MB- Exam 2 - Managers Bookshelf-Chapters 10, 11 and 12 and...

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Managers Bookshelf-Chapters 10, 11 and 12 and Critical Chain Scheduling not included Chapter 7: Managing the Unexpected: Assuming High Performance in an Age of Complexity -There are several organizations that consistently operate under very dynamic conditions, commonly experience significant unexpected events, and yet reliably achieve their objectives. These are called Highly Reliable Organizations (HROs), and include emergency rooms and aircraft carriers. -Mindful management of he unexpected requires rapid recognition of the warning signs, containment, resolve, resilience, and swift restoration of system functioning. -HROs/mindful management have 5 key attributes that allow them to handle the unexpected: 1. Preoccupation with failure-a culture that encourages the reporting of errors and near misses. 2. Reluctance to simplify interpretations-avoid simplifications, understand as much as possible. 3. Sensitivity to operations-this requires a common language and shared goals across the organization. 4. Commitment to resilience-addressing problems when they are small and developing “work-arounds” (alternative scenarios of actions). 5. Deference to expertise-oldies have the most say. -Sizable investments in plans reduce both sensing and innovations capabilities and organizations (plans hinder mindful management by putting restraints on it). . -HROs have a culture of mindfulness coupled with institutional practices. -Effective managers in a mindful organization do the following: 1. Allocate resources to both production and protection. 2. State not only goals to be accomplished but also errors that cannot occur. 3. Create an error-friendly learning atmosphere. 4. Are humble, and aware of their vulnerabilities. 5. Promote healthy debates by those with diverse views. 6. Break down hierarchies and divisional barriers. 7. Push decision-making to where the expertise resides. -The skills and culture of non-traditional organizations (HROs) that routinely manage the unexpected successfully are transportable to more traditional entities. Chapter 8: Competitive Advantage: Creating and Sustaining Superior Performance -Profit potential of an industry is determined by the cumulative strength of five forces that affect competition in an industry. 1. Jockeying for position on the part of current competitors in the industry. 2. Potential for new competitors to enter the industry.
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MB- Exam 2 - Managers Bookshelf-Chapters 10, 11 and 12 and...

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