ONE DIRECTION ACADEMY FINAL EXAM Name of Course: Business Leadership: Management Fundamentals Course Code: BOH4M Teacher: Ms. Schwartz Date: Oct. 17, 2021 Length of Exam: 2 hrs. Name: Instructions • Answer all ques ons in full sentences and paragraphs. • Write down your answers on this exam paper. Addi onal paper will be provided for your rough work. Please ini al and submit all pages of rough work with your exam. • Write legibly. • You may write in dark pencil or pen. Good Luck ☺ Mark Breakdown Knowledge / Understanding 27 Thinking / Inquiry 12 Communication 25 Application 12 ti ti ti Total Marks 76 BOH4M Final Exam April 2017 Schwartz Page 2 of 19 PART A: Short Answer Ques ons – Knowledge & Understanding - /17 marks 1) Describe the term “planning” and provide 2 bene ts of planning. ( /4 marks) (1)Planning is the process of setting goals and defining the actions required to achieve the goals. (2)The process of setting objectives and determining what actions should be taken to accomplish them. • Planning provides a guide for action. Plans can direct everyone’s actions toward desired outcomes. When actions are coordinated and focused on specific outcomes, they are much more effective. • Planning improves resource utilization. Resources are always scarce in organizations, and managers need to make sure the resources they have are used effectively. Planning helps managers determine where resources are most needed so they can be allocated where they will provide the most benefit. • Plans provide motivation and commitment. People are not motivated when they do not have clear goals and do not know what is expected of them. Planning reduces uncertainty and indicates what everyone is expected to accomplish. People are more likely to work toward a goal they know and understand. • Plans set performance standards. Planning defines desired outcomes as well as mileposts to define progress. These provide a standard for assessing when things are progressing and when they need correction. • Planning allows flexibility. Through the goal-setting process, managers identify key resources in the organization as well as critical factors outside the organization that need to be monitored. When changes occur, managers are more likely to detect them and know how to deploy resources to respond. fi ti Page 2 of 19 BOH4M Final Exam April 2017 Schwartz Page 3 of 19 2) Explain the principle of Corporate Social Responsibility and provide an example. ( /3 marks) Ten principles of corporate social responsibility: Enterprises should support and respect the declara on of human rights made to the interna onal community to the extent they can in uence it. Do not protect human rights viola ons and labor. E ec vely guarantee the freedom to form trade unions and the right to collec ve bargaining. Eliminate all forms of forced labor. Abolish child Labour e ec vely. Eliminate discrimina on in employment and occupa on. 7. Enterprises should take precau ons against environmental problems. Take the ini a ve to take responsibility for environmental protec on. Promote the development and populariza on of environmental protec on technology. Take ac ve measures against corrup on in any form, such as extor on and bribery. The ful llment of corporate social responsibility helps solve the employment problem. In addi on to increasing investment, new projects and expanding employment, the most important thing is to encourage enterprises to arrange labor force scien cally, expand employment channels and create more produc ve experience without reducing personnel, so as to minimize the pressure of pushing people out to society and increasing employment. In the past, only ISO9000 and ISO140000 interna onal cer ca on, this standard clearly s pulates that enterprises need to ensure that workers work clean and healthy environment, eliminate work safety hazards, shall not use child labor, and so on, e ec vely protect the vital interests of workers, not only can a ract labor resources, encourage them to create more value, More importantly, this kind of management can establish a good corporate image, gain reputa on and trust so as to achieve the long-term business objec ves of the enterprise. In this sense, enterprises ful ll their social responsibili es and help solve the employment problem. ti ti ti ti ti ti fi ti ti ff ti ti ti fl ti fi ti ti ti ti ti ti ti ti ti tt ff ti fi ti ti ti ti fi ti ti ff Page 3 of 19 BOH4M Final Exam April 2017 Schwartz Page 4 of 19 3) Describe the behaviour of a “good leader” and name two “good leaders” in the world. ( /6 marks) First, a good leader is very strict, to give employees a good future Second, a good leader has extraordinary will and can resist strong winds and waves. 