MGMT 300 Final Exam Questions and Answers Latest Update 2025

MGMT 300 Final Exam Questions and Answers Latest Update 2025 Organizing - Answers -the deployment of organizational resources to achieve strategic goals -Important because it flows from strategy −Strategy: what to do −Organizing: how to do it Organization Structure - Answers -Set of formal tasks assigned to individuals and departments -Shows formal reporting relationships -Design of systems to ensure coordination of employees across departments Organization Chart - Answers Visual representation of an organization's structure Divison of labor - Answers -Division of organizational tasks into separate jobs -Losing popularity; too much specialization leads to employee isolation and boredom Chain of command - Answers Links all employees in an organization and shows who reports to whom Authority - Answers -is the formal and legitimate right of a manager to make decisions, issue orders, and allocate resources to achieve goals Vested in position, not person Flows down the hierarchy Is accepted by subordinates Responsibility - Answers the duty to perform the task or activity as assigned Accountability - Answers the mechanism through which authority and responsibility are aligned Delegation - Answers the process to transfer authority and responsibility down the hierarchy Span of Management - Answers refers to the number of employees reporting to a supervisor •Tall structures are narrow in span and have many hierarchical levels •Flat structures are wide in span and have few hierarchical levels A common problem is having an organization with too many levels with a span that is too narrow Centralization - Answers decision-making authority is located near the top of the organization Decentralization - Answers decision-making authority is pushed downward to lower organization levels Factors that influence whether to centralize or decentralize - Answers •Rapid change and uncertainty in the environment are associated with decentralization - enables flexibility and faster reaction •Fit to the firm's strategy: cost leadership or differentiation •Crisis management requires centralization Departmentaliztion - Answers grouping of positions into departments, and departments into the total organization Five main approaches: −Functional −Divisional −Matrix −Team −Virtual Network Functional Strucutre - Answers -Groups activities by function from the bottom to the top of the organization Positions are grouped into departments based on similar skills, expertise, work activities, and resource use Divisional Structure - Answers -Departments grouped together based on similar organizational outputs Geographic or Customer-based divisions •Focuses company activities on local market conditions •Competitive advantage: selling a product adapted to a given country Matrix Structure - Answers Combines both functional and divisional approaches simultaneously Improves coordination and information Dual lines of authority make the matrix unique Can be difficult to manage due to dual-reporting lines Team Structures - Answers Cross-functional teams: employees from various functional departments are responsible to meet as a team and resolve mutual problems Permanent teams: employees are organized in a way similar to formal departments Team-based structure: entire organization is made up of horizontal teams that coordinate with each other and work directly with customers to accomplish goals Virtual Network Structure - Answers Recall outsourcing: the farming out of certain activities, such as manufacturing or credit processing In a Virtual Network structure, the firm subcontracts major functions to outside companies and coordinates their activities from a small organization at headquarters Task Force - Answers temporary team or committee designed to solve a problem involving several departments Project Manager - Answers responsible for coordinating the activities for the completion of a specific project •Project Manager is not a member of one of the departments being coordinated Structure Follows Strategy - Answers -Business performance is influenced by how well structure is aligned with strategy and the needs of the general environment