History Quiz / General Management Revision 2

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Can you name the General Management Revision 2

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3 dimensions of power (1974)
As innovations develop, firms shift from design competition to price competition (e.g. lightbulb) (1978)
World is semi-globalised – not level playing field. Boundaries include culture differences, administrative, geographic and economic (i.e. inequality).
Purpose of managerial work is to maximise employee efficiency (1995)
Porter’s ideas not scientific (Popper) and unhelpful practically (2005)
Introduced transaction costs. (imperfect information) (1937)
Uselessness of prediciton - in 1980 McKinsey told AT&T that the world market for mobile phones was 900000 (2004)
Organisations are superior to markets as they can exploit human capacity (1996)
Culture can improve performance if it is aligned to the business environment (1996)
Successful culture can improve productivity by 1 or 2 hours (1982)
CEO pay has increased due to the increased use of peer groups and benchmarking (2011)
Manager must understand new technology to maintain credibility (1996)
Fordism - 'task cycle' of an individual worker drastically reduced - cost minimisation (1990)
Lean production is next stage of scientific management: it represents a retreat from extremes of specialisation and standardisation (2003)
No universal marketing theory due to human complexity (1974)
Criticised TCE - even post merger, opportunism will exist (1996)
Consultants can exploit managers' vulnerability/uncertainty. Managers conversely can use consultants as scapegoats (1997)
Substantial change in nature of managerial work represented by a shift from vertical to horizontal power relationships (1989)
Bounded rationality leads to transaction costs. (1981)
Looked at introduction of ICT to an organisation. Information overload problem. (2012)
Anyone can call themselves a management consultancy. Consultants struggle to separate personal interests from job (opportunism) (1982)
Firms that treat their supply chain as a strategic asset achieve 70% higher performance (2012) e.g. Zara
Described professionalisation - full time, formal training, standardised body of knowledge, establishment of code of ethics (1964)
Due to extreme price competition in China corners may be cut. (2008)
Described Taylorism as INDIVIDUAL approach and Fordism as a WHOLE SYSTEM approach (1990)
Possessions linked to sense of self (1988)
Mintzberg - management as it is. Fayol – as we would wish it to be (2004)
Said that Taylorism served as a tool to decrease power of workers/dehumanise them (1974)
Believed that Chandler failed to consider potential future development of business.
Most successful organisations don't use formal planning (1978)
Taylorism - Shift of power from workers, who do, to managers, who think(1997)
Management is ‘culturally specific’ (1993)
Consultants see trends; develop rhetoric, and sell ASAP (1996)
Described Honda success in US markets which was assumed to be based on planning but was more based on adaptation. (1996)
Empirical evidence that established firms struggle to adapt to technological advancement (e.g. Kodak). ‘Core competencies’ become ‘core rigidities’. (2000)
Firms don’t compete with firms. – supply chains compete with supply chains. (1994)
Amazon's 'mechanical Turk'. Modern Fordism (2006)
Founder of TPS that said it was based on scientific management
Streamlining of global supply chains means that there is increased competition through branding (2006)
Differences in governance between Britain US etc. (1999)
Formalist economic theory is 'basically platonic - pure, timeless valid under all circumstances, and highly abstrac (2002)
Technology can be sustainable of disruptive (2003)
With Hawthorne experiments found that employee engagement is a better way to motivate than financial incentives
Each organisation has three cultures: operators, engineers, executives (1984)
Sharing of information is key to an effective supply chain (2009)
Firms need to look to the future when making operating decisions and decide on two or three capabilities which they want to develop to have sustained competitiveness (1994)
Structure follows strategy - eg strategy of diversification leads to structure of multidivisional firm (1962)
Culture change is difficult because of multiple layers such as the universal culture, sub-cultures and constantly changing (1987)
Five forces. Positioning company against competition. (1979)
Not true that product differentiation and cost reduction are mutually exclusive (1993)
Successful cultures are distinct and not easily imitated (1986)
Younger companies have less ingrained cultures and so are more easily changed (1985)
Call centre assembly line - service sector efficiency (2000)
Power is not wielded by an individual or group but dispersed and subject-less (1976)
Increase in CEO pay linked to increase in managerial influence and power (2002)
Culture can influence strategy through ethics, flexibility and subcultures (i.e. conflict avoidance) (1995)
Principle based system of operations
Power of brand curtails choice, enforcing ‘grey cultural homogeneity’ (2000)
Management controls boundaries of firm (1984)
Sony were VCR innovators but out competed by JVC after pre-paradigmatic stage due to production power
Profitability is firm-specific not based on industry. (1991)
Consultants achieve economies of knowledge which have value (2007)
In their simplest sense brands provide a guarantee of quality and reliability (2001)
HintAnswer
Outside CEOs paid more than inside CEOs therefore managerial influence not prime reason for increase in pay (2004)
