Management in Action Social Economic Ethical Issues-1

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Assignment A

 

1. What do you understand by consulting process? Discuss phases of consultancy

2. Discuss Management Objectives, Goals and Functions of Manager

3. Discuss Geert Hofstede Cultural Model, Elaborate Power Distance with examples

4. Write short note on

a. Pros and Cons of charging fee on hourly basis

b. Outsourcing management services

5. What is power? Explain the various sources of power giving suitable example

 

Assignment B

 

Based on Enablers and drivers of the Indian economy, make SWOT analysis

 

Given below is the profile of Indian Retail industry.

 

· Retail is the biggest industry in the world with sales of $7.2 trillion.

· Every 10th billionaire in the world is a retailer

· 25 of the top 50 Fortune 500 companies are retail

· Retail generated a shareholder return of 18%

· In fact, warren buffet in one of his addresses to the shareholders mentioned that not investing in Wal-Mart a $8 billion mistake!!

· In India however retail industry is in infancy inspite of enormous potential. Given below is the current status of Retail in India.

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Assignment C

 

MULTIPLE CHOICE QUESTIONS

 

Q.1 Some key economic factors that marketers need to consider in view of planning for international marketing are:

 

a. interest rates, inflation and employment levels per capital

b. economic growth, GDP per capita and GNP, balance of trade

c. levels of literacy and demographics

d. A and B only

 

 

Q2. Analysts using Porter’s Five Forces model would see which of
the following as substitutes for tourist flights to Western Europe offered by airlines such as BA or Air France?

a) Flights provided by Lufthansa and Aer Lingus.

b) Flights offered by low cost airlines such as Ryanair and EasyJet.

c) Travel on the Eurostar.

d) Video-conferencing facilities

 

 

Q3. According to Porter, suppliers are more able to exercise bargaining power over buyers when:

a) The supply industry is dominated by a few large firms.

b) The supply industry is populated by a large number of small firms.

c) When buyers have the ability to take over suppliers.

d) There are few buyers in the market.

 

 

Q4. Which of the following statements best describes Corporate Social Responsibility?

a) A corporation’s requirement to make as much profit as possible.

b) A corporation’s obligation to society that goes beyond the requirements of the law and economics to take into account the social and environmental impact of its decisions.

c) A corporation’s obligation to consider the impact of its decisions on the environment.

d) The duty of care a corporation has to its employees and customers.

 

 

Q5. A stakeholder can best be defined as:

a) The network of people who come into contact with a business.

b) All the organisations that work with a business.

c) All the suppliers, customers and employees of a business.

d) Any individual, group, or organisation that is affected by or can affect the activities of a business.

 

 

Q6. An analysis of the external environment enables a firm to identify:

a) Strengths and opportunities

b) Strengths and weaknesses

c) Weaknesses and threats

d) Opportunities and threats

 

 

Q7. According to Hofstede, national cultures such as Singapore, Hong Kong, and Denmark, in which people are more accepting of innovative ideas and eccentric or deviant behavior, are which of the following?

a) High in uncertainty avoidance

b) Low in uncertainty avoidance

c) More masculine

d) High power distance

 

Q8. Which of the dimensions Hofstede used to define differences between national cultures refers to the degree to which members of a culture are expected to act independently of other members?

a) Individualism

b) Power distance

c) Masculinity

d) Uncertainty avoidance

 

Q9. The most important aspect of power is that it:

 

a. Is necessary for goal achievement

b. Is a function of dependency.

c. Is the major focus of leadership

d. Tends to corrupt people.

c. Is counterproductive

 

 

Q.10 Expert power refers to influence that derives from:

 

a. Position

b. Special skills or knowledge

c. Politics

d. Educational institutions

e. Status

 

Q11. What is the opposite of coercive power?

a. Expert power

b. Reward power

c. Information power

d. Legitimate power

e. Referent power

 

 

Q12. According to Cadbury (2002), corporate governance is an issue of power and:

a) Rights

b) Accountability

c) Profit

d) Appropriability

 

 

Q13. The view that sees profit maximization as the main objective is known as:

a) Shareholder theory

b) Principal-agent problem

c) Stakeholder theory

d) Corporation theory

 

 

Q14. Who is the most famous exponent of shareholder theory?

a) Michael Porter

b) Adam Smith

c) Milton Friedman

d) Peter Drucker

 

 

Q15. Where an organization takes into account the effect its strategic decisions have on society, this is known as:

a) Corporate governance

b) Business policy

c) Business ethics

d) Corporate social responsibility

Q16. Executive pay in the UK was reviewed by:

a) The Greenbury Committee

b) The Hampel Committee

c) The Cadbury Committee

d) The Higgs Committee

 

 

Q17. The slowest way to grow a business is likely to be through:

a) A merger

b) outsourcing

c) Internal development

d) A strategic alliance

 

 

Q18. Which of the following is not one of Drucker’s seven tasks for managers?

