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[MGM102H5] - Midterm Exam Guide - Comprehensive Notes for the exam (12 pages long!)


Department
Management
Course Code
MGM102H5
Professor
Dave Swanston
Study Guide
Midterm

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UTM
MGM102H5
MIDTERM EXAM
STUDY GUIDE

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MGM102 TEST 1 NOTES
PART 1
Trends currently shaping the future of business:
- The market place is becoming segmented towards niche products
- Some traditional companies may not survive radical change
- China, India and other offshore suppliers are changing the way we work
- Knowledge, not information, is becoming the competitive advantage
Types of change:
- Reactive: in response to problems or opportunities that arise
- Proactive: also, called planned change, involves making carefully thought
out changes in anticipation of possible or expected problems or opportunities
Forces for change outside the organization:
- Demographic characteristics
- Technological advancements
- Shareholder/Customer market changes
- Social and political pressures
Forces for change inside the organization:
- Human Resource concerns, e.g., job dissatisfaction
- Manager’s behaviour, e.g., excessive conflict between managers and
employees
Types of Change:
- Adaptive: the reintroduction of a familiar practice, the type of change that
has already been experienced within the same organization
- Innovative: introduction of a practice that is new to the organization, can
trigger some fear and resistance amongst employees
- Radically Innovative: introduction of a practice that is new to the industry,
can be extremely threatening to manager’s confidence and employees’ job
security.
Lewin’s Change Model:
- Unfreezing: creating the motivation to change
- Changing: learning new ways of doing thing
- Refreezing: making the new ways normal
Kotter’s Eight Steps for Organizational Change:
1) Establish a sense of urgency
2) Create the guiding coalition
3) Develop a vision and a strategy
4) Communicate the change vision
5) Empower broad-based action
6) Generate short – term wins
7) Consolidate gains and produce more change
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8) Anchor new approaches in the culture
Steps 1 – 4 represent unfreezing
Steps 5 – 7 represent changing
Step 8 represents freezing
Organization Development is a set of techniques for implementing planned
change to make people and organizations more effective.
It can be used for adapting to mergers, managing conflict, and revitalizing
organizations
The Organizational Development Process:
- Diagnosis: what is the problem?
- Intervention: What shall we do about it?
- Evaluation: How well has the intervention worked?
OD has been found to be successful under the following circumstances:
- Multiple interventions
- Management support
- Goals geared for both long and short term results
Invention is creating something new
Creativity is the act of developing new and imaginative ideas into reality
Innovation is creating new ideas and converting them into useful applications
Myths about innovation:
- It happens in a Eureka moment
- It can be systematized
An organization’s ability to learn from failure is reduced when employees:
- Play the blame game
- Suffer self-serving bias
- Are reluctant to experiment
- Are afraid to discuss failures and take risks
Seeds of Innovation:
- Hard work with a specific direction
- Curiosity
- Wealth and money
- Necessity
- Combination of all seeds
Types of Innovation:
- Product: a change in the appearance or performance of a product or service
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