...MARKETING DECISION support system Marketing decision support system (MDSS) A system used to manipulate a collection of data to interpret and explore potential business scenarios in order to make management decisions. Marketing decision support systems (MDSS) are considered by some businesses a key tool in gaining the edge over competitors. MDSS can be used to assist, rather than supersede, employee decision makers in the complicated scenarios which are common in marketing. Also MDSS can be defined as A coordinated collection of data, systems, and techniques with supporting software and hardware by which an organization gathers and interprets relevant information from business and the environment and turns it into a basis for marketing action An emerging trend in the realm of marketing has been the increased application of marketing decision support system (MDSS) technology to aid with decision-making (DM). Developing a sound and robust marketing strategy has never been an easy task. The success or failure of a company’s marketing effort depends on the interaction of numerous internal and external factors, combined with the knowledge and intuition of the decision-makers themselves. Marketing DM requires a comprehensive analysis of environments both inside and outside the firm. It requires a wide range of strategic information, including hard and soft information, and it requires managers to deal with issues that involve a high degree of uncertainty, subjectivity and ambiguity...
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...Information Technology Investment Decision-Making Learning Objectives After completing this chapter, you should be able to: • • • • • Describe different types of IT investment decisions manager face. Briefly describe some of the methodologies that are used in IT investment decision-making. Explain why IT investment decision-making is important as a subject to study. Explain some of the limitations that should be considered when using IT investment methodologies. Explain the role of IT investment decision-making within organizational planning. Prologue Information technology (IT) investment decision-making impacts all industries but sometimes in different ways. For example, Karadag et al. (2009) explored the importance of IT investment decision-making methodology in lodging industry. The research found that evaluation activities for hotel IT investments have not been performed widely and consistently and that some types of hotels tend to use more financial and non-financial IT evaluation methods, since all investments are expected to show a positive return on investment. The research findings highlight the importance of the use of IT investment evaluation techniques and the 3 4 Information Technology Investment: Decision-Making Methodology major differences in their use require a substantial need for understanding a wide variety of IT investment methodologies to satisfy decision-making needs. To provide useful decision-making in IT investments today requires a...
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...TermPaperWarehouse.com - Free Term Papers, Essays and Research Documents The Research Paper Factory JoinSearchBrowseSaved Papers Home Page » Business and Management Research on Success and Management of ‘Jollibee Foods Corporation’ and Its Subsidaries In: Business and Management Research on Success and Management of ‘Jollibee Foods Corporation’ and Its Subsidaries RESEARCH on SUCCESS and MANAGEMENT of ‘JOLLIBEE FOODS CORPORATION’ and its SUBSIDARIES Prepared By: Date: May 3, 2012 Table of Contents 1. INTRODUCTION 3 2. ANALYSIS OF THE COMPANY’S STRATEGIES and MANAGEMENT 4 a. The Financial Statistics 4 b. The Problems and Challenges 5 3. EVALUATION & CONCLUSION 8 WORKS CITED 10 1. INTRODUCTION Jollibee Food Company was established after the oil crisis hit the ice-cream prices since the family company was mainly based on ice-cream production and sales. After Jollibee, one member of the family, decided to diversify into sandwiches; the product started to gain popularity. “The Tans’ hamburger, made to a home-style Philippine recipe developed by Tony’s chef father, quickly became a customer favorite. A year later, with five stores in metropolitan Manila, the family incorporated as Jollibee Foods Corporation.” (Bartlett, 2001) The rapid increase in the number of stores after such a short period indicated how successful Jollibee’s decision has been. In three years, the number stores were doubled and Jollibee had 11 stores. However, together...
