Final Exam MGMT 1200 2024 Past Paper PDF

lOMoARcPSD|25794848 Final Exam MGMT 1200 2024-04-11 21 24 22 Principles of Management (University of Guelph) Scan to open on Studocu Studocu is not sponsored or endorsed by any college or university Downloaded by Trilo (triloshana@...

lOMoARcPSD|25794848 Final Exam MGMT 1200 2024-04-11 21 24 22 Principles of Management (University of Guelph) Scan to open on Studocu Studocu is not sponsored or endorsed by any college or university Downloaded by Trilo ([email protected])  lOMoARcPSD|25794848 Topics to study Study More Confident Organizations Competitive Strategy 1 Charter 4 99277,292 Swot Corporate Strategies 2 Motivational Incentives w Charter 9 3 Leadersha Model DARS Directive Achievement w Chapter 10 4 Change Making Process w Charter 7 5 Controls w Charter 12 6 Culture ORTASIA w Charter 2 1 Ethics Csr w charter 3 8 Decision MakingQrocess to Cmaster 3 BEhkaatinagskmeas.gs 9 HAMMIT Tool or Strategy Contingency to Page 273 10 Contemporary Motivational Concepts w Charter 9 Downloaded by Trilo ([email protected])  lOMoARcPSD|25794848 1 Organizations Competitive Strategy Organizations develop competitive strategy in order to obtain a competitive advantage What sets them alone distinctive edge Types of Competitive strategies Cost Leadership Strategy Competotes on basis of having the lowest costs Walmart Ikea 2 Differentiation strategy competes on basis of having Unique Products that are widely valued by customers Nordstrom Tesla Focus Strategy organization competes in a narrow segment or niche with either cost focus or differentiation focus Dollarstore Clunaben Also utilizing social media data about customers employee etc Competitive Strategies Porter's 5 Forces Threat Entrants factors like economies of Scale of New brand loyalty Capital requirements celect ability to enter Threat of Substitutes Switching costs buyer loyalty affect degree to which someone will buy a new product Bargaining Power of Buyers of buyers in market Downloaded by Trilo ([email protected]) of sub  lOMoARcPSD|25794848 concentration Bargaining Power of Suppliers Supplier Superiering SUGS Current Competitor Rivalry industry growth rate ft demand Prod diss Power of Complementors another industry 9 t demand ie Comet and electroni 2 Motivational Incentives Depends on the employees generation Downloaded by Trilo ([email protected])  lOMoARcPSD|25794848 2 motivated Singlemother by flexible hours w w Gen 2 motivated work life balance by flexibility w Gen Y opportunities teams w want to add to portable SMills to Work life balance can be improved through compressed Workweek flexible hours telework w 5min based Ray Variable Jay Contingent on performance W Benefits such as employment insurance 629 time of day savings retirement plans benefits packages Segment work life balance or integrated like on site orday According to Herzberg's 2 Factor Theory Motivators Achievement V5 Hygeine Factors wrecognition Increase job satisfaction and W Responsibility motivation WAdvancement w Intrinsic Satisfaction achievement W recognition Growth Extrinsic Dissatisfaction jobcenter CompmyRenin McClelland's 3 Needs Theory W Need for Power n Reww need to change others behav w Need for achievement nach drive to excel succeed no Need for affiliation Intel desire for close interpersonal Downloaded by Trilo ([email protected]) relationships  lOMoARcPSD|25794848 3 Leadershia Model Leader Someone who can influence people provide vision and strategy to the organisation Leadershie process of influencing individuals or groups toward the achievement of gods Downloaded by Trilo ([email protected])  lOMoARcPSD|25794848 Transactional Leaders guide their followers in the motivate direction of established gods by clarifying role task legs Transformational leaders leaders inspire people to transcend their own self interests for the good of the org and have a huge impact on their followers to more effective with turnover f productivity satisfact Ruth GoodTheory DAD's WDirective Leader tells expectations specific guidance wSupportive leader Shows Concern for needs Participative leader Consults with group uses suggestions w Achievement orientedleader sets challenging goals high expertat Behavioural Theories Autocratic dictating work methods Centralized decision matino limiting Portlogation Laissez faire giving group freedom for decisions I work 4 Change Making Process Organisational change needs a catalyst this a change agent which is someone who manages the change Process Downloaded by Trilo ([email protected])  lOMoARcPSD|25794848 duet culture e I Diagnose Inform 5S Evaluate Intervene Unfreezing the status quo moving from equilibrium state w changing to a new state to freezing the new change to make it Permanent to direct behaviour away from the status Driving forces a 8 Restraining forces that hinder movement from the existing