LAS EXAM COOKED

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73 Terms

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Organization

Collection of individuals in a coordinated system performing specialized activities in order to achieve certain goals over an extended period of time

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Functional areas in a business

Marketing, Finance, Operations, Human Resources

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Organizational Behavior

Actions of individuals and groups in an organizational context

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Human Capital

Skills, knowledge, values, beliefs, and attitudes of the people in the organization

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3 Aspects of Competitive Advantage

Value, Rareness, and Difficulty to imitate

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What does it mean to have value (competitive advantage)?

Individuals are capable of producing work that supports an organization’s strategy for competing in the marketplace

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What does it mean to be rare (competitive advantage)?

Being unique in the industry and having different skills, knowledge, and attitudes

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What does it mean to be difficult to imitate (competitive advantage)?

Self-explanatory

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Personality

Relatively enduring, major determinant of one’s behavior, influential towards one’s behavior across a wide variety of situations

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What are the Big 5 Personality Traits ECAEO

Extraversion, Conscientiousness, Agreeableness, Emotional Stability, Openness to Experience

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Attitude

Reasonably stable, directed at an object person or idea

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How are attitudes formed?

They are part of the learning process, through self-perception, and the need for consistency

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Important Workplace Attitudes

Job satisfaction (work attitude) and organizational commitment (organizational attitude)

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4 Questions to ask for Strategy

Where are we and Who are we?

Wher do we want to go and How do we get there?

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The Role of Managers PLOSC

Planning, Leading, Organizing, Staffing, Controlling

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Strategic HR Management

Formulating and implementing HR policies and practices that produce the employee competencies and behaviors the company needs to achieve its strategic aims

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Types of Authority

Line, Staff, Functional, and Procedural

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Line Authority

Right to issue orders (e.g boss to subordinate)

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Staff Authority

Right to provide advice (to anyone)

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Functional Authority

Right to do a specific job that may cross over to other departments; can be project specific

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Procedural Authority

Power to do a task as part of a larger process

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Shared Services Arrangements

Centralizes transactional HR tasks

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Corporate HR Teams

Assist top management on high-level issues; develop aspects of organization’s workforce to align with company’s long-term strategic plan

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Embedded HR Teams

Assists other departments with HR concerns

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Centers of Expertise

HR consulting firms within a company

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Strategy Mapping

See how goals relate to one another

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Competences

Applications of knowledge, skills, or attitudes in order to support organizational strategies; drives competitive advantage

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Competency-Based HR Management

Integrates HR policies and procedures with Business Planning

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HR Functions OTTPTECG

Organizational Design, Talent Acquisition, Talent Development, Performance Management, Total Rewards, Employee Engagement, Change Management, Global HR Management

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Organizational Design

How teams and departments are arranged and organized

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Talent Acquisition

Recruitment, and its planning, advertising, and choosing

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Talent Development

Training and learning competences

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Performance Management

Appraising performance to improve how employees support the overall objectives of the company

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Total Rewards

Compensation and benefits; motivates employees

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Employee Engagement

Relation between individual and organization

Work culture, worker and industrial relations, disciplinary actions, labor laws

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Change Management

Supporting and preparing employees to adapt to any change

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Global HR Management

Adapt to globalization and implications on talent

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Optimal vs. Satisficing Decision

OPTIMAL

  • Best choice (maximize objectives, complete knowledge, know outcome)

SATISFICING

  • Satisfactory choice (satisfies objectives, incomplete knowledge, probable outcomes)

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Reactive vs. Proactive Decisions

REACTIVE

  • Quickly made, response to immediate concerns, under pressure

PROACTIVE

  • Anticipate events and concerns, minimize negative and maximize positive outcomes

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Intuitive vs. Systematic Decisions

INTUITIVE

  • Instinctive

SYSTEMATIC

  • Rational and organized approach

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Decision-Making Process

  • Define the Problem

  • Identify criteria

  • Gather and evaluate data

  • List and evaluate alternatives

  • Select best alternative

  • Implement and follow up

  • Feedback

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Heuristics

  • Mental short cuts

  • Quick decisions

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Availability Heuristic

  • What you remember the most

  • e.g. After seeing news reports on airplane crashes, a person overestimates the danger of flying, even though it’s statistically safer than driving

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Anchoring and Adjustment Heuristic

  • Getting stuck with a benchmark

  • e.g A person sees a shirt priced at $200 marked down to $100 and believes it’s a great deal, anchoring on the original price even if $100 is still expensive

