Management is made up of efficiency and effort. MGMT = E2
What are the four core functions of management? Select the four that are correct.
Planning
Functioning
Managing
Organizing
Controlling
Team Work
Leading
Character of rivalry is apart of the five industry forces according to Porter.
Threat of new entrants measures the degree to which barriers to entry make it easy/difficult for new companies to get started in an industry. If it’s easy for new companies to get started in an industry, then competition will increase and prices and profits will fall.
Other than character of rivalry and threat of new entrants, what are the three remaining industry forces? Select only those that are correct (3).
Bargaining power of suppliers
Bargaining power of manufacturer
Bargaining power of buyers
Threat of market diversification
Threat of substitute products or services
Threat of management failure
Which of the following are included in the steps to rational decision making? Select only the correct answers.
Weigh the criteria
Evaluate each alternative
Be mindful of your surroundings
Identify the decision criteria
Identify risk though risk analysis
Compute the optimal decision
Generate alternative courses of action
Define your decision
Define the problem
Ensure you are considering your ethical values
If a team is being micro managed, it empowers them to work.
You should use a team if there is a large or complex project.
Goals and missions must be clear when using a team to minimize conflict.
Teams should be used when rewards can be provided for individual effort and performance.
A key problem with resources is management resistance. Managers in charge are often reluctant to help teams or turn over resources to them.
Middle managers are the ones that make things happen.
Phil's Cafe imports coffee beans from Columbia regularly. 80% of his profit is from selling coffee while the other 20% comes from pastries. There was a hurricane in Columbia destroying the majority of the crops for coffee beans. What is this an example of?
Threat of new entrants
External environments
Poor management skills
Resource Scarcity
Risk of failure
What affects environmental uncertainty?
Environmental change, environmental instability, and weather
Environmental change, environmental complexity, and resource scarcity
Environmental complexity, environmental instability, and weather
Environmental complexity, environmental instability, and resource scarcity
Environmental instability, environmental uncertainty, and resource scarcity
Environmental uncertainty is highest when environmental change/complexity is extensive and resources are scarce.
Environmental uncertainty is highest when environmental change/complexity is not extensive and resources are scarce.
Using this real-life example, identify which changing environment category it belongs to (Check all that apply) : - $1.83 billion Target takeover of Zellers
Environmental Change
Environmental Complexity
Using this real-life example, identify which changing environment category it belongs to (Check all that apply) : - Flooding in Australia and Pakistan
Environmental Changes
Using this real-life example, identify which changing environment category it belongs to (Check all that apply) : - QR codes
The two types of external environments are general and uncertain.
Specific environment includes which of the following? (Check all that apply) :
Customers
Industry Regulation
Competitors
Advocacy Groups
Suppliers
Economic, technological, sociocultural, and political/legal trends indirectly affect organizations. This statement reflects what type of external environment?
General
Specific
Uncertain
Business confidence indices show how confident actual managers are about past business growth.
Raw materials and information + knowledge, tools, techniques = products/services.
Inputs + environment = outputs
Advocacy groups are groups of concerned citizens who band together to influence business practices, specific industries, businesses, and professions.
Supplier dependence is the degree to which company relies on supplier because of the importance of the supplier’s product to the company and the difficulty of finding other sources of product.
Reactive customer monitoring is identifying/addressing customer trends and problems while they occur.
Proactive monitoring of customers is when managers see events, trends, and problems directly after they occur.
Being a whistle blower in a company means that if someone isn't following policy or breaking policy, you bring these to light.
When we looked at the International Code of Ethics for Canadian Business Principles, we focused on FOUR main areas. Which of the following did we focus on? (check all that apply) :
Concerning community participation and environmental protection
Concerning women's rights
Concerning human rights
Concerning business ethics
Concerning employee rights and health and safety
Concerning business conduct
When selecting and hiring ethical employees what are the two types of tests that you should use?
Aptitude and personality tests
Aptitude and personality-based integrity tests
ethical reasoning and personality-based integrity tests
Overt integrity tests and aptitude tests
Overt integrity tests and personality-based integrity tests
Ethical reasoning and overt integrity tests
What is the first objective of ethics training?