equilibrium Do both in Conjunction Implement change through organizational development Os techniqu os Programs meant to change People the nature quality of interpersonal work relationships w Survey feedback co process Consultation outside consultants w Team Building 5 Controls Control Process involves measuring actual performance Downloaded by Trilo ([email protected])  lOMoARcPSD|25794848 Comparing actual Performance against standard taking manager in action to Correct deviations to Benchmarking sets the benchmark Feedforward prevents problems beforethey occur Concurrent takes place while an activity is in progress wie watering at analytics Feedback Control takes place after a worm activity is done worry viable option when its too late to correct an issue the damage is already done 6 Culture values norms beliefs held Organizational Culture Shared members that determines how employees act by org Downloaded by Trilo ([email protected])  lOMoARcPSD|25794848 ORTASIA w outcome wpeople 8EE siveness8I IIsrisnTaring toattentionto detail strong vs Weak Culture w strong culture when employees deeply held Share the values strong culture greater influence on employees w Higher org Performana if ethical culture Strong culture weak culture has a lack of clarity inherent the org w in 7 Ethics Csr Ethics rules principles that define right wrongbehaviour 4 Views of Ethics Downloaded by Trilo ([email protected])  lOMoARcPSD|25794848 Utilitarian view ethical decisions based on the basis of their outcomes Consequences 2 Rights View of Ethics respecting and protecting individual liberties and privileges enforce rules Theory of Justice Managers impose fairly and impartially following legal rules and regulations 4 Integrative Solin ContractsTheory decisions made based on existing ethical norms in industries Communities to determine right and wrong w Code of Ethics outlines expectations Values Corporate Social Responsibility business firm's intention beyond legal economic obligations to do the right things act in ways good for society Downloaded by Trilo ([email protected])  lOMoARcPSD|25794848 8 Decision MakingProcess Decision Making Process eight step process that involves identifying a problem Selecting an alternative and evaluating the decision's effectiveness Problem Discrepancy between actual us Planned Decision Criteria 0 What relevant in making the decision Alternatives Possible ways that can solve the problem 9 Planning Tool or Strategy 5 Types of planning Tools Teinniques forecasting attempting to predict the future develop Plans accordingly Contingency Planning identifying alternative plans for outcomes dieteent than expected Downloaded by Trilo ([email protected])  lOMoARcPSD|25794848 Scenario Planning Predicting various future outcomes mating plans for each Benchmarking developing plans based on practices of others Process Planning creating framework for the general process needed to reach ultimate goal i.e a marketing campaign 10 Contemporary Motivational Concepts Cow SettingTheory Specific goods increase performance difficult for when accepted result in higher Performance Require good feedback good commitment adequate self efficacy to belief in capability national culture aligns with the goal Downloaded by Trilo ([email protected])  lOMoARcPSD|25794848 Job Design the way tasks are combined to form complete jobs w Jos Characteristics Model Shill variety task identity task significance autonomy feedback W Job enrichment involves adding planning Eval responsin Four Drive Theory behaviour is influenced by our drive to acquire bend learn and defend Acquire Seek take control of and retain objects personal experiences Ray Downloaded by Trilo ([email protected])  lOMoARcPSD|25794848 Bond form Social relationships team building Learn Understand ourselves the we satisfy curiosity training autonomous jobs Defend Protect ourselves both Physically A Socially Core culture EquityTheory employee compares their input output ratio with that of relevant others and then responds to Corres any inequity w Referents they compare themselves Downloaded by Trilo ([email protected]) to other system self  lOMoARcPSD|25794848 other individuals with similar jobs system Ray Policies A Procedures self one's own input output us Past experience originally focused on distributive A procedural justice Distributive Justice perceived fairness of amount and allocation of rewards Procedural Justice perceived fairness of the process used to determine distribution of rewards Expectancy Theory individual tends to act in a way that correlates to the expected outcome and the attractivene of that outcome w Effort Performance Performing outcome Reward has value Downloaded by Trilo ([email protected]) WGeals s values of Person  lOMoARcPSD|25794848 4 Drive Theory Job Design Equity Theory Goal Setting Expectancy theory Downloaded by Trilo ([email protected])