Midterm W2010 exam notes

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Department
Management (MGT)
Course
MGTA01H3
Professor
Chris Bovaird
Semester
Summer

Description
MGTA03 – Winter 2010 March 5th Mid-Term Test – ModelAnswers Question 1 5 marks Part 1. Identify the degree of competition that exists in the Canadian banking industry. Answer: The Canadian banking industry is an Oligopoly 1 mark Part 2 You must explain and justify your response by listing four features of this degree of competition. Answer Award up to 4 marks, 1 mark for each relevant characteristic Because the Canadian Banking industry has the following characterisitics: 1. Small number of suppliers dominate the market (6 main banks = 95% market share) 2. Each bank is large (100s of branches, thousands of employees, $ billions of deposits) 3. There are barriers to entry: large capital needs economies of scale 4. There are barriers to exit (once you are up and running, it's hard to close down a bank.) 5. They watch each other's actions closely, and quickly match each others' prices/rates Question 2 6 marks TheAmerican Psychologist David McLelland developed the "needs motivation" theory. McLelland's theory suggests that every person possesses one of three basic motivational needs. According to Mclelland's theory, depending on which of these motivational needs each of us possess, we are likely to pursue a kind of career or work environment.. a) Identify and briefly explain (in one or two sentences) each of the three basic human motivators identified by Mclelland, David McClelland's 3 motivational needs Need for power (n-pow) These people are 'authority motivated'. They need to be influential, and to make an impact. Produces a need to lead and for their ideas to prevail. These people need personal status and prestige. Need for affiliation (n-affil) These people need friendly relationships and are motivated toward interaction with other people. Produces a need to be liked and held in popular regard. These people are team players. Need for achievement (n-ach) These people seek achievement, and attainment of realistic but challenging goals. Produces a strong need for feedback as to achievement and progress, and for a sense of accomplishment. b) For each of the three motivational needs, suggest an example of a job or career that might be pursued by someone people who possess each type of motivational need. Need for power (n-pow): job or career in a command and control environment, for example the military, or the police. Possibly a large corporation, with many clearly defined layers of hierarchy Need for affiliation (n-affil): job or career that involves working with people and helping them. Likely or suitable jobs for people with a high n-Aff would be: teacher, social worker, doctor or nurse, minister, etc. Need for achievement (n-ach): Any job that involves lots of individual challenges, and requires goal setting. Most likely a person with a high n-Ach would become self- employed, or start their own business as an entrepreneur. Question 3 4 marks David is a Master Baker, with over 20 years experience as Bakery Manager for a
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