20 Questions
Define Business Economics in one sentence.
Business Economics is the study of how businesses make decisions to allocate resources to achieve their goals.
What is the primary focus of Business Economics?
The primary focus of Business Economics is the optimization of resources within a business.
How does Business Economics contribute to business decision-making?
Business Economics provides analytical tools and frameworks to assess the impact of decisions on a business's profitability and sustainability.
Why is understanding Business Economics important for business managers?
Understanding Business Economics is important for business managers as it helps them make informed decisions to maximize profits and minimize risks.
What is organizational behavior?
The study of human behavior in organizational settings, the interface between human behavior and the organization, and the organization itself.
How can organizational behavioral research be categorized?
In at least three ways: individuals in organizations (micro-level), work groups (meso-level), and how organizations behave (macro-level).
According to Chester Barnard, how do individuals behave when acting in their organizational role?
Differently than when acting separately from the organization.
What is one of the main goals of organizational behavior research?
To revitalize organizational theory and develop a better conceptualization of organizational life.
When did the industrial psychology division of the American Psychological Association add 'organizational' to its name?
1970
According to Miner (2006), is there a definitive point at which organizational behavior became established as a distinct discipline?
No, there is a certain arbitrariness in identifying such a point.
Who raised concerns over the reduction in religious and vocational work experiences during the Industrial Revolution?
Max Weber
Name one of the best known theories on effective organizational management from the practitioners in organizational behavior.
Henri Fayol, Chester Barnard, and Mary Parker Follet
Who was one of the first management consultants and what was his approach known as?
Frederick Taylor, scientific management
What method did the Gilbreths utilize to improve worker efficiency?
Time and motion study
What emerged in the early 20th century and was named after automobile mogul Henry Ford?
Fordism
What did Fordism rely on for the standardization of production?
Assembly lines
What did Sorenson clarify about Fordism and the scientific method?
Fordism developed independently of Taylor
In which factory was the first existing question commissioned in the 1920s?
Hawthorne Works Western Electric factory
What type of principles did bureaucracy rely on, according to Max Weber?
Rational-legal principles
What did the success of the scientific method and Fordism result in?
Widespread adoption of these methods
Test your understanding of Business Economics with this quiz covering the definition, primary focus, contribution to decision-making, and importance for business managers.
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