Management Skills Final Exam

Feedback

Feedback

Results of behavior related to individuals for their use and learning; focuses on past behavior, given in the present, with the goal of influencing the future.

Effective feedback

Feedback that is understood, accepted, actionable, work-related, documented, timely, frequent, constructive, balanced, given in an appropriate setting, interactive, avoiding comparisons to others, and dealing with emotional reactions.

Receiving feedback

Process that involves understanding different perspectives, not taking things personally, checking body language, listening, asking for clarification, and being open to suggestions for improvement.

Why tell stories?

Stories are simple, timeless, contagious, easy to remember, inspire, appeal, and engage.

STAR method

A framework for storytelling that includes situation, task, action, and result.

Power

The authority to get things done, which may not generate respect; related to positional power.

Influence

The ability to persuade others, generating respect and creating an impact without requiring a formal position.

Interpersonal influence

Influencing other individuals or groups by establishing credibility and emotionally connecting.

Procedural influence

Managing the rules or procedures used to exchange information and make decisions in a group.

Cialdini’s 6 Principles of Influence

Liking, reciprocity, social proof, consistency, authority, scarcity.

Effective leadership

Leadership that aligns actions with personal values.

Group dynamics

The study of how people in a group conform, polarize, think collectively, or loaf socially.

Conformity

Change in belief or behavior in order to fit in with a group.

Group polarization

The tendency for group members' opinions to become more extreme than their privately held beliefs.

Social comparison theory

The tendency for individuals to shift their opinions to gain approval or acceptance.

Persuasive argument theory

A theory stating that shifts in opinion occur due to the introduction of new persuasive arguments.

Groupthink

The tendency for group members to prioritize consensus and cohesion over critical evaluation.

Social loafing

The tendency for individual effort to decline as group size increases.

Decision making

The process of identifying and choosing alternative solutions that lead to desired results.

The rational model

A decision-making process that involves identifying the problem, generating alternatives, evaluating them, and selecting the optimal solution.

The non-rational model

Involves bounded rationality and chaotic decision-making where solutions are often not optimal.

Simon’s Normative Model/Bounded Rationality

The idea that decision-makers have limited information and settle for 'good enough' solutions.

Garbage can model

A chaotic model of decision-making where solutions and problems are not well-defined.

Biases

Preferences or inclinations that can hinder impartial judgment.

Heuristics

Mental shortcuts or rules of thumb that simplify decision-making but can lead to errors.

Self-serving bias

The tendency to view oneself in a positive light and attribute successes to internal factors.

Egocentric bias

The belief that one contributes more to a situation than others perceive.

False uniqueness

The belief that one is unique or different from others in a favorable way.

Illusion of control

The false perception of controlling situations more than one actually does.

Overconfidence

Excessive confidence in one’s abilities and judgments.

Halo effect

The tendency to assign positive attributes based on one attractive trait.

Forked tail effect

The tendency to assign negative attributes based on one undesirable trait.

Primacy effect

The phenomenon that the first information learned alters perception.

Negativity effect

The bias towards giving greater weight to negative information about someone.

Fundamental attribution error

The tendency to attribute behavior to personality rather than situational factors.

Confirmation bias

The inclination to seek information that confirms pre-existing beliefs.

Availability bias

The tendency to base decisions on information that is readily available rather than comprehensive data.

Hindsight bias

The belief that an event was predictable after it has happened.

Base rate fallacy

Relying on a single, vivid data point instead of more reliable information.

Insensitivity to sample size

Assuming small samples are representative of the whole.

Representativeness

Making judgments based on stereotypes rather than thorough analysis.

Anchoring and adjustment

Basing decisions primarily on initial information received.

Framing

The tendency to perceive risks based on how information is presented.

Escalation of commitment

Continuing an ineffective course of action due to previously invested resources.

Evidence based decision making

Using reliable data and evidence to make managerial decisions.

