From “Netflix is Turning Viewers Into Puppets”: Americans still watch more movies on physical format like DVD and Blu-Ray discs than they do from the internet.
From “The Price War Over the Cloud”: Commentators in the broadcast make a comparison between cloud services and a utility (e.g. electricity, water, etc.). Why?
Because like a utility you only pay for what you use
From BIS Basics: Cloud computing often lowers start-up costs and levels the playing field for small businesses.
From “Netflix Gambles on Big Data”: The article states Netflix has something traditional networks don’t have, what is that?
access to our viewing habits
From BIS Basics: The software sold by Oracle and SAP would best be described as _____________.
Enterprise Resource Planning software
From “Why the Quants Don’t Know Everything”: According to the author, what is the downside of increasing gigabytes of intelligence data for the NSA?
the inability to prioritize essential intelligence
From “Why the Quants Don’t Know Everything”: According to the author, the more a field is run by a system the more that system creates incentives for everyone to behave in honorable ways.
From “Netflix Gambles on Big Data”: The article notes traditionally shows are ordered based on the pilot, but that Netflix ordered 2 years of “House of Cards” without seeing a single scene. What gave them the confidence to do this?
Data mining and algorithms
From “How Big Data Is Changing The Equation”: The article noted an online assessment for a potential job candidate might ask the candidate to solve a problem requiring calculus the applicant is not expected to know. What value does asking this question provide?
The way the applicant answers it provides valuable data about how someone will deal with challenges
From “How Big Data Is Changing The Equation”: What technique did Ford use to determine whether to include the “three blink” turn indicator on all its cars?
a text mining algorithm on owner forums and auto-enthusiast websites
From “The Price War Over the Cloud”: According to the article how do cloud services like Google and AWS help start-ups?
they lower start-up costs for them
From “Why Quants Don’t Know Everything”: The author notes the rise of the quants has four stages. Stage four is synthesis. What does this mean?
marrying quantitative insights with old-fashioned subjective experience
From “Netflix is Turning Viewers Into Puppets”: The author is concerned the Big Data approach to show and movie making will have a negative impact on what?
The creative process
From BIS Basics: Data has been analyzed and summarized.
From BIS Basics: All of the following are attributes necessary for creating useful information, except:
must be numerical
A planning system that schedules the precise quantity of materials needed for production is called
Connecting and integrating all parties or members of the distribution system in order to satisfy customers would be called what?
supply chain management.
From 60 minutes: Erik Brynjolfsson, one of the MIT professors interviewed, notes jobs which are routine, middle skilled, and have structured tasks are ideal for automation by robots. What examples does the show give of this happening?
A. ATM machines replacing bank tellers
B. Automated ticket kiosks for air travel
C. Robots assisting surgeons in surgery
D. Robots filling prescriptions
Money, employees, time, and equipment represent an airline’s ______ to the transformation process.
From “Requiem for A Dreamliner” The author notes there is now much less margin for error in the aviation industry than 40 years ago. Why?
There has been a quality revolution and expectations of regulators and customers are much higher
The term used to refer to the raw materials, components, completed or partially completed products, and pieces of equipment a firm uses is
From “Will 3D Printing Change the World?”: Carine Carmy of Shapeways claims the all of the following about 3D printing and its impact on the economy (check all those that apply):
There doesn’t have to be a market ready – since its produced “on demand”
It means no inventory is needed
It will allow someone to bring a product to market with no risk
Minimizing inventory by providing an almost continuous flow of items from suppliers to the production facility is referred to as
From “How to Freak Out Responsibly” The author makes all of the following arguments against the “rise of the robots” except what?
Increased employment at the companies making robots will be much greater than employment destroyed by robots.
From “Apple’s Supply-Chain Secret”: The article quotes Mike Fawks as saying that,”_______________ is as big an asset for Apple as product innovation or marketing.”
From 60 Minutes: The program notes many believe robotics will level the playing field against foreign manufacturing competition, leading to less outsourcing and more manufacturing in the U.S. The show goes on to say even through manufacturing may return to the U.S. most of the jobs will go to who?
