Brandman - Fundamentals of Management
What makes strategy significant in understanding the principles of management?
It provides leaders and employees with a clear set of guidelines for their daily actions, when correctly formulated and communicated.
Explain the principle known as managing ambiguity and paradox, in the context of Tom Peters and Robert Waterman's nine principles of management.
It refers to the ability to hold two opposing ideas in mind at the same time and still be able to function effectively.
What is true of strategic human resources management?
It reflects the aim of tying the organization's human capital, its people, into the mission and vision.
Select the point that best explains sustainability.
It represents doing something brand new.
What is sustainability?
It represents doing something brand new.
What is true of a services-based economy?
It requires interactions between employees and customers.
What is a fact related to the Competing Values Framework (CVF)?
It serves as a map, an organizing mechanism, a sense-making device, a source of new ideas, and a learning system.
Pick the right statement for an organizational design.
It should reflect and support the organizational strategy.
What is a characteristic of organizational culture?
It shows people what is appropriate and inappropriate behavior.
Pick the statement that is true of the Competing Values Framework (CVF).
It states that organizations exist in two dimensions, namely, organizational focus and control and flexibility.
What is true of the management function of controlling?
Managers at all levels engage in the managerial function of controlling to some degree.
Choose the correct description of line managers.
Managers who lead teams that contribute directly to the products or services the organization creates
According to the Competing Values Framework, pick the type of leadership that would be appropriate for an organization that works in an environment that produces static and unchanging products and services.
A leadership based on an orientation toward stability and routine
Kent Corp. functions in an environment which is highly turbulent and changing. According to the Competing Values Framework, what kind of leadership would suit the organization?
A leadership geared toward experimentation
Pick the question that is answered by vision statements.
"Where is this organization going?"
What are the 4 basic steps of controlling?
1.) set standards 2.) measure performance 3.) compare 4.) correct if necessary
Marvel Inc. is a software company with an organizational culture that treats all employees equally. However, recently there had been instances where some middle-level managers treated their subordinates unfairly. In this case, what is prevalent in the organization?
A breakdown in compliance
What is an audit that provides information about where an organization is with respect to what was planned for known as?
A budget audit
What is the strategy that focuses on how a given organization needs to compete to be effective known as?
A business strategy
Pick the correct example of related diversification.
A cell phone manufacturer starts making earphones.
Which of the following is an example of unrelated diversification?
A chocolate manufacturer starts making apparels.
What is the correct definition of a group?
A collection of individuals who interact with each other such that one person's actions have an impact on the other people
Name the theory that defines moral right and wrong as what the larger society dictates.
A cultural ethics theory
In the context of privacy, select the right example of an ethical dilemma in a manager.
A manager wonders if the company should monitor the Web sites visited by employees during work hours.
Of the nine principles of management given by Tom Peters and Robert Waterman, what does the principle "a bias for action" imply?
A culture of impatience with lethargy and inertia that otherwise leaves organizations unresponsive
What is a statement that defines the principles and guidelines that employees must follow in the course of all job-related activities known as?
A formal code of conduct
Choose the point that best describes controlling.
A function which involves ensuring that performance does not deviate from standards
Why do repetition and practice increase the value of a firm's capabilities?
A knowledge base is grounded in organizational actions that may not be explicitly understood by all employees.
In the context of sourcing of raw materials, what is the right example of an ethical dilemma faced by a manager?
A manager worries that the company buys from a supplier who may be underpaying their people or damaging the environment.
Describe Competing Values Framework (CVF).
A model that brings together the organization, its changing environment, and leaders' competing roles
Of the two traditional control techniques, what is an audit that tries to determine whether the figures reported are a reflection of actual enforcement known as?
A performance audit
Pick the statement that best describes self-concept.
A person's overall understanding about herself or himself that includes attitudes, feelings, self-esteem, and self-confidence
Select the right description of a valuable resource.
A resource that allows a firm to exploit opportunities or negate threats in the environment
What is a rare resource according to the VRIO criteria?
A resource that is not widely possessed by other competitors
What is the definition of a team?
A small number of people with complementary skills who are committed to a common purpose
What is a mission statement?
A statement of purpose, describing who the company is and what it does
Select the point that best describes a formal code of conduct.
