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Questions and Answers
A manager who delegates tasks is free from the responsibility for the outcome of that task.
A manager who delegates tasks is free from the responsibility for the outcome of that task.
False (B)
A wide span of control in an organization suggests a large number of employees reporting to a single manager.
A wide span of control in an organization suggests a large number of employees reporting to a single manager.
True (A)
A tall organizational structure is associated with a more centralized decision-making process.
A tall organizational structure is associated with a more centralized decision-making process.
True (A)
The term 'bureaucracy' refers to the informal rules and procedures within an organization.
The term 'bureaucracy' refers to the informal rules and procedures within an organization.
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In a decentralized organization, senior management will typically have little to no say in key strategic decisions.
In a decentralized organization, senior management will typically have little to no say in key strategic decisions.
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A democratic leadership style is characterized by a leader who makes all decisions unilaterally and expects complete obedience.
A democratic leadership style is characterized by a leader who makes all decisions unilaterally and expects complete obedience.
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Laissez-faire leadership involves a leader who has a very hands-off style and provides minimal guidance to employees.
Laissez-faire leadership involves a leader who has a very hands-off style and provides minimal guidance to employees.
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A manager's primary role is to provide motivation and inspiration to their team.
A manager's primary role is to provide motivation and inspiration to their team.
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Frederick Herzberg's theory suggests that intrinsic motivators are more effective than traditional rewards.
Frederick Herzberg's theory suggests that intrinsic motivators are more effective than traditional rewards.
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According to John Adams' theory, factors that cause dissatisfaction, like poor working conditions, are considered motivators.
According to John Adams' theory, factors that cause dissatisfaction, like poor working conditions, are considered motivators.
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Daniel Pink's theory emphasizes the use of financial incentives as the primary motivator for employees.
Daniel Pink's theory emphasizes the use of financial incentives as the primary motivator for employees.
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The theory suggesting that employees compare their input-output ratio to others' to determine their motivation level is known as Equity Theory.
The theory suggesting that employees compare their input-output ratio to others' to determine their motivation level is known as Equity Theory.
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Maslow's Hierarchy of Needs suggests that individuals are motivated by satisfying basic needs, such as food and water, before pursuing higher needs like self-actualization.
Maslow's Hierarchy of Needs suggests that individuals are motivated by satisfying basic needs, such as food and water, before pursuing higher needs like self-actualization.
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In the jewelry production cost table, Total Fixed Cost (TFC) remains constant at $15,000 across all output levels.
In the jewelry production cost table, Total Fixed Cost (TFC) remains constant at $15,000 across all output levels.
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The jewelry production cost table demonstrates that Average Cost (AC) decreases as output increases.
The jewelry production cost table demonstrates that Average Cost (AC) decreases as output increases.
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Total Cost (TC) represents the sum of Total Fixed Cost (TFC) and Total Variable Cost (TVC).
Total Cost (TC) represents the sum of Total Fixed Cost (TFC) and Total Variable Cost (TVC).
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Extrinsic motivation is derived from internal factors, such as money.
Extrinsic motivation is derived from internal factors, such as money.
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Organizational culture consists of the attitudes, beliefs, and values of an organization.
Organizational culture consists of the attitudes, beliefs, and values of an organization.
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Power culture occurs when power is distributed evenly among all employees.
Power culture occurs when power is distributed evenly among all employees.
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In role culture, each employee has a vague understanding of their role within the organization.
In role culture, each employee has a vague understanding of their role within the organization.
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Task culture is characterized by teams addressing specific problems within an undefined time-frame.
Task culture is characterized by teams addressing specific problems within an undefined time-frame.
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Retained profit is considered a source of finance for businesses.
Retained profit is considered a source of finance for businesses.
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A no-strike agreement allows trade unions to undertake industrial action without any preconditions.
A no-strike agreement allows trade unions to undertake industrial action without any preconditions.
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Collective bargaining is a negotiation process held between employees and their employers.
Collective bargaining is a negotiation process held between employees and their employers.
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Debt factoring involves a business selling its debts at a discount to access funds immediately.
Debt factoring involves a business selling its debts at a discount to access funds immediately.
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An overtime ban involves employees working more than their contracted hours.
