what resistance to change you are likely to have to deal with, related to the growth of your organization. The growth of the organization refers to the addition of the 19 staff over the 3 years and the associated resistance to change. Discuss approaches and techniques you can utilize to address the resistance based on the course materials.
In: Operations Management
>> General Motors, two years after it was saved by U.S.
government bailout, is trumping its last investments in China, of
all places. CBS News business and economics correspondent, Rebecca
Jarvis, is in Shanghai, China with more on the American automaker's
big Asian announcement.
>> Rebecca Jarvis: Here on the streets of Shanghai, American cars are more popular than ever. In fact, the U.S. automakers like General Motors sell more cars here than anywhere else in the world, and while that's good news for the American car companies, it makes many question what it will mean for American jobs. [background noise] Visit General Motors in Shanghai, and you'll find a lot of what you would in Detroit.
>> Rebecca Jarvis: So how similar does this plant look to one in the United States?
>> It's very similar. I mean, the processes are the same, the systems are the same, the quality systems are the same. Really, the only difference are the employees -
>> Rebecca Jarvis: With its Chinese partner, SAIC, GM manufacturers Buicks, Chevys, and Cadillacs in China for their Chinese market that employs more than 13,000 people throughout the country. On Wednesday, GM opened an advanced technology center in Shanghai meant to help it design lighter, safer, and more efficient cars for a market that has proved crucial to its survival.
>> Rebecca Jarvis: How important is being here in China to General Motors and the future of your business?
>> It's obviously very important. This is a strong growth market. It's a growth industry. We're here in China to [inaudible] local market.
>> Rebecca Jarvis: Last year, Chinese consumers bought 16.6 million cars. That's five million more than the number of cars sold in the entire United States. So far, all of the cars GM sells in the U.S. are also made there.
>> Rebecca Jarvis: Do you see a time or a day when GM could be producing cars here and shipping them back to the U.S.?
>> I think right now we have our hands full just producing cars for the local market.
>> Rebecca Jarvis: While General Motors won't say whether
eventually those electric vehicles are going to be produced for the
United States here in China, clearly, China has a competitive
advantage. Lower costs and skyrocketing sales.
How would you characterize the alliance between GM and SAIC Shanghai?
What has driven the GM alliance in Shanghai?
How is the VRIO framework established within the GM alliance in Shanghai?
How can GM combat opportunism that may occur from being in the China market?
What will determine successful performance from the alliance?
In: Operations Management
Eating Well and Doing Good - Case Study
The emergence of socially responsible business models has changed
the way some consumers think about businesses, but it has also
changed the way businesses think about consumers. Buy‐one‐give‐one
(B1G1) companies, for example, give one product or an equal value
in cash to charitable causes for each one purchased, requiring the
businesses to understand two different categories of consumers:
those who would normally consume their products and those who may
consume them due to the firms’ humanitarian model.
This was one of the primary marketing challenges for 1‐For‐1 Foods,
an Indiana‐based B1G1 nutrition‐bar start‐up that retails in the
greater Chicagoland area and gives one bar to homeless shelters in
the area in which each bar is purchased. 1‐For‐1 Foods realized
that its actual target market extended far beyond health and
fitness buffs to socially conscious consumers who might not
normally buy premium nutrition bars.
To better understand these different audiences and learn how they
relate to intersect, 1‐For‐1 Foods turned to Culture Concepts, a
Milwaukee research company, for some pro bono research help. As a
young company, 1‐For‐1 Foods didn’t have a very formidable
marketing budget. So, to help reduce logistical and incentive costs
while ensuring credible and useful results, Culture Concepts
proposed conducting a set of ethnographic studies on larger groups
of people and augmenting the results with online ethnographic
research.
