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Questions and Answers
The four principal stages of the organizational life cycle are Birth, Growth, Decline, and Life.
The four principal stages of the organizational life cycle are Birth, Growth, Decline, and Life.
False (B)
During the Storming stage of group development, there is generally acceptance of the group's existence.
During the Storming stage of group development, there is generally acceptance of the group's existence.
False (B)
In the Norming stage, relationships and a sense of group identity develop.
In the Norming stage, relationships and a sense of group identity develop.
True (A)
Effective teams benefit from clear goals, mutual trust, and good communication.
Effective teams benefit from clear goals, mutual trust, and good communication.
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Gainsharing is an incentive program that restricts the distribution of employees' performance gains.
Gainsharing is an incentive program that restricts the distribution of employees' performance gains.
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The Adjourning stage focuses on the task performance of the group.
The Adjourning stage focuses on the task performance of the group.
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The Decline stage in the organizational life cycle is characterized by stability and growth.
The Decline stage in the organizational life cycle is characterized by stability and growth.
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Planning in team management involves determining the team's goals.
Planning in team management involves determining the team's goals.
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A group does not necessarily become less effective as it moves through the first four stages of development.
A group does not necessarily become less effective as it moves through the first four stages of development.
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Appropriate leadership is not an essential characteristic of effective teams.
Appropriate leadership is not an essential characteristic of effective teams.
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Environmental Change refers to the speed at which a company's environment shifts.
Environmental Change refers to the speed at which a company's environment shifts.
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Stable environments have many external factors affecting organizations.
Stable environments have many external factors affecting organizations.
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Punctuated equilibrium theory suggests that companies remain in a constant state without shifting between environments.
Punctuated equilibrium theory suggests that companies remain in a constant state without shifting between environments.
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Resource scarcity is the extent to which critical organizational resources are abundant.
Resource scarcity is the extent to which critical organizational resources are abundant.
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Uncertainty involves how effectively managers can understand or predict external changes.
Uncertainty involves how effectively managers can understand or predict external changes.
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The technological component of the general environment does not influence business operations.
The technological component of the general environment does not influence business operations.
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Reactive customer monitoring anticipates problems, trends, and events.
Reactive customer monitoring anticipates problems, trends, and events.
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Competitive analysis is part of the specific environment affecting organizations.
Competitive analysis is part of the specific environment affecting organizations.
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Advocacy groups are concerned citizens aiming to influence business practices.
Advocacy groups are concerned citizens aiming to influence business practices.
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Environmental scanning helps organizations remain unaware of industry factors.
Environmental scanning helps organizations remain unaware of industry factors.
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Managers use cognitive maps to understand potential organizational actions in response to environmental factors.
Managers use cognitive maps to understand potential organizational actions in response to environmental factors.
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Internal environments have no impact on employee attitudes and behaviors at work.
Internal environments have no impact on employee attitudes and behaviors at work.
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Behavioral addition involves replacing an old behavior with a new one.
Behavioral addition involves replacing an old behavior with a new one.
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The beliefs and values of Starbucks Coffee emphasize that success must be shared.
The beliefs and values of Starbucks Coffee emphasize that success must be shared.
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Study Notes
Environmental Change
- Environmental change is the rate at which a company's environment changes.
- Stable environments remain consistent.
- Dynamic environments are constantly changing.
- Punctuated equilibrium theory describes how companies cycle through stable and dynamic environments.
Environmental Complexity
- Environmental complexity refers to the number of external factors impacting an organization.
- Simple environments have a few influencing factors.
- Complex environments have many influencing factors.
Resource Scarcity
- Resource scarcity is the degree to which an organization's external environment has an abundance or scarcity of critical organizational resources.
Uncertainty
- Uncertainty is how well managers can understand or predict external changes impacting their businesses.
Components of the General Environment
- Economy
- Technology
- Sociocultural
- Political/Legal
Future Economic Activity
- Predicting future economic activity is difficult.
- Business confidence indices reflect manager confidence in future business growth.
Technological Component
- Technological advancements constantly shape businesses.
Sociocultural Component
- Changes in demographic trends.
- Shifts in behavior, beliefs, and attitudes.
Political/Legal Component
- Managers must know the laws, regulations, and potential court decisions impacting the business.
- Legislation, regulations, and court decisions directly affect the business environment.
Customer Component
- Monitoring customer wants and needs is essential for success.
- Companies can employ reactive or proactive approaches to customer monitoring.
Competitor Component
- Understanding competitors' strengths and weaknesses is crucial.
Competitive Analysis
- Determining who competitors are.
- Identifying competitors' strengths and weaknesses.
- Understanding competitors' actions and anticipating their moves.
Ethical Decision-Making
- A list of ethical commandments for decision-making.
Supplier Component
- Understanding buyer and supplier dependence.
- Recognizing opportunistic and relationship behaviors.
Industry Regulation
- Regulations specific to industries.
- Impact of government regulations on business practices, and procedures.
Environmental Scanning
- Environmental scanning proactively identifies events and issues impacting an organization.
- It keeps track of industry factors.
- It helps reduce uncertainty.
- It influences strategic plans.
Interpreting Environmental Factors
- Managers interpret events and issues to understand their implications for the organization.
- Opportunities and threats are identified.
Acting on Environmental Factors
- Managers respond to opportunities and threats.
- Deciding on a response to environmental factors.
Internal Environments and Organizational Culture
- Cognitive maps are simplified models of external environments.
- Internal environments affect management, employees, and organizational culture.
- Organizational culture is shared values and beliefs within the organization.
- Factors impacting organizational culture include organizational stories, heroes, founders, company culture values.
- Factors for successful organizational culture include adaptability, consistency, involvement, clear vision, sales growth, return on assets, profits, quality, and employee satisfaction.
- Blast from the past helps understand events that shaped the company.
Levels of Organizational Culture
- Different levels of organizational culture (artifacts, expressed values, and underlying assumptions).
- Example of cultural values presented in Starbucks Coffee.
Organizational Life Cycle
- A predictable sequence of stages of growth and change for an organization.
- Stages include: birth, growth, decline, and death.
Greiner's Model of Organizational Growth
- A model demonstrating stages of organizational growth and crises.
Weitzel and Jonsson's Model of Organizational Decline
- A model demonstrating stages of organizational decline.
Information Requirements for Decision-makers
- Different decision types (structured, unstructured, semistructured)
- Variety of information characteristics depending on the type of decision.
Dimensions of Information
- Classifying information based on timeliness, accuracy, currency, completeness, conciseness, scope, performance, detail, order, presentation, media, etc.
Seven Steps in the Decision-Making Process
- Steps involved in making effective decisions
Group Development Stages
- Stages of group development (forming, storming, norming, performing, adjourning)
- Stages of group development are discussed with focus on resolving uncertainty, conflict, and establishing expectations.
Effective Teams
- Characteristics of effective teams (clear goals, relevant skills, mutual trust, unified commitment, good communication, negotiation skills, appropriate leadership and support).
- Conflict-resolution techniques are noted and how they relate to team functionality.
Managing Teams
- Planning, organizing, leading, and controlling elements of effective team management.
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Description
This quiz explores key concepts related to the changing business environment, including environmental change, complexity, resource scarcity, and uncertainty. Participants will evaluate the impact of different external factors on organizations and their strategies. Understand how these elements influence future economic activity for businesses.
