risks and uncertainties faced by the company and ways to overcome them; give 2 (two) concrete examples of business decisions that anticipate risks and uncertainties!
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7. Make a complete description of the various risks and uncertainties faced by the company and ways to overcome them; give 2 (two) concrete examples of business decisions that anticipate risks and uncertainties!
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- Write A if the statement is true and Z if the statement is false. ___1. Enterprise-wide systems provide management with a powerful tool for managerial decision making. ___2. The trend is to decentralize many of the office functions and services found in the modern organization. ___3. Facilities management is one of the areas giving administrative office managers a new career opportunity. ___4.The trend towards globalization is creating new challenges for administrative office managers. ___5. Roles are defined as those abilities individuals possess that enable them to carry out their specified tasks well. ___6. Human skills can be effectively learned through on-the-job training, but taking courses dealing with human skills are generally ineffective as a means of helping employees improve their human skills. ___7. Frederick Taylor, the father of the scientific management movement, believed in the need to identify one best way to perform a job. ___8. In management theory, the…1. What three (3) personal values should a manager possess to improve the organization's success in achieving/fulfilling its primary purpose? 2. Assumptions are used by management methods such as the Logical Framework Approach (LFA), Cost-Benefit Analysis, and Cost-Effectiveness Analysis to provide inputs for managerial decisions and actions. What is the logic of employing an assumption in coming up with or creating inputs for management decisions and actions, given that it is not guaranteed to hold? Is there any way to avoid making assumptions?What are the implications for a manager of making decisions without considering the components of the management process? When answering you must:to. Explain what the decision-making process consists of.b. Establish the parts that make up the administration process and how these impact the decision making of a manager in an organization.
- In not more than 150 words, respond to the reflective question. All management decisions consider quantitative information (factors which can be measured in numerical terms such as cost implication and change in profitability) and qualitative information (those that are difficult to measure in numerical terms such as satisfaction, business relationships, and morale). If you are given a task to weight factors for decision making, how much of 100% will you allocate to quantitative information and to qualitative information? Give a sample decision and the factors/criteria which should be considered.You are a Senior Manager at 123-Logistics overseeing the shipping department. 123-Logistics is a healthy, mid-sized company(similar to UPS/FedEx/DHL) with $350 million in yearly profit and 93% customer satisfaction rating. Currently, your team’s objective is to minimize the amount of late deliveries to ensure customer satisfaction. One day the Finance Director approaches you and tells you that instead of minimizing late deliveries, she wants to prioritize revenue to appease shareholders. The Vice President of Marketing overhears your conversation and suggests that the delivery drivers should instead spend more amount of time on the road to advertise the company logo. This in turn will result in wider brand recognition and more customers. Lastly, the Vice President of Operations joins the conversation to recommend another business objective but is cut off before she can provide a suggestion. From your conversation, • Which business objective do you think is the most important and why? •…Q1- “Too many managers today have forgotten that work should be inspiring and fun and are too out of touch with what makes people productive”. How would you respond to this assertion? Q2- What are the steps of effective decision making? Is there a difference between wrong decisions and bad decisions? Why do good managers sometimes make wrong decisions? Bad decisions? How can managers improve their decision making skills?
- Firm size, industry competition, CEO power and discretion and the level of stress a a CEO's job entails are factors in determining what? Select one: a. How large a board of directors an organization must have b. Whether an organization can function internationally c. A CEO's compensation package d. Employees' level of job satisfaction and overall feeling of internal support of their supervisorsReview Table 6.1: A Comparison of the Philosophies Used in Business Decisions (p.158). When you post your main Discuss post, please clearly label each part of your response so that we can all easily understand what part you are answering.The expression bounded rationality means a the cognitive limitations exist for human beings b that our understanding of complex situations is bounded by our personal anxieties c that no real rationality exists because we suffer from many psychological biases d that many strategic decision are taken. By noodle managers who lack the intelligence and imagination of top managers
- 5- Which one of the following statements qualifies Management as a science? a. Management uses different skills of managers to get work from different people. b. Management involves efficient use of resources to achieve goals. c. Management coordinates all other functions to achieve goals. d. Management is developing principles and rules based on experiments.Discuss non-programmed decisions with reference to Bain and Company. Use arelevant example of a non-programmed decision within the context of Bain andCompany to support your discussion.write a comprehensive summary (400-500 words) to discuss the following questions: What types of skills or attributes do you think managers need to be successful in their jobs? How should managers develop these skills?