MGT1FOM Exam Preparation

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gecalder
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MGT1FOM Exam Preparation
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2012-06-09 06:54:05
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MGT1FOM Exam Preparation
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  1. 1) The primary value of the ___________ approach is that it stresses that there are no simplistic or universal rules for managers to follow in doing their jobs.

    A) systems
    B) traditional
    C) contingency
    D) functional
    E) command-and-control
    C
  2. 2) Which of the following is not a characteristic of modern organisational form?

    A) decentralisation
    B) a clear chain of command
    C) cross-functional teams
    D) low formalisation
    E) wide spans of control
    B
  3. 3) ___________ is a cultural dimension in which people are supposed to look after their own interests and those of their immediate family.

    A) Power distance
    B) Collectivism
    C) Quantity of life
    D) Uncertainty avoidance
    E) Individualism
    E
  4. 4) The original source of an organisation’s culture is most strongly associated with:

    A) the make-up of organisational members when the organisation was established
    B) political factors in the external environment
    C) the vision of the organisation’s founder
    D) overseas influences
    E) general economic trends
    C
  5. 5) In a matrix organisation, the organisational structure is most likely to:

    A) encourage specialist from different areas to work on a project basis
    B) have eliminated the concept of divisions and departments and works purely on a project basis
    C) use a more rigid hierarchical structure with clearly defined role specifications
    D) believe in keeping all projects to a divisional-based structure
    E) none of the above
    A
  6. Compare and contrast two corporate-level business strategies.
    Strategy is the direction and scope of an organisation over the long-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfil stakeholder expectations.

    Corporate Strategy - is concerned with the overall purpose and scope of the business to meet stakeholder expectations. This is a crucial level since it is heavily influenced by investors in the business and acts to guide strategic decision-making throughout the business. Corporate strategy is often stated explicitly in a "mission statement".

    There are several ways of responding to this question: two are as follows:

    • Single product strategy – Related diversification – Unrelated diversification
    • BCG matrix: Stars – Question marks – Cash cows – Dogs
  7. Through contemporary business examples, explain the importance of communication in effective leadership.
    Leaders cannot exist without followers. To gain followers, leaders must offer a vision that appeals to followers or, at the very least, something that followers do not have in the first place. Communication of the vision is crucial, as is how to reach that vision.

    • Communication involves sending a message to a receiver using one or more types of media. Communication may be formal, as in the case of a letter, memorandum, and approved minutes, or informal, as in the case of the grapevine or current social networking sources.
    • Examples of the importance of effective communication could be illustrated by reference to the 2012 Qantas dispute. In this instance and due to poor internal communication, industrial action was taken and thousands of passengers were stranded suggesting that they would never fly with the airline again. Another example could relate to Michael Clarke in the leadership/captaincy of the Australian cricket team. For success, his bowlers and fielders need to know the proactive and reactive plans and tactics being used against each opponent batsmen. Without this they are likely to be working as individuals and not achieve cohesiveness and excellence in operational performance.
  8. Neill is a designer of t-shirts and has built his business up after years of selling his products at Sunday markets and through the internet. Stores were opened in Melbourne, Sydney, Brisbane and Adelaide and he employs a total of 30 people across the outlets.

    Despite appearances of hard work and success, Neill remains a very laid-back individual who has attributed his success to ‘luck’ more than anything else. That some stores operate at a loss does not worry him too much as he remains optimistic about improvements in financial position. He credits his various managers – most of his staff have some managerial title – with keeping things going and allowing him the time to indulge in his passions for surfing and golf. Day-to-day management does not really interest him.

    Neill’s mother Martha is an experienced manager and has looked into Neill’s business. She is not impressed. All managerial staff are paid the same rate, irrespective of individual and store performance. Stores in fashionable areas like Northcote struggle, while the one in Narre Warren does spectacular business. Staff at some stores spend most of their day on Facebook and Twitter while customers walk out after being ignored. Neill does not call managers together for meetings all that often, so staff at stores do not know what their counterparts are doing elsewhere. Recent designs appear to follow trends rather than lead them, leaving Neill’s stock looking a little tired. Major clothing chains located near Neill’s stores appear to have new stock every week.

