MADM 701 - Module 1 Exam Questions
and Answers
Human Capital - Answers -What you know - (education, experience, skills)
Social Capital - Answers -Who you know - (networks, connections, friends)
Positive psychological capital - Answers -Who you are (confidence, hope, optimism,
resiliency
Who can you become (one's positive authentic self)
Challenges Facing Management: - Answers -o In the recent past, employees were
costs.
o Objectives were to minimize, downsize, international competition, mergers, etc.
o More focused on financials than employees
o "work is crucial to every adult human because work holds within it the soul of the
relationship of one citizen to one government and one country"
Employees still have the desire for a "good job"
Undergoing the Paradigm Shift: - Answers -o The paradigm establishes the boundaries
and rules of how to behave to be successful
o "blend of traditionally trained baby boomers, in-your-face Gen Xers, people with
inadequate literacy skills from disadvantaged areas, and techies raised on computers"
has led to a paradigm shift
Paradigm effect - a situation arises in which those in the existing paradigm may not
even see the changes that are occurring, let alone reason and draw logical inferences
and perceptions about the changes
Three dimensions of management - Answers -Technical, conceptual, and human
Theory X - Answers -o Employees were basically lazy and they are only interested in
money. If you could make them happy they would be high performers. (good pay, job
security, good working conditions)
o Theory X is becoming obsolete.
Technical (Management Dimension) - Answers -o Technical - expertise in accounting /
engineering / marketing / information technology
"1/8th Theory" - Answers -Only about 1/8th of today's organizations believe it, do it, and
stick with it (the "3 its")
, Five sources that seem to prevent the majority of managers from effective
implementation and sustainability: - Answers -§ Hollow talk
§ Debilitating fear
§ Destructive internal competition
§ Poorly designed and complex measurement systems
§ Mindless reliance on precedent
Evidence-Based Management (EBM) - Answers -Most companies talk about what
should be done, while others act on it. Those that act based on what should be done.
o The gap between research and utilization is widening
o The bridge to help close the theory/research-practice gap must be built from both
sides, practice and academic
o EBM = translating principles based on best evidence into organizational practices
Practitioner-Scientist vs Scientist-Practitioner.
1980-1990's Managers - Answers -· Restructuring Organization to improve
· Productivity
· Competitive Challenges
· International Marketplace
· Quality Expectations of Customers
§ Conclusion (Lean & Mean)
· Short-Run Benefits
· Lowered Costs
· Improved Productivity
1995-2005 Fortune 500 Firms - Answers -· Initiatives To
· Restructure (Down sizing)
· Cost Reduction Programs
· Globalizing Supply Chains
· Creating Shared Services
· Lean Six Sigma
· Quality Programs
· Management Compensation
· Tied To
§ Stock Options
§ Stock Price
§ High Risk Mergers
§ Acquisitions
§ Regulation
§ Winner Take All Environment
· Conclusion
· Financial Crisis
and Answers
Human Capital - Answers -What you know - (education, experience, skills)
Social Capital - Answers -Who you know - (networks, connections, friends)
Positive psychological capital - Answers -Who you are (confidence, hope, optimism,
resiliency
Who can you become (one's positive authentic self)
Challenges Facing Management: - Answers -o In the recent past, employees were
costs.
o Objectives were to minimize, downsize, international competition, mergers, etc.
o More focused on financials than employees
o "work is crucial to every adult human because work holds within it the soul of the
relationship of one citizen to one government and one country"
Employees still have the desire for a "good job"
Undergoing the Paradigm Shift: - Answers -o The paradigm establishes the boundaries
and rules of how to behave to be successful
o "blend of traditionally trained baby boomers, in-your-face Gen Xers, people with
inadequate literacy skills from disadvantaged areas, and techies raised on computers"
has led to a paradigm shift
Paradigm effect - a situation arises in which those in the existing paradigm may not
even see the changes that are occurring, let alone reason and draw logical inferences
and perceptions about the changes
Three dimensions of management - Answers -Technical, conceptual, and human
Theory X - Answers -o Employees were basically lazy and they are only interested in
money. If you could make them happy they would be high performers. (good pay, job
security, good working conditions)
o Theory X is becoming obsolete.
Technical (Management Dimension) - Answers -o Technical - expertise in accounting /
engineering / marketing / information technology
"1/8th Theory" - Answers -Only about 1/8th of today's organizations believe it, do it, and
stick with it (the "3 its")
, Five sources that seem to prevent the majority of managers from effective
implementation and sustainability: - Answers -§ Hollow talk
§ Debilitating fear
§ Destructive internal competition
§ Poorly designed and complex measurement systems
§ Mindless reliance on precedent
Evidence-Based Management (EBM) - Answers -Most companies talk about what
should be done, while others act on it. Those that act based on what should be done.
o The gap between research and utilization is widening
o The bridge to help close the theory/research-practice gap must be built from both
sides, practice and academic
o EBM = translating principles based on best evidence into organizational practices
Practitioner-Scientist vs Scientist-Practitioner.
1980-1990's Managers - Answers -· Restructuring Organization to improve
· Productivity
· Competitive Challenges
· International Marketplace
· Quality Expectations of Customers
§ Conclusion (Lean & Mean)
· Short-Run Benefits
· Lowered Costs
· Improved Productivity
1995-2005 Fortune 500 Firms - Answers -· Initiatives To
· Restructure (Down sizing)
· Cost Reduction Programs
· Globalizing Supply Chains
· Creating Shared Services
· Lean Six Sigma
· Quality Programs
· Management Compensation
· Tied To
§ Stock Options
§ Stock Price
§ High Risk Mergers
§ Acquisitions
§ Regulation
§ Winner Take All Environment
· Conclusion
· Financial Crisis
