MNG Q1 C0MPLETE ASSIGHNMENT QUESTIONS AND ANSWERS GUARANTEED SUCCESS

Email communication - ANSWERS- Advantages- free messaging, easy referencing, quick message delivery, multimedia messages, environmental, less expensive, flexibility, automated, globalized, simplicity, easy referencing - Disadvantages- poor privacy, virus infection, spamming, lacks cordality, distracting, overlooked, addiction, passwords, rumors, misunderstanding, distracting - When- need to get in touch with someone hard to reach, info is not time-sensitive, send someone an electronic file or attachment, need to distribute info to a lot of people, need a written record of the communication - When not to- long and complicated, difficult convo - Email tips- keep it short, meaningful titles and one per topic, watch CCs reply all, proofread, no chain letters, avoid over-flagging, know audience 10 elements of effective email - ANSWERS1. Salutation - use "dear" 2. Honorific - be respectful, call them professor, NO ms, mrs, mr 3. Name- put their name 4. Meaningless nicety- "i hope you are doing well" be polite 5. Remember how they know you- something distinctive about you they would know to put face to name 6. Real reason for email- concise what you need, no excuses, excessive detail or demands 7. Check syllabus and notes before asking, ask classmates 8. Ensure that you have read the syllabus and notes and clarify with them "it says blank so should I blank" 9. Super polite restatement- "if you could lmk at your earliest convenience, i would really appreciate it" 10. Sign off "best, thank you, sincerely" Follow up- gently follow up - Things to include- say you are a student in the class, say class name, section number on what days it meets, ask question, get to point, ask how you want help from professor Why it matters- a skill that you can take in real world, getting so many emails it's important you know how to actually contact them Time management time wasters - ANSWERS- ability to use one's time effectively or productively Importance- make sure you have time for all important activities, to give structure to your days and weeks, to assist in setting goals and in determining priorities - Stress Anxiety Burnout Procrastination Perfectionism Lack of planning Unexpected events Depression Ignoring natural tendencies Emails & social media Losing track of time Ineffective studying Disorganization Bad habits Television strength finder - ANSWERS star pitch - ANSWERS- A structured manner of responding to a behavioralbased interview question by discussing the specific situation, task, action, and result of the situation you are describing. - situation: Describe the situation that you were in or the task that you needed to accomplish, describe a specific event or situation, not a generalization of past, give enough detail, previous job/ event - task: goal working toward, objective, explain what trying to dp - action: describe actions took to address situation with appropriate amount of detail, keep focus on YOU, specific steps, particular contribution - results: outcome of actions, what happened, how, accomplishments, learned dos and donts of a killer presentation virtual presentation - ANSWERS- dont: Take too long on intro, Speak too slow or too dramatic, Emphasize how important you are, Refer to your source too much, Crowd your slides, Use jargon, Give too much background and details, Fail to check timing, Sound like your tlak is mesmorized, Forget to make eye contact - do: Frame story, Plan delivery, Develop stage presence, Plan AV - be brief, be simple, think production, be specific, connect, synchronize, be early presentation - 4 steps - ANSWERS1. plan- who is your audience, why are they there, what is your goal, how long will it be, where will it take place --> business card test (make sure it fits on back of bus card so its not too long) --> intro- get attention, main theme - content, summary/ conclusions- key message --> dont read of script, pay attention to tones, transitions, dont be egotistical, dont use complicated words to sound smart 2. prepare- personal notes, visuals, handouts --> avoid karaoke, over-writing, busy slides; consider bullets instead of sentences, drip feed, choose font well, color, complimentary images, consistency --> Conceptualizing and framing what you want to say = vital Start to end, consider relevance, quick intro convince audience to care about topic Specific examples, unique contributions, details, narrative talk 3. practice- craft is slow to develop, quick to diappear; more you practice better you feel; practice room, technology, speaking , everything 4. presenting- make eye contact, smile, speak (project, confidence, enunciate, turn on, passion), dont repreat words on slide, dont move too much how to give constructive crisism four Rs more tips staircase - ANSWERS- positive comments regarding situation in question, praise for persons strong points, give criticism, remind person of strong points, offer support in areas for improvement and leave on positive note - respond- say thank you, record- details , reflect- on it later, react- act on it - listen carefully without interupting, avoid objections, ask questions to gain clarity and understanding, discuss implementation of the solutions - deny- what problem?, defend - wouldnt understand, explain- i know but i did it bc, understand- i see what you talking