...Research Methods for Strategic Managers to Aid in Decision Making Abstract [P1] Managers can be trained to make better decisions. They also need a supportive environment where they won’t be unfairly criticised for making wrong decisions and will receive proper support from their colleague and superiors. A climate of criticism and fear stifles risk-taking and creativity; managers will respond by ‘playing it safe’ to minimise the risk of criticism which diminishes the business’ effectiveness in responding to market changes. It may also mean managers spend too much time trying to pass the blame around rather than getting on with running the business. The study is based on all-embracing research to assemble information from a variety of sources such as internet, interview and books. The research was conducting on the decision making in the different economic scenario data was collected and results were evaluated. Introduction [P1] [1.1] Some decisions are difficult because of the need to take into account how other people in the situation will respond to the decision that is taken. The analysis of such social decisions is more often treated under the label of game theory, rather than decision theory, though it involves the same mathematical methods. From the standpoint of game theory most of the problems treated in decision theory are one-player games (or the one player is viewed as playing against an impersonal background situation). In the emerging socio-cognitive engineering...
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...Running head: STRATEGIC MANAGEMENT ANALYSIS TOOLS Strategic Management Analysis Tools XXXXXXXXX XXXXXXX xxxxxxxx Abstract The number of strategic management analysis tools have increased dramatically in the last twenty years. This increase could be a result of a growing demand to meet the new demands this new global market. This literature review aims to outline these articles and findings by concentrating on the strategic management research tools and describing the tools that are the most useful for managers to use. Keywords: tools, strategic analysis, strategic management, strategic planning. Strategic Management Analysis Tools Brief History In recent decades, strategic management research has become so complex and expensive that managers have found it difficult to utilize it effectively. Increasing competition across all industries combined with the ever changing variables such as the economic realities of an expanding global community, have created this market for strategic market analysis tools. Hence, as a method to support managers needs to meet stockholders expectations, a number of tools and methods have been created. Essentially, the problem is there are so many strategic management analysis tools choosing the right one is challenging. Research on strategic analysis is not abundant, despite the numerous reviews on the subject matter. It should be noted that all of the authors of existing reviews state that strategic analysis is the premise...
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...MGT600-1205A-03: Business Research for Decision Making Unit 1 IP Dr. Anthony Matias MGT600-1205A-03 Christine Blewett Abstract This paper will show the differences and similarities between formal research and a business proposal. After looking at different findings, the differences between both concepts exceed the similarities. It will then look at different studies done by many researchers to support the Hypothesis that Organizational Learning is indeed a predictor of effective strategic management. This paper will present how organizational learning can help managers with their strategic thinking to better execute goals and tasks. In the world today, we are surrounded by millions of businesses. We rely on these businesses for many of our essential needs. They provide us with food, clothes, entertainment and so much more. So, when problems occur in a business, it does not only affect the company itself but us as well. It is crucial that businesses run smoothly, and those who are in command know of solutions when certain problems arise to avoid negative outcomes. Those in charge are often called Business Manager’s. Business manager's come across problems on a day to day basis, whether big or small, managers must resolve these problems by making the right decision(Uma Sekaran, 2010, p. 2). Depending on the dilemma, decisions and solutions can be quite difficult to come up with so a process to make this task easier can be extremely helpful to the manager. Also, some encounters...
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...DEPARTMENT OF INSURANCE & ACTUARIAL SCIENCE STRATEGIC MANAGEMENT: AN INDISPENSABLE APPARATUS TO CREATE SUSTAINABLE COMPETITIVE ADVANTAGE IN THE VOLATILE ZIMBABWEAN SHORT-TERM INSURANCE MARKET? By HENSLEY MADAMOMBE N010 7541D SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS OF THE B.COM (HONOURS) DEGREE IN RISK MANAGEMENT AND INSURANCE SUPERVISOR: MR A. NYANHETE MAY 2014 Dedication To my family You have been my source of inspiration and hard work. You sacrificed everything that you had for the sake of my education. From you, I have learnt that: ‘it is only through a disciplined mind that success can only be achieved’. I will always love and cherish you. And, to the late Mr Paul Malaba (Former Chairman of the Insurance and Actuarial Science Department at NUST) You have gone too soon dear Sir, but your immense contributions to the academic fraternity will forever be cherished. You were an inspiration and a father-figure to all of us. The Q.A.B courses at NUST will never be the same without you. i Acknowledgements First and foremost, I would like to give honor, praise and glory to the almighty lord for his unending mercy, protection and unconditional love: “I will praise thee, O Lord my God, with all my heart; and I will glorify thy name for evermore” (Psalms 86:12, King James Version). I would also like to thank my parents, Mr. and Mrs. Madamombe, for their parental advice, financial support, guidance and endless love. Dear father and mother: ‘you are my fountain of...