From “Apple’s Supply Chain Secret”: Apple’s supply chain expertise allow them to
*handle massive product launches without having to maintain large inventories
*compete in price sensitive markets where margins are low
*track demand by the store and by the hour to adjust production forecasts daily
*ship directly from Chinese factories to consumers’ doors
From “How to Freak Out Responsibly” The author states our problem is not too many robots, but what?
A deficit of demand
From “Will 3D Printing Change the World?”: Michael Weinberg of Public Knowledge hopes industries that get disrupted by 3D printing will follow the music industry’s example of how it dealt with the disruption of digital music.
From “Requiem for A Dreamliner” What was the development strategy Dreamliner advocates came up with to satisfy the finance folks?
Which of the following requires an increasing degree of organizing within an organization?
In developing a new car GM has decided to set up a structure with two intersecting lines of authority. This is most likely what type of structure?
Grouping of jobs into working units is specialization.
Dress codes, work habits, extracurricular activities, and stories are informal expressions of an organization’s
From “Why Companies Fail”: The article notes companies rarely change unless they are?
On the brink of disaster
_____________________ is the division of labor into small specific tasks.
A company that has departments for marketing, finance, personnel, and production is organized by
From “Why Companies Fail”: The article states that one possibility for why firms don’t change is ___________.
_____________ requires organizing.
In decentralized organizations, lower-level managers have a good understanding of their external environment and need to react quickly to it.
Which of the following statements is true about corporate culture
It is expressed both formally and informally
It has a strong impact on an organization’s performance.
It helps ensure all members of the company share values and suggest rules for how to behave.
Flat organizations have narrow spans of management.
Organizational structure is defined as
the arrangement or relationship of positions within an organization.
From “Why Companies Fail”: The article notes customers often hold back the necessary change within firms.
From “Why Companies Fail”: The article notes GM has fixed every other problem anyone could name (cost disadvantage, too many divisions/brands, and a bloated dealership). What is left?
All of the following are functions of management except
From “Turn Around Trap”: According to the author what TWO things contributed to CEO Ron Johnson’s failure at JC Penny? (This is a multiple answer question, so select two answers)
His implementation was too fast and not tested
He misread Penny’s customers
From “In Praise of Micro Managers”: According to the article micro managers are important to the innovation process because they do what?
They drive execution
Management is a process
of coordinating resources to achieve objectives.
The type of planning conducted on a long-range basis by top managers is usually called
According to the text, all of the following are skills needed by managers except
Staffing involves forecasting events and determining the best course of action from a set of options or choices.
Positions such as foremen, supervisors, and office managers are examples of
first line management
From the SWOT video: These are things that are internal and the business has some control over (select 2).
From the “Porter’s Five Forces” video: Michael Porter notes the Five Forces Model addresses the underlying drivers of what in an industry?
From “The Turnaround Trap”: The author acknowledges Johnson had great success at Target and Apple and undoubtedly has great skills, but the assumption he could do the same at JC Penny was a classic “attribution error” in which people ignore the importance of what?
From the “Porter’s Five Forces” video: Porter says are typical notion of competition is too narrow.
All of the following are typical resources that must be acquired by each organization in the pursuit of its objectives except
laws and regulations.
Maslow’s hierarchy is important to managers because
workers won’t be motivated to contribute to the organization’s goals until their basic needs are met.
Jane learned that, although she and June were both hired as part-time salesclerks at the same time and have similar backgrounds, June is paid $1 more per hour. Jane decided to stop cleaning dressing rooms on her shift because she thinks this is unfair. This is an example of
When explaining employee motivation through Herzberg’s two-factor theory, all of the following represent motivational factors except
Job rotation attempts to reduce the boredom created by specialization of tasks by
giving workers a variety of tasks to do, moving from one to the other on a regular basis.
From “The Happiest People Pursue the Most Difficult Problems”: Ms. Moss Kantor notes there are three Ms that function as the primary sources of motivation. Which of the following is NOT one of those Ms?
