Lecture Notes, Lectures 1-10 - Teacher: Dave Swanston PDF

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Teacher: Dave Swanston...

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MGM TEST ONE

Chapter 2- Sustainable 

Env i r onment alSt ewar dshi p-Ref er st ot hei nt egr at i onofs us t ai nabl ev al uesi nt o managementofenvi r onment al r es our c es

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Degr adat i on:Ref er st ot hedet er i or at i onoft heenvi r onmentduet odepl et i onand des t r uc t i onofeco-s y s t em andr esour c es

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5Gr eatChal l engest oSus t ai nabi l i t y :Cl i mat echange,Capi t alSqueez e, Pol l ut i onandHeal t h,Ener gy ,Resour ceDepl et i on.

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1.Cl i mat eChange:Reduc ec ar bonbas edemi s s i onsbyatl eas t50%-f uel effic i entl i ght i ng-c ar sbec omeaReduc edCar bonec onomy -Youc anbec omea r educ edcar bonec onomybyt r ans por t at i oni nnov at i on,bi odi v er s i t y ,effic i ent ener gy ,humanbehav i ormodi fic at i on.Al s ot omak esur ewef ol l owt hi st her e shoul dbet axi ncent i v es ,cap-t r ades y s t em. A)Gr eenCar pet :Ref er st opl ant s ,t r ees ,f or es tl i f eet c . B)Def or es t at i on:Cl ear i ngofear t hsf or es t s C)Ky ot oPr ot ocol :Anagr eementi nwhi c hpar t i ci pat i ngnat i onsbas i cal l yagr eet o s t abi l i z eandr educ eGr eenhous egasemi s s i ons . 

2.Pol l ut i onandHeal t h:To x i csi t es -adv ant ageofc l eani ngt ox i csi t esi st hat onc ec l eanedt hent her ei snoneedt ocl eanagai n.Thet op6t ox i ct hr eat s ar e-Lead,Mer c ur y ,Chr omi um,Ar s eni c ,Pes t i c i desandRadi onuc l i des .

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3.TheEner gyCr unch:I nt heener gycr unc hwhathast obeunder s t oodi s t hatt hegl obal r equi r ementf orf os s i l f uel sandoi li sv er yhi ghi nt hebegi nni ng

oft he1800’ s ,2t r i l l i onbar r el sofoi l wasav ai l abl ebutnowhal fahsbeenus ed andmor eus ewi l l ber equi r edbybot ht hedev el opedc ount r i esl i k eUSA,UK, J apanandt hedev el opi ngc ount r i eswi l l needi tt o-Count r i esl i k eI ndi aand Chi naes pec i al l y . 

4.Resour ceAvai l abi l i t y:PeakModelt heor y :s t at est hatr es our cesar efi ni t e , r es our c eswi l lats omepoi ntr eac ht hei rpeakpr oduc t i onpoi ntandt hens t ar t t odec l i ne. A)Fact or sI nfluenci ngSuppl y: 1)Suppl yDevel opmentConst r ai nt s: Thi sbas i cal l yr ef er st ohowqui ckl yy ouc andev el opex i s t i ngk nown r es our c es uppl i es -Thi sal sor el at edt ohowqui c kl yy ouc ans hi f tc api t al i nv es t mentf r om dev el opedpl acest ot hepl ac eswher et hedev el opmenti s s t i l l i nt hepi pel i nes .2)Pol i t i calI mpactFact or s:Thi sbas i cal l yr ef er st o t hepol i t i c al ,l egalandenv i r onment alac t i onswhi chc ons t r ai nst heabi l i t yof t hecompani esandgov er nment st oactons uppl ydev el opment .Al s o t r adei nt ar i ffsr ef er st ot hepay mentofpr emi um whi c ht hegov er nment mak est ot hei ndi v i dual swhoar eusi ngal t er nat es our c esofener gy .3) Geopol i t i calI nst abi l i t y:Thi sbas i cal l yr ef er st ot hei mpac toft hegl obal nat i onsont hegl obalener gyr es our c esr equi r edf orex ampl eSaudiAr abi a et c .4)Di scover yofNew Resour ces:I dent i fi cat i onofnewr es our c esof f os s i lf uel s.5)Decl i nei nCur r entPr oduct i on.Exhaus t i on. B)Ener gyPr oduct i vi t y:Thi sbas i c al l ymeansi mpr ov i ngc ur r enteffic i ent ener gygr owt hwi t houtc ompr omi s i ngt heeconomi cgr owt h.

