TNCT-3QE Reviewer PDF

TNCT – REVIEWER Early Majority - They belong to the mass that critically ensures adoption. They look for productivity and practical TRENDS – a sequential pattern of c...

TNCT – REVIEWER Early Majority - They belong to the mass that critically ensures adoption. They look for productivity and practical TRENDS – a sequential pattern of change in a condition, output, benefits more than coolness or reputation. or process, or an average or general tendency of a Late Majority - The same to early majority, they critically ensure series of data points to move in a certain direction over the adaptation process. They are somewhat similar to time, represented by a line or curve on a graph. early majority but also expect a lot of help and support before they are willing to commit. PROCESS OF IDENTIFYING A TREND: Laggards - As the term implies, slow to adaptation. They are Trend Analysis - is the widespread practice of collecting most resistant to change and do so only when forced information and attempting to spot a pattern, or to adopt because everyone else has. In other word, trend, in the information. they have no choice if urgency requires them to do so. Trend Spotting - is the identification of new trends or attempting to see the future. STRATEGIC ANALYSIS - refers to the process of conducting Trend Spotter - is a person who notices and reports on new research on a company and its operating environment fashions, ideas, or activities that are becoming popular. to formulate a strategy. 6 ELEMENTS AND CHARACTERISTICS OF A STRATEGY - a plan of actions taken by executives to accomplish TREND: the ultimate aim of the organization and other Appeal - degree of attraction that a fad or a trend subsidiary objectives. causes/attractive on people. Result - pertains to the impact of fad or trend; ability to produce INTUITIVE THINKING - simply the kind of thinking that, without a sustainable movement or change. reasoning or analysis, helps you perceive truth at the Scope - extend of influence of a fad or trend. moment. Support - structure that enables a fad or trend to be sustainable. Sustainability - length of time that a fad or trend can continue FOUR TYPES OF INTUITIVE THINKING: to exist. Emotional Intuitive Thinking - This has to do with the ability to Value - utility or usefulness that can be derived from a fad or a pick up on the character types or emotional states of trend. other people instantly. Without them having to say something, you can see who they are, or who they are. FAD - an intense and widely shared enthusiasm for something, (Empaths) especially one that is short-lived and without basis in Mental Intuitive Thinking - This is about seeking an immediate the object's qualities; a craze. response, without examining it, to a query. It is very common for people with jobs, such as firefighters or PATTERN - a consistent and recurring characteristic or trait that bomb technicians, that require fast decisions. helps in the identification of a phenomenon or Psychic Intuitive Thinking - This means having the opportunity, problem and serves as an indicator or model for without putting much mental effort into it, to choose predicting its future behavior. the best way to solve a personal challenge. It also implies being able to pick up on dynamics linked to EMERGING PATTERNS social and job. Data patterns of trends can be classified as: Spiritual Intuitive Thinking - It has to do with "enlightenment" Linear - It follows a straight line in graphical presentation which or "revelations" states. They are just an experience could indicate an upward or downward direction. rather than a reality. Buddhists speak more than Exponential - It is a trend represented by a line that that may anybody else about this kind of insight, which has rise or fall shortly at a given time unsteadily; data given it a mystical quality. change overtime caused by different factors that may affect progression. ELEMENTS OF STRATEGIC THINKING Damped - This shows that values rise and fall initially and then Systems Perspective - have a good view of the structure or stop the rise and fall for some time and then rise or fall situation again. Intent-Focused – aka ‘the zone’, a heightened state of mental focus based on a specific purpose or intent. MACRO-TREND – a large-scale, sustained shift thus, it Intelligent Opportunism - one should also be prepared and able continuously evolved. to adapt to new developments and exploit new opportunities. MICRO-TREND – small trends that exist under the umbrella of a Thinking in Time - basically applying knowledge of the past to macro-trend. the present in order to assure success in the future. Hypothesis-Driven - When you execute your strategy, you are CAUSE - a reason for an action or condition, and or something also finding out if your understanding or assumption that brings about an effect or a result. is correct. CONSEQUENCE - something that is produced by a cause or The S.M.A.R.T. Criteria necessarily following from a set of condition. S.M.A.R.T. is a set of criteria that is used