...INTRODUCTION TO MANAGEMENT UNIT 7 Managerial Decision Making Source: Daft, R.D. (2005). Management. 7th ed. Chp. 9. At the end of this unit students should be able to: * Explain the importance of Decision Making to the organization. * Differentiate between Programmed and Non-Programmed Decisions and relate the various degrees of Certainty and Uncertainty. * Describe the characteristics of different Decision Making Models. * Outline the Decision Making process, using current organizational issues. * ------------------------------------------------- Distinguish between the Personal Decision Making Styles used by managers. Decisions and Decision Making A Decision is a choice made from available alternatives Decision Making is the process of identifying problems and opportunities and resolving them Categories of Decisions * Programmed Decisions * Situations occurred often enough to enable decision rules to be developed and applied in the future * Made in response to recurring organizational problems * Non-programmed Decisions – in response to unique, poorly defined and largely unstructured, and have important consequences to the organization Certainty, Risk, Uncertainty, Ambiguity * Many decisions that managers deal with every day involve at least some degree of uncertainty and require non-programmed decision making * May be difficult to make * Made amid changing factors * Information may...
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...1. I think that it is important for HR to be a strategic partner for a business because HR partners help Motivate, engage and help retain exceptional employees for the company. They also help to do this by having the right Training curriculums to help enhance employee’s current skills or provide them with new skills that are in line with the businesses activities which will help in time improve the company’s capability and functionality. They also help in the design and guidance of creating incentive plans for employees in order to motivate them and help give them a push to improve in the work environment. HR is strategic partners because they are the bridge that lies between the employees and the employers. They are the guidance between the two entities as to how to do things or handle matters in an appropriate matter according to company standards or rules. They also take a great part in incorporating within the company its beliefs on the importance of the corporation’s plans in its entirety. HR is set in place to help the company by instilling in everyone the corporation’s policies and procedures throughout and making sure that it is being followed. In all HR is a great strategic partner in any company because they help keep the company in order and help implement rules and regulations in order within for the company to run properly and according to company standards. They are the backbone you can say to a company that will help them achieve their goals internally by providing...
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...Introduction Changes are inevitable in the market. With the development of technology, people’s living style and demand will be change as well, so managers have to expand the size of business to make the organization more perfect and get effective, efficiency achievements. According to expand business, the company should do more international trade, it will make the globalization and the globalization has more benefits. For example, it can reduce the goods costing, which some countries can open the factories on China. However, the globalization has some disadvantages. For example, the global financial crisis occurred on 2008. This essay is going to analyses how globalization and global financial crisis in the business environment impact on the organization you work in and the tasks you undertake. The globalization refers to the system of contact among the countries of the world in order to improve the global economy. The globalization is the amalgamation of economics and societies all over the world. Globalization including economic, technological, political, and cultural exchanges made possible largely by advances in communication, transportation, and infrastructure (Hotbabefacthicks, 2010). The global financial crisis refers to a widespread economic emergency that began in 2007. Beginning with the crash of the United States financial system, the crisis quickly spread worldwide, thanks to the interconnected marks of modern global trading systems. It is still impossible...
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...Preparing for Innovation: Understanding How IT Organizational Change Can Help Drive Success with Unified Communications Table of Contents Introduction ................................................................................................................................................................................................................................................. 1 Unification and Change ............................................................................................................................................................................................................................ 2 Microsoft and Unified Communications.............................................................................................................................................................................................. 2 Unified Communications Purchase Drivers and Process................................................................................................................................................................. 3 IT Organization Purchase Drivers ...................................................................................................................................................................................................... 3 Business Organization Purchase Drivers................................................................................................................................................