5.Resour ceDepl et i on:Fi r s twes hal lt al kaboutr es our cemanagement r es our c emanagementr ef er st omanagementofc ur r ents uppl i esand r egener at i onofnews uppl i esbymi ni mi z i ngr es our c edepl et i on

6.Capi t alSqueez e:Les sc api t al 

Sover ei gnWeal t hFund:St at eownedi nv es t mentf unds ConsequencesofMassi veCapi t alI nf usi on:Thefi r s tc ons equenc e woul dbet hatl es ss av i ngsbyt hec i t i z enswhi c hr esul t si nl es s i nv est ment si nt er nal l y -i fy ouhav el es si nv es t ment si nt er nal l yt heny our gov er nmentwi l lneedt ous et hei rowndomes t i cmoneyhenc et he abi l i t yt ol endgoesaway .Secondl yi ft her ear el ows avi ngst hent hi si s mor el i k el yt ohappeni ndev el opi ngec onomi est handevel oped economi es -Thi r dl yCos tofc api t al i ncr easesbec ausec os tofcapi t al i nv est menti smor et hancos tofs av i ngs/s uppl i es .Four t hl y,Fi nanc i al pr ot ect i oni s m wi l lbeempl oy ed-t hi sr ef er st ot heac t i onswhi c ht he gov er nmentt ak est or ef r ai norcons t r ai nt hefl owoff undsf r om one economyt oanot her .

CHAPTER2I nnovat i on

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Par adi gm Shi f t s:Whenev eranewt ec hnol ogyorbus i nes smodel c omesupwhi c hdr amat i c al l yal t er st hemar k etdemandand c ompet i t i on.

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Technol ogySCur ve:Rober tFos t erc ameupwi t har el at i ons hi p bet weent heper f or manc eofat ec hnol ogyandt i me.Es t abl i s hi nga r el at i ons hi pbet weenacc umul at edi nv es t mentmadei nR&Dand per f or manc eofgi v ent ec hnol ogyov ert i me.Bas i cal l ys t at est hatunt i l t ec hnol ogyr eac hesi t snat ur all i mi tehr et ur noni nv es t mentar ev er y hi ghbutonc ey our eac ht hatl i mi tt heny ous t ar tt ol ookatal t er nat i v e s our c esoft echnol ogy .

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Di sr upt i vet echnol ogy:Anewt echnol ogywhi c hget si t ss t ar taway f r om t hemai nmar k etbutonei t sf unct i onal i t yi mpr ov esi ti nv adest he newmai nmar k et .

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PROBLEMSFACEDI NI NVESTI NG I NDi sr upt i veTechnol ogi es Es t abl i s hedc ompani esf ai l edt oi nv es tI ndi s r upt i v et ec hnol ogi es bec aus et heybel i ev et hati ni t i al l yt hes et ec hnol ogi esc ov erav er ys mal l f r agmentoft hemar k ett hati ti si ns i gni ficantt ot hei rr ev enuesand pr ofi t .Al sot heot herr eas oni st hatt hes ei nv es t i ngi nt hes edi s r upt i v e t ec hnol ogi esmeanst oadaptt oac ompl et el ynewbusi nes smodel whi c hmos tes t abl i s hedbus i nes s esdon’ ti nt endt odo.

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Busi nessModel :Thewayt heent er pr i s ei nt endst omak emoney .

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WhatHPdoesi st hatt heys el lt hecheapes tpr i nt er sbutcov erupt he c os ti nI nkoft hepr i nt er -Rememberpr of es s orBai l ey ’ sAppl eEx ampl e.

