Mgt GIZMO PDF

MGT Staff managers - responsible for departments that support line Organization – social entity that is goal directed and departments deliberately structured General manage...

MGT Staff managers - responsible for departments that support line Organization – social entity that is goal directed and departments deliberately structured General managers - responsible for several departments that Goal directed – designed to achieve some outcome perform different functions Deliberately structured – tasks are divided and responsibility Project managers - responsible for a temporary work project for their performance is assigned that involves the participation of people from various functions Effectiveness – degree to which goals are achieved and levels of the organization, and perhaps from outside the Efficiency – use of minimal resources to produce the desired company volume of output Technical skills – Job-specific knowledge and techniques Goals - the thing that the organization must achieve needed to proficiently perform work tasks People - what organization have or composed of Interpersonal skills – The ability to work well with other Structure - the arrangement of an organization people individually and in a group The universality of management - Management is needed in Conceptual skills – The ability to think and to conceptualize all types and sizes of organizations about abstract and complex situations The reality of work - You will either manage or be managed Political skills – Building a power base and establishing the Rewards and challenges of being a manager - Management right connections offers challenging, exciting and creative opportunities for meaningful and fulfilling work and offers significant monetary MAJOR SOURCES OF CHANGE THAT IMPACTS THE rewards for the efforts MANAGER’S WAY Gaining insights into life at work - Understanding Focus on the customer management concepts and how managers think will help you get Focus on technology better results at work and enhance your career. Focus on social media First Wave (Agricultural Era) – wealth creation is still tightly Focus on innovation attached to land Focus on sustainability Second Wave (Industrial Era) – wealth creation through Focus on the employee industrial production Third Wave (Information Era) – wealth creation is tightly Environment - totality of all the elements and forces present in linked to information and knowledge handling its immediate and remote surroundings Alvin Toffler - made the third wave in 1981 External Environment - major forces outside the organization Competitive advantage - what sets the organization apart from that present potential for the likely success of products and others and provides it with a distinctive edge in the marketplace services. Cost leadership - establishing a competitive advantage by Macro/General Environment - the most general elements in having the lowest cost of operation in the industry. the environment that can influence a manager’s strategic Differentiation - the way in which you make your firm stand decisions. out from otherwise similar competitors in the marketplace. Technological Environment - Current state of knowledge Innovation – introduction of new goods and services regarding products and services Quality – total quality management Economic Environment - Describes the general economic Service – giving customers what they need and want when they health of the country; forces involved producing, distributing and need it consuming wealth Speed – fast delivery of services and results Legal/Political Environment - Policies/rules and regulations Cost competitiveness – keeping costs imposed by law that may negatively and positively affect Planning – Setting goals and deciding on the tasks and organization’s operations resources needed to attain them Socio-cultural/Demographic Environment - Attitudes, values, Organizing – Assigning tasks, grouping tasks into departments, norms, beliefs, behaviors and associated demographic trends and allocating resources Natural Environment - Depletion of natural resources have to departments serious implications in production operations due to raw Leading – Using influence to motivate employees to achieve materials and supplies scarcity organizational goals Task/Industry Environment - The forces that are closer to the Controlling – Monitoring employees’ activities, keeping the organization: Customer, Suppliers, Competitors, Labor Market organization on track toward Customer/Clients - those who purchase organizational its goals, and making corrections as needed products Management - Process of POLC the work of organization Competitors – organizations in the same industry with the members and using available resources to reach organization same goods and same services goals Suppliers – organizations that provide raw materials and Manager - Person responsible for directing the efforts aimed at supplies for the operations helping organizations achieve their goals Labor market – people in the environment who can be hired to Executive management (or “top management”) - work for the organization. Responsible for the overall success and concerned about the New entrants - increase industry capacity and intensifies long-term future, the external environment competition Middle management - Responsible for business units and Rivalry among existing firms - brought about by the number major departments and concerned about the near future of players and their scale of operations Middle management- Implement the overall strategies and Suppliers - provide raw materials and may exert power by policies defined by top managers forcing the industry to buy at a higher price First-line management - Responsible for the production of Buyers - absorb industry products and may exert power by goods and services forcing the industry to sell at a lower price Team leaders - Responsible for managing and facilitating the Substitutes - intensify competition and put a ceiling to the activities of a work team. prices that the current players may charge Functional managers - responsible for departments that Organizational Culture – system of shared meaning held by perform a single functional task members that distinguishes the organization from other organizations.  