An overtime ban involves employees working more than their contracted hours.
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Variable costs do not change with the level of production.
Variable costs do not change with the level of production.
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The net profit after interest and tax is the final profit reported on the profit and loss account.
The net profit after interest and tax is the final profit reported on the profit and loss account.
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Leasing allows a business to use an asset without acquiring ownership of it.
Leasing allows a business to use an asset without acquiring ownership of it.
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The selling price of Model A phones is higher than that of Model B phones.
The selling price of Model A phones is higher than that of Model B phones.
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The total fixed costs incurred by the mobile phone company in January 2012 were $15,000.
The total fixed costs incurred by the mobile phone company in January 2012 were $15,000.
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The contribution per unit for Model B phones is higher than $100.
The contribution per unit for Model B phones is higher than $100.
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XYZ Company has fixed costs amounting to $22,000.
XYZ Company has fixed costs amounting to $22,000.
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The break-even point in sales dollars for XYZ Company is $38,000.
The break-even point in sales dollars for XYZ Company is $38,000.
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The total revenue for the mobile phone company in January 2012 from both models is $450,000.
The total revenue for the mobile phone company in January 2012 from both models is $450,000.
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Dividends are classified under the operating expenses in an income statement.
Dividends are classified under the operating expenses in an income statement.
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The total contribution for Model A phones is $160,000.
The total contribution for Model A phones is $160,000.
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The annual depreciation expense using the Straight-Line Method is $4,000.
The annual depreciation expense using the Straight-Line Method is $4,000.
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The net book value of the equipment after 5 years is $2,000.
The net book value of the equipment after 5 years is $2,000.
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The residual value of the equipment is $3,000.
The residual value of the equipment is $3,000.
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Using the Reducing-Balance Method, the correct depreciation rate is 20.3%.
Using the Reducing-Balance Method, the correct depreciation rate is 20.3%.
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Accumulated depreciation affects the net book value of an asset.
Accumulated depreciation affects the net book value of an asset.
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The equipment was purchased for $15,000.
The equipment was purchased for $15,000.
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After the first year, the net book value of the equipment is $16,400.
After the first year, the net book value of the equipment is $16,400.
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The cash account has a higher value than the accounts receivable account.
The cash account has a higher value than the accounts receivable account.
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Flashcards
Extrinsic Motivation
Extrinsic Motivation
Motivation driven by external factors such as money or rewards.
Organizational Culture
Organizational Culture
The attitudes, beliefs, and values that shape an organization's environment.
Power Culture
Power Culture
A culture where a few individuals hold most power and influence decisions.
Role Culture
Role Culture
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Task Culture
Task Culture
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Collective Bargaining
Collective Bargaining
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No-Strike Agreement
No-Strike Agreement
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Conciliation and Arbitration
Conciliation and Arbitration
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Capital Expenditure
Capital Expenditure
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Variable Costs
Variable Costs
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Break-even Quantity
Break-even Quantity
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Gross Profit
Gross Profit
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Intangible Assets
Intangible Assets
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Delegation
Delegation
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Span of Control
Span of Control
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Hierarchy Level
Hierarchy Level
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Chain of Command
Chain of Command
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Bureaucracy
Bureaucracy
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Centralization
Centralization
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Decentralization
Decentralization
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Leadership Styles
Leadership Styles
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Liquidity
Liquidity
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Straight-Line Method
Straight-Line Method
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Annual Depreciation Expense
Annual Depreciation Expense
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Residual Value
Residual Value
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Reducing-Balance Method
Reducing-Balance Method
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Net Book Value
Net Book Value
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Depreciation Rate
