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Final

COMM 210 Final: COMM210 Final Theorists W17
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10 Pages
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Winter 2017

Department
Commerce
Course Code
COMM 210
Professor
Michael Masters
Study Guide
Final

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MIDTERM:!UP!UNTIL!COLLINS-&-PORRAS!
FINAL:!NO!ZALEZNIK?!
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2-KEY-CONCEPTS:-
1.-Economies-of-scale:!as!production!increases,!costs!!
!!!!!decrease!!doing!things!@!a!bigger!scale!reduces!costs!
2.-Economies-of-scope:!large!plants!can!use!the!same!raw!!
!!!!!materials!&!production!processes!to!produce!various!!
!!!!!products!
!
3-MAJOR-CLAIMS:-
1st-mover!organizations!invest!in:!
1. National!&!int’l!marketing!distribution!functions!
2. Teams!of!lower!&!middle!managers!
3. R&D!(Innovation!&!strategy)!
*Require!both!economies!of!scale!&!scope!
!
Successful!firms!capitalize!on!economies!of!scale!&!scope;!
they!have!a!functional!management!structure!and!invest!
in!R&D!&!grow!from!related!diversification.!This!will!allow!
them!to!stay!ahead!of!competition.!
-
SECONADRY-CLAIMS:-
1.
Once!a!firm!loses!the!opportunity!to!B!a!1st!mover,!
it’s!difficult!to!regain!its!competitive!advantage-
2. Entrepreneurial!companies!that!don’t!invest!to!
create!organizational!capabilities/specialties!
cannot!achieve!long-term!success.-
3. Growth!through!unrelated-diversification-is!a!
poor!corporate!strategy-
4. Business-ownership-patterns!have!diminished!the!
likelihood!of!many!firm’!long-term!success-
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Managerial-enterprise:!Making!necessary!investments!in!
management,!production!and!distribution!in!order!to!
capitalize!in!economies!of!scale!and!scope.!
R&D:!New!technologies,!improving!quality!(innovation)!
Management-hierarchy:-separation!of!upper!and!lower!
level!management!
Chandler!
EAR-–-Evolution-&-Revolution-as-Organizations-Grow-
MAJOR-CLAIMS:!
1. Organizational!growth!occurs!through!a!series!
of!evolution!&!revolution!phases!(5)!that!R!a!
function!of!the!age/size!of!the!organization!
2. Management!practices!that!work!well!in!1!
phase!bring!on!a!crisis!in!the!next!
!
In!order!for!a!company!to!be!able!to!progress!and!move!
on,!it!must!go!through!phases!of!evolution!and!
revolution!and!constantly!be!changing!its!organizational!
structure.!
By!implementing!the!right!strategies!&!managerial!
structures,!firms!can!resolve!the!crisis!and!move!on.!
!
KEY-CONCEPTS:-
Age!of!organization!
Size!of!organization!
Stages!of!evolution!
Stages!of!revolution!
Growth!rate!of!industry!
Management!style!
Organizational!structure!
!
*!Each!phase!begins!with!a!period!of!evolution!and!has!
its!moments!of!stability!and!growth!but!eventually!ends!
with!a!revolutionary!period!
*!Management!practices!that!work!well!in!one!phase!
can!bring!crisis!&!chaos!in!another!
!
Greiner!
SOLUTIONS-TO-CRISIS:-
1.!Find!strong!manager!with!
knowledge!&!skill!to!lead.!
2.!Work!
3.!Special!coordination!
4.!Collaboration!
5.!?!
SECONDARY-CLAIMS:-
1.!Organizations!should!not!
try!to!skip!phases.!
2.!Top!managers!whose!
style!is!no!longer!
appropriate!should!remove!
themselves!
3.!Growth!is!not!inevitable!
!
! !
In!order!to!explain!a!firm’s!success,!strategists!need!to!
analyze!the!implications!of!its!internal!strengths!&!
weaknesses!–!a!complete!analysis!of!its!competitive!
environment!is!insufficient.!
Four-Important-questions-about-resources-and-capabilities-(VRIO)-
1.!The!Question!of!Value:!Does!a!firm’s!resources!&!capabilities!enable!it!to!exploit!an!opportunity,!
&/or!neutralize!it?!
2.!The!Question!of!Rareness:!How!many!competing!firms!already!possess!these!valuable!resources!&!
capabilities?!
3.!The!Question!of!Imitability:!Do!firms!without!a!resource!or!capability!face!a!cost!disadvantage!in!
obtaining!it!compared!to!firms!that!already!possess!it?!
à
-There-are-3-reasons-why-resources-can-be-hard-to-imitate:-
4.!The!Question!of!Organization:!Is!a!firm!organized!to!exploit!the!full!competitive!potential!of!its!
resources!&!capabilities?!
a.!Historical-conditions:!Valuable!&!rare!resources!acquired/!
developed!through!unique!historical!circumstances!can!be!costly!to!
imitate!&!thus!a!source!of!sustained!competitive!advantage.!
b.!The-importance-of-numerous-
small-decisions:!A!firm’s!competitive!
advantage!seems!to!depend!on!
numerous!“small!decisions”!through!
which!a!firm’s!resources!&!
capabilities!are!developed!&!
exploited.!