Using this approach, three separate studies were conducted. The
first observed a group of avid nutrition‐bar consumers on a hiking
trip and documented their conversations, habits, and interactions
with health‐food products. The second study observed owners of
shoes sold by TOMS—a fast‐growing Los Angeles‐based company that
gives one pair of shoes to underprivileged children for every pair
purchased—socializing in public and in private, paying particular
attention to the value they placed on their shoes and TOMS’ B1G1
model. The third study used a digital ethnographic approach that
observed what different peer groups of nutrition‐bar consumers and
TOMS shoes consumers were saying about these products via social
media. Highly detailed profiles of the most active consumers of
each product were constructed using publicly available online
information in order to capture the other priorities of each set of
consumers. For the first ethnographic study, the researchers worked
with independent coffee shops in the Chicago area to locate
health‐bar consumers. Because of the social focus of the study,
rather than choose a number of individual participants, Culture
Concepts selected a group of friends consisting of 10 male and
female health‐food consumers from multiple generations that could
be observed collectively. After talking with the group about the
requirements of the study, it was suggested that a hiking trip that
the group was planning would be an ideal setting for an
ethnographic study.
Using a pre-planned hiking trip as the setting for the study
guaranteed that all the participants would be immersed in an
environment that felt natural and meaningful to them, ensuring that
their behavior would be authentic and insightful. The 3‐day study
resulted in extensive documentation of the personalities, social
and individual behaviors, and value expressions of the hikers. It
is worth noting that most of the data was documented in writing due
to the lack of electricity on the trip. However, solar chargers
were used to replenish their smartphone batteries so some video
could be recorded.
Particular attention was paid to how the hikers interacted with
nutrition bars and other health‐ food products that they had
brought with them. A number of powerful insights emerged as a
result of these observations. One important finding was that health
bars appeared to add value to the hikers’ experience both
physically and psychologically. On a basic and quite obvious level,
health bars provided a portable and convenient form of nutritional
sustenance. On a higher level, however, health bars seemed to serve
as tangible symbols of a healthy lifestyle that unified the
experience of natural food with the natural environment, acting as
a visible expression of the hikers’ worldview. As one participant
said, “[Nutrition bars] stand for who I am and what I believe to be
important.”
The deeper meaning of health bars was further evidenced by the
social value that they added to the group dynamic. The hikers
consistently consumed health bars together and often shared and
exchanged different bar brands. Most of the hikers demonstrated
genuine interest in discovering new brands and hearing peer reviews
of popular ones. Additionally, lending further
credence to the idea that health bars have a social
value proposition, half of the hikers reported that they consume
health bars in a similarly social way at their gyms or after
working out.
Working with several different shoe retailers, we identified a
number of TOMS shoe owners to participate in the second
ethnographic study. Like the previous study on nutrition‐bar
consumers, a group of six friends—men and women in their twenties
and thirties—who all owned at least one pair of TOMS shoes was
chosen for observation. We shadowed the group for a day,
accompanying them on a shopping excursion and to dinner at a
downtown Chicago restaurant. Particularly salient topics of
discussion included healthcare, corporate corruption, global
warming, iPhone rumors, and new movies.
These touch points gave us useful information about the values of a
core audience and also served as a reference for participant
responses during one‐on‐one exit interviews that were conducted
after the observation period. During these interviews, participants
were asked what types of ideas they associate with TOMS and with
socially responsible business models in general. A significant
portion of their responses to these questions corresponded with the
conversation topics from earlier in the day. For example, some
ideas that the participants associated with TOMS included the
health and well‐being of others, the value of ethical corporations,
authenticity, and
trendiness. Additionally, almost all of the participants associated
the idea of socially responsible business with environmental
friendliness.
The insights gathered from these live ethnographic studies were
then used to inform an online ethnography that analyzed
conversations about nutrition bars and B1G1 products on social
media networks and profiled a number of consumers who were ardent
evangelists of these products. The study of online conversations
validated a number of hypotheses that emerged from the live
ethnographies, and using publicly available information to profile
key audience members was a quick, affordable, and comprehensive way
to get a detailed view of consumers’ value and lifestyle.
Culture Concepts learned that health bars are not always consumed
in isolation and that many times they are paired with other healthy
activities, such as hiking or working out. Health bars can
sometimes even become a topic of conversation, the facilitators of
social interaction. The fact that they can facilitate social
experiences suggests that they can be symbolic, not merely
symptomatic, of a healthy lifestyle.