A statement that defines the principles and guidelines that employees must follow in the course of all job-related activities
What is an organizational culture?
A system of shared assumptions, values, and beliefs showing people what is appropriate and inappropriate behavior
Define a cultural ethics theory.
A theory that defines moral right and wrong as what the larger society dictates
Which of the following best defines the duty theory?
A theory which affirms that right and wrong is determined by a set of unchanging rules
Of the five building blocks of learning organizations, what does experimentation imply?
A way to test ideas in small steps hunt for and test new knowledge
What Managerial Roles are in Decisional and what is the purpose of these roles?
Entrepreneur, Disturbance Handler, Resource Allocator, Negotiator - use information
Pick the correct statement regarding ethics.
Ethics does not just mean following the law but acting in accordance with basic values.
What allows firms to create value for customers?
Exploiting internal resources and capabilities and meeting the demanding standards of global competition
Pick the right example showing an individual with technical skills.
Farah, an engineer, is good at coding computing problems.
What Managerial Roles are in Interpersonal and what is the purpose of these roles?
Figurehead, Leader & Liasion - provide information
Which example best illustrates the intangible resources of an organization?
Fine Systems Inc. is a laptop manufacturer known for its innovative methods of developing products.
What is true of strategic planning?
It generally includes the entire organization and includes formulation of objectives.
What is true of egoism in the economic world?
It holds that the ethical good is defined as just whatever serves the organization's or individual's interest.
Select the point that best describes leading.
It involves influencing others toward the attainment of organizational objectives.
In the gauge-discover-reflect process, what does gauging involve?
It involves taking stock of one's knowledge and capabilities about a topic.
What is the Tragedy of the Commons?
It is a dilemma that occurs when several people, acting independently and rationally for their own self-interest, will use up a shared limited resource even when it is not in anyone's long-term interest.
What is a vision statement?
It is a future-oriented declaration of an organization's purpose and aspirations.
What is related diversification?
It is a type of diversification that occurs when a firm operates multiple businesses within the same industry.
How can a social movement be best described?
It is a type of group action that is very spontaneous and fluid.
Pick the correct statement regarding the VRIO analysis.
It is a way to distinguish resources and capabilities from core competencies.
What is a budget audit?
It is an audit that provides information about where the organization is with respect to what was planned for.
What is a performance audit?
It is an audit that tries to determine whether the figures reported are a reflection of actual enforcement.
Define innovation.
It is creating value through offering a new product or applying a new technique or technology for the purpose of producing or enhancing a product.
In generating valuable information about yourself, what is true of the first step that involves describing your ideal day?
It is designed to include as many sides of you and your enthusiasms as possible.
Pick the point that is true of the first step of describing your ideal day in generating valuable information about yourself.
It is designed to include as many sides of you and your enthusiasms as possible.
Why do virtual companies present special leadership challenges?
It is essential for leaders to keep people informed of what they are supposed to be doing and what other arms of the organization are doing.
Which of the following characterizes organizational culture?
It is formulated from the interaction of the employees in the workplace.
What is true of journaling?
It is inexpensive.
Pick the correct statement regarding value.
It is measured by a product's performance characteristics and by its attributes for which customers are willing to pay.
In the context of corporate strategy, what is diversification?
It is the number of different businesses that an organization is engaged in and the extent to which these businesses are related to one another.
In the Competing Values Framework, what explains leadership effectiveness?
It is the extent to which leaders can meet the requirements of the organization's internal and external challenges to achieve their goals.
Choose from the following, the statement that best describes empowerment.
It is the process of enabling or authorizing an individual to think, behave, take action, and control work and decision making in autonomous ways.
What is the definition of leadership?
It is the social and informal sources of influence that one uses to inspire action taken by others.
Choose the main purpose of applying an organizational design.
It is used to match the form of the organization as closely as possible to the purposes the organization seeks to achieve.
What happens when a firm possesses capabilities to exploit a valuable but widely held resource?
It leads to competitive parity for the firm.
Choose the statement that best describes human resources management alignment.
It means integrating decisions about people with decisions about the results an organization is trying to obtain.
Which of the following refers to compliance in the business world?
It means the organization's members are acting in accord with the organization's stated policies and values.
According to the nine principles of management introduced by Tom Peters and Robert Waterman, what does the principle of productivity through people mean?
