Schermerhorn Chapter 1- Intro To Management

Question 1

What do companies with a future offer?

Answer 1

• Commitment to people
• Inspirational leadership
• Respect and rewards for contributors/employees

Question 2

What is intellectual capital

Answer 2

Intellectual capital is the collective brainpower or shared knowledge of a workforce that can be used to create value

Question 3

What is diversity. Comment on it

Answer 3

Workforce diversity reflects differences with respect to gender, age, race, ethnicity, religion, sexual orientation, and ablebodiedness.

A diverse and multicultural workforce both challenges and offers opportunities to employers.

Many call diversity a “business imperative” and view it as an asset

Question 4

Name 3 modes of diversity bias

Answer 4

• Prejudice
• Discrimination
• Glass ceiling effect

Question 5

What is globalization?

Answer 5

Globalization is the worldwide interdependence of resource flows, product markets, and business competition that characterize the new economy

Question 6

Name 3 types or forms of technology that have influenced world business

Answer 6

Internet of things- Network of connected machines enabling automatic responses/adjustment/measurements/feedback

Telecommuting, video conference calling etc. changing communication landscape

Information Technology- Advent of the Big Data Age enables new opportunities and strategy

Question 7

Name 3 modern ethical responsibilities of companies

Answer 7

Integrity at all levels

Sustainable development (environmental consideration)

Consumer protection and respect for human rights of employees (Sweat shops? In MY third world country? Its more likely than you may think. Ask your doctor.)

Question 8

Name 3 different types of employment

Answer 8

Full time, part time, contract

Question 9

What is an organization

Answer 9

A collection of people working together to achieve a common purpose.
Organizations provide useful goods and/or services that return value to society and satisfy customer needs

Question 10

What are 5 resources an organization may take as an INPUT in the process of producing OUTPUT?

Answer 10

INPUT- 5M’s

• Manpower //People
• Machines // Technology
• Materials //
• Money //
• Methods // Information

OUTPUT-

Finished goods and services

Question 11

What is the definition of productivity?

Answer 11

Prod.=Output/input

Question 12

Compare performance effectiveness vs performance efficiency

Answer 12

P effectiveness: An OUTPUT measure of task/goal accomplishment

P efficiency: An INPUT measure of resource costs associated with goal accomplishment

Question 13

What are 3 changes to workplace environment that provides context for studying management?

Answer 13

Prioritization of sustainability

Valuing human capital

Preeminence of technology

Question 14

Name 3 different ‘environments’ an organization functions within

Answer 14

Legal-Political environment
Economic environment
Natural Environment
Socio-Cultural environment
Technological environment

Question 15

Names 5 potential stakeholders in an organizations business

Answer 15

• Union leaders
• Competitors
• Employees
• Suppliers
• Political parties
• Shareholders
• govt. institutions

Question 16

Name 3 ways of achieving a competetive advantage

Answer 16

• Cost efficiency
• Higher quality
• Better delivery
• Greater flexibility

Question 17

What are two degrees of uncertainty in an organizational environment

Answer 17

• Rate of Change in the environment

- Degree of Complexity of environment

Question 18

Comment on what a good manager do

Answer 18

directly support and help activate the work efforts and performance accomplishments of others.
The people who managers help are the ones whose tasks represent the real work of the organization

Question 19

Name 3 levels of management

Answer 19

Top managers. Responsible for company performance as whole
Middle Managers- In charge of relatively large departments/divisions
Team leaders or supervisors- In charge of small groups

Question 20

Name 3 TYPES of managers

Answer 20

Line managers are responsible for work activities that directly affect organization’s outputs.
Staff managers use technical expertise to advise and support the efforts of line workers.
Functional managers are responsible for a single area of activity.
General managers are responsible for more complex units that include many functional areas.
Administrators work in public and nonprofit organizations.

Question 21

What is QWL? What are its indicators?

Answer 21

-Quality of Work Life
Good quality indicated by:

Fair pay
Safe working conditions
Opportunities to learn/use new skills
Room to grow and progress
Protection of individual rights
Pride in work and organization

Question 22

name 3 marks of a good manager

Answer 22

• Well informed of teams needs
• Works alongside those they supervise
• Provide advice and develop support for team
• Help people perform

Question 23

What are the 4 Functions of Management?

Answer 23

Acronym: CLOP

Controlling: Measuring performance and taking action to ensure desired results

Leading: Inspiring people to work hard to achieve high performance

Organizing: Arranging tasks, people, and other resources to accomplish the work

Planning: Setting performance objectives and deciding how to achieve them

Question 24

Name 3 categories of managerial activities and roles

Answer 24

Informational
Interpersonal
Decisional

Question 25

Name the 3 critical skills for a manager

Answer 25

Conceptual Skills-Analytical thinking and such. Greater need at top level

Human skills- The ability to work well and cooperate with other people

Technical skills- The ability to apply expertise and perform a task

Question 26

Describe the learning model

Answer 26

3 Stages:
1/Commitment to experience and self assessment
        - Learning from others
         -Learning from self
2/Inquiry and Reflection
         -Real-life examples
         -Research brief
3/Analysis and Application
          -Real ethics
          - Issues and situation