Management Chapter Learning Objectives
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Questions and Answers

What are the four basic management functions in organizations?

  • Hiring, firing, promoting, demoting
  • Planning, organizing, leading, controlling (correct)
  • Selling, advertising, marketing, branding
  • Researching, analyzing, developing, implementing

    • What are the basic managerial roles played by managers?

  • Negotiating, communicating, strategizing
  • Interpersonal, informational, decisional (correct)
  • Training, supervising, evaluating
  • Creative, technical, administrative

    • What is the scope of management in organizations?

  • It deals with customer relationship management only
  • It involves coordinating resources to achieve organizational goals (correct)
  • It is limited to operational management
  • It focuses solely on financial management

    • What is the nature of management as described in the chapter?

    <p>Dynamic and challenging</p> Signup and view all the answers

    How do people become managers according to the chapter?

    <p>Through education and experience</p> Signup and view all the answers

    What was the immediate inspiration for the idea of Netflix according to Reed Hastings?

    <p>The business model of a gym where you could pay a monthly fee</p> Signup and view all the answers

    What characterizes the new workplace that is emerging in organizations today?

    <p>Team-based work and technology-driven processes</p> Signup and view all the answers

    What aspect of the Netflix business model is highlighted as the essence?

    <p>The ability to enhance customer convenience</p> Signup and view all the answers

    What was the innovation that Netflix initially offered when it launched in April 1998?

    <p>Receiving and returning movies by mail</p> Signup and view all the answers

    What did Reed Hastings incur a $40 late fee for at Blockbuster in 1997?

    <p>A VHS cassette rental</p> Signup and view all the answers

    Which feature of Netflix did Reed Hastings emphasize as having worked in a powerful way?

    <p>Unlimited due dates and no late fees</p> Signup and view all the answers

    What did Netflix initially charge along with a $4 rental fee per movie in 1998?

    <p>$2 for postage</p> Signup and view all the answers

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