Intro to Management Principles

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Questions and Answers

Which of the following provides the best definition of management?

  • Achieving organizational goals with passion and effectiveness.
  • Achieving organizational goals correctly and with synergy.
  • Achieving organizational goals efficiently and in a detailed-oriented manner.
  • Achieving organizational goals with both efficiency and effectiveness. (correct)

What are the core functions that constitute the management process?

  • Staffing, planning, motivating, and delegating
  • Scheduling, organizing, leading, and mentoring
  • Planning, organizing, leading, and controlling (correct)
  • Staffing, planning, profiting, and delegating

Faced with a sudden surge in customers after a competitor's closure, Janie inspires her team to exert extra effort to meet customer needs. Which management function is Janie primarily utilizing?

  • Planning
  • Leading (correct)
  • Controlling
  • Organizing

As a yardmaster, Tamar assigns engineers to routes and monitors train arrival times. In performing these tasks, Tamar is primarily engaged in which management functions?

<p>Organizing; controlling (B)</p> Signup and view all the answers

Jorge, as a retail associate, assists customers, manages inventory, and arranges displays. Jorge can be described as a:

<p>Nonmanagerial employee (C)</p> Signup and view all the answers

Matthew implemented a seatbelt policy for his company after learning about their impact on car crash fatalities, even though it wasn't legally required. What kind of management style did Matthew use?

<p>Evidence-based (A)</p> Signup and view all the answers

Scientific management and administrative management, key elements of early management theories, primarily fall under which management viewpoint?

<p>Classical (C)</p> Signup and view all the answers

Alejandro is focused on efficient workers, and assumes workers will act rationally. Alejandro's management style aligns with which viewpoint?

<p>Classical (A)</p> Signup and view all the answers

Kalini wants to see how package delivery routes in a congested city can be improved so more deliveries can be made. Which management style is most appropriate?

<p>Scientific management (D)</p> Signup and view all the answers

According to Frederick Taylor's scientific management principles, what action would most likely increase workers' productivity?

<p>Carefully select workers according to their abilities and give workers training. (D)</p> Signup and view all the answers

A limousine service manager wants to apply administrative management. This would include:

<p>Managing the total organization. (D)</p> Signup and view all the answers

Brenden believes his employees lack motivation. To improve employee actions, Brenden should adopt what viewpoint?

<p>Behavioral (A)</p> Signup and view all the answers

Which sequence correctly orders the phases of thought within the behavioral viewpoint, from earliest to most recent?

<p>Early behaviorism, human relations movement, behavioral science (B)</p> Signup and view all the answers

Hugo Munsterberg is best known as:

<p>The father of industrial psychology. (D)</p> Signup and view all the answers

Editors, assistants, and reporters at a newspaper coordinate on story selection based on community input. This arrangement aligns with the ideas of:

<p>Mary Parker Follett (A)</p> Signup and view all the answers

Kira believes her employees are responsible, capable and trustworthy. What kind of manager is Kira?

<p>Theory Y (B)</p> Signup and view all the answers

Riley, a new executive at a tech company facing scandals, wants to improve ethical standards. What should Riley do?

<p>Set policies that demonstrate organizational support for ethical behaviors. (B)</p> Signup and view all the answers

Jackson attended a workshop that discussed the triple bottom line. What does the triple bottom line measure?

<p>Social, environmental, and financial (C)</p> Signup and view all the answers

What are the components of an organization's internal stakeholders?

<p>The board of directors, employees, and owners (A)</p> Signup and view all the answers

A CEO is improving customer service by concentrating on distributors, local communities, and special-interest groups. What kind of stakeholders are these three groups?

<p>External stakeholders (D)</p> Signup and view all the answers

Keisha asks a friend to clock her in because she is running late. What kind of situation is this?

<p>An ethical dilemma (A)</p> Signup and view all the answers

Pinpoint Diagnostic Laboratory institutes new policies around misappropriation of assets, confidentiality of company information, and patient privacy. Where would these policies be found?

<p>Code of ethics (B)</p> Signup and view all the answers

A national ice cream chain asks its 30 highest paid employees to take a 15% pay cut in order to avoid store closures and downsizing. What approach to ethical dilemmas does this represent?

<p>Utilitarian (A)</p> Signup and view all the answers

Which of the following defines globalization?

<p>The trend of the world economy toward becoming a more interdependent system. (D)</p> Signup and view all the answers

Arturo traveled to Europe, checked his email daily, showed customers his company's website, and returned to the office in time for the board of directors meeting. Arturo doing this the shrinking of time and space due to air travel. What is this called?

