FBS Study Guide With Complete Answers| Guaranteed Success.

What are the 3 types of skills managers need? - correct answer - Conceptual skills - Human skills - Technical skills What are the tasks of a manager? - correct answer - Managing - Leading - Organizing What did Henry Ford invent? - correct answer - Assembly lines - Low-cost-goods mass-production - Higher wages Who is Frederick W. Taylor? - correct answer Inventor of Scientific Management Theory Who are the Gilbreths? - correct answer Inventors of increasing efficiency by Scientific Management Theory Who is Henri Fayol? - correct answer Inventor of 14 principles to increase management process Who is Mary Parker Follett? - correct answer Inventor of Behavioral Management Hawthorne Effect: Workers happiness is greatly affected by managers behavior Who is Douglas McGregor? - correct answer Inventor of: Theory X & Y Theory X Worker is minimalist: close supervision, strict rules needed Theory Y Worker is will do good given the chance: manager must provide optimal work environment and give worker all the necessary "tools" Who are the Stakeholders of a company? - correct answer - Competitors - Shareholders - Customers - Community - Government - Suppliers - Managers 4 Ethical Rules for Decision Making - correct answer - Moral rights rule - Utilitarian rule - Justice rule - Practical rule Main Sources for Managerial Ethics - correct answer - Individual's ethics - Organization's ethics - Occupational ethics - Societal ethics 4 Ethical approaches of companies - correct answer - - Obstructional - Defensive + Accommodative + + Proactive What are the 3 layers of global environment? - correct answer - General Environment - Task Environment - Organization What's Hofstede's Model of National Culture? - correct answer - Individualism vs Collectivism - High vs low power distance - Low vs high uncertainty avoidance - Short vs long term orientation - Achievement vs Nurturing orientation What's the SWOT analysis? - correct answer - Strength - Weaknesses - Opportunity - Threat What are the parts of the General Environment? - correct answer - Politics - Environment - Society - Technology - Law - Economics What are the parts of the Task Environment? - correct answer - Competitors - Distributors - Supplier - Customer What are Michael Porter's 5 Forces? - correct answer - The level of rivalry among organization in an industry - The potential for entry into an industry - The power of large suppliers - The power of large customers - The threat of substitute products 3 levels of planning? - correct answer Corporate-level plan Business-level plan Functional-level plan What are possible contents for a corporate-level plan? - correct answer - Concentration on a single industry - Vertical integration - Diversification - International Expansion What are possible contents for a business-level plan? - correct answer - Low-cost strategy - Differentiation strategy - "Stuck in the middle" What are possible contents for a functional-level plan? - correct answer - Ansoff Matrix 2 other concepts for planning - correct answer - Scenario planning - Time Horizons of plans How can a company gain the competitive advantage? - correct answer - Superior quality - Superior efficiency - Superior innovation, speed and flexibility How can responsiveness to customers be improved? - correct answer - CRM - TQM - JIT - Process Reengineering What is a stage-gate-development funnel? - correct answer 3 level of brainstorming What must be considered designing organizational structure? - correct answer - Organizational architecture - Organizational environment - Technology - Strategy - Human resources How is variety in jobs established? - correct answer - Job Enlargement - Job Enrichment What are the 5 variables of the Job Characteristics Model (JCM)? - correct answer - Skill variety - Task identity - Task significance - Autonomy - Feedback What types of organizational structures are there? - correct answer - Matrix - Divisional - Function, Product, Demography, Geography 5 possibilities of integrating and coordinating mechanisms - correct answer - Direct contact - Liaison roles - Task forces - Cross-functional teams - Integrating roles What does Organizational Culture comprise of? - correct answer - Characteristics of organizational members - Ethics - HR practices - Structure What are the 3 levels of Organizational Control? - correct answer - Feedforward control (Input stage) - Prevent problems - Concurrent control (Conversion stage) - Manage problems as they occur - Feedback control (Output stage) - Manage problems after they arise What is the control process? - correct answer 1. Establish evaluation goals 2. Measure 3. Compare 4. Evaluate result and initiative How can output be controlled? - correct answer - Financial measures of performance - Organizational goals - Operating budgets