!
c.!The-importance-of-socially-complex-resources:!The!resources!and!
capabilities!that!are!based!on!a!companys!culture!or!interpersonal!
relationships!(reputation,!trust,!friendship,!teamwork,!&!culture,!
while!not!patentable,!R!more!difficult!to!imitate).!
MAJOR-CLAIMS:!
!
1.!A!frim!will!have!a!sustained!competitive!advantage!if!its!resources!&!capabilities!are!valuable,!rare,!!
!!!!inimitable,!&!organized!in!a!way!that!allows!it!to!exploit!new!potential!opportunities.!
2.!A!firm!will!be!successful!if!it!has!resources!with!the!right!attributes!and!characteristics.!
3.!A!complete!understanding!of!sources!of!competitive!advantage!requires!the!analysis!of!a!firm’s!
internal!strengths!&!weaknesses!as!well.!
!
*!A!firms!resources!&!capabilities!include!all!its!assets!
used!to!develop,!manufacture,!&!deliver!products!or!
services!to!its!customers.!
!
Assets:-
Financial:!debt,!equity,!retained!earnings,!etc.!
Physical:!machines,!manufacturing!facilities,!
buildings.!
Human;!experience,!knowledge,!judgement,!
wisdom.!
Organizational:!history,!relationships,!trust,!
culture,!formal!reporting!structure,!patents,!etc..!
!
Jay-Barney-

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Description
MIDTERM: UP UNTIL COLLINS & PORRAS FINAL: NO ZALEZNIK? Chandler Greiner 2 KEY CONCEPTS: EAR – Evolution & Revolution as Organizations Grow 1. Economies of scale: as production increases, costs MAJOR CLAIMS: decrease – doing things @ a bigger scale reduces costs 1. Organizational growth occurs through a series 2. Economies of scope: large plants can use the same raw of evolution & revolution phases (5) that R a materials & production processes to produce various function of the age/size of the organization products 2. Management practices that work well in 1 phase bring on a crisis in the next 3 MAJOR CLAIMS: 1 -mover organizations invest in: In order for a company to be able to progress and move 1. National & int’l marketing distribution functions on, it must go through phases of evolution and 2. Teams of lower & middle managers revolution and constantly be changing its organizational structure. 3. R&D (Innovation & strategy) *Require both economies of scale & scope By implementing the right strategies & managerial structures, firms can resolve the crisis and move on. Successful firms capitalize on economies of scale & scope; they have a functional management structure and invest KEY CONCEPTS: in R&D & grow from related diversification. This will allow • Age of organization them to stay ahead of competition. • Size of organization • Stages of evolution SECONADRY CLAIMS: • Stages of revolution 1. Once a firm loses the opportunity to B a 1 mover, • Growth rate of industry it’s difficult to regain its competitive advantage • Management style 2. Entrepreneurial companies that don’t invest to • Organizational structure create organizational capabilities/specialties cannot achieve long-term success. * Each phase begins with a period of evolution and has 3. Growth through unrelated diversification is a its moments of stability and growth but eventually ends poor corporate strategy with a revolutionary period 4. Business ownership patterns have diminished the * Management practices that work well in one phase likelihood of many firm’ long-term success can bring crisis & chaos in another Managerial enterprise: Making necessary investments in management, production and distribution in order to capitalize in economies of scale and scope. R&D: New technologies, improving quality (innovation) Management hierarchy: separation of upper and lower level management SOLUTIONS TO CRISIS: SECONDARY CLAIMS: 1. Find strong manager with 1. Organizations should not knowledge & skill to lead. try to skip phases. 2. Work 2. Top managers whose 3. Special coordination style is no longer 4. Collaboration appropriate should remove 5. ? themselves 3. Growth is not inevitable Jay Barney MAJOR CLAIMS: 1. A frim will have a sustained competitive advantage if its resources & capabilities are valuable, rare, inimitable, & organized in a way that allows it to exploitn ew potential opportunities. 2. A firm will be successful if it has resources with the right attributes and characteristics. 3. A complete understanding of sources of competitive advantage requires the analysis of a firm’s internal strengths & weaknesses as well. * A firm’s resources & capabilities include all its assets used to develop, manufacture, & deliver products or services to its customers. Assets: • Financial: debt, equity, retained earnings, etc. • Physical: machines, manufacturing facilities, buildings. • Human; experience, knowledge, judgement, wisdom. • Organizational: history, relationships, trust, culture, formal reporting structure, patents, etc.. In order to explain a firm’s success, strategists need to analyze the implications of its internal strengths & weaknesses – a complete analysis of its competitive environment is insufficient. Four Important questions about resources and capabilities (VRIO) 1. The Question of Value: Does a firm’s resources & capabilities enable it to exploit an opportunity, &/or neutralize it? 2. The Question of Rareness: How many competing firms already possess these valuable resources & capabilities? 3. The Question of Imitability: Do firms without a resource or capability face a cost disadvantage in obtaining it compared to firms that already possess it? à There are 3 reasons why resources can be hard to imitate: a. Historical conditions: Valuable & rare resources acquired/ b. The importance of numerous developed through unique historical circumstanc es can be costly to small decisions: A firm’s competitive imitate & thus a source of sustained competitive advantage. advantage seems to depend on numerous “small decisions” through c. The importance of socially complex resources: The resources and which a firm’s resources & capabilities that are based on a company’s culture or interpersonal capabilities are developed & relationships (reputation, trust, friendship, teamwork,& culture, exploited. while not patentable, R more difficult to imitate). 