Which of the following is NOT one of the 10 strategic operations management decisions? pricing. Which of the following is one of the 10 strategic operations management decisions? A) inventory requirements B) capacity needs C) personnel levels D) technology E) All of the above influence layout decisions According to JOHNSON and SCHOLES strategic decisions name four key characteristics. Those decisions are likely to be linked with or influence the long term direction of an organization. Strategic decisions are normally concerned with attempting to achieve some advantage for the organization, e.g. over the competition 93. Strategic decisions ostensibly commit the firm for . a. 1 -2 years . b. The short term . c. one years . d. A long time, typically five years . Ans. d. 94. Social responsibility is a critical consideration for a company's strategic decision makers since . a. Stockholders demand it . b Multiple Choice Quiz. A firm that considers the potential reactions of its competitors when it makes a decision. a. is referred to as a price leader. b. is engaged in strategic behavior. c. is engaged in collusion. d. is referred to as a barometric firm. Which of the following is an example of strategic behavior There are three types of strategic planning that are essential to every firm: corporate, business and functional. Corporate strategy deals with the overall firm. These strategic decisions cannot be made at a lower level without risking sub-optimization of resources
Strategic decision making is a critical skill for effective leadership. The outcome of a leader's choices significantly impacts employees, customers, the market, and ultimately the success of the company. Developing such a skill requires a combination of knowledge, experience and intuition. It also requires a process to help define the. Which of the following statements about delegation is true? A) Delegation is synonymous with participation. B) The group shares decision-making authority with management. C) When a manager delegates decision-making authority, the subordinate makes a recommendation and then the manager makes the final decision A process that links the business strategy to resource level objectives. The use of competitive factors (e.g. order winners) as the translation device between business strategy and operations strategy. Assessing current achieved performance (usually against competitor performance levels). A 'gap-based' approach, comparing what is required of. Strategic decisions take care of the long-run future of the entire organization. Strategic decision making is the central function of a top-level executive. Implementation of strategy involves a number of interrelated decisions, choices, and a broad range of activities. It requires the commitment and co-operation of all units, levels and members Strategic decisions are decisions about an organization's strategy. There is no doubt that strategic decisions have a major impact on any organization. However, when it comes to really strategic decision making, things tend to get a bit blurry. Not all future-oriented decisions are strategic ones
Generally, strategic decision is unstructured and thus, a manager has to apply his business judgement, evaluation and intuition into the definition of the problem. These decisions are based on partial knowledge of the environmental factors which are uncertain and dynamic 64) Which of the following is not a benefit of using models in decision making? A) They provide a standardized format for analyzing a problem. B) They serve as a consistent tool for evaluation. C) They are easy to use and less expensive than dealing with the actual situation. D) They force the decision maker to take into account qualitative issues such as E) They offer insights into. Submitted by IncludeHelp, on March 19, 2021. 1. A key role of Management Information Systems is, To develop and share documents that support day-today organizational activities. To process business information. To materialize the business transaction data and produce insightful information which assists managers in decision making
Topic: Decision Making When Rivals Make Simultaneous Decisions AACSB: Reflective Thinking Blooms: Understand Learning Objective: 13-01 13-9 Which of the following is an example of strategic entry deterrence? a. price reductions b. building excess capacity c. economies of scale d. both b and c e. both a and b Answer: b Difficulty: 02 Mediu A) Directional (is forward-looking, describes the strategic course that management has charted that will help the company prepare for the future) B) Easy to communicate (is explainable in 5-10 minutes, and can be reduced to a memorable slogan) C) Graphic (paints a picture of the kind of company management is trying to create and the market position(s) the company is striving to stake out) D. a strategic decision. a tactical decision. an operational decision. both a strategic and an operational decision: Which of the following arrangements would be chosen if the facilities need to have lower fixed costs? Building some excess capacity in a supply chain network allows a firm within the supply chain to:. 1.14 In motor car manufacturing the following type of information is statutory (a) Decision on introducing a new model (b) Scheduling production (c) Assessing competitor car (d) Computing sales tax collected 1.15 In a hospital information system the following type of information is strategic (a) Opening a new children's war 9. Different levels of strategic decision making and strategy formulation in any organization include a. Corporate Level and Business Level b. Corporate Level and Functional Level c. Business Level and Functional Level d. Corporate, Business and Functional Leve
