Principle Based Management™ Quiz
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Questions and Answers

What is Principle Based Management™ (formerly Market-Based Management®)?

  • A collection of time-tested principles applied to daily efforts (correct)
  • A philosophy focusing on maximizing individual contributions
  • A hodgepodge of 'whatever works' management system
  • A system based on collecting best practices from successful businesses
  • How does Principle Based Management differ from some other management systems?

  • It focuses on maximizing profits for the organization
  • It begins with fundamental principles and then applies them to daily efforts (correct)
  • It relies on a hodgepodge of 'whatever works' approach
  • It collects best practices from successful businesses
  • What are the core questions at the heart of Principle Based Management philosophy?

  • Questions about employee satisfaction, work-life balance, and job security
  • Questions about maximizing profits, attracting investors, and achieving financial goals
  • Questions about market trends, competition, and product development
  • Questions about creating value, shared understanding, building culture, and knowledge (correct)
  • How is Principle Based Management organized?

    <p>Into five dimensions to help keep it organized</p> Signup and view all the answers

    What is the primary focus of Principle Based Management philosophy?

    <p>Enabling individuals and societies to thrive</p> Signup and view all the answers

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