Podcast
Questions and Answers
What strategy did Bob Nardelli implement at Home Depot that was widely seen as a mistake?
What strategy did Bob Nardelli implement at Home Depot that was widely seen as a mistake?
- Imposing a laid-back culture
- Replacing full-time workers with part-timers (correct)
- Focusing on retail customers
- Sending nasty emails to store managers
Who is considered as one of the pioneers of modern management theory in the US?
Who is considered as one of the pioneers of modern management theory in the US?
- Bob Nardelli
- Ron Johnson
- Steve Jobs
- Henry Ford (correct)
Who was hired by JC Penney to give the retailer a fresh new image and boost sales?
Who was hired by JC Penney to give the retailer a fresh new image and boost sales?
- Ron Johnson (correct)
- Bob Nardelli
- Steve Jobs
- Henry Ford
What was Ron Johnson's strategy for JC Penney?
What was Ron Johnson's strategy for JC Penney?
What are the two causes of change mentioned in the text?
What are the two causes of change mentioned in the text?
What is considered as the most persistent, pervasive, and powerful challenge for managers?
What is considered as the most persistent, pervasive, and powerful challenge for managers?
What did the introduction of new technology lead to, according to the text?
What did the introduction of new technology lead to, according to the text?
What is the study of morality and standards of business conduct called?
What is the study of morality and standards of business conduct called?
Which branch of philosophy focuses on moral issues such as what is good and bad, right and wrong?
Which branch of philosophy focuses on moral issues such as what is good and bad, right and wrong?
What is the difference between an ethical dilemma and an ethical lapse?
What is the difference between an ethical dilemma and an ethical lapse?
What did Nike do in response to the sweatshop labor controversy?
What did Nike do in response to the sweatshop labor controversy?
What are the three basic approaches to ethical decision-making?
What are the three basic approaches to ethical decision-making?
What are the six components of Moral Intensity?
What are the six components of Moral Intensity?
What is the difference between the Efficiency Perspective and the Social Responsibility perspective?
What is the difference between the Efficiency Perspective and the Social Responsibility perspective?
According to Peter Drucker, what are the 5 basic tasks of a manager?
According to Peter Drucker, what are the 5 basic tasks of a manager?
What is the role of an entrepreneur according to Joseph Schumpeter?
What is the role of an entrepreneur according to Joseph Schumpeter?
What is the concept of 'creative destruction' according to Joseph Schumpeter?
What is the concept of 'creative destruction' according to Joseph Schumpeter?
What are the various roles that managers play according to Mintzberg?
What are the various roles that managers play according to Mintzberg?
What is the definition of ethics?
What is the definition of ethics?
What is the definition of scientific management according to F.W. Taylor?
What is the definition of scientific management according to F.W. Taylor?
What is the definition of an entrepreneurial mindset?
What is the definition of an entrepreneurial mindset?
Which of the following best describes globalization?
Which of the following best describes globalization?
What are the BRICs?
What are the BRICs?
What is the main difference between developed, emerging, and developing economies?
What is the main difference between developed, emerging, and developing economies?
What is the definition of culture?
What is the definition of culture?
What are the two types of norms?
What are the two types of norms?
What does Hofstede's cultural dimension of power distance measure?
What does Hofstede's cultural dimension of power distance measure?
What is the main difference between high context and low context cultures?
What is the main difference between high context and low context cultures?
What is the main focus of individualistic societies?
What is the main focus of individualistic societies?
What is the main focus of collectivist societies?
What is the main focus of collectivist societies?
Flashcards
Bob Nardelli's strategy at Home Depot
Bob Nardelli's strategy at Home Depot
Replacing full-time workers with part-timers, a strategy widely considered unsuccessful at Home Depot.
Henry Ford
Henry Ford
A prominent figure in modern management theory, known for his contributions to mass production and assembly line techniques.
Ron Johnson
Ron Johnson
JC Penney's former CEO hired to revitalize the retailer's image and boost sales.
