4 management functions correct answers planning, organizing, leading, controlling
Frederick Taylor correct answers came up with scientific management - the scientific study of work methods to improve the productivity of individual workers
criticism of scientific management correct answers peo...
BADM 310 Final Exam || very Flawless.
4 management functions correct answers planning, organizing, leading, controlling
Frederick Taylor correct answers came up with scientific management - the scientific study of
work methods to improve the productivity of individual workers
criticism of scientific management correct answers people were treated as machine parts instead
of humans
Maslow's Hierarchy of Needs correct answers Maslow said people are motivated to achieve
certain needs and that some needs take precedence over others. From bottom to top, the needs
are: physiological, safety, belongingness and love, esteem, and self-actualization
Hawthorne Effect correct answers employees worked harder if they received added attention, if
they thought that managers cared about their welfare and that supervisors paid special attention
to them
Douglas McGregor correct answers Theory X & Theory Y managers - Theory X managers
believed workers lacked ambition and hated work, but Theory Y managers believed workers are
optimistic and creative.
W. Edwards Deming correct answers came up with Total Quality Management (TQM)
Total Quality Management correct answers an approach dedicated to continuous quality
improvement, training, and customer satisfaction; 4 components - make continuous
improvements a priority, get every employee involved, listen to and learn from customers and
employees, make accurate standards to identify and eliminate problems
internal stakeholders correct answers employees, owners, board of directors
external stakeholders correct answers customers, competitors, suppliers, distributors, strategic
allies, mass media, government regulators, special-interest groups
4 approaches to deciding ethical dilemmas correct answers utilitarian, individual, moral-rights,
and justice approach
utilitarian approach correct answers guided by what will result in the greatest good for the
greatest number of people
individual approach correct answers guided by what will result in the individual's best long-term
interests, which ultimately are in everyone's self interest
moral-rights approach correct answers guided by respect for the fundamental rights of human
beings
, justice approach correct answers guided by respect for impartial standards of fairness and equity
Herzberg's Two Factor Theory correct answers work satisfaction and dissatisfaction arise from
two different factors - work satisfaction from motivating factors and work dissatisfaction from
hygiene factors; There are factors that don't motivate, but
absence of these factors will de-motivate
insider trading correct answers the illegal trading fo a company's stock by people using
confidential company information
ponzi scheme correct answers using cash from newer investors to pay off older ones
money laundering correct answers the concealment of the origins of illegally obtained money,
typically by means of transfers involving foreign banks or legitimate businesses
Sarbanes-Oxley Act of 2002 correct answers established requirements for proper financial record
keeping for public companies and penalties of as much as 25 years in prison for noncompliance;
result of Enron scandal; protects whistle-blowers
licensing correct answers a company allows a foreign company to pay it a fee to make or
distribute the first company's product or service
franchising correct answers a form of licensing in which a company allows a foreign company to
pay it a fee and a share of the profit in return for using the first company's brand name and a
package of materials and services
tariff correct answers a trade barrier in the form of a tax levied mainly on imports
dumping correct answers the practice of a foreign company's exporting products abroad at a
lower price than the price in the home market - or even below the costs of production - in order
to drive down the price of the domestic product
embargo correct answers a complete ban or prohibition of trade of one country with another
sanction correct answers the trade prohibition on certain types of products, services, or
technology to another country for specific reasons
NAFTA (North American Free Trade Agreement) correct answers a trading bloc consisting of
the United States, Canada, and Mexico
expropriation correct answers a government's seizure of a domestic or foreign company's assets
European Union correct answers A lot of what the EU does is about bringing people in Europe
closer together. It tries to make it easier for Europeans to buy and sell things to each other. This
is done by changing the rules that control trade. It is also getting rid of controls that stop people
from EU countries moving around freely inside the Union.
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