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Management (MGT)

From Chapter 5 During the 2008 US presidential election campaign, then candidate (now President) Barack Obama said that, if elected, he would “renegotiate NAFTA" i) in 5 or 6 words, what is NAFTA 1 mark ii) in 4 or 5 sentences, explain NAFTA 2 makrs iii) Apart from Canada and the USA, what third country is party to NAFTA? 1 mark iv) If Mr. Obama did re-negotiate NAFTA, what do you 1 mark think the likely effect would be on Canadian GDP? v) Explain and justify your answer. 2 marks From Chapter 7 When Chris Bovaird was young, his behaviour and his early formation were managed by his mother. At Grandmother’s house on Sundays, Chris’ mother would tell him to wash his hands before coming to the dining room table. Occasionally, when Chris’ hands weren’t clean, she would send him back to the bathroom, saying “Those hands are not clean enough! Now go back and do it again!”. Which of the four activities which are fundamental to management, was Chris’ mother practicing? Explain and justify your answer. From Chapter 10 One of the first businessmen to adopt the Principles of Scientific Management proposed by Frederick Taylor was Henry Ford. Ford applied the Principles of Scientific Management at one of his automobile assembly plants. In the first six months after the adoption of the Principles of Scientific Management, the time it took to manufacture a single Model A Ford fell by 40 per cent. However, in the next eighteen months, productivity decreased, and the time it took to manufacture an automobile went back almost to the level it was at prior to the introduction of the Scientific Principles. Explain Taylor’s Principles of Scientific Management, and explain why productivity first increased so dramatically, and then why it subsequently decreased. Answers to Practice Questions Answer 1 i) in 5 or 6 words, what is NAFTA 1 mark The North America Free Trade Agreement ii) in 4 or 5 sentences, explain NAFTA 2 marks NAFTA is a trade treaty (i.e. a legal agreement) signed by the governments of the USA, Canada, and Mexico. The treaty commits the governments of those three countries to reduce or eliminate any barriers to free trade. The agreement calls for the reduction of any tariffs, quotas, subsidies and any other measures that would reduce or harm the ability of one country from exporting products to any other. The intent of NAFTA is to make the free flow of goods, services, people and capital easy so that producers in all three countries can compete on an even basis. Thus, consumers in those three countries have the maximum amo
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