ARM400 April 3rd

Which of these groups would NOT be part of the Internal Stakeholders?

• Salespeople with important accounts

• Laborers with specialized skills

• Trade Associations

• Frontline Managers

There are 4 types of Corporate Culture:

Hierarchy

• Decision making authority is well defined; rules and procedures are standardized.

• The organization is more concerned with outward relationships; primary objectives are profitability and bottom-line results.

• The organization is seen as a family. Team work is emphasized and workers are encouraged to voice suggestions on how to improve processes.

• Adaptability is key; authority does not rest with one party, but rather moves from team to team as needed.

There are 4 types of Corporate Culture:

Market

• Decision making authority is well defined; rules and procedures are standardized.

• The organization is more concerned with outward relationships; primary objectives are profitability and bottom-line results.

• The organization is seen as a family. Team work is emphasized and workers are encouraged to voice suggestions on how to improve processes.

• Adaptability is key; authority does not rest with one party, but rather moves from team to team as needed.

There are 4 types of Corporate Culture:

Clan

• Decision making authority is well defined; rules and procedures are standardized.

• The organization is more concerned with outward relationships; primary objectives are profitability and bottom-line results.

• The organization is seen as a family. Team work is emphasized and workers are encouraged to voice suggestions on how to improve processes.

• Adaptability is key; authority does not rest with one party, but rather moves from team to team as needed.

There are 4 types of Corporate Culture:

Adhocracy

• Decision making authority is well defined; rules and procedures are standardized.

• The organization is more concerned with outward relationships; primary objectives are profitability and bottom-line results.

• The organization is seen as a family. Team work is emphasized and workers are encouraged to voice suggestions on how to improve processes.

• Adaptability is key; authority does not rest with one party, but rather moves from team to team as needed.

Organizational Culture and Risk Attitude:

Risk Seeking (rise naive)

• May believe that the results of their risk decision, which is based on short-term horizon, will allow the organization to reap significant rewards worth the risk.

• Focus on the negative side of potential risks. They often seek methods of transferring risk, and may prefer traditional methods of operations.

• Aggressive and conservative tendencies are balanced based on the organization's values, mission and goals.

Organizational Culture and Risk Attitude:

Risk Avoiding

(Risk Obsessed)

• May believe that the results of their risk decision, which is based on short-term horizon, will allow the organization to reap significant rewards worth the risk.

• Focus on the negative side of potential risks. They often seek methods of transferring risk, and may prefer traditional methods of operations.

• Aggressive and conservative tendencies are balanced based on the organization's values, mission and goals.

Organizational Culture and Risk Attitude:

Risk Optimizing

(Risk Managed)

• May believe that the results of their risk decision, which is based on short-term horizon, will allow the organization to reap significant rewards worth the risk.

• Focus on the negative side of potential risks. They often seek methods of transferring risk, and may prefer traditional methods of operations.

• Aggressive and conservative tendencies are balanced based on the organization's values, mission and goals.

Risk attitudes are NOT always consistent thought an organization. An organization's executive board and high-level management may have a much greater tolerance for risk and variance of results than low-level managers and individual employees.

• TRUE

• FALSE

Management Communication Styles:

Delegating

• Management provides broad, strategic direction, but lets stakeholders create their own methods of attaining goals.

• Managers make most decisions and tell others exactly what to do to achieve goals. Management limits the flow of information in the interest of efficiency.

• Management explains the rationale for goals and decisions and encourages stakeholders to pursue related endeavors. Management is open to feedback from others and stake holders may establish their own communication network.