Premium Essay

Planning - Strategic Management - Decision Making

In: Business and Management

Submitted By kaynab
Words 524
Pages 3
Explain the contingency viewpoint. Give an example from your own work experience. Then, using concepts from Chapter 8, discuss how a contingency viewpoint might impact the organization as a whole. Use supporting references.

The contingency viewpoint is a point of view where a manager, or a supervisor, has to take an approach to a situation that is contingent upon the individual or the environment (Kinicki, 2016, p. 252). When taking this approach, you as a manager must ask the question: “What method is the best to use under these circumstances?” (Kinicki, 2016, p. 252).
In my experience, work and life in general, I always use this viewpoint. I think to that my background in psychology somewhat forces me to use this viewpoint. My psychology background forces me to use this viewpoint because it has given me a deeper understanding into how different every person is. So I know that each person is going to respond to things differently, and that must be taken into consideration when managing people.
When I am faced with a situation and I have to make a decision, I almost always take into consideration the individual and the environment. A common one is with my toddler and why she might be acting a certain way when we are somewhere. Maybe we are in a new place and she is scared and starts crying, how do I handle the situation? I have to take into account the individual (my toddler) and the environment (the mall). To get handle on the circumstances, or the situation, I would talk to my toddler and reassure her that she is safe and that we are in a new place, and try to make it seem a little fun. What girl doesn’t like to spend money!
In my work experience, I think that you have to be careful when using the contingency viewpoint. Since you have to consider the individual and the environment, and your decision is contingent upon these two things, I think that you

Similar Documents

Premium Essay

Wheelen

...Strategic Management & Business Policy, 12e (Wheelen/Hunger) Chapter 1 Basic Concepts in Strategic Management 1) Strategic management is one decision that determines the short-term performance of a corporation. Answer: FALSE Diff: 1 Page Ref: 5 Topic: The Study of Strategic Management 2) In the externally oriented planning phase, plans are developed by heavily involving the input of managers from lower levels. Answer: FALSE Diff: 2 Page Ref: 5 Topic: The Study of Strategic Management 3) General Electric led the transition from strategic planning to strategic management during the 1980s. Answer: TRUE Diff: 1 Page Ref: 6 Topic: The Study of Strategic Management 4) One of the benefits of strategic management is a clearer sense of vision for the firm. Answer: TRUE Diff: 2 Page Ref: 6 Topic: The Study of Strategic Management 5) To be effective, strategic management must be a formal process. Answer: FALSE Diff: 3 Page Ref: 7 Topic: The Study of Strategic Management 6) Globalization is the internationalization of markets and corporations. Answer: TRUE Diff: 1 Page Ref: 8 Topic: Globalization and Environmental Sustainability: Challenges to Strategic Management 7) As more industries become global, strategic management is becoming less important in positioning a company for long-term competitive advantage. Answer: FALSE Diff: 2 Page Ref: 8 Topic: Globalization and Environmental Sustainability: Challenges to Strategic Management ...

Words: 5592 - Pages: 23

Premium Essay

Mother as Manager

...Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. But if we try to look from closer, Mothers are the best managers if one wants to learn from. Here I am taking example of my own mother. She is a doctor so she handles her hospital work and daily routine activities of my house. I have divided the activities performed by my mother on daily routine basis (weekdays) and tried to put them into management functionalities comprises planning, organizing, staffing, leading /directing, and controlling our organization (in this case my house). All this is done by resourcing, encompasses the deployment and manipulation of human resources, financial resources,  technological resources, and natural resources. |My Mother “The Best Manager” | |Time |Activity |Functionality |Learning | |0500-0530 Hrs |Waking up on time despite of |Planning |Time management | | |working late last night |Organising |Organisational commitment | | | |Leading |Consistency ...

