(Business Tools)
Fishbonee analysis
Restraining factors
Gantt Chart
Chance node
Decision Tree
parallel lines
List one advantage of using decision trees.
They provide quantifiable outcomes for difficult decisions
Define Force Field Analysis
A decision making tool iused to identify and weigh up the driving and the restraining forces regarding change faced by a business organization
How does the use of a fishbone diagram help managers?
It shows the main causes and effects of a problem
A stakeholder is anyone who is impacted by a company or organization's decisions, regardless of whether they have ownership in that company. Shareholders are those who have partial ownership of a company because they have bought stock in it
What is industrial democracy?
Industrial democracy is an arrangement which involves workers making decisions, sharing responsibility and authority in the workplace.
Give three examples of real-world pressure groups.
Trade unions, ethnic associations, churches, , Environmental groups, grassroots organizations, human rights
Draw a fully labelled Decision Tree Tool
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Create a Forcefield analysis of starting a canteen at school
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Silja Marine, a Finnish company, manufactures deep-sea diving equipment and GPS navigation devices. SM recently received some complaints that its navigation devices sometimes failed under extreme weather conditions. Rumours of the navigation failure began to circulate in the small diving community and sales started to slow down. After taking a closer look at the problem, engineers concluded that the problem resulted from manufacturing of the devices. The production is outsourced to a manufacturer in Bangladesh.
Recently, it has been reported that the manufacturer often takes too long to fix mechanical problems in its factory due to a lack of skilled personnel. There have also been instances of poor communications between the manufacturer and SM because of differences in language and culture. However, SM suffers from a lack of clear direction, a rigid hierarchical structure and the centralized decision-making. The company does not have any contingency plans and none of the managers have any experience with crisis management.
There is growing concern about the reputation of the manufacturer and SM is beginning to worry that its association might damage it corporate image in Finland. The management team at SM are keen to fix this, especially as shareholders have been concerned about the company’s slow response to dealing with problems.
Use an appropriate Business Tool to explain why SM has been slow to respond to the problem with its GPS devices .
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