Week 2 Reflection Summary Mgt/230 Essay Example
Reflection Summary
During week two the group was presented with new information that helped to teach different aspects of planning as a management function. The different types of planning include strategic, operational, and tactical planning. Strategic planning involves looking into the long term goals and plans. Tactical planning translates broad goals and strategies into specific actions to be taken within different parts of an organization. Operation planning is the specific short term procedures done at lower levels of the organization. As problems in various companies were identified by the class a SWOT analysis was something that could be used to see what weaknesses, threats, strengths, and opportunities an organization has to combat issues. This is very important to see what the organization is doing wrong or right to help strengthen and decrease weaknesses and threats. It also helps a company to find its strengths and lean on them and to look for opportunities within the company. Then there are the threats to the company that we can try and get rid of like competition. Core competencies can be discovered during this process that gives firms a competitive advantage. We discussed how organizations can remain competitive by choosing strategy options that competitors are unwilling or unable to imitate. In making sure that plans are successful managers have to make sure they implement their strategies effectively and efficiently. Learning ethics and why they are vital to the hiring process was reviewed. Business ethics are the moral principles and standards that act as a guide for how those in the business world should act. Different ethical systems include universalism, egoism, utilitarianism, relativism, and virtue ethics. Egoism is doing the right thing that is best for one person where utilitarianism is doing the right thing for the group. Relativism is a fun one that influences business because it is based on opinions and behaviors.
During week two the group was presented with new information that helped to teach different aspects of planning as a management function. The different types of planning include strategic, operational, and tactical planning. Strategic planning involves looking into the long term goals and plans. Tactical planning translates broad goals and strategies into specific actions to be taken within different parts of an organization. Operation planning is the specific short term procedures done at lower levels of the organization. As problems in various companies were identified by the class a SWOT analysis was something that could be used to see what weaknesses, threats, strengths, and opportunities an organization has to combat issues. This is very important to see what the organization is doing wrong or right to help strengthen and decrease weaknesses and threats. It also helps a company to find its strengths and lean on them and to look for opportunities within the company. Then there are the threats to the company that we can try and get rid of like competition. Core competencies can be discovered during this process that gives firms a competitive advantage. We discussed how organizations can remain competitive by choosing strategy options that competitors are unwilling or unable to imitate. In making sure that plans are successful managers have to make sure they implement their strategies effectively and efficiently. Learning ethics and why they are vital to the hiring process was reviewed. Business ethics are the moral principles and standards that act as a guide for how those in the business world should act. Different ethical systems include universalism, egoism, utilitarianism, relativism, and virtue ethics. Egoism is doing the right thing that is best for one person where utilitarianism is doing the right thing for the group. Relativism is a fun one that influences business because it is based on opinions and behaviors.