Management 301 Exam 4 UPDATED
ACTUAL Exam Questions and CORRECT
Answers
Managers must: - CORRECT ANSWER - 1. Develop culture
2. Encourage innovation
3. Manage change
Culture (internally/externally) - CORRECT ANSWER - Internally: a set of beliefs/values that
guid behavior
Externally: it is a set of signals of what is considered appropriate/inappropriate
Cultural fit - CORRECT ANSWER - Do you want to be us?
Main reason people leave their job
Culture is... (4 things) - CORRECT ANSWER - -Personal
-Organizational
-Corporate
-Global
Culture is organizational example - CORRECT ANSWER - Augusta National; not allowing
IBM CEO Ginni Rometty in the golf league because she is a woman
Culture is Corporate example - CORRECT ANSWER - Disney with Mickey: tradition is a big
part of their orientation
Culture:
-shapes attitude
-reinforces belief
,-directs behaviors
-sets expectations
4 elements corporation and culture - CORRECT ANSWER - -Shapes attitude
-Reinforces beliefs
-Directs behavior
-Sets expectations
KPMG Study - CORRECT ANSWER - -Found that only 17% of mergers and acquisitions
had any added value
-83% failed to produce any value and 50% destroyed shareholder value.
-Only did financial audit, not cultural audit
Socialization - CORRECT ANSWER - The process by which new members learn the culture
of a team or organization
Competing Values Framework - CORRECT ANSWER - CULTURE IS GLOBAL:
-Hierarchal
-Entrepreneurial
-Rational
-Team culture
Heirarchal culture - CORRECT ANSWER - -Authority runs the system
-Clear roles
-Rules
-Emphasis on predictability
Rational culture - CORRECT ANSWER - -Authority serves the goals
, -Efficiency
-Planning
-Emphasis on modest change
Entrepreneurial culture - CORRECT ANSWER - -Authority goes with ideas
-Flexibility
-Change and growth
-Emphasis on entrepreneurship
Team culture - CORRECT ANSWER - -Authority is shared
-Teamwork
-Collaboration
-Emphasis on mutual support
Observed Culture - CORRECT ANSWER - -Visible part that people SEE:
ex.) Stories, heroes, symbols, and rites/rituals
Core Culture - CORRECT ANSWER - Values or beliefs about right ways to behave
ex.) code of conduct or rules
4 elements of observed and core culture - CORRECT ANSWER - -Rites/rituals
-Symbols
-Stories,
-Heroes
Heroes - CORRECT ANSWER - -Big 3 heroes are: employees, leaders, customers
-Benefits: shared knowledge of hero stories; establish/ represent core values
-Example: Disney, Walton (Walmart), Ken Frazier (merck)
ACTUAL Exam Questions and CORRECT
Answers
Managers must: - CORRECT ANSWER - 1. Develop culture
2. Encourage innovation
3. Manage change
Culture (internally/externally) - CORRECT ANSWER - Internally: a set of beliefs/values that
guid behavior
Externally: it is a set of signals of what is considered appropriate/inappropriate
Cultural fit - CORRECT ANSWER - Do you want to be us?
Main reason people leave their job
Culture is... (4 things) - CORRECT ANSWER - -Personal
-Organizational
-Corporate
-Global
Culture is organizational example - CORRECT ANSWER - Augusta National; not allowing
IBM CEO Ginni Rometty in the golf league because she is a woman
Culture is Corporate example - CORRECT ANSWER - Disney with Mickey: tradition is a big
part of their orientation
Culture:
-shapes attitude
-reinforces belief
,-directs behaviors
-sets expectations
4 elements corporation and culture - CORRECT ANSWER - -Shapes attitude
-Reinforces beliefs
-Directs behavior
-Sets expectations
KPMG Study - CORRECT ANSWER - -Found that only 17% of mergers and acquisitions
had any added value
-83% failed to produce any value and 50% destroyed shareholder value.
-Only did financial audit, not cultural audit
Socialization - CORRECT ANSWER - The process by which new members learn the culture
of a team or organization
Competing Values Framework - CORRECT ANSWER - CULTURE IS GLOBAL:
-Hierarchal
-Entrepreneurial
-Rational
-Team culture
Heirarchal culture - CORRECT ANSWER - -Authority runs the system
-Clear roles
-Rules
-Emphasis on predictability
Rational culture - CORRECT ANSWER - -Authority serves the goals
, -Efficiency
-Planning
-Emphasis on modest change
Entrepreneurial culture - CORRECT ANSWER - -Authority goes with ideas
-Flexibility
-Change and growth
-Emphasis on entrepreneurship
Team culture - CORRECT ANSWER - -Authority is shared
-Teamwork
-Collaboration
-Emphasis on mutual support
Observed Culture - CORRECT ANSWER - -Visible part that people SEE:
ex.) Stories, heroes, symbols, and rites/rituals
Core Culture - CORRECT ANSWER - Values or beliefs about right ways to behave
ex.) code of conduct or rules
4 elements of observed and core culture - CORRECT ANSWER - -Rites/rituals
-Symbols
-Stories,
-Heroes
Heroes - CORRECT ANSWER - -Big 3 heroes are: employees, leaders, customers
-Benefits: shared knowledge of hero stories; establish/ represent core values
-Example: Disney, Walton (Walmart), Ken Frazier (merck)
