Management Concepts 2

What does Parkinson's Law state?

• Work is done only when deadlines are near

• Work expands to fill the time available

• Work is independent of time constraints

• Work is always completed ahead of schedule

What is the purpose of a chain of command in an organization?

• To enhance employee creativity

• To increase employee autonomy

• To clarify who reports to whom

• To reduce the number of managers

What does the span of control refer to?

• The range of tasks assigned to an employee

• The total number of managers in an organization

• The level of employee satisfaction

• The number of employees a manager can supervise

What is outsourcing?

• Hiring external companies for services

• Increasing internal production capacity

• Reducing the workforce

• Enhancing employee training programs

Why is organizational design important?

• It focuses solely on profit

• It affects power and strategy

• It eliminates the need for management

• It determines employee salaries

What does the Blue Ocean Strategy aim to achieve?

• Focusing on existing market competition

• Making competition irrelevant

• Increasing market share through rivalry

• Reducing costs without differentiation

In the Boston Consulting Group Matrix, what do 'Dogs' represent?

• High growth and high market share

• Low growth and low market share

• High market share but low growth

• Low market share but high growth

What is crowdsourcing?

• Obtaining ideas from customers

• Hiring external consultants

• Reducing employee numbers

• Increasing internal brainstorming sessions

What does the Value Chain Analysis focus on?

• Business processes that add value

• Employee satisfaction metrics

• Market share analysis

• Cost-cutting measures

What is the Resource-based view?

• A model focusing on key resources for performance

• A strategy for reducing costs

• A method for increasing employee turnover

• A framework for market analysis