3.A good leader has strong learning ability and is willing to accept new things 4. A good leader is good at mo va ng his subordinates as well as himself 5. Good leaders dare to take responsibility There may be "natural" leaders, but there are few. Those "geniuses" are not the mainstream of leadership. Most good leaders have the art of management that they learned and prac ced. This is a far cry from the stereotype of successful leaders, but it is true. In fact, people's misdelinea on of the leader o en results from their misunderstanding of the role and characteris cs of the leader. (2)Managing Director of the Interna onal Monetary Fund. Lagarde became head of the IMF in July 2011, at the height of the European debt crisis. She has the unenviable job of balancing the concerns of 188 member countries while shoring up the IMF's case against Greece Bailouts of Ireland, Portugal and other troubled countries. She con nues to do so, largely successfully, though the harsh condi ons imposed on aid infuriate some countries. In implemen ng her tough austerity programme, Ms Lagarde also made her comments more widely accepted by poin ng out that the reforms would generally bene t the poor and unemployed. Jack Ma, chairman of Alibaba Group, became a billionaire not only because of his excellent management, but also because he led the company with a grand and con dent style. From the ti fi fi ti ti ti ti ti ft ti ti ti ti Page 4 of 19 BOH4M Final Exam April 2017 Schwartz Page 5 of 19 day he started Alibaba in 1999 in a Hangzhou apartment, he exhorted employees to "think big" and "work for your dreams!" He has built Alibaba into the world's largest online company, with 100 million customers shopping every day and more revenue than Amazon and eBay combined. 4) Describe how jobs can be enriched in the workplace and provide 2 examples. ( /4 marks) The reason: The purpose of job enrichment is to make the posi on more sa sfying to the employee. Overall goals for the company o en include increasing employee job sa sfac on, reducing turnover, and improving produc vity of employees. What to do: To make this concept more usable, let's imagine you're a company manager and want to increase the sa sfac on of your sta . As you walk through the process of job enrichment, you'll need to keep in mind these goals: • Reduce repe ve work. • Increase the employee's feelings of recogni on and achievement. • Provide opportuni es for Employee Advancement (as in promo ons into Jobs requiring more skills) • Provide opportuni es for employee growth (as in, an increase in skills and knowledge without a job promo on). PART B: De ni ons – Knowledge & Understanding - /10 marks 1) De ne FIVE (5) of the following terms (2 marks per de ni on): Ethics ti ti ti ti ti ti fi ti ft ti ff ti ti ti ti ti ti ti ti fi fi Page 5 of 19 BOH4M Final Exam April 2017 Schwartz Page 6 of 19 – Code of moral principles. – Society requires businesses to operate according to high moral standards. – Emphasis today on restoring the strength of corporate governance Strategic Plan: It’s a process to figure out where your company is going and how to get there—but it’s also so much more. A strategic plan defines who you are as a business and lists concrete actions to achieve your goals. When the unexpected occurs, a strategic plan helps your business survive and find new opportunities while staying true to your values and mission. Leadership:The process of inspiring others to work hard to accomplish important tasks. Stress A state of tension experienced by individuals facing extraordinary demands, constraints, or opportunities. Job Design:When discussing job design, the focus is on the macro approach of how a leader, within an organization structure, assigns tasks for individuals. Job design follows the fundamentals of scope, depth, and specialization of the job. It relates to the job’s simplification, rotation, enlargement, and enrichment. Motivation within job design uses the framework of a matrix which follows certain fundamentals. Corporate Culture: Corporate culture refers to the beliefs and behaviors that determine how a company's employees and management interact and handle outside business transactions. Often, corporate culture is implied, not expressly defined, and develops organically over time from the cumulative traits of the people the company hires. Motivation:Motivation—the forces within the individual that account for the level, direction, and persistence of e ort expended at work. ff Page 6 of 19 BOH4M Final Exam April 2017 Schwartz Page 7 of 19 PART C: Short Answer - Communica on /25 marks There are di erent types of managers in every organiza on. In two paragraphs, describe what it takes to be an “e ec ve” manager. Consider the following in your response: • What quali es make a manager “e ec ve”? • What types of mo va onal strategies can the “e ec ve” manager implement? • How does an “e ec ve” manager assess employees? • Use two examples in each paragraph to back up your argument. To be an e ec ve manager, you need to: 1. Focus on goals and performance; Only do the right thing. 