MGMT 310A EXAM 1 STUDY GUIDE
The Three Pillars of Management - Answers -1) Strategic Positioning
2) Organizational Design
3) Individual Leadership
Roles of Leaders vs Managers - Answers -Leaders: Set a direction for the firm, align
people to focus on the organizations vision, and motivate and inspire people.
Managers: Generally focus efforts on planning and budgeting, organizing and staff
resources, and controlling and problem solving.
Importance and Relevance of skills by Managerial Level (3 Levels) - Answers -1)
Technical skills
2) Interpersonal skills
3) Conceptual skills
Technical Skills - Answers -Most important for Frontline Supervisors
Interpersonal Skills - Answers -Most important for Middle Managers
Conceptual Skills - Answers -Most important for Top Executives
Changing perspectives of management (4) - Answers -1) Bureaucratic Organization
Structure
2) Scientific Management
3) Human relations movement
4) contingent view
Bureaucratic Organization Structure - Answers -- Clear differentiation of tasks and
responsibilities among individuals
- Coordination through a strict hierarchy of authority and decision rights
- Standardized rules and procedures
- Vertical separation of planning and execution: Plans made in upper ranks and carried
out by lower ranks
- The use of technical criteria for recruitment and promotion
Scientific Management - Answers -- Focused on how jobs, work, and incentive
schemes could be designed to improve productivity using industrial engineering
methods such as time and motion studies
- Idea that the organization is a well-oiled machine and the manager is the machine
operator
Human Relations Movement - Answers -- Emphasized the importance of informal
social relations at work
, - Organizations are a system of interdependent human beings who share a common
interest in survival and effective functioning of the firm
Contingent View - Answers -- Effective organizational structure was based on fit or
alignment between the organization and various aspects in its environment
- Organizational structure should fit the firm's environment
The Purpose of Business (3 Views) - Answers -1) Managerial View
2) Shareholder View
3) Stakeholder View
Managerial View - Answers -- Key focus = Production
- Firm viewed as a mechanism to produce goods and services
-Used up till 1960's
Shareholder View - Answers -- Key focus = Financial Performance
- Job is to create the highest possible stock market valuation of the firms assets
-Fueled managers to seek growth in any way possible
Stakeholder View - Answers -- Attempts to organize and analyze multiple groups that
interact with the firm
- Managers can better understand the complex internal and external environment of the
firm
Steps to Stakeholder Mapping - Answers -Step 1: Map stakeholder relations with the
firm
Step 2: Identify specific subsets within the stakeholders
Step 3: Determine stakes for each stakeholder
Step 4: Define connections between stakeholders
Stakeholder Management Process - Answers -- After mapping, managers should move
to develop mechanisms in the firm that can vbetter identify and respond to new
stakeholders and the complexity of the environment.
- Six ways to develop stakeholder mechanisms...
1) Strategic Review Process - Answers -Senior leaders meet with business unit
managers to review the performance of units or divisions and present perspectives on
future prospects
2) Environmental Scanning - Answers -Managers scour the business horizon for key
events and trends that will affect the business in the future
3) Scenario Building - Answers -A stakeholder attempts to forecast the likely result
when several clients and stakeholders are linked together
The Three Pillars of Management - Answers -1) Strategic Positioning
2) Organizational Design
3) Individual Leadership
Roles of Leaders vs Managers - Answers -Leaders: Set a direction for the firm, align
people to focus on the organizations vision, and motivate and inspire people.
Managers: Generally focus efforts on planning and budgeting, organizing and staff
resources, and controlling and problem solving.
Importance and Relevance of skills by Managerial Level (3 Levels) - Answers -1)
Technical skills
2) Interpersonal skills
3) Conceptual skills
Technical Skills - Answers -Most important for Frontline Supervisors
Interpersonal Skills - Answers -Most important for Middle Managers
Conceptual Skills - Answers -Most important for Top Executives
Changing perspectives of management (4) - Answers -1) Bureaucratic Organization
Structure
2) Scientific Management
3) Human relations movement
4) contingent view
Bureaucratic Organization Structure - Answers -- Clear differentiation of tasks and
responsibilities among individuals
- Coordination through a strict hierarchy of authority and decision rights
- Standardized rules and procedures
- Vertical separation of planning and execution: Plans made in upper ranks and carried
out by lower ranks
- The use of technical criteria for recruitment and promotion
Scientific Management - Answers -- Focused on how jobs, work, and incentive
schemes could be designed to improve productivity using industrial engineering
methods such as time and motion studies
- Idea that the organization is a well-oiled machine and the manager is the machine
operator
Human Relations Movement - Answers -- Emphasized the importance of informal
social relations at work
, - Organizations are a system of interdependent human beings who share a common
interest in survival and effective functioning of the firm
Contingent View - Answers -- Effective organizational structure was based on fit or
alignment between the organization and various aspects in its environment
- Organizational structure should fit the firm's environment
The Purpose of Business (3 Views) - Answers -1) Managerial View
2) Shareholder View
3) Stakeholder View
Managerial View - Answers -- Key focus = Production
- Firm viewed as a mechanism to produce goods and services
-Used up till 1960's
Shareholder View - Answers -- Key focus = Financial Performance
- Job is to create the highest possible stock market valuation of the firms assets
-Fueled managers to seek growth in any way possible
Stakeholder View - Answers -- Attempts to organize and analyze multiple groups that
interact with the firm
- Managers can better understand the complex internal and external environment of the
firm
Steps to Stakeholder Mapping - Answers -Step 1: Map stakeholder relations with the
firm
Step 2: Identify specific subsets within the stakeholders
Step 3: Determine stakes for each stakeholder
Step 4: Define connections between stakeholders
Stakeholder Management Process - Answers -- After mapping, managers should move
to develop mechanisms in the firm that can vbetter identify and respond to new
stakeholders and the complexity of the environment.
- Six ways to develop stakeholder mechanisms...
1) Strategic Review Process - Answers -Senior leaders meet with business unit
managers to review the performance of units or divisions and present perspectives on
future prospects
2) Environmental Scanning - Answers -Managers scour the business horizon for key
events and trends that will affect the business in the future
3) Scenario Building - Answers -A stakeholder attempts to forecast the likely result
when several clients and stakeholders are linked together
