FDNMANP Management Principles Quiz 1
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What type of management perspective is Organization B practicing?

  • Financial Bottom Line Management
  • Social and Ecological Thought Management (correct)
  • Triple Bottom Line Management
  • None of the above

    • Which management function is primarily demonstrated by Manager Debbie's actions in motivating employees and communicating the company's vision?

  • Leading (correct)
  • Organizing
  • Controlling
  • Planning

    • Which of Henri Fayol's management functions can best characterize Employee A's multifaceted role?

  • Organizing (correct)
  • Leading
  • Planning
  • Controlling

    • What type of management perspective does Cat’s Tail Company have?

    <p>Triple Bottom Line Management</p> Signup and view all the answers

    What approach are Corporation A and the government implementing regarding ecological balance?

    <p>Social and Ecological Thought (SET) Approach</p> Signup and view all the answers

    What type of management focuses on all of their stakeholders, ensuring the best decisions for society?

    <p>Triple Bottom Line (TBL) Approach</p> Signup and view all the answers

    What type of management approach is GreenTech Innovations using?

    <p>Social and Ecological Thought (SET) Management</p> Signup and view all the answers

    What economic view is represented by EcoHouse Corp's balanced approach?

    <p>Hybrid</p> Signup and view all the answers

    Among Henry Mintzberg's ten managerial roles, which role transmits decisions and information up, down, and across the organization?

    <p>Spokesperson role</p> Signup and view all the answers

    What type of management perspective does EcoTech Company have?

    <p>Triple Bottom Line Management</p> Signup and view all the answers

    Which management function is Maria primarily using in developing a new marketing strategy?

    <p>Leading</p> Signup and view all the answers

    What type of management perspective is Company XYZ applying with its remote work policy?

    <p>Employee-Centered Management</p> Signup and view all the answers

    Which management function is represented by a non-profit organization expanding community outreach programs?

    <p>Planning</p> Signup and view all the answers

    What management perspective does the beverage company illustrate in launching eco-friendly products?

    <p>Triple Bottom Line (TBL) Management</p> Signup and view all the answers

    In which level of management does Alyssa Ko belong?

    <p>Middle Management / Middle Manager</p> Signup and view all the answers

    What management function does Fernando Maros showcase?

    <p>Leading</p> Signup and view all the answers

    What combination of meaningful work is Person A applying?

    <p>Individualistic and Transcendent</p> Signup and view all the answers

    What combination of entrepreneur is Person B?

    <p>Serial Entrepreneur + Micropreneur + Intrapreneur</p> Signup and view all the answers

    Which approach focuses on long-term cost savings and potential benefits of renewable energy?

    <p>Triple Bottom Line (TBL) Management</p> Signup and view all the answers

    Which approach supports comprehensive, lifecycle-based perspectives on product development?

    <p>Triple Bottom Line (TBL) Management</p> Signup and view all the answers

    Which transportation emits the least greenhouse gas?

    <p>Jogging</p> Signup and view all the answers

    Which management approach prioritizes organically and locally grown produce?

    <p>TBL</p> Signup and view all the answers

    What management approach is Organization A following?

    <p>Financial Bottom Line (FBL) Management</p> Signup and view all the answers

    What management approach is Organization B exemplifying?

    <p>Triple Bottom Line (TBL) Management</p> Signup and view all the answers

    What type of management perspective is PQR Corporation applying with its wellness program?

    <p>Triple Bottom Line Management</p> Signup and view all the answers

    What management perspective is JKL Inc. displaying through its community investments?

    <p>Triple Bottom Line Management</p> Signup and view all the answers

    What type of management perspective does Pakopya ni Edgar have?

    <p>Social and Ecological Thought Management</p> Signup and view all the answers

    What type of management approach is applied by BEN&BENtilador?

    <p>Financial Bottom Line Management</p> Signup and view all the answers

    Which approach emphasizes legal conformity and minimalist adherence to the law?

    <p>FBL</p> Signup and view all the answers

    Which approach focuses on proactive enhancement of socio-ecological well-being?