Achieves credibility with employees
Teaches a practical model of ethical decision making
Develops employee awareness of ethics
What is the third objective of ethics training?
What is the second objective of ethics training?
What is the fourth objective of ethics training?
Enforces the practical model of ethical decision making
There isn't a fourth objective of ethics training
In the basic model of ethical decision making the second step is identify the constituents.
In the basic model of ethical decision making the fifth step is act.
In the basic model of ethical decision making the fourth step is analyze your options.
In the basic model of ethical decision making the third step is diagnose the situation.
In the basic model of ethical decision making the seventh step is identify the constituents.
What are the THREE pitfalls of planning? (Check all that apply) :
Impede change
There are four pitfalls of planning
Lack of communication
Detachment of planners
False sense of certainity
Underestimation
When making a plan that works you are to:
1. Set goals 2. Develop committment 3. Track progress toward goal achievement 4.Develop effective action plans 5. Maintain flexibility
When planning from top to bottom, what are the three plans that first-level managers focus on? (Check all that apply) :
Tactical Plans
Standing Plans
Single-use Plans
Marketing Plans
Operational Plans
When planning from top to bottom, what do top managers focus on?
Goals
Mission
Vision
Tactical plans specify how a company will use resources, budgets, and people to accomplish goals within its mission (6 months to 2 years).
MBO stands for Management by operations.
There are two types of operational plans.
There are three types of operational plans, from the following list, select the three. (Check all that apply) :
Organizational Plans
Human Resources
Budgets
There are three steps to the strategy-making process. They are: 1. Assess needs for strategic change, 2. Conduct situation analysis, and 3. Choose strategic alternatives.
According to the strategic reference point theory, managers choose between two basic alternative strategies: - a conservative risk-avoiding strategy that aims to protect existing competitive advantage OR - an aggressive risk-eliminating strategy that aims to extend/create sustainable competitive advantage.
When it comes to the relationship between diversification and risk, which of the following has the highest risk?
Single business
Unrelated diversification
Related diversification
Creative work environments have six components that encourage creativity. (select only the correct 6 components) :
Challenging work
Challenging management
Freedom
Ability to be unique
Work group encouragement
Supervisory encouragement
Lack of organizational impediments
Organizational encouragement
Individual encouragement
Resistance to change is caused by misunderstanding and distrust, and general intolerance for change and what else?
Lack of awareness
People who are afraid
Self-interest
People whoa are set in their ways
Cultures
Change forces include new technology, government regulation, strategic requirement, and what else?
Weather
Economy
Changing markets
Competitor action
Organizational process is the vertical/horizontal configuration of departments, authority, and jobs within a company while Organizational structure is the collection of activities that transforms inputs into outputs that customers value.
There are 5 areas of departmentalization. Which of the following includes all 5?
Customer, Functional, Competitor, Market, Product
Competitor, Geographic, Functional, Product, Market
Geographic, Functional, Customer, Matrix, Product
Functional, Product, Competitor, Matrix, Market
Product, Customer, Functional, Competitor, Geographic
Some advantages of matrix departmentalization include; allows companies to efficiently manage large, complex tasks, such as researching, developing, marketing pharmaceuticals. Efficiency comes from avoiding duplication and the ability to manage large, complex tasks. Matrix project managers have a more diverse set of expertise and experience at their disposal than managers in other forms of departmentalization.
Some disadvantages of functional departmentalization include; Cross-department coordination can be difficult. May lead to slower decision-making. Produces managers and workers with narrow experience and expertise
Matrix organizations violate which principle?
Span of responsibility
Chain of command
Individual manegement
Partnerships
Centralization is when significant authority is found in lower levels of the organization.
Decentralization is when significant authority is found in lower levels of the organization
Return on assets, return on investment, return on equity, and return on sales are all higher with centralization.
What does C-Type conflict stand for?
Consumer conflict
Competitive conflict
Cognitive conflict
Co operational conflict
What does A-Type conflict stand for?