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PUNCTUATEDEQUI LI BRI UM:Al ongper i odofequi l i br i um i s punc t uat edwi t hr api dc hangeswhent hes t r uct ur eoft hei ndus t r yi s r ev ol ut i oni z edwi t hi nnov at i on.T ak eex ampl eofs mar t phonemar k et

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Or gani z at i onalI ner t i a:I nt er nalandex t er nalf act or swhi c hmak ei t t oughf ort heor gani z at i ont oc hangei t ss t r uct ur e.Theex ampl esar e Cogni t i v eSchemat a,I nt er nal Pol i t i calCons t r ai nt s ,Or gani z at i onal Cul t ur e,Ex t er nal I nst i t ut i onal Cons t r ai nt s ,St r at egi cc apabi l i t i es

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Cogni t i veSchemat a:Ament al model ofamanger swor l dofwhathi s orherent er pr i s ei nhabi t s .Meani ngwhatwor k swhatdoes n’ t -What k i ndofwor ki st obedoneet c .Bas edonex per i enc e.

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Advant ageofCogni t i veSchemat a:Qui c kDec i si onmaki ng.Wor k ed i nt hepas t .

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Di sadvant agesofCogni t i veSchemat a:Manager si gnor antofi deas f al l i ngout s i det hei rc ogni t i v es c hemat aanddon’ tunder s t andt hr eat pos edbynewt ec hnol ogi es .

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I nt er nalPol i t i calConst r ai nt s:I nanor gani zat i ont her ear es ev er al i ndi v i dual swhohavepowerandi nfluenc eandasweknowpoweri n acc umul at edhenc eani ndi v i dual whohaspower /i nfluenc ewoul dnot l i k et ogi veupt hei rpowerf orc hangei nanor gani z at i onandwoul d oppos et hec hangec al l i ngi ti nappr opr i at e.

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Or gani z at i onalCul t ur e:Or gani z at i onal c ul t ur er ef er st ot hev al ues andt hebel i ef swhi c har ei ngr ai nedi nanor gani z at i onandi ft heyhav e beent her ef oral ongper i odoft i met henac hangei nt hev al uesand

bel i ef smaywel l ber ecei v edwi t hhos t i l i t yanddi s cont ent .Ex ampl e: Manc hes t erUni t ed-Si rAl exandLoui sVanGal l . 

St r at egi cCommi t ment sandCapabi l i t i es:Thi sbas i c al l yr ef er st ot he fi r msi nv es t menti nt angi bl eandi nt angi bl eas s et st os uppor tac er t ai n bus i nes smodel .Ther eas onbehi ndt hi si st hatonceafi r mc ommi t st oo ast r at egi cc ommi t mentt heni fanewt ec hnol ogyori nnov at i onc omes upi tbec omesdi fficul tf ort hatfir mt omeetwi t ht henewt echnol ogy bec aus ei tmaynotsuppor tt henewt ec hnol ogyandal s oi tr equi r es hugec ostt ochange.Ex ampl e:For dUSAandGer manyAudiJ apan

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Ext er nalConst r ai nt s:Thi sbas i cal l yr ef er st ot hegov er nment sort he uni ons.

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Or gani z at i onalChange:Ther eas onswhymos ti ndus t r i esf ai li s bec aus et heyf ai lt ounder s t andr eal i t i esofnewcompet i t i on.Howt o s ucc ess f ul l ymeetwi t hc hange.Leader s hi pc ommi t t edt oc hangeFr eez et heor gani z at i on-Mov et heor gani z at i ont owar dsnewst r at egi c andc ompanyconfi gur at i on-Ref r eez et heor gani z at i ont omov et owar ds newc onfigur at i on.

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Leader shi pcommi t t edt owar dschange:Br i ngi nout s i der

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Unf r eez i ngOr gani z at i on:Thi sbas i cal l ymeansc onf r ont i ngt heal l empl oy eesaboutt hec hanget hati sgoi ngt oocc uri nt heor gani z at i on. I ni t i al l yt heempl oy eesar er el uct antt oc hanges i nc et heybel i ev ei ti s n’ t nec es s ar ybuts t epsf r om t heCEO havet oconv i ncet hem.

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Movi ngTheOr gani zat i on:Meansc hangi ngmanagement ,c ul t ur e, empl oy eebehav i or ,st r at egyor gani z at i on.

