Management Chapter 2-18 Quiz
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Questions and Answers

Which computer has the highest score after applying the weighted criteria?

  • Lenovo
  • Asus
  • HP (correct)
  • Acer

What is the weight assigned to the speed criterion?

  • 5
  • 10 (correct)
  • 8
  • 4

How is the total score calculated for each computer?

  • Dividing the total score by the number of criteria
  • Subtracting the lowest score from the highest score
  • Multiplying each score by its corresponding weight (correct)
  • Adding the scores of all criteria together

Which option describes the automation score for Asus?

<p>5 (C)</p> Signup and view all the answers

What total score did Lenovo achieve?

<p>198 (A)</p> Signup and view all the answers

Which computer received the highest individual score for accuracy?

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

What should be reassessed before implementing the chosen alternative?

<p>Everyone's agreement on the purchase decision (D)</p> Signup and view all the answers

Which computer scored the lowest in memory?

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

What is intuitive decision-making primarily characterized by?

<p>Making decisions based on gut feelings without conscious thought (A)</p> Signup and view all the answers

In which type of decision-making situation is the problem typically straightforward and familiar?

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

Which situation defines risk in decision-making?

<p>When a manager can estimate the likelihood of certain outcomes (C)</p> Signup and view all the answers

Which of the following is an example of a non-programmed decision?

<p>Deciding whether to acquire another organization (A)</p> Signup and view all the answers

What condition indicates a situation where all potential outcomes are clearly understood?

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

What action should a manager take when applying evidence-based management?

<p>Use the best available evidence and critical thinking to make decisions (D)</p> Signup and view all the answers

What typically characterizes programmed decisions in an organization?

<p>They are straightforward and follow established routines (D)</p> Signup and view all the answers

What might cause a manager to experience escalation of commitment?

<p>Being bound by irrational thoughts and perceptions (D)</p> Signup and view all the answers

What is the concept where decision-makers accept solutions that are good enough?

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

What does bounded rationality imply about managers' decision-making processes?

<p>They are limited in their ability to process information. (B)</p> Signup and view all the answers

Which decision-making process involves making a choice based on personal experiences and accumulated judgment?

<p>Intuitive decision-making (A)</p> Signup and view all the answers

What occurs during the escalation of commitment in a decision-making context?

<p>Individuals increase commitment to a failing decision. (D)</p> Signup and view all the answers

Which assumption of rationality involves having a clear understanding of the problem?

<p>The problem is clear and unambiguous. (A)</p> Signup and view all the answers

In what scenario might a manager display a commitment bias?

<p>By continuously funding a failing project. (B)</p> Signup and view all the answers

What decision-making model emphasizes maximizing payoff through exhaustive information processing?

<p>Rational decision-making (B)</p> Signup and view all the answers

Which of the following is a key characteristic of satisficing?

<p>Choosing the first solution that meets acceptance criteria. (A)</p> Signup and view all the answers

What does the omnipotent view of management state about managers' responsibilities?

<p>Managers directly influence the organization's success or failure. (D)</p> Signup and view all the answers

Which cognitive bias is related to the perceived effectiveness of managers in the omnipotent view?

<p>Halo Effect (D)</p> Signup and view all the answers

In the symbolic view, what is primarily credited for an organization's success or failure?

<p>External factors beyond managers' control. (D)</p> Signup and view all the answers

Which of the following is NOT considered a constraint on managers' discretion?

<p>The community's opinion. (B)</p> Signup and view all the answers

What role do managers have in shaping the organization's culture and environment?

<p>Managers can influence but are mainly constrained by these factors. (A)</p> Signup and view all the answers

Which best describes a feature of the halo effect in managerial evaluations?

<p>Assuming that positive traits in one area correlate with success in all areas. (B)</p> Signup and view all the answers

According to the symbolic view, which of the following factors is NOT a concern for managers?

<p>The preferences of their frontline employees. (D)</p> Signup and view all the answers

What concept reflects the belief that management can foresee and mitigate all potential failures?

