General concepts
How many steps does the organizational planning process has?
5 steps (Develop the plan, translate the plan, plan operation, performance management, monitor and learn)
How many steps does the Model of the MBO Process has?
4 Steps (Set goals, develop action plans, review progress, and appraisee overall performance)
How many stages does the crisis planning has?
2 (prevention and preparation)
Mention the difference between programmed and Nonprogrammed decisions
Programmed decisions: involve situations that have occurred often enough to enable decision rules to be developed and applied in the future
Nonprogrammed decisions: are made in response to situations that are unique, are poorly defined and largely unstructured
Mention each of the 5 r's of the McKinsey model
Resolve, resilience, return, reimagination and reform.
Define the concept of mission
The organization’s reason for existence
Define the concept of Management by means (MBM)
A new systemic approach that focuses attention on the methods and processes used to achieve goals
Mention 2 benefits of planning
Goals and plans provide a source of motivation and commitment
Goals and plans guide resource allocation
Goals and plans are a guide to action
Goals and plans set a standard of performance
Mention the difference between certainty and uncertainty
Certainty: situation in which all information the decision maker needs is fully available
Uncertainty: goals are known, but information about alternatives and future events is incomplete
Recovery plan of the business as soon there is stability, this "R" stands for...
Return
The key performance indicators (KPIs) is a tool used to...
Assess what is important to an organization and how well the organization is progressing toward achieving its strategic goal
Define the concept of Management by objectives (MBO)
Is a system whereby managers and employees define goals for every department, project, and person and use them to monitor subsequent performance
Mention 2 limitations of planning
Goals and plans can create too much pressure
Goals and plans can create a false sense of certainty
Goals and plans may cause rigidity in a turbulent environment
Goals and plans can get in the way of intuition and creativity
How many steps does the decision making process has?
1.Define the problem
2.Identify relevant criteria to make the decision
3.Weight the criteria
4.Generate alternative courses of action
5.Evaluate each alternative
6.Calculate the optimal decision
Understand the new competitive and regulatory environment in the industry and its impact on the future of the business, this "R" stands for...
Reform
What is an strategy map?
A visual representation of the key drivers of an organization’s success, show how specific goals and plans in each area are linked.
Mention 3 benefits of the MBO
Improves employee motivation, aliangs individual with companies goals, improve performance of the company, focus efforts on activities that will lead to the goal
This type of planning defines company´s responses to be taken in the case of emergencies, setbacks, or unexpected conditions....
Contingency planning
Name of the decision-making model based on rational economic assumptions and manager beliefs about what ideal decision making should be.
Classical model
Cash flow management and immediate actions to protect the business during closings and critical stages, this "R" stands for...
Resilience
Mention 4 characteristics of an effective goal
-Have a define time period
-Cover key results areas
-Are challenging but realistic
-Are linked to rewards
Mention the difference between strategic, tactical and operational goals.
Strategic goals: statements describing where the organization wants to be in the future
Tactical goals: the results that major divisions and departments within the organization intend to achieve
Operational goals: specific results expected from departments, work groups, and individuals
This type of planning prepares organizations, managers, and employees to cope with catastrophic events that could destroy the firm.
Crisis planning
Name of the model that takes nonprogrammed decisions when conditions are uncertain, information is limited, and there is manager conflict about goals to pursue or action to take
Political model
Immediate changes due to contingency in workforce, technology, clients and business partners.. This "R" stands for..
Resolve