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