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We are what we have
Friedman is wrong - Corporation is creation of law, so only justified if further social/economics goals
Can be damaging if you cannot achieve strict objectives but continue to pursue plan anyway
Role of managers has undergone substantial change; relationships more horizontal than as vertical as they were before
Dell bypasses retailers and sells directly to consumers (reducing unnecessary supply chain links)
Consumer-brand loyalty is more that just repeat purchases - it's a deep relationship
Tech alters how we think of managers; when technology evolves, they need to show competency and cognitive ability
Strategic planning, by its very nature, is inflexible
Fallacies of predetermination, detachment and formalisation
Socially responsible supply chain is not a competitive advantage, but lack of one is a competitive disadvantage
Firms in consumer durables industry could follow both strategies, but ones that only followed one performed better
Doing business in other countries may require conformity (looks bad), e.g. __________ employed gender separation in Saudi Arabia
There is nothing rigid or absolute in management affairs
Duchess of Cambridge dress example - high street store could have sold 30,000 dresses if it had a flexible supply chain
Grand corruption harms growth prospect of home countries
Hawthorne studies found that sci. man. does not always improve productivity.
Good culture can directly improve productivity by 1 or 2 more productive hours of work each day
Underlying goal of mgmt is profit maximisation but underlying goal of science is knowledge development - so can management ever really be a science?
Advertising can only shape people's lives in affluent society/where incomes loom large
Faddish cycles occur within Management Consultancy - 'adaptive emulation'
Staying too close to customers can be bad; miss new markets, e.g. IBM missing minicomputer emergence and Apple missing laptop emergence
Organisations learn when individual make learned information available to everyone
Businesses should concentrate on meeting customers' needs and not not selling products (myopically)
Staying at the artefacts level does not change assumptions
example of Bullwhip effect; ________ sold out at Chrsitmas, and then over ordered for next season
Streamlining of global supply chain makes it harder to garner a competitive advantage, so brands used as another inimitable means as competitive advantage
Mistake to think only things expressed in maths are relevant - losing touch of what we are trying to improve
Process and Product Technologies
Management is not a profession since anyone can practise as an MC without an official/legal qualification
Study of 5 CEOs found that 50& of managerial activities take less than 9 minutes
Both transactional and institutional uncertainty with consultancies
Applies principal-agent problem to Management consultancies
Japanese name for 'pulling the cord' on the production line
BPR is intrinsically violent
Paradigm shifts make old theories antecedent - knowledge progresses cumulatively until shift
Organisational learning is not just a mere magnification of individual learning
Coca Cola is the second most recognised term in the world, after Hello
Companies that treat supply chain as strategic asset achieve 70% higher performance
Depicts entire value chain from supplier to customers. Simply determines how value pie is divided up
Workers seen as extension of the technological capital of a firm, which gives rise to dehumanising social costs
Formalist economic theory is 'timeless, valid under all circumstances'
Main reason for success of multidivisional firm was that managers were removed from routine activities and had time for planning
no longer firms competing against firms, but supply chains against supply chains
Over 1/4 of a worker's day is spent reading/answering emails
wanted to overthrow management by 'rule of thumb' by finding the 'one best way'
CAGE Distances: Cultural, Administrative, Geographic, Economic
Applied TCE with bounded rationality
'Stuck in the middle' being bad is clearly false
Should use code of conducts in supply chain
Role of managers has not changed - still obtain information verbally
Ford's system welded the individual labourers into a human machine
Appealing to a context matters, gives something to hang your brand on, e.g. taking something local and going global, e.g. Tennessee whiskey
2 views on internet: makes hierarchy more flat (networked) or increases managerial control (surveillance)
Agrees that organisations learn when information is made available to everyone, but it is hard to distribute tacit knowledge
According to Blair et al (2013), Average CEO pay to worker is _________ in S&P 500
MNCs must consider political risk, e.g. (Burma - Massachusetts state law)
Study found that workers more likely to continue working if they felt a sense of purpose/see what they are achieving
'New orthodoxy' on importance of cooperative networks in supply chain