    Martha is aware that Neill has had offers to start businesses in New Zealand, Singapore and Hong Kong. Her son is excited by the opportunities but is privately ‘freaking out’ about being a ‘proper manager’. Neill has intimated that he does not want to be a ‘control freak’, but knows that he may have to shut down stores to realise his dream of going international. Too intimidated to talk to anyone about it, he heads off to the beach to catch a wave. Maybe it’s just too much for him.

    Questions:

    Martha thinks it is time to talk with her son. She will discuss the following matters:

    16) Two theoretical alternatives for motivating staff to improve performance.
    17) How the organisation could be restructured and jobs redesigned to improve efficiency and effectiveness.
    18) Changes that Neill may need to make to organisational strategy.
    19) Two issues relating to modes of entry into foreign markets.

    To convince Neill, Martha must explain why these points are relevant to the survival and success of his business and how her arguments are supported by management theory.


    16) Two theoretical alternatives for motivating staff to improve performance.
    What are current staff not getting? Are they paid poorly? Do they value other things such as flexible working hours, travel, training opportunities? Pay does not appear to have any relationship to performance. This is an obvious starting point. Also, if most staff are managers, who needs to aspire to the title? A clearer hierarchy and progression path is needed.

    • Content theories focus on the needs that motivate people – what is it that is not being satisfied?
    • - Maslow’s hierarchy of needs
    • - Alderfer’s ERG theory
    • - Herzberg’s two-factor theory
    • - McClelland’s acquired needs theory

    • Process theories focus on the behaviours that individuals adopt in order to meet needs – how do people satisfy needs?
    • - Adams’ equity theory
    • - Vroom’s expectancy theory
    • - Locke’s goal-setting theory
  9. Neill is a designer of t-shirts and has built his business up after years of selling his products at Sunday markets and through the internet. Stores were opened in Melbourne, Sydney, Brisbane and Adelaide and he employs a total of 30 people across the outlets.

    Despite appearances of hard work and success, Neill remains a very laid-back individual who has attributed his success to ‘luck’ more than anything else. That some stores operate at a loss does not worry him too much as he remains optimistic about improvements in financial position. He credits his various managers – most of his staff have some managerial title – with keeping things going and allowing him the time to indulge in his passions for surfing and golf. Day-to-day management does not really interest him.

    Neill’s mother Martha is an experienced manager and has looked into Neill’s business. She is not impressed. All managerial staff are paid the same rate, irrespective of individual and store performance. Stores in fashionable areas like Northcote struggle, while the one in Narre Warren does spectacular business. Staff at some stores spend most of their day on Facebook and Twitter while customers walk out after being ignored. Neill does not call managers together for meetings all that often, so staff at stores do not know what their counterparts are doing elsewhere. Recent designs appear to follow trends rather than lead them, leaving Neill’s stock looking a little tired. Major clothing chains located near Neill’s stores appear to have new stock every week.

    Martha is aware that Neill has had offers to start businesses in New Zealand, Singapore and Hong Kong. Her son is excited by the opportunities but is privately ‘freaking out’ about being a ‘proper manager’. Neill has intimated that he does not want to be a ‘control freak’, but knows that he may have to shut down stores to realise his dream of going international. Too intimidated to talk to anyone about it, he heads off to the beach to catch a wave. Maybe it’s just too much for him.

    How the organisation could be restructured and jobs redesigned to improve efficiency and effectiveness.
    It appears that there is no decision-making at the top and monitoring is poor. For a period, a centralised structure may be necessary – Neill may need someone else to do this. This will reign in the lousy outlets.

    Communication channels need to be developed and go both ways. What are they doing in some stores that works well and why are they failing in other outlets? Should staff be given opportunities to communicate with the leadership? Perhaps the strugglers have their hands tied and need to let the leadership know about it.

    A staff member needs to be designated as the one with most authority in each location. It may go some way to answering the question of ‘who’s minding the store?’ Do staff need to be rotated from outlet to another? Can we start identifying star performers in the stores so we can keep the best staff if and when some outlets are closed?

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