Words: 991 - Pages: 4

Premium Essay

Strategic Management & Business

...Strategic Management & Business Policy, 13e (Wheelen/Hunger) Chapter 1 Basic Concepts in Strategic Management 1) Strategic management is one decision that determines the short-term performance of a corporation. Answer: FALSE Diff: 1 Page Ref: 5 Topic: The Study of Strategic Management 2) In the externally oriented planning phase, plans are developed by heavily involving the input of managers from lower levels. Answer: FALSE Diff: 2 Page Ref: 5 Topic: The Study of Strategic Management 3) General Electric led the transition from strategic planning to strategic management during the 1980s. Answer: TRUE Diff: 1 Page Ref: 6 Topic: The Study of Strategic Management 4) One of the benefits of strategic management is a clearer sense of vision for the firm. Answer: TRUE Diff: 2 Page Ref: 6 Topic: The Study of Strategic Management 5) To be effective, strategic management must be a formal process. Answer: FALSE Diff: 3 Page Ref: 7 Topic: The Study of Strategic Management 6) Globalization is the internationalization of markets and corporations. Answer: TRUE Diff: 1 Page Ref: 8 Topic: Globalization and Environmental Sustainability: Challenges to Strategic Management 7) As more industries become global, strategic management is becoming less important in positioning a company for long-term competitive advantage. Answer: FALSE Diff: 2 Page Ref: 8 Topic: Globalization and Environmental Sustainability: Challenges to Strategic Management ...

Words: 5592 - Pages: 23

Premium Essay

Strategic Management Process

...Strategic Management Process Mitchell Jaques MGT/498 August 23, 2011 Dr. Earl Levith Strategic Management Process Strategic management is an essential process for managerial decision making. This is a special process for planning and implementing actions that may determine a company’s long-term performance. This will require a business to conduct internal and external scanning and environmental analysis, strategic implementation is required, evaluation, and control. Strategic management encompasses the use of the SWOT analysis, (Strengths, Weaknesses, Opportunities, and Threats), to incorporate strategic planning and industry analysis (Wheelen & Hunger, 2010). Primary Components of Strategic Management In a normative or prescriptive approach to the strategic management model, we would generally reflect an explicit, planned, and rational approach of the process (Ginter & Duncan, 1985). According to the Ginter & Duncan (1985) website, this model was based of empirical research and creates a broader-based model. In this model there are eight stages of this process: (1) establishing the mission; (2) setting objectives; (3) environmental scanning; (4) identify internal SWOT; (5) formulating alternate strategies; (6) strategy selection; (7) strategy implementation; (8) controlling the strategy to ensure success. While the normative strategy hits all the main components of strategic management, there has been a more modern formula created for the strategic...

Words: 796 - Pages: 4

Premium Essay

Styrategic Management: Dead or in Demand as Never Before

...INTRODUCTION STYRATEGIC MANAGEMENT: DEAD OR IN DEMAND AS NEVER BEFORE A lot of companies are striving hard to get a place in business. A number of those that started die along the way due to lack of proper strategy. Yes, I do believe that organizations with proper strategy implemented and managed stand a better chance and have better competitive advantage over their counterparts. Strategic management is used by organizations to analyze and learn from their internal and external environment. It is about going forward (where to from here) It is about establishing a strategic direction. It is about establishing a strategic direction Strategic management is also about implementing strategies that would satisfy customers. The nature of strategy, which needs to be managed, is formulated around the 5 Ps (Louw and Venter 2010:15) Plan, pattern, position, perspective and ploy. As a plan, strategy has been viewed as something that an organization has, and strategy as a perspective viewed as something that people do. Strategy is influenced by extra organizational practices and inter-organizational practices. Therefore there is a reciprocal relationship between intra and extra organizational strategic activities. - Strategy as a plan: Provides overall direction and course of action. As a plan, strategy formulation is a formal process. This approach ahs been criticized for being a rational, top-down approach, hoever research shows that formal planning contributes towards...

