Mgmt100 - Study guides, Class notes & Summaries

MGMT100 TEST QUESTIONS WITH ALL CORRECT ANSWERS Common reasons for business failure - Answer- personal reasons, poor economic conditions, underestimation of start-up time, undercapitalisation, overestimation of market size, lack of managerial skills, lack of cash flow, wrong business location, poor selling point, incompetent human resources, ethical failure, zero strategic thinking, no commitment 5 stages of the entrepreneurial growth cycle - Answer- start-up, survival, growth, expansion,...

MGMT100 EXAM QUESTIONS WITH 100% CORRECT ANSWERS Types of Strategies in Response to CSR - Answer- - proactive (Take leadership of social intiatives) - Accommodative (do minimum ethically required) - Defensive (do minimum legally required) - obstructionist (Fight social demands) Vanguard Organisations - Answer- Organisations being proactive in the CSR space. Ethical Manager - Answer- Ethics sets standards for what is considered good and bad in manager conduct and decision-making. ...

MGMT100 Exam Revision Questions with All Correct Answers How can you reduce noise - Answer- playing ads at a time that kids would be in bed so the message can be heard without noise or having a direct link to a website on an ad so the customer isn't distracted What is observable culture - Answer- the things you hear or see in a business culture / enviornment e.g. floor layout , music , furniture , smells , uniforms What is an example of observable culture in a company - Answer- tw...

MGMT1000 EXAM QUESTIONS WITH ALL CORRECT ANSWERS Definition of Risk - Answer- Risk, n. (Exposure to) the possibility of loss, injury, or other adverse or unwelcome circumstance; a chance or situation involving such a possibility. The possibility of financial loss or failure as a quantifiable factor in evaluating the potential profit in a commercial enterprise or investment. five possible courses of action regarding risk - Answer- Avoid Risk -Pretty much what it sounds like. If you want to...

MGMT100 Test Revision Questions with All Correct Answers What is the external environment? - Answer- Things external to a business/organisation but which impact it What is the manager's role in relation to the environment? - Answer- Managers need to monitor and respond to the environment What are the two subdivisions of the external environment? - Answer- General environment (impacts organisation indirectly) and task environment (impacts organisation directly) What are the six subd...

MGMT100 EXAM QUESTIONS AND ANSWERS ALL CORRECT UPDATE Six types of Layout approaches - Answer- -Process-orientated -Product-orientated -Fixed-position -Office -Retail -Warehouse Four Supply Chain Strategies - Answer- -negotiate with many suppliers -long term partnering -vertical integration -Keiretsu Entrepreneurship- six characteristics of Trait Paradigm - Answer- 1. Risk-taking 2. Need for High Achievement 3. A desire for Independence 4. Internal locus of control 5. Ne...

MGMT100 ACTUAL EXAM QUESTIONS WITH ALL CORRECT ANSWERS What did Bureaucratic Management focus on? - Answer- the idea of large organisations operating on a rational basis. What are the five major characteristics of Weber's idea Bureaucracy? (CWFIC) - Answer- -clear division of labour -well-defined hierarchy -formal rules and procedures -inpersonality -career advancement based on merit What are the three types of management in the Classical Approach? - Answer- Scientific, Admini...

MGMT100 Final Quiz Questions with All Correct Answers In collaborative negotiations the most important stage tends to be __________... A. climate-setting B. the end-state C. the struggle phase D. after the end - Answer: A) climate-setting ___________ represent a special case of persuasive argument. The basis of this tactic is to focus attention on an unimportant issue, making the other party believe that it is critical, and then concede on this issue in order to divert attention...

MGMT100 Exam 1 Review Questions with All Correct Answers What is considered to be a significant disadvantage of owning a franchise? A. Start-up Costs B. Operational guidelines C. Difficulty obtaining loans D. Double taxation E. Competition - Answer- start-up costs What is the MOST important source of money for new business start-ups? A. banks B. the SBA C. Personal resources D. Government grants E. Venture capital - Answer- Personal resources What is the advantage to star...

UM MGMT1000 Midterm Exam Questions and Answers All Correct What is ego strength? - Answer- a personality measure of the strength of a person's convictions What is high ego strength? - Answer- A person is more likely to resist the temptations to act unethically What is locus of control? - Answer- the extent to which people believe they control their destinies What is internal locus of control? - Answer- They believe they can control themselves What is external locus of control?...