It means treating rank-and-file employees as a source of quality.
When does related diversification occur?
It occurs when a firm operates multiple businesses within the same industry.
What is true of the Competing Values Framework (CVF)?
It offers a holistic way of studying leadership effectiveness.
Which statement is true of tactical planning?
Middle-level managers often engage in tactical planning.
Who among the following exemplifies an effective follower?
Mike, who exerts influence on his manager with his knowledge
Choose the example that best illustrates responsiveness to customers.
Milo Corp. allowed a purchaser to return his product without any complications.
Pick the correct statement regarding mission and vision.
Mission and vision both relate to an organization's purpose and aspirations.
Why are mission and vision most effective when they pervade the leadership of the entire organization, rather than being just the focus of senior management?
Mission and vision guide choices about organizing through an organizational structure and an organizational culture.
According to the broader definition of visionary leadership, how is efficiency achieved with limited hands-on supervision in an organization?
Mission and vision serve as a form of cruise control.
What Managerial Roles are in Informational and what it the purpose of these roles?
Monitor, Disseminator, Spokesperson - process information
Pick the term that refers to individuals who are arrogant and are always seeking admiration and attention.
Narcissists
What are the statements of tangible actions that need to be achieved and a timeline for their completion known as?
Objectives
What is a system of shared assumptions, values, and beliefs showing people what is appropriate and inappropriate behavior known as?
Organizational culture
What is a formal, guided process for integrating the people, information, and technology of an organization known as?
Organizational design
Define Functional Managers
Responsible for efficiency and effectiveness of an area i.e. accounting, marketing
Of the five building blocks of learning organizations, what does learning from past experience imply?
Review projects and products to learn what worked and what didn't
Pick the right example that shows sustainability.
Rotating the cultivation of different crops on the same piece of land
Who among the following is an effective leader?
Sara, who is able to influence her followers ethically to reach common goals
Victor Corp., a sports goods manufacturer, is reputed for the quality of its wide variety of products and warm customer service. It is also known for its innovative methods of holding sales. In this case, which of the following is being discussed about the organization?
The intangible resources of Victor Corp.
Which of the following describes synergy in corporate strategy?
The interaction of two or more activities, creating a combined effect greater than the sum of their individual efforts
Choose the statement that best describes objectives.
They are statements of tangible actions that need to be achieved and a timeline for their completion.
In the context of planning, what are objectives?
They are statements of tangible actions that need to be achieved and a timeline for their completion.
What happens when productive narcissists become unrealistic dreamers?
They become unproductive.
According to the leadership styles identified by Daniel Goleman, select the specific role of coaches.
They challenge members of an organization to meet specific, relatively accessible goals under close supervision.
Pick the correct statement regarding resources.
They cover a spectrum of individual, social, and organizational assets.
How does a company of large size and magnitude effectively manage and motivate employees from diverse backgrounds and experiences?
They depend on the productivity and performance of their employees.
Pick the correct description of mission statements.
They describe who the company is and what it does.
Pick the point that explains core competencies.
They distinguish a company competitively and reflect its personality.
Why should an organization's mission and vision statements be widely circulated?
They enable employees to better understand the strategy and its implementation.
According to the leadership styles identified by Daniel Goleman, pick the right role of affiliative leaders.
They foster social harmony within the organization and focus on the human and emotional dynamic of the workplace over immediate work requirements.
Which of the following characterizes high Machs?
They like their work less.
In planning, what should planners do immediately after scanning the environment?
They must attempt to forecast future conditions.
In the planning process, what should planners do immediately after establishing objectives?
They must identify alternative courses of action for achieving objectives.
In the planning process, once a planner completes environmental scanning, identify the step that should be applied by planners.
They must then attempt to forecast future conditions.
How do goals and objectives that flow from an organization's mission and vision provide a basis for assessing actual versus desired performance?
They provide feedback that helps managers assess the degree to which the organization is succeeding.
Why should goals and objectives that flow from an organization's mission and vision ideally be specific and measurable?
They provide feedback that helps managers assess the degree to which the organization is succeeding.
What are shared purposes?
They relate to how leaders and followers arrive at the common goals of an organization.
What is a fact related to Theory X leaders?
They see people as lazy and unmotivated to work.
According to the Competing Values Framework, what is required for organizations to function effectively?
