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Management History Quiz

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@AwesomeSheep

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Questions and Answers

Who made important contributions to scientific management?

Andrew Carnegie and John D. Rockefeller

Fredrick W. Taylor and Frank and Lillian Gilbreth (correct)

Henry Ford and Thomas Edison

Alexander Graham Bell and George Westinghouse

What is the focus of general administrative theory?

Financial management and accounting practices

Marketing strategies and consumer behavior

Product development and innovation

Organizational structure and management principles (correct)

Why is studying management history important?

To predict future management trends

To understand the evolution of management practices (correct)

To study the impact of technology on management

To analyze current market conditions

What approach emphasizes the use of mathematical and statistical techniques in management?

Quantitative Approach Signup and view all the answers

Who made significant contributions to management theory in the context of bureaucracy?

Max Weber Signup and view all the answers

Customers know and understand the product, and brand value has been established. It is also likely that development costs have already been recouped, increasing profitability further. Cash cows Examples: Ford Focus Kellogg’s Corn Flakes Cadbury’s Dairy Milk Can you think of an example. Stars Stars (High market share – fast market growth) The market may be somewhat immature, with new customers being attracted to the marketplace and new com.

Cash cows (High market share – slow market growth) Signup and view all the answers

Study Notes

Boston Matrix (BCG, 1960)

The Boston Matrix was devised by the Boston Consultancy Group in the 1960s to analyze a business's products by dividing them into four categories based on market share and market growth.

Categories of the Boston Matrix

Products are categorized based on their market share and market growth.

Cash Cows

Cash cows have high market share and slow market growth.
They are very profitable products with low advertising expenditure.
Customers are familiar with the product, and brand value has been established.
Development costs have likely been recouped, increasing profitability.
Examples of cash cows: Ford Focus, Kellogg's Corn Flakes, Cadbury's Dairy Milk.

Stars

Stars have high market share and fast market growth.
The market may be somewhat immature, with new customers being attracted to the marketplace.
New competitors may be entering the market, and there is a need for continued investment to maintain market share.

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Description

Test your knowledge of management history with this quiz based on the ninth edition of Stephen P. Robbins and Mary Coulter's "Management Yesterday and Today." Explore the historical background of management and understand the significance of studying management history.