Decision making styles

The combination of how individuals perceive and respond to information.

Value orientation

The extent to which an individual focuses on tasks or people during decision-making.

Tolerance for ambiguity

The degree to which an individual prefers structure or is comfortable with uncertainty.

Analytical style

High tolerance for ambiguity and emphasis on task value, often leading to over-analysis.

Directive style

Low tolerance for ambiguity, focused on task and efficient decision-making.

Conceptual style

High tolerance for ambiguity, focusing on social aspects and creativity.

Behavioral style

Low tolerance for ambiguity, prioritizing social interactions and consensus.

Decisional balance sheet

A tool used to weigh gains and losses for self and others.

Decision tree

A visual map of potential choices and their outcomes.

Bazerman’s problem definition

A method to broaden the perspective on problems through comprehensive search and criteria definition.

Osland pre-mortem exercise

A method to foresee potential failures by generating reasons for why a plan might fail.

Programmed decisions

Decisions that have straightforward, objective answers based on established guidelines.

Non-programmed decisions

Complex decisions requiring tailored solutions and creative insight.

Stages of decision making

Phases including situational analysis, problem analysis, solution analysis, and implementation analysis.

Kolb model of group problem solving

Suggests that problem-solving is iterative rather than linear, involving expansions and contractions.

Situation analysis

Identifying the right problem and exploring various viewpoints.

Problem analysis

Thoroughly understanding and defining the nature of the problem.

Solution analysis

Generating feasible solutions and assessing their effectiveness.

Implementation analysis

The execution phase that requires clarity in assigning tasks and responsibilities.

Consultative leadership

A style where leaders seek input from team members.

Consensus leadership

A leadership approach that encourages collective problem-solving.

Democratic leadership

Empowering group members to make decisions collectively.

Brainstorming

A method for generating alternative solutions without judgment.

Nominal group technique

A structured approach to group problem-solving involving silent idea generation and voting.

Delphi technique

A method for obtaining input anonymously, typically using surveys.

Devil’s advocate

A role assigned to challenge ideas and decisions critically.

The dialectic method

A structured debate of opposing views to guide better decision-making.

Conflict

A process that arises when one party feels harmed or threatened by another's actions.

C-type conflict

Cognitive conflict that enhances understanding and creativity.

A-type conflict

Affective conflict detrimental to team effectiveness.

The conflict process

Stages including potential opposition, cognition & personalization, intention, behavior, and outcomes.

Personal barriers

Individual attributes that hinder effective communication.

Physical barriers

Obstacles to communication that stem from the physical environment.

Semantic barriers

Communication issues arising from jargon or unclear language.

Cognition & personalization

How individuals perceive and emotionally respond to conflict.

Intention to manage conflict

Strategies like dominating, compromising, or collaborating to manage conflict.

Negotiation

The process where parties discuss their concerns and interests to reach mutual agreement.

Positions in negotiation

Stances that each party holds on issues.

Interests in negotiation

Underlying concerns that affect the resolution of negotiations.

BATNA

The Best Alternative to a Negotiated Agreement, representing the next best option if negotiations fail.

Reservation resistant price

The least favorable point at which one would accept an agreement.

Bargaining zone (ZOPA)

The range between parties' reservation prices that allows for potential agreement.

Target price

The ideal outcome that one hopes to achieve in negotiations.

Distributive bargaining

A competitive negotiation strategy focused on dividing fixed resources.

Integrative bargaining

A cooperative negotiation strategy aimed at creating joint value and maintaining relationships.

Distributive approach

An approach that assumes a fixed amount of resources to be divided.

Integrative approach

An approach that seeks mutually beneficial outcomes for both parties.

Congruent approach

A negotiation style where both parties desire the same outcome.

Fixed-pie bias

The mistaken belief that resources are limited and must be won or lost.

Asymmetrical information

A situation in which sellers have more information than buyers, influencing negotiations.