Management Environment
__________________ is an innovation that redefines industry standards.
Disruptive Innovation (Business Models and Technological)
Mulally's One Ford Plan was an example of which of the four management functions?
Planning
Which decision making model is considered the best or "perfect" approach to making decisions?
Rational Model
What are the five characteristics of a SMART goal?
Specific
Measureable
Attainable
Relevant
Time Bound
What is an ethical dilemma?
A decision involving two competing but arguably valid options
Why is a collaboration mindset important in today's competitive environment?
Which management function involves monitoring performance and making necessary changes?
Controlling
The Fort Lewis Business Club is trying to determine what they should do for an annual fundraiser. They go through a few alternatives and rule each one out quickly. Eventually a person mentions a bake sale, and everyone quickly agrees. In this example the group demonstrating _________.
Satisfying
Fort Lewis has the following performance target:
Increase faculty-based community/scientific/economic partnerships by 30%.
Which characteristic of a SMART goal is it lacking?
Time Bound
According to a recent survey by BizMag.com, more than 60 percent of all employees believe that pilfering office supplies for personal use is acceptable. Which of the following statements is true in this scenario?
A) The magnitude of the consequence is high.
B) The concentration of effect is high.
C) There is a high degree of social consensus.
D) The probability of effect is high.
C) There is a high degree of social consensus.
When firms have created a value-adding strategy that rivals find too difficulty or too costly to imitate they have obtained a ________________.
Competitive Advantage (May be measured based on stock price compared to peers or accounting returns compared to peers)
Gerard is a general manager for Handy Dandy Corp., a tool-manufacturing firm. He is considering some changes to the production floor, which include layout adjustments and the purchase of new equipment to improve efficiency. He also wants to promote one of his employees to team leader. Which functions of management is Gerard performing?
Organizing
When an individual is making a decision about something, but they compare every alternative they consider to their favorite option, they are using which decision making model?
Implicit Favorite Model
What are the three levels of planning and who is involved in each?
1. Strategic - Top Management
2. Tactical - Middle-level Management
3. Operational - Middle-level and Frontline Managers
In regards to the 2008 financial crisis, some analysts have argued that Wall Street felt a disconnect between their actions and the people they were impacting because of the physical and psychological distance between themselves and those impacted. Which moral intensity factor does this represent?
Proximity
What were the three traditional methods that companies used to be successful?
1. Cost Efficiency
2. Quality
3. Protecting and Leveraging Existing Resources
Which of the three types of skills remains extremely important for managerial success regardless of an individuals level in the organization?
Interpersonal
As I was attempting to select a textbook for this class, I first reviewed the Bateman textbook and thought the concepts were closely aligned with my teaching goals. I looked at several other books but for whatever reason, none seemed to compare to the first book I examined. Which bias was I most likely experiencing?
Anchoring Bias
Which perspective in the Balanced Scorecard would the following goal be associated with?
Increase production efficiency and decrease manufacturing defects.
Internal Perspective
Provide on example of how those individuals involved in the 2008 might have rationalized that they have implied permission to act in unethical ways.
Lack of regulation; bosses were rewarding behaviors
Quicken Loans launched Rocket Mortgage--their "fast, powerful and completely online method to obtain a mortgage." Based on this, which method of achieving competitive advantage is Quicken using?
Speed
Clayton supervises the shipping department of a book printer. He contacts trucking companies to arrange pickups, and he makes sure that his team members load cartons onto the correct trucks. Is Clayton a top level manager, middle level manager or frontline manager?
Frontline
The Fort Lewis Business Club is trying to determine what they should do for an annual fundraiser. Johnny suggests a bake sale. He is popular in with the club members and no one wants to go against his idea. Is this an individual, group, or organizational level decision making error?
Group
Which perspective in the Balanced Scorecard would the following goal be associated with?
Increase employees technological skills.
Learning and Growth Perspective
Norman is a stickler for following the rules because he is sure he will be caught and punished if he doesn't. What is Norman's level of moral development?
Pre-conventional Level