They should be positioned in an external environment that fits their product, service, and strategic goals and capabilities.
What is true of general managers?
They take direction from their top executives and must first understand the executives' overall plan for the company.
What is a likely result when vision statements create a tension and restlessness with regard to the status quo?
They tend to foster a spirit of continuous innovation and improvement.
Choose the point that best describes early views of management.
They were heavily oriented toward efficiency at the expense of attention to the manager-as-leader.
Which critical role is played by mission and vision statements?
To communicate the purpose of the organization to stakeholders
What is the master paradox?
To develop a level of comfort and complexity and ambiguity.
Choose a critical role of mission and vision statements.
To inform strategy development
What is the task of a manager in a monitor role?
To receive and collect information
What is locus of control?
Where a person thinks control and responsibilities lie
Explain the principle known as managing autonomy and entrepreneurship, in the context of Tom Peters and Robert Waterman's nine principles of management.
Actions that foster innovation and nurture customer and product champions
What are organizational citizenship behaviors?
Activities that add value to a job, but are not part of a formal job description
What is the definition of a virtual organization?
An organization in which employees work remotely-sometimes within the same city, but more often across a country and across national borders
What best describes a learning organization?
An organization that is skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights
Who is most likely to engage in tactical planning?
An organization's middle-level managers
Antonio heads the marketing team of Gatsby Inc. He always looks for compliments and appreciation about his work. He tends to criticize and underestimate his subordinates when they approach him for help. On the other hand, he gets easily hurt and irritated when he gets criticized by others. Select the right statement about Antonio.
Antonio has high levels of narcissism.
In the business world, why would assembly-line work be a good candidate for collectivism?
Any finished product is only as good as the weakest part.
According to the VRIO criteria, what does the concept of imitation include?
Any form of acquiring the lacking resource
How is entrepreneurship best understood?
As a process because it often involves more than simply coming up with a good idea, someone also has to convert that idea into action
To understand the different learning styles, Mark uses the gauge-discover-reflect process and chooses his topic as environmental hazards. In this case, what will Mark do during the gauge step?
Assess his information and proficiencies related to the topic
Choose the best description of tangible assets.
Assets that can be seen and quantified
Choose the point that describes the principle known as simultaneous loose-tight properties according to the nine principles of management introduced by Tom Peters and Robert Waterman.
Autonomy in shop-floor activities along with centralized values
What happens when an enterprise internally promotes basic values including honesty, but outside in the world where the transactions happen, the lesson is lost?
Breakdown in compliance occurs
How do vision statements foster a spirit of continuous innovation and improvement?
By creating a tension and restlessness with regard to the status quo
How can a firm that possesses a valuable and rare resource gain a competitive advantage?
By effectively using the resource
How can the leadership in an organization make frontline responsibility effective?
By learning to trust workers and giving them sufficient opportunities to develop quality decision-making skills
How can individuals know if they have been honest in developing their personal mission and vision statements?
By sharing the results of the process with one or more people who are close to them
Select the accurate point that characterizes capabilities.
Capabilities are often based on developing, carrying, and exchanging information through a firm's human capital.
What is true of capabilities?
Capabilities are often developed in specific functional areas or in a part of a functional area.
What characterizes capabilities?
Capabilities can be tangible, like a business process that is automated, but most of them tend to be tacit and intangible.
According to the leadership styles identified by Daniel Goleman, select the specific role of pacesetter
Challenges members of organization to work and meet goals by setting a strong example
In the six-step approach to problem solving, what step should be taken up immediately after gathering relevant data?
Clarify the problem.
What step should be taken up immediately after gathering relevant data in the six-step approach to problem solving?
Clarify the problem.
What reveals the need for unity in the leader-follower relationship?
Common goals
While making formal presentations, Tim, a human resource executive, expresses himself clearly and concisely. He often tends to influence others easily through his speech. Based on the description of Tim, what skills does he possess?
Communication skills
What is true of social networking?
Companies use social networking systems internally to help identify experts.
Of the five building blocks of learning organizations, what does systematic problem solving imply?
Company must have consistent problem solving, using data and statistic tools rather than assumptions
What characterizes the management role of controlling?
Ensuring that the work-related activities of subordinates are consistent with the accomplishment of organizational objectives
What is true of controlling?