<p>The global village (B)</p> Signup and view all the answers

Which three events of the 1980s paved the way for the global economy, according to Rosabeth Moss Kantor?

<p>The Berlin Wall came down, Asian countries opened their economies to foreign investors, and there was a worldwide trend of governments deregulating their economies. (D)</p> Signup and view all the answers

Caleb wants to retain his small business. He believes if he makes new products

<p>can get started more easily and maneuver faster. (D)</p> Signup and view all the answers

Fresh Toppings is based in Sacramento, CA and has restaurants in 25 countries. How is Fresh Toppings viewed?

<p>Multinational corporation (A)</p> Signup and view all the answers

Ethnocentric managers believe:

<p>are superior to all others. (C)</p> Signup and view all the answers

Wyatt, in Belize, requires employees to utilize a time clock, signalling that he is a(n) ______ manager.

<p>Ethnocentric (B)</p> Signup and view all the answers

Manufacturing plants with low labor costs and special privileges in return for employing citizens are known as:

<p>Maquiladoras. (A)</p> Signup and view all the answers

Airbus uses parts made by other companies. What is this called?

<p>Outsourcing (B)</p> Signup and view all the answers

Flashcards

Management

The pursuit of organizational goals efficiently and effectively.

Functions of Management

Planning, organizing, leading, and controlling.

Leading

Inspiring and guiding a team to meet customers' needs.

Organizing

Assigning engineers to train routes.

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Controlling

Calculating how many trains arrived on time.

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Nonmanagerial Employee

An employee who doesn't manage others.

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Evidence-based Management

Making decisions based on observable data and facts.

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Classical Viewpoint

Prioritizes efficiency and assumes rational workers.

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Scientific Management

Analyzing routes to enhance delivery efficiency.

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Taylor's Principles: Productivity

Carefully select workers and give workers training.

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Administrative Management

Focusing on managing the entire organization.

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Behavioral Viewpoint

Understanding human actions and motivating employees.

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Behavioral Thought Phases

Early behaviorism, human relations movement, behavioral science.

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Hugo Munsterberg

He is known as the father of industrial psychology.

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Mary Parker Follett

Editors, assistants, and reporters coordinate to determine which stories should be published.

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Theory Y Manager

Believes workers are responsible and capable.

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Promoting Ethics

Setting policies that support ethical behaviors.

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Triple Bottom Line

Social, environmental, and financial performance.

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Internal Stakeholders

The board of directors, employees, and owners.

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External Stakeholders

Distributors, local communities, and special-interest groups.

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Ethical Dilemma

Punching someone else's timecard is an ethical dilemma.

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Code of Ethics

Policies about the company's ethical standards.

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Utilitarian

An approach to ethical dilemmas.

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Globalization

A growing trend of interconnectedness.

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Global Village

The shrinking of time and space.

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3 Events Paving Way

The Berlin Wall came down, Asian countries opened their economies to foreign investors, and there was a worldwide trend of governments deregulating their economies.

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Small Companies

Companies can get started easily and maneuver faster.

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Multinational Corporation

A business having restaurants in several countries.

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Ethnocentric Managers

Native country, culture, etc. are superior.

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Ethnocentric Manager

Belizean operations are affected by a US-based firm hiring employees in a different country.