as a guide for setting goals. Each letter in the word SMART stands for an FIVE TYPES OF ADOPTERS individual criterion. Innovators - They adopt something simply because it is new. S – Specific. A goal must be specific. The rest of the They love exploring for the sake of pleasure or S.M.A.R.T. criteria depend on this. exploring and are willing to take risks, even if those M – Measurable. You need to have a way to measure risks result in failure. success. This way, you will know if you have already Early Adopters - They are often opinion leaders. Similar to achieved your goal. innovators, they adopt quickly. But they are more A – Attainable. Consider your capabilities and the concerned about the coolness factor and maintaining resources that are available to you. Will they allow you their reputations as being ahead of the curve on new to achieve your goal? If not, then you can set a smaller, ideas. more attainable goal. Once that goal is accomplished,  then set another one and work your way towards a Elements of Globalization bigger achievement. Globalization can be considered a process: a lengthy and often R – Relevant. Ask yourself why you want to accomplish times complex process in which movement in one this goal. Is it relevant to your life? Will the reward be direction or the other is estimated by porous beneficial to you? This will help you prioritize multiple boundaries, shifting alliances, and seemingly goals. contradictory patterns. T – Time-based. Make sure that your goal is time- Trade Agreements. Bilateral, regional, or multilateral bound by adding a deadline or a timetable. economic arrangements designed to reduce or eliminate trade barriers. S.W.O.T. Analysis Capital Flow. Measurement of an increase or decrease S.W.O.T. analysis is a method that is used to help create in a nation’s domestic or foreign assets. effective strategies. It is widely used by businesses, but Migration Patterns. Impact of labor market fluidity on you can also use it for your personal goals. SWOT production costs through the loss (emigration) or gain analysis works by identifying four key factors. These (immigration) of potential workers, especially those factors are divided into two categories: internal and with particular skills. external. The main difference is that internal factors Information Transfer. Communication trends that are things that you have control over while external help mitigate the asymmetric functioning of markets factors are out of your control. It should be specific and economies. and avoid grey areas. Spread of Technology. Rapid dispersion of the means and methods of producing goods and services. Trends in Globalization There are several major trends pertaining to globalization, which consist of: demographic, scientific, governance, economic interdependence. Population trends. Decreasing population in developed countries, while increasing population in developing countries, and increased life expectancy Science and technology. Includes the Internet and other computer components as well as GPS, genetically modified food, etc. Increasing integration and interdependence. Includes all areas of economic life as well as an increasing exchange of products and services across national borders through trade. Governance. How national and international laws govern the economic activity and transnational institutions. Characteristics Of Globalization Increasing space. P.E.S.T. Analysis Strengthening borders. P.E.S.T. analysis is a scan of the external macro-environment in Shrinking time. which an organization exists. Free Trade. Political factors. These include government Liberalization. regulations such as employment laws, environmental Connectivity. regulations, and tax policy. Other political factors are Economic globalization. trade restrictions and political stability. Cultural globalization. Economic factors. These affect the cost of capital and Political globalization. purchasing power of an organization. Economic Opportunity. factors include economic growth, interest rates, Learning. inflation, and currency exchange rates. Product Advantage. Social factors. These impact on the consumer’s need and the potential market size for an organization’s International Trade - refers to the exchange of capital, goods, goods and services. Social factors include population and services between entities from different countries. growth, age demographics and attitudes towards health. Custom and Tradition - practices that are observed by Technological factors. These influence barriers to members of a group and are passed down from one generation entry, make or buy decisions and investment in to the next. innovation, such as automation, investment incentives and the rate of technological change. Hypothesis - an assumption or an informed guess that is based on gathered information. Social Organization - is the structure of the relationships between members of a society. Economic Globalization - enables countries, business entities, and consumers from different parts of the world to trade with each other.