Corporate culture - determines the organization’s personality Strategic maneuvering - an organization’s conscious efforts to and its capability to adapt to the ever-changing external change the boundaries of its task environment environment Domain selection – entrance by a company into another Culture - can be strong (widely shared) or weak (limitedly suitablemarket or industry shared) among employees or members of the organization. It can Diversification - process of allocating capital in a way that be fast-paced or easy-going. reduces the exposure to any one particular asset or risk. Merger/Acquisition - combine two business entities into one. Divestiture - the action or process of selling off subsidiary business interests or investments. Organizations should attempt to change appropriate elements of the environment Organizations should choose responses that focus on pertinent elements of the environment 7 PRIMARY CHARACTERISTICS OF AN Companies should choose responses that offer the most benefit ORGANIZATION’S CULTURE at the lowest cost Innovation & risk taking Ethics - defined as the study of what is good or right for human Attention to detail beings. Outcome orientation Morals - refer to a person’s personal philosophies about what is People orientation right or wrong. It is personal or singular. Team orientation Business ethics - comprises organizational principles, values, Aggressiveness and norms that may originate from individuals, organizational Stability statements, or from the legal system that primarily guide individual and group behavior in business. Symbol - an object, act or event that conveys meaning to others Principles - specific and pervasive boundaries for behavior that and can be considered rich, non-verbal language, that vibrantly should not be violated. conveys the organization’s important values Values - are enduring beliefs and ideals that are socially Story - a narrative based on true events and is repeated enforced. frequently and shared among organizational employees. Domain of codified law - values and standards are written into Stories - are told to new employees to keep the organization’s the legal system and primary values alive enforceable in the courts. Heroes - a figure who exemplifies the deeds, character and Domain of free choice - at the opposite end of the scale and attributes of a strong culture. pertains to behavior about which the law has no say and for Slogans - a phrase of sentence that succinctly expresses a key which an individual or organization enjoys complete freedom corporate value. Domain of ethics - This domain has no specific laws, yet it Ceremonies - a planned activity at a special event that is does have standards of conduct based on shared principles and conducted for the benefit of an audience. values about moral conduct that guide an individual or company Ethical dilemma - presents itself in various ways to a manager. POSITIVE IMPACTS OF CULTURE Supports organizational goals Is widely shared Is deeply internalized by organizational members Environment uncertainty – future environmental circumstances are difficult to predict because of insufficient FACTORS THAT DETERMINE ETHICAL AND information and the “uncontrollability” of many environmental UNETHICAL DECISIONS forces 1. his or her stage of moral development and other moderating Dynamism/Degree of Change – the rate of environmental variables, including individual characteristics; changes 2. the organization’s structural design Environmental Complexity – there are many different 3. the organization’s culture; and elements affecting organization’s operations 4. the intensity of the ethical issue. Organizations should do be able to scan the environment to gather information about the intensity of competition and Values - represent basic convictions about what is right and opportunities and threats presented by the external environment. wrong. Given the results of the environmental scanning process, Values and Personality - two individual characteristics that organizations then may build scenarios (optimistic & play an important role whether a person behaves ethically. pessimistic) and do forecasting to be able to manage future events Ego strength - measures the strength of a person’s convictions. Organizations may also do benchmarking to identify best People with high ego strength are likely to resist impulses to act practices in the industry and make use of these as basis for unethically and instead follow their convictions. organization improvement. Locus of control - the degree to which people believe they Adaptation approach - Organizations may change internal control their own fate. operations to make it more compatible with the environment Corporate culture - the “set of values, norms, and artifacts, Favorability influence approach - Organizations may affect including ways of solving problems that members (employees) of the environment to make it more compatible with their operations an organization share. Domain shift - Organizations may also select a new Ethical issue intensity - the “perceived relevance or environment importance of an ethical issue to an Independent Action – strategies used by an organization to individual or work group. change some aspects in the environment Utilitarian approach - espoused by the nineteenth-century Cooperative Action – strategies used by two or more philosophers Jeremy Bentham and John Stuart Mill, holds that organizations to influence the environment moral behavior produces the greatest good for the greatest number.  