MNGT 3100 EXAM 2 MEGAN SUMNERS QUESTIONS WITH CORRECT ANSWERS

5 Whys


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- a question-asking method used to explore the root cause underlying a
particular problem.
- The first why generally produces a superficial explanation and each
subsequent why probes deeper into the causes of the problem and
potential solutions




The Organizational Planning Process


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, 1. Develop the Plan
- Define mission, vision
- Set goals

2. Translate the Plan
- Define tactical plans and objectives
- Define strategy map
- Define contingency plans and scenarios
- Apply flexible goal setting


3. Plan Operations
- Define operational goals and plans
- Select measures and targets
- Set stretch goals
- Plan for Crisis


4. Performance Management Use:
- Management by objectives
- Performance Dashboard
- Single use plans
- Decentralized responsibility

5. Monitor and Learn
- Hold planning reviews
- Hold operational reviews




Benefits of Goals and Planning


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-Goals and plans provide a source of motivation and commitment.
-Goals and plans guide resource allocation.
- Goals and plans are guides to action
-Goals and plans set a standard of performance.

, Strategic Thinking


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means to take the long-term view and to see the big picture, including the
organization and the competitive environment, and consider how they fit
together




Contingency Plan


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define company responses to be taken in the case of emergencies, set
backs, or unexpected conditions




Decision Choice


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best solution to a problem




Satisficing


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