GROUP 3 IOM REPORTING Report Highlights Decision Making Process Plans and Goals Strategic Management & Processes Planning and Techniques DECISION MAKING Is considered by some authors as the primary function of management. Deals with both problems and opportunities. Procedural Factor - Defined as a process of identifying problems and possible solutions Definitive Factor - Finding condition terms and choosing between several opportunities. THE PROCESS Identifying a Problem Analyzing Alternatives Identifying Decision Criteria to consider Selecting an Alternative Allocating weights to the criteria Implementation Developing alternatives Assessing Decision Effectiveness HAVING TOO MUCH INFORMATION CHALLENGES MISIDENTIFYING THE PROBLEM OVERCONFIDENCE OF THE OUTCOME MANAGERS PLANNING ORGANIZING LEADING CONTROLLING PERSPECTIVES OF DECISION MAKING RATIONALITY BOUNDED RATIONALITY ROLE OF INTUITION ROLE OF EVIDENCEBASED MANAGEMENT RATIONALITY Making decisions that maximizes likelihood of succeeding in achieving a particular goal. Fully objective and Logical UNREALISTIC BOUNDED-RATIONALITY Making decisions that are limited by one's ability to process information. Influenced by culture, internal politics, power consideration, and escalation of commitment of the organization. ROLE OF INTUITION Making decisions that are based on experience, feelings, and accumulated judgement. MODERATE RISK EVENTS Using evidences systematically in order to make up a decision. STRUCTURED PROBLEMS - Easily defined and straightforward. -Not an unusual occurence PROGRAMMED DECISIONS TYPES OF DECISION-MAKING - Rules, policy, and procedure. -Routinely structured decisions. UNSTRUCTURED PROBLEMS - Arising problems that requires a more specific decision UNPROGRAMMED DECISIONS - Unique solutions that are only applied to a certain occurence. CERTAINTY DECISIONMAKING CONDITIONS RISK UNCERTAINTY LINEAR THINKING STYLE external data and facts. rational and logical thinking NONLINEAR THINKING STYLE internal sources of information. insights, feelings, hunches. DECISION MAKING STYLE OTHERS... DIRECTIVE CONCEPTUAL ANALYTIC BEHAVIORAL THE WHAT AND WHY OF PLANNING 1 2 To set a path and stick to it... To uncover both opportunities and weaknesses 3 4 To get backing and buying in from backers and financiers To make sure To focus on the right things PERFORMANCE - A continuous process of correspondence between a boss and a representative that happens consistently in lieu of the key goals of the organization. What is.... GOAL - Is a result that one is attempting to achieve. MANAGEMENT GOALS - are a system of plans a company communicates to its employees to achieve . PLANNING IS... INFORMED ANTICIPATION OF THE FUTURE. -HAIMANN Means-end Chain Effectively designed organizational goals fit into a hierarchy so that the achievement of goals at low levels permits the attainment of high level goals. Low-level goals lead to accomplishment of high-level goals Minimize uncertainties Innovation and creativity Goal focus Facilitates of control Planning Better coordination Aids to business Ensure commitment improve efficiency TACTICAL PLANS TYPES OF PLANS STRATEGIC PLANS OPERATIONAL PLANS SWOT ANALYSIS Management by objectives DISCUSSING PLANS THAT ARE BOTH AGREED UPON BY THE MANAGEMENT AND ITS EMPLOYEES Traditional Goal Setting STRATEGIC GOALS OPERATIONAL GOALS TYPES OF GOALS TACTICAL GOALS SUPERORDINATE GOALS - is the process of drafting, implementing and evaluating cross functional decisions that enable an organization to achieve long term objectives STRATEGY FORMULATI ON PROCESS Performing a situation analysis, self-evaluation, and competitor analysis. Pbjectives are set and should be parallel to a timeline; some are in the short-term and others on the long term. These objectives should suggest a strategic plan. Strategy Implementation Allocation and management of sufficient resources. Assigning responsibility of specific tasks or processes to specific individuals or groups Managing the process Establishing a chain of command.2 Acquiring the