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Study Notes

  • Management is defined as the pursuit of organizational goals efficiently and effectively.
  • The four principal functions of management are planning, organizing, leading, and controlling.
  • The manager who assigns engineers to train routes is organizing, and controlling when they calculates how many trains arrived on time.
  • A nonmanagerial employee is an associate for a large retailer who works alone or with other associates answering customer questions, moving inventory, rearranging displays, or completing orders.
  • An evidence-based management style is displayed when a manager issues a company policy requiring seatbelts based on evidence that they prevent fatalities, even before it was legally required.
  • Scientific and administrative management are some of the earliest management theories, and comprise the classical viewpoint.
  • A manager who completely focuses on efficiency and assumes workers are rational is applying the classical viewpoint.
  • Scientific management will study the routes that drivers take through a congested city in order to identify ways that delivery staff can make the most deliveries in each two-hour period.
  • Carefully select workers according to their abilities and give workers training to improve workers' productivity.
  • Administrative management manages the total organization.
  • Brenden needs to adopt the behavioral viewpoint to motivate employees toward achievement.
  • The phases of thought in the behavioral viewpoint from earliest to most recent are early behaviorism, human relations movement, behavioral science.
  • Hugo Munsterberg is known as the father of industrial psychology.
  • Community arrangement aligns with ideas brought forth by Mary Parker Follett.
  • A manager who believes that her workers are responsible and capable, and that they can be trusted when given responsibility is an example of a Theory Y manager.
  • Set policies that demonstrate organizational support for ethical behaviors to promote high ethical standards.
  • Social, environmental, and financial performance is measured using the triple bottom line,
  • An organization's internal stakeholders consist of the board of directors, employees, and owners.
  • Distributors, local communities, and special-interest groups are external stakeholders.
  • An ethical dilemma can occur when you are asked by a close friend to punch their timecard when you arrive for your shift as they are running late, even though it is against factory policies.
  • Pinpoint's policies around misappropriation of assets, confidentiality of company information, patient privacy, political contributions, and conflicts of interest can be found in a code of ethics.
  • Taking a 15% pay cut in response to a sales decline, meant no store closures and no downsizing can be characterized as the utilitarian approach to ethical dilemmas.
  • Globalization is the trend of the world economy toward becoming a more interdependent system.
  • Global village is the “shrinking” of time and space with air travel and the electronic media.
  • The Berlin Wall coming down, Asian countries opening their economies to foreign investors, and a worldwide trend of governments deregulating their economies were three events of the 1980s that paved the way for the global economy, according to Rosabeth Moss Kantor of the Harvard Business School.
  • Small companies can get started more easily and maneuver faster when adding new products.
  • Fresh Toppings, based in Sacramento, California, with restaurants in 25 countries, would be viewed as a multinational corporation.
  • Ethnocentric managers believe that their native country, culture, language, and behavior is superior to all others.
  • The decision to utilize a time clock may signal that he is an ethnocentric manager.
  • Manufacturing plants with low labor costs that give special privileges to their American owners in return for employing Mexican citizens are known as maquiladoras.
  • Outsourcing is the practice of Airbus Inc., a company that builds airplanes, typically orders parts for its airplanes from other companies.
  • A company is licensing its products when it allows a foreign company to pay it a fee to make or distribute the first company's product or service.
  • Pineapple Whip, a company that makes an ice cream-like treat using pineapple, sells its branding, production techniques, and proprietary flavors to other companies for a fee and a share of the profits, they are engaged in franchising.
  • Kick Start will be a wholly owned subsidiary of Memory Makers.
  • Planning and strategic management can give focus by providing direction and momentum.
  • An entrepreneur would outline goals and strategies with success measures.
  • A mission statement expresses why the organization exists, and a vision statement expresses what the organization wants to become.
  • LinkedIn's mission statement is to connect the world's professionals to make them more productive and successful.
  • The three levels of planning are strategic, tactical, and operational.
  • A company should revise its strategic plan every 1 to 2 years.
  • Setting district manager's goals to be achieved over the next 6 to 24 months as part of planning is tactical.
  • Establishing the mission, vision, and values statements is the first step in the strategic management process.
  • Retail unit managers would be at Level 2: Business-level strategy.
  • The three key principles of strategic positioning are the creation of a unique and valuable position, trade-offs in competing, and creating a “fit” among activities.
  • Harvard Business School professor Michael Porter defines strategic positioning as attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company.
  • The steps of the strategic-management process are establishing the mission, vision, and values statements; assess the current reality; formulate the grand strategy; implement the strategy; and maintain strategic control.
  • Assessing the current reality is demonstrated when Zene, a chef and owner, frequently visits competing restaurants to observe them.
  • A SWOT analysis is a useful activity for Breyona, because she keeps a close eye on her company's internal and external environments to identify better ways of doing business and to discover possible opportunities for new products.
  • A search for the strengths, weaknesses, opportunities, and threats influencing an organization's competition is a SWOT analysis.
  • Skills and capabilities that give a company advantages in executing its strategies are organizational strengths in a SWOT analysis.
  • A projection of the future is a forecast.
  • Scenario analysis is the process wherein alternative possible plans are created and then the one that best fits the situation is applied.
  • Trend analysis is the review of holiday sales from the last five years to determine how much inventory to purchase and how many employees to schedule during peak sales times.
  • Benchmarking is the process by which a company compares its performance with that of high-performing organizations.
  • Michael Porter proposed that business-level strategies originate with the primary competitive forces in the firm's environment; these forces are the threats of new entrants, substitute products or services, bargaining power of suppliers and buyers, and competitive rivalries.
  • Bella Blooms should be concerned about the threat of rivalry among competitors because Natural Supply dramatically increased its marketing to farmers in its target market.
  • According to Porter, the cost-focus and focused-differentiation strategies both focus on narrow markets.
  • Organizations endeavor to keep their costs and prices below those of competitors and target a wide market when utilizing a cost-leadership strategy.
  • Planet Pantry is pursuing a differentiation strategy.

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