____ continued with plan to set up new automated distribution centre when the first ran into problems
Consider the type of product you are selling, i.e. staple product or more variable demand....lean/buffered
Social Democratic European systems = high proportion of family owned businesses because of agency costs of needing managers who are more interested in employ welfare than profit (g
Culture is socially constructed (but not deliberately). It is formed and changed through conversation and perception
A business enterprise guided by a clear sense of purpose are more likely to be successful than a company whose future is left to guesswork and chance
______ has '20% Time' initiative - 1 day a week working on project not directly related to business
Markets work since all information captured in price (e.g. Pencil Analogy)
Management is culturally specific
Companies can become too lean,i.e. 'corporate anorexia'
Difficult to change national culture since it is embodied in minds and institutions
Both Mintzberg and Fayol are right - mgmt as it is, and mgmt as we would like it to be
_____ tried 3 methods before settling on single-detail page model
Solution to the Bullwhip effect: More information flow
5 elements of Managerial Work - Planning, Coordinating, Controlling, Commanding and Organising
Porter's ideas had enormous staying power, in a field where fads and fashions are common
Moore's law and recognition technology means that employment is in danger
Aim of marketing is to turn a private or social need into a profitable business opportunity
Differences in local environment affect strategy (e.g. German environment - laws protect employees by limiting opening hours)
Analysed boundaries of firm and introduced transaction costs
Culture linked to profession (law/engineering think differently)
TQM experienced boom period in 90s, then fell from 2nd 13th place on reputation table
HintAnswer
The Honda Effect - where formal strategic planning is retrospectively attributed to actions where no strategy existed
_______ never have sales as they don't order for the season (so they never have to clear out inventory)
Single-loop and double-loop learning
Computers in hospitals resisted by computer-literate - change therefore only works for those who are willing/able to learn
____ reduced soldiering
criticizes 'narrow mathematical focus'
Deskilling of workers justified as increasing output/decreasing costs. In reality, it just makes workers more expendable
Firms develop culture through their history; firms are 'historically bound'
Differences in national culture can affect organisational culture
Bounded Rationality
Environmental impacts of JIT, e.g. in Japan
Wrote maths-oriented 'economics' in 1948, gives rise to neo-classical economics
______ had to recall 3 million microwaves, refrigerators and tumble dryers in 2007 because they shared a common electrical part prone to overheating
Need long-term relationships with suppliers, e.g. Apple investing in Foxconn employees
Workers need 'internal motivation' for Long term commitment - not just motivated by economic incentives - differential pay can actually be demotivating
Ford's Factory was largest in the world - 80$ were immigrants
RBV = How. 5F = Where.
Social responsibility of business is business
Hierarchy of needs
Working in Amazon's distribution centre was like 'working in a slave camp' (according to a former employee)
Potentially easier for smaller companies to create brands, as when you get bigger, you have to standardise; appealing to a larger group of people is harder
Japanese firms don't like single strategy - focus is at the expense of peripheral vision
World is semi-globalised
Tech Hype Cycle: Intense Hype, Trough of Dillusionment, Plateau of Productivity
Long term forecasts are fundamentally useless (due to inaccuracy)
Compares Corporate governance across different countries
Under age 8, children absorb everything and are not critical
Within their teams, employees trained to do all tasks expected of a team - easier to find improvements
All occupations are becoming professionalised
Can distribute tacit knowledge through discussion
Middle ground in view of change in role of manager - e.g. will always be an oral practice, but pile up of mgmt theories means continuous change in composition of work
Should not rest hopes on some 'best practice'
Marlboro man caused cigarette sales to increase ____% on the year before
Mgmt consultancy is a profession since they they have expert knowledge in their field, just like lawyers and doctors
Being quantitative does not make something scientific as you may not have included all relevant information
Imitators' advantage; don't waste money on experimentation
Emergent strategy is unhelpful since you produce waste on endless experimentation
7P's model = 4Ps + Personnel, Physical Facilities, and Process Management (e.g. KFC)
BCG pride themselves on the fact that ___ % of clients retain their services
Culture should be valuable, rare and imitable.