about, change- this is what im going to do about it feedback - ANSWERS- what went well... , even better if.. what went well... -traditional- two doses of positive feedback, sandwiching negative or ciritical feedback - lots of bread: weak - losts of ego stroking, other person may not even hear negative feedback - wrap- ask what they think about performance, ask if you could share your impressions as well, have discussion about it, critque and discussion intertwined - open faced- significant amount of critical feedback, ego stroking at the end - all meat- just critical message Time management strategy 1 - ANSWERSKnowing what is important to you and what your priorities are allows you to put those things first as you schedule your time, and therefore guides the way you manage your time. - Determining priorities- Determining your priorities is a process of deciding which of several options or tasks is most important. It involves deciding that one thing is more important than another Time management strategy II - ANSWERSSet goals and make action plans S - specific M - measurable A - attainable R - relevant T - time based Time management strategy III - ANSWERSDevelop an "Action Plan" Step by step plans of how you are going to accomplish your goal. What are you going to do to reach your goal? They allow you to break your goal down into smaller, more manageable portions and give you the chance to make progress towards your goals. Time management strategy IV - ANSWERSThe 80/20 Rule (Pareto's Principle) 80% of your results come from only 20% of your actions. What are you spending your time on? Are you focusing on the 20% of activities that produce 80% of the results in your life? Time Management Strategy V - ANSWERSThe Urgent/Important Matrix Spend time on things that are IMPORTANTand not just urgent. - Important - activities that lead to achieving your goals and have the greatest impact on your life. - Urgent - activities demand immediate attention, but are often associated with someone else's goals rather than your own. - important and urgent = crisis - important and not urgent = goals and planning - not important and urgent = interruptions, maintence, routine tasks - not important and not urgen = distractions Company specifics/ goal - ANSWERSin today's business world, no two companies are the same and each company is governed by its own specific mission statement, set of values & short/ long term goals Mission statement Vision statement - ANSWERS- a statement of the purpose of a company and its reason for existing ex. CVS Health Should tell you what the company intends to do, how they plan to do it, and who they intend to do it for "We provide expert care and innovative solutions in pharmacy and health care that are effective and easy for our customers" - written in present tense not future, describes what we will feel, hear, think, say & do as if we had reached our vision now, are summarized with powerful phrase ex. CVS emphasis on the commitment of the corporations, commitment to people "We strive to improve the quality of human life" Core values - ANSWERSfundamental beliefs of the organization Support the vision, dictate behavior, shape the culture, reflect what the company values; essence of company's identity: principles beliefs/ philosophy of values Ex. CVS: innovation, collaboration, caring, integrity, accountability Board of directors - ANSWERSin any corporation the job of the board is to assess the overall direction and strategy of the business, absolute top of the corporate chain and responsibilities include - Recruiting, training, supervising, and firing executive level management positions, such as CEO, CFO, and COO. - Providing the vision and direction for the company. - Fiduciary responsibility in regards to both the company's assets and the investments of shareholders. CEO - ANSWERSThe CEO = liaison between the board of directors and the management of the company; the "face" of the company to shareholders and media; responsibilities of the CEO include: - Communicating on behalf of the company to investors, employees, and the general public. - Leading and overseeing both long and short term plans in accordance with the company's standards and goals. - Ensuring that internal controls and effective communications systems between departments are in place. - Ensuring that the company maintains high standards of corporate citizenship and social responsibility wherever it does business. Shareholders - ANSWERSanyone who owns a share of stock in a corporation; don't hold any actual positions in the company, have special rights through the Corporate Bylaws and the Shareholder's Agreement. - receives a stake of ownership in the company and residual income in the form of dividends. - The main power of the shareholders= must be on the board, and that the shareholders can elect/fire board members. Shareholders with more stake in the company can exert significant influence on executives. - The corporate bylaws state when the corporation will hold annual meetings, where the meetings will take place, and voting requirements. - In cases where the bylaws and shareholder's agreement are conflicted, the shareholder's agreement generally takes precedence. Stakeholders - ANSWERSnot direct employees of a corporation, but they are parties that are affected either directly or indirectly by the corporation's