Management Approaches
Management Process
Management Process again
Bonus Points
Lucky Dip
100

A leadership style (hint not approach) where the manager consults with employees to ask their suggestions and then seriously considers those suggestions when making decisions 

participative or democratic leadership style

(a feature of the behavioural management approach)

100

The resources used in the transformation process are called:

Inputs

100

Who am I? 

After the target market is identified, I am the FOUR strategies that can be implemented by marketing.

Product

Price

Place 

Promotion

100

Who am I? 


Opening Balance

+ Cash In

- Cash Out

= Closing Balance 

BONUS POINTS (150): What financial product could I use if there my forcast tells me there will be a negative cash balance in June

Cash Flow Statement

Overdraft (Bonus 150)

100

Which Marketing Strategy?


The methods used by a business to inform, persuade and remind customers about its products.

Promotion

200
Which TWO are NOT true of a behavioural managment approach


Flatter organsational structure

Management as planning, organising and controlling

Teamwork

Many rules and procedures

Less layers of management

Shared decision making 

Management as planning, organising and controlling

Many rules and procedures 

200

Who am I? 

1. The use of a system so that a business achieves set standards in production 

2. Give an example of how I could operate in a business.

Quality Assurance


Australian Stanards for Bike Helmets

ISO Standardss for Car Seats

Food Standards Australia/NZ

200

Who am I? 

Opening stock + Purchases - Closing Stock

OPP-C

BONUS POINTS 

1. Which financial statement (100 points)

2. Give an example (200 points)

COGS

Income Statement (bonus 100)

Example e.g. a small business sells wooden furniture.  The cost of goods sold is the cost of the wood and nails.  This is different to expenses which include fixed costs (such as rent) and variable costs (such as wages and advertising). 

200

The four strategies of human resources can implement are:

–        recruitment   

–       ____________________

–        employment contracts   

–        _______________ – voluntary/involuntary   

training

Separation

200

A product is a combination of _______ and ______ variables including: 

  • b_____________

  • p_________

Tangible

intangible

branding

Packaging

300

The _________________ management aproach is 

  • management as planning, organising and _________

  • _______________ organisational structure

  • ______________ leadership style

controlling

hierarchical

autocratic

300

I am a financial statement that tells the business how much they own and owe at a point in time.  

BONUS POINTS: 200 - Tell me the formula for this financial statement.

Balance Sheet

Assets = Liability + (owners) equity

300

Who am I? 

I am the key business function that effectively manages the formal relationship between employee and employer.  

Human Resources

300

The most common reason employees may be restitance to change are: 

Financial costs

Purchasing new equipment

Redundancy payments

Retraining

Reorganising Plant and Equipment 

Inertia

Which are the financial reasons?

Which are psychological reaons?

BONUS POINTS: EXPLAIN INERTIA (100 POINTS)

All financial except Inertia


Answers may include Inertia is - fear of change/ unethusiastic response to change; employees fear lack of control fear of the unknownit can lead to anxiety.

300

I am a summary of the revenue earned and the _________ incurred over a period trading and I show how much ____________ has been made .  I am called an _______________ statement

expenses

profit

income

400

The syllabus lists the following for the behavioural managment approach

  • management as _________, motivating, ___________

  • _______

  • participative/______________leadership style


Leading

Communicating

Teams

Democratic

400

Which TWO are FALSE

a. Transformed resources are customers, materials, quality,  information

B. Transforming resources are human resources, materials, information

C.Transforming resources are facilities and human resources 

D. The transformation process is the conversion of inputs into outputs during the production process

A

B

400

The four common ways to segment a market

Hint: DGPB

Demographic (population characteristics e.g. age, gender)

Geographic (where people live)

Psychographic (personality characteristics)

Behavioural (loyalty to a product)

400

Teaching staff to perform their current job more efficiently and effectively by boosting their knowledge and skills is called ________________.  (BONUS 100 POINTS FOR EXAMPLE)

Preparing employees to take on more resonsibility in the future is called __________________  (BONUS 100 POINTS FOR EXAMPLE)

Training


Development

400

____________ refers to the process of recruiting the right staff for roles in a business 

The first stage is ____________ which  involves analysing the job and preparing a job description.

Then _______________ commences to find the right people to apply for the job.

Employee ______________ is the means by which the employer can choose the most suitable applicant for the vacancy 

Acquisition

Planning

Recruitment

Selection

500

1. I am a management approach tha stresses the need for flexibility and adaptation of management practices and ideas to suit changing circumstances?

2.  I am an approach where there is often less job satisfaction that can lead to increased turnover

3.  I am an approach where adapting to constant changes in the environment can be challenging for management

4. I am an appraoch where a disadvantage is lack of control 

5. I am an approach which can lead to improved efficiency and productivity

1.contingency

2. classical

3. contingency

4. behavioural

5. classical

500

Quality improvment focuses on 

1. ________________ - a commitment to _____________ that emphasises continuous improvement in all aspects operations by sharing responsibility among ____________

2. ______________________ a process that involves a constant evaluation of, and improvement in, the way things are done. Higher and higher standards are set in the continual pursuit of improvement._______ (Japanese for ‘improvement’) emphasises continuous improvement in all facets of a business

Total Quality Managment 

Excellence

Employees

Continuous Improvement

Kaizen

500

Which Promotion strategy?

1. 25% off 

2. Cotton on Perks

3. I get commission for selling you TV's at JB Hi Fi

4. a newspaper writes an article about the new McFlurry Coke. 

5. The Lion King Musical at the Civic Theatre on a billboard

1. sales promotion

2. Relationship marketing

3. Personal Selling

4. Publicity

5. Advertising

500

What are the FIVE Promotion Strategies 

AND BONUS POINTS  - Give an example of each (100 bonus for each correct example)

Sales promotion

Advertising

Personal Selling

Relationship Marketing

Publicity and Public Relations

500

A business has 

_______________ for Kye's Kandy


Revenue  $30,000

COGS      $10,000

Net Profit  _____________

Expenses  _____________

Gross Profit $6,000

1. Income Statement

2. GP =  Revenue - COGS

So, $20,000

3. Expenses = $14,000 (as NP - E = GP)