Words: 2645 - Pages: 11

Premium Essay

Strategic Management

...Strategic Management & Business Policy, 13e (Wheelen/Hunger) Chapter 1 Basic Concepts in Strategic Management 1) Strategic management is one decision that determines the short-term performance of a corporation. Answer: FALSE Diff: 1 Page Ref: 5 Topic: The Study of Strategic Management 2) In the externally oriented planning phase, plans are developed by heavily involving the input of managers from lower levels. Answer: FALSE Diff: 2 Page Ref: 5 Topic: The Study of Strategic Management 3) General Electric led the transition from strategic planning to strategic management during the 1980s. Answer: TRUE Diff: 1 Page Ref: 6 Topic: The Study of Strategic Management 4) One of the benefits of strategic management is a clearer sense of vision for the firm. Answer: TRUE Diff: 2 Page Ref: 6 Topic: The Study of Strategic Management 5) To be effective, strategic management must be a formal process. Answer: FALSE Diff: 3 Page Ref: 7 Topic: The Study of Strategic Management 6) Globalization is the internationalization of markets and corporations. Answer: TRUE Diff: 1 Page Ref: 8 Topic: Globalization and Environmental Sustainability: Challenges to Strategic Management 7) As more industries become global, strategic management is becoming less important in positioning a company for long-term competitive advantage. Answer: FALSE Diff: 2 Page Ref: 8 Topic: Globalization and Environmental Sustainability: Challenges to Strategic Management ...

Words: 5592 - Pages: 23

Premium Essay

The Role of Ceo in the Strategic Planning System in Nigerian Banks

...THE ROLE OF CEO IN THE STRATEGIC PLANNING SYSTEM IN NIGERIAN BANKS BY DR. (MRS.) S. L. ADEYEMI DEPARTMENT OF BUSINESS ADMINISTRATION UNIVERSITY OF ILORIN ABSTRACT The purpose of this paper is to analyze the CEO’s strategic role in the strategic planning system in the Nigerian banking industry. 69 Chief bank planners were selected for the study from banks that are generally considered to be at the leading edge of bank strategic planning in Nigeria. The paper explores the key dimensions of CEO’s participation in and relationship to bank strategic planning. First the impact of the rapidly changing internal and external environment on bank planning was examined. The survey findings indicating the current involvement of banks CEOs in specific dimension of corporate strategic planning are evaluated. However, while CEOs recognise the need, strategic planning has never really caught on as a basic bank management tool. INTRODUCTION The strategic importance of the Chief executive officer (CEO) in big organization is widely recognized. Lorange, (1986). The magnitude of the CEO’s potential impact on the success of an organization highlights the need to more fully understand the ways a firm may attempt to ensure that CEO acts in a manner that maximizes firm success. As every banker in Nigeria is well aware today the changes that have occurred in commercial banking over the years, together with emerging trends in “how business is done have added a new challenging dimension...

Words: 5105 - Pages: 21

Premium Essay

Michael Hill

...Strategy and Planning What is Strategy? The term ‘strategy’ proliferates in discussions of business. The term ‘strategy’ is derived from the Greek word ‘stratēgia’, which means the “art of the troop leader”: a plan, course of action, or a set of decisions creating a pattern or a common link. All the successful business enterprises today constantly take in new information about their markets, customers, and operating environments. Then, management uses that knowledge and data to shape new strategic directions, to reorganise how they respond to marketplace demands, and to ensure that their views regarding all aspects of the business are fresh and viable. Strategy is the direction and scope of an organisation over the long-term, which achieves advantage for the organisation through its configuration of resources within a challenging environment to meet the needs of markets and to fulfil stakeholder expectations. What is the difference between Tactics and Strategy? Strategy differs from tactics. Tactics are schemes for specific manoeuvres, whereas strategy is the overall plan for deploying resources to establish a favourable position. An organisation’s strategy consists of the combination of competitive moves and business approaches that managers employ to please customers and achieve organisational objectives. Strategy is a plan or course of action denoting a pattern which evolves a direction for the organisation. It relates to pursuing those activities which move an...

