internationalization is a process of learning and adaptation rather than a one-time decision. |
| Why is Anna meeting resistant to change in the company in case 1? | Several factors caused the failure: Strategy Misalignment: Anna's strategy does not align with the company’s core values. Siloed Focus: VPs and employees lack cross-unit experience, indicating a lack of collaboration between departments. Lack of Stakeholder Engagement: There is insufficient collaboration with key stakeholders. Insufficient Evidence: There is no clear proof of the threat or its impact. VP Misalignment: Anna's plan doesn’t align with the VPs' self-interest, potentially creating resistance among leadership. |
| What is Case 1 about( Anna Frisch? | Anna Frisch, the marketing director at Aesch AG, a medical device company, proposed changing the company's marketing strategy in Germany. Traditionally, Aesch focused its marketing on doctors, but Anna saw that hospital administrators (like CEOs and CFOs) were now more involved in purchasing decisions. This shift was due to financial challenges in the healthcare industry and increased competition. Anna suggested that Aesch start targeting these executives to keep up with the changing market, but her plan faced resistance within the company. |
| What are the strengths and the weaknesses in the CEO`action in case 2( Eli Lilly and Yz-crisis) | Project Omega: Realigning the company structure into five focused business units to improve decision-making and customer alignment. R&D Focus: Continued investment in internal R&D, despite pressure to cut costs, and pursuing selective acquisitions like Imclone to strengthen their oncology portfolio. Cost Reduction: Implementing cost-saving measures, including workforce reduction and restructuring without compromising the core R&D activities. Forward Guidance: Setting minimum financial targets and offering clear communication to reassure investors and employees during the transition period. Weak Actions: Resistance to M&A: While maintaining independence was strategic, it limited short-term options for growth compared to peers that pursued mergers. Initial Skepticism: Internal resistance and external skepticism about the restructuring plan indicated that not everyone was convinced of the path forward. |
| What change did Anna Frisch propose at Aesch AG?(case 1) | Shifting the marketing strategy from targeting doctors to targeting hospital administrators due to changes in healthcare purchasing dynamics. |
| Why did Anna face resistance from Aesch AG’s VPs? | Due to strategy misalignment, siloed department focus, lack of stakeholder engagement, insufficient evidence, and VP misalignment with her proposal. |
| How could Anna potentially overcome the resistance to her marketing strategy? | By initiating pilot projects, engaging with colleagues, presenting more evidence, and seeking feedback from VPs. |
| How does Lewin’s 3-Step Model apply to Anna’s change initiative? | Anna struggled with the "Unfreeze" phase as she didn’t build sufficient buy-in, leading to resistance during the "Change" phase, and her strategy was never "Refrozen" into company practices. |
| What role did the company's cultural attachment to tradition play in resisting Anna’s proposed changes? | Aesch AG’s culture prioritized engineering and clinical quality, clashing with Anna’s market-oriented approach and leading to resistance from traditionalist VPs. |
| What was the "YZ Crisis" faced by Eli Lilly? | The impending expiration of patents on several major drugs, which threatened a large revenue loss for the company. |
| How did CEO John Lechleiter respond to the "YZ Crisis"? | Through Project Omega, which involved restructuring into five business areas, emphasizing internal R&D, and focusing on cost management without resorting to mergers and acquisitions. |
| What were some strong actions taken by Lechleiter to address the crisis? | Realigning the company, doubling down on R&D investment, and implementing cost-saving measures while retaining core activities. |
| How did Lechleiter’s background influence his leadership style? | His expertise in organic chemistry lent him credibility and allowed him to make informed decisions rooted in scientific understanding, embodying transformational and expert power. |
| According to Maslow’s Hierarchy of Needs, how did Eli Lilly maintain employee morale during the crisis? | By retaining bonuses and job security, fulfilling employees' security and esteem needs, which helped maintain motivation. |
| What was Mindray’s strategy in the Chinese medical device market? | To develop affordable, high-quality devices aimed at second- and third-tier hospitals, leveraging R&D and government support. |
| What were the main challenges Mindray faced in the U.S. market? | Regulatory hurdles, limited sales expertise, and a need for product customization to meet U.S. standards. |
| What were the pros and cons of Mindray potentially acquiring Datascope for U.S. market access? | Pros: Immediate market access, brand recognition, enhanced technological capacity. Cons: High acquisition costs, cultural integration challenges, and financial strain. |
| How did Mindray's expansion align with the Uppsala Model? | Mindray’s gradual entry into foreign markets with low cultural differences aligns with the Uppsala Model’s approach to international expansion. |
| What role did SWOT analysis play in Mindray’s global strategy? | It helped identify strengths (R&D and cost efficiency), weaknesses (sales force limitations), opportunities (emerging markets), and threats (regulatory and competitive pressures). |
| Explain the Efficiency & Adaptation model | A framework used to analyze organizational or system performance in relation to efficiency and adaptability, often represented in a two-axis matrix. lt comprises four key approaches: Global Strategy, International Strategy, Transnational Strategy, and Multidomestic Strategy. The Global Strategy: emphasizes high efficiency and low adaptation by offering standardized products worldwide, aiming for economies of scale, exemplified by Coca-Cola. The International Strategy:balances medium efficiency with medium adaptation, transferring home-country products to foreign markets with some modifications to fit local cultures. The Transnational Strategy: seeks to optimize both efficiency and local responsiveness, standardizing certain operations while adapting others, as seen with companies like Unilever. The Multidomestic Strategy: prioritizes high adaptation and low efficiency, allowing firms to tailor products and marketing to local markets, such as fast-food chains modifying their menus to meet regional tastes. |
| Explain the five reasons why a company will be resistant to change | Culture that value tradition, different perspectives and goals, lack of understanding and trust, uncertainty and self-interest |
| Difference between matrix organization structure, geographic based organization structure, divisional organization structure and functional department structure and conglomerate-based organization structure? | A functional organizational structure: Organizes a company into different departments based on areas of expertise. EX: white house A geographical organisational structure: suits businesses that have offices or units in different regions or geographical areas Divisional organization structure:a system in which a company segments its employees based on products or markets, as opposed to their job roles. EX: Apple matrix organization structure:a company structure where teams report to multiple leaders. EX: consultancy conglomerate-based organization structure: the combination of two or more business entities engaged in either entirely different or similar businesses that fall under one corporate group, usually involving a parent company and many subsidiaries. Ex: amazon |
| What is the difference between exporting and licensng? | Exporting is the process of sending goods or services from one country to another for sale or trade. Licensing is an arrangement where one party (the licensor) allows another party (the licensee) to use its intellectual property (IP), brand, or technology under specified conditions. |
| What is acquisition, Greenfield and JVs? | An acquisition occurs when one company purchases another company, either by acquiring its assets or its shares. A greenfield investment involves a company establishing a new operation in a foreign country from the ground up. A joint venture is a business arrangement in which two or more parties create a separate entity to undertake a specific project or business activity. |
| Explain Eclectic (OLI) Paradigm | Ownership advantage • Product, technology, management and org. skills, capacity surplus, econ. of scale, capital, trademarks … • Location advantage • Local resources, labor cost, government incentives, need to be near customers … • Internalization advantage • Ensure supplies at right price, high transaction costs, control over the market, protection of knowhow and company image/name … |
| What is psychic distance? | Psychic distance is defined as factors preventing or disturbing the flows of information between firms and markets in terms of differences in language, culture, political systems, level of education, levels of industrial development, etc.ʼ |
| What is psychic distance paradox? | ’Instead of psychically close countries being easy to enter and to do business in, we argue that perceived similarity can cause decision makers to fail because they do not prepare for the differences.’ |