Introduction to Business Management Review/ ICT#3 Each team will create five short answer questions (true/ false, fill in the blank, multiple choice, etc.), as well as two “long answer questions” which require some explanation. Example: Why is the X, Y team theory no longer popular with managers? At the bottom of this document, you will see the answers section. AFTER we have reviewed each section, please upload your answers WITH PAGE/SLIDE REFERENCES to your appropriate answer section Each team will share a combination of 20 marks for the quality of their questions, the quality references, and their ability to answer the other team’s questions. QUESTION SECTION Team 1/ Ch. 1 and 3 Introduction to Management and Organizations/ Embracing Diversity and Inclusion 1. Which piece of legislation is mentioned in the historical overview of workforce diversity in Canada? a) The Canadian Affirmative Action Act b) The Canadian Human Rights Act c) The Canadian Diversity and Inclusion Act d) The Canadian Employement Equality Act Answer B) 2. Which of the following statements accurately reflects the focus of adaptability? A) B) C) D) Flexibility involves being proactive Adaptability means following a routine Efficiency requires constant reaction Flexibility means being reactive 3. Chapter 1-Why is Innovation an important factor for Managers? a) It is critical to create new and unique ideas. b) It creates online communities to share ideas. c) To be more socially responsible. 4.chapter 3:- Which demographic characteristics are typically associated with surface-level diversity? a) Differences in values, personality, and work preferences b) Age, race, gender, and ethnicity c) Differences in thought, experiences, skills, and backgrounds d) Deep-level diversity 5. Chapter 3-What percentage of Canadians aged 15 years and over had one or more disabilities in 2017? a) 5% b) 13% c) 22% d) 35% 6. How has the evolving nature of work in organizations blurred the traditional distinction between managers and nonmanagerial employees, and what are the key responsibilities that define someone as a manager in today's diverse workplace settings? Managers used to be defined as the organizational members who told others what to do and how to do it. In the past, it was easy to differentiate managers from nonmanagerial employees. Nonmanagers were organizational members who worked directly on a job or task and had no one reporting to them. Managers were those who supervised other employees. Today, the changing nature of organizations and work has blurred the distinction between managers and nonmanagerial employees. Many traditional nonmanagerial jobs now include managerial activities. Most employees are multi-skilled and are being cross trained. Within a single shift, an employee can be a team leader, equipment operator, maintenance technician, quality inspector, or improvement planner. 7. What is the glass ceiling? A) B) C) D) A type of window used in modern office buildings An invisible barrier separating women and minorities from top management positions A form of discrimination A common stereotype in the workplace Team 2/ Ch. 4 and 5 Managing in a Global Environment and Entrepreneurial Mind Set 1. 1. The main difference between a ____________ and a __________ lies in the legal structure and participation in the management of the operation. In a strategic alliance, companies maintain their legal and operational independence, while in a joint venture, they create a joint legal entity and share control and management of that entity. a. Foreign Subsidiaries, strategic alliance. b. Strategic alliance, joint venture. c. Exporting, Importing. d. Licensing, ,joint venture 2. Which of the following definitions corresponds to the strategic alliance? a. Partnership between a domestic and a foreign company in which both share resources and knowledge in developing new products or building new production facilities. b. A specific type of strategic alliance in which the partners agree to form a separate, independent organization for some business purpose. c. Giving another organization the right to use its brand name, technology, or product specifications. d. A service organization gives a person or group the right to sell a product, using specific business methods and practices that are standardized 3. What is the correct order of steps in the company building model? A) B) C) D) Customer validation, Customer discovery, Customer creation, Company-building Customer discovery, Customer validation, Customer creation, Company-building Customer discovery, Customer validation,Company-building, Customer creation Customer creation, Customer discovery, Customer validation, Company-building 4. Why Is Entrepreneurship Important? Improving the country's economy Innovation Improving the quality of goods and services Global Entrepreneurship Job Creation Possibility of great enrichment Number of new start-ups 5. A small business is an organization that is independently owned, operated, and financed and has at least 100 employees (true/false) 6. What is Multidomestic Corporation? 