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Key Topics
Requirement
Management-based questions answer
Solutions
1. Some business owners make a statement something to the effect, "We're too busy to bother with strategy. We have to take care of the present." What might be wrong with their reasoning?
The thing that is wrong in this statement is that there may not be the time when the ‘tomorrow’ comes due to the change in the rules and sets of law. Also, when the business is diminutive and the people are already wearing many hats so it simple to focus on the present and take care of it because that is what one has instance for. The expectations needs to be imagined otherwise, when the rules get modified, there may not have any business or due to the alteration in the market or may be increase in the struggle etc.
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2. Skill-Building Exercise: Take a goal from your Company (general or departmental) and apply the SWOT analysis in order to find strategies to achieve this goal.
The goal is ‘improvement in the bottom line’. The SWOT for this to build strategies for achievement of this goal is:
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a. The power needs to be constructed even more so an arrangement is needed to be created for this.
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b. The ways are needed to be recorded so that the weak points can be built up.
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c. The objectives that are set should be SMART and they must take care of the opportunities that are recognized.
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d. A plan needs to be developed for using the powers and reducing the threats that are recognized.
3. Internet Skill-Building Exercise: Learning about Creativity Training
There are lots of formats in which the training program for creativity comes in. It is not only the success in the effort ranging from large strategic thoughts to the problems that are troubleshooting. Instead, it is believed that creativity is natural and people become creative from the environment itself but with the help of training in creativity, everybody can sprout in the talent which is intrinsic. The procedure of creativity is such that it can be expanded as well as managed. The generation of the original ideas is the function of the brain and the function of the performances that can be set to perform by anyone. The beginning of creativity is from the foundation of the information and then learning a regulation. After that the complete brain thoughts are mastered. We study to be creative by researching, exploring, surprised suppositions, using imagination as well as creating information. The application of the Learning about Creativity Training is for:
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a. Development of the leader for creativity.
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b. For the entire brain creativity and improvement.
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c. Improvement in the teamwork and cooperation of people
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d. Formation of the values and for the significant work.
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e. For the appreciative investigation and the most important change.
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f. For hosting the planned conversations
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g. The capacity structure in the creativity and the improvement
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h. For the think tanks and the meetings
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i. The design thoughts as an innovation plan.
4. What similarities do you see between the purposes of break-even analysis and a decision tree?
The purpose of break-even analysis is to find out that how much sale is to be made so that loss is not suffered at the designated sales price and purpose of decision tree is to make decisions and determine the possible consequences of those decisions, how much cost will have to be incurred by the company and the utility of the work too. So, both of them related to the decision that helps the company to minimize losses in the future.
5. Skill-Building Exercise 6-A: Developing a PERT Network
PERT helps in exemplifying the tasks visually along with the dependencies of the big projects with the help of network diagrams. Developing a PERT Network:
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a. The plan goal description. The objective of the plan must be declared concisely. It should explain the product and the effect.
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b. The targets should be described. The goals of the plan need funding and it has to be implemented as a prototype. The plan has to be completed too. So the main deliverables are required to be determined and they must be described as targets.
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c. The assignments should be split down and for each of the target; a list has to be prepared for each task.
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d. Deciding the dependencies. For each new task it is required to be determined that what is required to be finished from the previous task so that the new one can be started.
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e. Development of deadline. There should be finish date assigned to all the tasks. When the deadlines are set, the mangers must take care that they have appropriate resources and staff to look after that.
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f. Creation of the network. After the tasks are done and the deadlines are met, then finally the network is created. The print button is pressed on the project software and then a significant trail is drawn at the beginning and finishing of the dates and the successive dates.
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Bob. (2014). Some business owners. Retrieved from https://answers.yahoo.com: https://answers.yahoo.com/question/index?qid=20140720150142AAcWrbN
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Farrell, J. M. (2009, May 12, ). What's Your Company's Risk Culture? Retrieved from http://www.businessweek.com: http://www.businessweek.com/managing/content/may2009/ca20090512_720476.htm
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How SWOT Analysis Can Help Your Business? (2015). Retrieved from http://www.outsource2india.com: http://www.outsource2india.com/kpo/articles/swot-analysis-can-help-business.asp
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Naiman, L. (2014). Arts in Business. Retrieved from https://www.creativityatwork.com: https://www.creativityatwork.com/arts-in-business-applying-the-arts-to-organisational-learning/
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Rick Leander. (2014). Steps to Building a PERT/CPM Network. Retrieved from http://www.ehow.com: http://www.ehow.com/how_12226675_steps-building-pert-cpm-network.html
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