Depreciation Rate
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Accumulated Depreciation
Accumulated Depreciation
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Contribution Margin
Contribution Margin
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Total Contribution
Total Contribution
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Profit Calculation
Profit Calculation
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Break-even Point (Units)
Break-even Point (Units)
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Break-even Point (Sales Dollars)
Break-even Point (Sales Dollars)
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Margin of Safety
Margin of Safety
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Income Statement
Income Statement
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Balance Sheet
Balance Sheet
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Equity Theory
Equity Theory
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Herzberg's Two-Factor Theory
Herzberg's Two-Factor Theory
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Maslow’s Hierarchy of Needs
Maslow’s Hierarchy of Needs
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Total Fixed Cost (TFC)
Total Fixed Cost (TFC)
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Total Variable Cost (TVC)
Total Variable Cost (TVC)
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Total Cost (TC)
Total Cost (TC)
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Average Cost (AC)
Average Cost (AC)
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Study Notes
Human Resource Management
- Delegation involves a manager assigning authority for a decision to another, while maintaining responsibility for the outcome. (True)
- Span of control refers to the number of employees directly under a manager's authority. (True)
- A hierarchy level represents a degree of responsibility within an organization. (True)
- Chain of command describes the formal pathway for decisions within a business. (True)
- Bureaucracy involves the rules and procedures within an organization. (True)
- Centralization occurs when key decisions are made by a small group of senior managers. (True)
- Decentralization is when decisions are made by middle managers, with senior management overseeing strategic choices. (True)
- A flat organizational structure has fewer levels and a wider span of control. Leadership is often autocratic. (True)
- A tall structure has many levels and a narrower span of control. Leadership is often autocratic, with centralized decision-making. (True)
- Management functions include planning, organizing, commanding, coordinating, and controlling. (True)
- Managers plan and oversee groups, while leaders motivate and inspire. (True)
- Autocratic leaders hold significant power, making all decisions. (True)
- Paternalistic leaders have considerable decision-making power and prioritize employee well-being. (True)
- Laissez-faire leadership offers employees autonomy and responsibility in decision-making and problem-solving. (True)
- Democratic leadership involves employees in decision-making and communicates relevant information. (True)
- Intrinsic motivation stems from satisfaction derived from the activity itself. (True)
- Extrinsic motivation arises from external factors, such as rewards or compensation. (True)
- Organizational culture encompasses the values, beliefs, and attitudes of the organization. (True)
- Power culture centralizes power in a small group. (True)
- Role culture defines clear roles for employees. (True)
- Task culture focuses on teams working towards specific goals within defined timeframes. (True)
- Person culture prioritizes individual autonomy over organizational needs. (True)
- Representatives of employees and employers can negotiate terms and conditions through collective bargaining. (True)
- Slowdowns occur when workers intentionally reduce efficiency. (True)
- An overtime ban is a refusal to work beyond contracted hours. (True)
- Employers may lockout workers by temporarily closing the business. (True)
Motivation Theories
- Frederick Winslow Taylor: A scientific approach to work, where financial incentives are the primary motivator.
- Abraham Maslow: A hierarchy of needs, where individuals are motivated by fulfilling physiological, safety, social, esteem, and self-actualization needs in a specific order.
- Frederick Herzberg: Motivators and hygiene factors affecting job satisfaction.
- John Adams: Equity theory, fairness in treatment motivating performance.
- Daniel Pink: Intrinsic motivators driving modern work such as autonomy, purpose, and mastery
Maslow's Hierarchy of Needs
- Physiological: Basic needs like food, water, shelter, etc.
- Safety: Security, stability, protection from harm.
- Belongingness and Love: Connection with others, social interaction.
- Esteem: Recognition, achievement, respect from others.
- Self-actualization: Self-fulfillment, maximizing potential.
Finance & Accounts
- Cost of Goods Sold (COGS): Calculated by opening stock, purchases and closing stock
- Gross Profit: Revenue less COGS, an important financial indicator.
- Net Profit: Gross profit less other expenses like tax, interests and dividends, the "bottom line" often reported on an income statement.
- Fixed Costs: Business expenses that remain constant regardless of output.
- Variable costs: Change with fluctuations in production.
- Break-even analysis: Identifying the point where revenue equals total costs, crucial for businesses.
- Margin of Safety: The difference between actual output and the break-even point.
- Depreciation: The allocation of an asset's cost over its useful life.
- Straight-line depreciation: The equal allocation of an asset's cost over its life.
- Reducing-balance depreciation: The higher depreciation expense at the beginning of an asset's life.
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Description
Test your knowledge on various management theories and organizational structures. This quiz covers key concepts such as delegation, span of control, bureaucracy, and leadership styles. Understand how these elements impact decision-making and employee motivation.
