Professional Documents
Culture Documents
TABLE OF CONTENTS
Sr. No. Name Roll No. Roll No.
(Old) (New)
1 Ganesh Aushikar 003 20-S-031
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 204,205)
Management by James Stoner, R. Edward Freeman, Daniel R. Gilbert, (Page 11 )
Goals
❏ Why Goals are important
❏ Goals provide a sense of direction
❏ Goals focus our efforts
❏ Goals guide our plans and decisions
❏ Goals help us evaluate our progress
❏ Types of Goals
❏ Financial Goals
❏ Related to the expected internal financial performance of the organization.
❏ Strategic Goals
❏ Related to the all-other areas of an organization’s performance.
Reference - Management by James Stoner, R. Edward Freeman, Daniel R. Gilbert, – (Page 236, 237 )
Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 206)
Plans
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 207)
Foundation
of Planning
Part : 2
- Shubham Sisodia (106/ 20-S-136)
Characteristic of Well-Designed Goals
❏ Written in terms of outcomes rather than actions
❏ Measurable and quantifiable
❏ Clear as to a time frame
❏ Challenging yet attainable
❏ Written down
❏ Communicated to all necessary organizational members
Reference -Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 210)
Steps in Goal Setting
❏ Review the organization’s mission statement.
❏ Evaluate available resources.
❏ Determine goals individually or with others.
❏ Write down the goals and communicate them.
❏ Review results and whether goals are being met.
Reference -Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 210, 211 )
Developing Plans
The process of developing plans is influenced by three contingency factors and by the planning approach followed.
Reference -Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 211 )
Approaches to planning
❏ Establishing a formal planning department
❏ A group of planning specialists who help managers write organizational plans
❏ Planning is a function of management; it should never become the sole responsibility of
planners
❏ Involving organizational members in the process
❏ Plans are developed by members of organizational units at various levels and then
coordinated with other units across the organization
Reference -Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 212)
Managers as
Decision makers
Part : 1
- Sneha Rathi (089/20-S-110)
Managers as Decision makers
Decision-making – is defined as the selection of a course of action from among
alternatives; it is at the core of planning
Until that point, there are only planning studies and analyses
Reference – Essentials of management by Harold Koontz and Heinz Weihrich page 135
The Decision Making Process
Step 1 Identifying a problem
Step 2 Identifying Decision Criteria
Step 3 Allocating weights to the criteria
Step 4 Developing alternatives
Step 5 Analysing Alternatives
Step
Step 6
6 Selecting an alternative
Step 7 Implementing the Alternative
Step 8
Evaluating Decision Effectiveness
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 179-182)
Structured Problems and Programmed Decisions
Structured Problems - The decision maker’s goal is clear, the problem is familiar, and
information about the problem is easily defined and complete.
Programmed Decisions - A repetitive decision that can be handled by a routine
approach.
Types of • Procedure
Programmed • Rule
Decisions • Policy
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 185-187)
Unstructured problems and Non programmed decisions
Unstructured problems are problems that are new or unusual and for which
information is ambiguous or incomplete.
Nonprogrammed decisions are unique and novel, and they often involve issues of
grave importance to the company.
Nonprogrammed decisions tend to require intuition, creativity, and judgment and all
the information that the manager can muster.