Emergent strategy empowers strategy to be responsible - not prevented from improving/gaining valuable experience
An organisation either has (can change) or is (can't change) culture
Every time there is a commercial boundary there is a transaction cost
Brands are more powerful the more they infiltrate society
Different cultures can be barriers to internationalisation
2 generic strategies: cost leadership and differentiation
Marketing can create diseases to 'treat', e.g hair loss
Should choose right suppliers that actually follow code of conduct
'the optimal solution to the model is not the optimal solution to the problem unless the model is a perfect representation of the model, which it never is'
Coffee Shops have assembly lines (should take 31 secs)
Brand loyalty is created only IN COMPARISON to alternatives
______ _____ is an example of changing a brand completely
Change is a game for the young
Industries are too heterogenous to support classical theory - resources of individual businesses are more important in determining competitive advnatge
McDonaldization: Rationalisation of all aspects of society with McDonalds being the most evident and most important of these (other sectors copying fast-food sector)
Porter ignores the firm itself
Across S&P 500, average multiple of CEO compensation to that of rank-and-file workers is 204, up 20% since 2009
Postmodern organisations are more collaborative so you should not dictate culture
NYC-London 3 minute phone call cost $350 in 1930 - now with Skype, it's zero
Lean requires strong network of suppliers - so don't just squeeze them for money
_____ had share price on display everywhere, even in elevators
Culture Life-cycle model: Birth/Early growth - Midlife - Maturity
TPS is high risk/high reward
___________ had the greatest market share in industry in 1994, but was 'stuck in the middle' - competitors all employed pure strategy
Leaders are main influences of culture; they are 'change masters'
Attempts to deliberately change culture are totalitarian efforts
_____ told AT&T the worldwide market for phones was only 900,000
Used Time and Motion studies to apply scientific management to office work, e.g. accounting
______ does well in the coffee industry, even though Porter's 5F assess it as a bad industry
No longer a simply 'make or buy' decision - difficult to hide any unethical practices
4 P's model - Product, Price, Promotion, Place
Culture can hold a company together
Only single-loop learning (Argyris) done in the public sector - since questioning 'why' looks like it should take place in the political sphere
Japanese name for 'continuous improvement'
Strategy determined by competition, which is determined by 5 forces
Lean productions next stage of scientific management (retreating from extremes of specialisation/standardisation but managers still exploit workers capacity)
Brand ubiquity and power curtails choice, forcing a 'grey cultural homogeneity' on the world
_____ sourced many parts for product in Japan - 2011 earthquake meant they had to react quickly - dangerous
Tax equivalent of language barrier amounts to 7%
HintAnswer
Verbal media is always preferred by managers
Market-driven firms vs Market-Driving firms (e.g. Good Grips)
Institutional contexts matter when examining entry into emerging markets
No tech is inherently right or wrong (can be used for different purposes, e.g. Facebook)
Despite economic gloom, the leading three strategy consultancies have seen years of double digit growth (2013)
Example of 'Historically bound firm' (Barney) - when founded, key in developing country's infrastructure
Brand loyalty stems from bonding, caring and nostalgia
Scientific management was an early manifestation of the managerial ideology of control
The decline of ford's costs enable higher wages - this gave workers an economic incentive to be able to afford a Model T
Mintzberg said that work is characterised by ________, _________ and __________
Chandler missed out competitive interactions
Most efforts of lean are unsuccessful
Chandler did not accept that business was continuously evolving - assumed centralised business was the culmination
______ shows that structure follows strategy (Chandler) - diversifying --> multidivisional firm
Theories limited by communities in which social scientists reside
McKinsey and BCG are hiring more scientists/doctors and less MBAs to think of innovative solutions
TPS is the best, most efficient method of manufacturing and Western companies should emulate it if they wish to be competitive in a global market
Chandler detached from context - influenced by nationalistic environment in navy
TPS comines high worker control of pre-ford craftsmen and high efficiency of Fordism
Compares GM's NUMMI plant to Volvo's Uddevella. Tayloristic vs joint effort to fuel improvement without intensifying beyond worker capability
______ is an example of differentiation in the airline industry - e.g. stadium sponsorship and advertising
Culture has 3 layers: Assumptions, Values, Artefacts
It's important to be stubborn on the vision and flexible on the details
empirical base of mgmt is fragmented - not subject to same rigorous testing in traditional sciences
Management not a science since it is not analytically determined; it is more instinctive
Brand Loyalty stems from _______, __________ and _________ (e.g. Hollister, Weightwatchers, Marmite)
Strategy is 'determination of basic, long term goals...and adoption of course of action'
Standardization helps to simply production and achieve economies of scale, but can magnify any errors that occur
Consultancies engage in 'parasitism' - using information from one company to infiltrate the next
Porter's 5F model is selfish - talks about competing with suppliers/customers - where is the cooperation?
