What needs to be remembered

Question 1

Management by Objectives

Answer 1

Management by objectives involves both managers and employees collaboratively setting individual employee goals that contribute to the achievement of broader business objectives

Question 2

Management by objectives and performance appraisals and employee observation advantage #1

Answer 2

Collaboration between manager and employees when setting objectives can foster positive workplace relations

Question 3

Management by objectives and performance appraisals and employee observation advantage #2

Answer 3

Promotional opportunities may arise for employees who consistently achieve their objectives

Question 4

Management by objectives disadvantage #1

Answer 4

Employees may take harmful shortcuts in their work in order to achieve their objectives

Question 5

management by objectives disadvantage #2

Answer 5

Developing objectives that benefit both employee and business may take time

Question 6

Performance appraisals

Answer 6

performance appraisals involve a manager assessing the performance of an employee against a set of criteria, providing feedback, and establishing plans for future improvement

Question 7

performance appraisals disadvantage #1

Answer 7

employees may loose motivation if they receive multiple poor performance appraisals

Question 8

performance appraisals disadvantage #2

Answer 8

This process can be time consuming as managers individually review each employee’s performance

Question 9

Self-evaluation

Answer 9

Self-evaluation involves an employee assessing their individual performance against a set of criteria

Question 10

Self-evaluation advantage #1

Answer 10

Employers can gain insight into the employee’s understanding of their own strengths and weaknesses and assign work accordingly

Question 11

Self-evaluation advantage #2

Answer 11

Self-evaluation can save managers time, as employees evaluate their own performance

Question 12

Self-evaluation disadvantage #1

Answer 12

If an employee is biased or dishonest in assessing their performance, a manager will not gain reliable information

Question 13

Self-evaluation disadvantage #2

Answer 13

Criteria for self-evaluation process needs to be developed, and this can be time consuming for managers

Question 14

Employee observation

Answer 14

employee observation involves a range of employees from different levels of authority assessing another employee’s performance against a set of criteria

Question 15

employee observation disadvantage #1

Answer 15

results may be misleading as friends of employees may provide inaccurate feedback due to their relationship with the employee and therefore, the manager may receive unreliable information

Question 16

employee observation disadvantage #2

Answer 16

The development of criteria for observers to use can be time consuming

Question 17

Human resource management

Answer 17

HRM are individuals who coordinate the relationship between employees and management within a business

Question 18

HRM role

Answer 18

Hire candidates with the required qualities and skills to assist the business in achieving its objectives

Question 19

employer associations

Answer 19

employer associations are advisory bodies that assist employers in understanding and upholding their legal business obligations

Question 20

employer associations role

Answer 20

actively make sure employers aware of any new policies, laws or regulations that must be taken into account by the business

Question 21

Union

Answer 21

unions are organizations composed of individuals who represent and speak on behalf of employees in a particular industry to protect and improve their wages and working conditions

Question 22

union role

Answer 22

communicate the conerns and desires of employees to employers during collective bargaining with the aim to protect and improve wages and conditions

Question 23

Fair work commission

Answer 23

FWC is Australia’s independent workplace relations tribunal that has a range of responsibilities outlined by the fair work act

Question 24

FWC role

Answer 24

facilitating conversations between disputing parties in a workplace to assist them in coming to a resolution, whilst offering no opinions on the dispute

Question 25

Mediation

Answer 25

Mediation involves an impartial third party facilitating discussions between disputing parties to help each side Of the conflict reach a resolution themselves

Question 26

mediation advantage #1

Answer 26

When parties reach decisions themselves, it promotes positive working relationships for the future

Question 27

mediation advantage #2

Answer 27

both disputing parties have control over the final decision, meaning that they are more likely to be satisfied at the end of the resolution process

Question 28

mediation disadvantage #1

Answer 28

mediation does not always result in a legally binding decision, meaning that parties can go back on their agreement in the future

Question 29

mediation disadvantage #2

Answer 29

If a final decision is not reach, the mediation process can be a waste of time

Question 30

arbitration

Answer 30

arbitration involves an independent third party hearing arguments from both disputing parties and making a legally binding decision to resolve the conflict

Question 31

arbitration advantage #1

Answer 31

it guarantees that a final decision is made by a third party, enabling the business to move forward from the dispute

Question 32

arbitration advantage #2

Answer 32

Employees are not coerced into agreeing to a resolution as the likelihood of a power imbalance between disputing parties is reduced

Question 33

arbitration disadvantage #1

Answer 33

This process may harm future workplace relations if one of the disputing parties is unhappy with the final decision

Question 34

arbitration disadvantage #2

Answer 34

Arbitration is the most expensive dispute resolution process due to the costs incurred from conducting hearings

Question 35

mediation arbitration difference #1

Answer 35

mediation - not legally binding
arbitration - legally binding

Question 36

mediation arbitration difference #2

Answer 36

mediation - Disputing parties have control over final decision
arbitration - independent body makes the final decision

Question 37

Computer aided design

Answer 37

CAD is a digital software that aids the creation, modification and optimisation of a design and the design process

Question 38

CAD advantage #1

Answer 38

customers have the flexibility to modify a design to suit their needs

Question 39

CAD advantage #2

Answer 39

CAD software can speed up the product design process, as designs can be created and modified faster

Question 40

CAD and CAm disadvantage #1

Answer 40

There are high initial set up costs associated with installing CAD software

Question 41

CAD and CAM disadvantage #2

Answer 41

A business may develop a poor reputation if CAD makes employees redundant

Question 42

Computer Aided Manufacturing

Answer 42

CAM involves the use of software that controls and directs production processes by coordinating machinery and equipment through a computer