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 185-187)
Managing NOW! By Gary Dessler and Jean Phillips (Page 145-148)
Managers as
Decision makers
Part : 2
- Karan Lokare (055/20-S-064)
Decision making conditions
Certainty
• The ideal situation for making decisions is one of certainty, which is a situation
where a manager can make accurate decisions because the outcome of every
alternative is known
Risk
• Under risk, managers have historical data from past personal experiences or
secondary information that lets them assign probabilities to different alternatives
Uncertainty
• The choice of alternative is influenced by the limited amount of available information
and by the psychological orientation of the decision maker
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 187-189)
Approaches in Decision making
❏ Rationality
❏ Bounded Rationality
❏ The role of intuition
❏ Evidence-based management
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 182-185)
Decision Making Styles
❏ Linear thinking style
❏ External Information
❏ Logical thinking
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 190&191)
Effective Decision Making in Today’s World
❏ Understand Cultural Differences
❏ Know when it’s time to quit
❏ Use an effective decision making process
❏ Learn to spot the unexpected and quickly adapt
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 192-194)
Strategic
Management
Part : 1
- Nikit Dhuppad (020/20-S-025)
Stages Of Strategic Management
Strategy Formulation
Developing a vision and mission
Strategy Implementation
Establish annual objectives, devise policies, motivate employees and allocate resources
Strategy Evaluation
Evaluating strategy is the final stage of Strategic Management
Reference- Strategic Management - Concepts and Cases - A Competitive Advantage Approach by Fred
R. David (Page 33,34,35), Management by Robins 11th Edition (Page 227, 228)
Types of Strategies
Reference- Strategic Management - Concepts and Cases - A Competitive Advantage Approach by Fred R. David
(Page 125-134), Strategic management formulation implementation and control in a dynamic environment by
Abbas F. Alkhafaji (Page 99-108)
Levels of Strategies
Reference: 1. Strategic Management & Business Policy by Thomas L. Wheelen & J. David Hunger – Pgs.: 14 – 23;
2. Management 11th edition by Stephen P. Robbins & Mary Coulter – Pgs.: 226 - 228
Environmetal Scanning
External Analyses Internal Analyses
• Natural Environment: Physical Resources, Wildlife, • Structure: Chain of Command
Climate • Culture: Beliefs, Expectations, Values
• Societal Environment: Economic, Technological, • Resources: Assets, Skills, Competencies, Knowledge
Political – Legal & Sociocultural Forces
Bases on internal analyses managers identify -
• Task Environment (Industry): Shareholders,
Suppliers, Employees/Unions, Competitors, Trade Strengths – Activities the organization does well or
Associations, Communities, Creditors, Customers, unique resources
Special Interest Groups, Governments Weaknesses – Activities the organization doesn’t do well
Managers pinpoints opportunities (positive trends) & or resources it needs but doesn’t possess
threats (negative trends)
S.W.O.T. Analysis
Reference : 1. Strategic Management & Business Policy by Thomas L. Wheelen & J. David Hunger – Pgs.: 14 – 23;
2. Management by Stephen P. Robbins & Mary Coulter – Pgs.: 226 - 228
Effective Strategic Planning
Lorange and Vancil suggested 5 fundamental characteristics necessary to achieve effective strategy
planning
Reference: 3. Strategic Management for Public & Nonprofit Organizations by Alan Walter Steiss – Pgs. 51,52
Strategic
Management
Part : 3
- Nirnita Nyahatkar (072/20-S-087)
Social Responsibilities of strategic decision makers
Milton Friedman and Archie Carroll offer two contrasting views
“There is one and only one social responsibility of business—to use its resources and
engage in activities designed to increase its profits so long as it stays within the rules of the
game, which is to say, engages in open and free competition without deception or fraud.”
References: Strategic Management and Business Policy Globalization, Innovation and Sustainability, Thomas L. Wheelen (Pg. no. 104)
Archie Carroll proposed that the managers of business organizations have four responsibilities as follows in
order of priority:
in a society
References: Strategic Management and Business Policy Globalization, Innovation and Sustainability by Thomas L. Wheelen (Pg. no. 105, 106)
Reasons why companies should strategically devote time
and resources to social responsibility initiatives
A strong, visible social responsibility strategy gives a company an edge in differentiating itself from rivals
and in appealing to those consumers who prefer to do business with companies that are good corporate
citizens.
References:
1. Essentials Of Strategic Management: The Quest For Competitive Advantage by John E. Gamble (Pg. no. 194, 195)
2. Strategic Management and Business Policy Globalization, Innovation and Sustainability by Thomas L. Wheelen (Pg. no. 107)
Planning
tools and
techniques
Part : 1
- Ketan Parmar (145/20-S-092)
Planning tools and techniques
❏ Environmental Scanning
The process of conducting research, gathering and assimilating external information
about opportunities and threats is called environmental scanning
❏ Competitor Intelligence
❏ Global Scanning
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 248-249)
Planning tools and techniques
❏ Forecasting
Process of predicting future outcomes based on past and present data and most
commonly by analysis of trends.