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

What is a primary benefit of setting goals for someone in a challenging new role?

<p>It improves focus and acts as a catalyst for success. (B)</p> Signup and view all the answers

Which one of the following is NOT a characteristic of well-written goals?

<p>Informal and flexible. (C)</p> Signup and view all the answers

What does creating SMART goals ensure?

<p>Goals are specific, measurable, achievable, realistic, and time-bound. (C)</p> Signup and view all the answers

In which scenario would involving more organizational members in the planning process be most beneficial?

<p>When developing plans for a rapidly changing environment. (C)</p> Signup and view all the answers

Why is communication of goals to all relevant organizational members important?

<p>It ensures alignment and understanding of objectives. (A)</p> Signup and view all the answers

Which approach to planning relies primarily on top management to define goals?

<p>Traditional planning. (D)</p> Signup and view all the answers

What is one of the first steps in the goal-setting process?

<p>Determine the goals individually or with input from others. (B)</p> Signup and view all the answers

Which of the following factors does NOT affect planning contingencies?

<p>Employee satisfaction ratings. (D)</p> Signup and view all the answers

What does initiating structure primarily focus on in leadership?

<p>Efficiently using resources to achieve goals (D)</p> Signup and view all the answers

Which of the following best describes consideration in leadership?

<p>Being supportive and friendly to team members (A)</p> Signup and view all the answers

What is a characteristic of production-oriented leaders according to the University of Michigan studies?

<p>They focus on planning and coordinating work activities. (A)</p> Signup and view all the answers

Which contingency theory emphasizes matching leadership style to the context of the situation?

<p>Fiedler's Contingency Theory (C)</p> Signup and view all the answers

Which behavior is NOT part of initiating structure?

<p>Being emotionally supportive (B)</p> Signup and view all the answers

In terms of their behavioral dimensions, how do initiating structure and consideration relate?

<p>They correspond closely to the same leadership fundamentals. (A)</p> Signup and view all the answers

What is a criticism of leaders based on the contingency theories?

<p>They fail to consider their working context. (C)</p> Signup and view all the answers

Which of the following behaviors is included in consideration?

<p>Recognizing team members' contributions. (D)</p> Signup and view all the answers

Flashcards

Weighted Criteria

Importance assigned to different factors when making a decision. Values are given to each measure.

Weighted Alternatives

Alternatives are scored according to criteria and their weights.

Total Score

The sum of weighted scores for an alternative across all criteria.

Evaluating Alternatives

Choosing the best option based on prioritized weighting across a set of criteria.

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Criteria

Factors considered for evaluation when selecting a computer for a lab.

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Decision Implementation

Putting the chosen alternative into action

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Ranking Alternatives

Arranging alternatives according to their total weighted scores.

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Computer Lab Needs

Specific requirements for a computer lab.

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Decision Effectiveness Evaluation

Assessing the outcome of a decision to check if the problem was solved.

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Rational Decision-Making

Making choices based on clear goals, considering all options, and selecting the best one.

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Bounded Rationality

Making rational choices, but limited by available information and time.

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Satisficing

Choosing a good enough solution rather than the best possible one.

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Escalation of Commitment

Increasing dedication to a decision even when it seems wrong.

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Intuitive Decision-Making

Making decisions based on experience, feelings, and judgment.

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Job Search Example

Illustrates bounded rationality where settling for a satisfactory job instead of the best option.

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Checking Decision Factors

Reviewing the decision process itself to identify possible errors or missed factors.

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Evidence-Based Management

Decisions based on the best available evidence, data, and research, rather than relying on opinions or assumptions.

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Programmed Decisions

Routine, repetitive decisions made for standardized problems with clear solutions.

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Non-Programmed Decisions

Unique, non-routine decisions required for novel problems with incomplete or uncertain information.

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Certainty Decision

Decisions made when all outcomes are known and predictable.

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Risk Decision

Decisions made when the likelihood of outcomes can be estimated.

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Uncertainty Decision

Decisions made when outcomes are unknown and probabilities cannot be estimated.

