Scenario - Melissa Hill

question 3

Multiple Choice

Scenario - Melissa Hill
Melissa Hill, sales manager for One-Hit-Wonder Record Company, was trying to create a new strategy to turn around the declining record sales the company was facing. Melissa needed to find a way to find out what the customers really wanted, since One-Hit-Wonder didn't have accurate information like the competitors did. It was imperative that she find the correct strategy and information because the company was in financial trouble. The company's President wanted all employees to help find information and work as a team to develop better relationships that might help the company. He also stated that he wanted the company to remain an independent company. Melissa realized that through hard work and team efforts, the company could get back on its feet as soon as they got reliable information.
-Which of the following best describes One-Hit-Wonder's culture?

• A) Clan culture
• B) Achievement culture
• C) Consistency culture
• D) Adaptability culture
• E) None of these

Recognize the impact of management theories on the development of organizational structures and employee management strategies.

Identify the limitations of classical management theories in the context of modern organizational challenges and dynamics.

Understand the role of motion studies and their contributions to the enhancement of work methods and productivity.

Understand the historical evolution of management theories and their relevance to modern management.

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Definitions:

Payoff Matrix

In game theory, a diagram that shows how the payoffs to each of the participants in a two-player game depend on the actions of both; a tool in analyzing interdependence.

Dominant Strategy

In game theory, an action that is a player’s best action regardless of the action taken by the other player.

Bottled Water

Water that is packaged in plastic or glass bottles and sold for personal consumption, often purified or spring water.

Game Theory

A field of mathematics that analyzes competitive situations where the outcome of a participant's choice of action depends on the actions of other participants.