Controlling requires a clear understanding of where responsibility for deviations from standards lies.
Pick the first step among the tools for generating valuable information about yourself.
Describe your ideal day.
What is the first step among the tools for generating valuable information about yourself?
Describe your ideal day.
Define Top Managers
Develop organizations strategy and are stewards for its vision and mission
Which activity is involved in organizing?
Developing an organizational structure
What refers to doing whatever one is doing as simply and easily as possible?
Efficiency
According to the broader definition of visionary leadership, what happens when the mission and vision serve as a form of cruise control?
Efficiency will be achieved with limited hands-on supervision.
Pick the statement that implies as to why new management theories were developed.
Employees have to be able to improvise, and they have to be motivated and happy if they are to serve the customer in a friendly way.
What happens when there is a correlation between a manager's leadership style and the productivity and motivation of employees?
Employees will feel a sense of importance and see themselves as part of the process necessary to maintain a successful and profitable business.
What is likely to occur when there is a correlation between a manager's leadership style and the productivity and motivation of employees?
Employees will feel a sense of importance and see themselves as part of the process necessary to maintain a successful and profitable business.
What refers to a person's ability to affect or change the actions, behaviors, and opinions of others?
Influence
What is true of leaders and followers?
Followers can exert influence on leaders.
Pick the correct statement regarding leaders and followers.
Followers should not simply be yes-people.
What is a fact related to strategic planning?
Formulation of objectives is generally included under strategic planning.
Tina has been meeting her productivity and quality targets poorly. She is using the six-step approach to problem solving. She currently understands that she does not meet her targets efficiently because she takes long breaks, uses her cell phone constantly, takes a long time to understand some of her tasks, and rarely asks queries. According to the approach, which step is she currently implementing?
Gathering relevant data
What should a manager do immediately after clarifying the problem in the six-step approach to problem solving?
Generate possible solutions.
What step should be taken up immediately after clarifying the problem in the six-step approach to problem solving?
Generate possible solutions.
Giselle, an employee at Lumia Corp., believes in learning from her mistakes. She does not shy away from taking up a new task if she is not familiar with it. She takes it up and learns how to execute it. In this case, what is true of Giselle?
Giselle is a kinesthetic learner.
According to the leadership styles identified by Daniel Goleman, select the specific role of commander
Gives clear directions and expects compliance
According to the leadership styles identified by Daniel Goleman, select the specific role of visionary
Guides organizations members to shared vision, establish and communication vision
Choose a criterion for developing a good BHAG-a big, hairy, audacious goal.
Have a long time frame.
Oliver, a manager, has not been managing his time effectively. He has identified his problem and now he wants to enhance his time management skills. According to the six-step approach to problem solving, select the step that should now be immediately taken up by him.
He should accumulate relevant information associated with his inability to manage time effectively.
Zack, a team lead, realizes that his team's productivity is low. He has identified the problem and now he wants to improve his team's productivity level. According to the six-step approach to problem solving, what step should now be immediately taken up by him?
He should accumulate relevant information associated with his team's low level of productivity.
Which of the following characterizes operational planning?
It generally assumes the existence of organization-wide or sub-unit goals and objectives and specifies ways to achieve them.
Ben received negative feedback on his performance. Since he wants to be seen as a highly valued contributor, he uses the six-step approach to problem solving to achieve his goal. He has come up with following possible solutions: work on his communication skills, meet productivity and quality standards consistently, take initiative, avoid taking leaves regularly, and stop taking long breaks. According to the approach, which step should Ben take immediately after generating possible solutions?
He should select the best option.
Dan is looking for a job and has been rejected often due to his poor performance during the interview. He desperately needs a job and uses the six-step approach to problem solving. He comes up with few solutions to the problem such as improving his communication skills, developing his résumé by adding more details, and improving his body language. According to the approach, which step should Dan take immediately after generating solutions?
He should select the best option.
According to the Competing Values Framework, what is addressed by the dimension of control and flexibility?
How an organization handles stability and change
What means integrating decisions about people with decisions about the results an organization is trying to obtain?
Human resources management alignment
While planning, what should planners do immediately after establishing objectives?
Identify alternative courses of action for achieving objectives.
Select the first step that should be implemented while identifying one's core mission statement and values.