    <p>SET</p> Signup and view all the answers

    What type of management perspective is Company Y practicing?

    <p>Triple Bottom Line Management</p> Signup and view all the answers

    Which management perspective does Organization B follow?

    <p>Financial Bottom Line Management</p> Signup and view all the answers

    Which of the following is NOT one of the four principles of management?

    <p>Measuring</p> Signup and view all the answers

    Please review the statements below and indicate their accuracy: Statement 1: Effectiveness is the process of doing things right which involves selecting the appropriate organizational goals to achieve success. Statement 2: Efficiency is the process of doing the right things that entails maximizing output while minimizing inputs.

    <p>Both statements are accurate</p> Signup and view all the answers

    Food stall A initially hired another worker to ease the task of the first worker. Overtime, the owner made them work in shifts. The workers are paid per hour. Meanwhile, the owner enjoys the lesser expense she has now. What type of management approach does the business use?

    <p>FBL</p> Signup and view all the answers

    What does the Triple Bottom Line Management framework consider that Financial Bottom Line Management does not?

    <p>Economic, Environmental, and Social Impacts</p> Signup and view all the answers

    Which of the following are important managerial skills?

    <p>Technical, Human, and Conceptual Skills</p> Signup and view all the answers

    Jungkook is a manager at BTS Company. He implemented an initiative at redefining the purpose and nature of work for employees. What management approach is Jungkook likely using?

    <p>SET Management</p> Signup and view all the answers

    Which among the choices is NOT part of a management’s functions?

    <p>Assisting</p> Signup and view all the answers

    Which of the following elements serves to provide energy to both animals and plants (also known as the 'currency of life')?

    <p>Carbon</p> Signup and view all the answers

    Which of the following is NOT part of the approach of FBL management towards ecological well-being?

    <p>Negotiation</p> Signup and view all the answers

    Which of the following approaches to management prioritizes financial gain above all else, leaving social and ecological concerns to external institutions?

    <p>Financial Bottom Line (FBL)</p> Signup and view all the answers

    You are a manager at the ISHEN company. Following which approach would prioritize short-term profit over social and environmental concerns?

    <p>Financial Bottom Line (FBL)</p> Signup and view all the answers

    A small business owner decides to focus on the long-term well-being of her employees and the local community. What type of economic management is she practicing?

    <p>Sustenance Economics</p> Signup and view all the answers

    A manufacturing company has decided to implement a new waste reduction program that minimizes waste and reduces production costs. This aligns with which management perspective?

    <p>TBL management</p> Signup and view all the answers

    Which management perspective emphasizes maximizing financial profits while considering social equity and environmental sustainability?

    <p>Triple Bottom Line (TBL) Management</p> Signup and view all the answers

    An economist is analyzing the economic well-being of a country and considers three key dimensions: income, wealth, and consumption. Which scenario best represents an improvement in all three dimensions?

    <p>The government implements policies that result in higher wages for workers, increased savings rates, and a rise in consumer spending.</p> Signup and view all the answers

    Which statement accurately describes the principles of Triple Bottom Line (TBL)?

    <p>TBL requires businesses to balance their pursuit of profit with initiatives that enhance social equity and environmental health.</p> Signup and view all the answers

    Annie is the top manager of a company. Which of the following important managerial skills does Annie demonstrate in this situation?

    <p>Human Skills</p> Signup and view all the answers

    Eco-Laundry Company powers its stores with wind energy. What type of management perspective is Eco-Laundry Company practicing?

    <p>Triple Bottom Line Management</p> Signup and view all the answers

    ABCDE Corporation has redesigned its internal systems to improve efficiency. Which function of management is ABCDE Corporation demonstrating?

    <p>Organizing</p> Signup and view all the answers

    Shinkansen Kaisha prioritizes the well-being of its employees and community. What type of management approach does Shinkansen Kaisha exemplify?

    <p>Social and Ecological Thought (SET) Management</p> Signup and view all the answers

    EcoSavvy Corp integrates sustainability into its business strategy. What type of management approach does EcoSavvy Corp employ?

