Companies
Name five sectors of economic activities
Primary; secondary; tertiary/service; quaternary; quinary
Explain the difference between ‘leader’ and ‘manager’
In brief, leaders are more about inspiring and guiding people towards a vision, while managers are about organising and ensuring tasks are completed to achieve specific, short-term goals. These roles can overlap, and successful individuals often possess qualities of both leadership and management, but the primary distinction lies in their core focus and approach.
Explain the terms ‘business culture’ and ‘corporate culture’
Business culture - how people do business in a specific country/area, defined by national culture.
Corporate culture - the beliefs and ideas that a company has and the way in which they affect how it does business and how its employees behave
Name five features of a successful meeting
Possible answers: clear objectives are set; starts and finishes on time; all attendees know the agenda; no digressions; relevant participants are invited
What org structure is this?
What are its features; pros and cons?
https://disk.yandex.ru/i/fvZXhiSGxCcCtA
Functional/Hierarchy
Features: C-Suite at the top, followed by other senior management, middle managers, etc. Divided into traditional departments like IT, marketing, finance, HR, based on everyone’s functional role.
Pros: increased productivity; skill development; clarity; minimized cost of operation.
Cons: hindered decision-making; competition between departments; narrow scope.
Name five industry groups
Oil & gas; Basic materials; Industrials; Consumer goods; Health Care; Consumer Services; Telecommunications; Utilities; Financials; Technology
Name three classic styles of leadership; their features, pros and cons
Authoritarian/Autocratic.
Features: very directive; complete authority and control over the group and the decisions being made.
Pros: quick decisions; effective in emergency situations
Cons: no room for dissenting views
Democratic/Participative/Participatory
Features: the leader participates in the group and encourages others’ to share their ideas and opinions, even though the leader may have the final say over decisions.
Pros: more ideas produced; dissenting opinions, more effective decisions; people are more committed.
Cons: decisions take more time, numerous meetings, doesn’t work with not competent or motivated group members.
Laissez-faire.
Features: leaders use a hands-off style, letting the group members make decisions.
Pros: group tends to be more productive; works with highly skilled and motivated teams, independence
Cons: is the leader is ineffective, someone else with an authoritarian or democratic style will take over
Explain the difference between ‘high-context cultures’ and ‘low-context cultures’
High-context cultures rely heavily on implicit communication, non-verbal cues, and shared context. Communication is often indirect, emphasizing relationships and trust. Examples include Asian, Middle Eastern, African, and Latin American cultures.
Low-context cultures, on the other hand, prioritize explicit communication using words rather than context. Messages are direct, and individualism is often emphasized. Examples include North American, Western European, and many Northern European cultures.
Name five features of an unsuccessful meeting
Possible answers: no need for a meeting; rambling/digression; no agenda; too much on the agenda; interruptions; no follow-ups.
What org structure is this?
What are its features; pros and cons?
Flat.
Features: few or no levels of management between executives and all other employees.
Pros: empowers self-management and a greater decision making ability for everyone; lower operating costs; increased employee motivation and satisfaction.
Cons: difficult for larger companies; low employee retention; create power struggle.
Explain the following company interactions: B2B; B2C; B2B2C; B2G; C2C. Provide examples
B2B - Business to Business; B2C - Business to Consumer (retail); B2B2C - hybrid of B2B+B2C; B2G - Business to Government; C2C - Consumer to Consumer
Name three levels of managers, skills they need at each level
Name five elements of corporate culture
Corporate values; workplace atmosphere; workplace time; dress code; workplace personalization; employee interaction; community interaction; leisure time.
Name four ways meetings can be classified
Meetings can be classified based on:
1 purpose (informational, decision-making, brainstorming, problem-solving, feedback, etc.)
2 format (in-person, virtual, hybrid, standing)
3 participants (internal, external, cross-departmental, one-on-one)
4 formality (formal, informal)
5 hierarchical level (executive, management, team)
6 frequency (regular, unplanned, annual or quarterly)
Describe responsibilities of a chair
The chair is supposed to lead and facilitate the meeting; ensuring it stays on track, overseeing the adherence to the following protocols and practices.
matrix org chart.
Features: employees are divided into teams by projects or products led by a project or product manager, but also report to a functional manager.
Pros: collaboration; efficiency; various skills within the company; new skill sets development
Cons: unclear managerial and team roles; slow decision-making process; too much work can cause overload; difficult to measure performance
Name four core tasks of managers
planning (setting objectives); organising; integrating (motivating and communicating); measuring performance; developing people
How to develop a positive corporate culture?
Possible answers:
Define a company's vision, values, and behaviours.
Gather feedback from employees about your company's values, ideas, and work methods to improve the workplace environment and performance.
