Management Theories and Concepts Quiz

Management Theories and Concepts

• Classical management theories focus on efficiency, emphasizing scientific (Taylor, Gilbreth) and administrative (Fayol, Weber) principles. Workers viewed as components of the system, with a mechanistic approach.
• Behavioral theories focuses on understanding and motivating human behavior within organizations emphasizing scientific research of human behavior.
• Quantitative management focuses on management of production and delivery, using evidence-based principles.
• Systems theory views organizations as integrated parts interacting with each other to achieve common goals. It can either be closed or open.
• Contingent theory emphasizes flexibility in management styles depending on the specific situation, individuals, and environment.
• Contemporary theory includes learning organizations, high-performance work practices, and shared value.

Hawthorne Experiments

• The Hawthorne studies demonstrated that employees' productivity is influenced by factors beyond just physical conditions. Attention and care from managers, recognizing employee welfare, positively influence performance.

Maslow's Hierarchy of Needs

• Maslow's hierarchy of needs describes a five-tiered model of human motivation, from physiological needs to the need for self-actualization.

Mintzberg's Managerial Roles

• Managers fulfill interpersonal, informational, and decisional roles.

Mission and Vision Statements

• Mission statements articulate the purpose and reason for a company's existence, while vision statements describe its aspirations for the future.

Ethics

• Ethics refers to the standards of right and wrong that influence behavior. Organizational culture plays a crucial role in ethics.

Stakeholder Analysis

• Internal stakeholders include employees, owners, and the board of directors. External stakeholders encompass customers, suppliers, distributors, unions, government, and lenders.

Management Skills

• Technical skills involve specific expertise in a given area, while conceptual skills involve analytical thinking and the ability to understand the interconnectedness of parts within an organization as a whole. Managerial roles include planning, organizing, leading, and controlling.

Learning Organizations

• A learning organization actively acquires, creates, and transfers knowledge within itself, adapting to its environment.

Organizational Structures

• A sole proprietorship is owned by one person, a partnership by multiple individuals, and a corporation is a distinct legal entity separate from its owners.

Diversity and Inclusion

• Managing diversity involves valuing uniqueness and fostering a sense of belonging.

Corporate Governance and Social Responsibility

• Corporate governance encompasses the systems of oversight designed to protect the interests of stakeholders. Social responsibility obligates organizations to meet contemporary needs while balancing the interests of future generations.