The satisfaction you personally feel when you attain a goal is called
From “What Makes Employees Work Harder: Punishment or Pampering”: The author notes in general the punishment or “Feel-Bad” strategies work best at motivating employees.
The Hawthorne Studies were important because they
introduced the idea that social and psychological factors affect productivity and morale.
Early management theorists thought money was employees’ primary motivation.
Herzberg’s two-factor theory proposes that
the absence of certain work setting hygiene factors may dissatisfy workers.
Maslow’s hierarchy shows
the order in which people strive to satisfy their needs.
A work system that allows employees to choose their starting and ending times as long as they are at work during a specified core period is called
The higher-level goals in Maslow’s hierarchy and the motivational factors identified by Herzberg are important in motivating employees to work harder.
From “What Makes Employees Work Harder: Punishment or Pampering?”: The author notes research shows productivity largely increased during the Great Recession because employees laid off their least productive workers (“weakest links”) making the remaining team more productive.
Positive rewards for acceptable behavior tend to be more effective in the long run than negative punishments for unacceptable behavior.
From, “The Cult of the Faceless Boss”: The author states the “raging egomaniac” leaders such as Henry Ford, Thomas Watson, Bill Gates, and Steve Jobs are people who have
created the future
From the Leadership PDF: Peter Drucker is quoted as saying, “Management is doing things _______, leadership is doing the ______ things.”
From “Values Based Leadership”: The author states becoming the best kind of leader isn’t about emulating a role model or historic figure, but rather about what?
being rooted in who you are and what matters most to you
From, “In Praise of Dullness”: What were the traits that correlated most powerfully with CEO success?
Attention to detail, persistence, efficiency, analytic thoroughness, and the ability to work long hours.
From Strengths Based Leadership: What are the four domains of leadership strength according to Gallup’s research (mark the four)?
From, “The Cult of the Faceless Boss”: The author notes that in general, the corporate world needs its what?
From, “In Praise of Dullness”: The traits corresponding to successful C.E.O.’s correlate well with education
From Leadership PDF: Leaders are concerned with “compliance” and managers are concerned with “change”.
From Leadership PDF: Match the description with the type of leadership.
Make a decision and announce it.
Leader presents issue, gets input from employees, and then makes decision.
Leader defines boundaries and employees are free to operate how they wish within these boundaries.
From, “The Cult of the Faceless Boss”: The author states there is no long-term comparative advantage in being
From Strengths Based Leadership: Well rounded leaders who attempt to be competent in all areas are the most effective type of leaders.
From Strengths Based Leadership: Match the % of engaged employees to the management strategy.
Managment fails to focus on employees’ strengths.
Managment focuses on the employees’ strenths
From Strengths Based Leadership: Effective leaders are self aware and realistic about what?
their own talents and strengths
From Strengths Based Leadership: Unlike leaders, the most effective teams are well rounded.
From, “In Praise of Dullness”: Jim Colllins found the best C.E.O’s were flamboyant visionaries.
Until recently, the United States could produce oil-drilling equipment more efficiently than all other countries, and, in a sense, monopolized the industry. In the market for oil-drilling equipment the United States had a(n)
Nations trade with other nations to obtain resources that would otherwise be unavailable to them.
If companies research cultural differences before engaging in foreign trade, problems that might arise from cultural differences can be
Licensing is a way of entering the international marketplace without spending large amounts of money abroad
To reduce dollars flowing out of the country, the United States can limit the number of Japanese cars being imported by imposing a(n)
The fact that the American company 3M owns a film-manufacturing facility in Italy is an example of
a direct investment.
Check all of those that would be considered potential social and cultural barriers to trade.
Issues with spoken or written translation
Body language and personal space
different perceptions of time
From “Did China’s Central Bank Take Your Job?”: Why would China, or any country for that matter, want to keep their currency undervalued?
it makes their exports cheaper
Because many countries do not permit foreign companies to purchase and operate facilities in their countries, a company wishing to do business in such a country may share the business costs with the host country by forming a
Direct investment is the least risky and least expensive way to participate in foreign trade.
