PRINCIPLES OF MANAGEMENT $1)$ Explain the following with an example: $(10*3=30$ Marks$)$

a$)$ Therbligs

b$)$ Esprit de corps

c$)$ Equity

d$)$ Extinction by Instinct

e$)$ Vividness Bias

f$)$ Sunk cost Bias

g$)$ Dynamic Capabilities of a firm

i$)$ Vroom$$s Expectancy Theory

j$)$ Self$-$Concept

k$)$ Learning Organization

$2)$ Armor Lubricants Manufacturer is one of the fastest growing manufacturer of engine oil and

other high$-$quality lubricants in the UAE. The quality control inspector at Armor checks a

sample of packaged and ready to ship $1$L engine oil bottles on a daily basis. Based on the data

given below, use the control chart for X bar and comment on the stability of the process by

representing the control chart. You may use the necessary constants such as A$2=2\mathrm{.}62,$ A$3=2\mathrm{.}14,$

D$3=1\mathrm{.}24,$ D$4=3\mathrm{.}25.[6$ Marks$]$

Day$1$ Day$2$ Day$3$ Day$4$

Weight

$($Liter$)$

$94310151127920$

$9249271018910$

$1004933906923$

$802955928911$

$9201119923926$

$3)$ A potential investor likes to invest his money in any of the three financial instruments such

as stocks, bonds and commercial papers. His investment decisions are influenced by the state

of the economy such as growing, stable and declining and their corresponding probabilities are

$0\mathrm{.}3,0\mathrm{.}4$ and $0\mathrm{.}3.$ The cost$-$based payoffs for investment alternatives are stocks $(36,74,16),$ bonds

$(29,32,41)$ and commercial papers $(62,42,39).$ The investor is confused with all the given

data and seeks to hire a consultant for advice. How much maximum does the investor can pay

the consultant to get the perfect advice? $[6$ Marks$]$

$4)$ Explain the key contributions of classical approach of management and how today$$s

managers use the findings of it$?[6$ Marks$]$

$5)$ Baseball has long been called $$America$$s national pastime$,$ now the game of baseball can

probably be better described as America$$s number crunchers. Take, for instance, Sandy

Alderson, the general manager of the New York Mets. He explained the team$$s decision to let

batting champion and free agent shortstop Jose Reyes go to the Miami Marlins. $$I$$m happy

with the analysis we used and the strategy we pursued.$$ As he made this announcement, three

members of his baseball operations staff stood by with their laptops open and ready to provide

any needed data. A baseball writer has described the sport$$s move to data analysis this way:

$$Don$$t overlook the increasing value of facts, figures, and other data $...$ and the people who

interpret them.$$As the $2011$ film Moneyball $($based on an earlier book by the same name$)$

emphasizes, statistics$$the $$right$$ statistics$$are crucial aspects of effective decision making

in the sport of baseball. The central premise of Moneyball was that the collected wisdom of

baseball insiders $($players$,$ managers, coaches, scouts, and the front office$)$ had pretty much

been flawed almost from the onset of the game. Commonly used statistics$$such as stolen

bases, runs batted in$,$ and batting averages$$ that were typically used to evaluate players$$

abilities and performances were inadequate and poor gauges of potential. Rigorous statistical

analysis showed that on$-$base percentages and slugging percentages were better indicators of a

player$$s offensive potential. The goal of all this number crunching? To make better decisions.

Team managers want to allocate their limited payroll in the best way possible to help the team

be a winner. The move to more systematic data usage can also be seen in college baseball. At

this level, coaches have long used their faces $($touching their ears, noses, and chins at a

$$dizzying speed$)$ to communicate pitch selection to the catcher. Now, however, hundreds of

college teams at all levels have abandoned these body signals and are using a system in which

the coach yells out a series of numbers. $$The catcher decodes the sequence by looking at a

chart tucked into a wristband$$the kind football quarterbacks have worn since $1965$and then

relays the information to the pitcher the way he always has.$$ Coaches say this approach is not

only faster and more efficient, it$$s not decipherable by $$dugout spies$$ wanting to steal the

signs. Since the method allows for many combinations that can mean many different pitches,

the same number sequence won$$t be used for the rest of the game$$and maybe not even for the

rest of the season.

$5$a$)$ In a general sense, what kinds of decisions are made in baseball? Would you characterize

these decisions as structured or unstructured problems? Explain. What type$($s$)$ of decisionmaking condition would you consider this to be$?$ Explain. $[4$ Marks$]$

$5$b$)$ Is it appropriate for baseball managers to use only quantitative, objective criteria in

evaluating their players? What do you think? Why? $[4$ Marks$]$

$5$c$)$ Describe how baseball front office executives and college coaches could use each of the

following to make better decisions: $($a$)$ rationality, $($b$)$ bounded rationality, $($c$)$ intuition, and

$($d$)$ evidence$-$based management. $[4$ Marks$]$