MGT 301 Exam 1 UKY || Questions and 100% Accurate Answers.
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Course
MGT 301 UKY
Institution
MGT 301 UKY
Christine Poon, Vice president of Johnson and Johnson, said that the habit of daily news reading gives students 5 benefits: correct answers 1. The world opens up to you
2. You understand the complexities (messiness, paradox, ambiguity) of the world.
3. You understand where you stand- your place i...
MGT 301 Exam 1 UKY || Questions and 100% Accurate
Answers.
Christine Poon, Vice president of Johnson and Johnson, said that the habit of daily news reading
gives students 5 benefits: correct answers 1. The world opens up to you
2. You understand the complexities (messiness, paradox, ambiguity) of the world.
3. You understand where you stand- your place in the world, your vision, mission and passion.
4. You understand your own belief systems better.
5. You become a more well-rounded human being, and that is exactly what the world needs.
(Two forces driving all success)
- Efficiently correct answers Maximum Output / Minimum Inputs
Six Major Challenges Facing Managers Today correct answers 1. Increasing Efficiency -- due to
globalization and international competition
2. Increasing effectiveness by improving the quality of our work
3. Becoming more flexible and innovative in serving customers' needs
, 4. Properly utilizing IT - every business collects lots of data (i.e. "big date", but what does it
mean? Use analytics to turn information into knowledge
5. Maintaining high ethical standards
6. Leveraging the power of diversity
The Path to Success and Wealth (4 Parts) correct answers 1. Offer something that others value
highly, that makes them better-off
2. Do it in a distinctive, rare, unique way
3. Do it efficiently, spending/wasting as few resources as possible
4. Be flexible: learn and grow; adopt and progress
Frederick Taylor, early 1900's correct answers - "Father of Scientific Management
- Motto: "one best way"
- completed time and motion studies
- teaching still used today (UPS)
Frederick Taylor developed 4 principles for Labor Efficiency (how to make a task efficient)
correct answers 1. Managers must study every task in its smallest components
2. They must then create rules/ standard operating procedures to codify the one best way to do
the tasks
3. Workers are seen simply as pieces of machinery. The best one should be picked to fit into the
task. Managers fir the workers to the task, not the task to fit the workers
4. Workers should be paid based on performance, known as piece-rate pay.
Max Weber, German, Early 1900's correct answers - Known as the "Father of Bureaucracy"
- Came up with how to make an entire company efficient:
1. A manager's authority is not based on kinship, but should be based on position in hierarchy
(no more nepotism)
2. This position should come from expertise, knowledge and skill
3. Everybody must have a job description
4. Job description must be organized into charts
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