Question 43

CAM advantage #1

Answer 43

improved accuracy allows for high-quality products to be consistently produced, which can improve the business’s reputation

Question 44

CAM advantage #2

Answer 44

CAM software can speed up the manufacturing process as machinery does not have to be manually reset by humans

Question 45

Forecasting

Answer 45

Forecasting is a materials planning tool that predicts customer demand for an upcoming period using past data and market trends

Question 46

Forecasting and MPS and MRP and JIT advantage #1

Answer 46

prevents excessive ordering of materials that may go wasted if unneeded, improving the business’s sustainable reputation

Question 47

Forecasting and JIT advantage #2

Answer 47

Can reduce cost of storage as it prevents the need for a large space to store materials

Question 48

Forecasting disadvantage #1

Answer 48

Quantity of materials ordered may be incorrect as historical data and market trends may not reflect future demand

Question 49

Forecasting disadvantage #2

Answer 49

Business may need to hire forecasting specialists which increases training and wages costs

Question 50

Master Production schedule

Answer 50

MPS is a plan that outlines what a business intends to produce, in specific quantities, within a set period of time

Question 51

MPS advantage #2

Answer 51

By determining production targets, businesses are more likely to meet customer demand, which increases sales and hence net profit figures

Question 52

MPS and MRP disadvantage #1

Answer 52

It can be time consuming to map out details of production

Question 53

MPS and MRP disadvantage #2

Answer 53

Implementing and maintaining this plan can be expensive

Question 54

Materials requirement planning

Answer 54

MRP is a process that itemises the types and quantities of materials required to meet production targets set out in the master production schedule

Question 55

MRP advantage #2

Answer 55

Accurate ordering of quantities of materials required avoids excess storage and therefore reduces associated expenses

Question 56

Just in Time

Answer 56

JIT is an inventory control approach that delivers the correct type and quantity of materials as soon as they are needed for production

Question 57

JIT disadvantage #1

Answer 57

If suppliers are unreliable and fail to deliver the correct materials at the right time, production may be brought to a halt

Question 58

JIT disadvantage #2

Answer 58

Discounts from bulk buying supplies is reduced

Question 59

Pull

Answer 59

Pull is a lean management strategy that involves a customer determining the number of products a business should produce for sales

Question 60

One-piece-flow

Answer 60

One-piece-flow is a lean management strategy that involves processing a product individually through a stage of production and passing it onto the next stage of production before processing the next product, continuing this process throughout all stages of production

Question 61

Takt

Answer 61

Takt is a lean management strategy that involves synchronising the steps of a business’s operation system to meet customer demand

Question 62

Zero defect

Answer 62

Zero defects is lean management strategy that involves a business preventing errors from occurring in the operations system by ensuring there is an ongoing attitude of maintaining a high standard of quality for the final output

Question 63

Lean management advantage #1

Answer 63

A business can improve its reputation as it is actively reducing and managing waste, which benefits the environment

Question 64

Lean management advantage #2

Answer 64

Reduces overall use of materials, which leads to fewer production costs

Question 65

Lean management disadvantage #1

Answer 65

Employees may be reluctant to commit to an attitude of zero defects due to the effort and commitment required

Question 66

Lean management disadvantage #2

Answer 66

IT may be overwhelming for employees to implement lean management as there is a goal for constant improvement

Question 67

CSR consideration for inputs

Answer 67

Sourcing inputs locally, rather than from overseas suppliers, to reduce transport emissions and minimise the business’s carbon footprint

Question 68

CSR consideration for processes

Answer 68

Using technology that performs tasks in a precise and consistent manner to reduce the amount of defective products discarded in production

Question 69

CSR consideration for outputs

Answer 69

providing clear labelling on a product about appropriate methods of disposal

Question 70

Importance of leadership in change management

Answer 70

Leadership in change management is the ability to positively influence and motivate employees towards achieving business objectives during a transformation

Question 71

Strong leadership example #1

Answer 71

Shared Vision: where they act to inspire employees and inform them of the reasons and benefits of change, as well as the consequences of not changing

Question 72

Strategy to develop OCC

Answer 72

Policies (publishing an employee code of conduct) - outlines the business’s expectations of its employees as representatives of itself and what they stand for. If this is synonymous amongst all employees, this can help contribute towards the business’s official corporate culture as it reflects positive practices.

Question 73

Strategy to develop RCC

Answer 73

Business rituals (organising regular celebrations of employee contributions to the business) - this unifies the business’s employees by creating regular opportunities for recognising high standards, and positively reinforcing high work ethics.

Question 74

Senge’s learning organisation

Answer 74

Senge’s learning organisation is an organisation that facilitates the growth of its members and continuously transform itself to adapt to changing environments

Question 75

Senge’s learning organisation #1

Answer 75

Systems thinking: a management approach that considers the interrelationship between all sectors of the business

Question 76

Senge’s learning organisation #2

Answer 76

Mental models: the existing assumptions and generalizations that must be challenged so that learning and transformation can occur in an organisation

Question 77

Senge’s learning organisation #3

Answer 77

Shared vision: an aspirational description of what an organisation and its members would like to achieve

Question 78

Senge’s learning organisation #4

Answer 78

Personal mastery: the discipline of personal growth and learning, aligned with one’s values and purpose

Question 79

Senge’s learning organisation #5

Answer 79

Team learning: the collective learning that occurs when teams share experience, insights, knowledge and skills to improve practices

Question 80

management skills

Answer 80

planning, delegation, decision-making, leadership, interpersonal, communication