Identify past successes.
What is the first step to identifying one's core mission statement and values?
Identify past successes.
Pick the first step in the six-step approach to problem solving.
Identify the problem one wants to work on.
According to the VRIO criteria, when is a resource said to be inimitable?
If it is difficult for another firm to acquire the resource
When does a valuable but widely held resource lead to competitive parity for a firm?
If the firm also possesses the capabilities to exploit the resource
In an organization, when should corrective action be prompted by mission and vision?
In cases where performance falls short of performance objectives
What is true of entrepreneurship?
In entrepreneurship, bigger problems often means there will be a bigger market for the product or service that the entrepreneur creates.
What is the difference between in-role performance and organizational citizenship behavior (OCB)?
In-role performance is associated with certain standards that must be met to do a job, whereas OCB is beneficial to the organization but not directly recognized by the formal reward system.
Select the correct statement regarding compatibility of individual and group performance.
Incentives need to be aligned between individuals and groups.
What best describes followers?
Individuals who are under the influence of leadership
Describe the term "Mach" (Machiavellianism).
Individuals who gain and use power without regard to the consequences
In the corporate world, what is a social network made up of?
Individuals who share an employer and, potentially, other interests as well
What are the skills needed to get along with and motivate other people known as?
Interpersonal skills
Who among the following has good communication skills?
Irene, who has the ability to prepare clear documents on the operations of her team
Pick the right statement regarding journal entries.
It allows one to examine his or her own emotional responses.
Choose the statement that is true of an individualistic organization.
It closely links pay and benefits to performance and success.
What is a fact related to corporate strategy?
It considers an organization to be a portfolio of businesses, resources, capabilities, or activities.
What happens when an organization's mission challenges the status quo?
It creates a need for "change leaders."
Select the right statement regarding the consequentialist-utilitarian theory.
It defines acts of business as acceptable depending on whether they end up doing the most good for the most people.
What is the importance of efficiency in business?
It enables employees to not waste time while trying to do their jobs.
What is the significance of top-level managers obtaining informational roles?
It enables them to be seen as industry experts both by employees and customers.
What is a fact related to synergy?
It exists when the interaction of two or more activities, such as those in a business, create a combined effect greater than the sum of their individual effects.
What is the focus of a business strategy?
It focuses on how a given organization needs to compete to be effective.
What is true of operational planning?
It generally assumes the existence of organization-wide or sub-unit goals and objectives and specifies ways to achieve them.
Jessica is a team lead who believes in her capabilities. She has confidence in her judgments and has a sense of control over the environment. In this case, what is most likely to be true of Jessica.
Jessica has a positive self-concept.
While identifying her personal mission and vision, Julia prepares a list of five instances of her achievements at home and at workplace. She then identifies common themes to the instances and writes them down. According to the steps for identifying one's core mission statement and values, what should Julia do next?
Julia should identify her core values.
Ken wishes to identify his core mission statements and values. He spends sometime identifying few instances at his workplace where he had been successful in the past. He writes them down and identifies a common theme. According to the steps for identifying one's core mission statement and values, what should be Ken's next step?
Ken should identify his core values.
Define Staff Managers
Lead functions that create indirect inputs i.e finance & accounting
What does the name of the framework "competing values" reflect?
Leaders and followers must balance their roles with each other's functional differences and with the organization's requirements to compete in its external environment.
What is reflected by the name of the framework "competing values"?
Leaders and followers must balance their roles with each other's functional differences and with the organization's requirements to compete in its external environment.
What is true of social movements?
Leaders of social movements depend on charisma rather than authority to motivate participants to action.
What is a fact related to ethical behavior of leaders in organizations?
Leaders set the moral tone of the organization and serve as role models.
How can ethical leadership be exercised?
Leaders should keep in constant touch with subordinates about ethical policies and expectations.
According to the leadership styles identified by Daniel Goleman, select the specific role of transactional leadership
Leadership dedicated to getting the member of an organization on board through give and take and inclusion
According to the gauge-discover-reflect process, what describes the component of discovering?
Learning enough about a topic so that one can set specific development goals that he or she can apply and practice
Which guideline should be followed while identifying your core mission statement and values?
Make a list of the ways you could make a difference.
What best describes ethics?
Making a choice between decision-making rules
What is process improvement?
