ADMN 201 Exam Sheet
Compact final-review sheet. Keep this page focused on recall, traps, and final corrections.
Active Traps
| Concept | Trap | Correct Recall |
|---|
| InternationalTradeTheory | Saying production cost for comparative advantage | Comparative advantage is based on lower opportunity cost (vs yourself) |
| BankOfCanada | Calling the tool “Open Market Securities” | The tool is Open Market Operations; securities are what the Bank buys or sells |
| MotivationTheories | Mixing theory names or categories | Know all eight theories and whether they are content/process or historical approaches |
| MotivationTheories | Thinking pay motivates | Pay is a Hygiene Factor (Herzberg); it only prevents dissatisfaction. |
| ManagementRolesMintzberg | Confusing manager roles with POLC functions | Mintzberg = 10 roles in 3 groups; POLC = planning, organizing, leading, controlling |
| RiskPropensity | Treating high risk as automatically good | Correct answer depends on fit with strategy, culture, and environment |
| CompetitionAct | Mixing false advertising, bait-and-switch, and collusion | Section 52 = misleading marketing; 74 = bait-and-switch; 45 = collusion |
Highest-Value Review
| Chapter | Focus | Recall Cue |
|---|
| Ch9 | Motivation | Herzberg: Hygiene (Comfort) vs Motivators (Growth) |
| Ch9 | Leadership | Charismatic: Envision, Energize, Enable |
| Ch8 | HRM Law | SHAPE: Safety, Harassment, Anti-Discrim, Pay Equity, Employment Status |
| Ch8 | Labour | CAN I WIN: Certification → Intervention → New Team |
| Ch10 | Operations | TQM Tools: Pareto, Fishbone, Control Charts |
| Ch12 | Marketing | CRM: Lifetime value of a customer > single transaction |
| Ch14 | Money | 3 Functions: Medium of exchange, Store of value, Unit of account |
| Ch6 | Management Roles | FIL-MDS-EDRN: Figurehead/Leader/Liaison; Monitor/Disseminator/Spokesperson; Entrepreneur/Disturbance/Resource/Negotiator |
| Ch2 | Environments | Boundary Bubble: Firm controls inside; Reacts to outside |
| Ch1 | Business Law | Competition Act buckets: collusion, illegal pricing, misleading marketing, deceptive promotion, pyramid selling |
| Ch5 | Trade | BRICS: Brazil, Russia, India, China, South Africa |
Must-Know Comparisons
| Comparison | Recall Cue |
|---|
| Absolute vs comparative advantage | Absolute = more efficient output; comparative = lower opportunity cost |
| Financial vs managerial accounting | Financial = external reporting; managerial = internal decision support |
| Figurehead vs leader | Figurehead = symbolic/ceremonial; leader = motivates, hires, trains, guides |
| Entrepreneur role vs disturbance handler | Entrepreneur = proactive change; disturbance handler = reactive crisis response |
| Publicity vs public relations | Publicity is attention/coverage; PR manages relationships and image |
| Exclusive vs selective distribution | Exclusive = very limited outlets; selective = some chosen outlets |
| Line of credit vs revolving credit | Know the textbook distinction and examples from Ch15 |
Final 24-Hour Rule
- Do light review only.
- Do not open broad new material.
- Fix active traps.
- Run a short mixed recall session.
- Stop when answers are getting worse from fatigue.