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...Management control Process in a Manufacturing Organization. Roland Almqvist. What is the budgeting practice in the Nigerian Manufacturing companies? The aim of this study is to investigate the management control practice (budget being the tool for management control) in Guinness Nigeria Plc and to suggest what seems to us the most appropriate practice based on findings from literatures and empirics Supervisor: Problem Purpose : : Method : The study was described based on a qualitative approach. Furthermore, we described why we chose the company, sources of literature, techniques employed in data collection (primary data), research purpose, data analysis as well as critiques to the method use. Conclusion : The Integration of strategic Management and Budgeting enhances competitiveness which when attained is translated as high performance. Keywords : Management Control, Budgeting, strategy, High performance and Competitive advantage. ACKNOWLEDGEMENT Firstly we give thanks to God Almighty for the strength to work on this research. This work could not have materialized without the assistance of certain people who contributed to its success. Our special gratitude goes to Leif linnskog for his wonderful assistance during the programme and our tutor, Roland Almqvist who never failed to encourage us when we had difficulties, and also grateful to all the other members of the Mint group for making available to us...
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...Module Code(s) | Last Revision Date | ECTS Credits | | | | | | | TFRM9001 (2011-12) Research Methods for Masters Thesis | TFRM9001 (2011-12) Research Methods for Masters Thesis | | 30 | | | | | | Contact Hours | Max Class Size | Duration | Date approved | Approved Checked | | | 1 Semester | | | | School of delivery: School of Hospitality Management & Tourism | | Author: Jennifer Lawlor Geraldine Gorham | Description: This module facilitates postgraduate students to undertake and complete an independent investigation in a research area of their choice. | | Aims: The main aim of this module is to enable a student to research a particular area of interest through the preparation and completion of a Masters' thesis. | Learning Outcomes: | Outcome | | On completion the learner will be able to: 1. Complete a Masters' thesis, having investigated an individual subject/research area or tested a hypotheses outlined in a research proposal. 2. Conduct an analytical literature review appropriate to the research area under investigation. 3. Utilise appropriate research methodological techniques within the context if their research. 4. Present their findings, conduct an analysis of same, draw conclusions and provide recommendations within their research area. | | Learning and Teaching Methods | Methods | | Each student shall maintain regular and scheduled thesis meetings with assigned advisors...
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...revolutionary boom since the 1980s, Steinmueller, (1995). There are many different ways and methods of developing software and planning the strategy of a software development company, as we can derive from many recent research projects. Most of these projects are usually concerned with the way that software is developed and not with the way that the strategy of the company as a whole is planned, Cusumano, MacCormack, Kemerer, & Crandall, (2003). Another important factor is which techniques and methods are used to analyze company’s environment and how the strategy is formulated and implemented. In this paper we analyze a popular method for strategic planning which has been mostly used for product portfolio planning and strategic planning on an abstract level, as stated in a research paper by Houben, Lenie, & Vanhoof, (1999). We will focus our interest in the software industry and base our research on the case study of the Austrian software industry as it is presented by Bernroider, (2002). Additionally, certain guidelines are going to be presented, in order to carry out a successful internal and external analysis for any software development company. Combining these two types of analysis, certain criteria of a company’s core competences and main weaknesses are drawn. This method is called SWOT Analysis, which was developed by Albert Humphrey during the 1960s, as part of a research project for Stanford...
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...Responsibility Research Paper Bussines and Corporate Social Responsibility 1.0 Introduction: Corporate Social Responsibility means the way in which business firms integrate environmental, economic and social concerns into their culture, values, strategy, decision making and operations in an accountable and transparent manner and, therefore, leading to better creation of wealth, an improved society and better practices in the business organization. Activists, the media and governments all over the world have become adept by holding their organizations or enterprises to account for the social impacts of their actions. It is in this response that the use of Corporate Social Responsibility (CSR) has emerged to be one of the inescapable top priorities for various business leaders or managers all over the globe. However, the fact remains that many current approaches to Corporate Social Responsibility are quite disconnected from the initial strategy of various companies or firms using it. In order for business enterprises to contribute significantly towards their key competencies, then they should treat Corporate Social Responsibility as something that is central and vital towards their business strategy. The aim of this research paper is, therefore, to explain the importance of Corporate Social Responsibility in business organizations and ascertain how various organizations apply it to achieve various objectives of their business firms (Banerjee, 2007, p.90-150). 1.1 Research Objectives: ...