Affective conflict
All around conflict
Alternative conflict
Apparition conflict
Aspirate conflict
What is the second stage of team development? (Hint: we also learned these in Project Management)
Forming
Norming
Adjourning
Storming
Performing
What is the last stage of team development?
BFOQ stands for Bona Fied Occupational Qualification
Cognitive tests are the best tests to do to help employers understand how you make decisions
Employment legislation is covered under provincial legislation.
The Workers Compensation Act is a provincial act that lays out safety standards in what province?
Manitoba
Ontario
Alberta
British Columbia
Quebec
Nova Scotia
Selection tests give organizational decision makers a chance to know who will, and won’t, likely do well in a job.
There are 6 types of selection tests that we talked about in class. Check all that apply.
Personality
Aptitude
Assessment centres
Work sample tests
Biographical data
Specific ability
General ability
Cognitive ability
Employment equity is the planning process used by an employer to eliminate barriers in an organization’s employment procedures and to ensure appropriate representation of specific members of the workforce known as the four designated groups (Select the four designated groups) :
Children
Women
Men
Aboriginal Peoples
Visible Minorities
Teens
Persons with disabilities
Diversity makes good business sense for the following reasons: Greater creativity and improved problem solving, better insight into the needs of a diverse customer/client base and enhanced ability to attract the best talent in a diverse labor market.
1 in 9 Canadians live with a mental disability .
Diversity training and practices that organizations use include: (Select all that apply)
Diversity analysis
Diversity audits
Skill-based diversity training
Personality-based diversity training
Awareness training
Diversity pairing
When it comes to motivation, there are three types of effort that are concerned with the choices that people make. What are the three types? (Select all that apply)
Individual
Direction
Group
Persistance
Initation
Which theory suggests that people are motivated by physiological (food/ water), safety (physical/ economic), belongingness (friendship, love, social interaction), esteem (achievement and recognition), and self-actualization (realizing full potential) needs.
Aldefer's ERG
McClelland's Learned Needs
Maslow's Heirarchy
Which of the following collapses Maslow’s five needs into three: existence (safety and physiological needs), relatedness (belongingness), and growth (esteem and self-actualization).
Maslow's Hierarchy
Aldferder's ERG
Motivating with the basics includes which of the following? (Select all that apply) :
Ask employees what their needs are
Expect people's needs to stay the same
Treat employees like your students
Expect peoples needs to change
Satisfy higher-order needs first
Create opportunities for employees to satisfy higher-order needs
Satisfy lower-order needs first
In terms of the fair decision making processes, what is the difference between distributive justice and procedural justice?
They are the same except that procedural justice is more structured.
Distributive justice is the degree to which outcomes and rewards are fairly distributed or allocated while procedural justice is the perceived fairness of the process used to make reward allocation decisions
Disruptive justice is the perceived fairness of the process used to make reward allocation decisions while procedural justice is the degree to which outcomes and rewards are fairly distributed or allocated
Procedural justice does not exists.
Reinforcement always deals with a consequence. If I did something good, I get something good. If I did a bad job I don’t get my something good. There is always a consequence or outcome when managing people and using this theory.
There are four components to the reinforcement theory, what are they? (Select all that apply) :
Punishment
Positive reinforcement
Extinction
Rewards
Negative reinforcement
Bureaucratic control is the use of hierarchical authority to influence employee behavior by rewarding or punishing employees for compliance or noncompliance with organizational policies, rules, and procedures
Leadership traits include: (Select all that apply)
Drive
Integrity
Self-confidence
Emotional-stability
Cognitive abilities
When should you use participative leadership?
Unstructured tasks
Complex tasks
Unchallenging taks
Structured tasks
When should you use supportive leadership?
Unchallenging tasks
When should you use achievement oriented leadership?
When should you use directive leadership?
What are the five control methods? (Select all that apply) :
Normative
Formative
Concertive
Stormative
Bureaucratic
Self-control
Performative
Objective
What should we control? (select all that apply) :
Quality
Balanced scorecard
Waste and pollution
Quantity
Management
Customer defections
Balanced scorecard is the measurement of organizational performance in four equally important areas: finances, customers, internal operations, and enviroment
We would all rather die than write this exam at 8am.
