Questions and Answers of Principles Of Management

Describe management by objectives as a philosophy and as a management tool/technique; describe its effects.
Differentiate between the execution of the planning and controlling activities under control- and involvement-oriented management practices.
What do we mean by management of technology and innovation (MTI), and why is it crucial?
How do we define technology and innovation, and how are they related?
Each of the following statements is a goal or objective, but it is not expressed very clearly. Rewrite each statement as a SMART goal, and be ready to explain what you had to change to make it
You are the CEO of a company that produces high-end laptops for gaming. You have heard that there is interest in your product from international customers. You need to decide how to enter the
Based on the reading in this chapter, defend or attack this statement that would be stated by a direct report:Management is unethical because it is about manipulating workers.
You have recently completed a leadership development program, and your company has given you a retail store to manage. The employees at your store are diverse in terms of age, race, gender, and
Interface, Inc. is the world's largest manufacturer of carpet tile. Headquartered in Atlanta, Georgia, the global company manufactures the kind of carpet that millions of commercial buildings of all
What is the difference between a firm’s vision and its mission?
Describe the three levels of strategy and what a manager developing strategy at each level is concerned with.
You have probably experienced a situation in which you were not happy with the service you received as a customer of a business. Put yourself in the shoes of the manager of a business, and think
Entrepreneurs must be strategic thinkers in order to develop the plans and objectives necessary to start a business that will last. Imagine you are starting a new music-streaming service. You have
Why is strategic analysis important to strategy formulation?
Give an example for why a firm would pursue each of the three grand strategies.
Your company is interesting in exploring international expansion into Africa. Visit the African Union’s website at https://au.int/en/. What are some of the countries included in the African Union?
Why is an understanding of cultural stereotyping important, and what can students do to prepare for cultural stereotyping by looking at social institutions?
How is the GLOBE project different from the Hofstede project of cultural dimensions? What are the main findings of the study?
Your company is interested in exploring investments in several sectors in Zimbabwe. Because of political instability, you are obviously very reluctant given the risks of doing business in that
What steps can you take to be better prepared for cross-cultural assignments?
What are country clusters? Pick any three clusters and discuss some of the leadership preferences for each cluster.
You will be sending one of your employees to several new countries for short-term assignments. You need to decide between low-rigor cross-cultural training and high-rigor cross-cultural training.
What are the main strategies that companies can use to go international?
Compare and contrast low-rigor versus high-rigor cross-cultural training. Provide some examples of each type of training.
Why might it be necessary for a company to go international, and how might it accomplish this goal?
What is predeparture cross-cultural training? What is postarrival cross-cultural training? Which method works best and why?
What is a global strategy? When do companies prefer a global strategy?
Compare and contrast a global, regional, and local strategy. Discuss some advantages and disadvantages of each method.
What are the various means available to companies to go international? When is an exporting strategy most appropriate?
Why do people become entrepreneurs, and what are the different types of entrepreneurs?
What are the differences between classic, multipreneurs, and intrapreneurs?
Vic Ahmed is no stranger to business start-ups; he’s been involved in at least 15 or 20. But his latest venture is a start-up … for start-ups. Ahmed founded Innovation Pavilion, a business
What characteristics do successful entrepreneurs share?
What are the first steps to take if you are starting your own business?
Why does managing a small business present special challenges for the owner?
What are the advantages and disadvantages facing owners of small businesses?
How does the Small Business Administration help small businesses?
What trends are shaping entrepreneurship and small-business ownership?
What is strategic analysis, and why do firms need to analyze their competitive environment?
Elon Musk cofounded Tesla in 2003 with the vision of making electric cars that could rival, and even replace, traditional gas-engine cars in the consumer marketplace. At the start of the 21st
Why do managers use strategic analysis?
Assume that you have been hired by a local small-business consulting firm. You have been asked by your boss to review a proposal from a client who is considering opening a new Pilates and yoga studio
Select three different businesses from different industries, such as a hospitality business (hotel, restaurant, fitness center), a manufacturing company, and a not-for-profit business. Perform a SWOT
What is a SWOT analysis, and what can it reveal about a firm?
What information does a SWOT analysis provide managers? What information might it miss?
Your instructor may assign you to a small group, and you will receive either a "Team A" or "Team B" assignment. Team A groups will need to meet for 15 minutes in a face-to-face setting, while Team B
Perform a quick PESTEL analysis of the companies listed below. What is the largest risk for each of the Chapter 8 Strategic Analysis: Understanding a Firm’s Competitive Environment 275 companies?
What makes up a firm’s external macro environment, and what tools do strategists use to understand it?
Describe a firm’s macro environment and how managers use PESTEL to understand it.
Set up an interview with a manager at a local business who is involved in the strategic planning process at her company. Ask her what type of planning she is involved in (strategic, operational).
Technology has the ability to disrupt industries. You are involved in an industry that is undergoing change and disruption by taking this class. The traditional textbook industry is being disrupted
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?

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