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Omnipotent View

Managers are directly responsible for an organization's success or failure. They are the visionaries who steer all aspects of the organization.

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Symbolic View

Much of an organization's success or failure is due to external forces outside managers' control. Managers are not individually responsible for the organization's success or failure.

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Halo Effect

A cognitive bias where positive impressions in one area (like appearance) influence our feelings in another area (like competence).

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External Environment

Factors outside the organization that affect its performance. It includes economic, political, legal, competitive, consumer-based, and technological factors.

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Organizational Culture

The shared values, beliefs, and norms that guide an organization's behavior and decisions.

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Managers' Discretion

The degree of freedom managers have to make decisions and influence outcomes.

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MBO

A management process where goals are set jointly by managers and employees, and used to evaluate performance.

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SMART Goals

Goals that are Specific, Measurable, Achievable, Realistic, and Time-bound.

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Goal-Setting Steps

  1. Review organizational mission, 2. Evaluate resources, 3. Set goals, 4. Write and communicate goals, 5. Review and adjust goals.
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Contingency Factors in Planning

Factors that influence planning, such as manager's level, environmental uncertainty, and future commitment length.

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Traditional Planning

Planning where goals and plans are set at the top and cascade down through the organization.

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Participative Planning

Planning that involves more people throughout the organization.

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Why is goal setting important for new roles?

Goal setting provides focus and direction, especially when feeling overwhelmed.

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What are the benefits of well-written goals?

Well-written goals are outcome-oriented, measurable, specific in timeframe, challenging, documented, and communicated.

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Initiating Structure

A leadership style focused on task-oriented behaviors like planning, scheduling, and providing direction to achieve organizational goals.

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Consideration

A leadership style that focuses on building positive relationships and addressing the emotional needs of team members.

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Production-Oriented Leader

A leader who prioritizes tasks and work processes, focusing on efficient resource utilization and meeting organizational goals.

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Employee-Oriented Leader

A leader who values the well-being and satisfaction of their team members, prioritizing their needs and fostering a supportive environment.

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Contingency Theories of Leadership

Leadership models suggesting that the effectiveness of a leadership style depends on the specific situation or context.

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Fiedler Contingency Model

A leadership theory proposing that leadership effectiveness is determined by the match between a leader's style (task-oriented or relationship-oriented) and situational favorableness.

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Hersey-Blanchard Situational Leadership Theory

A leadership model emphasizing the need to adapt leadership style based on the maturity level of followers, adjusting from directive to supportive approaches.

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Path-Goal Theory

A leadership model that focuses on how leaders can influence followers' motivation and performance by clarifying paths to desired goals and providing support along the way.

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Study Notes

Exam Content

  • Key topics covered include:
    • Chapter 2: Decision Making
    • Chapter 3: External Environment & Organizational Culture
    • Chapter 8: Planning
    • Chapter 11: Organizing
    • Chapter 17: Leading
    • Chapter 18: Controlling
  • Exam difficulty is balanced, with easy, medium, and hard questions
  • Multiple-choice questions blend case-based and definition-type questions

Chapter 2: Making Decisions

  • Decision-making is an 8-step process:
    • Identify the problem
    • Identify decision criteria
    • Weight the criteria
    • Develop alternatives
    • Analyze alternatives
    • Select an alternative
    • Implement the alternative
    • Evaluate decision effectiveness.
  • An example decision-making process is detailed for replacing computer equipment in a computer lab. Criteria such as speed, accuracy, memory, and automation are used. Alternatives available (Laptop brands) are evaluated based on the importance assigned to different criteria like speed (10), accuracy (8), memory (5) and automation (4). Finally, the best laptop is selected based on weighted values.

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Fundamentals of Management Final Exam Study Guide 2024-1 PDF

Description

Test your understanding of key management concepts from Chapters 2, 3, 8, 11, 17, and 18. This quiz covers decision making, organizational culture, planning, organizing, leading, and controlling, with a mix of easy, medium, and hard questions. Prepare for a balanced challenge as you navigate case-based and definition-type questions.

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