From “Did China’s Central Bank Take Your Job?”: The program notes that while China may be increasing the supply of its money, the United States central bank created roughly a trillion dollars, which almost certainly is
keeping the value of the dollar lower than it would have otherwise been
When Weseeyu, Inc., of Rochester, New York, sells contact lenses to a firm in Moscow, Weseeyu
is exporting the lenses.
Because Colombia can produce coffee so much more efficiently than other items produced there, it has which of the following advantages?
From “The Dollar is Still Central to the Global Economy”: The program notes the United States gets huge advantages from being the world’s reserve currency – notably
Not having to pay currency exchange fees for our trade
Lower interest rates
From “The World According to Mohamed El-Erian”: El-Erian claims the “new normal” will be characterized by
A. stocks and bonds won’t do well for many years
B. countries like the U.S., Japan, and Germany will have less influence
C. countries like China, Brazil and India will have a lot more influence
From “Are the Accountants the Last Hope for the Ecosystem?”: Theoretically if we could measure the value of ecosystems there would be what?
More of an incentive to protect them
From “Industry Awakens to Threat of Climate Change”: Nike feels the impact of climate change is significant enough that they have done what?
reported it on risk disclosure forms to the Securities and Exchange Commission
From “Citizen Nike”: Use of the Considered Index has led to the use of 20% more green materials and 17% less waste in Nike’s new shoes.
From “Will Economic Growth Destroy the Planet?”. Economist Herman Daley notes that what drives our need for growth and an every expanding pie is our unwillingness to share.
From “The Starbucks Cup Dilemma”: How many Starbuck’s paper cups find their way to dumps each year?
From Boston Consulting Group Report: Nike has done which of the following to ensure positive impacts on the environment and their bottom line.
Create an index to provide product teams with real-time feedback on how much waste a product is creating
Utilize preferred materials that have “zero toxins”.
created over 50 closed-loop systems
From “Are the Accountants the Last Hope for the Ecosystem?”: The author notes destruction of lakes, forests, etc do not show up on corporate or national balance sheets. Why is this important?
Because if there is not a value associated with it business and society in general won’t pay attention to it.
From “The Starbucks Cup Dilemma”: The article quoted Carol Patterson as saying that “building a volume is going to be the key to finding success (to the cup dilemma). To accomplish this what has happened?
Starbucks and its competitors have started to work together
From “Citizen Nike”: The article noted that the Considered Index was a great fit for Nike’s laid back culture.
From “Industry Awakens to Threat of Climate Change”: The article noted Coke embaced the idea of climate change as an economically distruptive force after what?
A decade of damage to their balance sheet
From “Will Economic Growth Destroy The Planet”? Economist Herman Daley states its impossible to place a price tag on all these externalities so we simply need to stop growing. He notes there is significant difference between growth and __________.
From “The Starbucks Cup Dilemma”: The article noted that only 5% of Starbucks stores currently recycle cups, and those 5% do it primarily because
it is required by law
From “Will Economic Growth Destroy the Planet?”. Economist Robert Mendelsohn makes the case that we want growth and people to get richer because
when peoples’ income rise they do more about the environment
From “Citizen Nike”: Hannah Jones, Nike VP for Corporate Responsibility, noted that after an internal study showed Nike was spending $800 million a year on materials that weren’t part of the finished sneaker, suddenly
it wasn’t whether landfills were bad, it was about the bottom line.
From “Will Economic Growth Destroy The Planet”? Economist Robert Mendelsohn maintains that to deal with environmental damages we need to start
pricing in the costs of negative externalities
From “We Need a New Way to Teach Ethics to Business School Students”: In Ariel Rubinstein’s experiment on laying off employees to maximize profit it was the students who got the data in “table” format who laid off the most.
