Answers to ma’am questions pom ppt fr exam refernce

26
Answers to ma am questions

Transcript of Answers to ma’am questions pom ppt fr exam refernce

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 1/26

Answers to maam questions

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 2/26

DECISION STYLESHighHigh

LowLow

ToleranceTolerance

forfor

AmbiguityAmbiguity

RationalRational IntuitiveIntuitive

Way of ThinkingWay of Thinking

Careful decision makers

Adapt to new situation

Efficient,logical

use less information,few alternative

make decision fast

focus on short-term

Broad outlook examine

more alternative long

range find

creative solution

Work well with others

Receptive(open) tosuggestions ,Avoid

conflicts

BehavioralBehavioral

ConceptualConceptual

DirectiveDirective

AnalyticalAnalytical

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 3/26

Personal Decision Framework

Situation:

· Programmed/non-

programmed

· Classical, administrative,

political

· Decision steps

Decision Choice:

·Best Solution to

Problem

Personal Decision Style:

·Directive

·Analytical

·Conceptual

·Behavioral

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 4/26

Analytical Style

Complex solutions based on as much data asthey can gather

Carefully consider alternatives

Base decision on objective, rational data frommanagement control systems and othersources

Search for best possible decision based oninformation available

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 5/26

Conceptual Style

Consider a broad amount of information

More socially oriented than analytical style

Like to talk to others about the problem and possible

solutions

Consider many broad alternatives

Relay on information from people and systems

Solve problems creatively

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 6/26

Directive Style

People who prefer simple, clear-cut solutions

to problems

Make decisions quickly May consider only one or two alternatives

Efficient and rational

Prefer rules or procedures

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 7/26

Behavioral Style

Have a deep concern for others as individuals

Like to talk to people one-on-one

Understand their feelings about the problem and the

effect of a given decision upon them

Concerned with the personal development of others

May make decisions to help others achieve their goals

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 8/26

Six Steps in the Rational ManagerialDecision-Making Process

8

Evaluationand

Feedback

Diagnosisand Analysis

of Causes

Recognition of Decision

Requirement

Development of Alternatives

Selection of Desired

Alternative

Implementationof Chosen

Alternative

Decision-MakingProcess

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 9/26

Rational decision making model

Step Example

Recognizing & defining the situation A plant manager sees that employee

turnover has increased by 5%

Identifying the alternatives The plant manager can increase wages,increase benefits, or change hiring

standards

Evaluating the alternatives Increasing the benefits may not be

feasible. Increasing wages and changing

hiring standards may satisfy all conditions

Selecting the best alternative Changing hiring standards will take an

extended period of time to cut turnover,

so increase wages

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 10/26

Implementing the chosen alternatives The plant manager may need

permission from corporate

headquarters. The HRD establishes a

new wage structure

Following up and evaluating theresults

The pant manager notes that sixmonths later turnover has dropped to

its previous level

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 11/26

SWOT Analysis(Environment scanning- Internal

analysis of the firm)

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 12/26

A scan of the internal and external environment is

an important part of the strategic planning

process.

Environmental factors internal to the firm usually

can be classified as strengths (S) or weaknesses

(W), and those external to the firm can be

classified as opportunities (O) or threats (T). Suchan analysis of the strategic environment is

referred to as a SWOT analysis.

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 13/26

The SWOT analysis provides information that

is helpful in matching the firm's resources and

capabilities to the competitive environment in

which it operates. As such, it is instrumental in

strategy formulation and selection. The

following diagram shows how a SWOT analysis

fits into an environmental scan:

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 14/26

SWOT Analysis Framework

Environmental Scan

/\

Internal Analysis External Analysis/ \ / \

Strengths Weaknesses Opportunities Threats

|SWOT Matrix

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 15/26

Strengths

A firm's strengths are its resources and capabilities thatcan be used as a basis for developing a competitive

advantage. Examples of such strengths include: patents

strong brand names

good reputation among customers

cost advantages from proprietary know-how exclusive access to high grade natural resources

favorable access to distribution networks

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 16/26

Weaknesses

The absence of certain strengths may be viewedas a weakness. For example, each of the following

may be considered weaknesses: lack of patent protection

a weak brand name

poor reputation among customers

high cost structure lack of access to the best natural resources

lack of access to key distribution channels

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 17/26

Opportunities

The external environmental analysis may reveal

certain new opportunities for profit and growth.

Some examples of such opportunities include:

an unfulfilled customer need

arrival of new technologies

loosening of regulations

removal of international trade barriers

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 18/26

Threats

Changes in the external environmental also maypresent threats to the firm. Some examples of 

such threats include: shifts in consumer tastes away from the firm's

products

emergence of substitute products

new regulations

increased trade barriers

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 19/26

SWOT Analysis

STRENGTH 

High Brand Equity

Every Day Low price [ EDLP ]

Real estate and Infrastructure

Understanding Consumer

Preferences

W EAKNESS

Falling Revenue/ Sq Ft.

Unable To Meet Store Opening

Target

Perception Amongst Consumers

OPPORTUNITIES

Targeting Area More Prone To

Development

In Store Experience Improvements

New formats and consumption

space

THREATS

Competitors domestic and foreign

Economic Conditions

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 20/26

SWOT 

Analysis for

Starbucks

Coffee

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 21/26

Recruitment and Decruitment

Recruitment

 ± The process of locating, identifying, and attractingcapable applicants to an organization

Decruitment ± The process of reducing a surplus of employees in the

workforce of an organization

E-recruiting

 ± Recruitment of employees through the Internet Organizational web sites

Online recruiters

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 22/26

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 23/26

Market Penetration

Here we market our existing products to our

existing customers.T

his means increasing ourrevenue by, for example, promoting the

product, repositioning the brand, and so on.

However, the product is not altered and we do

not seek any new customers

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 24/26

Market Development

Here we market our existing product range in

a new market.T

his means that the productremains the same, but it is marketed to a new

audience. Exporting the product, or marketing

it in a new region, are examples of market

development.

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 25/26

Product Development

This is a new product to be marketed to our

existing customers. Here we develop andinnovate new product offerings to replace

existing ones. Such products are then

marketed to our existing customers. This often

happens with the auto markets where existingmodels are updated or replaced and then

marketed to existing customers

8/3/2019 Answers to ma’am questions pom ppt fr exam refernce

http://slidepdf.com/reader/full/answers-to-maam-questions-pom-ppt-fr-exam-refernce 26/26

Diversification

This is where we market completely newproducts to new customers. There are two types

of diversification, namely related and unrelateddiversification. Related diversification means thatwe remain in a market or industry with which weare familiar. For example, a soup manufacturerdiversifies into cake manufacture (i.e. the food

industry). Unrelated diversification is where wehave no previous industry nor market experience.For example a soup manufacturer invests in therail business.