Ron Johnson's strategy for JC Penney
Ron Johnson's strategy for JC Penney
Ron Johnson's strategy for JC Penney, eliminating sales, promotions, and coupons to offer consistent pricing.
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Causes of change
Causes of change
The forces driving change in organizations, encompassing technological advancements and global interconnectedness.
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Managing change
Managing change
A central challenge for leaders, requiring effective strategies to adapt to evolving environments.
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Impact of technology
Impact of technology
The development of new products and/or processes enabled by technological innovation.
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Managerial ethics
Managerial ethics
The study of moral principles and values that determine right and wrong behavior in business.
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Ethics
Ethics
A branch of philosophy exploring moral issues, focusing on concepts of good and bad, right and wrong.
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Ethical dilemma
Ethical dilemma
A situation with competing moral options, requiring careful consideration and decision-making.
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Ethical lapse
Ethical lapse
A decision that contradicts stated ethical beliefs or values, often resulting in negative consequences.
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Nike's response to sweatshop controversy
Nike's response to sweatshop controversy
Nike's response to accusations of unethical labor practices involving sweatshops, encompassing initiatives like improved factory conditions and worker benefits.
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Approaches to ethical decision-making
Approaches to ethical decision-making
Different approaches to ethical decision-making based on maximizing collective well-being, respecting individual rights, and ensuring fairness.
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Components of Moral Intensity
Components of Moral Intensity
Factors that influence the moral intensity of a situation, including the severity of potential consequences and social agreement on the wrongfulness of an action.
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Efficiency Perspective
Efficiency Perspective
A management perspective focused on maximizing profits and shareholder value, emphasizing efficiency and cost-effectiveness.
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Social Responsibility Perspective
Social Responsibility Perspective
A management perspective that emphasizes corporate social responsibility, recognizing a company's obligations to society and the environment.
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Peter Drucker's 5 management tasks
Peter Drucker's 5 management tasks
Peter Drucker's five core managerial tasks, encompassing goal setting, organizational structure, motivating teams, performance measurement, and employee development.
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Role of an entrepreneur
Role of an entrepreneur
Joseph Schumpeter's concept of entrepreneurs as individuals who create new businesses, taking risks to achieve growth and profit.
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Creative Destruction
Creative Destruction
Joseph Schumpeter's concept of innovation leading to new products, industries, and sometimes the displacement of existing leaders.
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Mintzberg's managerial roles
Mintzberg's managerial roles
Henry Mintzberg's classification of managerial roles into interpersonal, informational, and decisional categories.
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Ethics
Ethics
The study of moral principles and values that determine right and wrong behavior.
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Scientific Management
Scientific Management
F.W. Taylor's approach to management emphasizing scientific analysis of tasks, standardization of work processes, and efficiency gains.
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Entrepreneurial mindset
Entrepreneurial mindset
The willingness to learn new skills and knowledge, adapting to changing circumstances and pursuing opportunities.
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Globalization
Globalization
The process of increased interconnectedness of markets, nations, and technologies through global flows of trade, investment, and capital.
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BRICs
BRICs
A group of emerging economies: Brazil, Russia, India, and China, characterized by large populations and economic growth.
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Developed, emerging, and developing economies
Developed, emerging, and developing economies
Classifications of economies based on their level of development, capital markets, and economic growth.
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Culture
Culture
A learned set of assumptions, values, beliefs, and behavioral norms shared by a group of people, influencing their behavior and interactions.
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Folkways and mores
Folkways and mores
Types of social norms, with folkways being informal customs and mores being strong moral rules.
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Power Distance
Power Distance
A cultural dimension measuring the level of acceptance of power and authority differences within a society.
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High Context Culture
High Context Culture
A way of communicating where meaning is largely derived from implicit understanding and shared social context.
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Low Context Culture
Low Context Culture
A way of communicating where meaning is explicitly stated through words and clear language.
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Individualistic Societies
Individualistic Societies
Societies emphasizing individual goals, self-reliance, and personal achievements.
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Collectivist Societies
Collectivist Societies
Societies emphasizing group goals, collective responsibility, and strong social bonds.
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