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Ref r eez i ngOr gani z at i on:Meanss ol i di f y i ngt hec hangei nt he or gani z at i ons ot hatempl oy eebehavi orbec omess ec ondnat ur e.

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WHYDO BUSI NESSESFAI LI NRESOPNDI NG TO CHANGE?

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Nos ens eofur genc y -Weakc oal i t i ont opus ht hr oughc hange-l ac ka c ompel l i ngv i s i on-poorc ommuni cat i onofv i s i on-dec l ar ev i c t or yt oo s oon-f ai l ur et oempowerl owl ev el manager sandempl oy ees

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Quant um I nnovat i on:I nc or por at i onofanewt ec hnol ogywhi c h c ompl et el ydi s r upt sc ur r entt echnol ogybr i ngi ngar api dshi f ti nt he domi nantpar adi gm.

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I ncr ement alI nnovat i on:I mpr ov ementi nf unc t i onal i t ywi t hi n est abl i shedmar k et .

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I nnovat i onmosti mpor t antcompet i t i veadvant age:New t ec hnol ogy-Reduc edcos t -Bet t erf unc t i onal i t y -Sat i s f ac t i onof c us t omerneeds .

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FAI LUREI NI NNOVATI ON:Demandf ori nnov at i oni sunc er t ai n-Poor Commer c i al i z at i on-PoorSt r at egi cDec i s i ons -Noc ust omerdemand

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Gener at eSuccessf ulI nnovat i ons:Dev el ops ki l l si nbasi cand appl i eds c i ent i fi cr es ear c h-Dev el opagoodt eam f orpr oj ec ts el ec t i on andpr oj ec tmanagement -Usec r os sf unc t i onal i nt egr at i on-Dev el op pr oduc tdev el opmentt eam-Us epar t l ypar al l el dev el opment s -Cr eat i ng asubaut onomousuni t .

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Bui l di ngSki l l si nBasi candAppl i edSci ent i ficResear ch: Appoi nt i ngr es ear c her sandengi neer swhof os t erc r eat i v i t y ,Tel l i ng t hem t odev ot eatl eas t10% oft hei rt i met onewi deasandi nnov at i ons andnotpuni s hi ngt hem i ft heyf ai li ni t .

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Cr eat i ngaGoodPr oj ectSel ect i onandManagementTeam:Ov er al l managementofi nnov at i onpr oc es s -f r om gener at i onofi deat opr oj ect ex ec ut i on-mi ddl es t epi spr oj ec tr efinement .

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Cr ossFunct i onalI nt egr at i on:Ev er y onef r om R&D,Mar k et i ngand pr oduc t i onhav et obeont hesamepage.

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Pr oductDevel opmentTeam:Dev el opmentofPr oduc t

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HeavyWei ghtManager s:I ndi v i dual whoc ar r i espowerandaut hor i t y i nor gani z at i ont ogett hefinanc i al andhumanr es our c esr equi r edby hi st eam t os ucceed.

CHAPTER3 Managi ngDeci si ons 

BoundedEmot i onal l y-Mak i ngdec i s i onsbasedonemot i onsi nbus i nes s

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Deci si onMaki ng:I sanac t i v i t yunder t ak enbyt hemanagerwher et hey anal y z et heopt i onsathand,mak edec i s i onsordet er mi nat i onsf ort he or gani z at i onal goal andcour s eofac t i on.

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Pr ogr ammedDeci si onMaki ng:Dec i s i onswhi c har eaut omat i candr out i nel y occ ur r i ngunderspec i ficr ul esandgui del i nes

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Non-Pr ogr ammedDeci si onMaki ng:Dec i s i onswhi c har enotaut omat i c andnoti nt hedai l yr out i neofamanagerwhi c hoc curduet oaunc er t ai nor unexpec t edt hr eatoroppor t uni t y .

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Rat i onalDeci si onMaki ngModel :Adec i s i onmodel i nwhi cht hedec i s i on mak eri sabl et oi dent i f yandanal y z eal lt hepos s i bl eal t er nat i vesand c onsequenc esandc hooset hemos ts ui t abl ec our s eofact i on.

