Business Quiz: Principles Of Management

communication can be top-down (e.g. directions and instructions given from superior to sub-ordinate) or it can be bottom-up (e.g. feedback from sub-ordinate to superior).

A focus strategy entails specializing by establishing a position of overall cost leadership, differentiation, or both, but only within a particular portion, or segment, or an entire market.

In this scenario, Shumaila is comparing actual sales figures with previously established goals to determine if her department has met the target. This aligns with the function of controlling, which involves monitoring performance and taking corrective actions to ensure that goals are achieved. By comparing actual sales figures with goals, Shumaila is assessing the performance of her department and making necessary adjustments if needed. Therefore, the correct answer is controlling.

To maximize motivation among today's diversified work force, managers need to think in terms of being flexible. Many of the so-called family-friendly programmes and flexible working schedules that organizations have developed are a response to the varied needs of a diverse workforce.

2) The disturbance handler takes corrective action when the organization faces important,
unexpected difficulties

The quantitative approach, also called operations research or management science, is the use of Quantitative techniques to improve decision making, and it evolved out of the development of Mathematical and statistical solutions to military problems during World War II. After the war, many Quantitative techniques that had been used for military problems were applied to the business sector.

Charles Babbage (1792-1871) is considered to be the “father of modern computing.” He foresaw the need for work specialization involving mental work. His management ideas also anticipated the concept of profit sharing to improve productivity.

Toyota motor company will be considered efficient if it produces quality products at low cost. This means that the company is able to maintain high standards of product quality while keeping the production costs low. By achieving this, Toyota can offer affordable products to consumers without compromising on quality, which is a key factor in determining efficiency.

C. Managing in an E-Business World. Chapter no 10 page no:25 1. E-business (electronic business)—a comprehensive term describing the way an organization does its work by using electronic (Internet-based) linkages with key constituencies in order to efficiently and effectively achieve its goals.

The socioeconomic view is the view that management’s social responsibility goes well beyond the making of profits to include protecting and improving society’s welfare.

a). The argument behind this view is that corporations are not independent entities responsible only to stockholders.

b). Also, modern organizations are no longer just economic institutions

Referent power refers to the influence a person has over others because they are admired, respected, or liked. In this scenario, the professional sports star has referent power over the young child because the child is emulating their behavior. The child looks up to the sports star and wants to be like them, indicating that the sports star has a strong influence over the child due to their admiration and respect for the star.

The construction of pyramids typically took around 20 years. This is because building a pyramid was an enormous undertaking that required careful planning, skilled labor, and a significant amount of time. The process involved quarrying and transporting massive stone blocks, shaping them to fit together precisely, and stacking them to create the pyramid's structure. Additionally, the pyramids were often built as tombs for pharaohs, and the construction process included elaborate burial chambers and intricate decorations. All of these factors contributed to the lengthy construction period of approximately 20 years.

For reference try lect 38 slide 20/32

The classical view is the view that management’s only social responsibility is to maximize profits.
a. Milton Friedman is the most outspoken advocate of this view.
b. He argues that managers’ primary responsibility is to operate the business in the best interests of
the stockholders—the true owners of the organization.