MGT 301 Exam 1

What are the two branches of the classic viewpoint?

-Scientific -Administrative

Max Weber felt that a better performing organization should have which 5 bureaucratic features?

1. A well defined hierarchy of authority 2. Formal rules and procedures 3. A clear division of labor 4. Impersonality 5. Careers based on merit

WHY might a company expand internationally?

1. Availability of supplies 2. New markets 3. Lower labor costs 4. Access to finance capital 5. Avoidance of tariffs and import quotas

What are the 6 ways to develop career readiness?

1. Build self awareness 2. Learn from educational activities 3. Model others possessing the targeted competencies 4. Learn from on the job activities 5. Seek experience from student groups and organizations 6. Experiment

5 ways organizations can promote ethics:

1. Create strong ethical climate 2. Screening Prospective employees 3. Instituting ethics codes and training programs 4. Rewarding ethical behavior 5. Using a Multi-Faceted Approach

What are the 4 principles of scientific management, introduced by Frederick Taylor?

1. Evaluate a task by scientifically studying each part of it 2. Carefully select workers with the right abilities for the task 3. Give workers the training and incentives to do the task with the proper work methods 4. Use scientific principles to plan the work methods and ease the way for workers to do their jobs

How do companies expand internationally?

1. Global Outsourcing (offshoring) 2. Importing, exporting, countertrading 3. Licensing and franchising 4. Joint ventures 5. Wholly owned subsidiaries

List the 6 basic culture areas

1. Language 2. Interpersonal space 3. Communication 4. Time orientation 5. Religion 6. Law and Political Stability

What are the 7 Challenged faced by most managers?

1. Managing for Competitive Advantage 2. Managing for Technological Advances 3. Managing for Inclusion and Diversity 4. Managing for Globalization 5. Managing for Ethical Standards 6. Managing for Sustainable Development 7. Managing for Happiness and Meaningfulness

what are the 3 barriers to trade?

1. Tariffs 2. Import Quotas 3. Sanctions + Embargoes

What were the 4 ideas Peter Drucker introduced?

1. Workers should be treated as assets 2. The corporation should be considered a human community 3. There is no business without a customer 4. Institutionalized management practices are preferable to charismatic cult leaders

What 3 principal organizations were designed to facilitate international trade?

1. World Trade Organization 2. World Bank 3. International Monetary Fund

Which of the following are among the most-imported goods in the United States? (Choose every correct answer.) Auto parts Cell phones TVs Pharmaceuticals

Cell phones TVs Pharmaceuticals

Who proposed the 8 necessities of management?

Charles Clinton Spaulding

The system of governing a company so that the interests of corporate owners and other stakeholders are protected

Corporate Governance

What is included in Archie B, Carroll's corporate social responsibility pyramid? (bottom to top)

Economic Responsibility (be profitable) Legal Responsibility (Obey the law) Ethical Responsibility (Be ethical) Philanthropic Responsibility (be a good global corporate citizen)

What two things are credited with creating the "global village?" (Choose every correct answer.) Electronic media Convenient air travel Corporate sustainability Assembly line production

Electronic media Convenient air travel

Who led the "Hawthorne Studies?"

Elton Mayo

Internal stakeholders include

Employees Owners Board of Directors

What did the Hawthorne studies find?

Employees work harder when they receive more attention

What types of are roles included in decisional management roles?

Entrepreneur, Disturbance Handler, Resource Allocator, and negotiator

Which are actions to take to increase a focus on the greater good? (Choose every correct answer.) Expand knowledge of social inequality. Fulfill promises. Reduce carbon footprint. Seek out those who break the rules.

Expand knowledge of social inequality. Fulfill promises. Reduce carbon footprint.

What types of are roles included in interpersonal management roles?

Figurehead, Leader, Liaison

Who believed that integration was the solution to solving problems?

Follett

What are maquiladoras? Mexican distribution facilities that charge lower tax rates to foreign companies Foreign-owned manufacturing plants that operate in Mexico in exchange for employing Mexican citizens Business people who operate covertly and illegally—paying poverty-level wages to employees in Mexico Mexican shipping ports that will accept foreign imports and then drive the goods over the border

Foreign-owned manufacturing plants that operate in Mexico in exchange for employing Mexican citizens

"father of scientific management"

Frederick Taylor

Operations management does which of the following? (Choose every correct answer.) Governs managers' decisions about how to increase productivity and efficiency Fails to account for inventory management considerations Assists managers with decisions regarding how to achieve the highest quality goods and services Plays an important role in managing the supply chain

Governs managers' decisions about how to increase productivity and efficiency Assists managers with decisions regarding how to achieve the highest quality goods and services Plays an important role in managing the supply chain

A foreign subsidiary that the owning organization has built from scratch

Greenfield venture

Select all that apply Identify the principal organizations designed to facilitate international trade. (Choose all correct answers.) NATO International Monetary Fund World Bank World Trade Organization United Nations

International Monetary Fund World Bank World Trade Organization

Henry Mintzberg was the first person to empirically research the day-to-day activities undertaken by a CEO. What 3 Managerial Roles did he Identify?