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Opt i mum Deci si on:Thedec i s i onwhi cht hemanagers eest hebes ti nl i ghtof al lt heal t er nat i v esav ai l abl eandwhi c hhast hebes tc onsequenc esf ort he f ut ur eoft heor gani z at i on

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3STEPS:Anal y z eal l t heal t er nat i v esandc onsequenc es -Rankeac hoft he al t er nat i vesf r om l eas tpr ef er r edt omos ti nt er msofper s onalpr ef er enc es Choos et heal t er nat i v ewi t ht hebes tf ut ur ec onsequences

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Admi ni st r at i veModel :Thi smodel ofdec i si onmaki ngs t at est hateac hand ev er ydec i s i onmadei nanor gani z at i oni sr i s k yandunc er t ai nhenc et he dec i si onwhi c ht hemanager st ak ear et heoneswhi c har emos ts at i s fic i ngand nott heopt i mum dec i si on.

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Basedon3Fact or s:BoundedRat i onal i t y ,I ncompl et eI nf or mat i on, Sat i s fic i ng.

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BoundedRat i onal i t y:I tbas i c al l ys t at est hatt hehumandec i s i onmak i ng pr oc es shasl i mi t at i onbas edont heper s on’ sabi l i t yt oi nt er pr et ,pr oc es sand actoni nf or mat i on.Vol umesofal t er nat i v ess ogr eatt hati ti si mpos si bl et o ev al uat eal lt heal t er nat i v es

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I ncompl et eI nf or mat i on:Thei nf or mat i oni si ncompl et ebec aus ei ti s unc er t ai nast her ei nfi ni t eal t er nat i v esal s obec auseoft heambi gui t yt hati san i nf or mat i onmayhav emul t i pl emeani ngs .

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Sat i sfici ng:Fac edwi t hboundedr at i onal i t yandi nc ompl et ei nf or mat i oni ti s bes tf ort hemangert omak eadeci s i onf r om al i mi t eds ampl eandc hoosi ng mosts at i s f act or ydec i s i onr at hert hant heonewhi chi sopt i mum orbes tt o s ol v eapr obl em.

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JUDGEMENT:Abi l i t yt odev el opas oundopi ni onbas edont hei mpor t anc eof t hei nf or mat i onathand

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6STEPSI NDECI SI ONMAKI NG PROCESS:Rec ogni z et heneedt omak ea dec i si on-Getal l Al t er nat i v es -Eval uat eal lal t er nat i v es-Choos et heBes t Al t er nat i v e-I mpl ementCour seofAc t i on-Feedbac k

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Recogni z et heneedf orDeci si on:Themanagermus tfi r s tr eal i z et hata dec i si onmus tbemade

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Li stAl lTheAl t er nat i ves:Gat heral i s tofal l al t er nat i ves

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Assest heAl t er nat i ves:Bas edon4cr i t er i a:Pr act i cal i t y -Economi c Feas i bi l i t y -Legal i t y -Et hi c al i t y

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Chooset heBestAl t er nat i ve:Dec i dewhi c honei st hebes t

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I mpl ement :Putt hec our s eofact i oni npl ay

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Feedback:Setper f or mances t andar ds /goal s /obj ect i v es.Meas ur eex pec t ed v sact ual r es ul t s -Ev al uat e-T ak ec or r ec t i v ec our s eofact i on

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Heur i st i cs:ThumbRul est hats i mpl i f yDec i s i onMaki ng

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Syst emat i cEr r or s:Er r or speopl emak eagai nandagai nwhi c hr es ul ti npoor dec i si onmak i ng

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4Cogni t i veBi ases:Pr i orHypot hesi s-Repr esent at i vesBi as-I l l usi onof Cont r ol -Escal at i ngCont r ol

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Pr i orHypot hesi s:Thatbi asofdec i si onmak i ngi nwhi c ht hedec i s i onmak er bas esdec i s i onbas edonst r ongpr ev i ousbel i ef swhi c hi sev enbyev i denc e ar ewr ongbutt hedec i s i onmak err ef us est oac cepti t .

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Repr esent at i veBi as:Mak i ngdec i s i onsorgener al i z at i onsbas edonav er y s mal ls ampl e.

