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Exam 2 Managment

Chapters 6,7,8,9

QuestionAnswer
Inadequate up-front planning is a primary contributor to the failure of a project
The benefits and pitfalls of planning 1.Choosing a goal 2.Developing a method or strategy to achieve a goal
pitfalls of planning better method: 1. Set goals 2. Develop Commitments 3. Develop effective action plans 4. Track progress towards goal achievement's 5. Maintain flexibility
What does S.M.A.R.T stand for? Specific, Measurable, Attainable, Relevant, Time-Bound
Action Plan Lists the specific steps, people, resources, and time period needed to attain a goal
Apply planning to work tasks 1. Methods for tracking progress 2. Options-based planning can be adopted to maintain flexibility
Methods for tracking progress setting proximal goals and distal goals
Distal goals Long-term or primary goals
Proximal goals Short-term goals or subgoals
Options-based planning Keeping options open by making small, simultaneous investments in many alternative plans
Leaves commitments open by maintaining slack resources
Slack resources Cushion of extra resources that can be used to adapt to unanticipated changes
Top management Responsible for developing long-term strategic plans
Purpose statement Declaration of a company’s purpose or reason for existing
Strategic objective Specific goal that: -Unifies company-wide efforts -Stretches and challenges the organization -Possesses a finish line and a time frame
Middle management Develop and carry out tactical plans to accomplish strategic objectives using management by objectives
Tactical plans Direct behavior, efforts, and attention over the next six months to two years
Management by objectives Managers and employees: -Discuss and select goals -Develop tactical plans -Meet regularly to review progress
Lower-level managers Develop and carry out operational plans
Operational plans Day-to-day plans for producing or delivering the organization’s products and services over a 30-day to six-month period
Types of Operational Plans -Single-use plans -Standing plans -Budgeting
Single-use plans Cover unique, one-time-only events
Standing plans Used repeatedly to handle frequently recurring events -Types - Policies, procedures, and rules and regulations
Budgeting Managers decide how to allocate available money to best accomplish company goals
Decision making Process of choosing a solution from available alternatives
Rational decision making Systematic process of defining problems, evaluating alternatives, and choosing optimal solutions
What is it K-T methodology? Kepner Tregoe is used for decision making: -a structured methodology for gathering information and prioritizing and evaluating it. -very detailed and complex method applicable in many areas, which is much broader than just idea selection. -a root cause
In the decision-making process, groups perform better than individuals in: -Defining the problem -Generating alternative solutions
Groupthink Caused by pressure within the group for members to agree with each other -Takes considerable time -Individuals can dominate group discussions
Group decision-making techniques Methods of creating C-Type conflicts (a good type of conflict meant to further creativity in the group.
Devil’s advocacy Assigning an individual or a subgroup the role of critic
Dialectical inquiry Decision makers are forced to: -State the assumptions of a proposed solution (thesis) -Generate a solution that is the opposite (antithesis) of that solution
Nominal group technique -Begins and ends by having group members write down and evaluate ideas -Improves group decision making by decreasing a-type conflict
Delphi technique Members of a panel of experts respond to questions and to each other until reaching agreement on an issue
Popular Management sets

 

 



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