Health bars are more than a source of nutrition. To some, they’re a
symbol of a lifestyle, a culture, and a particular set of values
that are shared among health‐conscious consumers. In order to tap
into those sentiments, marketing and advertising cannot just focus
on the nutritional value of the product but should also feature
healthy activities and healthy people in ways that glorify and
reinforce the values of that particular consumer culture.
From TOMS shoe consumers, the researchers learned that their
personal sociopolitical beliefs are very much linked to their
loyalty to TOMS. The B1G1 model is at the heart of why they value
TOMS, and a socially conscious focus is important to them when they
select both products and peers. This culture of socially conscious
consumers prizes integrity and authenticity in their politics and
their purchases. They place a higher value on things that are raw,
real, and worn and that are not pretentious and nonconformist.
Thus, messages directed at this audience should be honest and
simple, and packaging should look natural and organic.
Ensuring that the entire product experience resonates with socially
conscious consumers is pivotal to getting them to remain loyal to
B1G1 brands. It is not enough to have a socially conscious business
model. If the brand experience doesn’t meet their expectations and
conform to their values, then even the best B1G1 brand will be seen
as a poseur and pretender. Simply put, the ethos of socially
conscious brands needs to correspond to the ethos of socially
conscious consumers.
The 1‐For‐1 Foods consumer sits at the intersection of two consumer
cultures, espousing the values of both health‐conscious consumers
and socially conscious consumers. Of all the live ethnography
participants from both groups, over half consumed both nutrition
bars and owned TOMS shoes, demonstrating that there is tangible
overlap between these two core constituencies. Beyond the
overlapping of consumer product preferences, there is also a
salient overlapping of values. Both segments demonstrate deep
consideration for human health, whether their own or that of
others, and an underlying concern for the environment. These values
of vitality and sustainability inform the perceptions and behaviors
of these groups, transforming what they believe and what they
buy.
Answer Questions below:
In: Operations Management
Sammy’s Sofas (SS) is a Charlotte, North Carolina-based company that manufactures and sells upholstered sofas. Due to competition from Asian manufacturers, five years ago SS moved almost all production to a new SS factory in Querétaro, Mexico so they could match the unit cost of their Asian competitors. They did not intend to undercut their competition’s price, partly because they were concerned that a lower price might impair their reputation for high quality. The only products manufactured in its legacy Charlotte plant are new products, which are introduced relatively infrequently. If demand for these products grows to sufficiently high volume, production is moved to Querétaro. If not, SS removes the products from its catalog. Once production starts in Querétaro, lead times run about eight weeks. This lead time includes manufacturing time (cutting the wood, assembling the sofa frame, cutting the upholstery fabric, and assembling and finishing the final product). The lead time also includes packaging and shipping the sofas to SS’s warehouse in Charlotte, which is housed in the same building as the factory.
Customers are primarily large department stores in the U.S., which sell large volumes of SS’s products and which hold SS to very tight delivery schedules. When a customer places an order, SS has 6 days to deliver to the customer’s distribution center. Furthermore, on the given delivery date, SS has a 2-hour window to be at the customer’s receiving dock. If SS has inventory in its Charlotte warehouse, it can easily meet these delivery requests, but if the warehouse has stocked out, shipments almost always will be late. Customers give SS a monthly report on late deliveries. It helps that there is almost no seasonality in the demand. Yet, the president of the company, Jon Dixon, has been quite frustrated recently by increasing reports of late deliveries. His factory manager in Querétaro, in turn, is getting frustrated by the pressure put on him by Jon and the team in Charlotte.
