DTR EXAM: MANAGEMENT PRINCIPLES AND
FUNCTIONS
Describe the following terms:
Laissez-Faire Management Style
Open-Door Policy - Answers :Laissez-Faire Management Style:
Management approach in which team members are not directed by management. Little
information flows from the team to the manager, or vice versa. This style is appropriate
if the team is highly skilled and knowledgeable and wants no interference by the
manager.
Open-Door Policy:
Management approach that encourages employees to speak freely and regularly to
management regarding any aspect of the business or product. Adopted to promote the
open flow of communication and to increase the success of business operations or
project performance by soliciting the ideas of employees. Tends to minimize personnel
problems and employee dissatisfaction.
Describe the following terms:
Authoritarian Management Style
Autocratic Management Style - Answers :Authoritarian Management Style:
Management approach in which the manager tells team what is expected of them,
provides specific guidance on what should be done, makes his or her role within the
team understood, schedules work, and directs team members to follow standard rules
and regulations.
Autocratic Management Style:
Management approach in which the manager makes all decisions and exercises tight
control over the team. This style is characterized by communications from the manager
downward to the team and not vice versa.
Describe the following terms:
Organizational Chart
Organizational Breakdown Structure (OBS)
Outsourcing - Answers :Organization Chart:
Graphic display of reporting relationship that provide a general framework of the
organization.
Organizational Breakdown Structure (OBS):
Tools used to show the work units or work packages that are assigned to specific
organizational units.
Outsourcing:
Outsourcing is paying a second party to perform one or more of your internal processes
or functions. Business process outsourcing of certain functions is an increasingly
, popular way to improve basic services while allowing professionals time to play a
strategic role in their organizations. Frequently, outsource: payroll, 401(k)
administration, employee assistance, and retirement planning.
Describe the following terms:
Decision Matrix
Decrements - Answers :Decision Matrix:
A matrix is used by teams to evaluate possible solutions to problems. Each solution is
listed. Criteria are selected and listed on the top row to rate the possible solutions. Each
possible solution is rated on a scale from 1 to 5 for each criterion and the rating is
recorded in the corresponding grid. The ratings of all the criteria for each possible
solution are added to determine each solution's score. The scores are then used to help
decide which solution deserves the most attention.
Decrements:
Those types of activities by members of a pension system that cause them to no longer
remain members, that is death, retirement, disability, and withdrawal. Decrement is a
general term referring to any or all of these membership-terminating events.
Describe the acronym SWOT. - Answers :SWOT
-Strengths
-Weaknesses
-Opportunities
-Threats
The first two components (S + W) generally deal with elements found within the
company, and the last two (O + T) examine the environment outside the company.
SWOT profiles, along with a corporation's mission and major goals, make up the tools
you'll need to develop and form strategies. They are the components of the Strategic
Management Model. These game plans reflect in broad terms, how, where, and why the
company should compete as well as against whom.
Describe the practical guidelines for effective strategic planning. - Answers :Practical
Guidelines for Effective Strategic Planning
1. Involve everyone you need to carry out your plan.
2. Work collaboratively with those whose help you need.
3. Schedule a full-day retreat.
4. Document your plan.
5. Make it as simple as possible.
6. Develop an action plan for each strategic objective.
7. Keep the process alive by updating it continuously.
8. Make sure that your plan fits senior management's goals.
9. Don't undertake too much - prioritize your objectives.
10. Keep your plan visual.
11. Communicate the plan down the line.
12. Create an accountability document.
FUNCTIONS
Describe the following terms:
Laissez-Faire Management Style
Open-Door Policy - Answers :Laissez-Faire Management Style:
Management approach in which team members are not directed by management. Little
information flows from the team to the manager, or vice versa. This style is appropriate
if the team is highly skilled and knowledgeable and wants no interference by the
manager.
Open-Door Policy:
Management approach that encourages employees to speak freely and regularly to
management regarding any aspect of the business or product. Adopted to promote the
open flow of communication and to increase the success of business operations or
project performance by soliciting the ideas of employees. Tends to minimize personnel
problems and employee dissatisfaction.
Describe the following terms:
Authoritarian Management Style
Autocratic Management Style - Answers :Authoritarian Management Style:
Management approach in which the manager tells team what is expected of them,
provides specific guidance on what should be done, makes his or her role within the
team understood, schedules work, and directs team members to follow standard rules
and regulations.
Autocratic Management Style:
Management approach in which the manager makes all decisions and exercises tight
control over the team. This style is characterized by communications from the manager
downward to the team and not vice versa.
Describe the following terms:
Organizational Chart
Organizational Breakdown Structure (OBS)
Outsourcing - Answers :Organization Chart:
Graphic display of reporting relationship that provide a general framework of the
organization.
Organizational Breakdown Structure (OBS):
Tools used to show the work units or work packages that are assigned to specific
organizational units.
Outsourcing:
Outsourcing is paying a second party to perform one or more of your internal processes
or functions. Business process outsourcing of certain functions is an increasingly
, popular way to improve basic services while allowing professionals time to play a
strategic role in their organizations. Frequently, outsource: payroll, 401(k)
administration, employee assistance, and retirement planning.
Describe the following terms:
Decision Matrix
Decrements - Answers :Decision Matrix:
A matrix is used by teams to evaluate possible solutions to problems. Each solution is
listed. Criteria are selected and listed on the top row to rate the possible solutions. Each
possible solution is rated on a scale from 1 to 5 for each criterion and the rating is
recorded in the corresponding grid. The ratings of all the criteria for each possible
solution are added to determine each solution's score. The scores are then used to help
decide which solution deserves the most attention.
Decrements:
Those types of activities by members of a pension system that cause them to no longer
remain members, that is death, retirement, disability, and withdrawal. Decrement is a
general term referring to any or all of these membership-terminating events.
Describe the acronym SWOT. - Answers :SWOT
-Strengths
-Weaknesses
-Opportunities
-Threats
The first two components (S + W) generally deal with elements found within the
company, and the last two (O + T) examine the environment outside the company.
SWOT profiles, along with a corporation's mission and major goals, make up the tools
you'll need to develop and form strategies. They are the components of the Strategic
Management Model. These game plans reflect in broad terms, how, where, and why the
company should compete as well as against whom.
Describe the practical guidelines for effective strategic planning. - Answers :Practical
Guidelines for Effective Strategic Planning
1. Involve everyone you need to carry out your plan.
2. Work collaboratively with those whose help you need.
3. Schedule a full-day retreat.
4. Document your plan.
5. Make it as simple as possible.
6. Develop an action plan for each strategic objective.
7. Keep the process alive by updating it continuously.
8. Make sure that your plan fits senior management's goals.
9. Don't undertake too much - prioritize your objectives.
10. Keep your plan visual.
11. Communicate the plan down the line.
12. Create an accountability document.
