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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?

Dynamic and challenging Signup and view all the answers

How do people become managers according to the chapter?

Through education and experience Signup and view all the answers

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

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

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

Team-based work and technology-driven processes Signup and view all the answers

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

The ability to enhance customer convenience Signup and view all the answers

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

Receiving and returning movies by mail Signup and view all the answers

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

A VHS cassette rental Signup and view all the answers

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

Unlimited due dates and no late fees Signup and view all the answers

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

$2 for postage Signup and view all the answers