UAB MG 302 Exam 2 Latest Questions With Passed Solutions!!

List the steps in the organizational planning process. - 1. Develop the Plan 2. Translate the Plan 3. Plan operations 4. Execute the Plan 5. Monitor and Learn develop the plan - define mission, vision, set goals Translate the Plan - Define tactical plans and objectives, develop strategy map, define contingency plans and scenarios, identify intelligence teams Plan operations - define operational goals and plans, select measures and targets, set stretch goals, crisis planning execute the plan - Use: management by objectives, performance dashboards, single use plans, decentralized responsibility monitor and learn - hold planning reviews, hold operational reviews. Define and explain crisis management. - Crisis management is the process by which an organization deals with a disruptive and unexpected event that threatens to harm the organization or its stakeholders. Crisis Planning is also used to cope with unexpected events that are sudden and devastating. The types of crises may vary, though a carefully thought-out and coordinated plan can be used to respond to any disaster. Additionally, crisis planning reduces the incidence of trouble. Explain GroupThink and how it can affect business. - Groupthink refers to the tendency of people in groups to suppress contrary opinions. (Desire for harmony > decision quality).Groupthink can negatively affect business success due to the lack of conflict, constructive criticism, and open opinions.When all members of the group conform to the same ideas and mindset, the group loses amounts of innovation and creativity that could have been implemented into their work. Explain the classical model of decision making. - The classical model of decision making prescribes the best way to make decisions. There are 4 assumptions behind the classical model: (1) Clearly Defined Problem: The model assumes that the decision-maker has clearly set goals and knows what is expected from him. (2) Certain Environment: The model further suggests that it is in the power of the decision-maker to eliminate any uncertainty that might impact the decision. As a result, there are no risks to account for. (3) Full Information: The decision-maker is able to identify all alternatives available to him and to evaluate and rank them objectively. (4)Rational Decisions: The decision-maker is believed to always be acting in the best interests of the organization. Explain the difference in responsibility and accountability. - Responsibility can be shared while accountability cannot be shared. Responsibility means an obligation to do anything. Being accountable means being responsible for something, while also ultimately being answerable for your actions. Explain matrix management. - Matrix management is an organizational structure in which some individuals report to more than one supervisor or leader. In a matrix management system, an individual has a primary report-to boss while also working for one or more managers, typically on projects.