Class 29 - Class 29: Organizational Decision­Making Yes,...

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Unformatted text preview: Class 29: Organizational Decision­Making Yes, this is coming down Annapurna. MGTS 3401 Cummings IntB 4495: Innovation in Ireland IntB 4495: Innovation in Ireland May 18 through June 9, 2010 Professors Borchert and Rochford Pre­Reqs: •Junior standing by May •2.8 GPA •Completed this class and MKTG 3701, or instructor consent 3 credits Program cost = $3900 More info: International Education Office ieo@d.umn.edu MGTS 3401 Cummings Climb: Arlene Blum is leading a group of 10 mountaineers to climb Annapurna, at 26,545 ft. the world's 10th highest peak MGTS 3401 Cummings For Today ► Assuming you are Arlene Blum at Camp 3, write your “script” of what you will say when you sit down with the climbers in your group, to inform them of your final decision. Think about how you will inform them of your final decision, and then write exactly what you will say. ► "Climbing the world's highest According to Arlene…. According to Arlene…. mountains is a powerful metaphor for achieving any demanding objective.” ► Annapurna: A Woman’s Place Fortune magazine selected it as one of “75 books that teach you everything you really need to know about business” ► Ph.D. in biophysical chemistry her research was instrumental in banning Tris and Fyrol, two cancer­causing chemicals that were used as a flame retardant on children's sleepwear as well as the pesticide DBCP. MGTS 3401 Cummings For Monday For Monday ► What is the definition of Emotional Intelligence? MGTS 3401 Cummings ► Self­awareness Emotional Intelligence ► Self­management Self­motivation recognize your emotions and their effects on others; accurately understand your own strengths and weaknesses Self control; manage your impulses; keep disruptive emotions under control; maintain internal standards of integrity, honesty Use emotion to motivate yourself & persist; high global self­ esteem, conscientiousness recognize & understand what others feel; take active interest in others’ concerns use the emotions of others to build effective relationships with MGTS 3401 Cummings others, work well in teams, develop other’s developmental needs; lead through horizontal influence & informal power ► ► Social Awareness, Empathy Social Skills ► Using Your Emotional Intelligence Using Your Emotional Intelligence EI Skill Identifying Emotions Pay attention, listen, observe, ask questions Understanding Consider reasons for the feelings, and how Emotions they will likely change depending on what happens next. Managing Don’t minimize the feelings and don’t blow Emotions the feelings out of proportion. Think before acting. Using Determine how feelings are influencing Emotions thinking. Change your mood, or that of the other person or group as needed. 5 Ethical Systems System Based on Act… As interpreted by leaders Greatest benefit for most people As you would want to be treated Equitable distribution Ensure freedom, free speech, privacy Eternal Law (ET) Scripture or nature Utilitarian (UT) Outcome or Consequence Universalist (UN) Intent Distributive Fairness Justice (DJ) Personal Liberty Rights (PL) MGTS 3401 Cummings What will you do? ► Your company policy on reimbursement for meals while traveling on company business is that you will be repaid for your out­of­pocket costs, not to exceed $60 per day. You do not need receipts for these expenses – the company takes your word. When traveling, you tend to eat at fast­food places and rarely spend in excess of $15 per day. Most of your colleagues put in reimbursement requests in the range for $45 ­ $60 per day, regardless of their actual expenses. How much will you request on your next meal reimbursement form? ► You are a new middle manager in a family owned company and you enjoy your work very much. Another manager, your peer, works with you on a planning task force. You have noticed that he frequently has the smell of alcohol on his breath. You have also noticed that his work has not been up to the team’s standards in the last two meetings, and it is hurting the overall team effectiveness. This manager happens to be the son­in­law of the company’s owner. What would you do? MGTS 3401 Cummings Classification of Organizational Levels Institutional Level Administrative Level Technical Core MGTS 3401 Cummings Decision Levels in Organizations Strategic decision—identifies the ends and means associated with the positioning of an organization in its external task environment. Managerial (tactical) decision—specifies how an organization intends to integrate its institutional level with its technical core, and how it will coordinate the diverse work systems within the technical core. Operating decision—deals with the day­to­day operation of an organization. MGTS 3401 Cummings Roy Vagelos, Director of Research Merck, 1978 Publicly held pharmaceutical company MGTS 3401 Cummings You are Roy Vagelos ► Dr. Bill Campbell is in your office, and is asking you for a budget of $25­50 million, over 7 – 8 years I think I can, from a veterinary compound, develop a human drug to relieve itching and maybe even cure “river blindness.” 600,000 people are already blind from the parasite, and another 80 million threatened, in rural Latin America and Africa If successful, more funds would be required in about 8 years, to test the drug, and move it through the regulatory process No applicability outside poor, rural Latin America and Africa; no prospects for recovering costs, let alone any profit This request is about 4% of your R&D budget ► What will you say to your research scientist ( Dr. Campbell)? MGTS 3401 Cummings Roy Vagelos, Director of Research What do you tell the scientist in your office? Profit maximization Shareholder value MGTS 3401 Cummings Profit maximization Shareholder value ► Dr. Bill Campbell is in your office, and is asking you for a budget of $25­50 million, over 7 – 8 years I think I can, from a veterinary compound, develop a human drug to relieve itching and maybe even cure “river blindness.” 600,000 people are already blind from the parasite, and another 80 million threatened, in rural Latin America and Africa If successful, more funds would be required in about 8 years, to test the drug, and move it through the regulatory process No applicability outside poor, rural Latin America and Africa; no prospects for recovering costs, let alone any profit This request is about 4% of your R&D budget You are Roy Vagelos; Director of Research. What will you say to your research scientist (Dr. Campbell)? ► MGTS 3401 Cummings ...
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