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...Marketing Management Sample Exams Questions Question 1 Your company supplies components for the automotive industry. Your largest customer has recently announced that it is moving towards a lean manufacturing system that will adopt ‘just-in-time’ principles of component delivery within one year. Write a report to your marketing director stating the implications of this announcement and suggesting what your company should do in order to be prepared for this change within one year. Question 2 Marketing is continuing to evolve. Identify and explain what in today’s marketplace you consider to be the important elements in the making of quality decisions within the overall marketing planning process. Illustrate your answer with appropriate contemporary examples. Question 3 (a) Identify and briefly explain the key factors and sub-factors that influence consumer behaviour. (b) Discuss the nature and importance of reference groups in the context of consumer buying behaviour. Question 4 Identify and describe the nature of the major elements of the communications mix, and state under which conditions each would be more appropriate. Provide an example of each element. ...
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...Chapter 5. 전략적 생산용량 계획 1. 생산용량 - 용어정리 ∙ 생산용량: 한 생산단위가 처리 할 수 있는 최대 부하 (표현: 물리적 단위의 양, 서비스 건수) (일정 기간 동안에 특정 생산 시스템이 생산 할 수 있는 제품이나 전달할 수 있는 서비스의 상한) ∙ 생산단위: 공장, 부서, 기계, 점포, 작업자 등 ∙ 생산용량 요구 대상: 장비, 공간, 종업원의 능력/기능 등 - 전략적 생산용량 계획 목적: 예상 장기 수요 = 장기 공급능력 - 생산용량 불균형(원하는 수준의 생산용량 ≠ 현 생산용량) 발생원인: 수요변동, 기술변화, 환경변화, 조직감지위협&기회 ∙ 생산용량 과잉: 과다운영비용 ∙ 생산용량 부족: 생산자원에 스트레스 초래 + 고객 이탈(수요의 현실화 대기(생산용량 투자 지연) 성장 방해) ∙ 위험 분산 전략: 점진적 생산용량 증가 평가 생산용량 확장 - 생산용량 계획 필요 핵심정보: 생산용량에 필요한 용량의 종류, 양, 시기, 정확한 수요예측 ∙ 정확한 수요예측 고려사항: ① 해당 생산용량 확보에 드는 비용 & 기대수익 ② 잠재적 편익 & 위험(수요예측의 불확실성, 수요변동 수준, 비용, 이익, 생산용량의 변경 시점 등 포함) ③ 예측의 정확성(올바른 예측의 결정 가능성, 초래 결과 평가 필요) ④ 지속가능성 ⑤ 생산용량 변경의 방법 ⑥ 공급 사슬의 변화 부담 능력(해당 투입요소 늘리기 전에 공급선의 물량 소화 능력 점검 필수) - 생산용량 빈도(간헐적, 규칙적) 영향 요인: 수요의 안정성, 장비기술&제품기술의 변화, 시장 내 경쟁요인, 제품과 서비스의 종류&스타일 변화의 중요성 정기적 제품과 서비스 검토(원가, 경쟁력, 기타이유): 필요 시 생산용량 변경 1.1 생산용량 결정(경영진의 근본적 결정)의 중요성 (전략적 속성) 1) 미래의 수요를 충족하는 능력에 실제 영향: 생산용량(산출률의 한계지정) 수요충족 생산용량확보시 혜택존재 2) 운영비용 영향: (생산용량 = 수요) 운영비용의 최소화(실제 발생 어려움; 실제수요≠예측수요(주기적 변동)) 3) 자원의 장기적 일정 장소 고정 필요: 변경 발생 시 큰 비용 초래 4) 경쟁력 영향: 생산용량의 물량 소화능력, 유연성 존재 빠른 납기속도(경쟁우위) 5) 글로벌화(생산용량 결정 더 중요, 복잡): 공급사슬의 지리적 확장, 멀어진 시장 생산용량소요의 불확실성증대 6) 자원(자금)의 대규모소요: 충분한 시간적 여유 포함 계획필요(설계용량, 실제 가동시 수요사이에 격차발생위험 증가) 7) 생산용량은 보통 초기 투자의 주요 구성요소: 일반적; 생산용량&투자 정비례(반드시정비례는아님), 일반적; 용량이 작은 시설 단위 용량당 비용 > 용량이 큰 시설 단위 용량당 비용 8) 생산용량은 (경영)관리의 용이성 영향: 생산용량 적절 관리 용이 1.2 생산용량의 정의와 측정 1) 일반적인 정의 - 정의: 산출량 상한 생산용량 측정 어려움(해석에 따른...