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Representative Heuristic

  • 1 person as a representative of everyone

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Simulation Heuristic

  • Anticipating what will happen in a situation based on previous experience

  • e.g After missing a flight by five minutes, a person feels worse than if they had missed it by an hour, because it’s easier to imagine scenarios where they could have made it

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Illusion of Control Heuristic

  • Overestimate ability to control events and downplay other circumstances / external effects

  • e.g. Gambler believes they can influence the outcome of a dice

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Affect-As-Information (AIM) Heuristic

  • People use their emotions to make judgments

  • Gut reactions influence decisions

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Scarcity Heuristic

  • Rare = desirable

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Similarity Heuristic

  • Treat people similar to us better

  • e.g Patient assumes new medicine will work well because the name sounds familiar to a known effective drug

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Biases

  • Result of misapplied heuristics

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How does HR facilitate change?

HR drives organizational change by guiding individuals through it

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VUCA World

Volatile, Uncertain, Complex, and Ambiguous

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The Yellow World

  • Business Fragmentation and Collectivism

  • Humans come first

  • Society looks for fairness distribution of wealth and resources

  • Flexibility, autonomy, fulfillment, and ethics

  • Doing good for the common good

  • Emergence of guilds that support independent workers

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The Red World

  • Business Fragmentation and Individualism

  • Innovation rules

  • Innovation is too fast for regulation

  • Speed is success for organizations

  • Employees need high specialization

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Green World

  • Corporate Integration and Collectivism

  • Companies care

  • Corporate social responsibility and sustainability are necessary to succeed

  • Organizations treat people fairly, care for scarce resources of the planet

  • Trust in companies is key

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Blue World

  • Corporate Integration and Individualism

  • Corporations rule

  • Large companies dominate but workforces are lean

  • Extremely talented employees

  • High demand for performance

  • Data continuously collected

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What are the Internal Pressures for Change (3)?

  • Aspiration-Performance Discrepancies

  • Business Life-Cycle

  • Changes to Top Management / Leadership

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Aspiration-Performancee Discrepancies (under Internal Pressures for Change)

  • Gaps between what one wants to achieve, and what it is achieving

  • Most fundamental pressure

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Life-Cycle Forces (under Internal Pressures for Change) - Integrative Life Cycle Model

  1. Entrepreneurial stage

    1. Low on manpower + need capital + focus on innovation

    2. Focus on product / service ideas

  2. Collectivity stage

    1. Need for additional people

    2. Low on manpower + low payscale

  3. Formalization and control stage

    1. More people = need formalization + stricter division of labor + increase in professionalism + focus on efficiency

  4. Elaboration stage

    1. Focus on efficiency and innovation

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Organizational Inertia

If it worked in the past, organizations would continue the same behavior

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Changes in Leadership / Top Management (under Internal Pressures for Change)

New leaders can break organizational inertia

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External Pressures for Organizational Change

  • Technological Changes

  • Socio-Political Changes

  • Managing Ethical Behavior

  • Increased Competition

  • Globalization

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Incremental vs. Radical Changes

Incremental : little changes that may not necessarily affect core identity

Radical : major changes that affect processes; may affect core identity

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Socio-Political Changes

  • Demographic and Social values

  • Political factors

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Red Queen Hypothesis

We are all running a race; even competitors are

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Process of Planned Change or the Unfreeze-Move/Transform-Freeze (Kurt Lewin model)

Unfreezing

  • Provide rationale for change

  • Provide sense of safety with change

  • Guilt / anxiety about not changing

Moving / Transforming

  • Provide info supporting change

  • Bring about shifts in behavior

Refreezing

  • Implement new evaluation systems

  • Implement new hiring and promotion systems

  • Must meet altered demands

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Journey Through Change w/ the Endings-Neutral Zone-New Beginnings (William Bridges model)

Endings

  • Surprise, alarm, shock, disbelief

  • Need to change

Neutral Zone

  • Confusion, frustration, ambiguity

  • Preparing the organization

New Beginning

  • Facilitating Efficiency

  • Acknowledgement of reality

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Considerations in Leading Change (3)

Pace, sequence, and equilibrium of change

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Pace of Change

The faster the change, the harder the resistance

Affected by the nature and type, as well as the context of change

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Sequence and timing of change

Change is influenced by a sequence of events

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Theory E

  • Process-driven

  • Maximize shareholder value

  • Top-down management

  • Emphasize structure and systems

  • Plan and establish programs

  • Financial incentives

  • Analyze problems and shape. solutions

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Theory O

  • People-driven

  • Develop organizational capabilities

  • Bottom-up participation

  • Build coprorate culture

  • Experiment and evolve

  • Motivate through commitment

  • Support management in shaping their own solutions