2. Do one thing at a me, and only the most important thing. He sets his priori es with the utmost care, makes necessary reviews at all mes, and resolutely abandons outdated tasks or postpones of lesser importance; He knows that me is his most precious resource and must be used with the utmost care. 3. As a knowledge worker, he knows his contribu on is to: create new ideas, visions and ideas; His principle is: What can I contribute? How can I mo vate others to contribute to the overall goal? His aim is to improve overall performance. He tries to build a high-performance team; He knows that everyone has the capacity to contribute more, and he constantly sets himself and those he works with higher goals to improve his own and others' work. When selec ng senior managers, he focuses on outstanding performance and integrity. He had a keen sense of the enormity of the task of selec ng talent for a key posi on. Such sta ng decisions are cri cal and must be considered for considerable me. At this point, e ec ve managers also know that no one is infallible. He doesn't have to worry too much about rela onships because he knows they are a byproduct of how the organiza on works. If people are given the right work tasks and the necessary tools, they will automa cally generate good rela onships. He avoids being overly close to those he has selected and avoids forming fac ons and networks. He keeps his subordinates at arm's length so that he can measure their performance impar ally and reasonably; He knows that no one is perfect. Even the most capable people have weaknesses. He cares about what a man can do, not what he cannot do. He is commi ed to fully pooling the knowledge and skills of his people and using these strengths to achieve organiza onal goals. 5. Know the importance of improving communica on; He is selec ve in gathering the informa on he needs. He knows that some things cannot be quan ed, and that too much informa on leads to confusion and confusion. 6. Only make e ec ve decisions. To be an e ec ve manager, you must do the following: First, keep track of your me use, analyze your me record, eliminate unnecessary waste of me, and realize that your most scarce resource is me; Second, we should focus on contribu on, not only on "methods", but also on "objec ves" and "results"; Third, give full play to one's strengths and respect oneself ti ti ffi ti ti ti fi ti ti ti ti ti ti ti ti ti ti ti ti ff ti ti ti ti ff ti tt ti ti ti ti ti ti ti ti ti ti ff ti ff ff ff ti ti ti ti ff ti ti ti ff ff ti ti Page 7 of 19 BOH4M Final Exam April 2017 Schwartz Page 8 of 19 and others. Fourthly, they should be characterized by insight, self-reliance and courage, so that they have lo y goals, rm determina on and dedica on; Fi h, make e ec ve decisions. The good faith Honesty is the founda on of people, honesty is the cornerstone of managers. Therefore, enterprise managers should become a model of honesty. Be honest with customers and trustworthy with colleagues. Juhai Cheng Jie teacher said: "integrity is the second life of enterprises." In fact, in the increasingly erce market compe on, the integrity of managers has begun to become a key factor in the brand building of a company. Domino's, a world-renowned company, consistently promises to deliver goods to any designated loca on within 30 minutes. Once, a family of dough was delayed on a long delivery because of car trouble. Domino's president Don Fulsek found out and chartered a plane to deliver the dough in me to the store where the supply would be cut o . The store owner was overjoyed and grateful to Domino's. And it is precisely because of the focus on integrity, Domino PI was able to stand rm in many compe tors, to create a well-known brand. The quali es required of an "e ec ve" manager are :(1) integrity Honesty is the founda on of people, honesty is the cornerstone of managers. Therefore, enterprise managers should become a model of honesty. Be honest with customers and trustworthy with colleagues. Juhai Cheng Jie teacher said: "integrity is the second life of enterprises." In fact, in the increasingly erce market compe on, the integrity of managers has begun to become a key factor in the brand building of a company. Domino's, a world-renowned company, consistently promises to deliver goods to any designated loca on within 30 minutes. Once, a family of dough was delayed on a long delivery because of car trouble. Domino's president Don Fulsek found out and chartered a plane to deliver the dough in me to the store where the supply would be cut o . The store owner was overjoyed and grateful to Domino's. And it is precisely because of the focus on integrity, Domino PI was able to stand rm in many compe tors, to create a well-known brand. (2)loyalty "Skill at the bo om, loyalty at the middle." For an enterprise, loyalty is the basic requirement for employees, and also one of the criteria to evaluate whether they are worth cul va ng. The quality of managers is undoubtedly more important. (3)diligence In the 21st century, the successful organiza on model must be learning organiza on. ti ti fi fi ti ti ti ti ff ft ti ti ti ti ti ti ti ff ti ff ff fi ti ti ti ti tt fi fi ft ti ti ti Page 8 of 19 April 2017 Schwartz Page 9 of 19 Under the new economic background, enterprises must enhance