Chapter 5 Decision  1

 Chapter 5 Decision 

1. What are the benefits and pitfalls of planning?

2. What are S.M.A.R.T. goals and what do the letters in SMART stand for?

3. Steps for Planning:

4.Develop Commitment to goals:

5.What is the definition of a vision?

6.Tactical plans:

7. Management by objectives (MBO):
8. Operational Plans: which are the day to day plans for producing or delivering the organizations products and services. 

9. What are the steps in the rational decision making model?
10. What is satisficing?

11. Advantages and disadvantages of group decision making?
12. What are the different methods of group decision making?
13. What is Groupthink and what groups is it most likely to occur in?
14. Devil’s advocacy: creates c-type conflict by assigning an individual or a subgroup the role of critic. 

Chapter Six

1. Know the conditions that must be met if a firm's resources are to be used to achieve a sustainable competitive advantage  o Resources: the assets, capabilities, processes, information, and knowledge that the organization controls 
2. Know the steps of the strategy making process.
3. Be able to define and identify a SWOT analysis o Internal: Strengths and weaknesses

4. Strategic Planning:
5. BCG Matrix: is a portfolio strategy that managers use to categorize their corporation’s businesses by growth rate and relative market share, helping them decide how to invest corporate funds.

6. Problems with portfolio strategy

Chapter Seven

1. Know what change and resistance forces are and what they do.
2. Know Kurt Lewin’s 3 part process of managing change.
3. When will resistance to change occur?
4. What are the methods for managing resistance to change and when should they be used
5. Errors made when leading change
6. Organizational Development: is a philosophy and collection of planned change interventions designed to improve an organizations long term health and performance 
7. Which method of managing resistance to change should only be used as a last resort? a. Coercion 

Chapter Eight

1. What is global business?
2. What is protectionism?
3. Know Tariffs and non tariffs
4. What is a direct foreign investment?
5. What is a multinational company

6. Know all the ways to enter foreign markets
7. What is an expatriate?
8. Know  global consistency and local adaptation
9. What are the basic components of an attractive business climate