Don't get enamoured with your own product, think about the core emotions of your customer (e.g. Beer, not being controlled by your wife)
Culture strength is determined by stability of group membership (IBM vs younger companies)
Hyper-compeittive business culture - pays to cut corners in China
Modern marketing generates new anxieties, not allaying old ones
CSR is future of business - necessary for survival
Agrees with Mintzberg - management is an oral practice - 'linguistic asphyxiation'
Cost leadership and differentiation were both possible in US paint industry
_____ gathered 1000 CEOs of suppliers and told them it would stop trading with 50% of them that do not comply
Taylorism used in developing countries (e.g. Apple factories using Hexane - a neuro-toxin - to clean screens quicker)
Theory E vs Theory O. Examples of ASDA and GE
Culture is intangible, so can we change it if we are not aware of it? May only become aware of culture when exposed to another
Chandler missed out social factors
Taylor and Ford were unaccepting of emotion in the workplace (they feared what anger and resentment could do to their control)
Changes in consumer preferences means rewards for flexible firms that adapt in time
Core competencies constitute focus for strategy at corporate level
Falsificationism (but this is not necessarily applicable to mgmt since most theories are in form of frameworks/mental structures - not laws)
Companies with 40% employee turnover rate struggle with organisational learning - INDIVIDUAL LEARNING IS IMPORTANT TOO
Price of Big Mac is a measure of purchasing power parity
Chandler overlooked Political issues, e.g. sherman antitrust act
Limited power to change culture since it is deeply rooted and employees don't like change.
MCs just becoming the middle man between IT and clients
Supply chain codes of conduct should not impose unrealistic goals, but create meaningful targets/objectives
5 forces model not useful to new entrants (because of the threat of entry force)
All industries are service industries, but we need to think like manufacturing industries
Develop concrete expectations of future challenges and then assign suitable responses
Lean production and scientific management are completely separate (autonomy)
traces up to ___% horse meat in tesco products - need more information in supply chain!
There is no such thing as universal management theories (Phillip d'Iribane's study of mgmt in holland = consensus among all parties)
_____ __________ created personalities AS products, e.g. Tony the Tiger, or Marlboro man
Most successful companies do not formally plan
Managers' purpose is to maximise employee efficiency
Children do not realise a game they are playing made be ____ is advertising a game
Every worker encouraged to 'pull the cord' on the production line. Toyota (2000 times per day) vs Ford (2 times per day)
Marketing should depend on culture (e.g. changes hierarchy of needs)
Use Gordon Redding's book to describe Overseas china and family-run businesses
Devised model of historical development of firm
The Bullwhip effect
All possible brainwork should be removed from the shop floor
Need to think about changing culture as traditional culture is only suitable for manufacturing economy and not new service economy
To Market > Marketing to > Marketing With
5F is 'black-boxing the firm' - ignoring the determinants of competitive advantage
Different to other species in that we can group ourselves together to achieve more than we can do separately
Religious barriers when doing business abroad - e.g. in Islamic countries, effectively shut down many times a day for prayers
Sustainable (clicker-pen) and Disruptive (telephone from telegraph) technologies
Strategic Planning risks the potential to miss lucrative short-term opportunities
Plans with specific means and ends are better in unstable environment (risky to lack a defined strategy)
Culture should be aligned with business environment, which is always evolving, so continuous culture change is required
Globalisation has made the world a level playing field
Organisations don't learn - people learn.

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