SS’s product line is limited, including only about 200 stock keeping units (SKUs) – a number that accounts for size, style, and fabric (upholstery) variations. For instance, one style, called SS-Q, comes in five different fabrics and two different sizes (love seat and full sofa). SS-Q-BL is a love seat with blue upholstery and is counted as one SKU. An SS-Q sofa in a different size or a different fabric is a different SKU. Jon Dixon will readily tell you that SS’s quality is superior to its many competitors, and the market seems to confirm that assessment. It discourages Jon that occasional defects in color, material or sewing cause delays in shipments from Querétaro to SS’s Charlotte warehouse, but his Quality Assurance manager likes to remind him that it was Jon himself who encouraged them to never ship a defective product.
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Objective |
Definition – How does SS define each objective? |
Measurements – How does, or could, SS measure the objective? |
Rank – How would you rank each objective for SS? |
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Cost |
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Quality |
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Delivery |
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Flexibility |
In: Operations Management
In: Operations Management
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Personal selling is one of the oldest forms of marketing communication; due to its effectiveness, it allows for targeting a specific message to a specific customer. However personal selling is not appropriate for every company or situation.
In: Operations Management
QUESTION: Mr. Horwell is unsure that NOBU has the resources to support the entire IMC you suggested in Q3(advertising, personal selling, public relations, social media marketing, sales promotion). Please rank the promotional mix tools (1= highest priority to 4= lowest priority) and justify.
Traveling in Nobu Style: Converting Restaurant Patrons to Hotel Guests The name “Nobu” is synonymous with an exceptional Japanese dining experience, perfected by chef Nobu Matsuhisa over a more than 30-year career. Matsuhisa, together with actor Robert De Niro and restaurateur Drew Nieporent, opened the first Nobu restaurant in 1994 and to date, there are now 38 Nobu restaurants worldwide. But if you talk to Trevor Horwell, the CEO of Nobu Hospitality, Nobu represents much more than just a restaurant experience. It’s a true lifestyle brand that also encompasses a relatively small, but growing portfolio of luxury hotels, too — eight of which are open now, and eight more are in the pipeline. Horwell’s primary focus as CEO is to continue to grow the Nobu Hotels brand and as he opens up diners’ eyes to the fact that cannot only eat at a Nobu but stay at one, too, he hasn’t forgotten the brand’s origins in the process. “We don’t normally do a hotel unless we think that a Nobu Restaurant can do well in that location,” said Horwell. “That’s very important because what we want to do first and foremost is to make sure there is a draw for locals, and that really comes down to the Nobu Restaurant.” Horwell said the majority of his Nobu hotel restaurant diners — 80 percent on average — are local residents, not hotel guests. “It’s not like a tourist restaurant. We like to attract the locals. We want that built-in customer.” “We are defined by the restaurant, in a way,” he said. “We play to our strengths. If you look at the hotel business today, the majority of hotels are suffering because they don’t lead with food and beverage. don’t have strong food-and-beverage concepts, and a lot of hotels are losing money. Today, we play to our strengths because that is one area that we do very, very well, and we bring in locals.” The idea to launch Nobu Hotels, he said, came from the fact that when Nobu Restaurants were located inside of a hotel, they “were the draw for the hotel and we were bringing in customers.” “If I only convert 5 percent of my customers in Nobu Restaurant to stay in our hotels, then at the end of the day, we’re filling out hotels. It’s not a tall order to do that, and you can do that very well and very quickly if you offer the right product.” Nobu Hotels has the advantage of having built its brand over a 24-year period with its restaurants first, followed by the first Nobu hotel that opened within Caesars Palace Las Vegas in 2013. “The first focus for us, really, is to expose the brand to our restaurant customers,” Horwell said. “We touch all types of Nobu customers. And we also provide instant identity. If you put ‘Nobu Hotel’ on a hotel, the word ‘Nobu’ says something and it attracts a certain type of customer.” Horwell said that, for example, when the first Nobu opened, the hotel had “more than one billion media impressions.” So, what’s next for the brand, and how does Horwell plan to grow Nobu Hotels? He explained, “We’re not driven by reservations systems because we’re small. It isn’t as if we need a huge reservations system to