requisite resources, developing and testing, documentation, and integration with legacy process SUITABILITY Would it work? Strategy Evaluation FEASIBILITY Can it be made to work? ACCEPTABILITY Will they work? LIMITATION S OF STRATEGIC MANAGEME NT WHEN THEORIES... Undergo brief periods of popularity. Are too narrow in focus to build a strategy. Are Too general and too abstract to be applicable. PLANNING: Corporate Strategies CORPORATE -a strategy that determines what the company wants THE 3 TYPES: 1.) Growth Strategy - used when a company wants to expand the number of markets served or products offered. 2.) Stability Strategy - a move when a company continues to do what it is currently doing. 3.) Renewal Strategy - a move for change. It is designed to address declining performance. HOW DO THEY KEEP UP? BCG MATRIX -a framework created by Boston Consulting Group -strategy tool that guides resource allocation decisions to evaluate the strategic position of the business brand portfolio and its potential. PLANNING: Competitive Strategies THE STRATEGIES INVOLVED: 1.) Differentiation Strategy - offering unique products that are widely valued by customers. 2.) Cost leadership Strategy - competes on the basis of having the lowest costs. 3.) Focus Strategy - solely aim to one of company's component PLANNING: Functional Strategies It is the strategies used by an organization's various functional departments to support the competitive strategy. Strategic Leadership CORPORATE STRATEGIES The advent of one-stop shopping convenience began in 1998 when PUREGOLD opened its first branch along Shaw Blvd. in Mandaluyong City. During that time, the one-stop shopping philosophy was still a novel idea. The Plan: Puregold enters ‘sari-sari’ store space Supermarket chain operator Puregold Price Club Inc. is converting the sari-sari stores under its “Tindahan ni Aling Puring” program into mini-marts. Puregold serves Online Puregold launched an online grocery store in the country. The digital phase that we have enables people to conveniently access the online community. With this, why not grocery shopping? The Importance of Market Research •So based on the research, sari-sari store owners are usually the ones who cannot leave their houses instantly. •This is also to closely look at and study the buying scheme of the Filipinos, before fully launching it to the general public. ENGAGING POINT In order to have more sales, the company also invested on innovative projects like: Raffle promos, Games, & Partnered Sponsorship of promo products. OUR VALUES HARDWORK “ WE INSPIRE” INTEGRITY “WE UPHOLD” TEAMWORK “WE COLLABORATE” EXCELLENCE “WE STRIVE” COMMITMENT “WE CARE” PLANNING: Techniques For Assessing the Environment 1.) Environmental Scanning - the screening of large amounts of information to anticipate and interpret the changes in the environment. 2.) Forecasting - allow them to predict future events effectively and in a timely manner. *Quantitative : applies a set of mathematical rules to a series of past data to predict outcomes. *Qualitative : uses the judgement and opinions of knowledgeable individuals to predict outcomes. RESOURCE ALLOCATION PERCEIVING THE BEST ACCESSIBLE ASSETS FOR UNDERTAKING, ALLOTING THEM TO YOUR GROUP, AND CHECKING THEIR REMAINING BURDEN ALL THROUGH THE WORK, AND RE-DOLING OUT ASSETS IF NECESSARY. BENEFITS IMPROVES VISIBILITY OF ALL RESOURCES ACOID UNDER AND OVER UTILIZATION HELPS TO KEEP BOOKING MORE ACCURATE EASIER TO NEGOTIATE BOOKINGS WITH OTHER PMS TECHNIQUES FOR ALLOCATING RESOURCES KNOW THE PROJECT AND THE TEAM KEEP TRACK UNCOVER RISKS EARLY ON ANALYZE Project management - is the utilization of information, abilities, tools, and techniques to extend exercises to meet the project needs. Project Management Process INITIATING PLANNING EXECUTING MONITORING CONTROLLING PROJECT MANAGEME NT KNOWLEDGE INTEGRATION SCOPE TIME COST QUALITY PROCUREMENT HUMAN RESOURCES COMMUNICATIONS RISK MANAGEMENT STAKEHOLDER MANAGEMENT MARY DEDEL AILAH LASCANO MEMBERS MYXEN MONTES CATHERINE TOLENTINO
