Principles of Management

Multiple choice  questions 

1. How can company gain benefit when its meet the Competitive Advantage
   A. Company possibility to take temporary over benefit other competitor
   B. Company possibility to take sustainability over other competitors
   C. Company possibility to build economic of scale over other competitors

2. To achieve the superior value. The company clearly ……
   A. Totally different function offer to the customer
   B. At least only one company can copy similar as yours
   C. Make it difficult to the customer not to reach easily to the product/service

3. What is not true about “Rarity Criteria” to company?
   A. Only one other competitor can copy your company
   B. None other firm can copy your company
   C. Rarity Criteria is not a long-term achievement

4. How can company reach to the criteria “Difficult to imitate”
   A. Expand its product line
   B. Strategy to avoid production in oversea who are company competitor
   C. Build up high wall to run beyond competitor

5. Non-Substitutability criteria refer to………
   A. Customer might easily select other product/service where similar to yours.
   B. No other option if the customer need to purchase the best in this product/service
   C. The company not offer an expand product line, it provides only the main unique product/service to customer

True or False questions 

T 1………… company policy and company regulation is internal environment force.  

F 2.………… To study Maslow need. We learn that human will stop their want/need at the top achievement level 

F 3.………… Company leader be able to meet high employee performance if leader know how to force and control over their employee  

T 4.………… The equity theories will increase when human feel that their result less than the other people 

T 5.………… The equity theories will decrease when human feels that their result same to the other people 

Essay Questions

What is transformational leadership, and is transactional leadership?

Answer: 

Transactional, this style is built on give and take. The leader views work as a series of ‘do your job well, you get a reward’ and focuses on efficiency here and now. Best for emergency services and high-volume production where precision is more important than creativity. 

Transformational, this style focuses on inspiring employee to go beyond their self-interest for the sake of a larger mission. Focus on long-term vision, charisma, individualized coaching, and encouraging thinking outside the box. Best for rapid changing industries. 

What is the new challenge that might impact an organization? Please explain at least 3 reasons. 

Answer
There are many shifts and evolving social norms, technological, and risk. The three answers are 

• Sustainability and ESG Accountability to realize to stakeholder. Organizations are no longer judged solely on profit, but on their environmental footprint and social impact impact 
• Workforce Dynmics; the shift toward hybrid and remote work has created the new challenge of maintaining team cohesion 
• The AI integration; a digital divide where companies that fail to integrate AI effectively lose their competitive edge. Organization requiring massive upskilling and reskilling of the existing workforce.