From “When the Job Inspector Calls”: The article noted one of the biggest issues impeding improvement in factory conditions is the company’s business model (just-in-time delivery, last minute changes forcing OT, etc.). Which companies have acknowledged this?
Timberland and Nike
From “Doing the Ethical Thing Isn’t Automatic”: The article notes when their is an ethical issue and you ask yourself, “What would I do?”, the most honest answer is
I don’t know
From “Let’s All Feel Superior”: David Brooks cites a 1999 study in which 50% of respondents said they would make a stink if someone made a sexist remark in their presence. When researchers arranged for this to happen what percent actually protested?
From the Podcast “Why People Do Bad Things”: The Podcast notes psychologist and economists now think a lot of fraud is committed because why?
People like to help each other
From “We Need a New Way to Teach Ethics to Business School Students”: The article states often minor changes can produce big results. It mentions when you sign an honesty pledge (i.e. at the beginning or end of completing a form) and as an example points to study where having people sign an honesty pledge prior to filling out an expense report decreased misreported expenses by how much?
From “When the Job Inspector Calls”: The article discusses Richard Locke’s work on codes of conduct. Of the four conclusions he draws, which two are the ones that will have the biggest impact on factories changing?
a more collaborative relationship & the company’s (i.e. Nike or Apple) business model
From “We Need a New Way to Teach Ethics to Business School Students”: The authors mention two specific things that can be done to improve ethics – what are these? (This is a multiple answer question, so select TWO of the options below).
Structural solutions that force people to confront ethics
From “Let’s All Feel Superior”: Author David Brooks states when something atrocious happens people look for what?
some artificial, outside force that must have caused it
From “Doing the Ethical Thing Isn’t Automatic”: The article quotes Prof. Gino as writing that “unethical acts can become an integral part of the day-to-day activities” leading to individuals being
unable to see the inappropriateness of their own behavior
From Podcast “Why People Do Bad Things”: Toward the end the show notes that if these economist and psychologists are right and we are all capable of behaving in profoundly unethical ways without realizing it there are some concrete steps we can take to combat this. What is the example they provide?
Switching auditors every once in awhile
From the Podcast “Why People Do Bad Things”: The Podcast references a study where people who have been “cognitively primed” to think about business are significantly more likely to lie. Why is this?
Because they were so focused on goals such as competence and success.
From “We Need a New Way to Teach Ethics to Business School Students”: The authors maintain that, unfortunately, most business schools students want their dying words to be, “I maximized profits”.
From the Podcast “Why People Do Bad Things”: A psychologist on the show stated emissions testers have a hard time weighing the costs to the global environment when passing a car that has failed. Why is this?
Because the cost is abstract
From “When the Job Inspector Calls”: The article states their is growing evidence that appointing an outside body to audit and set standards is
not going as well as it should
The book notes that a disaster was inevitable at Newscorp because of what (mark all those that apply)?
Lack of internal controls
From Appendix B: This law requires executives to sign off on their firms’ financial reports.
From Appendix B: The book notes the main focus of future internet legislation will likely have to do with intellectual property.
From Appendix B: The book notes in some ways Dodd-Frank is attempting to improve on what previous act?
Indra Nooyi, CEO of PepsiCo, believes “(financial) performance without ____________ is not a long-term sustainable formula.”
What occurs when an employee exposes an employer’s wrongdoing to outsiders?
The most basic ethical concerns have been formalized through laws and regulations that encourage conformity to society’s values and norms
From Appendix B: _______________ bankruptcy temporarily frees a business from its financial obligations while it reorganizes and works out a plan with its creditors.
Studies have found a direct link between social responsibility and _________ in business
A set of formalized rules and standards that describe what a company expects of its employees is called a(n)
code of ethics
Social responsibility includes economic, legal, ethical, and voluntary responsibilities.
On the job what might encourage a person to engage in activities he or she might otherwise view as unethical?
Which of the following were cited in the text as conflicts of interest.
Manager’s acting in in their own personal interest instead of the company’s or owners.
The relationship between credit rating agencies and financial firms
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