Are 112 midterm - Study guides, Class notes & Summaries

bounded rationality -ANSWER- A set of BOUNDARIES or CONSTRAINTS that tend to complicate the rational decision-making process transaction costs -ANSWER- the expenses of negotiating and executing a deal (the cost of completing a sale/purchase) cost of uncertainty -ANSWER- chance that price of an asset will change; unstable stocks or bonds incomplete contracts -ANSWER- When a consumer or seller is not able to maximize the benefits of a transaction because they are not aware of all the fact...

ARE 112 MIDTERM 1 - PRACTICE EXAM

Coercive power - ANSWER-The power to punish (least effective). Legitimate power - ANSWER-The power granted by some authority. EX: Mr. Peach and Alex Expert power - ANSWER-The power to have some specific skill or knowledge not found in others. EX: computer Wiz: Ralph and Jonah Referent power - ANSWER-The power from admiration or respect. Reward power - ANSWER-The power from being able to provide a reward to others. - In order to have authority you need to have power. - Autho...

Alignment issues and solving performance gaps are terms from class related to: a. causes for conflicts b. none of the answers provided are correct c. resolution of conflicts d. incremental changes e. culture from the organizational interaction model - ANSWER-d. incremental changes From class we saw that changes in behavior come from: a. Two of the answers are correct b. Three of the answers are correct c. Values d. Facts e. Norms - ANSWER-d. facts The McKinsey tool we discussed i...

ARE 112 Midterm #2 – Questions And Solutions

Coercive Power - ANSWER-The power to punish Legitimate power - ANSWER-the power granted by some authority Expert power - ANSWER-the power to have some specific skill or knowledge not found in others Referent Power - ANSWER-The power from admiration or respect Reward Power - ANSWER-the power from being able to provide a reward for others Change Management. - ANSWER-Why Change occurs---- Change methods: Phase method Crossover approach Phase method - ANSWER-1. Unfreezing: prepa...

why organizations exist? - ANSWER-to achieve goal or set of goals organizations try to ____ goals - ANSWER-optimize or satisfy 10 innovations since WWII - ANSWER-Lesson: all come from organizations 4 steps to organization - ANSWER-1. acquire people and resources 2. organize and harness ingenuity of people 3. respond to social, commercial environment 4. produce and distribute goods and services BSS, PCS, TS - ANSWER-buy side, strategy, sell side, people, culture, structures, tasks, sy...

Alignment issues and solving performance gaps are terms from class related to: a. causes for conflicts b. none of the answers provided are correct c. resolution of conflicts d. incremental changes e. culture from the organizational interaction model - d. incremental changes From class we saw that changes in behavior come from: a. Two of the answers are correct b. Three of the answers are correct c. Values d. Facts e. Norms - d. facts The McKinsey tool we discussed in class was: a. T...

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ARE 112 midterm exam questions & answers 2023/2024 bounded rationality - ANSWER-A set of BOUNDARIES or CONSTRAINTS that tend to complicate the rational decision-making process transaction costs - ANSWER-the expenses of negotiating and executing a deal (the cost of completing a sale/purchase) cost of uncertainty - ANSWER-chance that price of an asset will change; unstable stocks or bonds incomplete contracts - ANSWER-When a consumer or seller is not able to maximize the benefits of a...