3. Which of the following denotes the characteristics of Strategic Management? a) Decentralization. b) Wide span of management. c) Searching for new sources of advantage. d) Multi operational. Ans: c. 4. Role of stake holders include. a) Direct Management. b) Decision Making. c Investment Business Information Systems MCQ Questions and Answers Part - 1 Business Information Systems MCQ Questions and Answers Part - 2 Business Information Systems MCQ Questions and Answers Part - 3 1. Processed data is called A. Field B. Information C. Record D. File ANSWER: B 2. ______ is the most basic element of data A. [
Hence such decisions require analysis and careful study. Because strategic decisions taken at this level will affect the routine decisions taken daily. Programmed Decisions and Non-Programmed Decisions. Programmed decisions relate to those functions that are repetitive in nature. These decisions are dealt with by following a specific standard. 1. Strategic decisions are likely to affect the long-term direction of an organisation. 2. Strategic decisions are normally about trying to achieve some advantage for the organisation. 3. Strategic decisions are likely to be concerned with the scope of an organisation's activities: Does (and should) the organisation concentrate on one area of activity, or does it have many The major dimensions of strategic decisions are as follows: 1. Strategic issues require top-management decisions: Strategic issues involve thinking in totality of the organization's objectives in which a considerable amount of risk is involved. Hence, problems calling for strategic decisions require to be considered by the top management. 2 Which of the following are Strategic Communications? Communications between on-scene command and tactical personnel and cooperating agencies and organizations. High-level directions, resource priority decisions, roles and responsibilities determinations, and incident management courses of action. Coordination of support of strategic and tactical communications
Which of the following are typically seen as being associated with strategic decisions? A. The organisation's long-term direction B. The detailed planning of a department's work over the next month C. The values and expectations of powerful actors in the organisation D. The scope of the organisation's activitie Following these strategic planning and decision-making steps keeps your agency or business from straying from its vision or strategic goals. And with the right focus on your goals, there's no limit to what your organization is able to achieve A strategic imperative is a business goal, objective or target that has the highest priority. Businesses often engage in strategic planning that evaluates the entire business and sets out a plan of action. This type of planning helps businesses better manage current and future operations. Part of this process is identifying goals, objectives. HRIS systems help organizations in decision making and HR planning in following ways: Availability of Information on wide range of data: Today companies have started integrating HRIS system to other HR systems, such as payroll, leave, travel and expense, time and attendance, career planning, and skills inventory to store, retrieve, update.
the ways strategic decision-makers process information and how bounded rationality affects decision outcomes at each stage of the strategic decision-making process. Characteristics of strategic decision-making One of the central features of strategic decisions is their lack of structure (Mintzberg, Raisinghani and Theoret, 1976) Which of the following is a function of an AIS? a. reducing the need to identify a strategy and strategic position b. transforming data into useful informatio Strategic decisions. types of decisions that deal with a large range of corporate activities; top-level, risky, and complex. Product development. the decisions regarding the creation of new or. Decision pertaining to purchase of new factory premises is a major decision. Major decisions are taken by top management. Purchase of office stationery is a minor decision which can be taken by office superintendent. 6. Individual and group decisions: When the decision is taken by a single individual, it is known as individual decision Strategic dashboards are commonly used in a wide range of business types while aligning a company's strategic goals. They track performance metrics against enterprise-wide strategic goals. As a result, these dashboards tend to summarize performance over set time frames: past month, quarter, or year
The following points show the non-financial benefits of strategic management. The productivity of the employee is enhanced. The understanding of the competitor's strategies is enhanced. Awareness about the external threats is enhanced. The relationship between performance and reward is better understood Which one of the following says that a decision in one corner of business affects directly or indirectly other corners of business because everything is interrelated? a. managment by inclusion b. Ethical CSR. c. Strategic CSR. d. instrumental approach 2 ADVERTISEMENTS: The management decisions are classified into three levels or categories: 1. Strategic Production Planning: Strategic planning involves deciding and developing strategic plans to achieve strategic objectives (or goals). Top management typically develops the strategic plans. These decisions or plans are normally long term decisions, which are having implications for the next five.
