boh4m final exam review - amazon s3 · structure combines functional and divisional structures to...

BOH4M Final Exam Review

Unit 1: Foundations of Management

Management Functions

Four Functions of Management:

Planning setting objectives and determining what actions should be taken to accomplish them

Organizing assigning tasks, allocating resources, and arranging activities to implement plans

Controlling measuring work performance, comparing results to objectives, and taking

corrective action as needed

Leading arousing people’s enthusiasm to work hard and direct their efforts to fulfill plans and

accomplish objectives

Levels and Types of Management

Levels of Management:

1) Top Managers responsible for the

performance of the organization as a whole or

one of its larger parts

2) Middle Managers in charge of relatively

large departments or divisions

3) Team Leaders / Supervisors in charge of

small work groups of non-managerial workers

Types of Management:

1) Line Managers responsible for work

activities that directly affect outputs

2) Staff Managers use technical expertise to

advise and support the efforts of line workers

3) Functional Managers responsible for a

single area of activity

4) General Manager responsible for

complex units that include many functional

areas

5) Administrators work in public and non-

profit organizations

Katz’s Essential Managerial Skills

Which managerial skills are most important at each level of management?


Management Theories

Traditional:

1) Scientific Management /

Motion Studies

Analyze and design

jobs to be as efficient

as possible by

eliminating wasted

motion, time, effort,

etc.

2) Administrative

Principles

Clearly set rules that

everyone in the

organization has to

follow

3) Bureaucracy

A highly structured

organization with set

roles within a strict

hierarchy

Behavioural:

1) Organization as Community

Organization is a cooperating community of managers and

workers that help each other to achieve common goals

2) Hawthorne Studies

Social and human concerns are keys to productivity and

individuals need special attention to perform as expected

3) Maslow’s Theory of Human Needs

Humans have different levels of needs and managers should

use these as motivators

4) Theory X and Theory Y

Theory X assumes workers are irresponsible, don’t like to

work, lack ambition, resist change, and prefer to be led by

others

Theory Y assumes workers are creative, willing to work and

accept responsibility, capable of self-control and self-direction

5) Theory of Adult Personality

Managers should accommodate mature adult personalities by

increasing task responsibility, increasing task variety, and use

participative decision-making

Maslow’s Hierarchy of Needs

How can managers use each level to motivate its workers?


Business Ethics

Four Alternative Ethical Views:

1) Utilitarian View of Ethics greatest good to the greatest number of people

2) Individualism View of Ethics primary commitment is to one’s long-term self-interests

3) Moral-Rights View of Ethics respects and protects the fundamental rights of all people

4) Justice View of Ethics fair and impartial treatment of people according to rules and standards

Cultural Relativism vs. Cultural Universalism:

1) Cultural Relativism ethical behaviour is always determined by a cultural context

2) Cultural Universalism behaviour that is unacceptable in one’s home environment should not

be acceptable anywhere else

Corporate Social Responsibility

Criteria for Evaluating CSR:


Corporate Social Responsibility Strategies:

1) Obstructionist meets only economic responsibilities

2) Defensive meets economic and legal responsibilities

3) Accommodative meets economic, legal, and ethical responsibilities

4) Proactive meets economic, legal, ethical, and discretionary responsibilities

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Unit 2: Planning

Benchmarking Competitive Advantage

What is benchmarking?

Using external and internal comparisons to

better evaluate current performance and

identify possible actions for the future

What is competitive advantage?

Operating with an attribute or set of attributes

that allows an organization to outperform its

rivals

Competitive Advantage Goal Setting

What are the key attributes that allow

organizations to gain competitive advantage?

Cost and quality

Knowledge and speed

Barriers to entry

Financial resources

Great goals are SMART:

Specific target key results

Measurable results can be assessed

Attainable challenging yet realistic

Referred to keep on the task at hand

Timely linked to specific due dates


SWOT Analysis

Porter’s Five Forces Model


Unit 3: Organizing and Controlling

Organizational Structures

Functional Structure

Structure People with similar skills and

performing similar tasks are grouped together

into formal work units

Use works well for small organizations

producing few products or services

Divisional Structure

Structure People are grouped together to

work on the same product or process, serve

similar customers, and/or are located in the

same area or geographical region

Use common in complex organizations

Matrix Structure

Structure Combines functional and

divisional structures to gain advantages and

minimize disadvantages of each

Use commonly used in multinational

corporations

Advantages:

Economies of scale

High-quality

technical problem

solving

In-depth training and

skill development

Disadvantages:

Difficulty

determining

responsibilities

Break down in

cooperation

Advantages:

Flexible in

responding to

environmental

changes

Clear delegation of

responsibilities

Improved

coordination

Easier to restructure

Disadvantages:

Duplication of

resources and efforts

across divisions

Competition across

divisions

Emphasis on

divisional goals over

organizational goals

Advantages:

Better cooperation

across functions

Improved decision-

making

Better customer

service

Improved strategic

management

Disadvantages:

Two-boss system

leads to power

struggles

Two-boss system

creates task confusion

and priority conflicts

Increased costs


Job Design Alternatives

Job Simplification employs

people in clearly defined and

specialized tasks with narrow job

scope

Job Rotation increases task

variety by periodically shifting

workers between jobs involving

different task assignments

Job Enlargement increases task

variety by combining into one job

two or more tasks previously done

by separate workers

Job Enrichment increases job

depth by adding work planning and

evaluating duties normally

performed by the supervisor

What factors influence job satisfaction?

Experienced meaningfulness of work

Experienced responsibility for the outcomes of the work

Knowledge of actual results of work activities

What are the 5 core characteristics that influence job

performance?

Skill variety

Task identity

Task significance

Autonomy

Feedback from the job itself

Initial Stages in Developing a Quality Workforce

Orientation set of activities designed to

familiarize new employees with their jobs,

coworkers, and key aspects of the organization

Socialization the process of influencing the

expectations, behaviours, and attitudes of a new

employee in a way considered desirable by the

organization

Maintaining a Quality Workforce

How does work-life balance influence your performance as a student at MISA?


Performance Appraisal Methods

How could Behaviourally Anchored Rating Scale (BARS) be used to evaluate employee performance?

Labour-Management Relations

In what ways can unions and managers make things difficult for each other?


Unit 4: Leading

Types of Power

Position Power

Based on a manager’s official status in the

organization’s hierarchy of authority

Sources of Position Power:

1) Reward Power capable of offering

something of value

2) Coercive Power capable of

delivering punishment or withholding

positive outcomes

3) Legitimate Power organizational

position or status confers the right to

control those in subordinate positions

Personal Power

Based on the unique personal qualities that a

person brings to leadership situation

Sources of Personal Power:

1) Expert Power capacity to influence

others because of one’s knowledge and skills

2) Referent Power capacity to influence

others because they admire you and want to

identify positively with you

3) Relational Power ability to function well

as part of a team working toward a common

goal

Leadership Traits and Responsibilities

What are some common

leadership traits?

Drive

Self-confidence

Creativity

Cognitive ability

Business knowledge

Motivation

Flexibility

Honesty

Integrity

What is visionary leadership?

A leader who brings a clear

and compelling sense of the

future to any situation, as

well as an understanding of

the actions needed to get

there successfully

How do effective leaders empower

others through servant leadership?

Provide information

Assign more responsibility

Increase authority

Demonstrate trust


Leadership Behaviours

What are the two basic dimensions of leadership behaviour?

Classic Leadership Styles

Blake-Mouton’s Leadership Grid:

Classic Leadership Styles:

Autocratic (Authority-Obedience Manager) emphasizes work over people, keeps

authority and information within the leader’s tight control, and acts in a unilateral command-

and-control fashion

Human Relations (Country Club Manager) emphasizes people over work

Laissez-faire (Impoverished Manager) shows little concern for task at hand, lets the

group make decisions, and acts with a “do the best you can and don’t bother me” attitude

Democratic (Team Manager) committed to task and people, getting things done while

sharing information, encouraging participation in decision making, and helping people develop

skills and competencies

Task Concerns:

•Plans and defines the work to be done

•Assigns task responsibilities

•Sets clear work standards

•Urges task completion

•Monitors performance results

People Concerns:

•Acts warm and supportive toward followers

•Develops social rapport with followers

•Respects the feelings of followers

•Is sensitive to followers’ needs

•Shows trust in followers


Contingency Approaches to Leadership

Fiedler’s Contingency Model:

Hersey-Blanchard Situational Leadership Model:


House’s Path-Goal Leadership Model:

Vroom-Jago Leader-Participation Model:

Directive Leadership

Communicate expectations

Give directions and schedule work

Maintain performance

standards

Clarify leader’s role

Use directive leadership when job

assignments are ambiguous

Supportive Leadership

Make work pleasant

Treat group members as equals

Be friendly and approachable

Show concern for subordinates’ well-

being

Use supportive leadership when

worker self-confidence is low

Achievement-Oriented Leadership

Set challenging goals

Expect high performance levels

Emphasize continuous

improvement

Display confidence in meeting high

standards

Use achievement-oriented leadership when task challenge

is insufficient

Participative Leadership

Involve subordinates in decision making

Consult with subordinates

Ask for subordinates’ suggestions

Use subordinates’ suggestions

Use participative leadership when

performance incentives are poor


According to Vroom-Jago, a leader should use

authority-oriented decision methods when:

The leader has greater expertise to

solve a problem

The leader is confident and capable of

acting alone

Others are likely to accept and

implement the decision

Little or no time is available for

discussion

According to Vroom-Jago, a leader should use group-

oriented and participative decision methods when:

The leader lacks sufficient information to

solve a problem by himself/herself

The problem is unclear and help is needed to

clarify the situation

Acceptance of the decision and commitment

by others is necessary for implementation

Adequate time is available for true

participation

Perception & Personality

What is involved in a psychological contract?

What kind of things can you do to

inspire a positive influence of how

others perceive you?

Dress to convey favourable

appeal

Flatter others to generate

positive feelings

When conversing, make eye

contact and smile

Display a high level of

energy

What are the “big five” personality traits?

1) Extroversion the degree to which someone is outgoing,

sociable, and assertive

2) Agreeableness the degree to which someone is good-

natured, cooperative, and trusting

3) Conscientiousness the degree to which someone is

responsible, dependable, and careful

4) Emotional Stability the degree to which someone is

relaxed, secure, and unworried

5) Openness the degree to which someone is curious,

receptive to new things, and open to change


Extrinsic Reward Theories of Motivation

Maslow’s Hierarchy of Human Needs:

Deficit Principle a satisfied need is not a motivator of behaviour

Progression Principle a need at one level does not become activated until the next lower-level need

is satisfied

Alderfer’s ERG Theory:

Frustration-Regression Principle an already satisfied lower level need becomes reactivated when

a higher-level need is frustrated

Existence Needs

•desires for physiological and material well-being

Relatedness Needs

•desires for satisfying interpersonal relationships

Growth Needs

•desires for continued psychological growth


Herzberg’s Two-Factor Theory:

McClelland’s Acquired Needs Theory:

Need for Achievement

• Desire to do something better or more efficiently, to solve problems, or to master complex tasks

• Prefer work that:

• involves individual responsibility for results

• involves achievable but challenging goals

• provides feedback on performance

Need for Power

• Desire to control other persons, to influence their behaviour, or to be responsible for other people


• involves control over other persons

• has an impact on people and events

• brings public recognition and attention

Need for Affiliation

• Desire to establish and maintain friendly and warm relations with other persons


• involves interpersonal relationships

• provides for companionship

• brings social approval


Team Roles for Managers

Supervisor serving as the appointed head of a formal work unit

Network Facilitator serving as a peer leader and network hub for a special task force

Participant serving as a helpful contributing member of a project team

External Coach serving as external convenor/sponsor of a problem-solving team staffed by others

What are the seven deadly sins in

meetings?

People arrive late, leave early,

and don’t take things seriously

The meeting is too long

People don’t stay on topic

The discussion lacks candor

The right information isn’t

available, so decisions are

postponed

No one puts decisions into

action

The same mistakes are made

meeting after meeting

What is the difference between formal and informal groups?

Formal Groups

• Teams that are officially recognized and supported by the organization for specific purposes

• Specifically created to perform essential tasks

• Managers and leaders serve “linking pin” roles

Informal Groups

• Not recognized on organization charts

• Not officially created for an organizational purpose

• Emerge as part of the informal structure and from natural or spontaneous relationships among people

• Include interest, friendship, and support groups

• Can have positive performance impact

• Can help satisfy social needs


All Units: Management Processes

Steps in the Decision-Making Process

What are the 5 steps in the decision-making process?

Steps in the Control Process The Life Cycle of a Team

What are the 4 steps in the control process?

What are the 5 stages of team development?

1) Forming initial orientation and

interpersonal testing

2) Storming conflict over tasks and ways of

working as a team

3) Norming consolidation around task and

operating agendas

4) Performing teamwork and focused task

performance

5) Adjourning task accomplishment and

eventual disengagement

Steps in the Planning Process Steps in the Delegation Process

What are the 5 steps in the planning process?

1) Define your objectives.

2) Determine where you stand in relation to your

objectives.

3) Develop premises regarding future conditions.

4) Analyze alternatives and make a plan.

5) Implement the plan and evaluate results.

What are the 3 steps in delegation?

1) Assign Responsibility explain tasks and

expectations

2) Grant Authority allow others to make

decisions and act

3) Create Accountability require others to

report back on results


Steps in the Human Resource Planning Process

What are the 5 steps in the HR planning process?

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