12013“FundamentalsofManagement”ReferentialanswersforassignmentsChapter1:ManagersandManagementQ4Isyourcourseinstructoramanager?Discussintermsofbothplanning,organizing,leading,andcontrolling.AlsodiscussusingMintzberg’smanagerialrolesapproach.Answer–Acollegeinstructorisbothanindividualcontributorandamanager.Planning(definesclassgoals,establishesplansforachievinggoals,anddevelopslessonplans),organizing(executionandclassparticipation),leading(motivatingstudents,directtheactivitiesofothers,selectthemosteffectivecommunicationchannel,resolveconflicts),controlling(grading).Mintzberg’smanagerialroles:Interpersonalroles:therolesofleaderandliaison.Informationalroles:monitoranddisseminator.Decisionalroles:disturbancehandlerandresourceallocator.Q7Whyaremanagersimportanttoorganizations?Answer–Managersareindividualsinanorganizationwhodirectandoverseetheactivitiesofothers.Managersperformmanagerialactivitiesthatensuretoachieveorganizationalgoalseffectivelyandefficiently.Providingdetailsaboutmanagementlevels.(Pleaserefertopage5-6)Q9AnarticlebyGaryHamelintheFebruary2009issueofHarvardBusinessReviewaddresseshowmanagementmustbereinventedtobemorerelevanttotoday’sworld?Getacopyofthatarticle.Chooseoneofthe25grandchallengesidentified.Discusswhatitisandwhatitmeansforthewaythatorganizationsaremanaged.Answer–The25grandchallengesinclude:ensuremanagementservesahigherpurpose,reducefearandincreasetrust,reinventthemeansofcontrol,redefinetheworkofleadership,expandandexploitdiversity,etc.Chooseoneofthemanddiscuss.Chapter3:FoundationsofDecisionMakingQ1Whyisdecisionmakingoftendescribedastheessenceofamanager’sjob?Answer–Decisionmakingisaprocessofrespondingtoaproblembysearchingforandselectingasolutionorcourseofactionthatwillcreatevaluefororganisationalstakeholders.Everythingthatamanagerdoesintermofplanning,organizing,leadingandcontrollinginvolvesdecisionmaking.Managersinorganizationsalsoarecalleddecisionmakers.Q3“Becausemanagershavesoftwaretoolstouse,theyshouldbeabletomake2morerationaldecisions.”Doyouagreeordisagreewiththisstatement?Why?Answer–Disagree.Decisionmakingisacomplexprocesswhichneedsinformation,skills,experiencesandcreativity.Softwaretoolswillallowmanagerseasilygatherinformationandanalyzeit,butitisdoubtfulsoftwaretoolscanmakemanagersmorerational,assoftwaretoolsdonotmakedecisions.Rationaldecisionmakingmeansmakinglogicalandconsistentchoicestomaximizevalue.Rationaldecisionmakingmustsatisfyseveralassumptions.However,therealityisfullofuncertaintyandrisk.Managers’decisionmakingstillwillnotbeperfectlyrationalbyusingsoftwaretools.Q4Isthereadifferencebetweenwrongdecisionsandbaddecisions?Whydogoodmanagerssometimesmakewrongdecisions?Baddecisions?Howmightmanagersimprovetheirdecisionmakingskills?Answer–Wrongdecisionscannothelptoachieveorganizationalgoals,baddecisionsdohelptoachievegoalsbutmaynotmaximizevalueorsolveproblemsinalargeexpense.Inadditiontouncertaintyandrisk,timepressure,incompleteinformationintoday’senvironmentandlimitedcapacitymakemanagersoftenuseintuitiontomakedecisions,sogoodmanagerssometimesalsomakewrongorbaddecisions.Managerscanimprovedecisionmakingskillsbyfocusonwhatismoreimportant,logicandconsistency,gatheringrelevantinformation,blendingsubjectiveandobjectivethinkingwithanalysisandremainingflexible,etc.Chapter4:FoundationsofPlanningQ2Describeindetailthesix-stepstrategicmanagementprocess.Answer–Thesix-stepstrategicmanagementprocessinvolves:Identifytheorganization’scurrentmission,goals,andstrategies;Externalanalysis(identifyopportunitiesandthreats);Internalanalysis(identifystrengthsandweaknesses);Formulatestrategies,implementstrategiesandevaluateresults.(Pleaserefertopage87-89)Q5UnderwhatcircumstancesdoyoubelieveMBOwouldbethemostuseful?Discuss.Answer–MBOisaprocessofsettingmutuallyagreed-upongoalsandusingthosegoalstoevaluateemployeeperformance.MBOmakesobjectivesoperationalbycascadingthemdownthroughtheorganization.Undercircumstanceswhereemployeecommitmentisimportant,whereconcretegoalshelpacompanydirectsitsefforts,whenthereisaneedcoordinationandcommunicationinacompany,etc.Q9DoapersonalSWOTanalysis.Assessyourpersonalstrengthsandweaknesses(skills,talents,abilities).Whatareyougoodat?Whatareyounotsogoodat?Whatdoyouenjoydoing?Notenjoydoing?Then,identifycareeropportunitiesandthreatsbyresearchingjobprospectsintheindustryyou’re3interestedin.Lookattrendsandprojections.YoumightwanttocheckouttheinformationtheBureauofLaborStatisticsprovidesonjobprospects.Onceyouhaveallthisinformation,writeaspecificcareeractionplan.Outlinefive-yearcareergoalsandwhatyouneedtodotoachievethosegoals.Answer–SWOTanalysisisananalysisofanorganization’sstrengths,weaknesses,opportunities,andthreatsinordertoidentifyastrategicnichethattheorganizationcanexploit.Theanswerwillvarybasedonstudents.(Pleaserefertopage88-89)Chapter5:OrganizationalStructureandCultureQ2Cananorganization’sstructurebechangedquickly?Whyorwhynot?Shoulditbechangedquickly?Whyorwhynot?Answer–Yes,anorganization’sstructurecanbechangedquickly.However,thespeedofchanginganorganization’sstructuredependsonitssize.Asmal