There are a number of factors affecting the pricing decisions and price is not determined simply. Moreover, there are many factors affecting pricing decisions. The reason is that the price is a very sensitive issue for the customers in their purchasing behavior. Following are the two main factors affecting pricing decisions: 1 - Internal Factor It has been described as the most promising model for supply chain strategic decision making (2). The model integrates business concepts of process re-engineering, benchmarking, and measurement into its framework (2). This framework focuses on five areas of the supply chain: plan, source, make, deliver, and return An adaptive strategic leader has learned to apply all six at once. Divide big decisions into pieces to understand component parts and better see unintended consequences. The following test. Apart from the above, following factors are also taken into account while making financial strategic decisions: (i) Policy of the organisation regarding centralisation or decentralisation of ownership. If the organisation's policy is to decentralise ownership, it may rely more on equity and less on borrowings BCIS 3610 EXAM 1 1) Collaboration occurs when a number of people . A) come together to perform tasks that are different B) work together to achieve a common goal C) perform independent tasks that are important D) work without having to critically analyze each other's work Page Ref: 33 AACSB: Use of Information Technology; Communication Abilities Difficulty: Easy Course LO: Explain how IS can.
Outsourcing Decision Matrix: four quadrants By using an outsourcing decision matrix, an organisation can determine at a glance whether to keep certain processes in-house, or to outsource them. The model addresses two main factors that organisations should consider whenever they want to outsource tasks: 1. Strategic Impac 51. The strategic management process is. a. a set of activities that will assure a temporary advantage and average returns for the firm. b. a decision-making activity concerned with a firm's internal resources, capabilities, and competencies, independent of the conditions in its external environment The purpose of a strategic analysis is to analyze an organization's external and internal environment, assess current strategies, and generate and evaluate the most successful strategic alternatives. Strategic Analysis Process. The following infographic demonstrates the strategic analysis process: 1 57. Decision support system involves all of the following types of analytical modelling activities except? a. what-if analysis b. Sensitivity analysis c. Goal-seeking analysis d. Heuristics 58. In which of the following types of analysis, the value of only one variable is changed repeatedly
Strategic Management: Meaning, Features, Components, Process, Development and Advantages Strategic Management - Meaning and Concept . Whatever may be done by management nothing affects the success or failure of a business enterprise more than how well the long term direction of the business is set Strategic human resource management (SHRM) is concerned with the relationship between HRM and strategic management in an organization. Strategic human resource management is an approach that relates to decisions about the nature of employment relationships, recruitment, training, development, performance management, reward, and employee relations
Time Constraints. Managers often face time constraints that can make effective decision-making a challenge. When there is little time available to collect information and to rationally process it, we are much less likely to make a good nonprogrammed decision. Time pressures can cause us to rely on heuristics rather than engage in deep processing Since strategic plans are the primary documents of an organization all managerial decisions are required to be consistent with its goals. Strategic plans, thus, set forth the long-term objectives, intermediate objectives and main purpose or the basic role of an organization. 4 Levels of Strategy-Making / 4 Types of Strategic Alternative
The different roles of strategic management can be studied under the following heads:-A: The general roles of strategic management are:- 1. Strategic Visionary 2. Strategic Leader and Decision Maker 3. Creating Superior Performance and Competitive Advantage 4. Integrative Role 5. Adapting to Change 6. Thinking through the Overall Mission 7 Strategic leadership refers to a manager's potential to express a strategic vision for the organization, or a part of the organization, and to motivate and persuade others to acquire that vision. Strategic leadership can also be defined as utilizing strategy in the management of employees. It is the potential to influence organizational. Strategic Analysis Tools Topic Gateway Series 4 Context In the current CIMA syllabus, students will study and may be examined on strategic analysis tools as part of the Management Level Paper 5, Integrated Management. In addition, the tools are commonly used in many organisations for strategic decision making