fill a 400-room hotel. That’s why a lot of these corporations do well, because they have the reservations platform to fill the big hotels.” Nobu Hotels, by comparison, average anywhere from 100 to 150 rooms generally. “The reason why those young lifestyle brands have emerged is because they’re like us. They are entrepreneurial, they’re unique because it’s a concept that’s come from the heart, from whoever is the original founder. But when it’s absorbed by a corporation, the whole thing changes. At the end of the day, the specialness is lost because then the corporation’s running it, and then, I think you lose what your original concept was all about. I think that’s the biggest issue.” Horwell also doesn’t necessarily think of Nobu Hotels as occupying a place in luxury hospitality, instead referring to the brand as “special.” “I look at our hotels not as luxury,” he said. “I look at them as special. I like us to be special, in each location we’re in. ‘Luxury’ is a word that’s used too much in terms of ‘everything is luxury today.’ For us, we’re ‘special.'” “That’s why I’m saying, from a company perspective, we’re very entrepreneurial. Today’s evolving luxury traveler is seeking “youthfulness” no matter what age they are, and they are “very curious and very adventurous. Because of that, it’s important for hospitality brands, Nobu included, to not just say they’re unique but to really offer unique experiences. He pointed to Nobu Ryokan Malibu in California as an example. The 16-room retreat overlooks the beach and is right by the ocean, and right next door to the Nobu Restaurant in Malibu. It becomes a destination, and that’s something Nobu wants to offer. It’s also a different concept from what the other Nobu Hotels have. While Nobu Hotels are places where there’s an emphasis on bringing in the locals, the Ryokans are meant to be more private. “The Ryokan is actually a place where people don’t want to necessarily be seen,” Horwell explained. “It’s a hideaway, a retreat. You can only book through a general manager and it’s a special place.” He added, “We will do more Ryokans, definitely, in locations that we think is right.” A major focus for Nobu Hotels is to grow the company and the brand with the right talent and partners, as well as make sure that the Nobu Hotels brand is reaching the right consumers. “The most important thing, from our perspective, is to build a relationship with our existing customers,” he said. “It’s about, first and foremost, on digital, working our databases. We like to do that through email, through a lot of channels. We just brought on a new head of digital. Capturing data is very, very important now, and that’s something that is a main focus and her team.” “I think the main thing for us is the customer relationship management (CRM) because you can do so much with it,” he said. “You can know your customer. It’s one part of the business that we are heavily focused in in and we can extract a lot of information from that.” In addition to beefing up its customer relationship management system, Nobu is also testing out a loyalty partnership, of sorts. The Nobu London Shoreditch joined Design Hotels last year, giving the property access to distribution on Design Hotels’ site, as well as a connection to the Starwood Preferred Guest loyalty program. Three Nobu hotels are also members of Leading Hotels of the World. “A lot of our customers aren’t driven by points,” he said. “When I travel, I don’t go for points. I want to stay in a hotel where I enjoy the staff, the food and beverage, the products — all of that — and I will pay a premium for it.” Appendix A Additional Information about NOBU Nobu Hotels "A Place to go and be seen" By “wrapping” the concept of a luxurious boutique hotel around energized public spaces, Nobu Hotels creates powerful stages for shared experiences of excitement and escapism. Featuring the best of everything with imaginative new restaurants, high- energy bars, relaxing rejuvenation, distinctive service, remarkable retail and an air of celebrity, Nobu Hotels will afford guests and privileged owners the most exclusive entry into unparalleled experiences that lay at the crossroads of innovation and imagination. Source: Excerpted from ‘Nobu Hotels CEO on a Restaurant-First Approach to Hospitality’ by D. Ting. Skift – March 22, 2018. +Experts and image from Nobu restaurant and hotel website
In: Operations Management
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A business plan identifies the responsibilities of general management as they pertain to each functional area and identifies the capital requirements to manage each area. The marketing plan outlines actions that are intended to communicate value, generate interest, and persuade target customers to purchase specific products or services.
In: Operations Management
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Measuring brand health begins with assessing the consumer influence of advertising and other forms of marketing communications such as sponsorship and public relations.