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I l l usi onOfCont r ol :T endenc yofdec i s i onmak ert oov eres t i mat ehi s/her ownabi l i t i esandt r yt oc ont r ol eac handev er yas pectofdec i s i onmak i ng

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Escal at i ngCommi t ment :Whenadec i si onmak ers eemst oi nv es tmor e r es our c esi napr oj ec tev ent hought hepr oj ec ti sf ai l i ngt hi nk i ngt hatt hey mi ghtst i l l beabl et os av ei t .

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Sel fFul fil l i ngPr ophecy:St at i ngs omet hi ngandi nt hef ut ur et ur nsoutt obe t r ue.

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AVOI DBI ASESORBETTERDECI SI ONMAKI NG:Unc ov erbi as esandus e t i mewi s el y -Adaptas us t ai nabl es t r at egy -Becomeal ear ni ngor gani zat i onPr omot ei ndi v i dual cr eat i v i t y

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Uncovert heBi asandUseTi meWi sel y:Bl i ndt oy ourownbi as ess eek out erhel pandt i memanagement

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AdaptASust ai nabl eSt r at egy:As t r at egywhi c hfir s tpr ot ect st he envi r onment -pr omot es oc i al r es pons i bi l i t y -ac c eptcul t ur aldi ffer enc es pr ov i deec onomi cbenefi t

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Cr eat eALear ni ngOr gani z at i on:Or gani z at i onalLear ni ng:Abi l i t yoft he managert odev el opt hes ki l l sandabi l i t yoft heempl oy ee,managet he or gani z at i onandi t st as k s .Lear ni ngOr gani z at i on:Max i mi z i ngt hepot ent i al abi l i t yofeac handev er yi ndi v i dualorgr oupi nanor gani z at i ont omax i mi z e t heor gani z at i onall ear ni ng.Cr eat i vi t y:Abi l i t yofdec i si onmak ert odev el op or i gi nalandnov el i deasl eadi ngt of eas i bl ecour seofac t i on

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Pr omot eI ndi vi dualCr eat i vi t y:Thi nkonown

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DATA:Raw,uns ummar i z ed,ar t i c l esorf act s

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I nf or mat i on:Dat aor gani z edi nmeani ngf ulmanner

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I nf or mat i onTechnol ogy:Themanneri nwhi c hi nf or mat i oni st r ans mi t t ed, pr oc es s ed,s t or ed,ac qui r ed,mani pul at ed

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I NFORMATI ONUSEFULNESS:

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Rel evance-Ti mel i ness-Compl et enessQual i t y

MGM Test2 Chapt er8–Rol eofGover nmenti nBusi ness. 

Gov er nmentac t i v i t i eswhi c haffectbus i nessar e: 1.Cr ownCor por at i ons -Compet i ngwi t hf or pr ofitor 2.LawsandRegul at i ons-Laborpr ot ect i on,c ons umeret c . 3.T ax at i onandFi nanc i al Pol i c i es -T axRet ur ns ,I ncome/Pr oper t yt axet c . 4.Gov er nmentEx pendi t ur e-Gr ant s ,Loans 5.Pur c has i ngPol i c i es -Buy sgoodi nt hef or m ofi mpor tet c . 6.Ser vi c es -Pr ov i di ngs t at s ,t r ai ni ng,hel pt ocompani esgoi ng i nt er nat i onal

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TheCanadi anec onomyi sami x edeconomywher et her ec er t ai nal l oc at i onof r es our c esar emadebyt hegov er nmentandsomebyt hemar k et .

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Nat i onalPol i cy:Thi swasagov er nmentdi r ec t i v ewhi c hpl ac edhi gheri mpor t t ar i ffsongoodsf r om t heUS,i nor dert opr ot ectt heCanadi anc ons umer swho wer epr oduc i ngatahi gherc os t .

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1. Cr ownCor por at i ons:Ownedbyf eder al orpr ov i nc i al gov er nment .They wer ec r eat edt opr ovi des peci al s er v i c esl i k eAi rCanada,Rai l way set c.

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Pr i vat i z at i on:Pr oc essofs el l i ngc r ...