ITM100 CHAPTER 12 QUIZ

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Questions and Answers

According to the classical model of management, what are the five classical functions of managers?

Analyzing, delegating, supervising, innovating, and evaluating

Planning, organizing, coordinating, deciding, and controlling (correct)

Forecasting, negotiating, strategizing, implementing, and monitoring

Directing, budgeting, leading, training, and evaluating

What do contemporary behavioral models argue about managerial behavior?

It is highly structured, formal, reflective, proactive, and well organized

It is impulsive, uncontrolled, non-reflective, reactive, and disorganized

It is rigid, unchanging, non-adaptive, non-reactive, and highly reflective

It is less systematic, more informal, less reflective, more reactive, and less well organized (correct)

What is one key difference between the classical model and contemporary behavioral models of managerial behavior?

Approach to employee training

Emphasis on decision-making

Number of managerial functions identified

Level of formality and organization (correct)

What was the classical model of management largely unquestioned for after the 1920s?

More than 70 years Signup and view all the answers

What percentage of managerial activities last less than nine minutes?

10% Signup and view all the answers

Which category do Henry Mintzberg's managerial roles fall into?

Interpersonal, informational, and decisional Signup and view all the answers

What type of information do managers prioritize?

Current, specific, and ad hoc Signup and view all the answers

In what areas can predictive analytics be applied?

Sales, marketing, and finance Signup and view all the answers

What does business intelligence analytics offer in terms of capabilities?

Visual tools for performance data, ad hoc query creation, and drill down for detailed views Signup and view all the answers

What is the accuracy rate of FedEx's predictive analytics in predicting customer responses, revenue generation, and customer attrition?

65-90% Signup and view all the answers

What is the primary focus of managers in their communication preferences?

Flexibility and quick responses Signup and view all the answers

What is the key purpose of building and maintaining a diverse network of contacts for managers?

To execute personal and organizational goals Signup and view all the answers

What is the main focus of big data analytics in e-commerce?

Personalized recommendations and decision support Signup and view all the answers

What do informational roles position managers as?

Information disseminators and spokespersons Signup and view all the answers

What do managers prioritize in terms of communication flexibility?

Oral over written communication Signup and view all the answers

What is the focus of decisional roles according to Henry Mintzberg's classification?

Making choices that affect the organization Signup and view all the answers

What is the purpose of executive support systems (ESS)?

To help C-level executive managers focus on important performance information Signup and view all the answers

What are the four dimensions of firm performance in the balanced scorecard framework?

Financial, business process, customer, and learning and growth Signup and view all the answers

What are key performance indicators (KPIs) used for in the balanced scorecard framework?

Measuring performance on each dimension of firm performance Signup and view all the answers

What is the purpose of regression analysis for Progressive Insurance?

To identify factors closely correlated with insurance losses for specific customer groups Signup and view all the answers

What is the focus of decision support systems for senior management?

Important performance information affecting the overall profitability and success of the firm Signup and view all the answers

What does the balanced scorecard framework aim to operationalize?

A firm’s strategic plan Signup and view all the answers

What is the purpose of BI analytics in large enterprise systems?

To analyze data from large corporate databases Signup and view all the answers

What is a key aspect of the balanced scorecard framework?

Focusing on more than just financial performance Signup and view all the answers

What is the primary focus of ESS?

Delivering important performance information to C-level executive managers Signup and view all the answers

What is the role of simulation software for Progressive Insurance?

To test whether pricing arrangements will enable the company to make a profit Signup and view all the answers

What is the purpose of defining small groups of customers, or “cells,” for Progressive Insurance?

To identify the best customers for its products Signup and view all the answers

Why is the balanced scorecard framework considered 'balanced'?

It causes managers to focus on more than just financial performance Signup and view all the answers

What are the five classical functions of managers according to the classical model?

Planning, organizing, coordinating, deciding, and controlling Signup and view all the answers

What is the primary difference between the classical model and contemporary behavioral models of managerial behavior?

Systematic vs. informal and reactive behavior Signup and view all the answers

What did Henri Fayol and other early writers first describe as the classical functions of managers?

Planning, organizing, coordinating, deciding, and controlling Signup and view all the answers

What is the focus of contemporary behavioral models in understanding managerial functions and roles?

Studying managers in daily action Signup and view all the answers

What does the classical model of management largely describe?

Formal managerial functions Signup and view all the answers

What do contemporary behavioral scientists argue about the behavior of managers as compared to the classical model?

Less systematic and more informal Signup and view all the answers

What is the primary focus of the classical model of management?

Describing formal managerial functions Signup and view all the answers

What is the primary emphasis of contemporary behavioral models in understanding managerial behavior?

