Chapter 5
how often is group decision making used in U.S companies according to Forbes study
91% of time
Disagreements become personal rather than professional; often leads to anger, hostility, & resentment
A-type conflict (affective conflict)
"By failing to prepare, you are preparing to fail"
Benjamin Franklin
A group coming up with as many solutions to a problem as possible
Brainstorming
allocating appropriate financial resources to plans; money sends a clear message about priorities
Budgets
focuses on problem & issue related differences of opinion; judge the idea/ not the person
C-type conflict (cognitive conflict)
A panel of experts are brought together to solve problems
Delphi Technique
CEO requires another person to bring competing solution to any proposal to the table
Devil's advocacy
The person making a proposal must offer an solution that is opposite of the proposed solution
Dialectical inquiry
"Do not let day to day operations drive out planning"
Donald Rumsfeld
The results of a company's strategic plan should only be shared with employees at the end of the strategic plan cycle. T/F?
False
"Plan the work and work the plan"
Jim McGreevy
Group of experts brought together by President Obama in order to try to tackle various ways to reduce national debt
Simpson Bowles Commission
a core firm for McDonald's is?
burger king
Pitfalls of Planning
can impede change of prevent needed adaptations can create false sense of security planners can become detached
the process of choosing a solution from available alternatives
decision making
long term goals
distal goals
disadvantages to group decision making
groupthink, time considerations, one strong willed person can dominate
Benefits of Planning
intensified effort, persistence, direction, and creation of task strategies
Best practices in an organization's commitment to a goal would include which of the following?
make goal public
Who is responsible for carrying out tactics in an organization in order to achieve strategic goals?
middle management
advantages to group decision making
more perspectives, more expertise, better @ defining problem, better @ generating alternative solutions, better @ stating advantage/ disadvantages of each solution
Each group member independently writes down as many problems and solutions as possible; all ideas are shared/ discussed
nominal group technique
short term goals
proximal goals
systematic approach in which managers: define problem, evaluate alternative, and choose optimal solution for organization
rational decision making
Steps of making a plan work?
setting goals commitment to goals develop action plans track progress maintain flexibility
operational plans for unique, one-time events ex: BP's response to oil spill
single use plans
types of operational plans
single use plans standing plans budgets
cushion of extra resources in case you need to reassign people or money
slack resources
What does S.M.A.R.T stand for?
specific, measurable, attainable, realistic, timely
plans can be used repeatedly; will include policies & procedures surrounding event ex: USM's hurricane response plan
standing plans
according to the Boston Consulting Group (BCG) matrix, which of the following describes a division w/in a corporation that has a large share of a fast growing market?
star
A broad plan for an organization is called a?
strategic plan
Who developed the five industry forces theory that helps to predict the potential for a company's long term profitability?
Michael Porter