Making the way we perform our current processes more sustainable
Explain the principle known as managing hands-on value driven, in the context of Tom Peters and Robert Waterman's nine principles of management.
Management philosophy that guides everyday practice and shows managements commitment
What is a fact related to the management function of controlling?
Managers at all levels engage in the managerial function of controlling to some degree.
What is a fact related to an individualistic organization?
Pay and benefits are likely to be closely linked to performance and success.
Pick the right statement regarding mission, vision, and leading.
People will help diffuse a revolutionary philosophy even while the leader (i.e., the founder or CEO) is not present.
Select the first step that should be implemented in the planning process.
Planners must be aware of the critical contingencies and trends facing their organizations.
What is the first step in the planning process?
Planners must be aware of the critical contingencies and trends facing their organizations.
How does the existence of plans make controlling effective?
Planning provides the necessary performance standards or objectives.
Why does effective controlling require the existence of plans?
Planning provides the necessary performance standards or objectives.
What is P-O-L-C Framework?
Planning, Organizing, Leading & Controlling
What is included under responsiveness to customers?
Providing customers with a large selection of quality items to choose from
What is NOT included under responsiveness to customers?
Providing customers with products developed using conventional methods
Of the five building blocks of learning organizations, what does learning from others imply?
Recognizing that good ideas come from anywhere, not just inside the company
What is a suggestion for effective time-management?
Set aside a certain time each day to return phone calls and answer e-mail.
Define corporate strategy.
Set of strategic alternatives that an organization chooses from as it manages its operations simultaneously across several industries
Pick an accurate criterion for developing a good BHAG-a big, hairy, audacious goal.
Set with understanding, not bravado.
Define values.
Shared principles, standards and goals
Of the five building blocks of learning organizations, what does transferring knowledge imply?
Sharing knowledge quickly throughout the organization to make everyone smart contributing member
Mona, a sales manager, realizes that her team members are not meeting their monthly sales targets frequently. She implements the six-step approach to problem solving and comes up with a few possible solutions to the problem. She then gets input from her team members and chooses the best solution to the problem. What should be Mona's next step?
She should implement her decision.
Explain the principle known as managing stick to the knitting, in the context of Tom Peters and Robert Waterman's nine principles of management.
Stay with what you do well and the businesses you know best
Explain the principle known as managing close to the customer, in the context of Tom Peters and Robert Waterman's nine principles of management.
Staying close to the customer to understand and anticipate customer needs and wants
What are the time frames and how much of the organization are in strategical, tactical and operational planning?
Strategic - top, 3-5 years, whole organization Tactical - Mid, 2-3 years, large parts Operational - Low, 0-2 years, small parts
Which of the following provide important information about the ways in which workers can be energized to put forth productive effort?
Studies of motivation and motivation theory
Which of the following best describes administrative systems in an organizational structure?
Systems that govern the organization through guidelines, procedures, and policies
What is the difference between groups and teams?
Teams differ from other types of groups in that members are focused on a joint goal or product.
What are the skills needed to perform specific tasks known as?
Technical skills
Define leadership.
The ability to influence followers to achieve common goals through shared purposes
According to the leadership styles identified by Daniel Goleman, select the specific role of transformational leadership
The ability to transform the members of an organization into devoted and unselfish advocates of its goals
Which of the following best describes core competencies?
The activities through which a firm adds unique value to its goods or services over a long period of time
Explain the principle known as managing simple form, lean staff, in the context of Tom Peters and Robert Waterman's nine principles of management.
The best companies have very minimal, lean headquarters staff
Describe quality.
The characteristic of a product or service that satisfies customer needs
Exxel Corp. has the ability to deal with its employees efficiently by motivating them, by enhancing teamwork, and by encouraging innovation and change. This ability enables the firm to outshine its competitors. The firm's leaders inspire employees to participate in discussions regularly and provide valuable suggestions for the growth of the company. The firm allows its employees to grow along with it. In this case, which of the following is being discussed regarding the organization?
The core competencies of Exxel Corp.
How is a strategy best defined?
The creation of an organization's long-term purpose, articulated by clear goals and objectives that can be incorporated into a coherent plan of action
What kind of ethical dilemma can arise in the area of advertising?