4. The Question of Organization: Is a firm organized to exploit the full competitive potential of its resources & capabilities? *Remember the fallacies!!! Collin & Porras BEHAG*********BE Vision : provides guidance about what core to preserve and what Futu re to simulate progress toward. Core ideology Discovering Core Ideology: Enduring character of an organization and is the source of guidance and (You do not set it, you discover it) inspiration. It is the glue that holds the organization together as it grows, diversifies, and expands globally. It is the consistent identity of the organization that transcends the product or market life cycles. àNeeds to be authentic. Its role is to guide and inspire. à Needs to be meaningful and Core values: Beliefs about what is important. Small set of timeless guiding principles. inspirational only to people inside the organization because they need to Company should not change core values in response to market change. commit to the ideology over the long Core purpose: (reason for existing ) term. The organization’s reason for being people’s idealistic motivations for working at the company. à Not a goal or business strategy . * A clear and well-articulated ideology Core purpose is to guide and inspire. attracts people whose personal values are compatible with the company’s core values. Envisioned future: à Core values & core purpose: 1. BHAG (big hairy audacious goal). attract & retain those people. 2. Vivid Description (what it will be like to achieve goal). Core ideology ≠ core competence BHAG: Engages people- it reaches out and grabs them. It is tangible, energizing, highly focussed. Vision level BHAG: - Applies to the entire organization and requires 10- 30 years to complete - Setting the BHAG that far into the future requires thinking beyonf the current capabilities of the organization and the current environment. BHAG should not be a sure bet, 50-70% success rate. Organization must believe that it can reach the goal. Vivid description Vibrant, engaging, and specific descripti on of what it will be like to achieve BHAG. Must translate the vision from words to image that people can carry around in their heads. Passion, emotion, and conviction are essential parts of the vivid description. Hertzberg - KITA 2-factor theory: 1. Hygiene factors: Needed to ensure an employee does not become dissatisfied. They do not lead motivation, but without them, there is possibilities of dissatisfaction. Ex. Working conditions, qulity of supervision, status, security, salary, company policies, interpersonal relations. 2. Motivation factors: Needed to motivate an employee into higher performance motivators are the primary source of satisfaction. Ex. Achievement, responsibility, growth, advancement for higher level task, interest in job, recognition for achievement. Negative KITA (Kick In the Ass) – when some1 stands over your shoulder – stresses U out Positive KITA – Do something for me & I’ll give U something 4 it Some S eps 4 Job Enrichment • A good manager knows when 2 Combining hygiene & motivation factors 1. High hygiene & high motivation: Ideal situation where employees are highly motivated and have few complaints. 2. Hygiene & low motivation: Employees have few complain ts but are not motivated. Job seen as paycheck. 3. Low-hygiene: Employees are motivated but have lots of complaints. A situation where job is exciting and challenging but salaries and work conditions are poor. 4. Low-hygiene & low motivation: Unmotivated employees with lots of complaints. Job Loading Job enlargement Horizontal job loading: Horizontal job enlargement : Widening the range of - Adding tasks to a job but not responsibilities. jobs at the same level in the organization and - The meaning of the job is simply increased. adding them to the existing job. Hertzberg says there is little motivation value in this approach. Vertical job loading: - Adding meaningful tasks that will lead to Vertical job enlargement (Job enrichment): growth. Provides employees with more task to do as a part - Additional tasks that permit growth and of the job and gives them the responsibility and provide motivating factors. authority needed to complete the task. - Gives people responsibility for the complete process of the task. Job rotation - Make information directly available to employees rather than send it through their managers. Planned rotation of staff between jobs to alleviate monotony (lack of interest and - Enable people to take on new, more difficult tasks they haven’t before. variety) and provide a fresh job challenge. Hertzberg says it is likely to improve job à Employees gain an enhanced sense of satisfaction but unlikely to create positive responsibility and achievement, along with new opportunities to learn and grow. motivation. French & Raven - CLERR Theory that identifies 5 bases or sources of social organizational power. 1. Coercive power: is the 5. Referent power: is the influence understanding that one has the ability to punish other for not one has on others from being well liked or respected by others. complying. 4. Reward power: is the ability to 2. Legitimate power: is based on the compensate another for their
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