Exam (elaborations)
MAN 320F Test 1 (ch.1,6,8,10,12) Questions and Answers
- Course
- Institution
MAN 320F Test 1 (ch.1,6,8,10,12) Questions and Answers
[Show more]
Seller
Follow
millyphilip
Reviews received
Content preview
MAN 320F Test 1 (ch.1,6,8,10,12) Questions and AnswersCHAPTER 1 - Answer -
Management is getting work done through others. What does this mean in practice? - Answer -Managers are not responsible for knowing how to operate all the machines, but
instead enabling and equipping people in the company to do their jobs as best as possible.
What are the two primary concerns that managers are driven by? - Answer -efficiency and effectiveness; it is important that managers are concerned with both not just one or the other.
Give examples of why management needs to focus on efficiency AND effectiveness. - Answer -A company that is highly efficient in delivering goods to a customer, but not effective at making them (low quality) will not be successful. A company that makes the best hats in town but takes ten times as long as its competition is also not going to be successful.
In order to have effective management you must have what 5 things? - Answer -1. High productivity ============
2. High job satisfaction
3. Low absenteeism
4. Low turnover
5. Organizational citizenship behaviors
What are the 4 functions of management? - Answer -Planning, Organizing, Leading and
Controlling- managers who perform these well are more successful and gain promotions
and profits for their companies
The four different kinds of managers are: - Answer -top managers, middle managers, first line managers, and team leaders (look these up in the book for more details-
definitons are on the sheet) Read pg. 7-10
Team Leaders facilitate team activities toward accomplishing a goal. Some of the things
that they do are... - Answer -Help team members plan and schedule work, learn to solve problems, and work effectively with each other. They also manage internal and external relationships.
Henry Mintzberg developed the idea that... - Answer -managers fulfill 3 major roles- interpersonal, informational, and decisional roles (everything on slide is on vocab sheet so read more in book)
The 3 skills needed at different levels of management are technical skills, human skills, and conceptual skills. Which skill does every manager need the same amount of? - Answer -Human skills! Very important at every level
What skills are important for top managers? - Answer -conceptual skills and human skills, not so much technical
It is important for lower level managers to have what skills - Answer -technical skills and
human skills, not so much conceptual skills
What do managers do (Luthans)- on vocab sheet don't memorize (the 4 management activities) - Answer -Traditional management, communications, human resource management, networking
Effective managers have what breakdown of the 4 management activities? - Answer -
44% COMMUNICATION, 26% human resource management, 19% traditional, 11% networking
Successful managers have what breakdown of the 4 management activities? - Answer -
48% NETWORKING, 28% communication, 13% traditional, 11% human resource management
What is the difference between a successful manager and an effective manager? - Answer -a successful manager has speedy promotion, while an effective manager has high work quality/quantity and high employee satisfaction
What is the allocation of activities by time for average managers? - Answer -very even breakdown between the 4 management activities
What are 10 mistakes managers make? - Answer -1. insensitive to others: abrasive, intimidating, bullying 2. Cold, aloof, arrogant
3. Betray trust
4. Overly ambitious- thinking of next job, playing politics 5. Specific performance problems with the business 6. Overmanaging- unable to delegate or build a team 7. Unable to staff effectively 8. Unable to think strategically
9. Unable to adapt to boss with different style 10. Overdependent on advocate or mentor
Looking at the mistakes managers make is another way to... - Answer -understand what
it takes to be a manager
What did Jeffery Pfeffer find to be the difference between a successful and a failing company? - Answer -the way they treat their people
Pfeffer found that some of the things that mangers in top-performing companies did were ideas like... - Answer -employment security, selective hiring, self-managed teams and decentralization, high pay contingent on the company's performance, extensive training, reduced status distinctions between managers and employs, and extensive sharing of financial information.
Pfeffer found that these top-performing companies who did the things listed above had financial performance ____% higher than that of other companies - Answer -40%
By investing in people the way Pfeffer explained, these companies develop work forces that are... - Answer -smarter, better trained, more motivated, and more committed. These employees in turn provide better customer service and performance that give their companies a distinct advantage over competitors.
LOOK AT THE 1.7 CHART: COMPETITIVE ADVANTAGE THROUGH PEOPLE - Answer -learn what each of the things mean
Management practice: employment security - Answer -the ultimate commitment a company can make to employees, they can innovate without fearing the loss of their job
Selective hiring - Answer -the company needs to aggressively recruit and selectively screen applicants to hire the most talented people available
In what 3 ways is the manager's job changing? - Answer -Importance of Customers, Innovation, and Importance of Sustainability
What does importance of customers mean? - Answer -managers need to manage customer relationships, this is the responsibility of all employees and is essential for survival
What does it mean that managers now need to be more innovative? - Answer -doing things differently, exploring new territory, taking risks. Requires culture and management support
What does the importance of sustainability mean? - Answer -Managers need to achieve
business goals, maximize long-term shareholder value AND achieve economic, environmental, and social goals Business and Society Chapter 3 (5 questions): READ THIS AND ANSWER QUESTIONS Define stake and stakeholder
Describe origin of these concepts
Differentiate among the production, managerial, and stakeholder views of the firm
Differentiate among the 3 values of the stakeholder model
Explain the concept of stakeholder management
Identify and describe the five major questions that capture the essence of stakeholder management
Identify the 3 levels of stakeholder management capability
Describe the key principles of stakeholder management - Answer -READ
What was Camp Bow Wow and why was it in lecture? - Answer -Sue Ryan of Camp Bow Wow hired experienced pet care worker Candace Stathis who came on as a camp counselor and now is the general manager because she can work with both pets and clients. At Camp Bow Wow store managers have distinct roles from camp counselors. Camp counselors take care of dogs, answer phones, and book reservations while managers must know how to run all operations and manage people as well.
CHAPTER 6 - Answer -
What is strategy? - Answer -the plans that a company uses to find success, or in some cases recover after a failure
What is the definition of strategy as a verb and a noun? - Answer -Noun= a plan for achieving goals (how a firm will compete and how will it attract/satisfy customers)
Verb= decisions/actions that determine organization's performance
What is a business model? - Answer -design for how a company plans to profit from its strategies
What are the three different kinds of strategies? - Answer -corporate-level, industry-
level, and firm-level
what question does corporate-level strategy address? - Answer -"What business or businesses are we in or should we be in?"
what question does industry-level strategy address? - Answer -"How should we compete in this industry?"
what question does firm-level strategy address? - Answer -"How should we compete against a particular firm?"
A competitive advantage is providing a greater value for customers than competitors can. What do company's use to do this? - Answer -they use their resources- assets, capabilities, processes, employee time, information
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller millyphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for CA$18.64. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79271 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now