PRINCIPLES OF MANAGEMENT FINAL
EXAM REVIEW QUESTIONS &
VERIFIED CORRECT ANSWERS ALL
PASSED
Factors that make up an organization's Specific environment - Customers, Suppliers,
Pressure Groups
Management - process completed EFFICIENTLY & EFFECTIVELY through people.
Efficiency - Costs, outputs to inputs
Effectiveness - goal attainment
Functions of Management - 1) Planning
2) Organizing
3) Leading
4) Controlling
5) Staffing
Elasticity of Demand - Elastic: sensitive to price, Inelastic: insensitive to price
Adam Smith - Wealth of nations, division of labor, Pin Factory
F.W. Taylor - Pig Iron Study, Father of Scientific Management
Fayol's Principles of Management - 1) Unity of Command
2) Division of Work
3) Unity of goals
4) Discipline
5) Delegation of A&R
6) Chain of Command
7) Use inductive reasoning
8) Don't use deductive reasoning
9) Calm respondents down
10) Get it in writing
Gilbreth's Study - Laying Bricks study, Basic hand motions, "Therbligs"
Graicunas Theory - No more than 5 vice presidents
, Hawthorne Study - Effects of illumination, group behavior
Contingency Variables - Size of organization, individual differences, environmental
uncertainty
Kaisan - TQM Theory
Andrew Carnegie - U.S. Steel, Sold JP Morgan for $14 Billion, "Gospel of Wealth"
Munzterburg - Father of Industrial Psychology, people at work
Behavorial Theorists - Bernard, Follett, Muntzerburg, Owen
Mary Follett - Human Relations increases productivity
Robert Owen - Factories w/ Stores, deplorable working conditions
External Environment - Outside the organization, omnipotent v symbolic management
Omnipotent View of management - Managers directly responsible for success/failure (all
powerful)
Symbolic View of Management - External factors responsible for success/failure,
managers are limited
Organizational Culture - How members PERCEIVE the organization
Spiritual Organizational Culture - Values purpose through meaningful work.
Workplace Spirituality - 1) Important in Contemporary Workplace 2) restores sense of
Community
Sociocultural conditions - changing expectations and values
Countries not in EMU - England, Poland, Denmark
EMU - Economic & Monetary Union
Joint Ventures - Strategic alliance that prevents nationalization. Citizens own 51% of the
stock
ASEAN - Association of Southeast Asian Nations
1) Brunei
2) Singapore
3) Laos
(NOT Japan)
EXAM REVIEW QUESTIONS &
VERIFIED CORRECT ANSWERS ALL
PASSED
Factors that make up an organization's Specific environment - Customers, Suppliers,
Pressure Groups
Management - process completed EFFICIENTLY & EFFECTIVELY through people.
Efficiency - Costs, outputs to inputs
Effectiveness - goal attainment
Functions of Management - 1) Planning
2) Organizing
3) Leading
4) Controlling
5) Staffing
Elasticity of Demand - Elastic: sensitive to price, Inelastic: insensitive to price
Adam Smith - Wealth of nations, division of labor, Pin Factory
F.W. Taylor - Pig Iron Study, Father of Scientific Management
Fayol's Principles of Management - 1) Unity of Command
2) Division of Work
3) Unity of goals
4) Discipline
5) Delegation of A&R
6) Chain of Command
7) Use inductive reasoning
8) Don't use deductive reasoning
9) Calm respondents down
10) Get it in writing
Gilbreth's Study - Laying Bricks study, Basic hand motions, "Therbligs"
Graicunas Theory - No more than 5 vice presidents
, Hawthorne Study - Effects of illumination, group behavior
Contingency Variables - Size of organization, individual differences, environmental
uncertainty
Kaisan - TQM Theory
Andrew Carnegie - U.S. Steel, Sold JP Morgan for $14 Billion, "Gospel of Wealth"
Munzterburg - Father of Industrial Psychology, people at work
Behavorial Theorists - Bernard, Follett, Muntzerburg, Owen
Mary Follett - Human Relations increases productivity
Robert Owen - Factories w/ Stores, deplorable working conditions
External Environment - Outside the organization, omnipotent v symbolic management
Omnipotent View of management - Managers directly responsible for success/failure (all
powerful)
Symbolic View of Management - External factors responsible for success/failure,
managers are limited
Organizational Culture - How members PERCEIVE the organization
Spiritual Organizational Culture - Values purpose through meaningful work.
Workplace Spirituality - 1) Important in Contemporary Workplace 2) restores sense of
Community
Sociocultural conditions - changing expectations and values
Countries not in EMU - England, Poland, Denmark
EMU - Economic & Monetary Union
Joint Ventures - Strategic alliance that prevents nationalization. Citizens own 51% of the
stock
ASEAN - Association of Southeast Asian Nations
1) Brunei
2) Singapore
3) Laos
(NOT Japan)
