Ib 1.6 - Organisational Planning Tools Essay - 2200 Words

Review Questions 1.6 1. Explain the meaning of ‘operational’, ‘tactical’ and ‘strategic’ decision-making. Operational Decisions refer to the routine and day-to-day decisions, such as those handled by junior management, e.g. deciding when a worker should go for their break and how to deal with customer enquiries and complaints Tactical Decisions refer to regular and short-term decisions that are normally handled by middle management, e.g. decisions about pricing strategies or recruitment and selection of staff Strategic Decisions refer to high-level and long-term decisions that set the overall direction for a business. Such decisions are dealt with by senior management since they carry more risk, e.g. which products to be developed,†¦show more content†¦What is a ‘SWOT Analysis’? SWOT Analysis is a simple yet extremely useful decision-making tool. SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats. It can be used to assess the current and future situation of the product, brand, company, proposal or decision. A SWOT Analysis considers both internal factors (the strengths and weaknesses) and external factors (the opportunities and threats) that are relevant to the issue or problem under investigation 5. Outline three advantages and two disadvantages of using a SWOT analysis. Advantages of SWOT: * Completing a SWOT Analysis can be quite simple and quick * It can be used for a wide range of decisions, such as how to react to the threat of a competitor entering the market * SWOT Analysis helps to determine the organisation’s position in the marketplace and therefore aids the formulation of corporate strategy for its long-term survival * The SWOT framework encourages foresight and proactive thinking, rather than relying on emotional or intuitive feelings * It can help to reduce the risks of decision-making by demanding objective and logical thinking Limitations of SWOT: * Critics of SWOT Analysis argue that it is too simplistic and does not demand detailedShow MoreRelatedCase Study148348 Words   |  594 Pagesdisposed of by way of trade in any form of binding or cover other than that in which it is published, without the prior consent of the Publishers. 2  © Pearson Education Limited 2011 Contents Acknowledgements Introduction Using this Manual Planning Your Approach Designing the Teaching Scheme A Guide to Using the Work Assignments A Guide to Using the Case Studies Strategy Lenses The Exploring Strategy Website A Guide to Using the Video Material Exploring Strategy Teachers’ Workshops TeachingRead MoreSales and Marketing for Financial Institutions80443 Words   |  322 Pagesthe development of its course material. Welcome Congratulations on choosing to complete your postgraduate studies with Kaplan. As an accredited higher education institution we specialise in postgraduate courses in applied finance and financial planning and are passionate about helping you reach your goals through quality education. Our courses are developed, presented and assessed by working professionals who are experts in their fields. This gives you an edge over your peers because you can applyRead Morepaul hoang answers72561 Words   |  291 Pagesto be presented in an appropriate format (for which 1 mark can be awarded). [5 marks] Person Specification for Head of Economics and Politics †¢ †¢ †¢ †¢ †¢ †¢ †¢ b) Ability to lead an experienced team of teachers Experience of teaching to IB level Must have proven leadership skills and be an effective team player Excellent communication and interpersonal skills Be prepared to maintain outstanding standards set by the school and Department Ability and willingness to offer extra-curricularRead MoreUAE Consumer Lifestyle Analysis42818 Words   |  172 Pagescoming online in 2009. Regardless, Abu Dhabi had a shortage of 48,600 residential units last year, or a 22% supply gap, and it will continue to experience a 9% residential supply gap in 2013, according to a report prepared by the Abu Dhabi Urban Planning Council (UPC). Overall, Abu Dhabi apartment rents were still 20% higher than those in Dubai. Outlook Despite the shorter-term effects of the recession and oversupply on the UAE rentals market, the number of rentals in expected to grow by 8