 

a. Manage by objectives

b. Take strategic decisions

c. Take operational decisions

d. Build integrated teams

e. Communicate quickly and clearly

 

 

Q19. Whose approach to management is known as ‘scientific management’?

 

  1. Taylor
  2. Mayo
  3. Drucker
  4. McGregor
  5. Herzberg

 

20. A successful Consultant will:

A) Be sensitive to the external and organisational contexts of change.

B) Understand the overall required strategy.

C) Apply an appropriate style of managing change.

D) All of the above.

21. Political processes in managing change may involve:

 

A) The Board of Directors.

B) Senior managers

C) Employees.

D) All stakeholders

 

 

22. _______________ power is based on the influencer’s ability to punish the influence for not meeting the requirements:

a. Referent

b. Coercive

c. Expert

 

23. ________________ refers to the ability of individuals or groups to influence the beliefs or actions of other individuals or groups

 

a. Discipline

b. Power

c. Responsibility

 

24. Which of the following powers stem’s form the position’s place in a managerial hierarchy and the authority vested in the position.

 

a. Legitimate power

b. Reward power

c. Expert power

 

25. Management is :

a. An Art

b. A Science

c. Both

 

26. Which of the following determines a person’s ethical or unethical behaviour?

a. Values

b. Procedures

c. Rules

 

 

27. Which level of Managers is involved in the development of plans?

a. Top Level managers

b. Middle Level Managers

c. All the above

 

28. Which management approach can be classified as scientific, administrative and bureaucratic approach

a. Classical

b. Neo-classical

c. Modern

 

 

29. Which of the following statements is most correct regarding outsourcing?

 

a. Outsourcing is a “new” idea when it comes to cash management.

b. “Reducing and controlling operating costs” generally ranks low when it comes to reasons why outsourcing end users turn to outsourcing.

c. While outsourcing is widely applied in the area of “collections,” it is much less applicable to the area of “disbursements.”

d. Essential, but noncore areas of business are candidates for outsourcing.

 

 

30. Which of the following is false about ethics and modern management?

a. Modern managers will feel growing pressure to behave ethically

b There are clear standards for judging ethical and unethical behavior

c Questions of ethics surround many management decisions

d Managers often navigate a “moral maze” in their decision-making processes

 

 

31. The McKinsey 7-S Framework was employed by Peters and Waterman to help them understand what made their 43 excellent companies worthy of the accolade. The huge sales of their book “In Search of Excellence” have resulted in the Framework being widely known and instantly recognisable.

Which statement below is true?

a. The Framework has no theoretical underpinnings at all. It is simply an ad hoc collection of interesting characteristics of organisations culled from McKinsey partners and a bunch of smart people. The proof of its arbitrariness is the exclusion of GE from the line-up and the fall from grace of one third of the ‘excellent’ companies within five years.

b. The 7-S Framework has stood the test of time. The process was fundamentally sound, based on common sense, instinct and the views of unconventional people. The eight themes are as relevant today as they were in 1982

c. The Framework is only applicable to large North American multinationals that formed the basis of the study, and in any case is now obsolete since so much has changed in the world of business since publication in 1982.

d. There are many competing explanations of why some companies succeed and others don’t that have been advanced by academics and consulting companies. Peters and Waterman have done a better job at marketing their ideas.

32. Economic growth can be measured by:

a) The CPI

b) The CBI

c) GDP

d) MPC

 

33. In a recession, GDP:

a) Grows negatively

b) Grows slowly

c) Grows by 0%

d) Grows rapidly

 

34. Economic growth can be seen by an outward shift of:

a) The Production Possibility Frontier

b) The Gross Domestic Barrier

c) The Marginal Consumption Frontier

d) The Minimum Efficient Scale

35. When an economy first begins to grow more slowly:

a) GDP increases

b) Inflation is likely to increase

c) Stock levels are likely to increase

d) Investment in equipment is likely to increase

 

36. The report writer should always remember that people have expectations about what information they will find and where it will be. It is unusual for final reports to have a section with:

a. recommendation.

b. research costs.

c. appendices.

d. method.

e. Executive summary

 

37. Recommendations should be based on:

 

a. assumptions

b. findings.

 

38. Dissatisfied stakeholders may behave in which of the following ways?

A) Demonstrate loyalty to the organisation

B) Leave the organisation

C) Seek to change things in the organisation

D) Answers A and B

E) Answers B and C

 

39. Internal stakeholders of a company exercise their power via which of the following?

a. Their position within the company

b. Their control of resources

c. Their personal influence

d. Their knowledge and skills

e. All of the above

 

40. To business organisations, the term ‘stakeholder’ means which of the following?

a. All those parties which the company does business with

b. All those interested in working for the company

c. All those who have an interest in the company

d. Board of Directors of the company

e. Shareholders of the company

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