MNG3702 UNISA EXAM WITH VERIFIED QUESTIONS AND CORRECT ANSWERS GRADED A+

MNG3702 UNISA EXAM WITH VERIFIED QUESTIONS AND CORRECT ANSWERS GRADED A+ Main purpose of a business? - ANS-Traditionally, to make a profit. Currently - organisations must satisfy needs of all stakeholders, not only shareholders. 3 pillars of responsible strategic leader? - ANS-* Sustainability strategic leadership - create direction, create alignment, maintain commitment. * Responsibility strategic leadership - key stakeholders * Ethical strategic leadership 6 levels of commitment to challenges of responsibility & sustainability? - ANS-1) Rejection = work actively against 2) Non-responsiveness 3) Compliance = to avoid risk 4) Efficiency = cost-reduction & efficiency strategy 5) Strategic pro-activity = sustainability viewed as achieving competitive advantage 6) The sustaining organisation = committed to principles of social and ecological sustainability that maintains financial returns but is focused on meeting the needs of the present without compromising opportunities of future generations. Difference between ethics and morality? - ANS-* Ethics = making the rules (underlying rationale used to create morality) * Morality = applying these rules Business ethics? - ANS-The study of what constitutes right and wrong human conduct in a business context. What is organisational structure? - ANS-The formal configuration between individuals and groups regarding allocation of tasks, responsibilities and authority within an organisation. Responsible organisational structure? - ANS-Integration of responsible management, sustainable development and ethical practice throughout the structure of the organisation. What makes a person a leader? - ANS-1) There need to be followers. 2) A leader is out front, determining the standard. 3) Leader strives to build authentic relationships. 4) A leader is not necessarily an individual. 5) Leader and followers have a common goal. Strategic leadership? - ANS-Process by which a strategic leader influences followers to achieve strategic vision of the organisation. 6 requirements for leader to be considered operating on strategic level? - ANS-1) Ability to build knowledge of environment 2) Authentic leadership 3) Understand organisation 4) Ability to create shared understanding 5) Feel comfortable with change 6) Rooting in functional skills Essence of strategic leadership? (Boal and Hooiberg) - ANS-Creation & maintenance of: 1) Absorptive capacity 2) Adaptive capacity 3) Managerial wisdom Define organisational structure? - ANS-The formal configuration of individuals and groups regarding the allocation of resources, responsibility & authority. 3 organisational structure components? - ANS-(1 & 2 = structural framework, vertical hierarchy) (3 = horizontal & vertical) 1) Designates formal reporting relationships (hierarchical levels & span of control). 2) Identifies grouping of individuals in departments & the departments of the organisation. 3) Includes the design of systems, processes & procedures. Role of top management in organisational design? - ANS-1) Analyse internal & external environment 2) Determine strategic direction 3) Create organisational structure 4) Determine effectiveness & efficiency Phases in creating a responsible organisational structure? - ANS-1) Understand the organisation = individualism (individuals responsible for decisions) vs collectivism (organisation is responsible), realism (duty ethics) vs constructivism, instrumentalism vs institutionalism. 2) Creating a responsible organisational structure (ANDCCEI) 3) Develop the organisation responsibly = 3 main drivers to shift towards integrating responsible management include * cultivating responsible leadership * responsible culture * change management 5 main types of organisational designs? - ANS-* Self-contained * Horizontal