Individualism approach - approach contends that “acts are Formation/creation - Begins from the moment of execution of moral when they promote the individual’s best long-term the contract (Art. 1784, Civil Code) interests. Moral-rights approach - asserts that “human beings have Article 1772. Every contract of partnership having a capital of fundamental rights and liberties that cannot be taken away by an three thousand pesos or more, in money or property, shall appear individual’s decision. in a public instrument, which must be recorded in the Office of Justice approach - holds that “moral decisions must be based the Securities and failure to comply with the requirements of the on standards of equity, fairness, and impartiality. preceding paragraph shall not affect the liability of the The right of free consent - Individuals are to be treated only as partnership and the members thereof to third persons. they knowingly and freely Article 1775. Associations and societies, whose articles are consent to be treated. kept secret among the members, and wherein any one of the The right to privacy - Individuals can choose to do as they members may contract in his own name with third persons, shall please away from work and have control of information about have no juridical personality, and shall be governed by the their private life. provisions relating to co ownership. The right of freedom of conscience - Individuals may refrain Universal partnership - May refer to all the present property from carrying out any order that violates their moral or religious or to all the profits (Art. 1777) norms. Universal partnership - the property which belonged to each The right of free speech - Individuals may criticize truthfully of the partners at the time of the constitution of the partnership, the ethics or legality of actions of others. becomes the common property of all the partners, as well as all The right to due process - Individuals have a right to an the profits which they may acquire therewith. (Art. 1779) impartial hearing and fair treatment. Particular partnership - has for its object determinate things, The right to life and safety - Individuals have a right to live their use or fruits, or a specific undertaking, or the exercise of a without endangerment or profession or vocation. (Art. 1783, Civil Code) violation of their health and safety. Distributive justice - requires that different treatment of people not be based on arbitrary characteristics. CLASSIFICATION OF PARTNERS Procedural justice - requires that rules be administered fairly. As to contribution: Compensatory justice - argues that individuals should be 1. Capitalist partner – one who contributes money or property compensated for the cost of their to the common fund injuries by the party responsible. 2. Industrial partner – one who contributes only his industry or Employee selection - the selection process should be viewed as personal service an opportunity to learn about an individual’s level of moral development, personal values, ego strength, and locus of control. As to liability: Code of ethics - Uncertainty about what is and is not ethical 1. General partner - one whose liability to third persons extends can be a problem for to his separate property, he may either be a capitalist or employees. industrial partner. Ethical leadership - Doing business ethically requires a 2. Limited partner - one whose liability to third person is commitment from managers at all limited to his capital contribution levels, but especially the top level. Job goals and performance appraisal - cautioned against As to management: unrealistic goals as employees might do everything necessary, 1. Managing partner –one who manages the business or even do unethical acts, to affairs of the partnership; he may be appointed in the articles meet those goals. of partnership or after constitution of the partnership. Ethics training - To encourage ethical behavior, most 2. Silent partner –one who does not take any active part in organizations are setting up seminars, workshops, and similar the business although he may be known to be a partner. ethics programs. 3. Liquidating partner - one who takes charge of the Independent social audits - The fear of being caught can be an winding up of the partnership affairs upon dissolution. important deterrent to unethical behavior. Protective mechanisms - Employees who face ethical dilemmas need protective mechanisms so they can do what’s right without fear of reprimand. Profit and loss sharing - Governed by the Articles of IMPORTANCE OF KNOWING DIFFERENT TYPE OF Partnership BUSINESS Profit and loss sharing - If only the share of each partner Business formation and execution is aligned with business in the profits has been agreed upon, the share of each in the model losses shall be in the same proportion. Tax incidence and implications Transfer of ownership - Interest in a partnership may be sold Business risks to existing partners or to another party only with the conformity Regulatory compliance and approval of existing partners. Taxation - Same tax as a corporation for general and limited Governance partnership and individual tax payments by each partner in a general professional partnership Sole Proprietorship - the simplest