Strategic Themes Strategic Themes are differentiating business objectives that connect a portfolio to the strategy of the Enterprise. They influence portfolio strategy and provide business context for portfolio decision-making. Details. Strategic themes offer a way to align the business strategy of an Enterprise or Government agency with a SAFe. The following list of questions can be a guide for deciding on the most beneficial strategies for your group: sexual decision-making skills, and family planning / contraception at age-appropriate times; Incorporate options for teacher-led and peer support programs in the schools; Strategic execution plan. Decision-making in government is a process in which evidence, both from systematic research and practical experience, mixes with a complex interaction of ideas, interests, ideologies, institutions and individuals. These several factors are the determinants of decisions at the political and administrative levels
Strategic decisions cover the what and why of a business. Without strategic decision-making, all operational decisions become a mass of procedures and projects without anything to tie them into a cohesive whole. Ideally, strategic decisions are the first to be made in any new business Strategic planning is the process of defining strategy and then cascading it down through the organization and turning it into a tactical plan. Strategic planning happens at all levels in the organization. Done well, strategic planning builds strategic alignment into everything you do
decisions, and then executing funding plans, operations, and measuring effectiveness as is the ultimate decision authority on the DHS Strategic Plan, Strategic Planning priorities, internal resource allocation deliberation, Resource February of any year following the year in which the term of the President commences unplanned problems, features of strategic management. Making a decision implies the following of a set of principles which support the idea of adopting a philosophy in management (Petrescu, I., 2012) and the appropriate behavior at the workplace, called ethical decision, which The decision maker needs help in this situation, and this, as well as assistance in choosing the best alternative, may be found in the concept, of the strategic factor. A limiting factor is one which stands in the way of accomplishing a desired factor Some well-established financial metrics, including margins, EBITDA, and share price, are ill suited for strategic decision making. They are too internally focused, or they are lagging indicators.
The strategic planning process is a comprehensive framework that guides the decisions that determine the nature and direction of organizational activities and undertakings. For a broader and better understanding of strategic planning, the following three concepts need to be appreciated Understand each of the criteria in the decision-making diagram better: Gravity: For this concept, it is necessary to define how much the consequences of the problem will affect the achievement of the strategic objectives of the company, the security of the people and the community. Urgency: What will happen if the problem is not resolved immediately? Is it possible to wait, or will operations. Game theory is the study of mathematical models of strategic interaction among rational decision-makers. It has applications in all fields of social science, as well as in logic, systems science and computer science.Originally, it addressed zero-sum games, in which each participant's gains or losses are exactly balanced by those of the other participants Data-driven decision making (or DDDM) is the process of making organizational decisions based on actual data rather than intuition or observation alone. Every industry today aims to be data-driven. No company, group, or organization says, Let's not use the data; our intuition alone will lead to solid decisions.
You can practice these six habits of true strategic thinkers as well as demonstrate the following three unmistakable signs of strategic thinking. 1. Strategic Thinkers Make Better Decisions By. To make that strategic decision, the airline's executives need market research on the size of different customer segments and the likely response of each segment to different combinations of. The following is a brief introduction to these decision-making models: Bowen's Model for Strategic Decision Making: This model for ethical decision-making is specifically designed to help with issues management. In other words, it helps professionals make correct decisions in a management process in order to avoid ethical problems and crises
In addition to providing automation, ERP system feature of providing accurate and timely information enables to improve decision-making processes of the managers and employees (Hitt, Wu and Zhou, 2002) The following table includes evaluation of the opinions on the strategic advantages obtained with the use of ERP systems A decision-conduct survey is taken to discover how decisions have been made: concerned individuals are interviewed by experts in behavioral science, who match the evidence with markers of specific biases. Design. In the design phase, the key biases are matched with the best debiasing strategies in light of the organizational and process context The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America.It consists of 50 states, a federal district, five major unincorporated territories, 326 Indian reservations, and some minor possessions. At 3.8 million square miles (9.8 million square kilometers), it is the world's third- or fourth-largest.
