, Bus 1101 Principles of Business
Management Chapter 3 Exam 2024
Review Questions and Answers Graded
A+
As the world becomes more global, managers find themselves - correct answer
leading workforces that may be distributed across the country—and the world.
Workers are more educated, but - correct answer more is expected of them.
As a leader, you'll be a role model in the organization, setting the tone not just for what
gets done but - correct answer how it gets done.
Increasingly, good business practice extends to - correct answer stewardship, not just
of the organization but of the environment and community at large.
Ethics and values- based leadership aren't just good ideas—they're vital to - correct
answer attracting talent and retaining loyal customers and business partners.
Early management principles were born of - correct answer necessity.
The most influential of these early principles were set forth by - correct answer Henri
Fayol
Henri Fayol - correct answer a French mining engineer.
In what year did Fayol became director of a mining company?. - correct answer 1888
The company was in difficulty, but Fayol was able to - correct answer turn it around
and make the company profitable again.
When he retired, Fayol wrote down - correct answer what he'd done to save the
company.
He helped develop - correct answer an "administrative science" and developed
principles that he thought all organizations should follow if they were to run properly.
Fayol had how many principles of management? - correct answer 14
List Fayol's 14 principles of management - correct answer 1. Specialization/Division of
Labour
2. Authority/Responsibility
3. Discipline
, 4. Unity of Command
5. Unity of Direction
6. Subordination of Individual Interest
7. Remuneration
8. Centralization
9. Line of Authority
10. Order
11. Equity
12. Stability of Tenure
13. Initiative
14. Esprit de Corps
By specializing in a limited set of activities, - correct answer workers become more
efficient and increase their output.
Managers must have the authority to issue commands, but - correct answer with that
authority comes the responsibility to ensure that the work gets done.
Workers must obey orders if the business is to run smoothly. But good discipline is the
result of - correct answer effective leadership: workers must understand the rules and
management should use penalties judiciously if workers violate the rules.
An employee should receive orders only from - correct answer one boss to avoid
conflicting instructions.
Each unit or group has only - correct answer one boss and follows one plan so that
work is coordinated.
The interests of one person should never - correct answer take precedence over what
is best for the company as a whole.
Workers must be - correct answer fairly paid for their services.
Centralization refers to - correct answer decision making
Where decisions are centralized - correct answer made by management
Where decisions are decentralized - correct answer made by employees
Fayol believed that whether a company should centralize or decentralize its decision
making depended on - correct answer the company's situation and the quality of its
workers.
The line of authority moves from - correct answer top management down to the lowest
ranks.
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