7. Explain the two fundamental forces discussed in the text that form the foundation for enabling global trade and their impact on the concept of globalization. Team 3/ Ch. 7 and 8 Innovation, Adaptability, Change and Decision Making 1. There are many techniques to help the organization to develop. Which one may help team members to know more about each others’ thinking and work? A - Survey Feedback B - Intergroup development C - Process consultation D - Team Building ANS: D REFERENCE: Slide #17 in Ch 7 ppt. Team Building, Team Building is an activity to help team members learn how each member thinks and works. 2. According to chapter 8, what are the four ways by which managers make decisions and what are they called? A - Command, Consult, Vote and Consensus (decision makers) B - Analytical, Behavioural, Conceptual and Directive (visionaries) C - Planning, Organizing, Leading and Controlling (decision makers) D - Planning, Evaluation, Selective and Directive (managers) ANS: C REFERENCE: Textbook page # 232, section 8.2 “Explain the four ways managers make decisions”: Quote: That’s why managers—when they plan, organize, lead, and control—are called decision makers. 3. Change is an organizational reality, and managing change is an integral part of every manager’s job. What are the external forces that create the need for change, innovation, and adaptability? A. Technology, changing employee attitudes, the marketplace, governmental law B. The marketplace, governmental law, technology, economic changes, labour markets C. Technology, economic change, new organizational strategy, labour markets, change in organizational culture D. The marketplace, governmental law, technology, change in workforce, new equipment ANSWER: B. (REFERENCE: Slide 6 of Ch 7 ppt 4. According to chapter 7, who assumes the responsibility for managing the change process at the workplace? A) B) C) D) Answer D. Team Leader Consultants Manager Change Agent. (REFERENCE: Page 202 in the textbook. Ch 7, section 7.5 “Classify areas of organizational change, and explain how to become change ready.” Quote: Organizational changes often need someone to act as a catalyst and assume the responsibility for managing the change process—that is, a change agent). 5. When you are thinking about a new job role, it is in which step in the management functions? A - Planning B - Organizing C - Leading D - Controlling ANS: B Organizing Organizing is about making decisions in human resources, organizational structure and implementation, job hiring etc, which are about employees and how their skills and functional roles would be structured to achieve the organization’s goals. (REFERENCE: Slide # 17 in Ch 8 ppt) 6. (LA) How to stimulate innovation & adaptability in Human Resource Variables? How to stimulate innovation & adaptability in Human Resource Variables? Human Resource variables should actively promote training and development to keep employees’ skills current. Also, offering high job security also will be a good way to encourage risk taking. Besides that, encouraging individuals to be “champions” of change also can be the way to stimulate innovation and adaptability. (REFERENCE: Slides #28 in Ch 7 ppt.) 7. (LA) Why is “bounded rationality” considered as a more realistic approach to the managerial decision making process than the “rational decision making” approach? Why is “bounded rationality” considered as a more realistic approach to the managerial decision making process than the “rational decision making” approach? Bounded rationality approach accepts that there are limitations on a person’s ability to interpret, process, and act on information. In the real world, managers cannot possibly know and analyze all the alternatives in the decision-making process. Usually, they have to accept solutions that are “good enough” (satisfice). That’s why bounded rationality is a more realistic approach of decision-making in managerial decision-making. (REFERENCE: Slides #22 and #23 in Ch 8 ppt. In textbook, page 233) Team 4/ Ch. 9 and 10, Planning Work and Managing Strategically 1. What are the growth strategies? (Choices) A. Concentration, vertical integration, horizontal integration, diversification B. Concentration, vertical integration and diversification C. Vertical integration and horizontal integration. 2.What are the five competitive forces (Choices) A. Threat of new entrants, threat of substitutes, bargaining power buyers and bargaining power of suppliers B. Threat of new entrants, threat of substitutes, bargaining power buyers, bargaining power of suppliers and current rivalry C. Bargaining power of suppliers and current rivalry 3. The SWOT analysis is a tool used to assess the internal and external factors that could positively or negatively impact an organization's performance. (True or false) True. The SWOT analysis is a tool used to assess the internal (Strengths and Weaknesses) and external (Opportunities and Threats) factors that could positively or negatively impact an organization's performance. 