Strategic Management Basics

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Questions and Answers

What is one of the primary aims of this module in relation to student's self-awareness?

To evaluate your ability to lead a team effectively.

To realize the extent of your hidden knowledge. (correct)

To develop advanced analytical skills.

To provide immediate solutions to business problems.

Which action is NOT recommended for creating the right conditions in a business school?

Rating your own skills.

Mind mapping to organize thoughts.

Keeping a notebook with you at all times.

Avoiding curiosity to stay focused. (correct)

What does the lecturer believe is key to developing managerial identity and purpose?

Engaging with external business consultants.

Completing numerous assignments.

Focusing solely on theoretical content.

Creating the right context for learning. (correct)

Which of the following skills is part of the self-rating exercise?

Interpersonal skills. Signup and view all the answers

What metaphor does H. Mintzberg use to describe management?

An orchestra conducting in a rehearsal. Signup and view all the answers

What should students aim to do after completing the module according to the objectives outlined?

Apply new ways of thinking to their job. Signup and view all the answers

Which of the following statements aligns with Marshall Goldsmith's perspective?

What has worked before may not work again. Signup and view all the answers

What principle does reflective learning support in a workplace setting?

Fostering curiosity and adaptability. Signup and view all the answers

What is a key component of critical thinking?

Actively evaluating evidence and reasoning Signup and view all the answers

Which of the following statements best describes uncritical thinking?

Automatically believing what is read or told Signup and view all the answers

Which of the following questions reflects critical thinking?

Why should I take this as true? Signup and view all the answers

What is metacognition?

Thinking about one's own thinking Signup and view all the answers

How can focus and productivity be improved according to the provided strategies?

By managing time in focused bursts Signup and view all the answers

What is the purpose of forming an argument?

To persuade others through reasoning Signup and view all the answers

Which approach can enhance decision-making processes in business?

Engaging in critical discussions and evaluations Signup and view all the answers

What does it mean to think critically for oneself?

Understanding and evaluating differing viewpoints Signup and view all the answers

What is one key responsibility of middle managers?

Implementing strategic decisions Signup and view all the answers

Which of the following statements best describes a senior manager's role?

They translate the organization's vision into strategy. Signup and view all the answers

In decision-making under uncertainty, what is an essential skill for managers?

Gathering and analyzing information effectively Signup and view all the answers

What does the 'proxy activity' of management imply?

Managers represent and act on behalf of others. Signup and view all the answers

What is a characteristic of first-level managers?

They focus on learning the ropes and taking responsibilities. Signup and view all the answers

Which statement about the role of critical thinking in management is true?

Managers should consciously use resources to create value. Signup and view all the answers

What is one of the organizing principles at Semco?

Employees selecting their own bosses Signup and view all the answers

Which of the following best describes how value is traditionally measured in management?

Using financial metrics Signup and view all the answers

Study Notes

Introduction

The module is taught by Juan Pablo Fravega, an associate lecturer of marketing and business management at DBS and a business consultant for PharmaSupport.
The module aims to introduce students to key concepts, theories, and models of strategic management.
Students should be able to apply new ways of thinking to their work, re-evaluate their performance, and realize that they know more than they thought.
Students will learn how much more there is to know!

### Critical Thinking

Critical thinking is the opposite of uncritical thinking.
Critical thinking involves pausing and evaluating what is going on, searching for the best explanation of how things are.
Uncritical thinking automatically believes what you read or are told without questioning the accuracy or truthfulness.
Metacognition is thinking about thinking itself.

Key Concepts

Management is a proxy activity with managers representing others, creating value, and setting the context.
Managers make decisions under uncertainty, gather and analyze information, communicate effectively, and connect strategy to every situation.
Managers can be divided into first level, middle level, and senior managers.
First level managers learn from doing and take on responsibilities and decisions with little political involvement.
Middle managers have previous management experience, have an informed curiosity, are self-preserving, and are responsible for implementation.
Senior managers represent the owners, translate vision, set strategy, and keep their eyes and ears open for context.

Assessment

The module has a group project and an individual assignment, each worth 50% of the final grade.

### Spotlight: Organizing at Semco

Semco is a Brazilian company that uses self-managed work teams as its main organizing principle.
Employees choose their bosses, set their own budgets and production goals, and evaluate their bosses twice a year.
Meetings are voluntary, and any member of the organization can attend board meetings.
There is no mission statement, no human resources department, and no headquarter.
Teams are responsible for all aspects of production, invent and reinvent products, and decide their own working hours and wage.

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Description

This quiz covers foundational concepts in strategic management, emphasizing critical thinking and metacognition. Students will explore key theories and models that inform decision-making in management roles, enhancing their understanding and approach to business challenges.