MGT 101 Exam 1 Question And Answer.

Purpose of Management - correct answer to use these resources effectively and efficiently so that the objectives of the organization are achieved with a minimum of cost. - Efficiency, Effectiveness, Productivity Transactional Leaders - correct answer (Managers) get stuff done, kick the can down the road - use incentives to get people to do things Transformational Leader - correct answer (True Leaders) change the nature of the business, most importantly, they focus on doing the right things - what's right for the business, the stakeholders, the consumers, and the economy - get people to do things because they want to do them Planning - correct answer Determining appropriate goals for the firm and deciding how to accomplish these goals Organizing - correct answer Assigning responsibility to employees for task achievement to collaboratively achieve goals Leading - correct answer Influencing and motivating others to achieve set goals Controlling - correct answer Monitoring, evaluating, and maintaining desired performance Levels of Management - correct answer CEO, Upper-Level, Middle-Level, First-Line Specific Management Skills Examples - correct answer job knowledge, oral communication, persuasiveness, tolerance of stress Electronic Business - correct answer Achieving management goals through the use of the internet Global Organizations - correct answer Expanding business activities beyond national boundaries Management Theory - correct answer a systematic statement based on observations, of how the management process might best occur, given stated underlying principles Classical Approach to Management - correct answer stresses the manager's role in a formal hierarchy of authority and focuses on the task, machines, and systems need to accomplish the task effciently Max Weber - correct answer German leader for Classical Approach to Managment, based his concept off of the Prussian Army Henry Fayol - correct answer French leader for Classical Approach to Management, ran a coal mine and wrote a book with 14 principles of management Henry Gantt - correct answer developed idea for organizing and scheduling, created the Gantt Chart that shows what the schedules are and how tasks link together Scientific Management - correct answer emphasizes the systematic study of and experimentation with workers' tasks, methods, and tools as a means of improving worker efficiency Frederick Tayor - correct answer Developed principles of Scientific Management Principles of Scientific Management - correct answer 1) Develop the one best way to do a task 2) scientifically select, train, teach, and develop each worker 3) provide an incentive so that the work is done the one best way 4) divide work and responsibility equally between management and workers 5) Workers must share in the benefits of 1-4 Frederick Taylor's Assumptions - correct answer 1) Employers and employees have mutual interests associated with economic gain. 2) Humans are rational beings and economically motivated. 3) For every person willing to work hard, there is a job for which he or she is ideally suited. Behavioral Approach to Management - correct answer emphasizes the importance of human behavior, needs, and attitudes within organizations Hawthorne Study - correct answer brought to managers' attention the critical nature of the social needs of workers and led to the development of the human relations movement - Elton Mayo - Western Electric Maslow's Hierarchy of Needs - correct answer Psychological, Safety, Social, Self-Esteem, Self-Actualization Theory X - correct answer Douglas McGregor - people are naturally lazy and need to be pushed, badgered and cajoled to work - manage by threats, fear, and so on Theory Y - correct answer Douglas McGregor - people want to do good - need to provide them with the tools, equipment, materials, safe work environment, so that they can do their jobs Contingency Approach - correct answer emphasizes identifying the key variables in each management situation, understanding the relationships among these variables, and recognizing the complex system of cause and effects that exists in every managerial situation Open Systems - correct answer Created to satisfy a perceived need, and consist of various sub-systems that interact with each other and the environment to produce an output Basic Process of an Open System - correct answer Environment, input goes from environment, through the boundary, into the system, then it goes through the transformation process, becomes an output, which goes back into the environment and send out feedback Negative Feedback - correct answer tells the system whether or not it is achieving its perceived needs Positive Feedback - correct answer tells the system that the environment wants something new entirely and they need to change the process