Daily action of managers Signup and view all the answers

What did the classical model of management dominate for a long time?

Management thought Signup and view all the answers

What do contemporary behavioral models argue about the behavior of managers compared to the classical model?

Less systematic and more informal Signup and view all the answers

What is one key indicator of customer performance for an online retail firm in the balanced scorecard framework?

Average length of time required to deliver a package to a consumer Signup and view all the answers

What is the primary focus of executive support systems (ESS)?

To help C-level executive managers focus on important performance information Signup and view all the answers

What is the purpose of using simulation software for Progressive Insurance?

To test pricing arrangements for profitability Signup and view all the answers

What is the framework for operationalizing a firm’s strategic plan by focusing on measurable outcomes on four dimensions of firm performance?

Balanced scorecard Signup and view all the answers

What is the primary focus of predictive analytics?

Modeling future events and behaviors using historical data Signup and view all the answers

What is the focus of business intelligence (BI) analytics in large enterprise systems?

Analyzing data from large corporate databases Signup and view all the answers

What is the main purpose of building and maintaining a diverse network of contacts for managers?

To execute personal and organizational goals Signup and view all the answers

What is a key purpose of regression analysis for Progressive Insurance?

To identify factors closely correlated with insurance losses for specific customer groups Signup and view all the answers

What is the key aspect of big data analytics in e-commerce?

Integration of data from social media and customer transactions Signup and view all the answers

What do the balanced scorecard key performance indicators (KPIs) measure for a firm?

Performance on four dimensions: financial, business process, customer, and learning and growth Signup and view all the answers

What is the primary focus of managers in their communication preferences?

Prioritizing oral over written communication for flexibility and quick responses Signup and view all the answers

What is the role of decision support systems (DSS) for senior management?

To help senior managers focus on important performance information Signup and view all the answers

What do business intelligence analytics offer in terms of capabilities?

Visual tools for performance data, ad hoc query creation, and drill down for detailed views Signup and view all the answers

What is the main focus of intensive modeling tools in business intelligence (BI) analytics?

Analyzing data from large corporate databases Signup and view all the answers

What is the focus of decisional roles according to Henry Mintzberg's classification?

Making choices that affect the organization's strategy and objectives Signup and view all the answers

What is the purpose of defining small groups of customers, or “cells,” for Progressive Insurance?

To identify the best customers for its products Signup and view all the answers

What is the purpose of BI analytics in large enterprise systems?

To provide insights for strategic decision-making Signup and view all the answers

What are the three categories into which Henry Mintzberg classified managerial behavior?

Interpersonal, informational, and decisional Signup and view all the answers

What do managers prioritize in terms of communication flexibility?

Current, specific, and ad hoc information Signup and view all the answers

What is the accuracy rate of FedEx's predictive analytics in predicting customer responses, revenue generation, and customer attrition?

65-90% Signup and view all the answers

Study Notes

Managerial Roles and Business Intelligence

Managers engage in over 600 activities daily, without respite, and struggle to fulfill their extensive responsibilities.
Managerial activities are short-lived, with most lasting less than nine minutes and only 10% exceeding an hour.
Managers prioritize current, specific, and ad hoc information, favoring oral over written communication for flexibility and quick responses.
Building and maintaining a diverse network of contacts is crucial for managers to execute their personal and organizational goals.
Henry Mintzberg classified managerial behavior into 10 roles, falling into three categories: interpersonal, informational, and decisional.
Interpersonal roles involve managers as figureheads, leaders, and liaisons within the organization.
Informational roles position managers as information disseminators and spokespersons, centralizing and redistributing vital information.
Business intelligence analytics offer capabilities such as visual tools for performance data, ad hoc query creation, and drill down for detailed views.
Predictive analytics use statistical analysis and historical data to model future events and behaviors, with applications in sales, marketing, and finance.
FedEx employs predictive analytics to predict customer responses, revenue generation, and customer attrition with an accuracy rate of 65-90%.
Predictive analytics are also utilized in credit scoring, healthcare, and direct marketing campaigns to identify potential high-cost patients and promising customers.
Big data analytics, incorporating data from social media and customer transactions, are increasingly integrated into predictive analytics for personalized recommendations and decision support in e-commerce.