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...Proceedings of the International MultiConference of Engineers and Computer Scientists 2012 Vol II, IMECS 2012, March 14 - 16, 2012, Hong Kong Criteria Weighting and 4-P Planning in Marketing Using Analytic Network Process Elif ALAYBEYOĞLU, Y.Esra ALBAYRAK, Tuncay GÜRBÜZ Abstract— The first of two major functions of the enterprises is producing goods and services, and the second is selling them. The relationship between production and consumption shows that marketing plays an important role in enterprises. Nowadays, the concept of marketing is customeroriented and aims to meet the needs and expectations of customers to increase their satisfaction. And the basics of marketing decisions are the choice of appropriate target markets, their analysis and the creation of strategic marketing plans with the elements of the marketing mix. While creating a marketing strategy, an enterprise must consider many factors. The creation of the strategy begins by deciding what the overall objective of the enterprise should be. The next step is to choose a strategy for the offering that will be most effective in the market. In this study, marketing strategies and marketing decisions in the new-product-development process will be observed, the criteria that are effective in this process will be defined and in order to reflect the real life situations as much as possible, the interactions among criteria will also be taken in consideration and Analytic Network Process (ANP) will be used to handle...
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...ASSET ALLOCATION BASED ON INVESTOR’S RISK PROFILING The risk profiling score came to 66 out of hundred which interpret the investor as a wealth keeper or a conservative investor. Conservative investing strategy is that seeks to preserve an investment portfolio's value by investing in lower risk securities such as fixed-income and money market securities, and often blue-chip or large-cap equities. Conservative Risk/Return Volatility: Low Return potential: Low After the risk profiling, Investor seems to be Income-oriented, conservative who are willing to accept only modest volatility limited growth. As the return potential is low, conservative investors look for a continuous source of income rather than growth. SAVINGS/CASH In Oder to meet the short term cash expenses it is always better to keep a certain portion of the total asset of the portfolio in the form of cash or savings account. More preferable is savings account because it can be withdrawn at any time and also will get interest. Mutual Fund Growth Fund The main aim of these schemes is to provide capital appreciation over medium to long term to the investors. These schemes normally invest a major part of their fund in equities and are willing to bear short-term decline in value for possible future appreciation. Growth Schemes are also known as equity schemes. MIP with Dividend option Monthly income plans with dividend option provides the investor an income in form of dividends. There is an option...
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...PROJECT--- * ACCORDING TO THE PROJECT MGMT. INSTITUTE USA A PROJECT IS AN ENDEAVOR TO ACOMPLISH A SPECIFIC OBJECTIVE THROUGH A UNIQUE SET OF INTERRELATED TASKS AND THE EFFECTIVE UTILISATION OF RESOURCES. * THE WORLD BANK HAS DEFINED PROJECT AS AN APPROVAL FOR A CAPITAL INVESTMENT TO DEVELOP FACILITIES TO PROVIDE GOODS AND SERVICES. * IT HAS A WELL DEFINED OBJECTIVE STATED IN TERMS OF SCOPE ,SCHEDULE, AND COSTS. * PROJECTS ARE “BORN”WHEN NEED IS IDENTIFIED BY THE CUSTOMER -- THE PEOPLE OR ORGANISATION WILLING TO PROVIDE FUNDS TO HAVE THE NEED SATISFIED. * IT IS THE PEOPLE (PROJECT MANAGER AND PROJECT TEAM) NOT THE PROCEDURES AND TECHNIQUES THAT ARE CRITICAL TO ACCOMPLISH THE