In: Operations Management
"The rules of engagement for running a company that is people-based like Starbucks, and so many other companies: you just can not [sic] continue to leave your people behind and only focus on shareholder value," CEO Howard Schultz told CNN's Poppy Harlow (Wallace, 2014).
In: Operations Management
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Each element of the Communication mix is beneficial at one stage of the AIDA model, but is ineffective in another.
In: Operations Management
Define a geographic area for healthcare delivery purposes.
In: Operations Management
Which four dimensions of value from the customer can be distinguished and how do they differ from one another? (customer lifetime value, customer influencer value, customer referral value, customer knowledge value)
In: Operations Management
Your task: Write one paragraph on how the changing retail landscape might potentially affect your career plans. Your answer should include at least two specific retail changes that could alter the way your targeted employer or industry functions in the future.
In: Operations Management
1.As a manager, you may find the constant pressure to produce praise exhausting.
a.When that happens, it is permissible to hold off until you are fully refreshed
b.When that happens, praise appears “forced” and disingenuous
c.You should never praise employees more frequently than the amount of praise that you receive
d.But remember that however unimportant these compliments seem to you, they’re fulfilling a genuinely vital psychological need in your employees
2.By giving the employee the opportunity to explain what’s going on, you’re communicating that
a.you see them as a person. Your employee probably feels very vulnerable in these moments, and they need to believe that you want to treat them fairly and care about how they perceive the situation
b.you will accept excuses
c.you acknowledge that you are out of touch with your team
d.you conjure up the worst fears of a Theory X manager
3.According to Fuller and Shikaloff, employees are more engaged if
a.they are sufficiently (financially) rewarded for their work
b.they are better educated
c.they work for a manager who is working at least as much as they are
d.management will just get out of their way so they can
get their work done
4.The more a manager knows about the people who work for them,
a.the less confident the manager will be in the employee’s work potential
b.the more intrusive they will become in the employee’s personal life
c.the more he/she will be able to control/manipulate the employee
d.the more they’ll be able to motivate them, coach them,
and help them grow
5.High performers typically
a.place a high value on their own development and see it as a sign that your company is a good place to build a career
b.avoid working for a company without a robust training program
c.find ways to build additional skillsets in the people they work with
d.are demanding (in terms of higher pay/greater benefits)
6.Fuller and Shikaloff have consistently found that larger manager networks correlate with
a.greater employee turnover
b.higher pay levels
c.the creation of a “good ole boy” network
d.a number of different positive business outcomes
7.Frederick Herzberg, a psychologist who studied
employees’ motivation, argued that
a.a manager can effectively incentivize employee development
through additional pay
b.different employees respond to different incentives, thereby making it impossible to find a common approach
c.money is a less powerful motivator than opportunities to learn, advance in their responsibilities, and be recognized for their achievements
d.an employee who does not take the lead in defining and pursuing incentives for professional growth is an employee who will flame out quickly
8.Once maximizers have made a choice, they are likely
to
a.push ahead with their decision, accepting it as the best possible approach
b.find ways to quickly validate their decision
c.apply their new-found approach to an array of business concerns
d.second guess themselves and wonder whether they could have made a better choice. They are more prone to making social comparisons in order to gauge the optimality of their decisions
9.When you delegate, you should see your role
as
a.a micromanager
b.a monitor and a coach
c.hedgehog
d.an enabler
10.Behavioral economist Herbert Simon argued that
a.the goal of utility maximization, as formulated by rational
choice theory, is nearly impossible to achieve in real
life
b.slackers come up for reasons why they can’t maximize
c.the higher the education, the greater the maximization
d.prospective employees should be tested to determine
how well they maximize
11.Many managers make the following mistake:
a.Making an employee’s personal happiness the highest priority produces optimal work outcomes
b.They assume that the personal happiness of their employees conflicts with the needs of the business, and that they must choose between the two
c.An employee who brings his/her personal interests to the workplace obviously has their priorities mixed up
d.They try to juggle the personal interests of all employees with the business’ interests, satisfying neither in the end
12.Delegation of duties
a.gives you more time to focus on activities that require your unique skills and level of authority
b.sends a clear signal to employees exactly who is in control
c.gives you more time with friends and family
d.is discouraged because it makes subordinates less dependent on you
13.Compared to strategic planning, operational planning
a.takes less time
b.Is more specific, less comprehensive, done at a lower level,
involves the relative allocation of small amounts of resources, is
often repetitive in nature and covers a short time span (i.e., one
year or less)
c.begins in the C-suite and filters its way down
d.begins on the floor and filters its way up
14.Paul Hersey says situational leadership
a.requires that employees see a consistent approach to problems by managers
b.isn’t different strokes for different folks. It’s different strokes for the same folks, depending upon what it is you’re trying to get done and what their performance readiness is
c.leaves managers open to the accusation of favoritism among employees
d.effectively leaves the employees in charge of the business. (It is Theory Y run amuck.)
