MGMT 310 Exam 1 questions with
verified solutions
What are the pillars of management? - ANS ✔✔-Strategic Position
-Organizational Design
-Individual Leadership
Management - ANS ✔✔Working with and through a group of people to accomplish a desired
goal or objective, and doing it in an efficient and effective manner
Leadership - ANS ✔✔The ability to drive and change innovation through inspiring and
motivating your employees
What is the difference between leadership and management? - ANS ✔✔Managers plan and
budget, organize and staff, and control and problem solve. Leaders set direction, align people,
and motivate and inspire them
Bureaucratic organization structure - ANS ✔✔Max Weber (1900s)
-A clear differentiation of tasks and responsibilities
-Coordination through strict hierarchy of authority and decision rights
-Standardization of rules and procedures
-Vertical separation of planning and execution
-Plans made in upper ranks of an organization, executed in the lower ranks
Scientific Management - ANS ✔✔(1910s) -- a focus on how jobs, work, and incentive schemes
could be designed to improve productivity using industrial engineering methods
, Human Relations Movement - ANS ✔✔(1930s) -- organizations are systems of interdependent
people who all have a common interest in the survival of the business
Contingent View - ANS ✔✔(1950s-1960s) -- organizations should be structured with
fits/alignments between them and different aspects of their environments, fit contextual factors
How has the purpose of a business changed across time (think Al Dunlap)? - ANS ✔✔- Business
Environment
- Managerial View
- Shareholder View
- Stakeholder View
Managerial view - ANS ✔✔(up to 1960s) -- PRODUCTION -- the business is a mechanism for
making raw materials into products to sell
Shareholder view - ANS ✔✔(1969s-1980s) -- FINANCIAL PERFORMANCE -- the business is a
framework and managers have to produce the highest stock market valuation of its assets
Stakeholder view - ANS ✔✔(since 1990s) -- SERVING MULTIPLE CONSTITUENTS -- the business is
a framework that needs to organize and analyze different groups interacting with it
Business environment - ANS ✔✔the combination of all contextual forces and elements in the
internal/external environments of a business
Stakeholder Management Process - ANS ✔✔-Strategic Review (senior leaders meet with
managers to review progress)
-Environmental Scanning (managers scan business horizon for trends in the future)
verified solutions
What are the pillars of management? - ANS ✔✔-Strategic Position
-Organizational Design
-Individual Leadership
Management - ANS ✔✔Working with and through a group of people to accomplish a desired
goal or objective, and doing it in an efficient and effective manner
Leadership - ANS ✔✔The ability to drive and change innovation through inspiring and
motivating your employees
What is the difference between leadership and management? - ANS ✔✔Managers plan and
budget, organize and staff, and control and problem solve. Leaders set direction, align people,
and motivate and inspire them
Bureaucratic organization structure - ANS ✔✔Max Weber (1900s)
-A clear differentiation of tasks and responsibilities
-Coordination through strict hierarchy of authority and decision rights
-Standardization of rules and procedures
-Vertical separation of planning and execution
-Plans made in upper ranks of an organization, executed in the lower ranks
Scientific Management - ANS ✔✔(1910s) -- a focus on how jobs, work, and incentive schemes
could be designed to improve productivity using industrial engineering methods
, Human Relations Movement - ANS ✔✔(1930s) -- organizations are systems of interdependent
people who all have a common interest in the survival of the business
Contingent View - ANS ✔✔(1950s-1960s) -- organizations should be structured with
fits/alignments between them and different aspects of their environments, fit contextual factors
How has the purpose of a business changed across time (think Al Dunlap)? - ANS ✔✔- Business
Environment
- Managerial View
- Shareholder View
- Stakeholder View
Managerial view - ANS ✔✔(up to 1960s) -- PRODUCTION -- the business is a mechanism for
making raw materials into products to sell
Shareholder view - ANS ✔✔(1969s-1980s) -- FINANCIAL PERFORMANCE -- the business is a
framework and managers have to produce the highest stock market valuation of its assets
Stakeholder view - ANS ✔✔(since 1990s) -- SERVING MULTIPLE CONSTITUENTS -- the business is
a framework that needs to organize and analyze different groups interacting with it
Business environment - ANS ✔✔the combination of all contextual forces and elements in the
internal/external environments of a business
Stakeholder Management Process - ANS ✔✔-Strategic Review (senior leaders meet with
managers to review progress)
-Environmental Scanning (managers scan business horizon for trends in the future)
