must note that not all strategic planning will be the same‚ rather it will vary between organizations. Different organizations will approach the process with different degrees of sophistication‚ thoroughness and commitment. Some organizations due to resource limitations may be unable to follow the formal process of strategy formulation. Other organizations may lack the necessary managerial commitment to implement a strategic plan. Managers who utilize the concepts of strategy development informally without
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unfair labor practices for both management and unions. These are presented in Table 13-1 in your textbook. Read the Ethical Dilemma‚ “Are Unfair Practices Unethical‚” on p. 518 in your textbook and answer the question presented in the case. Questions and Answers Question: Are the unfair labor practice shown in table 13-1 (in the textbook) also unethical? Answer: The business dictionary defines ethics as “The basic concepts and fundamental principles of right human conduct. It includes study of
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0BProcess Improvement Interview Questions A Business Process: * Has a Goal * Has specific inputs * Has specific outputs * Uses resources * Has a number of activities that are performed in some order * May impact more than one organizational unit * Creates value of some kind for the customer Getting the Right Information People often assume that process discovery means detailed workflow modeling of a process. That is a mistake. The detailed workflow is just one part
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Competitive challenges facing Management: Globalization Information Technology Reducing costs through downsizing‚ outsourcing‚ & off shoring Change in demographic (age‚ gender‚ education) Change in laws and regulations such as increasing employee rights in workplace Ethics and social responsibility Work-family balance Importance of service sector History of Management I- Classical Schools (Major Axiom: There is only one best way to do the job): Scientific Management (Frederick Taylor‚ 1900-
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Statement of Purpose My father was always an inspiration right from my childhood with his strong work ethic‚ never-give-up attitude‚ and strong self-belief. He was a risk-taker‚ and had no financial support when he ventured into the Edible Oil Manufacturing and Trading Business. This had left an ever-lasting impression on me and it has now become my ambition to be a great entrepreneur like my father. To fulfill my ambition‚ I am keen to pursue a Master’s degree in business management. My other
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Features of HRM It has the following features: Pervasive force: HRM is pervasive in nature. It is present in all enterprises. It permeates all levels of management in an organization. Action oriented: HRM focuses attention on action‚ rather than on record keeping‚ written procedures or rules. The problems of employees at work are solved through rational policies. Individually oriented: It tries to help employees develop their potential fully. It encourages them to give their best to the organization
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Environmental scanning is one essential component of the global environmental analysis. Environmental monitoring‚ environmental forecasting and environmental assessment complete the global environmental analysis. The global environment refers to the macro environment which comprises industries‚ markets‚ companies‚ clients and competitors. Consequently‚ there exist corresponding analyses on the micro-level. Suppliers‚ customers and competitors representing the micro environment of a company are analyzed
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GCMMF’s endeavors. The vast and complex supply chain stretches from small suppliersto large fragmented markets.Management of this network is made more complex by the fact that GCMMF is directlyresponsible only for a small part of the chain‚ with a number of third party players(distributors‚ retailers and logistics support providers) playing large roles.Managing this supply chain efficiently is critical as GCMMF’s competitive position isdriven by low consumer prices supported by a low cost system
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on financial products and services through a public or private network‚ including the Internet Common E-Banking Services Retail ServicesWholesale Services Account managementAccount management Bill payment and presentmentCash management New account openingSmall business loan applications‚ approvals‚ or advances ELECTRONIC AUTHENTICATION Verifying the identities of customers and authorizing e-banking activities are integral parts
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actual workplace and firm’s supervisors for imparting training; while off the job training methods are quite expensive as they need a complete different set-up. Training here is imparted in an artificial set-up and outside experts are hired for the purpose. 7. Most popular on the job training methods include job rotation and apprenticeship training; while the popular off the job training methods include classroom lectures and simulation exercises. 8. On the job training is generally imparted in case
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