the comprehensive ability of enterprises and improve the overall quality of employees in order to develop con nuously. The development of an enterprise cannot only rely on the leader of the enterprise to take charge of the whole situa on. The truly successful businesses of the future will be those that manage to engage employees at all levels with renewed commitment and the ability to keep learning. To build a learning organiza on, enterprise managers should not lag behind, and even become the leader and ini ator of enterprise learning. (4)To undertake Steven Brown, a famous Management consultant in the United States, once said: "Managers must be willing to take responsibility if they want to exert management e ect." The manager of an enterprise is the leader of his team, and the ac ons of his subordinates are the implementa on of his decisions. Whenever his subordinates make mistakes, he must take the blame. Because, the subordinate is he chooses, the task is he assigns, he bears the responsibility of supervision and inspec on. Incen ve strategy: 1. Spiritual mo va on: It is the basis and star ng point of mo va on to look at and understand the needs of employees objec vely and respect their legi mate needs. If you misunderstand the needs and values of your employees, mo va on is out of the ques on. In fact, people not only have material needs, but also spiritual needs. A study of incen ves in the US showed that employees rated praise from a manager for a job done as the most important of all incen ves. Unfortunately, 58 percent of employees in the study said managers typically don't give such praise. It can be seen that enterprises can not only use material to mo vate employees, spiritual mo va on has an irreplaceable role. 2. Incen ve is not reward Many managers simply think that incen ve is reward, so when designing incen ve mechanism, they tend to only consider the posi ve incen ve measures one-sided, but ignore or ignore the restraint and punishment measures. In a complete sense, incen ve should include two meanings of excita on and restraint, while reward and punishment are opposites. Incen ve is not all encouragement, it also includes many nega ve incen ve measures, such as nes, demo on, elimina on incen ve and so on. 3.. Avoid equal distribu on Some enterprises in the establishment of the incen ve system, the sta is not encouraged, but the e ort level declined. The reason is that there is no systema c and scien c evalua on standard, which eventually leads to "equalitarianism" in the implementa on process, such as "Round zhuang method" and "castra on method" in the evalua on of excellent, which hits the enthusiasm of employees who make great contribu ons. Bonus is originally an incen ve factor, but there is a devia on in the implementa on process, which makes employees feel dissa s ed, but inhibits and reduces the e ort level of employees. ti ti ti ti ti ti fi ti ff ti ti ti ff ti ti ti ti ti ti ti ti ti ti ti ti ti ff ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti fi ti ti ff Page 9 of 19 ti fi BOH4M Final Exam BOH4M Final Exam April 2017 Schwartz Page 10 of 19 A set of scien c and e ec ve incen ve mechanism is not isolated, but should be combined with a series of related systems of enterprises to play a role. Among them, the evalua on system is the basis of mo va on, with accurate evalua on can be targeted for mo va on. In the process of the implementa on of incen ves, we must pay a en on to the principle of fairness, so that everyone feels that they are treated fairly. We must oppose equalitarianism, otherwise incen ves will produce nega ve e ects. First of all, sort out the responsibili es of the department and clarify the responsibili es of the post. On the basis of clear key management process, implement each ac vity to a speci c posi on; Iden fy the role of each posi on in key processes to establish a solid founda on for job analysis. Secondly, build the post competency model. The comprehensive evalua on of the post is mainly carried out from the background condi ons (objec ve condi ons), professional knowledge and skills, behavioral ability and engagement. (1) Background Criteria: mainly includes educa on level, major, post experience, industry experience, professional quali ca ons, tle, etc., which is one of the important condi ons for the matching of people and posts. All Background condi ons are de ned by quan za on and weight distribu on to clarify the importance and priority. These alloca ons will be applied to the matching degree calcula on of posi ons and talents to provide more accurate reference for employment decisions. (2) Knowhow Skill set: The Knowhow Skill set refers to the necessary professional knowledge and skills of the post. The enterprise knowledge map is sorted out to clarify the professional knowledge structure and requirements of the post. The professional knowledge requirements are divided into ve levels: learning and understanding, applica on under guidance, independent applica on, team example and consul ng