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...1303094 BE 951, MASTER OF FINANCE AND MANAGEMENT TABLE OF CONTENT INTRODUCTION…………………………………………………………………1.O MOTIVATION OF THE RESEARCH………………………………………......1.1 RESEARCH QUESTION………………………………………………………..2.0 THEORETICAL APPROACH…………………………………………………...2.1 EMPIRICAL APPROACH……………………………………………………….3.1 APPROPRIATENESS OF EMPIRICAL METHOD…………………………...3.2 FINDINGS AND CONCLUSION………………………………………………..4.0 FURTHER RESEARCH PROJECTS…………………………………………..4.1 MAIN CONTRIBUTION………………………………………………………….4.2 1.0 INTRODUCTION. This research studies how entrepreneurial firms evaluate performance benefit by simultaneously aligning high level of both entrepreneurial orientation (EO) and manager orientation (MO). It is relevant for firms operating in a developing economy context where these potentials are enhanced for business with strong social and business network ties. Entrepreneurial orientation refers to firms procluivity to explore new market opportunities and as such it manifest itself through a firms tendency to accept innovation, risk-taking, pro-activeness, competitive aggressiveness and autonomy (Lumpkin and Dess, 1996). Market orientation is defined as the implementation of the marketing concept in firms target market (Kohli and Jaworski, 1990) and reflects a firm’s orientation towards customers, competitors and other exogenous factors. The research implies that high level of entrepreneurial orientation are required for great innovation and new market creation and high level of...
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...Use of Strategic Planning Tools and Techniques by Hotels in Jordan Original Citation Aldehayyat, Jehad S., Al Khattab, Adel and Anchor, J.R (2010) The Use of Strategic Planning Tools and Techniques by Hotels in Jordan. Working Paper. Emerging Markets Research Group University of Huddersfield, Huddersfield, UK. (Unpublished) This version is available at http://eprints.hud.ac.uk/7507/ The University Repository is a digital collection of the research output of the University, available on Open Access. Copyright and Moral Rights for the items on this site are retained by the individual author and/or other copyright owners. Users may access full items free of charge; copies of full text items generally can be reproduced, displayed or performed and given to third parties in any format or medium for personal research or study, educational or not-for-profit purposes without prior permission or charge, provided: • • • The authors, title and full bibliographic details is credited in any copy; A hyperlink and/or URL is included for the original metadata page; and The content is not changed in any way. For more information, including our policy and submission procedure, please contact the Repository Team at: E.mailbox@hud.ac.uk. http://eprints.hud.ac.uk/ The Use of Strategic Planning Tools and Techniques by Hotels in Jordan ABSTRACT Purpose This paper aims to understand the use of strategic planning tools and techniques and the nature of its relationship with managers’ views...
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...School of Management Blekinge Institute of Technology THE IMPORTANCE OF THE PAYBACK METHOD IN CAPITAL BUDGETING DECISION. By Alaba Femi, AWOMEWE & Oludele Olawale, OGUNDELE Supervisor: Anders Hederstierna Thesis for the Master’s degree in Business Administration Fall/Spring 2008 THE IMPORTANCE OF THE PAYBACK METHOD IN CAPITAL BUDGETING DECISION. By Alaba Femi, AWOMEWE & Oludele Olawale, OGUNDELE A thesis submitted in partial fulfillment of the requirements for the degree of MBA (Master of Business Administration) Blekinge Institute of Technology 2008 Supervisor Anders Hederstierna ii Abstract Title: The importance of the Payback method in Capital budgeting decision. Authors: Alaba Femi, Awomewe and Oludele Olawale, Ogundele Supervisor: Anders Hederstierna Department: School of Management, Blekinge Institute of Technology Course: Master’s thesis in business administration, 15 credits (ECTS). Background and Problem Discussion: The capital budgeting decision has been a very typical issue in the sustenance of a company. Several companies have lost their identity or liquidated due to wrong capital budgeting decision they made at one particular time or the other. Based on these prevalent problems in industries and the effect of globalisation on industries, it is important to use effective method to analyse investment before decision is made. Capital budgeting is extremely important because the decision made involve the direction...