15.According to Robinson’s study, engaging in strategic
planning alone
a.was not found to have such a direct link to high performance
b.was more valuable than engaging in operational planning alone
c.resulted in higher performance over the long term
d.is something that produces intangible benefits difficult to measure
16.A common tactic to diffuse the awkwardness in the feedback process is to:
a.delegate the responsibility to someone who is not personally invested in the outcomes
b.break the feedback into many digestible bits and dole it out over a succession of days
c.do it over lunch
d.open with praise, move to criticism, close with
praise
17.Operational planning refers to:
a.the process leading to the development of short range goals, action plans and procedures to guide the handling of day to day operations
b.a global understanding of a desired endpoint for the organization
c.determination of the firm's mission, its principal strategies, and the key goals these elements are intended to accomplish
d.the oversight required to identify/pursue leading-edge technology
18.According to Robinson’s research, businesspeople
generally thought that operational planning was
a.less important than strategic planning
b.equally important with strategic planning
c.more important to the success of their firm than strategic planning
d.is sector-specific (it is important in certain business sectors, but not in others)
19..A satisficer is
a.agonizes over making a less-than-perfect decision
b.is immune to the criticism that he/she lazy
c.less likely to experience regret, even if a better option presents itself after a decision has already been made
d.someone who stalls out very quickly in their professional careers
20.Satisficers are individuals who
a.quickly come up with excuses about why they can’t do their best
b.are pleased to settle for a good enough option, not necessarily the very best outcome in all respects
c.have a lower appreciation for quality than do maximizers
d.place speed over quality
21.The best time to give feedback, whether positive or
constructive, is
a.after the dust has settled
b.at the end of the workday
c.in the moment
d.right before the employee goes on
vacation
22.A good manager praises personally and often, but
a.not in front of the employee’s fellow employees out of concern for creating envy
b.usually includes it with a mention of perceived employee deficiencies
c.they make sure their accolades are as specific as possible, tailored to their own self-perceptions
d.are cautious not to do it until an employee has
“achieved tenure.”
23.According to Herbert Simon, to make “best” choices
a.listen to your gut feelings, don’t worry about getting the very best all the time, and evaluate each outcome on its own merits rather than against others
b.find a mentor who is also a maximizer
c.go back to school and take a class in statistical analysis
d.create a large network of associates who can provide important feedback
24.The "high" operational planners experienced
a.higher sales and perceived performance, but ones that were not justified by the work and expense of operational planning
b.lower sales and perceived performance than those who prioritized strategic planning over operational planning
c.a temporary boost in productivity that tails off quickly
d.significantly higher sales per employee and
significantly higher levels of perceived performance than did the
firms that did not engage in "high" planning levels across each
functional area
25.A good manager should
a.avoid monitoring the work-life balance of his/her employees, as they will quickly get overwhelmed with the personal problems of employees
b.check in frequently to make sure work isn’t disrupting important life functions like health, family, and leisure.
c.create/enforce rules for employees about achieving the
right work-life balance
d.should avoid discussing with employees the importance of a
healthy work-life balance for fear of appearing to be
hypocritical
In: Operations Management