Establish methods, such as training at regular intervals, to communicate company values/behaviours and determine how well they are understood.
Employ high-quality internal communications to maintain consistent contact with employees about company goals, the working environment, and employees' roles in the company's success.
Establish guidelines that reinforce company values, e.g., a rule that employees should not be disturbed by work phone calls, emails, or texts during vacations or other types of time off.
Recognize employees in a positive and public manner as a reward for their contributions to corporate success.
Practise what you preach—ensure that management maintains a consistent behavioural approach to operations rather than cutting corners when convenient.
Be approachable so that all employees may address their concerns and feel connected/of value.
Foster teamwork rather than silos and isolation.
Set goals for diversity and inclusion; celebrate the differences among people as you encourage consistent behaviour from all.
An agenda. Without it, participants cannot prepare for the meeting; no clear objectives
What org structure is this?
What are its features; pros and cons?
Divisional.
Features: the company is organised along a product like or specific geography. Each division has its own functional structure like IT and marketing.
Pros: accountability and transparency; gains local competitive advantage; improves company culture; increased offerings efficiently.
Cons: costs more to operate; economies of scale; encourages rivalries.
Explain the following types of business: Corp; Ltd; Partnership, a sole trader / a sole proprietor
Corp (Public limited / a publicly traded company) - the company is owned by shareholders who receive dividends and gain or lose money if share prices go up or down; Ltd (a private limited company / a Limited liability) - the company is responsible for any losses, not the owners; the company is private, i.e. shares cannot be sold to the public; partnership - two or more people run the business, all partners share profits and losses; a sole trader - the business is owned by one person who is responsible for any debts;
Recognise the leadership styles:
a) Phil Knight: As the co-founder of Nike, Phil Knight exemplifies a _________ leadership style. Knight is known for providing his team with autonomy and fostering a culture of innovation. He believes in hiring talented individuals, trusting them to perform their best, and creating an environment that allows for creativity and independent thinking.
b) Worker Cooperative at a food processing plant – The Worker cooperative is run by workers, where the leader is voted into power by the workers. All the decisions are made collectively on a committee
a) Laissez-faire
b) democratic
Compare communication, attitude to time and space, relationships and conflict resolution in ‘high-context cultures’ and ‘low-context cultures’
High-context: communication is implicit.
Unspoken verbal messages. Verbal messages are fewer. Messages could be indirect. Messages may imply much more than what is directly being said.
You need to be able to ‘read the atmosphere’ Attitude to time: A more relaxed and flexible attitude towards time. Punctuality is less rigid, and the focus is on the quality of interactions rather than sticking to strict schedules. Attitude to space: Personal space is often smaller, and physical proximity is common during conversations. This close interaction fosters a sense of intimacy and connection. Relationships: are built on trust and mutual understanding. Building rapport and trust can take time, and relationships often endure for a long time once established. Conflict Resolution: may avoid direct confrontation to maintain harmony
Low-context: communication is explicit. People rely on spoken messages and direct verbal expression. There’s less reliance on the context of communication. There’s less sensitivity to non-verbal cues. Attitude to time Value punctuality and adherence to schedules. Time is considered a valuable and limited resource, and being late can be seen as disrespectful. Attitude to space Personal space is larger, and people tend to maintain more physical distance during conversations. This can result in a greater sense of formality and less intimacy in interactions. Relationships Relationships are often transactional and task-oriented. Trust can be established more quickly through professional competence and efficiency. Conflict Resolution may approach conflicts directly to find resolutions.
The minutes.
Minutes serve as a formal record, documenting decisions made, actions assigned, and key discussions, ensuring a clear and accurate account of proceedings. They provide a valuable reference for participants, aid in accountability, and help maintain continuity by serving as a historical record of the organization's activities.
What org structure is this? What are its features, pros and cons?
https://disk.yandex.ru/i/B0nLfZegz8ubew
Module 1 class 3
Network.
Features: Decentralization: Authority and decision-making are distributed across multiple interconnected entities or teams.
Flexibility: Relies on external partnerships, outsourcing, and collaborations to achieve goals.
Specialization: Functions are handled by units or external partners with specific expertise.
Technology-driven: Often supported by advanced communication and collaboration tools.
Pros:
Cost Efficiency: Reduces internal overhead by outsourcing tasks.
Flexibility: Quickly adapts to changes in the business environment.
Access to Expertise: Collaborates with specialized external entities.
Innovation: Encourages creativity by leveraging diverse perspectives.
Cons:
Coordination Challenges: Managing multiple external entities can be complex.
Dependency: Over-reliance on partners may create vulnerabilities.
Communication Issues: Risk of misunderstandings or delays between internal and external units.
Lack of Control: Difficult to enforce consistent quality and standards across all partners