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Management lecture Jan 31st Mount Everest Case Study Notes.pdf

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Department
Management
Course
MGM102H5
Professor
Dave Swanston
Semester
Winter

Description
Management lecture Jan 31st Mount Everest Case Study Notes Why do people choose to climb Everest? – risk seeker – achievement – recognition – competition – Prestige and Status – overcome a challenge – push personal boundaries- test yourself – to challenge themselves – “bucket list” – have money – to be famous, to brag about it (was important to Fisher) – risk takers – self fulfillment- push themselves to the next level (higher level sense of satisfaction, satisfy that need by climbing) – over coming a challenge – competition – adrenaline junkies (people who want the high of putting their lives on the line) – want to be the first _____ (sex, gender etc) to climb mount everest – some are getting paid for it – want to over come failure, want to keep going till they accomplish it – prestige and status – educational purposes, want to learn about the environment, conditions – pride for their country, representation – push yourself to see what you’re capable of, self development – about the control “i’m the boss, I’m in charge, do not challenge me, no room for descent” – can satisfy these needs without climbing the dangerous mountain, some can only be accomplished by climbing the highest mountain though – pete shoening- already climbed before, wanted to do it again to be the oldest person up there, take his nephew up – must be able to recognize everyone has a different agenda, work around them so everyone can work towards the same goal What personal qualities does it take to be successful? – perseverance – ambition – confidence – self- determination – independent – foresight- good decision maker – cooperation – set boundaries and self limits – rational – will power – discipline – preparation and conditioning – patience – assertive – good communicator – analyze and evaluate risk – courageous – prepared for failure – emotional management – intuition – offer voice opinion – good planning and strategy – practical – everyone has to take on their own role, not everyone can be a leader What were the causes of the tragedies in the case? – didn’t stick to time limit (both parties) – lack of trust in themselves and leaders – lost confidence in their plan – didn’t have enough oxygen in the first place – lack of communication – ex. assumed the other team already installed ropes when they didn’t – poor judgement – didn’t collect the facts and made poor judgement – sunk cost biased – get moneys worth – not rationa
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