principles of management

Question 1

normative vs positive theory

Answer 1

normative: value judment, what is right and wrong
positiv: how it really is

Question 2

need want demand

Answer 2

need thirsty
want cola
demand want + purchasing power

Question 3

market

Answer 3

place where seller and buyer meet with intention of doing business
forces of supply and demand meet

Question 4

marshalls cross

Answer 4

x quantity y price
if y decreases x increases
if y increases supply increases
always strive for equilibrium

Question 5

market economy vs state directed economy

Answer 5

market: individuals responsible for actions

state directed: collective vory responsible for collective decision

Question 6

management skills

Answer 6

technical: monitoring, system analysis
social: make people do what you want them to
conceptual: transfer complex problems into management concepts

Question 7

german speaking way vs english

Answer 7

german:
porphyrian tree (knowledge organisation, one assumption at top beneath derived from this one)
english:
see a problem and organize your knowledge to solve it

Question 8

classical liberalism representatives

Answer 8

adam smith
jean baptiste say
david ricardo
thomas robert malthus
friedrich list
johann heinrich von thüne

Question 9

adam smith

Answer 9

founder of classical liberalism

government should not intervene, economy works on its own

Question 10

jean baptiste say

Answer 10

says law: products are paid for with product
only produce something to buy something else —> demand and supply in equilibrium
today safe money not spend directly —> doesn‘t work

Question 11

david ricardo

Answer 11

comparative advantage

Question 12

thomas malthus

Answer 12

population grows more than food production
decrease gap:
preventice checks (one child policy)
positive check: god given natural disaster

Question 13

friedrich list

Answer 13

only trade with other countries if you are a developed country otherwise can not handle price pressure
market has to be big enough for product otherwise high costs

Question 14

thünen

Answer 14

thünens rings

character of profits sold depending on distance of production site to place where it is sold

Question 15

management-new challenges

Answer 15

personal communication not enough to coordinate anymore
bigger companies
higher specialisation

Question 16

taylorism

Answer 16

scientific management (efficiency movement)
government is riddled with inefficiency
-workers have only physical and economical needs
-workers don‘t want to be efficient because efficiency means less workers more machine, keep own interedt by being inefficient

solutions

• develop one way of doing something
• select train and develope workers
• split responsibility (taken away from worker)
• workers should only do one task

Question 17

marginal school of management

Answer 17

marginal utility: utility form consuming one more product
marginal revenue: revenue from selling one more
marginal costs: costs from producing one more product
marginal product: additional output from 1 additional input

Question 18

keynism

Answer 18

basic idea:
in good time government should not intervene but in bad it should
-in regression increase government spending because people do not spend enough because no money
-problem: hard to decrease allowances, tax reduction etc afterwards as people got used to it

Question 19

social market economy

Answer 19

way in between
production is liberal, distribution under government control
acticr measures to help poor: more tax for richer

Question 20

henry fayol

Answer 20

technical
accounting
commercial
security
financial
management 
-planning
-organising
-directing 
-coordination 
-monitoring

Question 21

henry fayol- principles

Answer 21

division of work (same effort more efficient)
unity of command (only one subordinate)
esprit de corp (teamwork fundamental)

Question 22

gulick on basis of fayol

Answer 22

• planning, organising, staffing
• directing
• coordinating
• reporting
• budgeting

Question 23

fayol vs taylor

Answer 23

fayol wider horizon not just money or equity into consideration
-for taylor human is a machine and informal organizations not considered

Question 24

two parts of neoclassical theory

Answer 24

human relations - roethlsbergers hawthorn and mayo

behaviourial management theory

Question 25

hawthorn experiments and effect

Answer 25

- illumination (effect of light on productivity) - interviews (learn about attitudes) - relay-assembly test (effect of breaks) - bank wiring test (influence of relationships) effect: manipulating your own behaviour when being observed to meet social acceptable opinions

Question 26

behavioural management theory

Answer 26

only fulfill psychological needs to reach economic target | in favour of: flexible orgas, job build around capabilities

Question 27

maslows hierarchy of needs

Answer 27

very bottom needs to survive and only if needs met you can go to next layer and fullfill those —> bullshit also a starving person wants love

Question 28

two factor theory

Answer 28

if demotivators are eliminated motivaters can lead to job satisfaction

Question 29

contemporary school of management theories

Answer 29

quantitative theory contingency theory qualtiative theory system-theoretical approach

Question 30

quantitative school of management

Answer 30

use quantitative methods to help with management decisions

Question 31

contingency school of management

Answer 31

everything depends there is not one right way

Question 32

qualitative school of management

Answer 32

concentrate on improvement and qualtiy of goods and services employee work in a team in an environment of openess and trust kaizen: change for the better learn from mistakes to improve reengineering approach big radical changes very expensive in short run

Question 33

system theoratical school of management

Answer 33

organizations are open systems that always interact with environment input trhoughput output feedback

Question 34

modern management tools

Answer 34

management by objectives balanced score cart porters five forces value chain analysis

Question 35

management by objectives

Answer 35

set objectices and goals together with employee by applying smart criteria - more motivation of employees - more pressure to perform

Question 36

balanced score card

Answer 36

financial view not enough | -customer, learning and growth, internal business processes

Question 37

what do managers do -mintzberg (folklore and fact)

Answer 37

``` less planning than fayol says more acting no system in managers tasks 3 roles interpersonal -figurehead (representative) -leader (hiring and training) -laison (networking) ``` informational - monitor (scan for info) - disseminator (tell organisation) - spokesperson (official statements) decisional - entrepreneur (initiate change) - disturbance handler - resource allocator - negotiator

Question 38

what do managers to tengblad

Answer 38

10 out of 13 propostions of mintzberg still valid but meetings with subordinates and workload and transportation time increased while desk work, meetings with supplier and clients decreased

Question 39

what do managers do john kotter

Answer 39

agenda setting and networking

Question 40

general managers john kotter

Answer 40

``` general managers often highle specialised have skills in common: motivated desire for status skill for developing relationships intuition analytical skills ```

Question 41

what skills do managers need katz

Answer 41

``` technical skill (understanding activities) human skill (communicate, work in team) conceptual skill (solve complex problems) ```

Question 42

what skills do managers need gosling and mintzberg

Answer 42

``` reflectice - manage yourself analytic - manage orga collaborative - manage relationships action - manage change worldy - manage world beyond your kwn ```

Question 43

managers vs leader abraham zaleznik

Answer 43

manager: impersonal, passive, reaches target but not because he wants, takes compromises, no risk, part of organisation leader: acitve, personal, takes risk, tries new approaches, seperate from orga

Question 44

what makes a leader goleman

Answer 44

``` self reflection self regilation empathy social skill motivation ```

Question 45

classical school criticism

Answer 45

one set of principles can not manage all orgas | assumption that people only motivated by economic award not appropriate anymore