❏ Quantitative techniques
Eg: Time series analysis, Regression models, Econometric models,
Economic indicators and Substitution effect
❏ Qualitative techniques
Eg: Jury of opinion, Salesforce composition and Customer evaluation
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 250-251)
Planning tools and techniques
❏ Benchmarking
The search for the best practices among competitors or noncompetitors that lead
to their superior performance
Step 1 Step 2
Form a benchmarking Gather external and
planning team internal data
Step 3 Step 4
Identify:
● What is to be benchmarked? Analyze data to identify Prepare and implement
● Comparative Organizations performance gaps action plan
● Data Collection Models
Exhibit: Steps in Benchmarking
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 241-252)
Planning
tools and
techniques
Part : 2
- Vineet Apte (124/20-S-003)
Planning tools and techniques
❏ Budgeting
❏ A budget is a numerical plan for allocating resources to specific activities
Profit Budget
Expense Budget
Combines revenue and expense
Lists primary activities and
budgets of various units to
allocates dollar amount to
determine each unit’s profit
each
contribution
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 252)
Planning tools and techniques
❏ Scheduling
❏ Detailing what activities have to be done, the order in which they are to
be completed, who is to do each, and when they are to be completed
❏ Examples: Gantt Charts, Load Charts, and PERT Network
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 253-254)
Planning tools and techniques
Breakeven Analysis
❏ Breakeven analysis is a widely used resource
allocation technique to help managers determine
breakeven point
❏ Formula: TFC/P – VC
(TFC – Total Fixed Cost; P – Unit price of the product
being sold; VC – Variable cost per unit)
Reference - Management 11th Edition by Stephen P. Robbins and Mary Coulter (Page 256)
Planning tools and techniques
❏ SWOT Analysis
❏ Strategists analyze the elements within the internal and external environments
in search of relevant strategic information
❏ The resultant findings are classified as organizational strengths, weaknesses,
opportunities, and threats (SWOTs)
❏ The SWOT analysis becomes the premise upon which strategic objectives are
determined and strategies formulated
Reference - Strategic Management: Formulation, Implementation, and Control in a Dynamic Environment by Abbas
F. Alkhafaji, PhD (Page 60)
EXPERT TALK
Mr. Praveen Karchalkar
Operations Manager,
Amazon India
Questions Asked
What are the key factors taken into consideration while setting up goals ?
What all steps did you consider to strengthen your e-commerce operations strategy in this dynamic
environment ?
Which are the tools & techniques that aid managers in the effective planning of a project ?
What are the common issues faced when attempting to meet targets in a short span of time?
If you were in charge of strategic planning for your organization, what changes would you make?
Setting of goals and expectations for every employee is not uniform and it depends on
the kind of employees and their attitude
To highly motivated employees, high or ambitious goals can be an opportunity to rise
up to the challenge and perform well and achieving these goals keeps them motivated
and improves their confidence and job satisfaction
If employees won’t be having any goal, he won’t be able to give their best. In this case,
it is important to break down the larger goal into smaller achievable task.
When individual goals are linked to organizational goals, it promotes teamwork. The
managers must let every employee know how their goal is linked to the organization’s
goal. The employee will understand the importance of teamwork once they know how
they fit in the overall organizational goal and how their goal is linked to their peers
2. What are the key factors taken into consideration while setting up goals ?
There are Controllable & Uncontrollable factors while achieving any target
Few Controllable factors are-
i. Use tools where we are not using any
ii. Find if there were any technical issues and address them immediately
iii. Constantly review the issues and correct what was not working
Few Uncontrollable factors are-
i. Issues related to data usage
ii. Unable to achieve the desired CSAT or DSAT score
iii. Difficulty in predicting how customers view their business and model
6. If you were in charge of strategic planning for your organization, what changes would you make?
I would refer to India’s model on third party sellers while introducing it in some other
country as we have introduced such a model in India first
7. How important is taking feedback while executing a plan?
❏ Allocation of drugs is a complex process and it became more difficult for the doctors and nurses, to
understand all those drugs. Medication errors took place when wrong drug doses were given to the
patients as the number of drugs increased. This led to the death of three patients due to the
consumption of wrong and look-alike drugs
❏ After a pandemic struck, as the number of patients entering the hospital increased, they had to operate
at their full capacity and since they weren’t prepared for this, there was panic and chaos in the hospital.
It wasn’t possible to provide personal attention to the patients who were fighting serious diseases
❏ They tried to start their operations digitally and conduct online consultations, but their systems crashed
and they weren’t able to sustain the pressure
1. How could the management have planned the drugs allocation
process and prevented the loss of patients’ lives?
2. How could Cydus Health Group have avoided their downfall by
using strategic management ?
3. What lessons about decision making can managers learn from
this upheaval that Cydus Health Group went through ?
4. What measures should Cydus Health Group take to regain their
position in the industry ?