Final Exam Preparation Notes

The final exam will cover material discussed in class.
Slides are not posted online to incentivize class attendance.
Chapter 1 quiz was successful; Chapters 3 & 4 quizzes are this Friday from 12-2 PM.

Create a video answering questions based on the reading.
Video must be recorded in Canvas to get full credit; uploading videos will not grant full credit.
Video length: Maximum 3 minutes, with both video and audio required.

The Problem: Alyssa is a well-liked, long-term employee (11+ years) known for her great personality and hosting skills, but her job performance is lacking.
Despite coaching and training, she hasn't improved.
The executive, Claudia, is struggling with the decision of what to do with Alyssa.
The Issue: The situation is unfair to everyone: Alyssa, the decision-maker, the organization, and clients.
The Solution: Letting Alyssa go is the right decision; consider helping her find a job where she can excel.

Research Setup: Conducting research at a large firm, interviewing employees from all levels about the company's purpose.
Results Breakdown:
- Top Management: Many could answer precisely (purpose of the firm).
- First-Line Managers: Many couldn't answer very well at all.
- Middle Management: Some could finagle an answer but weren't entirely sure.
Interpretation of Qualitative Findings:
- Potential weak organizational structure and culture.
- Possibility that the purpose is unknown or poorly communicated.
- Potential lack of care or understanding of the firm's purpose.
Follow-up Questions: Needed to determine the root cause of the disconnect.

Definition: A firm's mission statement defines its purpose and aims to keep everyone aligned.
Functions:
- Communicates purpose.
- Establishes goals.
- Provides a framework for decision-making.
Example: Mays Business School Mission: "Develop leaders of character who will make a positive difference in the communities in which they live, work, and serve."
- Answers the questions: "Why are we here?" and "What's our purpose?"
- Incorporates values.
- Uses specific language to define identity.
Target Audience:
- Customers (constituents).
- Internal stakeholders (employees, staff, department heads, deans).
- External stakeholders (College Station & Bryan communities).

Definition: Anyone potentially affected by what the organization does.
Examples:
- Government regulators.
- Investors.
- Community at large.
- Media.
- Organization.
- Potential employees.
- Customers, clients, vendors, suppliers.
  *Includes the top leadership team, answering the questions: who are you, why are you here and what is your purpose?

Consulting Perspective: Most consulting jobs arise because organizations forget to ask/answer the "why are we here?" questions.
Consultant's Approach:
- Assess whether actions align with the mission, purpose, and values.
- Identify discrepancies.
- Guide the team back to their core mission.
- If there is a misalignment it creates friction.
Personal Application: Individuals should also have a personal mission (Who are you? Why are you here? What's your purpose?).
Key Considerations:
- Describing your business.
- Not just about making a profit (that's a given).
- Defining identity and objectives.

Importance:
- Ensures effectiveness and efficiency.
- Aligns everyone towards a common goal.
- Allows individuals to self-select (decide if they fit with the organization's mission).
Benefits:
- Increased productivity.
- Higher performance.
- Greater engagement.
Avoiding Backward Focus: Instead of solely focusing on productivity, start with the mission.
- Address mission first and productivity will follow.

Definition: A vision depicts where the organization wants to be in the future.
Key Aspects:
- Perpetual and aspirational.
- Justifies the rationale for actions.
- Provides strategic soundness and direction.
- Uses distinctive and specific language.
Personal Vision: Everyone needs a vision for their professional lives.
- Reveals aspirations.
- Justifies actions.
- Creates a competitive advantage.
  *It should have a horizon that is perpetual.

What Differentiates You: How you think (mindset).
Common Stressors: Deadlines, sports, the future, tough decisions, overthinking, multiple responsibilities, money and school.
Key Insight: None of these things actually cause stress.
The Truth: Stress is caused by your perception of those things.
Importance of Perspective: How you see the deadline, the future, money, decisions, etc.
Focus: What do you focus on?
- Whatever you focus on, you empower.

Instead of saying I don't have time, it is important to figure out what's in it for me in this certain scenario.

What is in it for me?
- Find the opportunity to make yourself better to better your competitive advantage.
Every day is a chance to improve (improve competitive edge).
It's okay to be highly selfish when focusing on improving your advantages. *Regardless of the task, get something from the experience, regardless of if it is good or bad.
- Focus on taking as much as you possibly can from an experience.

The Question: When was the last time you had a significant conversation?
The Answer: Aren't they all?
The Point: Every encounter is an opportunity to give and take something significant.
Reframing Bitching Sessions: Turn complaints into opportunities.
**Example 1: Executive MBA Program. ** * Professor concerned about increased workload.
- Reframed as an opportunity to be seen as approachable and an expert.
**Example 2: Curriculum Changes. ** * Faculty reluctant to incorporate new elements.
- Reminded them of their mission to develop leaders of character.