Exam 19: Management Theory and Practice

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Evidence-based management is not a new or novel idea. Henri Fayol was an early proponent when he wrote management principles should be tried and checked by general experience.

(True/False)
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As the owners of the firm, the shareholders, became separated from those who managed the firm, the issue of _______ became important:

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According to Oliver Williamson, the move from markets to hierarchy (a firm) was based on two assumptions-bounded rationality and opportunism. What attributes of the firm make it superior to the market in dealing with these issues?

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Rosemary Stewart viewed the manager's job as consisting of demands, constraints, and choices.

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Ronald Coase would say that the firm, in most cases, is more efficient than the market in allocating resources because:

(Multiple Choice)
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"Actionable research" is the goal of management scholars.

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Since the time of Adam Smith the separation of ownership and control has not caused any problems.

(True/False)
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The business policy/strategy literature focuses primarily on how strategy is implemented rather than its formulation.

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