Interpersonal, Informational. and Decisional

What are the benefits of understanding context? (Choose every correct answer.) It is directly related to increased task performance and organizational citizenship behavior. It enables you to more effectively communicate with and influence others. It enhances your ability to fit comfortably into a particular context. It gives you insights that let you correctly interpret the "what" and "why" of someone's behavior.

It enables you to more effectively communicate with and influence others. It enhances your ability to fit comfortably into a particular context. It gives you insights that let you correctly interpret the "what" and "why" of someone's behavior.

country with the largest economy in the world

USA

What are actions your book suggests that individuals can take to become more ethical consumers? (Choose every correct answer.) boycott non-organic produce buy the lowest-priced items on the shelves don't buy knockoff items don't purchase items that aren't ethically made or sourced purchase fair trade items provide your own bags at the grocery store

don't buy knockoff items don't purchase items that aren't ethically made or sourced purchase fair trade items provide your own bags at the grocery store

Which are aspects of the professionalism/work ethic core competency that are most relevant to ethics? (Choose every correct answer.) Concern for society Computational thinking Demonstrated integrity Ethical behavior

concern for society computational thinking demonstrated integrity ethical behavior

A manager's approach should vary according to the individuals and situation

contingency viewpoint

Running a company and protecting the interests of owners and other stakeholders is known as _____. corporate social responsibility natural capital corporate governance philanthropy

corporate governance

The shared set of beliefs, values, knowledge, and patterns of behavior common to a group of people

culture

A person from Germany is from a(n) ______ culture, because shared meanings are primarily derived from written and spoken words. low power distance high-context high power distance low-context

low-context

According to free-market economist Friedman, what is the only social responsibility of a business? Being a good global citizen Environmental sustainability Making profits Corporate philanthropy

making profits

The classical viewpoint of management emphasizes ways to ______. manage work more efficiently achieve economies of scale foster first-mover advantage enhance employee relations

manage work more efficiently

Peter Drucker is credited with providing the first modern handbook on the subject of ______. management finance sales production

management

A preference for doing one thing at a time is characteristic of ______ time. low-context monochronic power distance polychronic

monochronic

If Norway decided to reduce import duties for Germany, which allowed Germany to export more cars to Norway at a lower cost, it would create a stronger tie between these two countries. In this situation, Norway is granting Germany _____ trading status. import quota countertrade partner most favored nation common courtesy

most favored nation

Wal-Mart is an example of a(n) ______ because it is a business with operations in multiple countries. multinational corporation multinational organization international partner dual partnership

multinational corporation

What are the branches of quantitative management? Administrative management Behavioral science Operations management Evidence-based management

operations-based management evidence-based management

Using suppliers outside of the company to provide materials to make goods and services is called _____. outsourcing benchmarking subsidizing telecommuting

outsourcing

Another way to describe ethnocentrism is as a narrow view in which people see things solely through their own perspective. This is called _____. individualism geocentrism collectivism parochialism

parochialism

A company's triple bottom line represents which aspects? (Choose every correct answer.) production politics people profit privacy planet

people planet profit

The act of contributing money in order to benefit society is referred to as _______. donation in kind human capital philanthropy globalization

philanthropy

Approximately two-thirds of India's GDP is made up of ___. manufacturing services mining agriculture

services

A manager's responsibility to take actions that benefit both society and the business is known as _____ responsibility. social value demographic corporate

social responsibility

The ten groups that present a company with its daily tasks to handle represent the company's _____ environment. internal managerial task behavioral

task environment

What countries are included in BRICS?

Brazil, Russia, India, China, South Africa

Which employee is the best example of a functional manager? Mallory, who became the CEO after working for the company for 12 years. Miguel, who is responsible for the company's warehouse, production, and product source lines. Rachel, who is a supervisor and is responsible for the activities of three employees at the company. Brett, who is the manager of the company's accounting department.

Brett, who is the manager of the company's accounting department.

Which of the following statements about a nation's culture are correct? (Choose every correct answer.) It unconsciously teaches us how to walk, talk, behave, and relate to other people. It is fairly simple to adapt to as an outsider. It operates in large part outside of individual awareness. It is made up of many nuances.

It unconsciously teaches us how to walk, talk, behave, and relate to other people. It operates in large part outside of individual awareness. It is made up of many nuances.

Who proposed the hierarchy of needs?

Abraham Maslow

The human relations movement was led by

Abraham Maslow and Douglas McGregor

When dealing with someone from a different culture whose behavior seems odd or insulting, what is the best way to communicate? Communicate to the person that you feel insulted. Ask questions of someone familiar with the context. Assume the person's intentions are good. Remove yourself from the situation entirely.

Ask questions of someone familiar with the context.