Words: 3794 - Pages: 16

Premium Essay

Strategic Management

...Reflection Paper This reflection paper describes three large sections of the author trying to convey. These three parts are Strategic Management from the writer’s point of views, Strategic Management from the participants or students’ perspectives in class discussions and application Strategic Management in everyday life, especially in the military context. 1. Strategic Management from My Point of Views Before implementing a selected strategy from several alternatives, we should carefully analyze and consider the selected strategy. Strategy analysis can take a longer time before coming to the decision-making process. The intention is that an organization will be on the effective condition and position in attempting created goals and objectives in various influences from internal as well as external factors. Sometimes internal and external factors change the level of intensity and urgency in conducting certain kinds of strategic decisions completely. The orientation of such specific strategies based on various assumptions is related to the assumption which has been used by the planner, in this case, a manager or leader in an organization to produce a decisive strategy. Managers or leaders have to fully aware that all consequences from the implementation of the strategy are being measured and estimated appropriately. After an organization formulating their strategy, then the working units in the organization can set some technical ways in conducting the strategy. The next step...

Words: 3445 - Pages: 14

Premium Essay

Report on Mis Structure

...| Structure Based on Management Activity | 6 | Structure Based on Organizational Functions | 12 | Applications Based on MIS | 18 | References | 20 | Introduction Management information system broadly refers to a computer-based system that provides managers with the tools to organize, evaluate and efficiently manage departments within an organization. MIS, or Management Information Systems, are used to manage the data created within the structure of a particular business. These systems store the data and allow the business to manipulate this data. It is the study of people, technology, organizations and the relationship among them. MIS can be defined as the study of how individuals, groups and organizations evaluate, design, implement, manage and utilize systems to generate information to improve efficiency and effectiveness of decision making. The concept of MIS gives high regard to the individual and his ability to use information. While analyzing the data, it relies on many academic disciplines. These include the theories, principles and concepts from the Management Science, Psychology and Human Behavior, making the MID more effective and useful. These academic disciplines are used in designing the MIS, evolving the decision support tools for modeling and decision - making. The concept, therefore, is a blend of principle, theories and practices of the Management, Information and System giving rise to single product known as Management Information System (MIS)...

Words: 2302 - Pages: 10

Premium Essay

Forms of Strategic Decision Making

...University | Strategic Management in a Global Context | Assessment A | Module Leader: Karl Warner | Matriculation Number: 09005374 | | Abstract The purpose of this essay is to evaluate a proposition which claims that the weaknesses of formal strategic planning confirm that alternative forms of strategic decision making are more appropriate for organisations that operate in highly uncertain and dynamic environment. | Table of Contents Introduction.......................................................................................................................3 Contrast between the nature of formal planning and strategic decision making...........3 Benefits and problems of formalised strategic decision making.....................................4 Benefits and problems of emergent strategy...................................................................4 The role of uncertain and dynamic environment.............................................................5 Why Borders failed while Barnes & Noble survived?.......................................................6 Conclusion.........................................................................................................................7 References.........................................................................................................................8 Introduction Planning is the basic function of strategic management and has...

Words: 2964 - Pages: 12

Premium Essay

Business Policy

...the general management capabilities of students. It was intended to tie together and give proper focus to the first year courses by showing how the functions of business both internally and as between businesses, were closely interrelated in practice and how a chief executive had to recognize and deal with those relationships. The course, however received widespread acceptance only after the publication of two reports in 1959. The Gordon and Howell report, sponsored by the Ford Foundation predicted that a course on business policy would give students an opportunity to put together what they have learned in the separate business fields and utilize this knowledge in the analysis of complex business problems! The Pierson report, sponsored by the Carnegie Foundation also recommended the introduction of the course strongly. Following these reports the business policy course was made mandatory in all business schools in the US for the purpose of recognition. In the course of time the course gained popularity in business schools in other parts of the world as well. It is being increasingly viewed as an integrative course offered to students after completing as set of functional area courses in Finance, Marketing, and Accounting etc. Development of course contents: In the days gone by academicians viewed future as a moving target, difficult to capture analyze and interpret with a certain degree of confidence. So they pinned their hopes primarily on short term planning tools. Around...

