Management and Organizational Culture Quiz

A deliberate arrangement of people working together to achieve a specific purpose. They have distinct goals, require people to operate, and rely on a structured division of tasks and responsibility.

A business organization that focuses on earning profits by transforming inputs (resources) into outputs (goods and services) to meet customer needs.

The external factors that influence a firm's operations and success, such as economic conditions, regulations, competition, and customer preferences.

The process where firms transform lower-valued resources into higher-valued products or services, ultimately creating value for stakeholders and society.

A model that views the firm as a 'black box' that simply converts inputs into outputs to maximize profits. It focuses on market interactions without explaining how internal operations work.

This theory explains that firms exist because markets are imperfect due to transaction costs. These are costs associated with using markets, like finding information or enforcing contracts.

This theory suggests that firms are a network of contracts between principals (owners) and agents (managers). The contracts define their roles and responsibilities.

An approach to management that emphasizes rationality and efficiency, aiming to make organizations and workers as efficient as possible.

The use of scientific methods to define the "one best way" for a job to be done. It focuses on optimizing tasks and worker efficiency.

A set of principles aimed at improving worker efficiency by analyzing tasks, selecting the right people, providing training and tools, and using incentives.

A management theory that focuses on the overall functions of managers and what constitutes good management practices.

A set of 14 principles that provide guidelines for effective management. They cover aspects like division of work, authority, discipline, and team spirit.

An ideal type of organization characterized by division of labor, a clear hierarchy, formal rules and regulations, and impersonal relationships.

An approach to management that emphasizes individual attitudes and behaviors, as well as group processes in the workplace.

The scientific study of people at work, focusing on improving efficiency by considering emotional, mental, and motivational factors.

An informal organization that exists within formal organizations, characterized by social groups and cliques.

The process of working together to achieve a common goal, emphasizing the importance of cooperation and shared objectives.

The scientific study of people at work, focusing on improving efficiency by considering emotional, mental, and motivational factors.

A situation where the interests of the person who owns a firm (principal) and the person who manages it (agent) differ, leading to potential conflict and reduced effort by the agent.

A strategy for aligning the interests of the principal and the agent by creating contracts that incentivize both parties to work towards common goals. This reduces costs associated with potential conflicts of interest.

A business perspective that sees the value of a firm residing in its unique collection of resources and capabilities. These assets can lead to competitive advantage if they are valuable, rare, difficult to imitate, and non-substitutable.

The separation of ownership (who owns the company) from management (who runs the company). This is common in large firms where many shareholders own the company but don't directly handle operations.

A process of identifying and exploiting opportunities in the market by creating something new or improving existing products or services. It involves taking calculated risks and utilizing resources to achieve a vision.

A person within an established company who takes initiative to introduce innovative ideas and projects. They are essentially entrepreneurs working within the framework of an existing business.

A written document that outlines a business opportunity, its strategy for success, and the plan for implementation. It includes elements like market analysis, financial projections, and operational details.

A person who possesses qualities like creativity, innovation, risk tolerance, and leadership. They are typically driven to achieve goals and are comfortable in ambiguous situations.

The process of establishing a new business, which involves choosing a legal structure, registering with authorities, securing necessary permits and licenses, and setting up operations.

The factors that originate with suppliers, distributors, customers, and competitors that affect a company's ability to get inputs and sell outputs. It's like a tug of war with forces pushing and pulling on the company.

A model analyzing industry attractiveness by considering competition, new entrants, supplier power, buyer power, and substitutes. It helps companies understand their competitive landscape and potential profitability.

The shared values, beliefs, traditions, and behaviors within an organization. It defines the 'culture' or character of the company and influences employee actions.

A culture where values are strong, widely shared, employees identify with the company, and tell positive stories about it. It fosters a strong sense of belonging and commitment.

A culture where values are limited to top management, employees don't feel connected, and mixed messages exist. It creates confusion and weakens employee engagement.

The belief that managers should treat employees with respect and consideration, as their acceptance of authority is crucial for organizational success.

A series of studies conducted at Western Electric Company that revolutionized management thinking by highlighting the influence of social factors on employee productivity.

The phenomenon where workers' performance is influenced by their perception of being observed or studied, regardless of actual changes in work conditions.

A set of negative assumptions about workers, suggesting that they are lazy, avoid responsibility, and require close supervision.

A set of positive assumptions about workers, suggesting that they are motivated, responsible, and enjoy contributing to organizational goals.

An approach to management that uses quantitative techniques, such as statistics, optimization models, and linear programming, to improve decision making.

A view of an organization as a complex, interconnected system with many interacting parts, including individuals, groups, and goals.

A management approach that recognizes that organizations are unique and require different approaches to management based on their specific circumstances.

The degree of change and complexity in the factors surrounding an organization, influencing its operating conditions.

Forces that exist outside an organization and impact its performance, including economic, technological, political, socio-cultural, and legal factors.