success. - Vendors, distributors, suppliers, business partners - Not employed by organization but rely on it for future business transactions - Shareholders are stakeholder, stakeholders are NOT always shareholders CFO - ANSWERSChief financial officer in finance dept- responsible for all administrative, financial, and risk management operations of the company; take a broad look for the financial future of the company; responsible for - Developing financial and tax strategies. - Arranging for debt and equity financing. - Personally reviewing and approving all financial records. - Reporting risk issues to the audit committee. - Ensuring the company is within all legal and regulatory requirements. Accounting department - ANSWERSresponsible for recording all cash flows both in and out of the company. They focus on day-to-day operations. cash flow ex: - Billings, accounts receivable, payroll, taxes - Monitors lines of credit given to customers and audits all internal financial statements before they go to the CFO for final approval. - determines the exact cost to make each unit of a product or service, calculates the expenses to run the business, and projects the ultimate expense per unit of a product based on different sales volumes. CMO - ANSWERSChief Marketing Officer and Marketing Department- oversees all marketing initiatives within a company; include product management, product pricing, advertising and promotions, and customer service; responsible for: - Increasing product revenue. - Preparing the overarching marketing strategy for the company, including brand, product placement, and advertising - Managing the marketing budget. - Handling media/press coverage Advertising department - ANSWERScreates and manages department budgets, oversees all advertising functions; provides the written content, images and graphics for ads. - Planning the advertising, including which type of media to advertise in (radio, television, print, online, billboards). - Measuring ad effectiveness, and making the necessary changes if needed. - Consulting with customers to determine how to improve market share and sales. - Recommending creative concept revisions according to the client's needs and preference Sales department - ANSWERSplays a pivotal role in achieving sales targets and generating revenue for an organization through effective planning. responsible for: - Maintaining sales volume, product mix, and selling price by staying updated with supply and demand, changing trends, economic indicators, and competitors. - Identifying and contacting prospective customers. - Delivering effective sales presentations to potential and existing business partners. - Closing deals with customers Public relations - ANSWERSvital part of maintaining the organization's image and of communicating its message to its customers, investors, the media, and the public. - Developing strategies, campaigns, and initiatives to improve public perception of the company. - Maintaining effective working relationships with local and municipal government officials and media representatives. - Responding to information queries from media and the general public. - Creating and launching Internet web pages. CTO - ANSWERSChief technology officer & Info Technology Dept- responsible for overseeing all technical aspects of the company; works with executive management to grow the company through the use of technological resources. - Monitors technological resources and ensures control of IT and IO departmental budgets. - Conducting research and case studies on leading edge technologies and determining if they are suitable for the company's growth. - Evaluate and identify appropriate technology platforms for delivering the company's services. - Collaborating with the appropriate departments to assess and recommend technologies that support company organizational needs and privacy/compliance requirements. Knowledge Dept - ANSWERSWith more info available than ever before in today's business world → must find ways to not only deal with info, but store effectively - Not all data is presented in a clear manner - some of it is highly structured (computations done on a machine) - some is unstructured (common information exchanged). - Must efficiently manage all data so that it can be easily accessed and used by the corporation Innovation Dept - ANSWERSimperative for a company to always be evolving to adapt to all forms of changes in modern bus world whether on large scale global shift or a change in consumer trends - must design, research, develop, analyze and suggest new marketing concepts as well as strategies. - Coordinate new product/service to keep up with consumer wants. - Perform as strategic partner to head innovation of influence change and new processes. CHRO - ANSWERSChief HR Officer in HR Dept- oversees all HR management in areas such as succession planning, training and development, and talent management - Implementing HR efforts that effectively communicate the firm's strategic vision. - Developing strategic recruiting and retention plans to meet the human capital needs of the corporation. - Developing comprehensive compensation and benefit plans to employees that fall within the company's budget. Legal department - ANSWERSheaded by the General Counsel will usually oversee all legal and external affairs matters including litigation, investigations, compliance, mergers