Answers to ma’am questions pom ppt fr exam refernce
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Answers to maam questions
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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
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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
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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
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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
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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
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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
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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
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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
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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
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SWOT Analysis(Environment scanning- Internal
analysis of the firm)
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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.
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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:
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SWOT Analysis Framework
Environmental Scan
/\
Internal Analysis External Analysis/ \ / \
Strengths Weaknesses Opportunities Threats
|SWOT Matrix
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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
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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
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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
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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
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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
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SWOT
Analysis for
Starbucks
Coffee
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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
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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
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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.
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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
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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.