form of business: Owner Dissolution of partnership - the partnership is not terminated, has full control, authority and responsibility over all the assets but continues until the winding up of partnership affairs is and liabilities of the business completed. Partnership - Art. 1767 of the Civil Code provides: two or more persons bind themselves to contribute money, property, or CAUSES OF DISSOLUTION industry to a common fund, with the intention of dividing the 1.Without violation of agreement profits among themselves 2. Violation of the agreement Partnership - this is formed through mutual agreement 3. By any event which makes it unlawful for the business of the partnership to be carried on or for the members to carry Acquisition of court of jurisdiction – service of summons it on in partnership may be made on the president, general manager, 4. Loss of a specific thing which a partner had promised to corporate secretary, treasurer or in-house counsel. (Sec contribute to the partnership. 5. Death of any partner 11, Rule 14, Rules of Court) 6. Insolvency of any partner or the partnership Members may change but the juridical person of the 7. Civil interdiction of any partner corporation remains the same without alteration. 8. Decree of court Entitlement to due process and equal protection of law under the Constitution. Instances when a partner can apply to the courts for Salient features of the Revised dissolution of partnership Corporation Code (R.A. No. 11232) 1. A partner has been declared insane in any judicial A corporation can now exist perpetually unless dissolved proceeding or is shown to be of unsound mind; sooner. 2. A partner becomes in any other way incapable of Electronic means is now allowed in filing performing his part of the partnership contract; requirements. 3. A partner has been guilty of such conduct as tends to affect prejudicially the carrying on of the business; “Chief Executive Officer” is made the 4. (A partner wilfully or persistently commits a breach of alternative title to President the partnership agreement, or otherwise so conducts “Chief Financial Officer” is made the alternative himself in matters relating to the partnership business that title to Treasurer. it is not reasonably practicable to carry on the business in The inclusion of Compliance Officer is now partnership with him; mandatory. 5. The business of the partnership can only be carried on at a loss; CLASSIFICATION OF CORPORATIONS 6. Other circumstances render a dissolution equitable. 1. Stock 2. Non-stock Civil interdiction - an accessory penalty imposed upon persons 3. Other classifications who are sentenced to a principal penalty not lower than reclusion temporal (article 41, Revised Penal Code), which is a penalty Stock corporation - has a capital stock divided into shares and ranging from 12 years and 1 day to 20 years. is authorized to distribute to the holders of such shares dividends or allotments of the surplus profits and its governing body is the Article 34 of the Revised Penal Code provides: “Civil interdiction Board of Directors (organized for profit) shall deprive the offender during the time of his sentence of the rights Non-stock corporation - one where no part of the income is of parental authority, or guardianship, either as to the person or distributable as dividends to its members, trustees, or officers property of any ward, of marital authority, of the right to manage his and its governing body is usually the Board of Trustees (not property, and of the right to dispose of such property by any act or any conveyance inter vivos.” organized for profit) Joint Venture - an association of persons or companies jointly Formation of corporations undertaking some commercial enterprise Maybe formed by at least one person (one person Joint Venture - an organization formed for some temporary corporation) but not more than 15 natural persons purpose Corporate or juridical existence begins from the date of issuance of Certification of The partnership contemplates a general business with some Incorporation by SEC. degree of continuity, while the joint venture is formed for the execution of a single transaction, and is thus of a temporary COMPONENTS OF A CORPORATION nature. Incorporators - are those stockholders or members mentioned in the articles as originally forming and composing the Corporation - an artificial being created by operation of law, corporation and who are signatories thereof. having the right of succession and the powers, attributes and Requirements: properties expressly authorized by law or incident to its Any person, partnership, association or corporation existence. (Sec. 2 of the Corporation Code, as amended). not more than 15 (except those in the practice of profession) ATTRIBUTES OF A CORPORATION Of legal age It is an artificial being with a separate and distinct personality; Must own or subscribe to at least one share of stock It is created by operation of law; of the corporation It enjoys the right of succession; One Person Corporation (OPC) - A corporation It has the powers, attributes and properties expressly with a single stockholderis authorized by law or incident to its existence. Corporators - are those who compose a corporation, whether as stockholders or as members. Doctrine of separate personality - a corporation has a juridical Shareholders or Stockholders - personality separate and distinct from that of its stockholders or corporators in a stock corporation members. Members - corporators in a non-stock corporation CONSEQUENCES OF HAVING A SEPERATE PERSONALITY CORPORATE TERM Obligations incurred by the corporation, Perpetual existence unless the AOI provides otherwise acting through