Government regulations to limit the import of goods and services

Trade protectionism

What did Henry Fayol systematize?

Management behavior; Separated into 4 categories: planning, organizing, leading and controlling

What are the main functions of operations management?

Managing production and delivery of an organization's products or services Governs managers' decisions about how to increase productivity and efficiency Managing the supply chain

Who believed that organizations should become more democratic?

Mary Parker Follett

The X and Y theory was introduced by

McGregor

What types of are roles included in informational management roles?

Monitor, Disseminator, and Spokesperson

How did CEO dismissals related to ethical concerns change between 2008 and 2018? No CEOs were fired for misconduct. More CEOS were granted immunity. Fewer CEOs were fired for misconduct. More CEOs were fired for misconduct.

More CEOs were fired for misconduct.

"father of industrial psychology"

Munsterberg

Who were the 3 pioneers of behavioral theory?

Munsterberg, Follett, and Mayo

examples of trading blocks:

NAFTA -> USMCA EU (European Union; 27 trading partners) Trans-Pacific Partnership (11 countries)

"creator and inventor of modern management"

Peter Drucker

List the levels within Maslow's hierarchy of needs (bottom to top)

Physiological needs Safety Needs Love and Belonging Esteem Self-Actualization

Who were the 3 pioneers of administrative management?

Spaulding, Fayol, and Weber

Who were the 3 pioneers of scientific management?

Taylor and the Gilbreths

Which of these events are credited with setting up the conditions by which the global economy - goods, people, and money moving freely throughout the world - could flourish? The fall of the Berlin Wall The legalization of gay marriage in the United States Asian countries opening their economies to foreign investors The worldwide trend of governments deregulating their economies The bombing of Pearl Harbor

The fall of the Berlin Wall Asian countries opening their economies to foreign investors The worldwide trend of governments deregulating their economies

A group of nations within a geographical region that have agreed to remove trade barriers with one another is called _____. a trading bloc a most favored nation the United Nations collectivism

a trading bloc

During her interview, Sicily told the recruiter that she had worked overseas for the past six years where she had to learn a new language, understand the social rules of the country she was living in and adjust to cramped living quarters. This recruiter would see these conditions as a demonstration of Sicily's _____. temperament adaptability education confidentiality

adaptability

What is the focus of PRME? Global distribution Market development Stock sales Business education

business education

Renata is using the systems perspective to analyze her company. Which of the following should be included in her input analysis? Feedback Employee satisfaction Management capabilities Equipment

equipment

An organization's ethical _____ represents employees' perceptions about the extent to which the work environment supports ethical behavior. climate attitude mix demographics

ethical climate

________ managers believe their culture is superior to others, while ________ managers believe others know their own cultures best.

ethnocentric; polycentric

The rate at which the currency of one country can be exchanged for the currency of another country is called the _____ rate. bloc exchange embargo tariff

exchange rate

Lisette is a Canadian manager working in a foreign country on assignment for her company. Lisette is therefore a(n) ______. tariff immigrant expatriate embargo

expatriate

Millennials in the workforce: (Choose every correct answer.) expect more from the organizations they work for are concerned about a corporation's ethics, motives, and methods want personal success more than they want a happy life want work/life balance expect more from the organizations they do business with are more concerned with profit than social responsibility

expect more from the organizations they work for are concerned about a corporation's ethics, motives, and methods want work/life balance expect more from the organizations they do business with

The trend of the world economy toward becoming a more interdependent system is referred to as _______. benchmarking sustainability ethnocentrism globalization

globalization

Government's seizure of a domestic or foreign company's assets

expropriation

Nations are easily able to trade with one another when there aren't any political or economic obstructions hampering the process. This is known as _____. free trade competitive advantage isolationism first-mover advantage

free trade

forces make up the ________ environment, while groups and people make up the ________ environment

general; task

The rise in the average temperature near the Earth's surface due to an increase in greenhouse gases in the atmosphere is called _____ and is one aspect of climate change. sustainability global warming planetary radiation hemispheric cooling

global warming

What is the Hawthorne effect?

individuals modify aspect of their behavior when they know they are being watched

What is a top recommendation for improving cross-cultural competency? Study your family's heritage. Stream popular television shows in your region. Learn a foreign language. Participate in one of your own country's traditions.

learn a foreign language

A _______ organization actively creates, acquires, and transfers knowledge within itself and is able to modify its behavior to reflect new knowledge. closed production contingent learning

learning organization

Administrative management is concerned with managing: external vendors. individual workers. company assets. the total organization.

the total organization

country's imports - country's exports

trade balance

The use of government regulations to limit the import of goods and services is called _____. trade protectionism joint venture a greenfield venture free trade

trade protectionism

An economic community; group of nations within a geographical region that have agreed to remove trade barriers with one another

trading bloc

The ______ approach to solving ethical dilemmas involves ethical behavior being guided by what will result in the greatest good for the greatest number of people. utilitarian moral-rights justice individual

utilitarian