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...management and reporting practices, these facilities carry the high expectations to upholding ethical standards and behavior. The financial data helps to aid in the assessment of the timing, amounts, and uncertainties of flows of cash, and as well as furnishing data about the facilities economic resources, claims towards the resources, equity, and changes within the claims and resources. The manager’s most important challenge is to solving problems strategically. As to the development of a variety of academic disciplines, and to aid managers to responding to the challenge of developed problem solving, principles of management are categorized into a system of functions that are summarized as planning, organizing, leading, and controlling. * Planning is the function of which the management that includes setting goals and determines the course of action to achieving these goals. Planning requires that managers be good decision makers and it requires them to be aware of environmental conditions that the organization is facing as well as forecast future conditions. Strategic planning includes competitive threats and opportunities, along with the weaknesses and strengths within the facility. Tactical planning is the intermediate planning that is developed to design relatively specific and concrete ways to implementing the strategic plan. Operational planning usually thinks of the existence of organizations subunit or wide objectives and goals as well as the certain ways to achieving...
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...Analysis and Synthesis of Prior Research Analysis and Synthesis of Prior Research The companies that efficiently solve their projects issues and portfolio concerns will differentiate themselves from their competition. The projects that companies work to complete with the many different project methodologies demonstrate where the business is now, and the portfolio of projects of the organization demonstrate where the organization is headed. To effectively manage the tremendous number of projects that leaders face today in their organizations, they look to methods and processes that aid them in effectively managing a group of projects. The method used to help in this endeavor is Portfolio Project Management (PPM). Portfolio Management Methodologies According to Project Management Institute’s 2012 Pulse of the Profession In-Depth Report there is a clear trend based on their annual global study of more than 1000 project, program and portfolio managers. Over half of the companies reported an increase in their use of portfolio management as a means of effectively dealing with organizational strategy based on portfolio management (PMI, 2012). Moreover, the results of the study determined that 62% of projects that were concluded based on the effective use of portfolio management methodologies met or exceeded their expected return on investment (PMI, 2012). Notwithstanding the quantifiable benefits of portfolio management, the study uncovered that relatively few businesses created...
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...TOPic: DECISION SUPPORT SYSTEMS: AN OVERVIEW AND ITS ROLE IN BUSINESS Introduction A decision support system (DSS) is a computer-based information system that supports business or organizational decision-making activities. DSSs serve the management, operations, and planning levels of an organization and help to make decisions, which may be rapidly changing and not easily specified in advance. Typical information that a decision support application might gather and present are: * Inventories of information assets (including legacy and relational data sources, cubes, data warehouses, and data marts), * Comparative sales figures between one period and the next, * Projected revenue figures based on product sales assumptions. Making decisions concerning complex systems (e.g., the management of organizational operations, industrial processes, or investment portfolios; the command and control of military units; or the control of nuclear power plants) often strains our cognitive capabilities. Even though individual interactions among a system's variables may be well understood, predicting how the system will react to an external manipulation such as a policy decision is often difficult. What will be, for example, the effect of introducing the third shift on a factory floor? One might expect that this will increase the plant's output by roughly 50 percent. Factors such as additional wages, machine weardown, maintenance breaks, raw material usage, supply logistics, and...
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...EBMA Level 8 Diploma in strategic Business Research and Leadership Direction Unit Title: Strategic Financial Analysis and Planning Table of Contents Executive Summary 3 1.Critique and evaluate research ....... 4 2.Critically apply modern financial tools 6 3.Use main types of investment appraisal tools 8 4.Critically evaluate the importance of research 10 References 11 Executive Summary The decision making of management is very crucial and involves various analysis to be performed. There are various ratios and methods that can be useful for mitigating the risks and increasing the expected returns with investments. The financial forecast is a mix of the behaviour, perception of management alongwith various techniques used for analysis of the different options available. Critique and evaluate research in financial theory and apply that research for decision making process 1.1 Describe the economic theory of choice as an illustration under certainty. The rational behind the economic theory of choice is to choose out of certain economic outcomes and representing the preferences through maximisation of the utility function of the outcomes. As per the von Neumann-Morgenstern expected utility model (1953), which is the workhorse of recent economics, the choices are made by people, so as to get the maximum utility. These preferences are based on intuition, self interest, past experiences etc...
