Fani Warraich MANAGEMENT SCIENCES   -   Management

What does "corporate governance" primarily focus on?

Corporate governance is like having a set of rules for how a company is run to make sure everything is fair and transparent, especially for shareholders. It ensures that the people in charge don?t make decisions that harm the company or its owners.
Fani Warraich MANAGEMENT SCIENCES   -   Management

Which of the following is an example of a primary stakeholder in a company?

Primary stakeholders are like the main characters in a story. They are directly involved with the company and are affected by its success or failure, like employees, customers, and shareholders.
Fani Warraich MANAGEMENT SCIENCES   -   Management

What does "Kaizen" mean in the context of management?

Kaizen is like taking baby steps toward becoming better every day. It?s the idea that small, consistent changes can lead to big improvements in the way things are done in a business.
Fani Warraich MANAGEMENT SCIENCES   -   Management

Which theory emphasizes that people are motivated by fairness in the workplace?

Equity theory is like being on a team where everyone expects to get the same slice of cake if they worked equally hard. If someone gets a bigger slice, others feel it?s unfair. This theory says people are motivated when they feel things are fair.
Fani Warraich MANAGEMENT SCIENCES   -   Management

What is the main difference between intrinsic and extrinsic motivation?

Intrinsic motivation is like feeling proud of yourself for doing a good job, even if no one else knows. Extrinsic motivation is like getting a sticker or a prize for completing your homework.
Fani Warraich MANAGEMENT SCIENCES   -   Management

Which of the following describes a transformational leader?

A transformational leader is like a coach who motivates the team to dream big and take bold actions to improve. This type of leader inspires people to go beyond what they think they can do.
Fani Warraich MANAGEMENT SCIENCES   -   Management

The theory of "scientific management" was primarily developed by:

Scientific management is like a recipe that tells workers exactly what to do step-by-step. Frederick Taylor believed in making work as efficient as possible by studying how tasks were done and then giving clear instructions on how to do them better.
Fani Warraich MANAGEMENT SCIENCES   -   Management

Which type of organizational structure groups employees based on their specific job functions?

In a functional structure, people are grouped by the job they do, like having all the teachers in one room and all the students in another. Each group focuses on one specific function, such as marketing or finance.
Fani Warraich MANAGEMENT SCIENCES   -   Management

What is the purpose of benchmarking in management?

Benchmarking is like a race where you see how fast you?re running compared to other racers. Companies do this to compare how well they are doing against competitors and identify areas for improvement.
Fani Warraich MANAGEMENT SCIENCES   -   Management

Which decision-making model assumes managers have all the information and can make logical, optimal decisions?

The rational model is like trying to solve a puzzle with all the pieces in front of you. It assumes that managers know everything they need to know and can make the best possible decision. But in real life, this is rare!

MANAGEMENT SCIENCES