The desire to present one's product or service in the best light
Choose the point that should be kept in mind while developing one's personal mission and vision.
The development of a personal mission and vision is exactly the opposite of what most people follow.
What should be kept in mind while developing one's personal mission and vision?
The development of a personal mission and vision is exactly the opposite of what most people follow.
Pick a limitation of the early views of management.
The early views presumed that managers were overseeing manual labor tasks.
Pick the point that best describes a leadership persona.
The image and values a leader chooses to project across the workplace
Choose the statement that is true of corporate strategy.
The logic behind corporate strategy involves the concepts of synergy and diversification.
What is true of corporate strategy?
The logic behind corporate strategy involves the concepts of synergy and diversification.
Explain the liaison role of a manager.
The manager interacts with peers and people outside the organization.
What is the assumption of the principles of division of labor and specialization?
The more narrow the job content, the more proficient the individual performing the job could become.
What is likely to happen when an organization's vision challenges the status quo?
The need for "change leaders" increases.
What is revealed by common goals?
The need for unity in the leader-follower relationship
Select the right difference between the prior theories of leadership effectiveness and the Competing Values Framework (CVF).
The prior theories would suggest that a leader or an organization would fall into one of the eight categories of leadership roles, but in CVF, a leader or an organization must perform all eight roles within the four quadrants of the model.
Which of the following best defines entrepreneurship?
The recognition of opportunities, needs, wants, problems, challenges, and the use or creation of resources to implement innovative ideas for newly planned ventures
What is true of managerial skills?
The relative importance of different skills varies from job to job.
Select the correct statement regarding managerial skills.
The skills needed by managers vary according to level.
What are conceptual skills?
The skills needed to reason abstractly and analyze complex situations
Pick the statement that is true of Theory Y leaders.
Their assumptions may be characterized as commitment and trust oriented.
Which of the following occurs if managers are effective leaders?
Their subordinates will be enthusiastic about exerting effort to attain organizational objectives.
What are capabilities?
They are a firm's capacity to deploy resources that have been purposely integrated to achieve a desired end state.
Why do mission and vision rarely spell out specific actions firms should take when performance is below expectations?
They are high-level statements.
What are core competencies?
They are resources and capabilities that serve as a source of a firm's competitive advantage over rivals.
The state of Earlville has released a law that a household can own only one automobile due to the prevailing fuel crisis in the state. Oliver, his wife Reese, and their son Jason reside in this state and own an automobile each. Identify the dilemma that occurs due to the behaviors of these three individuals.
Tragedy of the Commons
Which of the following components is essential to organizational success and achieving customer satisfaction?
Treat employees as key stakeholders.
Which example best illustrates process improvement?
Turning off all electric lights when there is sunlight
Uma is generating ideas for her mission and vision statement. She wants to write what she aims to achieve in her life. She wants her family, friends, and neighbors to talk about how she established a community center for the senior citizens residing in her locality. According to some of the tools for generating valuable information about oneself, what step is being executed by Uma?
Uma is considering how she would like to be remembered.
What are the different types of learning styles?
Visual, Auditory & Kinesthetic Learner
When will there be a greater need for "change leaders" in an organization?
When a vision statement creates some dissonance with the status quo
When is a resource or capability said to be valuable?
When it allows a firm to exploit opportunities
In the context of VRIO criteria, when does a valuable but widely held resource lead to competitive parity for a firm?
When the firm possesses the capabilities to exploit the resource
When do organizations function effectively according to the Competing Values Framework?
When they are positioned in an external environment that fits their product, service, and strategic goals and capabilities
How should an effective journal entry be written?
With clear images and feelings
What is true of vision, mission, and leading?
Without real change leaders, a revolutionary vision would remain a mere idea of the visionary CEO.
Pick the correct guideline that should be followed while generating ideas for your mission and vision.
Write a rough draft (a page of any length) of your mission statement.
Define Supervisory/Team Managers
coordinating sub-group of a particular division or team of members from different parts of the organization
What is strategic management?
reflects what a firm is doing to achieve its mission and vision as seen by its achievement of specific goals and objectives
Define Project Manager
responsible for planning, execution and conclusion of projects. Found in construction, architecture, consulting, etc.
In the gauge-discover-reflect process, what does reflecting involve?
step back and look at the ways you have achieved your goals.
