Analyse and Evaluate Managerial Tools

At the end of the course, and having completed the Essential reading and activities, you should be able to: demonstrate understanding of core management concepts apply these concepts to specific business situations

• analyse and evaluate managerial tools such as balance sheets and marketing plans

• explain the relevance of social science to business practice. Examination advice The examination is a three-hour unseen written examination which may cover any and all aspects of the syllabus. In the examination you will be asked to:

• reproduce some knowledge

• give and justify your own opinions, using theory, knowledge and examples

• apply knowledge to new situations and make new connections between topics and concepts (synthesising different parts of the syllabus)

• compare and contrast different aspects of the syllabus

• critically analyse, assess, or appraise theories and concepts and their application to situations.

In the examination you must read the questions carefully to make sure you have understood them, choose the questions you wish to answer from the list available and manage your time carefully. You should always check the instructions on the examination paper before you begin and follow them carefully.This commentary reflects the examination and assessment arrangements for this course in the academic year 2018–19. The format and structure of the examination may change in future years, and any such changes will be publicised on the virtual learning environment (VLE). Information about the subject guide and the Essential reading references Unless otherwise stated, all cross-references will be to the latest version of the subject guide or current version of the online course.

You should always attempt to use the most recent edition of any Essential reading textbook, even if the commentary and/or online reading list and/or subject guide refer to an earlier edition. If different editions of Essential reading are listed, please check the VLE for reading supplements – if none are available, please use the contents list and index of the new edition to find the relevant section.

Answer two questions from this section.

1. ‘Principal-Agent Theory makes too many assumptions about human behaviour to be useful.’ Critically evaluate this statement, using theories and examples to justify your answer.

2. Explain the concept of Strategy-as-Practice and its value to managers. Discuss how it differs from more conventional approaches to strategy.

3. Identify three biases that managers may experience when recruiting a new staff member. Discuss how, and to what extent, it is possible to reduce these biases. You should make use of relevant theories in behavioural economics to answer this question.

4. Discuss key challenges when trying to construct a balanced portfolio. Briefly describe three security asset classes and their role in balancing a portfolio.

Answer two questions from this section.

5. What is inventory control? Critically evaluate the role that management science can play in inventory control.

6. Critically evaluate three possible approaches that a practising manager could use to optimise the work performance of their staff. Which do you think would be the most useful?

7. How has the decline of unions in the workplace influenced the role of HR within modern firms? Using relevant theories, provide examples to illustrate your answer.

8. Provide an example of a violation of the psychological contract, considering the impact on both the employee(s) and the firm. Evaluate the usefulness of the concept of the psychological contract for understanding work relationships.