its directors, officers and Corporations existing prior to the effectivity of the Revised employees, are its sole liabilities. Corporation Code shall have perpetual existence unless the A corporation may bring legal actions in its own corporation, upon a vote of its stockholders representing name in the same manner as natural persons. majority of its capital stock, notifies the commission that it Properties of corporation are not properties of stockholders. elects to retain its specific corporate term  Any change in corporate term is subject to appraisal right 3. Equal voting rights A corporation whose term has expired may apply for a revival 4. Democratic management of its corporate existence 5. Fixed legal life 6. Capital divided into shares GENERAL POWERS OF A CORPORATION 7. Observe formality conducting business affairs 1. To sue and be sued; 8. Registered with the Cooperative Development Authority 2. Succession; 3. Adopt and use corporate seal; TYPES OF COOPERATIVES 4. Amend its AOI; Credit Cooperative - promotes and undertakes savings or 5. Adopt its by-laws; lending services to its members. 6. For stock corporations: issue and sell stocks to Consumers Cooperative - one of the primary purpose of subscribers; For non-stock corporations: to admit which is to procure and distribute commodities to members members and non-members; 7. Purchase, receive, take or grant, hold, convey, lease, Producers Cooperative - undertakes joint production whether pledge, mortgage and deal with real and personal agricultural or industrial. properties, securities and bonds Marketing Cooperative - engages in the supply of production 8. Enter into merger or consolidation inputs to members and markets their products 9. Make reasonable donations for public welfare, hospital, Service Cooperative - one which engages in medical and charitable, cultural, scientific, civic or similar purposes, dental care, hospitalization, transportation, insurance, housing, provided that no donation is given to any 1) political, 2) labor, electric light and power, communication, professional candidate and 3) partisan party political activity and other services 10. Establish pension, retirement or other plans for the Multipurpose Cooperative - one which combines two or benefit of its directors, trustees, officers and employees more of the business activities of these different types of 11. Exercise other powers essential or necessary to carry out its cooperatives; purposes Advocacy Cooperative - a primary cooperative which promotes and advocates cooperativism among its members and DEGREE OF A FORMALITY the public Existence of formal records – articles of Agrarian Reform Cooperative - organized by marginal incorporation, minutes of the meeting, by-laws, farmers majority of which are agrarian reform beneficiaries other books Cooperative Bank - organized for the primary purpose Election of officers ; election of BOD of providing a wide range of financial services to Regular/Specialmeetings of the BOD or cooperatives and their members; shareholders to elect management or ratify Dairy Cooperative - whose members are engaged in the management’s actions as required by law or production of fresh milk which may be processed and/or company policies. marketed as dairy products; Education Cooperative - organized for the primary purpose Transfer of ownership - Owners of shares of corporations of owning and operating licensed educational institutions (personal property) can exercise all powers of full ownership. notwithstanding the provisions of Republic Act No. 9155, Limitations on this power are restricted only to those authorized otherwise known as the Governance of Basic Education Act by the SEC such as transfer restrictions for close corporations. of 2001; Electric Cooperative - organized for the primary purposed of undertaking power generations, utilizing renewable energy Transfer of ownership - To effect transfer, parties must execute sources, including hybrid systems, acquisition and operation of a public instrument such as a Deed of Transfer/Assignmentof subtransmission or distribution to its household members; Shares, pay the corresponding BIR taxes, and record the transfer Financial Service Cooperative - organized for the in the Stock and Transfer Book of the corporation. primary purpose of engaging in savings and credit Taxation - Corporate tax: 30% services and other financial services; Dissolution - the termination of a partnership and occurs when Fishermen Cooperative is one organized by at least one of the partners in the business partnership is no marginalized fishermen in localities whose products are longer part of the business. marketed either as fresh or processed products; Corporation shall have perpetual existence unless the Health Services Cooperative - organized for the purpose of corporation (incorporated before the effectivity of the providing health services; revised corporation code) expresses intent to abide by the Housing Cooperative - organized to assist or provide access corporate terms as stated in its AOI. to housing for the benefit of its regular members who actively By majority vote of the Board and by a resolution adopted by participate in the savings program for housing. It is co owned stockholders representing 2/3 of the outstanding capital and controlled by its members; stock, all corporate assets including goodwill may be sold, Insurance Cooperative - engaged in the business of insuring disposed or leased. life and poverty of cooperatives and their members; Cooperative - an autonomous and duly registered association Transport Cooperative - includes land and sea transportation, of persons, with a common bond of interest, who have limited to small vessels, as defined or classified under the voluntarily joined together to achieve their social, economic, and Philippine maritime laws, organized under the provisions of this cultural needs and aspirations by making equitable contributions Code; to the capital required, patronizing their products and services Water Service Cooperative - organized to own, operate and and accepting a fair share of the risks and benefits of the manage waters systems for the provision and distribution of undertaking in accordance with universally accepted cooperative potable water for its members and their households; principles3. Workers Cooperative - organized by workers, including the self-employed, who are at same time the members and CHARACTERISTICS OF A COOPERATIVE owners of the enterprise. 