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...principles and tools in an organizational setting. The BSB foundation is designed to bridge the gap between theory and practical application, while examining the areas of accounting, critical thinking and decision-making, finance, business law, management, marketing, organizational behavior, research and evaluation, and technology. Students are required to demonstrate a comprehensive understanding of the undergraduate business curricula through an integrated topics course. The Human Resource Management Concentration helps students develop an understanding of the fundamentals of human resource management and its strategic relevance in business. The concentration addresses the legal and ethical components of the decision making process involved in the human resources environment. The Human Resource Management Concentration introduces students to the basic concepts of human resource management, and allows further study in the areas of employment law, risk management, recruitment and selection of employees, international HR, change management, compensation and benefits, employee development, and performance management. Students will also develop an understanding of the critical business implications for human resource professionals today and in the future. HR practitioners and managers must be equipped with a solid understanding of the fundamentals of human resource management, along with strong skills in the areas of systems thinking, problem solving, influencing, negotiating, communications...
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...For this assignment I’ll be describe how two business of my choice (transport for London (TFL) an organisation in the transport industry, and One touch Leisure centre) organise themselves in-order to achieve the businesses’ purpose – the business’ reason for existence. In-order for any to achieve its purpose or to make progress, planning is essential to ensure success, strategic planning is planning that is generalised to the whole organisation, it is therefore central to the organisation as it provides direction, by the setting out of the business’ aims and the methods as well as resources that will be used to achieve it. As transport for London (TFL) hopes to provide the best service possible to its customers, and One touch Leisure centre – making profits and leading the market, they both have aims and objectives as a result of strategic planning to ensure success. Transport for London (TFL) One touch Leisure centre Aims: To employ a more diverse workforce as London is one of the most diverse cities in the world. Develop high frequency services to all customers (Londoners). Provide a higher quality of customer services. Substantially reduce crime rate (damage to TFL property and assault to customers). Ensuring that all customers can easily get around London. To increase profit and use of one touch in community Promote one touch leisure centre within the community To get more people more active, more often. Objectives: Provide a greater human presence...
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...Strategy implementation is an iterative process of implementing strategies, policies, programs and action plans that allows a firm to utilize its resources to take advantage of opportunities in the competitive environment (Harrington, 2006). Under the behaviour perspective, implementation is the actions initiated within the organization and its relationships with external constituencies to realize the strategy (Varadarajan, 1999). Implementation is operationally defined as those senior-level leadership behaviors and activities that will transform a working plan into a concrete reality (Schaap, 2006). In the hybrid perspective, implementation is defined as ‘the sum total of the activities and choices required for the execution of a strategic plan…the process by which strategies and policies are put into action’ (Wheelen & Hunger 1992). Strategy execution is defined as the step-by-step implementation of the various...
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...DECISION SUPPORT SYSTEM AIMS TO SUPPORT BETTER BUSINESS DECISION-MAKING IN TELECOM SECTOR OF PAKISTAN Thesis Presented to the Faculty of INSTITUTE OF BUSINESS AND INFORMATION TECHNOLOGY In Fulfillment of the Requirements for the Degree of Master of Business and information technology By Muhammad Taimoor Khalid F09MB023 Contents DECLARATION 6 ACKNOWLEDGEMENTS 7 Executive Summary 8 INTRODUCTION 9 Decision Support System 10 Telecommunication Sector in Pakistan 13 PROBLEM DEVELOPMENT 14 Significance of the study 15 Study Objectives 15 Research Research Query#s 15 Relevant Variables 16 Dependent variables: 16 Independent variables: 16 Research Hypothesis 16 Hypothesis # 1 16 Hypothesis # 2 16 Hypothesis # 3 17 Hypothesis # 4 17 LITERATURE REVIEW 18 “ 21 “ 21 (Business psychology and organisational behaviour 21 “ 22 “ 22 RESEARCH METHODOLOGY 23 Introduction to chapter 24 Research Design: 24 Purpose of research 25 Data Processing and Analysis 25 Primary and Secondary data 25 Regression Equation 26 Comparative Analysis 28 Dss and Comapny 28 Respondent age 28 Respondent sex 29 Respondent Work Experience 29 Respondent Qualification 30 Research Query’s Analysis 31 Research Query# 1 31 Research Query# 2 31 Research Query# 3 31 Research Query# 4 32 Research...