Words: 4596 - Pages: 19

Premium Essay

Obc1

...Corporation makes decisions that assist it in formula ting and implementing plans that are designed to achieve its objecti ves, it is most likely engaging in _________. A) strategic manageme nt B) strategy utilization C) strategic processing D) strategic formali ty A) strategic management Of the following, which one is least likely to be considered a critical task associated with an organization's strategic management proce ss? A) Evaluation of the process for use in future decision making B ) Evaluation of options relative to the company's mission C) Decrea sing the levels of hierarchy present within the company's manage ment structure D) Developing a set of short-term objectives that ar e compatible with the company's grand strategies C) Decreasing the levels of hierarchy present within the company's management structur The We Have It Your Way Organization has an established "game pl an" for its business operations. This game plan reflects the compan y's awareness of how and where it should compete and against wh om the competition should take place. It can be stated this organiza tion has an established _________. A) level of strategy B) formality C) planning mode D) strategy D) strategy Of the following, which statement would most likely not be consider ed a dimension of strategic issues? A) Strategic issues require large amounts of the firm's resources. B) Strategic issues always impact the firm's long-term income. C) Strategic issues require the...

Words: 1033 - Pages: 5

Premium Essay

Business Strategy

...FIRST PAGES Part One Overview of Strategic Management The first chapter of this book introduces strategic management, the set of decisions and actions that result in the design and activation of strategies to achieve the objectives of an organization. The chapter provides an overview of the nature, benefits, and terminology of and the need for strategic management. Subsequent chapters provide greater detail. The first major section of Chapter 1, “The Nature and Value of Strategic Management,” emphasizes the practical value and benefits of strategic management for a firm. It also distinguishes between a firm’s strategic decisions and its other planning tasks. The section stresses the key point that strategic management activities are undertaken at three levels: corporate, business, and functional. The distinctive characteristics of strategic decision making at each of these levels affect the impact of activities at these levels on company operations. Other topics dealt with in this section are the value of formality in strategic management and the alignment of strategy makers in strategy formulation and implementation. The section concludes with a review of the planning research on business, which demonstrates that the use of strategic management processes yields financial and behavioral benefits that justify their costs. The second major section of Chapter 1 presents a model of the strategic management process. The model, which will serve as an outline for...

Words: 9310 - Pages: 38

Premium Essay

Ahahahah

...CHAPTER 1 The Nature of Strategic Management True/False Introduction 1. The underpinnings of strategic management hinge on managers gaining an understanding of competitors, markets, prices, suppliers, distributors, governments, creditors, shareholders and customers worldwide. Ans: T Page: 4 2. Although the Internet has increased in popularity, it has actually led to increases in company expenses. Ans: F Page 4 3. Consumer e-commerce is five times greater than business-to-business e-commerce. Ans: F Page 4 What Is Strategic Management? 4. Optimizing for tomorrow the trends of today is the purpose of strategic management. Ans: F Page: 5 5. Even though useful, strategic planning has been cast aside by corporate America since the early 1990s. Ans: F Page: 5 Resource allocation is included in strategy-formulation activities. Ans: T Page: 5 6. The terms strategic management and strategy implementation are synonymous. Ans: F Page: 5 7. A vision statement is, in essence, a company’s game plan. Ans: F Page: 5 8. Strategy implementation is often considered to be the most difficult stage in the strategic-management process because it requires personal discipline, commitment and sacrifice. Ans: T Page: 6 9. The final stage in strategic management is strategy implementation. ...

Words: 5101 - Pages: 21