1. Voluntary association - Its purpose is to 2. Separate juridical entity provideemployment and business  opportunities to its members and determination of bonuses if targets are met or manage it in accordance with exceeded. cooperative principles; Personnel Management ○ attracting, developing, maintaining human resource ○ Administration of employee benefits ○ Recruitment process Business - entities involved in transforming resources to ○ Performance evaluation of employees products or services, offering it to customers, in order to address ○ Orientation of new employees on company their needs, profitably policies, personnel policies, company history Management Functions - Activities/functions organizations ○ Maintenance of personnel records do/perform in order to attain efficiency and effectiveness - Planning, Organizing, Leading, OTHER BUSINESS MANAGEMENT FUNCTIONS Controlling Purchasing Business Functions - Activities/functions organizations Public relations do/perform in order to make profits/ income Financial, consumer, crisis, industry, government - Done to make customers, clients, Research and development suppliers, employees and investors satisfied. Case - describes how the current position developed and what a key personality in the FUNCTIONAL AREAS OF BUSINESS case is currently facing Financial Management - Acquisition, management & financing resources WHAT IS THE CASE METHOD OF TEACHING? - Primarily concerned with Roots are in the “Socrates Method” investment and financing Real world examples presented to students and learning is decisions facilitated through discussion and skillful questioning of students a. Investment Decisions - Preparation of Built on analysis of complex real-world problems long-range plans and budgets for major Action-based learning environment allows students to generate investments their own solutions to real-life problems - Determination of the total Creates a participatory learning process in which students learn amount of assets held by the from one another and firm, the composition of consider diverse opinions these assets, business risk Helps students begin to get comfortable making decisions complexion of the firm Leads students to deeper insights into problems, issues and b. Financing Decisions - Determination of the opportunities and their financing mix and sources appropriate for the resolution requirements of the firm. Regarded as one of the most effective and enjoyable ways to c. Capital budgeting process - A top-level learn concern because it involves allocation of funds Production Management - Covers production WHEN DID THE CASE METHOD OF TEACHING FIRST planning, production process, and quality control ARISE? PRODUCTION PLANNING AND CONTROL Christopher C. Langdell - developed the case method of 1. Routing – determines the operations to be teaching in 1870s bassed on Socratic principles at Harvard Law performed and their sequence School. 2. Loading – function of assigning work to a Socratic Methd - This method of teaching was eventually machine or department adopted in Harvard Business School in 1920 and in Harvard 3. Scheduling – determines the time at which Medical School in 1985. each operation is to take place 4. Dispatching – authorizes the actual start of operations Lecture - Ideal for introduction of concepts, theories, 5. Expediting – monitors the execution of plans principles, etc. Quality Control - process of ensuring that products Lecture - Basic assumption: lecturer knows more about the meet quality specifications topic than anybody else in the room Wage incentive systems - involve the determination of Lecture - Success/failure of the process is based on rate of bonuses for meeting or exceeding production targets, the basis for absorption of new information (as measured by exam results) payment of compensation and the penalties for poor performance Lecture - Professors serve as center stage; students as Marketing Management stenographers ○ Analyzing marketing opportunities - deals Lecture - Ideal for application of concepts, theories, principles, with components of different marketing system etc. e.g. competitors, suppliers and buyers Lecture - Basic assumption: all participants can contribute to ○ Planning marketing programs - an operating the learning process plan that focuses on the product mix, prices, Lecture - Success/failureis based on level of promotions and channels of distribution with a participation/interaction(as measured by the level of excitement timetable for each activity during discussion) ○ Formulating product strategies - product Lecture - Professors take the passive role serving as development, product phase-out, product moderators and wrapping up the case planned obsolescence Lecture - Efficient way of shooting information and analysis to ○ Administration of marketing program - the students evaluation of product performance, performance of marketing