    <p>Triple Bottom Line (TBL) Management</p> Signup and view all the answers

    ClearWater Solutions is dedicated to reducing water pollution. Which type of management approach does ClearWater Solutions use?

    <p>Social and Ecological Thought (SET) Management</p> Signup and view all the answers

    Considering the principles of Triple Bottom Line (TBL) management, what is the MOST responsible next step for Gearhead Inc.?

    <p>Investigate alternative recycled materials with lower costs while maintaining ethical labor standards.</p> Signup and view all the answers

    Based on the scenario, which management approach is most likely guiding PulsePoint's current operations?

    <p>Financial Bottom Line (FBL) Management</p> Signup and view all the answers

    According to Fayol's management function, PLANNING is the process of _____ the goals and strategies of an organization and ______ the appropriate organizational resources that are required to achieve them.

    <p>deciding, identifying</p> Signup and view all the answers

    What management approach is used by EcoFash and what specific actions did they do to solidify the approach?

    <p>TBL- EarthlyThreads launches the new clothing line with a balanced approach.</p> Signup and view all the answers

    What managerial role is apparent from Ms. Jimenez's duties?

    <p>Disseminator role</p> Signup and view all the answers

    Which management approach does Company XYZA probably use with their new material to reduce costs?

    <p>TBL Management</p> Signup and view all the answers

    What management approach emphasizes the simultaneous pursuit of economic, environmental, and social value in a business?

    <p>Triple Bottom Line Management</p> Signup and view all the answers

    What type of management focuses primarily on maximizing shareholder value and financial performance?

    <p>Financial Bottom Line Management</p> Signup and view all the answers

    What type of management perspective does Seven Evelyn's approach have?

    <p>Triple Bottom Line Management</p> Signup and view all the answers

    Based on the scenario, which approach is Juice Co Lorde primarily using?

    <p>Triple Bottom Line (TBL) Approach</p> Signup and view all the answers

    Which type of relationship skills does Joana demonstrate?

    <p>Instrumental Relationships Skills</p> Signup and view all the answers

    Which function of management is Isabella performing?

    <p>Planning</p> Signup and view all the answers

    What is a key characteristic of TBL management's approach to customer demand?

    <p>Responding to customer demand for eco-friendly products to enhance financial performance.</p> Signup and view all the answers

    What is NOT a criticism regarding the FBL and TBL approaches to meaningful work?

    <p>They focus too much on social well-being.</p> Signup and view all the answers

    Study Notes

    Principles of Management

    • Four primary principles of management: Leading, Organizing, Planning, and Controlling. Measuring is NOT a principle.
    • Effectiveness: Doing the right things to achieve organizational goals.
    • Efficiency: Maximizing output while minimizing inputs.

    Management Approaches

    • Financial Bottom Line (FBL) Management focuses primarily on financial gains.
    • Triple Bottom Line (TBL) Management considers Economic, Environmental, and Social impacts.
    • Social and Ecological Thought (SET) management emphasizes social equity and ecological sustainability.
    • TBL encourages a balance between profit, social equity, and environmental health.

    Key Managerial Skills

    • Important managerial skills include Technical, Human, and Conceptual skills.
    • Human skills are critical for motivating employees and resolving conflicts.
    • Technical skills involve specific knowledge related to a field, while conceptual skills relate to understanding complex concepts.

    Case Studies and Examples

    • Eco-Laundry Company practices TBL management by using wind energy and biodegradable products while making profits.
    • EarthlyThreads focuses on sustainable practices, promoting socially responsible production processes.
    • Juice Co. Lorde emphasizes FBL in its marketing strategies despite potential health concerns from the advertising.

    Economic Management Approaches

    • Sustenance Economics focuses on long-term well-being of employees and community over immediate financial growth.
    • Hybrid Economics integrates sustainable practices with economic viability.

    Impact on Business Operations

    • Gearhead Inc. should investigate alternative recycled materials while maintaining ethical labor standards, according to TBL principles.
    • EcoSavvy Corp prioritizes ethical sourcing and employee well-being, aligning with TBL management.

