MGMT 2500 WMU Exam Newest 2025/2026 Actual Exam Complete Questions And Correct Detailed Answers (Verified Answers) |Already Graded A+||Brand New Version!!

MGMT 2500 WMU Exam Newest 2025/2026 Actual Exam Complete Questions And Correct Detailed Answers (Verified Answers) |Already Graded A+||Brand New Version!! Decision Making - Answer- Identifying and choosing alternative solutions that lead to a desired state of affairs Rational Decision Making - Answer- *How managers should make decisions assuming completely objective possessing complete information *Decisions demonstrate excellent logic & optimize decisions that have the organizations best interest Non-rational Decision Making - Answer- Explains how decisions are ACTUALLY made Normative (Bounded Rationality) - Answer- Notion decision makers feel "bounded" or restricted by a variety of constraints when decision making Normative (Satisficing) - Answer- Choosing solutions that are "good enough" or meet the minimum qualifications Intuition - Answer- Judgements, insights, decisions that come to mind on their own Holistic Hunch - Answer- "Feels right" judgement based on a subconscious integration of information stored in memory Automated Experiences - Answer- Choice based on a familiar situation and a partially subconscious application of previously learned information related to that situation Judgemental Heuristics - Answer- Rules of thumb or "shortcuts" that people use to reduce information processing demands Groupthink - Answer- Members fail to exercise sufficient reality testing & moral judgement due to pressure from the group Group Cohesiveness - Answer- Bonds link members of a social group to one another and to the group as a whole Stage 1 of Rational Decision Making - Answer- Identify the problem or opportunity Stage 2 of Rational Decision Making - Answer- Generate alternative solutions Stage 3 of Rational Decision Making - Answer- Evaluate alternatives and select a solution Stage 4 of Rational Decision Making - Answer- implement and evaluate the solution chosen Leadership - Answer- Process where an individual influences a group of individuals to achieve group or organizational goals 4 Types of Leadership - Answer- *Task Oriented *Relationship Oriented *Passive *Transformational Leaders: - Answer- Deal w/ interpersonal aspects of a managers job *Inspire others, provide emotional support, get employees to rally around a common goal *Key role in CREATING a vision & strategic plan Managers: - Answer- Perform functions associated with Planning, Investigating, Organizing, Control *Concentrate on getting things done *Charged with implementing the vision & strategic plan Leader Traits - Answer- Physical or personality characteristics that can be used to differentiate leaders from followers Models of Leadership - Answer- *Fiedler's Contingency Model *Path-Goal Theory Fiedler's Contingency Model - Answer- OUTDATED Believes leaders have one dominant or natural leadership style that is resistant to change (Task vs Relationship) *Focus on Accomplishing Goals vs Developing positive relationships with followers *Least Preferred Coworker (LPC) Scale: ** evaluating coworkers you least enjoy working with *Believes people cannot change their leadership style Path-Goal Theory - Answer- Leader behaviors are effective when employees view them as a source of satisfaction or as paving the way to future satisfaction by: *Reducing roadblocks *Providing Guidance & Support *Linking Rewards to Goal Accomplishment Take Aways from Leadership - Answer- *Effective leaders use MULTIPLE types of leader behavior *Leaders are encouraged to clarify the paths to goal accomplishment and to remove any obstacles *Guide and Coach employees during the pursuit fo their goals *Modify leadership style to fit various employee & environment characteristics Interpersonal Traits - Answer- Skills used to interact with others properly Leader Behaviors - Answer- *Task-oriented *Relationship-oriented *Passive *Transformational Organizational Culture - Answer- Passed on to new employees through the process of SOCIALIZATION that influences our behavior at work and it operates at different levels Peter Drucker - Answer- "Culture trumps strategy everyday" 3 Layers of Organizational Culture - Answer- *Observable artifacts *Espoused values *Basic assumptions Pike Place Fish - Answer- **Management stays out of the way and allows employees to be creative and manage themselves** 4 Truths about Culture Change - Answer- Only attempt went organizational survival is threatened Values - Answer- *Espoused *Enacted Espoused Values - Answer- Stated values and norms that are preferred by an organization *Established by founder of new/ small company *Top management team in large organization **Being a "green company"