sales and personnel,  e. What should be done by whom, where, when Case Method - Ideal for application of concepts, theories, and how? principles, etc. f. What is the best outcome you foresee from the Case Method - Basic assumption: all participants can chosen option? What is the worst? contribute to the learning process Case Method - Success/failureis based on level of Problems in using the case method participation/interaction(as measured by the level of excitement The students have to find the problem during discussion) There are many solutions to a case (a source of confusion and Case Method - Professors take the passive role serving as insecurity) moderators and wrapping up the case after the discussion; The given information is incomplete, and some information students do most of the talking may even be irrelevant Case Method - Interactive and indirect; effective but less Cases do not offer an analysis (students have to do it efficient themselves) Cases sometimes present ambiguous situations reflective of SKILLS THAT CAN BE DEVELOPED WHEN LEARNING realities in business organizations BY THE CASE METHOD Analytical Skills - Information handling (organization, Characteristics of the point of view - A position or main classification, evaluation) character in the case who could best tackle the case issue - Integrative thinking Characteristics of the point of view - Required for consistency Application Skills - Applying concepts, techniques, in treating case facts and arriving at a solution diagnosing, making decisions, etc. Characteristics of the problem statement - Most important Creative Skills - Creativity in generating solutions concern of the firm Communication Skills - Public speaking (oral presentation) Characteristics of the problem statement - Could be an Communication Skills - Use of visual aids objective or a constraint in meeting the objective Communication Skills- Defending your viewpoint Characteristics of the problem statement - Arrived at after a Communication Skills - Convincing others of one’s arguments careful assessment of the case issues or persuading Characteristics of the problem statement - Stated in question Communication Skills - Listening form which is not answerable by yes or no Social Skills - Interacting with the other members of the group Analysis of relevant case facts - Analyze relevant factors in the Self-analysis Skills - Analysis of one’s values, inclinations, macro environment and task environment which have a bearing risk-taking ability, and attitudes. on how the case unfolds and which and which may serve as Decision-making Skills - Case requires analyst to make sound important inputs in solving the case problem decisions Analysis of relevant case facts - Components include relevant factors in the general environment, industry environment, and General framework in case analysis internal environment of the concerned organization in the case 1. Situation analysis 2. Problem analysis SWOT ANALYSIS FRAMEWORK 3. Decision analysis SWOT stands for strengths, weaknesses, opportunities, and 4. Potential problem analysis threats. SWOT analysis - helps a case analyst in generating alternative SCQ framework in case analysis solutions to the case problem. 1. Situation Opportunities and threats - identified from the evaluation of a. Where are we now? the general and task environment should be identifiedand b. Where do we want to go? analyzed. c. What is the background everybody agrees on? a. Opportunities – elements or developments in the 2. Complication external environment that help the company increase its a. What is stopping us from getting there? competitive edge and positively impact on a company b. What is unsatisfactory in this situation? b. Threats – elements or developments in the external c. What would be satisfactory instead? environment that serve as barriers for a company to increase its competitive edge and negatively impact on 3. Question the company a. What is the key question on our minds? Strengths and weaknesses - are identified by analyzing the internal environment of the org a. Strengths - Characteristics of the company that increase Guidelines for case preparation its competitive edge 1. Have a general feel of the whole case. Read and b. Weaknesses - Characteristics of the company that determine what you can get from: decreases its competitive edge a. The title and headings b. Introductory paragraphs SO Strategies - strategies that make use of strengths to take c. Concluding paragraphs advantage of opportunities d. Charts, graphs, appendices ST Strategies - strategies that make use of strengths in order to 2. Get a feel of the overall situation and determine the counteract threaths problems and possible solutions. WO Strategies - strategies that make us of opportunities to a. What is the case asking you to figure out? overcome weaknesses b. What are the possible options to solve the WT Strategies - strategies aimed at overcoming both threats problem? and weaknesses c. What criteria should be used in evaluating the options? Making your decision and formulating your d. Which option would you choose? recommendations Choose the best alternative and explain rationale for the choice  Design the implementation plan o Outline specific actions that have to be conducted to implement the chosen alternative o Address who will do what, when, where and how. Contingency Plan Contingency - the next best alternative and answers the question, “In case of failure of the best option, what is the next best option to take?” Contingency planning - requires identification, analysis and suggested solutions for the potential problems that the company may face in the implementation of the decision