experts. (3) The behavioral Behavior Anchored: namely, the ability quality, behavioral quality or behavioral pointer. Based on the primary data of BEI interviews of senior, middle and high performers in enterprises and the requirements of excellent enterprises' behavioral ability, Burt consultants re ne and analyze the indicators of corporate behavioral ability and key behavioral indicators, so as to clarify the behavioral ability requirements of posts. For example, the behavioral skills required for a sales manager include customer orienta on, achievement orienta on, communica on skills, and rela onship management. (4) Engagement: Engagement refers to the degree of dedica on of employees to work, which is an indispensable condi on for employees to achieve personal performance excellence and an important factor a ec ng performance. In short, scien c and reasonable competency model is an important basis for enterprises to evaluate employees' ability, and also an important cornerstone to realize man-post matching. ti fi ti ti ti ti ti ti ti ti ti ti ti ti ti fi tt ti ti ti ti ti ti ti ti ti ff ti ti ti ti ti ti ti ti ti ti fi ti ti ti ti ti ti ff ff ti ti fi ti fi ti fi fi ti ti ti ti Page 10 of 19 BOH4M Final Exam April 2017 PART D: Thinking & Inquiry - Schwartz Page 11 of 19 /12 marks Applica on – /12 marks Think about and describe a company with “good” corporate culture. In one paragraph, please write your response below. Consider the following in your response: • What are three elements of “good” corporate culture? • Why is a company successful with “good” corporate culture? • Who is a ected? • How can one change a company’s corporate culture to be successful? • Describe three strategies the company could use. The core of Apple's original culture is a value that encourages innova on and risktaking. Since its incep on, the ny Apple Computer has caused two revolu ons in technology, forcing every computer company from IBM to Microso to jump on the bandwagon it started. Not only have they been innova ve, in fact, they have been doing things their own way, taking risks and even going against the grain. The company's mo o is to make your own inven ons, don't care what others say, one person can change the world. It was this fearlessness that led the company to introduce the Macintosh computer, the mouse locator and the graphical representa on that made it so popular. The company has always prided itself on this spirit of originality. In its early days, the company hoisted the pirate ag from its roof, declaring, "I'm di erent." Yet it is precisely these values that have made Apple successful. First, a ach importance to design Apple, more than any other company, has designed its products to meet consumer needs and then achieved those goals. The design wasn't easy, but Apple managed to get it right every me. Second, a ach importance to innova on In Apple, it adopts a highly focused product strategy, strict process control, and breakthrough innova on, which is re ected in produc on. Many people consider Apple to be the most innova ve company in the world. It is Apple's emphasis on innova on that has invigorated the company. Third, a ach importance to talent The company selects the best technical personnel and management personnel, and selects the most suitable candidates. Apple a aches great importance to talents, which is one of the manifesta ons of Apple's corporate culture. Fourth, believe in yourself Apple believes it's the best company in the world, the strongest company in the world, and apple has always believed it's the best company in the industry. With con dence, with a rm belief, the company will have the power to move forward. Fi h, never give in The biggest characteris c of Apple's culture is that it never accepts defeat. Even when the company encounters some risks, Jobs always turns the situa on around with his years of opera ng experience and correct strategies, making the company gain pro ts. fi fi ti ti fl ft ti ti ti ti ti tt ti fl ti ti ti ti ti ti tt ff ti ti ti tt ff tt tt ti fi ft Page 11 of 19 BOH4M Final Exam April 2017 Schwartz Page 12 of 19 Apple's huge gains today are the result of apple never giving up, which is also one of the performance of the company's culture. Sixth, sales channels Another characteris c of Apple's corporate culture is to develop sales channels. Apple has its own monopoly dealers in many countries in the world and a aches great importance to the sales link and the promo on of its products. Seventh, pay a en on to details In the process of produc on and opera on, Apple pays more a en on to its own details. For example, Google's opera ng system sells well, but a er using it for a period of me, apple's opera ng system is be er than Apple's and has some shining points. In most cases, Apple goes a li le bit extra, and it's that extra bit of e ort that makes Apple successful, and it's a sign of apple's a en on to detail. Eighth, give play to unique features Apple targeted the consumer market with its own features, such as a