MANAGEMENT 301 EXAM 4 QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026

MANAGEMENT 301 EXAM 4 QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 Chapter 8 Culture, Innovation, Change - Answers Managers must: - Answers develop culture encourage innovation manage change Culture - Answers Internally: a set of beliefs/values that guid behavior Externally: it is a set of signals of what is considered appropriate/inappropriate Zappos - Answers company that centers on culture; company is based on 10 core values and they do the three big things Cultural fit - Answers Do you want to be us? Main reason people leave their job Culture is organizational - Answers Augusta National; not allowing IBM CEO Ginni Rometty in the golf league because she is a woman Culture is Corporate - Answers Disney with Mickey: tradition is a big part of their orientation Culture: -shapes attitude -reinforces belief -directs behaviors -sets expectations KPMG Study - Answers found that only 17% of mergers and acquisitions had any added value; 83% failed to produce any value and 50% destroyed shareholder value. Socialization - Answers The process by which new members learn the culture of a team or organization Competing Values Framework - Answers CULTURE IS GLOBAL: -Hierarchal -Entrepreneurial -Rational -Team culture Heirarchal culture - Answers Authority runs the system Clear roles Rules Emphasis on predictability Rational culture - Answers Authority serves the goals Efficiency Planning Emphasis on modest change Entrepreneurial culture - Answers Authority goes with ideas Flexibility Change and growth Emphasis on entrepreneurship Team culture - Answers Authority is shared Teamwork Collaboration Emphasis on mutual support Observed Culture - Answers visible part that people SEE: ex.) dress, office, symbols, and slogans Core Culture - Answers underlying assumptions and beliefs that shape and guide peoples behavior ex.) code of conduct or rules 4 elements of observed and core culture - Answers rites/rituals symbols stories, heroes Heroes - Answers -Big 3 heroes are: employees, leaders, customers -Benefits: shared knowledge of hero stories; establish/ represent core values -Example: Disney, Walton (Walmart), Ken Frazier (merck) Rites/rituals - Answers -Benefits: creates connection between people and organizations, builds morale and engagement, share hands- on experiences -Example: Pixar and creativity; give employees 10,000 dollars to decorate their offices Symbols - Answers -Benefits: common understanding of culture; easy to recognize (you and others) -Example: Nittany Lion; Tony the Tiger Stories - Answers -Benefits: easily remembered and passed on, instills deeper cultural understanding Example: Harland Sanders and KFC; Dave Thomas and Wendys Values Based Management - Answers when they practice, model, and communicate core values Workplace Sprituality - Answers practices that try to enrich people's lives by bringing meaning to their lives/work Innovation - Answers -process of translating ideas/inventions into goods/services that create value for which customers are willing to pay -taking new idea and putting it in practice -lifeblood of business 3+1 types: process product business model sustainability 3D Printing - Answers example of innovation; it has benefits (print body parts) and side effects (terrorists could use it); 3D print a gun; must think of ethical consequences Process Innovation - Answers -Done the most -Lean principles= reduction of waste -Six sigma: process improvement -Used for reduction in cost, increased turn around, increased output, and better customer satisfaction Examples of process innovation - Answers -Vending machine, now take credit cards, 20% more revenue; new technology -Aloisio Summly, condensing text into short stories compatible for phone -Gulfstream Airlines Product Innovation - Answers creating new products/ services for customers Examples of Product Innovation - Answers -Drones used to take pictures; always pros and cons like spying on enemies but the technology can be used against us. -Kindle Business Model Innovation - Answers create, deliver, and caputre value Business Model Examples - Answers Media= the decline of print Retail= online shopping Education= online classes Music= digital streaming services Owning to leasing services D'Aloisio: sold his Summly business model to yahoo Instagram 3 Problem: beaty, speed, distribution Uber: app Sustainability Innovation - Answers reduces carbon footprint of organization Examples of Sustainabilty Innovation - Answers Toyota: I-Road TerraCycle: reduces waste and upcycles (Uses garbage material to make new things) Commercialization - Answers turning new ideas into salable products; selling innovation Supersoaker: capture value and sell innovation Post- its; both failed at commericialization at first (post it ad) 5 Organizational Protocols - Answers Strategy: includes innovation (3M Corp's rule that 30% of revenue go to new products) Culture: values innovation Structure: supports innovation Management: supports innovation Staffing: for creativity of innovation Change - Answers -personal and organizational -make the form, nature, content, or future course of something different from what it was or would be 2 Driving Forces of Change - Answers Threats Opportunity Moneyball Trailer - Answers manager goes through stages of grief when he changes the way that baseball players are selected; denial, anger, bargaining, depression, acceptance, move on Two Types of CHange - Answers transformational and incremental Transformational Change - Answers repositioning major change affects entire org hard to achieve Incremental Change - Answers day to day process improvements Impacts of change - Answers fear of unknown loss of control disrupted habits loss of confidence Burning platform - Answers -You are in a bad situation in which you need change -IBM was failing, CEO Lou Gerstner "made the jump" -Changed IBM's cost, culture, and strategy -More informal and customer focused Hostess - Answers went bankrupt because of lack of change Kurt- Lewin Model - Answers changing processes through unfreezing, change, and refreezing Unfreezing - Answers create need for change; help others realize that change solves problems Change (Kurt- Lewin) - Answers Implement and manage the process of change Refreezing - Answers -Stabilize change and scan for problems in the future -Focus and stabilize -Link change to positive reinforcement Change drivers - Answers confidence in ability risk takers expect surprises make things happen seize opportunities Status Quo Holders - Answers threatened by change bothered by uncertainty prefer predictability wait for things to happen Who Moved My Cheese - Answers -Change happens -Anticipate change -Monitor change -Adapt quickly -Change -Enjoy change -Be ready Force- coercion strategy - Answers -power- bases of legitimacy -rewards and punishments to make change -direct forcing and political manuvering Direct forcing - Answers person takes direct and unilateral action to command change; exercise formal authority (rewards and punishments) Political manuvering - Answers indirect method to gain advantageover other people to force change; bargaining, alliances, control Rational Persuasion strategy - Answers using data and rationality to enforce change; works best with expertise Shared power strategy - Answers collaborative process of identifying values and goals for which support for change will naturally emerge; high commitment but slow. Resistance to change - Answers view it as feedback; listen to resistance and improve change process; education and communication; participation and involvement, facilitation and support, negotiation, manipulation and cooptation, coercion. Chapter 9 HR Management - Answers Human Resources - Answers -developing, attracting, and keeping talent -maintaining quality workforce Human Capital - Answers economic value of employee skills and knowledge people are - Answers a cost to reduce an asset to develop SHRM - Answers -society for HRM -governing body for everything HR -keeping membership up to date on practices, current events, and issues Strategic HRM - Answers aligns human capital with organizational strategy Attracting Steps - Answers 1.) Assess need and define job 2.) Recruiting strategy and implementation 3.) Candidate selection and offer process ex. J and J gold program; specific what degrees needed 65% of large companies will ask for internal referral Career Builder Recruiting - Answers -find qualified candidates ex.)Resume Flip 5 Selection Methods - Answers in depth interviewing real time/ simulated work technical/personality testing