Alfred Rappaport discusses 10 ways to create shareholder value. Those ways can be separated into three categories: Strategy & Management, Reward & Compensation, and Shareholders.
1. Digitally Savvy Kids Grow Up and Change Everything
Generation Y will mature being quick adopters of new technology.
Generation Z will be natively fluent in both mobile and social platforms.
Summary by Marina…
What is IT compliance?
IT compliance is a key element of a business’ risk management and a crucial aspect of good governance. Corporate governance is about the need for businesses to identify, understand, and comply with a number of laws, regulations, and standards which affect how a company operates. IT compliance focuses on
- electronic data processing,
- networks, and
- IT infrastructure.
A compliant company has adopted best practice procedures including internal controls to protect IT systems, processes and ultimately the value of corporate assets. The main objective of laws and regulatory requirements is to ensure that risk are made transparent and that sufficient controls are implemented so that problems may be identified and dealt with as early as possible.
Summary by Carina…
Management deals with creating organizations, order, and stability while leadership has to do with creating energy, thrust, alignment, focus, and commitment.
Performance-maintenance theory by Misumi and Peterson has 2 dimensions:
- Initiating structures: Initiating structure behaviors included those related to defining and organizing what roles, establishing clear patterns of organization, communication, and developing ways of getting work done.
- Consideration: Consideration behaviors included those related to developing warm and nurturing work relationships and those related to developing trust and respect among coworkers.
Managerial grid by Blake and Mouton has two factors:
- Focus on production: Leads a person to emphasize results, order, speed, and quality.
- Focus on people: Emphasizes the needs and feelings of people.
Summary by Carina…
- EI is a strategic asset facilitating improved organizational performance.
- IQ is necessary but not sufficient.
EI could play a crucial role in improving individuals’ performance in career prospect.
- Studies on carreer performance of executives revealed that managers who are aware and have a true understanding of their own and others’ emotions, and are able to use that understanding to effectively motivate, inspire, challenge, and connect with others are far more effective than traditional managers who actively separate any emotions from the workplace and promote methodical , detached, micro-managing style of supervision.
- EI abilities are two times more crucial for performance excellence and technical and cognitive ability.
- EI can also raise the level of individual and team performance.
- EI tend to display superior task performance skills.
- EI is more important screening criterion than intellect and other managerial skills.
- EI provides both performance advantages and career advancement opportunities.
Summary by Carina…
Virtual means in terms of differing from traditional work:
- location of the workers
- where and how work is accomplished
- basis for relationships between workers and organizations and between organizations
Virtual work environment means physically or temporally dispersed.
- new employee-employer relationship like.
- contingent or contract employee who is self-employed and has no dominant organizational affiliation but has temporary relationships with multiple organizations.
- electronically connected contractors or “e-lancers” move the economy from its fundamental unit which is command-and-control organizations to one based on the work of individuals.
Summary by Carina…
A VT is a group of people with complementary competencies who may be geographically and temporally dispersed, communicate via information technologies, and execute simultaneous and collaborative work processes in order to accomplish a common objective.
Why? Knowledge formalization.
Yet another awesome summary by Maria…
Writing requires a clear sense of direction. The supervisor needs to manage for clarity, time and fear.
The essence of management is
- treating workers well,
- providing useful feedback,
- social support, and
- the room for self-determination
Professionals often treat what they do as an entirely intellectual process and try to ignore the emotional component. Denying the validity of emotions opens the way of overlooking the need of social support and the need of self-determination. Students need to be free to make mistakes to learn from those!
Primary purpose of writing is to crystallize original ideas and to nail them down in a form that others can understand and appreciate. Degrees, tenure and promotion are by-products.
This summary was proudly brought to you by Maria…
Pricing affects consumption: People are more likely to consume a product when they are aware of its cost.
Common pricing practices such as advance sales, season tickets, price bundling all serve to mask how much a buyer has spent on a given product – decreasing the likelihood that the buyer will use it. A customer who doesn’t use a product is unlikely to buy that product again.
This summary was proudly provided by Carina…
“A virtual world (VW) is an instantiation of a metaverse – a fully immersive 3D virtual space in which people interact with one another through avatars and software agents”.
VWs are gaining attention because they provide technology capabilities that can transform education, learning, organizational communication, and even VPM. The goal of the paper is to highlight the technology capabilities in those new environments.