MGMT EXAM 3

Question 1

Analytics

Answer 1

Systematic Gathering and Processing of Date

Question 2

Decision Making Model Step 1

Answer 2

IDENTIFY A PROBLEM: problem is an obstacle that makes it difficult to achieve a desired goal or process

Question 3

Decision Making Model Step 2

Answer 3

IDENTIFY THE DECISION CRITERIA: factors that are important to resolving the problem

Question 4

Decision Making Model Step 3

Answer 4

ALLOCATE WEIGHTS TO THE CRITERIA: if the relevant criteria are not equally important, the decision maker must weight the items in order to give them the correct priority in the decision

Question 5

Decision Making Model Step 4

Answer 5

DEVELOP ALTERNATIVES: list viable alternatives that could solve the problem

Question 6

Decision Making Model Step 5

Answer 6

ANALYZE ALTERNATIVES: using criteria established in step 2

Question 7

Decision Making Model Step 6

Answer 7

SELECT AN ALTERNATIVE: choose alternative that generated the highest total in step 5

Question 8

Decision Making Model Step 7

Answer 8

IMPLEMENT THE ALTERNATIVE: put chosen alternative into action

Question 9

Decision Making Model Step 8

Answer 9

EVALUATE DECISION EFFECTIVENESS: evaluate result or outcome of decision to see if the problem was resolved

Question 10

Structured Problems

Answer 10

straightforward, familiar, and easily defined problems

Question 11

Programmed Decisions

Answer 11

repetitive decisions that can be handled by a routine approach

Question 12

Unstructured Problems

Answer 12

problems that are new or unusual and for which information is ambiguous or incomplete

Question 13

Nonprogramed Decisions

Answer 13

unique and nonrecurring, and involve custom made solution

Question 14

Rational Decision Making

Answer 14

choices that are logical and consistent and maximize value

Question 15

Bounded Rationality

Answer 15

decision making that is rational, but limited (bounded) by an individuals ability to process info

Question 16

Satisficing

Answer 16

accepting solutions that are satisfactory, sufficient, or good enough

Question 17

Intuitive Decision Making

Answer 17

making decisions on the basis of experience, feelings, and accumulated judgement

Question 18

Biases/ Heuristics

Answer 18

mental shortcuts

Question 19

Common Decision Making Biases

Answer 19

• overconfidence
• immediate gratification
• anchoring effect
• selective perception
• confirmation
• framing
• availability
• representation
• randomness
• sunk costs
• selfserving
• hindsight

Question 20

Motivation

Answer 20

process by which a persons efforts are energized, directed, and sustained toward attaining a goal

Question 21

Hierarchy of Needs Theory

Answer 21

Maslow’s theory that innate human needs form a hierarchy

Question 22

Maslow’s Lower Level Needs

Answer 22

Physiological Needs- a person’s need for food, drink, shelter, sexual satisfaction, and other physical needs
Safety Needs- Persons need for security and protection from physical and emotional harm

Question 23

McGregor’s Theory X

Answer 23

assumption that employees dislike work, are lazy, avoid responsibility, and must be coerced to performM

Question 24

McGregor’s Theory Y

Answer 24

assumption that employees are creative, enjoy work, seek responsibility, and can exercise self direction

Question 25

McClelland's Three Needs Theory

Answer 25

motivation theory that stays three acquired needs- achievement, power and affiliation- are major motives in work

Question 26

Need For Achievement (McClelland) (nAch)

Answer 26

the drive to succeed and excel in relation to a set of standards

Question 27

Need For Power (McClelland) (nPow)

Answer 27

the need to make others behave in a way that they would not have behaved otherwise

Question 28

Need For Affiliation (McClelland) (nAff)

Answer 28

the desire for friendly and close interpersonal relationships

Question 29

Reinforcement Theory

Answer 29

behavior is a function of its consequences

Question 30

Equity Theory

Answer 30

an employee compares his or her job's input- outcomes ratio with that of relevant others and then corrects any inequity

Question 31

Expectancy Theory

Answer 31

an individual tends to act in a certain way based on the expectation that the act will be followed by a given outcome and on the attractiveness of that outcome to the individual

Question 32

Control process

Answer 32

three step process of measuring actual performance, comparing actual performance against a standard, and taking managerial action to correct deviations or inadequate standards

Question 33

Control Process Step 1

Answer 33

MEASURING ACTUAL PERFORMANCE- how we measure, what we measure

Question 34

Control Process Step 2

Answer 34

COMPARING ACTUAL PERFORMANCE AGAINST THE STANDARD- the acceptable parameters of variance between actual performance and the standard

Question 35

Control Process Step 3

Answer 35

TAKING MANAGERIAL ACTION- correct actual performance

Question 36

Feedforward Control

Answer 36

Control that takes place before a work activity is done

Question 37

Concurrent Control

Answer 37

Control that takes place while a work activity is in progress

Question 38

Feedback Control

Answer 38

Control that takes place after a work activity is done

Question 39

Ratio Analysis

Answer 39

liquidity, leverage, activity, profitability

Question 40

Budget Analysis

Answer 40

quantitative analysis, deviations

Question 41

Balanced Scorecard/Benchmarking

Answer 41

a performance measurement tool that looks at more than just financial perspecitve

Question 42

Substitutes for Leadership

Answer 42

high levels of experience, education, training, professional orientation

Question 43

Leadership Neutralizers

Answer 43

indifference toward organizational rewards

Question 44

Ethical Leadership

Answer 44

puts public safety ahead of profits, holds culpable employees accountable, and creates a culture in which employees feel that they could and should do a better job

Question 45

Authentic Leadership

Answer 45

leaders who know who they are, know what they believe in, and act on those values and beliefs openly and candidly

Question 46

Charismatic/Visionary Leader

Answer 46

an enthusiastic, self confident leader whose personality and actions influence people to behave in certain ways

Question 47

Transactional Leader

Answer 47

leaders who lead primarily by using social exchanges

Question 48

Transformational Leader

Answer 48

leaders who stimulate and inspire followers to achieve extraordinary outcomes

Question 49

Hersey and Blanchard's Situational Leadership Theory

Answer 49

focuses on followers' readiness

Question 50

SLT Styles

Answer 50

Telling, selling, participating, delegating

Question 51

Behavioral Theories

Answer 51

leadership theories that identify behaviors that differentiate effective leaders from ineffective leaders

Question 52

Leadership Traits

Answer 52

- research focused on identifying personal characteristics that differentiated leaders from non leaders was unsuccessful

Question 53

House path goal

Answer 53

a leader's behavior is contingent to employee satisfaction, employee motivation and employee performance.

Question 54

Managerial Grid

Answer 54

country club, middle of the road, team, impoverished, authority compliance