ARE 112 Final Questions and Answers 100% Correct!

Optimizing and Satisficing - ANSWER--organizations exist to achieve a goal by either optimizing or satisfying MECE - ANSWER--Mutually Exclusive: each issue is separate and distinct -Collectively Exhaustive: every aspect comes under only one issue Herbert Simon - ANSWER-Bound rationality: the ability to make decisions is limited by a number of factors (cognitive limitations, time available, etc.) Classical Management? Types & founders? - ANSWER--Careful selection and training of workers -All started with the industrial revolution - Types: Scientific method, Bureaucracy, Administration of the firm (Anthony's management hierarchy) Frederick Taylor - ANSWER-*Scientific management* - Design jobs with standards leading to efficiency - Support workers by planning their work - Standardization of the work force makes workers as efficient as a machine -Plans it so it works like an assembly line Max Weber - ANSWER-*Bureaucracy* (logic, order, and legitimate authority, not an organization based on social standing) -Division of labor -Hierarchy of authority -Formal rules -Impersonality -Promotion on merit Henri Fayol - ANSWER-*Administration* -The A in MBA (master in business administration) -Administration = management -Planning, Organizing, Command, Coordination, Control -Unity of command: no one has more than one boss Anthony's Management Hierarchy - ANSWER-*Executives:* strategic planning *Managers:* management control *Supervisors :* operational control *Workers:* doing the actual work Behavioral School of Management - ANSWER--an attempt to increase production by understanding people as it is easier to change the organization than change the people -American centric idea