Managerial Roles and Business Intelligence

Managers engage in over 600 activities daily, without respite, and struggle to fulfill their extensive responsibilities.
Managerial activities are short-lived, with most lasting less than nine minutes and only 10% exceeding an hour.
Managers prioritize current, specific, and ad hoc information, favoring oral over written communication for flexibility and quick responses.
Building and maintaining a diverse network of contacts is crucial for managers to execute their personal and organizational goals.
Henry Mintzberg classified managerial behavior into 10 roles, falling into three categories: interpersonal, informational, and decisional.
Interpersonal roles involve managers as figureheads, leaders, and liaisons within the organization.
Informational roles position managers as information disseminators and spokespersons, centralizing and redistributing vital information.
Business intelligence analytics offer capabilities such as visual tools for performance data, ad hoc query creation, and drill down for detailed views.
Predictive analytics use statistical analysis and historical data to model future events and behaviors, with applications in sales, marketing, and finance.
FedEx employs predictive analytics to predict customer responses, revenue generation, and customer attrition with an accuracy rate of 65-90%.
Predictive analytics are also utilized in credit scoring, healthcare, and direct marketing campaigns to identify potential high-cost patients and promising customers.
Big data analytics, incorporating data from social media and customer transactions, are increasingly integrated into predictive analytics for personalized recommendations and decision support in e-commerce.

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Description

Explore the daily activities and extensive responsibilities of managers, as well as the classifications of managerial behavior by Henry Mintzberg. Discover the crucial role of business intelligence analytics, including predictive analytics and big data analytics, in decision-making processes and strategic planning.

ITM100 CHAPTER 12 QUIZ

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Podcast

Questions and Answers

According to the classical model of management, what are the five classical functions of managers?

What do contemporary behavioral models argue about managerial behavior?

What is one key difference between the classical model and contemporary behavioral models of managerial behavior?

What was the classical model of management largely unquestioned for after the 1920s?

What percentage of managerial activities last less than nine minutes?

Which category do Henry Mintzberg's managerial roles fall into?

What type of information do managers prioritize?

In what areas can predictive analytics be applied?

What does business intelligence analytics offer in terms of capabilities?

What is the accuracy rate of FedEx's predictive analytics in predicting customer responses, revenue generation, and customer attrition?

What is the primary focus of managers in their communication preferences?

What is the key purpose of building and maintaining a diverse network of contacts for managers?

What is the main focus of big data analytics in e-commerce?

What do informational roles position managers as?

What do managers prioritize in terms of communication flexibility?

What is the focus of decisional roles according to Henry Mintzberg's classification?

What is the purpose of executive support systems (ESS)?

What are the four dimensions of firm performance in the balanced scorecard framework?

What are key performance indicators (KPIs) used for in the balanced scorecard framework?

What is the purpose of regression analysis for Progressive Insurance?

What is the focus of decision support systems for senior management?

What does the balanced scorecard framework aim to operationalize?

What is the purpose of BI analytics in large enterprise systems?

What is a key aspect of the balanced scorecard framework?

What is the primary focus of ESS?

What is the role of simulation software for Progressive Insurance?

What is the purpose of defining small groups of customers, or “cells,” for Progressive Insurance?

Why is the balanced scorecard framework considered 'balanced'?

What are the five classical functions of managers according to the classical model?

What is the primary difference between the classical model and contemporary behavioral models of managerial behavior?

What did Henri Fayol and other early writers first describe as the classical functions of managers?

What is the focus of contemporary behavioral models in understanding managerial functions and roles?

What does the classical model of management largely describe?

What do contemporary behavioral scientists argue about the behavior of managers as compared to the classical model?

What is the primary focus of the classical model of management?

What is the primary emphasis of contemporary behavioral models in understanding managerial behavior?

What did the classical model of management dominate for a long time?

What do contemporary behavioral models argue about the behavior of managers compared to the classical model?

What is one key indicator of customer performance for an online retail firm in the balanced scorecard framework?

What is the primary focus of executive support systems (ESS)?

What is the purpose of using simulation software for Progressive Insurance?

What is the framework for operationalizing a firm’s strategic plan by focusing on measurable outcomes on four dimensions of firm performance?

What is the primary focus of predictive analytics?

What is the focus of business intelligence (BI) analytics in large enterprise systems?

What is the main purpose of building and maintaining a diverse network of contacts for managers?

What is a key purpose of regression analysis for Progressive Insurance?

What is the key aspect of big data analytics in e-commerce?

What do the balanced scorecard key performance indicators (KPIs) measure for a firm?

What is the primary focus of managers in their communication preferences?

What is the role of decision support systems (DSS) for senior management?

What do business intelligence analytics offer in terms of capabilities?

What is the main focus of intensive modeling tools in business intelligence (BI) analytics?

What is the focus of decisional roles according to Henry Mintzberg's classification?

What is the purpose of defining small groups of customers, or “cells,” for Progressive Insurance?

What is the purpose of BI analytics in large enterprise systems?

What are the three categories into which Henry Mintzberg classified managerial behavior?

What do managers prioritize in terms of communication flexibility?

What is the accuracy rate of FedEx's predictive analytics in predicting customer responses, revenue generation, and customer attrition?

Study Notes

Studying That Suits You

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