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...the links between corporate strategy, HR policy and management practices at the workplace level; (What are those things they do on a daily basis) * The underlying theories informing EIP (employee influence and participation); * The utility of Management goals, capabilities and development processes. Background: ??? Terminology Before we begin the essay, there are some terms which will be clarified to aid in understanding. Management Goals are one of many objectives set by RestaurantCo in order to achieve a smooth running business. Corporate strategy is the "setting of a company’s long-term goals, the major policies and plans, and the adoption of courses of action for achieving these goals." (Staehle, 1990, p.34)Human Resource Policy are the ground rules that RestaurantCo establishes to "hire, train, assess, and reward the members of their workforce". Management Practices are action plans to acquire the Management Goals. "During the development stage, the policies have to be properly communicated to those that need to know. For example line managers who are responsible for recruitment, retaining & promotion." (Melander, 1989, p.38) Capabilities and Development Process is a plan to groom the employees of RestaurantCo to assist in their own personal and organizational goals. In the paragraphs that follow, the linkage will be shown in the same order of the definitions. Building Company Value One of RestaurantCo's management goal is to "aim at building...
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...firm belief in "one best way" (Samson & Daft, 2003), of doing something. In the year 1899, Taylor held an experiment that involved German and Hungarian men, whose job involved some very heavy-duty work (Gabor, 2000). To his disappointment, men either refused to work, or wouldn't work to his expectations. The men hated him utterly; to the extent he required security when going home (Gabor, 2000). In his entire dilemma with his employers, in stepped Schmidt, a man not of intelligence but had the strength of a bull and an ox-like mentally required to reach the standards of Fredrick Taylor.... [tags: Taylorism Business Management Essays] :: 3 Works Cited :: 6 Sources Cited 1822 words (5.2 pages) $29.95 [preview] Scientific Method - Scientific method what comes to mind. Do we start thinking of some type of formal process that will answer all our scientific questions or problems. When I was in school many years ago, we were taught that scientists go through a series of steps to find a solution to a problem or find evidence...
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...INTRODUCTION Management information systems encompass a broad and complex topic. To make this topic more manageable, boundaries will be defined. First, because of the vast number of activities relating to management information systems, a total review is not possible. Those discussed here is only a partial sampling of activities, reflecting the author's viewpoint of the more common and interesting developments. Likewise where there were multiple effects in a similar area of development, only selected ones will be used to illustrate concepts. This is not to imply one effort is more important than another. Also, the main focus of this paper will be on information systems for use at the farm level and to some lesser extent systems used to support researchers addressing farm level problems (e.g., simulation or optimization models, geographic information systems, etc.) and those used to support agribusiness firms that supply goods and services to agricultural producers and the supply chain beyond the production phase. Secondly, there are several frameworks that can be used to define and describe management information systems. More than one will be used to discuss important concepts. Because more than one is used, it indicates the difficult of capturing the key concepts of what is a management information system. Indeed, what is viewed as an effective and useful management information system is one environment may not be of use or value in another. Lastly, the historical perspective...
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...Man 4633 ASSIGNMENT 3 1.Define arbitrage factor costs Arbitrage factor costs are costs that an MNE incurs when there is the inability for a firm to encourage for issues to be resolved without the need of arbitration. When arbitration is needed, a firm loses precious time and possibly funds to be able to settle a dispute among the different business units with a conflict. This may result in the loss of competitive advantage and/or the loss of actual funds. 2. “Today’s challenge is to build transnational organizations that can sense an emerging consumer trend in one country, link it to a new technology or capability it has in another, develop a creative new product or service in a third, then diffuse that innovation rapidly around the world”. With this in mind, identify a company who has demonstrated this ability including a brief description of each step they took. Boeing is a perfect example of a company that was able to link technology and capabilities from national suppliers which they call “partners”, and to decentralize their manufacturing functionality to develop the new 747 dreamliner. Boeing first began by identifying key geographical “partners” that had the resources and functional capability to manufacture specific sections of the airplane. After doing so, they decentralized their manufacturing capability and handed the responsibility to these “partners”. Finally, what Boeing was left with was a strategically dispersed manufacturing plant across the globe...
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