MGMT 1101 Study Guide_ Midterm Quiz #1.pdf

MGMT 1101 Study Guide: Midterm Quiz #1 Class norms (class 1) **The quiz will have 20 questions (multiple choice, true/false). You will have 30 minutes to complete Double-loop learning (class 1) What is it? Why is it important? A learning technique where people evaluate their...

MGMT 1101 Study Guide: Midterm Quiz #1 Class norms (class 1) **The quiz will have 20 questions (multiple choice, true/false). You will have 30 minutes to complete Double-loop learning (class 1) What is it? Why is it important? A learning technique where people evaluate their assumptions along with their actions and results in a scenario Scientific Management (class 2) What is it? Why was it important? What are the benefits and drawbacks of scientific management? Benefits: efficiency improvements from Taylorism Drawbacks: Behaviorists felt that scientific management principles didn’t foster relationships ○ Diminished coordination + cooperation across boundaries ○ Didn’t pay attention to human needs + motivation Early Behaviorism “Hawthorne effect” & Elton Mayo: experiment designed to see how workplace lighting affected productivity ○ People will work harder if they are being watch & received attention from mngrs ○ Drew attention to the idea of “social” man Motivation theories (class 2)  MGMT 1101 Study Guide: Midterm Quiz #1 What is the difference between a content motivation theory and a process motivation theory? CONTENT PROCESS McGregor’s Theory X and Theory Y Expectancy theory What is a “theory X” approach? What is a “theory Y” How does expectancy theory work? (know the approach? different steps of the process) What are the pros and cons of each approach? Under Be able to apply expectancy theory to a motivation what conditions might each be useful scenario Hertzberg’s Motivator-Hygiene theory Goal setting theory What is a “motivating factor”? What is a “hygiene Why and how does goal setting work? factor?” How can this theory help managers motivate their employees?  MGMT 1101 Study Guide: Midterm Quiz #1 Misaligned incentives (“On the Folly of Rewarding A, Equity (justice) theory While Hoping for B”) What is equity (justice) theory? Understand how incentives drive behavior and how Be able to apply expectancy theory to a motivation (and why) incentives could be misaligned in scenario organizations Creativity and problem solving (class 3) Why does perspective matter for problem solving? Scientist, artist, judge - what are each of these modalities of thought, and what role do they play in our ability to think creatively and solve problems? The Scientist: scientific thinking: understanding how things work The Judge: issues of right and wrong / identify what is appropriate The Artist: imagination Modalities of thought: everyone uses all three and creativity comes from balance among the three roles Scientist + judge: skill Artist + judge: vision Scientist + artist: discovery  MGMT 1101 Study Guide: Midterm Quiz #1 Decision making (class 4) What is “system 1” and “system 2” thinking? What are the pros and cons of each way of thinking? ○ System 1: Automatic, requires little effort ○ System 2: effortful, requires concentration Framing effects – understand what this cognitive bias is and how to mitigate it Sunk cost fallacy – understand what this cognitive bias is and how to mitigate it  MGMT 1101 Study Guide: Midterm Quiz #1 Evidence based management (class 5) What is the difference between evidence and experience? What are the benefits and limitations/challenges of each? In what kinds of situations might you want to use them? Know the six steps of using evidence-based management - what they entail and why they matter Ask, acquire, appraise, aggregate, apply, assess  MGMT 1101 Study Guide: Midterm Quiz #1 Know the four sources of evidence and the benefits and limitations/challenges of each Scientific literature (empirical studies) ○ Peer-reviewed academic journals These vary greatly in quality, so you want to rely on ones with high standards (you can find published lists of top journals as well as “impact factor” ratings, but both of those metrics have their own flaws too... ☺) ○ Challenge: These sources are not very accessible to practitioners, and they are also not written for a practitioner- oriented audience. ○ Types: Quantitative, Quantitative, qualitative, mixed-methods / Experimental (Lab & field experiments) / Interviews/ Observations / Case studies/ Field research (e.g., ethnographies) / Reviews/ Meta analyses Practitioners (professional expertise) ○ Experience accumulated over time by professionals who are doing similar types of work in similar situations ○ “Tacit” knowledge (airmanship example) ○ Reflects specialized knowledge ○ Challenge: When practitioners overgeneralize from one experience to another without understanding how/why they are different Organization (internal data) ○ Data from organization itself Quantitative (e.g., accounting reports, sales data, customer reviews, profits, etc.) Qualitative (e.g., culture, climate, and employee engagement surveys) ○ This kind of data is important because it helps the organization identify, diagnose, and address problems they are facing ○ Challenge: Quality of data can vary greatly, esp. for things like surveys if they’ve been developed internally or by people who aren’t trained in how to write good survey question Stakeholders (values & concerns) ○ Values and concerns of individuals or groups affected by the organization’s decisions and their consequences ○ Internal stakeholders (Employees, managers, board members) ○ External stakeholders (Customers, government, public, even the families of employees) ○ Challenge: These groups also have their own sets of interests, and often those interests will be at odds with each other. So organizational leaders have to be clear about what information they want (or care about) and from whom.