Chandler neglected the forces of competition (2010)
long term forecasts are 'fundamentally useless' (1993)
Performance pay important as it aligns interest with organisation (1997)
Market to consumer's needs and desires (1960)
Culture - either something an organisation has or is: if 'has' then more changeable than 'is' (1994)
Strong culture: unites organisation but also inflexible (1994)
McDonaldisation (homogeneity, rationality, standardisation) of society could reflect Fordism (2008)
Formal power is based on position within organisation – personal power comes from individual’s unique skills. (2007)
Science undergoes a process of ‘paradigm shifts’ and progresses through these (1962)
Market Politicisation - consumers voting with their dolla (2005)
Hierarchical or compressed pay structure. (1999)
For profitability firms should invest in appropriate technologies that are easy to protect and are produced with complementary assets (1986)
Workers seen as technological capital rather than human capital (1997)
Brands become iconic by exploiting social dependencies (e.g. Nike just do it) (2006)
To develop competitive advantage, firms must find an effective strategic position and fit within a market (e.g. southwest airlines) (1996)
Note that in S&P 500 average ratio of CEO to average worker is 204 (2013)
Cheap Chinese labour becoming less viable as the country sees similar union movements to those of 1900s Britain. (2012)
From 1980-2003: 6-fold increase in executive compensation and market capitalisation (2008)
Technology - computers take up jobs e.g. Snapchat worth $2bn with just 35 employees (2011)
Employees should be able to use their intitiative and be involved in decision making (1949)
Define culture: pattern of beliefs, shared expectations and norms that shape behaviour (1981)
Described the deep consumer-brand relationship. Emotions such as love and passion can be evoked – detachment if the product is removed. (e.g. ‘coke=happiness’ ‘LG=life’s
Culture is a combination of artefacts, values and assumptions (1984)
Complex contracts are costly and agents can act opportunistically. (1981)
Power comes from being in the right place (position/formal) not personal. (1981)
Stock options provide long term incentive for managers (1990)
Notes emergence of universal corporate culture (1997)
Development of culture stems from leadership (1984)
Described how Ford reduced Model T production time from 8.56 hours to 2.3 minutes, and then to 1.19 minutes with a conveyer belt (1990)
Marketers do not create needs but influence wants (2002)
Most important thing in terms of competitive advantage is a firm's distinct capabilities (1993)
Operational effectiveness is not strategy and simply leads to mutually destructive competition (1996)
Strength of culture determined by stability of group and intensity of shared experiences (1984)
Criticised Chandler for overlooking political issues e.g. Sherman Antitrust Act of 1890 (broke up monopolies) (1980)
Lean production is a high risk high reward strategy as it can leave companies vulnerable to supply shocks (1988)
Consultants engineer new problems which they already have a solution to creating a dependency relationship with firms (2002)
Leaders change culture (1983)
Rise in small management consultancies - low fees/use of ex-McKinsey employees (2013)
Said CSR is future of business, what companies must do to survive where more behaviour is under the microscope.
Empirically showed that managers with a 'need for power' were more successful (1976)
Advertising seeks to create needs rather than fulfil them; to create new anxieties rather than allay old ones. (1978)
Criticised Porter's model as it focusses on power and ignores cooperation (2005)
3 fallacies of strategic planning - predetermination, detachment and formalisation (1994)
People impose identity onto possessions and vice versa (1988)
Fayol theorised about managerial work rather than what it is in reality. (2010)
Managerial work driven by rationality, historical traditions, and research (1995)
Example of low cost producer that charges higher prices thus conflicting with Porter's generic strategies
Technology is 'the processes by which an organisation transforms labour, capital, materials and information into products and services of greater value' (2003)
Brands are designed as the interface between consumer and product e.g. Uncle Ben's (trust) (2001)
Apple factory use a Tayloristic approach e.g. workers monitored through CCTV (2012)
CEO to average pay ratio has increased from 40 to 110 across all industries (2007)
Said CSR undesirable and dangerous by deflecting business from primary purpose (profit)
Process technology (tools and devices) produce Product technology (e.g. iPhone) (1996)
Technology doubles every 2 years – first a measure but then became a driver of technological change (Intel) (1965)
Strategic planning is inflexible (1998)
Chandler neglected the importance of social factors (1997)
Discuss faddish cycles within management consultancy: 'adaptive emulation' (2001)
Management consultants transmit fads to enlarge the existing base of knowledge (1982)
Describes rational planning – preparations are made based on expectations of future challenges (1985)
Firms need to consider the type of product they are producing when making supply chain decisions (1997)
Brand loyalty – a brand commands trust through heritage or innovativeness and can facilitate the approval of others. (2000)
Humans are complex. 4 consumer behaviours – economic, responsive (to stimuli), social, psychological (emotional). (1980)
HintAnswer
Humans can be ordered into ‘complex organisations’. Whole is greater than sum of parts. (1995)
