History Quiz / General Management Revision 2

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Can you name the General Management Revision 2

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

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