translucent, jellylike blue body introduced in 1998 that quickly became a fashion icon. This is the embodiment of Apple to play its own characteris cs, but also the performance of corporate culture. Ways to reshape corporate culture Shape thought through uni ed ac on. Unity of ac on is the best way to manage a team, a pure team. You should not think of doing ideological work for one person or another. For the whole, the unity of ac on must be greater than the correc on of thought. If everyone has so many ideas, you need to explain them one by one. Well, I think you might end up being able to be a thinker, but not a real one. What the enterprise needs is not such a thinker, but a team, organiza on and culture that can take uni ed ac ons to improve the organiza onal e ciency of the enterprise, its execu ve power, credibility and so on. So don't try to manage ac on by unifying thought, but reshape thought by unifying ac on. As I men oned in the previous example of three months of training for new recruits, don't think about how much reasoning you have to give rst, of course, but the main thing is that intensive training is needed to shape the mind through uni ed ac on. 2. Establishment of corporate culture mechanism and system. A good corporate culture, a good organiza onal culture, the system and mechanism behind the guarantee. Just as in 800 BC, there is a story called "standing wood for faith". At that me, the decrees of Shang Yang's reform of the State of Qin during the Warring States period of China were ready, but not announced. Fearing that the people would not believe him, he erected a three-zhang-high log outside the south gate of the capital market. And put up a no ce: Whoever can carry the s ck to the north gate of the market, give him twelve ounces of gold. "Standing wood for trust", this is actually to create a commitment, we trust each other such a culture. Enterprise management needs to use these systems, mechanisms and ti fi ti ff fi tt ti ti fi ft tt ti ti tt ti tt ti ti ti ti ti tt ti ti ti ffi ti fi ti ti ti ti ti ti tt ti ti ti ti ti Page 12 of 19 BOH4M Final Exam April 2017 Schwartz Page 13 of 19 regula ons to make everyone trust each other and follow this rule, which is the building of enterprise culture. To rebuild a culture of trust, you must strictly implement every thing, every oral and wri en contract between the management team and employees, and every contract between the company and employees. As me goes by, a culture of trust will be rebuilt in the enterprise. Why can't the performance assessment in many enterprises be pushed down? Because employees don't trust you, employees think you're skimping on their wages, execu ves and bosses think you're only doing so much, as if the numbers in the newspaper are fake... It's a rela onship of mutual distrust. Therefore, in order to reshape the enterprise culture, it is necessary to establish corresponding mechanisms and systems. In fact, this is also the second level of the three levels of corporate culture I talked about. 3, sustainable, long to implement. Many enterprises established for many years, or very anxious, with a slogan, take a banner, take a word to try to change the thinking of employees, so it is o en seen that many enterprises in the implementa on of this or that learning month. To learn the philosophical management concept of Mr. Inamori Kazuo, to learn the management concept of Haier Zhang Ruimin...... I'm not against doing this. I think it's just icing on the cake. In fact, what companies really need to learn is themselves, right inside the company. Do not try to use a slogan, a concept to reshape the corporate culture. The enterprise culture should be reshaped through hundreds of ac ons that everyone keeps doing and insists on doing. Only by doing them con nuously can they be formed. The ac ons that cannot be sustained and done for a long me are certainly not the best ac ons to reshape the enterprise culture. Conclusion: Corporate culture is not something ethereal and indescribable. It is directly re ected in the behavior and way of doing things of employees. Enterprises should know how to shape a posi ve corporate culture. In the process of reshaping corporate culture, don't mistake slogans for culture, don't try to manage ac ons by unifying ideas, and don't take spiritual culture as the whole of corporate culture. But to shape the thought through uni ed ac on, with the establishment of mechanism, system to do the guarantee, and sustainable, long-term implementa on. Over me, the enterprise will form a benign corporate culture. ti ti ft ti ti ti ti ti ti ti ti fi ti ti ti fl ti ti tt Page 13 of 19 BOH4M Final Exam April 2017 Schwartz Page 14 of 19 Page 14 of 19 BOH4M Final Exam April 2017 Schwartz Page 15 of 19 Page 15 of 19 BOH4M Final Exam April 2017 Schwartz Page 16 of 19 Page 16 of 19 BOH4M Final Exam April 2017 Schwartz Page 17 of 19 Page 17 of 19 BOH4M Final Exam April 2017 Schwartz Page 18 of 19 Page 18 of 19 BOH4M Final Exam April 2017 Schwartz Page 19 of 19 Page 19 of 19