and acquisitions, contract matters and international trade issues. - Always being up to date with all relevant information to help the CEO make legal, informed decisions, while also mitigating risk. - Being able to react efficiently in "crisis situations" such as lawsuits, government investigations, and subpoena requests. - Monitoring what happens in Washington D.C. with respect to legislative, administrative, and regulatory policy matters. - Advising managers and executives regarding issues such as contracts, intellectual property, risk management, and insurance CCO - ANSWERSChief Compliance Officer- functions as an independent and objective body that reviews and evaluates compliance issues/concerns within the organization. - ensures the Board of Directors, management and employees are in compliance with the rules and regulations of regulatory agencies and that behavior meets the company's standards. - Develops & reviews & updates standards of conduct to ensure continuing relevance in providing guidance to management & employees. - Ensures proper reporting of violations or potential violations to duly authorized enforcement agencies as appropriate. - Establishes and provides direction and management of the compliance hotline. Risk management - ANSWERSadvises organizations on any potential risks to the profitability or existence of the company; identify & assess threats, put plans in place for if things go wrong and decide how to avoid, reduce or transfer risks - Analyzing risks and identifying, describing and estimating the risks affecting the business. - Conducting audits of policy and compliance to standards, including liaison with internal and external auditors. - Carrying out processes such as purchasing insurance, implementing health and safety measures and making business continuity plans to limit risks and prepare for if things go wrong Communication - ANSWERSprocess of info being exchanged b/w individuals through system of symbols, signs or behavior Organizational communication improving it through training - ANSWERS- process where people stimulate meaning in the minds of other people by verbal / nonverbal messages in context of a formal organization- manager's ability to communicate effectively = important Social glue tying organizations together - Public speaking (change in tone to capture attention), writing, customer service (listen and meet needs of customers), interpersonal communication (interact w/ diff communication styles- role play exercises) Communication apprehension - ANSWERSwhen someone is uncomfortable communicating with others- creates problems for success as managers Affects communication between two people, within teams, during meetings or when giving presentations One way communication Two way communication - ANSWERS- manager sends a message and it is received by employees, no way to know if the message was received correctly - manager sends a message to employees and allows for questions to be asked so feedback is received by the manager Shannon- weaver model of communication - ANSWERSmodel of the dynamics of the two party communication process - Sender- selects a specific message can be nonverbal ex. preparing new policy for employee consisting of written outline of policy - Encoding- transformation of message into signal, sent over communication channel from transmitter to receive Ex. manager transmits new policy to all employees via email - Chanel- medium that transmits the message, influenced by institutional conditions and situational conditions Choice of communication medium effects attitudes and behaviors of receiver - Decoding- receivers decode message sent through channels by translating what is seen/ heard Not perfect due to noise (communication barrier that affects message interpretation like language barrier) - Receiver- person who receives message Feedback importance - ANSWERSshannon weaver model factors in a feedback loop (allows for one to know that message was not received) jargon trigger words - ANSWERS- language peculiar to a particular trade, profession or group- used in organizations, can be confusing to those outside of organization Words in IT world can mean different things in real world - phrases and words that result in communication breakdowns Telling people what to do, ultimatums, labeling people, characterizing person's motives Emo trigger words- stupid, impossible, obviously, etc Active listening - ANSWERS- listening to people in a reactive, active, sensitive, accurate, empathetic, non judgemental way increases satisfaction of conversation and job performance Pay attention to them, eye contact, tone of voice, facial expressions, body language, clarify - Three components: 1. Moderate to high nonverbal involvement 2. Reflects speaker's message using verbal paraphrasing 3. Asks questions that encourage seekers to elaborate Electronic communication - ANSWERS- email & text messages = primary mode for communicating in organizations; Negatives- (frequent checking = stress and overload, miscommunication of emotion occur in email, distracting) Netiquette Social networking Cyberslacking - ANSWERS- rules on how to be polite in email, must have - social media, must remember everyone has access to what you post, blogs = popular for marketing - challenge for organizations, using internet for personal reasons during work hours (shopping) Video