PROJECT OBJECTIVE * PROCEDURES AND TECHNIQUES ARE MERELY TOOLS TO HELP THE PEOPLE DO THEIR JOBS. BASIC COMPONENTS OF A PROJECT A PROJECT IS A PRODUCTIVE ACTIVITY WHICH CAN BE ANALYZED,APPRAISED AND MONITORED INDEPENDENTLY. A MULTIPURPOSE RIVER VALLEY PROJECT IS A GIGANTIC PROJECT A PROJECT HAS SPECIFIC OBJECTIVES IN TERMS OF GEOGRAPHICAL LOCATION ,SPECIFIC STARTING AND END POINT, AND MOST IMPORTANT ---TO SERVE A TARGET POPULATION BY ACHIEVING GOOD INVESTMENT RETURNS. CHARACTERISTICS OF A PROJECT THERE ARE FOUR BASIC CHARACTERISTICS A)INVESTMENT PATTERN (VALUE) B) BENEFITS AND GAINS C)TIME LIMIT (MAJOR FACTOR FOR COST OVERRUNS) D) LOCATION (AVAILABILITY OF RAW MATERIALS, MANPOWER ETC.) PROJECT CLASSIFICATION PROJECT CLASSIFICATION HELPS IN GRAPHICALLY EXPRESSING AND...
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...comportamentul consumatorului note de curs CUPRINS i . Noţiunile şi dimensiunile comportamentului consumatorului 3 1. Noţiuni şi concepte 3 2. Procese elementare în abordarea comportamentului consumatorului 4 3. Definirea comportamentului consumatorului 8 II. PROCESUL DECIZIONAL DE CUMPĂRARE 11 III. COORDONATE GLOBALE ALE STUDIERII COMPORTAMENTULUI CONSUMATORULUI 15 1. Informaţiile necesare studierii comportamentului consumatorului 15 2. Posibilităţi şi limite ale studierii comportamentului consumatorului 17 3. Studierea comportamentului consumatorului în contextul globalizării producţiei şi consumului 18 IV. Proiectarea şi realizarea studiilor comportamentale. Obiective urmărite 21 V. MODALITĂŢI PRACTICE DE STUDIERE A COMPORTAMENTULUI CONSUMATORULUI 26 1. Studierea comportamentului consumatorului în mediul concurenţial 26 2. Studierea activităţilor comerciale – punct de plecare în studierea comportamentului consumatorului 27 3. Comportamentul consumatorului şi imaginea magazinului 28 4. Studierea stilului de viaţă 30 5.Comportamentul consumatorului şi valoarea capitalizată în marcă 30 6. Cercetarea calitativă a comportamentului consumatorului 32 7. Cercetarea cantitativă a comportamentului consumatorului 33 VI. aplicarea rezultatelor studiilor comportamentale 35 1. Fundamentarea deciziilor de marketing prin rezultate ale studierii comportamentului consumatorului – segmentarea şi tipologia pieţei 35 2. Analiza de...
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...LITERATURE REVIEW In the article “Credit Risk Rating at Large U.S. Banks” authors William F. Treacy and Mark S. Care say that risk ratings are the primary summary indicator of risk for banks’ individual credit exposures. They both shape and reflect the nature of credit decisions that banks make daily. The specifics of internal rating system architecture and operation differ substantially across banks. The number of grades and the risk associated with each grade vary across institutions, as do decisions about who assigns ratings and about the manner in which rating assignments are reviewed. In general, in designing rating systems, bank management must weigh numerous considerations, including cost, efficiency of information gathering, consistency of ratings produced, staff incentives, the nature of the bank’s business, and the uses to be made of internal ratings. RATINGS MIGRATION SYSTEM An Internal Ratings Migration Study by Michel Araten, Michael Jacobs Jr., Peeyush Varshney, and Claude R. Pellegrino-- This article discusses issues in evaluating banks’ internal ratings of borrowers. Ratings migration analysis entails the actuarial estimation of transition probabilities for obligor credit risk ratings, with emphasis on estimation of empirical default probabilities. Measurement of changes in borrower credit quality over time is important as obligor risk ratings are a key component of a bank’s credit capital methodology. These analyses permit banks to more accurately assess...