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...[Overview of R&D Evaluation Methods] 4/27/2015 Strategic Cost Management 1 Background- Strategic Management in R&D • Traditionally R&D Division in any company as been a part of Company’s overhead. • The investment in R&D has been strategically planned to be an “X”% of the sales or the profits achieved by the company. • The financial Matrix for an R&D organization has been poorly defined. • With recent stress on innovation, R&D is back in focus. • A lot of cost cutting measures and Product differentiation methods are now being tracked through R&D divisions through out USA. 4/27/2015 2 Benefits of R&D evaluation programs • Generate additional important information for continuous product improvement. • Document knowledge base and prevent silo operation. • Document research model to prevent repetition of previous unsuccessful models. • Develop systematic cost effective model . • The focus of R&D evaluation program would be on non-financial strategic allignment. 4/27/2015 3 R&D Evaluation programs: NonFinancial benefits • Increase overall efficiency and quality of an research program • Align R&D focus with the corporate strategic goal. • Promote innovation • Co-relate past efforts with the future to reduce down time. 4/27/2015 4 R&D Evaluation programs: NonFinancial benefits • Increase overall efficiency and quality of an research program • Align R&D focus with the corporate strategic goal. • Promote innovation ...
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...sciencedirect.com ScienceDirect Procedia - Social and Behavioral Sciences 119 (2014) 229 – 236 Project portfolio management in a company strategy implementation, a case study Irja Hyväria* a Martela Oyj, Aalto University School of Business, Finland Abstract The aim of this study is to investigate the effectiveness of the project portfolio management in different business organizations. Project portfolio management is seen as a holistic activity, dependent on the organization's strategy. This study aims to determine how the project portfolio decisions are made and how the project portfolio is managed. Also other organizational factors which may affect the efficiency of project portfolio will be considered. In this study, research method was case study carried out in business organizations. The study showed interconnection between company strategy, project portfolio and projects in process and practice. The results indicate that project portfolio management is, however, facing people challenges in managing project portfolio. © 2014 The Authors. Published by Elsevier Ltd. © 2014 The Authors. Published by Elsevier Ltd. Open access under CC BY-NC-ND license. Selection and peer-review under responsibility of the IPMA. Selection and peer-review under responsibility of the IPMA. Keywords: Project portfolio management; business organizations; company strategy; leadership* 1. Introduction Nowadays organizations face challenges in their environment and organizations...
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...would implement proper, just-in-time and a step-ahead of competition marketing strategies. Such an established and wheel functioning marketing department could potentially result in the company getting a better positioning in the market, will increase the company’s market share and satisfy customer needs, wants and meet their demands. Thus, creation and implementation a successful marketing strategy in business is very crucial, especially when we deal with a business such as water production, still or sparkling. The purpose of the research is to analyze the implementation of marketing strategies by Kosovo producers of water and to provide clear recommendations for companies that do not use marketing strategies. During the research we have found that water producers do not even have an already established marketing department, have not employed any marketing personal, nor they have a qualified sales person representing the company. According to our research of the existing water producing companies in Kosovo, only few of these companies, and in particular two out of ten have invested and established an already functioning marketing department, while others are planning to do so in the near future. One of the reasons we found out that they want to do that is for the purpose of imitating competition but not because they want a marketing department or personnel because it is...
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...Literature Review: Strategic Management BUSI 600 Business Research Methods Thomas Sheppard Liberty University October12, 2012 Abstract In order to have a successful study, a review of the literature will be undertaken. Then the methods and standards that were used will be addressed, and any questions that are being considered for further research into the area of strategic management will be discussed. From that point, it is vital that conclusions be drawn and recommendations be offered to wrap up the study. Without these components, it is often not clear whether a researcher has a thorough understanding of what the study was designed to do, and it is also not clear if said researcher is certain as to what else should be done in the area and should be questioned when it comes to that particular issue. In short, studies without these components lack completeness and that can make it difficult for anyone in the future to use the study as a jumping off point for similar studies or studies into related issues. The concept of strategic management is one that is highly important to organizations around the world (David, 2009). It involves taking a look at the top management of a company and the resources that management team is using on behalf of the company's owners and in order to show a specific level of performance. The mission, vision, and objectives of the organization must be examined, and it is necessary for them to...
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