4. A process of setting mutually agreed-upon goals and using those goals to evaluate employee performance is known as competitors intelligence. (True or False) 5. What is the primary focus of SWOT analysis in the strategic management process? (Choices) A. Identifying external opportunities B. Evaluating internal strengths and weaknesses C. Formulating strategies D. Implementing strategies 6. What is Management by objectives. (MBO)? (LA) A process of setting mutually agreed-upon goals and using those goals to evaluate employee performance. 7. What is a mission statement, and what are the components of a mission statement? (LA) - A mission statement is a statement that defines an organization's purpose and values. The components of a mission statement include: customers (who are the firm's customers?), markets (where does the firm compete geographically?), concern for survival, growth, and profitability (is the firm committed to growth and financial stability?), philosophy (what are the firm's basic beliefs, values, and ethical priorities?), concern for public image (how responsive is the firm to societal and environmental concerns?), products or services (what are the firm's major products or services?), technology (is the firm technologically current?), and self-concept (what are the firm's major competitive advantage and core competencies?). These components help to define the organization's purpose and guide its decision-making. Team 5/ Ch. 11 and 15 Designing Organization Structure and Motivating Employees 1. When employees have authority to make decisions, it is known as employee empowerment. (TRUE OR FALSE) 2. In labour specialisation, who are the workers who will earn the most? A) Skilled workers B) Unskilled workers C) All of them 3. A mechanistic organization is a rigid and tightly controlled structure. (TRUE OR FALSE) 4. In the motivation process intensity, direction and persistence correspond to? A) Tension B) Effort C) Satisfied need 5. The proposition that specific goals increase performance and that difficult goals after being accepted, result in higher performance than easy goals; is known as goal-setting theory. (TRUE OR FALSE) 6. What is the kind of environment in which you want to have an organic organizational model? (LA) 7. What are some of the issues that you could face motivating the workers and how could you have effective rewards/motivation programs? (LA) ANSWER SECTION Team 1/ Ch. 1 and 3 Introduction to Management and Organizations/ Embracing Diversity and Inclusion (please include page/slide number) 1.Chapter 3, page 67 Answer (B) 2. Chapter 1, slide 35. Answer: D 3. Chapter 1, Slide 33. 4.Chapter 3, pag 67 ans: B 5. Chapter 3 pag 79 ans: C 6. (LA)chapter 1, page 3 (Who is a Manager) 7. Chapter 3, slide 21 Answer: B Team 2/ Ch. 4 and 5 Managing in a Global Environment and Entrepreneurial Mind Set 1. B. Slide #27-28 2. A. Slide #27 3. B (Slide #5-20) 4. Innovation, Number of new start-ups, Job Creation, Global Entrepreneurship (Slide #5-9) 5. False 6. (LA) 7. (LA) Team 3/ Ch. 7 and 8 Innovation, Adaptability, Change and Decision Making 1. D: Slide #17 in Ch 7 ppt. 2. C: Textbook page # 232, section 8.2 “Explain the four ways managers make decisions” 3. B: Slide 6 of Ch 7 ppt 4. D: Page 202 in the textbook. Ch 7, section 7.5 “Classify areas of organizational change, and explain how to become change ready.” 5. B: Slide # 17 in Ch 8 ppt 6. Human Resource variables should actively promote training and development to keep employees’ skills current. Also, offering high job security also will be a good way to encourage risk taking. Besides that, encouraging individuals to be “champions” of change also can be the way to stimulate innovation and adaptability. (REFERENCE: Slides #28 in Ch 7 ppt.) 7. Bounded rationality approach accepts that there are limitations on a person’s ability to interpret, process, and act on information. In the real world, managers cannot possibly know and analyze all the alternatives in the decision-making process. Usually, they have to accept solutions that are “good enough” (satisfice). That’s why bounded rationality is a more realistic approach of decision-making in managerial decision-making. (REFERENCE: Slides #22 and #23 in Ch 8 ppt. In textbook, page 233) Team 4/ Ch. 9 and 10, Planning Work and Managing Strategically 1. (Page 29, Handout Chapter 10) 2. (Page 50, Handout Chapter 10) 3. (Page 19, Handout Chapter 10) 4. (Page 20, Handout Chapter 9) 5. 6. (LA) 7. (LA) (Pages 12-13, Handout Chapter 10) Team 5/ Ch. 11 and 15 Designing Organization Structure and Motivating Employees 1. Page 325 2. Page 319 Work Specialisation 3. Page 326 4. Page 439 Motivation Process 5. Page 443 6. Page 340 (LA) 7. (LA) -Motivating in tough economic circumstances -Managing Cross-Cultural Motivational Challenges -Motivating Unique Groups of Workers And the solution for these problems could be having an open book management, creation of different kinds of recognition programs depending on the employee and pay for performance programs. PAGES 455-461 or Slides 46-56 chapter 15