Conferencing nonverbal communication - ANSWERS- important communication mode at workplace, advantageous because able to discern emotions through tone of voice/ facial expressions - use of visual cues like body language, posture, distance, eye contact, facial expressions, touch and voice Can decipher messages through facial expressions cross-cultural communication must know guidelines 7 nonverbal comm. types that differ globally - ANSWERS- exchange of info b/w indiv and organizations belonging to diff cultures; --> found that cultural values affected communication competence and performance; Words in some countries translate to weird things in other countries; Difference in language = barrier to communication, but easy to learn about other cultures to form better communication - Guidelines, Non Judgemental, tolerance for ambiguity (be open to new enviro), respect (correct mannerisms from cultures), personalizing knowledge and perception, Displaying empathy (put yourself in other's shoes), Taking turns - Eye contact, Touch, Gestures, Physical space, Facial expressions, Head movements, Posture, Paralanguage (changing in pitch, accent, volume) Knowledge management - ANSWERS- systematic and integrative process of coordinating organization-wide in pursuit of major goals - generating, storing and retrieving info; related to organizational effectiveness Downward communication - ANSWERSflows through chain of command from C-suite execs to employees at the operating level (four categories) - Strategy (high level personnel communicate goals / objectives to low-level employees) - Procedure (uniform guidelines- employee handbooks or instructional manuals) - Feedback (achieving org. Goals and meeting expectations, high level employees provide lower levels with feedback) - Socialization (social communications used to reinforce organization's values, recognize exceptional effort, build rapport among team members) Upward communication - ANSWERSflows from bottom up and essential (5 types) - Problems (subordinate employees notify managers of difficulties in performance) - Suggestions (improvements/ solving problems) - Performance reports (higher level managers meet objectives related to performance and production) - Grievances and disputes (employees direct complains/ disputes to supervisors and managers to resolve) - Financial accounting reports (budge reports travel from bottom to top) Does Not always flow nicely b/c failure to respond, defensiveness and negative attitudes (managers to employees), time and location (physical separation = long time lags) - Improving- implementing an open door policy (inviting), building surveys and exit interviews into organizations culture (seeking feedback), prioritizing participative management (enabling employees to participation in decision making) listening to the grapevine Horizontal communication - ANSWERSfocuses on coordinating shared functions, activities, tasks, projects, within/ across departments (3 types) - Intradepartmental problem solving- members of same department communicate to coordinate systems management - Interdepartmental coordination- departments work tg to manage joint projects/ tasks w/ organizational system - staff advice to line departments- specialists in functional areas communication w/ managers to offer support external communication - ANSWERSflows b/w employees inside the organization and with a variety of people outside the organization; involves customers, suppliers, managers, in other companies, government officials and residents of local community Communication network - ANSWERSpattern of interaction that determines who communications with whom (centralized or decentralized) - Centralized networks- contain a person who is in center of the communication channel, info has to pass through them before going to any other member - Decentralized networks- members of organization can communicate with anyone; employees have equal communication access to all others Public relations - ANSWERS- generate positive publicity for organization and enhance the reputation of the org; Communications, director, Social media influencer, Press secretary, Bloggers, Press releases - about influencing, engaging and building relationships with key stakeholders to shape and frame public perceptions of organization; strategic communication process builds mutual beneficial relationships b/w organizations and publics PR Communication specialist Knowledge transfer Absorptive capacity - ANSWERS- need to know how to communicate, write interesting content, social media use, multimedia use, creativity - how organizational units gain knowledge from other units to enhance innovation and performance Better performance if occupying central network positions that provide access to the new knowledge developed by other units - capacity of an organizational unit to learn- often reflected in the organizations investment in the units research and development What managers do - ANSWERS- know your customers (talk to customers often) Who your target customers are and how to reach them - know your products and services (play the role of a customer) - know your company and its processes (read all of the written policies and procedures of the organization) - prepare your business plan (explain current position and future goals of the organization) What you want to do and where you want it to go