    Managerial Roles and Functions

    • Fayol's management functions include Planning, Organizing, Leading, and Controlling.
    • Planning: Determining goals and strategies.
    • Organizing: Aligning resources and tasks to achieve goals.
    • Leading: Communicating vision and motivating teams.

    Customer Demand and Market Strategies

    • TBL management responds to eco-friendly product demand to enhance financial performance.
    • FBL's criticism includes neglecting social and ecological implications in favor of financial success.

    Organizational Examples

    • Organization B practices Social and Ecological Thought Management by prioritizing fair labor and community initiatives.
    • Cat’s Tail Company embodies TBL management by addressing gender pay gaps and promoting equality in the workplace.

    Potential Issues and Considerations

    • Unethical labor practices in overseas factories impact managerial decisions.
    • Security vulnerabilities can affect customer trust and brand reputation in tech startups like PulsePoint.

    Conclusion

    • Importance of balancing financial goals with social and ecological responsibilities in modern management.
    • Emphasis on sustainability can lead to enhanced reputation and long-term success in business strategies.### Management Approaches Overview
    • Financial Bottom Line (FBL) Management: Focuses solely on maximizing shareholder wealth and financial returns. Companies prioritize cost reductions and profit maximization often neglecting social and ecological impacts.
    • Triple Bottom Line (TBL) Management: Strives for a balanced approach focusing on social, ecological, and economic outcomes. This approach values sustainability and stakeholder well-being, measuring success beyond just profits.
    • Social and Ecological Thought (SET) Management: Emphasizes the responsibility of businesses toward societal and environmental health. Organizations focus on eco-friendly practices and social equity while adopting a long-term perspective on impacts.

    Corporate Case Studies

    • Corporation A: Believes ecological responsibility lies with the government, willing to pay 'green' taxes, indicating a SET approach.
    • GreenTech Innovations: Develops eco-friendly technologies while ensuring employee rights and sustainable growth, aligned with SET management.
    • EcoHouse Corp: Balances maximizing owner value with reducing socio-ecological impacts, exemplifying a Hybrid economic view.

    Managerial Roles and Perspectives

    • Mintzberg's Managerial Roles: Spokesperson role involves communicating decisions across organizational levels.
    • Employee-Centered Management: Prioritizes well-being and work-life balance, enhancing productivity and morale through policies like remote work.
    • Planning Function: Involves setting goals and establishing timelines, crucial for strategic initiatives and resource identification.

    Social Impact Initiatives

    • PQR Corporation: Implements a wellness program focusing on employee health leading to improved productivity, indicative of a Triple Bottom Line approach.
    • JKL Inc.: Investments in community development enhance relationships with locals, showing a commitment to SET management.

    Entrepreneurial Perspectives

    • Person A: Starts a sustainable fashion business, embodying Individualistic and Transcendent entrepreneurial attributes.
    • Person B: Initiates multiple businesses to address local issues, a combination of Serial, Micro, and Classic entrepreneur roles.

    Resource Management and Industrial Practices

    • Company Y's Investment: Solar panel installations and community workshops on renewable energy reflect a TBL perspective, promoting both economic and ecological benefits.
    • BEN&BENtilador: Focuses on cost reduction through cheap labor without regard for employee welfare, showcasing FBL management principles.

    Environmental Well-being Approaches

    • Legal Conformity: FBL emphasizes adherence to laws with minimal effort, while SET encourages proactive enhancements to ecological well-being.
    • Ecological Strategies: A balance of planning for sustainability and incorporating social responsibility is vital for businesses today.

    Training and Development

    • Management Functions in Teams: Ensuring effective leadership while addressing emotional and motivational needs of team members is essential for success.
    • Continuous Improvement: Companies need to align employee welfare and community support with their core operational strategies for a comprehensive and sustainable approach.

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    FDNMANP Quiz 1 Compilation of Contributed Questions PDF

    Description

    Test your knowledge of the fundamental principles of management with this quiz. The questions cover effectiveness, efficiency, and the key elements that drive management success. Challenge yourself and see how well you understand these concepts!

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