MGMT$1120$ Final Exam Study Guide $1$

MGMT$1120$ FINAL EXAM STUDY GUIDE

Your final exam is comprehensive and will involve almost all the chapters from your textbook. However, most of the

exam will be on the material from the second half of the course. Please check the $$Textbook Course Material$$

document on Moodle for the exact pages covered in each chapter.

Concepts to cover while studying:

$1.$ What is Competitive Advantage, how can it be achieved and why is it important?

$2.$ What is Environmental Uncertainty and why do managers want to avoid this?

$3.$ How do organizations achieve innovation?

$4.$ What are the features of creative work environment?

$5.$ Types of Innovations

a$.$ There are three of them

$6.$ The Innovation Process

a$.$ Imagining

b$.$ Designing

c$.$ Experimenting

d$.$ Accessing

e$.$ Scaling

$7.$ What are some of the reasons why an organization would want to focus on Sustainability?

$8.$ CREST!

$9.$ What are the five steps of the Decision Making Process?

a$.$ What are their characteristics?

$10.$ What are the three problem solving styles for managers?

$11.$ Who are Stakeholders and why are they important to managers?

$12.$ What are Ethics and Ethical Behaviour? How are they related to Laws and Values?

$13.$ What are the four Alternative Views of Ethics?

$14.$ What are Cultural Relativism and Universalism and why is this important to managers?

$15.$ What are some examples of Ethical Dilemmas?

$16.$ What is an Ethical Framework and how does it relate to Ethics Culture and Industry Norms?

$17.$ What are the common Rationalizations for Unethical Behaviour?

a$.$ How can managers deal with unethical behaviour in the workplace?

$18.$ What are Social Responsibility, Governance and Sustainability?

MGMT$1120$ Final Exam Study Guide $2$

$19.$ What is Strategic Management and why is it important to managers?

a$.$ Strategy and Strategic Intent

$20.$ What is Competitive Advantage?

b$.$ Common types

c$.$ Significance

$21.$ What are the Three Levels of Strategy in organizations?

$22.$ Strategic Analysis $$ what is this and why is it done?

$23.$ Porter$$s Five Forces Model!

$24.$ Corporate Level Strategy Formulation Strategies

a$.$ Growth & Diversification

b$.$ Restructuring

c$.$ Global

d$.$ Cooperative

e$.$ E$-$Business

f$.$ Portfolio Planning $/$ BCG Matrix

$25.$ Business Level Strategy Formulation Strategies

a$.$ Differentiation

b$.$ Cost Leadership

c$.$ Focus

$26.$ Strategy Implementation

a$.$ Management Practices and Systems

b$.$ Corporate Governance

c$.$ Strategic Control

d$.$ Strategic Leadership

$52.$ What is Organizing as a management function?

a$.$ Informal Structures

b$.$ Formal Structures $$ functional, divisional, matrix

c$.$ Horizontal Structures $$ team, network, boundaryless, virtual, latent

$53.$ What role do Organizational Structures play within an organization?

a$.$ Mechanistic and Organic

b$.$ Delegation and empowerment

$54.$ What is a Change Leader $/$ Agent?

$55.$ What are the models of change leadership?

a$.$ Why are there different ways of changing an organization?

$56.$ What are the stages and characteristics of Lewin$$s Three Phases of Planned Change?

$57.$ What are the change strategies and how is leadership different for each?

MGMT$1120$ Final Exam Study Guide $3$

$58.$ What are the three major responsibilities of Human Resource Management?

$59.$ What is Strategic HRM$?$

$60.$ HRM Issues within an organization$$s Legal Environment $($e$.$g$.$ discrimination, comparable worth etc.$)$

$61.$ Human Resource Planning

a$.$ There are five steps to this $($Figure $13\mathrm{.}2)$

$62.$ What is the difference between internal and external recruitment?

a$.$ Pros and cons?

$63.$ What are $$Realistic Job Previews$?$

a$.$ How is this different from traditional recruitment practices?

$64.$ What factors affect the development of a quality workforce?

a$.$ Orientation & Socialization

b$.$ Training & Development

i$.$ Two types of training

c$.$ Performance Management

i$.$ Performance Appraisal Purposes and Methods

$65.$ How can an organization maintain a quality workforce?

a$.$ Flexibility & Work$-$life Balance

b$.$ Compensation & Benefits

i$.$ What are some of these that employers might use to keep employees

c$.$ Retention & Turnover

d$.$ Why are these important to both employees and employers?

$66.$ What is Leadership?

$67.$ What is the connection between Leadership and Vision?

$68.$ Why is the concept of $$Service$$ important to Leadership?

$69.$ What are the Traits of a Successful Leader?

a$.$ There are eight of them

$70.$ What are the four Classic Leadership Styles?

$71.$ What are the characteristics of a Charismatic Leader $/$ Super$-$leader?

$72.$ What are the characteristics of Transformational Leadership?

$73.$ What are the characteristics of Drucker$$s $$Old Fashioned$$ Leadership?

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$74.$ What is the importance of Controlling in the management process?

a$.$ What are the three types of Controls?

i$.$ What are their characteristics and why are they important?

b$.$ What are the four types of External Controls?

i$.$ Why do managers have to know about these?

$75.$ What are the Four Steps of the Control Process