and Planning and Control 1. A budget is a plan of action expressed in financial terms. 2. Budgeting is a planning and control tool used by managers. |Identify objectives. |Compare actual results with budgeted (planned) amounts. | |Identify actions needed to achieve objectives. |Corrective action can be taken, if needed. | 3. The steps involved in the planning and control process are as
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HRM 4495 CH 7 Team decision making- pitfalls and solutions 1. Decision making is an integrated sequence of activities -gathering, interpreting and exchanging information -creating and identifying alternative courses of action -choosing among alternatives by integrating differing perspectives -opinion of team members -implementing a choice and monitoring the consequence 2. Individual decision making biases -Framing bias E.G. A spread disease in US, two plans were suggested
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printed and bound by RRD/Willard. The cover was printed by RRD/Willard. This book is printed on acid free paper. Copyright © 2009 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission
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. ORANA uses both its own sales staff and independent distributors to increase retail sales in Vietnam. Discuss the advantages and disadvantages of this strategy. ORANA realized the huge opportunity in covering new market areas due to the increasing demand in Vietnam as an emerging market, many indications showed that annual sales has a potential growth rate of around 20%, due to the increasing purchasing power, the middle class is growing, and people are willing to try new products. Therefore
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The Forces for Change is a framework to help you understand today’s radically changing world and synthesize the breadth of complex, fast changing, interdependent factors Are all changes bad? Change can be uncomfortable and awkward but it can also be positive. FORCES OF CHANGE AND THEIR ACCOMPANYING VALUES FORCES OF CHANGE & ACCOMPANYING VALUES Turbulence Intellectual capital, Intellectual propert, ,information sharing Networking, innovation, R&D INFORMATION AGE K-Economy GLOBALIZATION
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intellectual capital. We explore ways in which the organization can attract, develop, and retain human capital as well as the importance of recognizing the interdependence of these three activities. We also address the value of a diverse work force. 3. Third, we discuss the critical role of social capital, that is, the network of relationships among individuals. We address both social capital within organizations as well as across organizations. 4. The final section focuses on the
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Organizational Behavior Overview Organizational behavior seeks to explain the function of complex organizations and predict the outcomes of changes to their components or underlying dynamics. It is most often applied to private-sector businesses, but it can also be used to describe the dynamics of government agencies, religious organizations and even municipalities. The study of organizational behavior requires a multi-disciplinary approach that draws upon decades’ worth of sociological and psychological
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Consortium for Research on Emotional Intelligence in Organizations www.eiconsortium.org Self Directed Learning 1 Unleashing the Power of Self-Directed Learning Richard E. Boyatzis, PhD May 28, 2001 To be published in Ron Sims (ed.) (2002) Changing the Way We Manage Change: The Consultants Speak. NY: Quorum Books. Correspondence should be addressed to Richard E. Boyatzis, Department of Organizational Behavior, Weatherhead School of Management, Case Western Reserve University, 10900
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1 2. Leadership 4 3. Interpersonal Relations 7 4. Communication in organizations 9 5. Stress Management 13 6. Group Dynamics and Team Building
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Q.1) Explain briefly features of an IDEAL management control system? Management control is a process of assuming that resources are obtained and used effectively and efficiently in the accomplishment of the organization’s objectives. It is a fundamental necessity for the success of a business and hence from time to time the current performance of the various operations is compared to a predetermined standard or ideal performance and in case of variance remedial measures are adopted to confirm
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