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MGMT 370 Exam 1 Study Guide

by: Sin Yong Tan

MGMT 370 Exam 1 Study Guide MGMT 370

Marketplace > Iowa State University > Business > MGMT 370 > MGMT 370 Exam 1 Study Guide
Sin Yong Tan
GPA 3.92

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About this Document

Complete study guide for MGMT 370 + BONUS QUESTIONS (With answers)
Professor Smith
Study Guide
Management of Organizations
50 ?





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This 6 page Study Guide was uploaded by Sin Yong Tan on Sunday February 7, 2016. The Study Guide belongs to MGMT 370 at Iowa State University taught by Professor Smith in Winter 2016. Since its upload, it has received 114 views. For similar materials see MANAGEMENT OF ORGANIZATIONS in Business at Iowa State University.


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Date Created: 02/07/16
Exam 1 Chap 1 (Mgmt in general) Nature: ­ Use resources reach objective ­ mgmt. purpose = use resources effectively and efficiently , achieve with min. cost. ­ Mgmt activities common characteristics:  a. within context of organization b. manager in charge of resources, and use to reach goal Impact: ­ mgmt. = decision making process, affect others ­ mgmt. characteristics: leadership, decision making, implementing work tasks ­ Leadership: influences other to common goal ­ Decision making: choose among several options ­ Implementing work task: carry out work decision ­ Primary stakeholders: Employees, Shareholders, Suppliers, customer, Communities,  Government regulators Function: ­ Planning: What goal and how to goal ­ Organizing: design job  department  develop relationship within organization to carry out plan ­ Leading: influence other to reach goal ­ Controlling: ensure organization’s action can reach goal Decision making process: ­ Gather info ­ use info make decision ­ implement decision Henry Mintzberg specific role: ­ Interpersonal role: interaction with internal and external, and all level of manager  Figurehead, Liaison, Leadership  ­ informational role: focus obtain data for decision making Monitor, disseminator, spokesperson  ­ Decisional role: Allocation of resources to reach goal  Entrepreneur, Disturbance handler, Resource allocator, negotiator (See slide 11 for examples) Mgmt general skills: Interpersonal skill, Technical skill, conceptual skill (Slide 12: Specific skills) Manager job different because: ­ The area & level of management ­ Organizational size and culture ­ Industry ­ Whether the organization is for­profit or nonprofit Pyramid of mgmt.: CEO, Upper, middle, first line management  Element of organization culture: Values, norms, behaviour, artifacts Emerging trends: e­business, global organization, ethics and social responsibility (ethical  decision) Learning mgmt. in class:  ­ sources of info ­ basic principle used in decision making ­ fundamental of decision  Job specific skills needa learn in working environment  Chap 2 (Approaches) History: ­ Capitalism + Industrial revolution  modern management  ­ above changes cause industrial chaos + low productivity  management = critical factor of  production Approaches: 1) Classical Approach: (Work/task) ­ focus manager’s role in formal hierarchy, focus task, machine, system needed to complete  task ­ 2 component: scientific + administrative mgmt. ­ Scientific mgmt.: study task, methods, and tools to improve work efficiency ­ F.Taylor:   “Best way”  select, train, teach worker  cooperate with worker to ensure work is done in best way  divide work equally between mgmt. and worker Taylor’s assumptions: ­ mutual interest ­ human = rational + economically motivated ­ willing to work = got work suitable for u ­ Administrative mgmt.: ­ Universality : Apply to all organization ­ Henri Fayol: mgmt. = universal process, 5 fn. & develop principles  Planning, Organizing, Coordinating, Controlling, Commanding ­ Max Weber: Bureaucy + rational authority and management by position Contributions: ­ Emphasize work, done things efficiently ­ criticize: ignored human aspect ­ Basic purpose: Improve standard of living, quality of all member of organization  2) Behavioural Approach: (Human) ­ focus human behaviour, needs and attitude ­ Mary parker Follet: integration unity, shared power, human cooperation ­ Howthorne studies: make manager realise the importance if worker’s social needs , human­ relation movement ­ Abraham Maslow: 5 needs Safety, Physiological, social, self­esteem, self­ actualization 3) System approach (Environments) ­ organization and environment: sets of interrelated parts to be managed as a whole ­ Chester Barnard: cooperative syst & acceptance theory of authority, adjust effectively to  changing environments ­W.Edward Deming: quality = driver of profit =/= cost of business 4) Contingency Approach (No best way to manage) ­ Bridge gap between theory and practice ­ find key variable in each mgmt. situation…relationship of variable…cause and effect… st 21  century mgmt.: ­ Peter Drucker’s: knowledge worker, long­term sustainability, corporate social responsibility = important part of mgmt. ­ Peer Senge: constant learning through continuous improvement & adaptation. Chap 3 (Environment) 3 component of environment: ­ General Environment: external factor: Affect all organization, exp: economic, politic, tech,  socioculture ­ Task Environment: External factor: specific to organization, exp: customer, supplier,  competitor ­ Internal env. : All the factor that make up the company: owner, employee, managers 1) General Env,: ­ Sociocultural: demographics and the values of the society within firm ­ political­legal: government vs organization ­ Technological: process of changing inputs (resources, labor, money) to outputs (goods  and services). ­ Economic: overall condition of interaction of economics throughout the world ­ Global: factor in other countries that affect company 2) Task Env: ­ Suppliers, customers, substitutes, competitors, potential new competitors 3) Internal Env.: ­ In small company, owner = all manager ­ 3 type manager: Strategic / institutional, Technical, Operational ­ Employee: Unionized (more formal) or non­unionized ­ Changing demographics: creating an older and more culturally diverse work force.  ­ Technological change: forcing employees to acquire more complex skills.  ­ Corporate governance: the formal system of oversight, accountability, and control for  organizational decisions and resources.  Primary Stakeholder: SOBE (Supplier, Owner, Buyer, Employee) Stakeholder view of env.: ­ Concern bout individual / organization that can affect the organization ­ Primary stakeholder: have contract, ownership or monitoring of a legal obligation of the  organization ­ Secondary: no formal connection, but still can affect thru public opinion ­ stakeholder influence the company from external. Identify stakeholder: ­ stakeholder map: show stakeholder & their stake ­ 3 type of stake: Equity interest, market interest, Influencing interest Gather stakeholder info: ­ Allow company change/adapt changes to env. & develop plan to respond ­ Info collecting technique: Survey, forcasting, trend analysis ­ Manage external env.  lessen threat  grab opportunity Common interaction technique: ◦Public relations ◦Boundary spanning ◦Lobbying ◦Negotiation ◦Forming alliances ◦Organizational restructuring Importance of external env. ­ Prob in receive and using info bout external env.: ◦Limited capability ◦Lack of information ◦Superfluous information ◦Current organizational constraints  External env…two dimensions: homogeneity and change.  Chap 4 (ethics) ­ Business ethics: moral principles and standards that define acceptable behavior ­ Ethical issue: identifiable problem, situation, or opportunity requiring a person or  organization to choose from among several actions that may be evaluated as ethical or  unethical ­ Manager need to ensure their decision are consistent with company’s value/policy & legal  standard ­ ethical or not = depends on issue itself ­ Factor influencing ethical decision:   personal value: utilitarianism & deontology   organizational relationship  Opportunity: punish & reward Reducing unethical behavior ­ establish and enforce ethical standards (tell what is acceptable + remove opportunity to act  unethically) ­ Adopt formal code of ethics and policies (tell what is expected & punish if x follow) ­ support from top mgmt. ­ Ethic training ­ Ethic audits : Evaluate effectiveness of ethics and compliance program + find weakness ­ encourage worker to report unethical behavior Social responsibility: max. “+”ve impact, min. “­”ve impact on society ­ Social responbility win trust & increase profit in long run ­ gain competitive advantage ­ Employer expected to provide a safe workplace, pay adequately, treat employee fairly,  provide equal opportunity  ­ Consumerism protect rights of safety, to be informed, to choose, to be heard ­ Responsible to Environment too! Social Audits: ­ Evaluate Long and short term…check if social responsibility is working or not ­ Allow firm to PINPOINT areas to improve & enhance Bonus Questions: 1. The primary purpose of the management process is to b. achieve organizational goals efficiently and effectively. 2. The definition of management considers a. goals. b. effectiveness. c. resources. d. efficiency. e. All of these choices 3. ____ means making the right decisions and then successfully implementing them. a. Efficiency b. Effectiveness c. Pervasiveness d. Controlling e. Leading 4. The purpose of planning and decision making is to a. enhance the company's image. b. monitor organizational progress. c. structure the organization for effective goal attainment. d. get the members of the organization to work together. e. serve as a guide for future activities. 5. Which of the following is the MOST common approach to the management of ethics? a. Top management support b. A multipage book of organizational policies and procedures c. An unwritten code of ethics  d .     A written code of ethics and top management support e. government regulation 6. Traditionally, experts have suggested a three­step model for applying ethical judgments to  situations that may arise during the course of business activities. The first step is to  a .    gather the relevant factual information. b. appoint an ombudsman. c. locate a mediator. d. determine what is lacking in the organization culture. e. determine the most appropriate moral values. 7. Bernard Madoff defrauded clients out of millions of dollars. The probability that the  employees of  Madoff's have high ethical behavior is minimal due to a. a national culture that values ethical behavior.  b .    its top management fostering an inappropriate culture. c. a legal environment that prohibits unethical practices. d. an economic environment conducive to ethical practices. e. its low­pressure competitive environment.


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