Brands are powerful enough to transform water, a free public good, into a high priced commodity. (2006)
Over ¼ of an average worker’s day spent on emails. (2012)
Most easily manipulated people are children - until age of 8 children can't distinguish between entertainment and advertisement (2012)
Globalisation makes world a level playing field (thanks to internet, fall of communism etc) (2005)
Motivation is dependent upon meaningfulness, responsibility and knowledge of results (i.e. not necessarily pay) (1975)
Management performs best when it can adapt to unexpected problems (1998)
Supports Porter - model highlights role of business in creating value (2002)
Key to culture change is combining theory E and theory O e.g Jack Welch (2000)
Described 10 roles of managers: INTERPERSONAL, INFORMATIONAL, DECISIONAL (1975)
Compare deliberate and emergent planning - deliberate plans are 'realised as intended'; emergent plans are 'realised despite...intentions' (1994)
Management consists of planning, organising, coordinating, commanding and contolling (1916)
Transaction costs can be reduced through developing better supply relations e.g. Toyota (2002)
Argues that emphasis on marketing over quality requires poor production quality (shift of manufacturing to 3rd world shows idea is more important than product.) (2000)
Described fads as simple, prescriptive, easy to copy, and legitimised by gurus (2002)
Argue that competitive advantage lies with core competency (1990)
Culture change risky because it could dishearten potentially cynical employees (1997)
Culture is intangible and thus hard to change (1996)
A company creates brand equity through AUTHORITY, IDENTIFICATION, and APPROVAL (2000)
Hierarchy of needs (1943)
Describes risks of multinationalisation: political e.g DPRK, religious, legal, corruption. (2005)
The modern corporation is a legal institution and thus can only be justified if it furthers desirable socioeconomic goals (2002)
only social responsibility of a company is to shareholder (i.e profit) (1970)
A has power over B to the extent that s/he can get B to do something that B would not otherwise do (1957)
Assembly line, simplification of work. Unskilled yet hard work.
Focused factory where specialised plants re designed to make a certain group of products are more efficient (1974)
External cultures e.g. national also influence culture (1994)
Describe rise in use of stock options of S&P 500 from 1992-2000: $11bn to $119bn (2003)
Through study of microchip introduction they examined how a manager might successfully implement technological change. Methods include gradual implementation and proper training. (
AAA framework of how to internationalise: adaptation, aggregation and arbitrage
Scientific management served as a power tool for managers over workers (1974)
Said that lean production and scientific management are unrelated because lean production takes a more humanistic approach (1994)
Social contract between business and society (1989)
Talk about two types of uncertainty with management consultancy: institutional and transactional (2003)
5 types of power: reward, coercive, referent legitimate, expert. (1959)
Consultants 'create a niche and persuade clients that they are within it' (1995)
Culture promotes consistency of outlook (unified motivations) and helps individual decision making. (1994)
Firms focus on developing the dominant design in the pre-paradigmatic stage of innovation development (1986)
Production line approach to service where service based firms focussed on efficiency and use a manufacturing approach e.g. McDonalds (1972)
Enterprise with clear sense of purpose more likely to be successful than guesswork and chance (1978)
Note scarcity of top CEOs (2008)
Society controls technological advancements through deciding whether to accept innovations e.g. Edison modelled electric lighting system on existing gas system due to familiarity
Specialist consultants often prove to be value for money by solving specific problems using specific expertees
Technological determinism model too reductionist
Discussed role of religion providing capital for many business ventures in Northern Europe (1920)
4 types of culture: power, role, task and people (1995)
Use example of BPR as a detrimental fad - downsizing -> job losses and low morale (1998)
Taylor and Ford both ignored emotional side of workers (1999)
National culture differences act as barriers to multinationalisation. (1980)
Scientific management; efficiency. Most suitable man for each task. Enure equal division between worker and manager (1911)
Describes Toys R Us joint venture with McDonalds Japan in order to understand business in Japan.
Theory only true if some observation could disprove it. (1972)
No difference between culture and strategy - both provide continuity and identity (1985)
Middle ground - managerial work is based on the accumulation of various theories. (2006)
Honda’s experimentation not suitable for all companies and relying on chance for success is not helpful to managers. (1996)
CEO pay has increased due to increasing size and complexity of companies (2008)
Barriers to technology - uses example of new medical technology that would improve performance but was rejected because doctors lacked computer skills (2004)
Proposed a definition for corporate purpose: Rather than merely making money, it is to create and keep a customer. (1960)
Culture emerges from social interaction therefore to change requires a change of people (1988)
Describe first mover advantage - innovators reap most profits (1988)
Described history of the firm (1984)

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