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...Innovation is continual process and embedded systems represent a huge part of innovation in technology in the field of electronics. Embedded systems are found virtually everywhere. Perhaps my first linking to embedded systems was in eighth semester as a part of my curriculum, though I realised later that I was always surrounded by the embedded systems- cell phones, automated washing machines, etc. I was fascinated and amazed to see the embedded systems in all the real world applications. After working for 17 months as technical sales engineer with Arrow Electronics where I supported many embedded clients in different projects my zeal to advance in embedded systems increased. I want to pursue an MS degree in the field Electrical and Electronics Engineering with specialisation in embedded systems which will help to realise my goal to work as a design engineer and take embedded systems to a new height. This will in turn fulfil my ambition of bringing innovation in the development of ESDM (Electronic System Design and Manufacturing) in my country. Honestly, when I decided to do my Bachelors in Electronics Engineering it was mainly because of my inclination in the subject of physics and mathematics during my intermediate study. Electronics industry in my country is poised to become very vibrant and happening and my goal of contributing to the same further bolstered my decision to enrol for Bachelor of Engineering in Electronics at K.J. Somaiya College of engineering. The curriculum...
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...Overview of Operations The Nissan Revival Plan Success Ahead of Schedule First announced in October of 1999, the Nissan Revival Plan (NRP) went into action in April, 2000. Today, as it comes to its end, the NRP legacy is nothing less than a new Nissan. One that is profitable; one that is more efficient; one offering widely enhanced products and services; one that has created a new sense of excitement for employees, customers and other stakeholders. One full year ahead of schedule, the NRP has produced the best financial results in the company’s history. When the NRP was first announced, Nissan’s executive committee announced three bold commitments; if any of these were not met, the members promised to resign: • A return to net profitability in fiscal year 2000 • A minimum operating income to sales margin of 4.5 percent by fiscal year 2002 • Consolidated net automotive debt reduced to less than ¥700 billion by fiscal year 2002 Every one of these core commitments has been met—a full year ahead of schedule. Net profitability was achieved in the first year with net after-tax profits of ¥331.1 billion. This then grew in fiscal year 2001 to ¥372.3 billion—the highest yearly profit in the company’s history. The operating margin had already reached 4.75 percent by the end of the first year of the NRP; at the end of 2001 this had risen to a remarkable 7.9 percent— the highest in the company’s history. Consolidated automobile debt has been reduced to just ¥431...
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...Question 1 Calculate the Company’s Weighted Average Cost of Capital Bank Overdraft EAR = (1+i/n )^n - 1 (1 + 0.08/12) ^ 12 -1 = 0.0830 Cost of Bank overdraft: = EAR (1-t) = 0.830 (1-0.30) = 0.0581 Debentures Current market price = $309.29 Face value = $300.00 Annual coupon rate = 13.5% ( paid half yearly) Further flotation cost ( if any) = $1.50 (300* 13.5%) = 40.5/2 = 20.25 Present value of annuity = $20.25 Pmt = $20.25 MP= Pmt * 1 – ( 1)/ (1+i)^n i 20.25 * 1 – 1/ ( 1+ 0.00675)^ 14 0.0675 = $ 179.78 Discount back the face value to 0 = FV….. ( 1+i)^n = 300.00 = $120.21 (1+0.0675)^14 EAR = (1+6.4084%) ^ 2 -1 = .1323 Cost of debt = EAR ( 1- t ) .1323 ( 1-0.30) = 0.0926 Cost of Preference Shares (Keps) = Dividend Market Price 1.10 = 0.1358024 8.10 Dividend per share= 275000 = $1.10 250000 Cost of Ordinary Share Capital (Keos) = D 0 * ( 1+G) + G ...
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...Asl;va;hgo[pa#usg###########################################################factors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning the monitoring and assessment of work performancefactors involved in planning...
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