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Principles of Management Objective Assessment Questions with Accurate Answers
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analyses the causes of product defects in an approach called Six Sigma (reach lowest practical level of any cause of customer dissatisfaction) correct answer identify and understand the importance of statistical analysis in TQM models/ methodologies assurance- focused on providing confidence that quality requirements will be fulfilled control- focused on fulfilling quality requirements. correct answer quality assurance vs quality control Authority correct answer legitimate right to make decisions and tell people what to do. avoidance, accommodation, compromise, competing and collaboration correct answer What are the different types of conflict styles? BCG Matrix correct answer One of the most popular techniques for analyzing a corporation's strategy for managing its portfolio is benchmarking correct answer The process of assessing how well one company's basic functions and skills compare with those of another company or set of companies
Bootlegging correct answer unofficial work on projects Bureaucratic , market control and clan control correct answer Characteristics of control Business Strategy correct answer The major actions by which a business competes in a particular industry or market Centralized correct answer decisions are made at higher levels and passed down clan control correct answer involves culture, shared values, beliefs, expectations, and trust. Works best where there is "No one best way" to do a job and employees are empowered to make decisions. cognitive conflict correct answer issue-based differences in perspectives or judgements (Good) commitment, and determination, leadership, opportunity obsession, tolerance of risk, self-reliance, adaptability and motivation to excel. correct answer What are the common characteristics that entrepreneurs posses?
consider the 5 key elements- people, opportunity, the competition, context and the risk. Have the cash to cover start up fees and cover a slow period. Do an opportunity analysis and business plan. correct answer How can entre. increase their chances of success in planning their ventures? continuous process correct answer when a process does not every really stop and most of it is automated core capability correct answer A unique skill and/or knowledge an organization possesses that gives it an edge over competitors corporate strategy correct answer The set of businesses, markets, or industries in which an organization competes and the distribution of resources among those entities create a 2 way exchange so firms have an intimate knowledge of their needs, wants and buying pattern. (cell applications) correct answer How do organizations use CRM tools to understand and meet their needs? creates new ventures inside larger companies correct answer What is intrapreneurship?
culture, values, and compliments correct answer included in the internal environment Decentralized correct answer decisions are made at lower management levels of the org Demings 14 points correct answer emphasized a holistic approach to management that demands intimate understanding of the process for a competitive adv. Demings 14 points, Six Sigma and ISO 9001 correct answer What are the key quality management approaches? devil's advocate correct answer person who has the job of criticizing ideas to ensure that their downsides are fully explored. dialectic correct answer A structured debate comparing two conflicting courses of action. differentiation and integration correct answer what are the two fundamental concepts of an org? Differentiation correct answer the idea that and org. is composed of various units. Diving work into smaller tasks and assigning it to different groups/units
education and communication, participation and involvement, facilitation and support, negotiation and rewards, manipulation and cooptation, explicit and implicit coercion correct answer What are the approaches to gaining cooperation in an organizational change initiatives? Entrepreneur strategy matrix correct answer helps entrepreneurs think about their ventures and decide whether they suit their particular objectives. Ineffective vs. effective strategies. est. valid performance standards provide adequate info to employees ensure acceptability to employees maintaining open communication use multiple approaches correct answer How to design an effective control system Feed forward control correct answer control process used before ops begin, including policies, procedures and rules feed forward, concurrent and feedback control correct answer What are the approaches to bureaucratic control?
feedback control correct answer focuses on the use of information about previous results to correct deviations from the acceptable standard firm infrastructure, HR management, tech dev, and procedure. correct answer what are the support activities in the generic value chain? flexible factories correct answer manufacturing plants that have short production runs are organized around products, and use decentralized scheduling. Force Field Analysis correct answer an approach to implementing the unfreezing/moving/re-freezing model by identifying the forces that prevent people from changing and those that will drive people toward change. forecasting future trends correct answer What is a critical task in environmental analysis Formalization correct answer presence of rules and how regulations governing how people in the org interact Forward - firm gains increased control over it's previous customers (distributors or retailers)
helps organizations be simultaneously responsive and agile correct answer What does lean six sigma do? high involvement org. correct answer top management ensures there is consensus about the direction in which the business is heading human capital correct answer the knowledge, skills, and abilities of employees that have economic value inertia timing surprise peer pressure correct answer general reasons for resistance to change Integration correct answer the extent that these different work units work together in their efforts - coordination is closely related and refers to how the various parts of an org link together to achieve goals integrative approach to management that supports the attainment of customer satisfaction through a wide variety of tools and techniques that result in high quality goods and services. correct answer What is a TQM system?
Internal Resources correct answer strategic planning has been strongly influenced in recent years by a focus on ISO 9001 correct answer series of quality standards developed by a committee working under the International Org. for standardization to improve quality in all businesses for the benefit of producers and consumers. it helps them operate in a more team-oriented manner correct answer How does implementing a TQM system benefit an organization? It is a method to help managers analyze the competitive environment and adapt to or influence the nature of their competition. correct answer What is Porter's Five Forces Model and how is it used in the strategic planning process. job analysis correct answer a tool for determining what is done on a given job and what should be done on that given job job description correct answer the essential tasks, duties, and responsibilities involved in that job job specification correct answer the skills, knowledge, and abilities etc. that are needed to perform the job
macroenvironment and competitive environment correct answer The external environment is made up of market control correct answer uses process competition, profit centers, and exchange relationships. works best where tangible output can be identified and market can be est. between parties. mass customization correct answer when technology is used to customize a product or service for low cost matrix org structure correct answer certain mangers report to two bosses - one in functional area and another in a divisional order to get benefits from both. Mechanistic organization correct answer A form of organization that seeks to maximize internal efficiency mechanistic- seeks to maximize internal efficiency organic- emphasizes flexibility. correct answer What are the differences between mechanistic and organic organizational structure? might not enjoy survival is difficult
growth creates new challenges hard to delegate (giving up control) misuse of funds poor controls (stealing) Morality and succession correct answer what are some of the biggest mistakes/challenges for an entre. Mission correct answer An organization's basic purpose and scope of operations network org. structure correct answer very dynamic that provides the most flexibility. Centered around a network of usually independent entities that collaborate on a contracted project or products basis rather than traditional also called (modular or virtual corp) no barriers to information flow. correct answer What is a boundaryless organization? operational planning correct answer The process of identifying the specific procedures and processes required at lower levels of the organization org chart correct answer the reporting structure and division of labor in an organization - each box represents work performed
rivals, buyers, suppliers, new entrants, substitutes and compliments correct answer included in the competive environment scenario correct answer narrative that describes a particular set of future conditions (different contingency plans to each) Self funding! loans from family and friends loans from bank or financial institution venture capital correct answer What are common ways in which entrepreneurs finance their ventures? self interest misunderstanding different assessments management tactics correct answer change specific reasons for resistance to change sequence of activities that flow from raw materials to the delivery of a good or service, adding value with each step.
Purpose- to pay close attention which enables managers to add customer value + build competitive advantage. correct answer What does the value chain concept mean, and the purpose of the value chain analysis? Situational Analysis correct answer a process planners use, within time and resource constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration Six Sigma correct answer systematically analyzing work processes to identify and eliminate virtually all causes of defects, standardizing the process to reach the lowest practical level of any customer dissatisfaction. Skunkworks (intrapreneurships) correct answer project team designated to produce a new innovative project small business correct answer mom and pop - not innovative Small-batch production correct answer goods or services produced in very low volumes: concept of a job-shop specific, measurable, attainable, relevant, and time-bound correct answer SMART goals
