Questions and Answers of Principles Of Management

What makes up a firm’s external micro environment, and what tools do strategists use to understand it?
What is a firm’s micro environment, and why is it important?
How and why do managers conduct an internal analysis of their firms?
What is an industry, and how do Porter’s Five Forces help a manager trying to understand a firm’s industry environment?
What does it mean to compete with other firms in a business environment, what does it mean when a firm has a competitive advantage over its rivals, and what generic strategies can a firm implement to
What are firm resources and capabilities, and what information does VRIO provide about them?
What elements go into determining a firm’s strategic position?
When does a firm have a competitive advantage over its rivals?
What are generic competitive strategies, and how are they implemented in a firm’s value chain activities?
What do strategic group members have in common with each other? What impact do firms outside a strategic group have on those in that group?
How does strategic analysis help a firm develop its own strategic position? Why should that position be unique?
What is the strategic management process?
What does a mission statement explain about a firm that a vision statement does not?
What is power distance? What are the implications of power distance for how management is conducted in different societies?
What types of values affect business ethics at the individual level?
What is normative ethics?
Would you rather work for a company that takes a stakeholder or stockholder approach in its dealings with customers, employees, suppliers, and other constituencies in its network? Explain.
One of your direct reports thinks that you are not acting responsibly or in the best interests of the company with him or the department in which you work. The direct report has informed you that
What are major ethical principles that can be used by individuals and organizations?
Why are values an important element of ethics for individuals and organizations?
What are some principles (from the chapter) that leaders and managers can use to guide their actions in ethical ways?
You learn that a woman in your department has complained about sexually improper advances toward her by your boss and another more senior person above that boss. You know the woman but not well. She
Why is ethical leadership important in organizations?
What can organizational managers and leaders learn with regard to organizational cultures that would inspire and motivate employees to do the right thing in their work?
Your department boss wants you to select a few others in your organization to explore adopting corporate social responsibility practices. Some of your friends think that CSR isn't effective and in
What are the differences between values-based ethics and compliance in organizations?
Can an individual be ethical without using ethical principles described in the chapter? Explain.
What type of leaders and leadership styles and practices often lead to problems with employees, customers, and other stakeholders and stockholders?
What value do CSR (corporate social responsibility) programs offer to organizations and society?
Identify major classical ethical principles.
Describe how a leader, manager, and employee might think and act differently if their organization seriously adopted and practiced doing business with a corporate social responsibility mindset.
What are ethical issues we encounter in the global environment?
Differentiate between the principle of rights and utilitarianism and between justice and universalism.
What are some concerns that have ethical implications that a leader, manager, or employee might have when doing business internationally or globally?
Identify forecasts about contemporary ethical and corporate social responsibility issues.
Why is leadership important for ethical conduct in corporations?
After reading the section in the chapter on ethical and compliance trends going forward, what top two or three things do you think organizational leaders and managers would want to take action on
Identify two types of ethical leaders and the important role each plays.
What is the difference between ethics and compliance in organizations?
What is CSR, and why is it important?
What is stakeholder management?
What is different about ethics in a global or international context and ethics in a national context or setting?
Identify some contemporary ethical and compliance trends affecting corporations, employees, and individuals now.
What are some global issues that corporations must face today, and why are these important?
What is a moral entrepreneur?
Does ethics pay? Explain.
After reading this chapter, what are major insights you have about ethics and CSR?
Why is it important to understand and appreciate the importance of international management in today’s world?
Why is international management a critical area that all management students should be aware of?
SAP is a German multinational specializing in enterprise application software. The company was founded by five engineers, and the company is now the world's leading business software maker. Through
What is culture, and how can culture be understood through Hofstede’s cultural framework?
Briefly describe the main cultural dimensions of Hofstede’s framework. Where does the U.S. stand on each of the dimensions?
Visit Hofstede’s cultural dimensions website at https://www.hofstede-insights.com/models/nationalculture/. Pick two countries and compare them with the United States on the cultural dimensions. How
How are regions of the world categorized using the GLOBE framework, and how does this categorization enhance understanding of cross-cultural leadership?
What is the difference between ethics and business ethics?
What are some advantages and disadvantages of leaders, managers, and employees having and working with a principle-centered approach (using some ethical principles in the chapter) rather than taking
You are a manager, and your boss—who is also a friend—has reprimanded a fellow employee (also a friend) in ways that are demonstrably unfair and unethical but not illegal. That employee has
The Wells Fargo recent crisis over mismanaging customer relationships, fraudulently implementing illegal and unethical sales practices with trusted clients, has cost the company in fines, lost
Use the strategy cycle (Exhibit 9.3) to outline a strategy for yourself. What is your personal vision and mission? Analyze your current situation, and develop three personal, professional, or
What are strategic objectives, levels of strategy, and a grand strategy? How are they related?
What actions can help a firm grow?
How and why do managers plan? Why are goals important in the planning process?
What managerial skills and actions are included in the planning process?
How and why do managers evaluate the effectiveness of strategic plans?
Why are good goals important to the planning process?
What are the strategic planning time frames? How do they work together?
Why is performance measurement often the start of new strategy development?
What are mechanistic versus organic organizational structures?
Place yourself in the position of a CEO who is contemplating a reorganization of your company and has received conflicting opinions from two of your trusted reports. Presently you are a wholesaler
What are the roles that managers play in organizations?
How did the Industrial Revolution change business and the economy?
Which management scholar matches your viewpoints on the role of management?
How did Frederick Winslow Taylor influence management theory, and how did efficiency in management affect current management theory?
Describe scientific management. How was scientific management different from management techniques that came before it?
How do bureaucratic and administrative management complement scientific management?
Who were the key contributors to scientific management?
How did Elton Mayo influence management theory, and how did the human relations movement affect current management theory?
Describe the Hawthorne studies. Was Elton Mayo a humanist?
How did contingency and systems management transform management thought?
What is the zone of indifference?
Describe Follett’s concept of conflict resolution.
What does open systems say about management?
What is contingency management?
Define the external environment of organizations.
Identify contemporary external forces pressuring organizations.
Identify different types of organizational structures and their strengths and weaknesses.
Explain how organizations organize to meet external market threats and opportunities.
Identify the fit between organizational cultures and the external environment
Identify environmental trends, demands, and opportunities facing organizations.
What are ethics and business ethics?
How did the Industrial Revolution affect the progression of management theory?
What are the basic characteristics of managerial decision-making?
What are the two systems of decision-making in the brain?
What is the difference between programmed and nonprogrammed decisions?
What barriers exist that make effective decision-making difficult?
How can a manager improve the quality of her individual decision-making?
Describe management in the ancient world.
What contributions did ancient civilizations make to management thought?
Which management scholar do you find to be the most influential and important, and how would you incorporate their approach into your managerial approach?
How did the Italian Renaissance affect the progression of management theory?

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