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study guide- test 1

study guide- test 1 - B MGT289I Study Guide 1 M anagement...

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BMGT289I Study Guide 1) Management Overview Competitive Landscape of Business? -Globalization, Collaboration, Change Wikinomics -Mass Collaboration What are the essential success drivers for competitive advantage? -Innovation, Quality, Cost-Competiveness, Customer Service, Human Capital Organizational culture is the system of shared beliefs and values that develops within an organization and guides the behavior of its members Emotional Intelligence - Ability of an individual to deal successfully with other people, to manage one’s self, motivate others, understand one’s own feelings and appropriately respond to the everyday environment Four Keys to Master Now -Public Speaking, Memory, Speed Reading, Negotiation 2) Leadership Leadership Myths
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1) Leaders are born not made 2) Leaders must be charismatic 3) Leadership only exists at the top 4) Leadership incompetence results from too little of the “right stuff” Sources of Power -Authority, Control over rewards, Control over punishments, appealing personal characteristics, expertise Great Man Theory -based on the premise that leaders were born more capable and possessed a different set of personality traits than followers Characteristics that People Admire -Honesty, Forward-looking, Inspiring, Competent Michigan vs. Ohio State Studies -Purpose was to identify categories of relevant leadership behaviors -Consideration (OS) and relations-oriented (UM). -Initiating structure (OS) and task-oriented (UM). Four Behavioral Styles of Situational Leadership Directing, Coaching, Supporting, Delegating Fiedler’s Contingency Model
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-Effectiveness depends on two factors: the personal style of the leader and the degree to which the situation gives the leader power, control, and influence over the situation. Transactional vs. Transformational Leaders - Transactional leaders guide and motivate their followers in the direction of established goals by using contingent rewards (exchange rewards with meeting leaders’ expectations) and corrective actions (search for and react to deviations from standards). - Transformational leaders create the vision and environment that motivates employees to achieve performance beyond existing goals and expectations and to consider new ways of performing their tasks.
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