Professional Documents
Culture Documents
Advanced Statistic Management Notes For MBA.
Advanced Statistic Management Notes For MBA.
Advanced Statistic Management Notes For MBA.
2
Example of Strategic Management:
A for-profit technical college wishes to increase new student enrollment
and enrolled student graduation rates over the next three years. The
purpose is to make the college known as the best buy for a student's money
among five for-profit technical colleges in the region, with a goal of
increasing revenue.
In that case, strategic management means ensuring the school has funds to
create high-tech classrooms and hire the most qualified instructors. The
college also invests in marketing and recruitment and implements student
retention strategies. The college’s leadership assesses whether its goals
have been achieved on a periodic basis.
PROCESS OF STRATEGIC
MANAGEMENT
3
FEATURES OF STRATEGIC
MANAGEMENT
4
creation of the strategy that other processes commence by making
the strategy as its basis.
IMPORTANCE OF STRATEGIC
MANAGEMENT
1. Alertness in Employees: The alertness among the employees
increases the success of objectives and targets due to strategic
management. While framing the strategy management studies the
capability and weakness of employees and resources and taking
the steps to improve them, the employees become more alert
about their own performance and the group activity.
5
on accepting various optional strategies which result in to co-
operation and unity. Not only that, but the managers can also get
the advantage of special strength of group members.
6
STRATEGIC CHOICE
7
PROCESS OF STRATEGIC CHOICE
FOCUSING ON STRATEGIC
ALTERNATIVES
8
STRATEGIES TO ACHIEVE
STAKEHOLDERS OBJECTIVES
• Who are the individuals that you need to talk to as part of each
stakeholder group?
5. Report back
9
STAKEHOLDER ANALYSIS
KEEP MONITOR
POWER/INFLUENCE
SATISFIED CLOSELY
KEEP
MONITOR
INFORMED
INTEREST
10
ETHICAL ISSUES IN
ORGANISATIONS
12
financial statements by company management. Usually, this is
carried out with the intent of misleading investors and maintaining
the company's share price.
ETHICAL DILEMMA
An ethical dilemma is a moral situation in which a choice has to be made
between two equally undesirable alternatives. Dilemmas may arise out of
various sources of behaviour or attitude, as for instance, it may arise out of
failure of personal character, conflict of personal values and organizational
goals, organizational goals versus social values, etc.
Examples of ethical dilemmas include:
1. Taking credit for other’s work
2. Personal friendships
3. Offering a client a worst product for your own profit
4. Utilising inside knowledge for your own profit
13
RESOLVING AN ETHICAL DILEMMA
1. Know the Principles: In ethical decision making there are three basic
principles that can be used for resolution of problem. These three
principles are that of intuitionism, moral idealism and utilitarianism.
The principle of intuition works on the assumption that the HR
manager is competent enough to understand the seriousness of the
situation and act accordingly, such that the final decision does not
bring any harm to any person involved directly or indirectly. The
principle of moral idealism on the other hand states that there is a
clear distinction between good and bad, between what is acceptable
and what is not and that the same is true for all situations. It
therefore asks to abide by the rule of law without any exception.
Utilitarianism concerns itself with the results or the implications.
There is no clear distinction between what is good and what is bad;
the focus is on the situation and the outcome.
14
5. Integrating Ethical Decision Making into Strategic Management:
Morality and ethical make up for a perennial debate and ethical
perfection is almost impossible. A better way to deal with this is to
integrate ethical decision making into strategic management of the
organization. The way the HR manager gains an alternate
perspective rather than the traditional employee oriented or
stakeholder oriented view.
All these steps can bring better clarity into resolving ethical dilemmas. The
choice lies with the manager and the organization value clarity.
15
BIBLIOGRAPHY
1. www.managementstudyguide.com
2. www.corporatefinanceinstitute.com
3. www.biggsuccess.com
4. www.tutorialspoint.com
5. www.floridatechonline.com
6. www.nap.edu.com
16