Professional Documents
Culture Documents
Being aware of opportunities: This means being aware of the customer needs,
market, competition, our strengths, and weaknesses. This is done through market
research, competitor analysis and SWOT analysis.
Establishing objectives: This implies establishing what we want to be and what we
want to accomplish and when and in relation to which market segment.
Developing premises:
This means deciding on the external and internal
environment in which our plans are going to operate. The external analysis is done
through a process called PEST analysis.
Determining alternative courses: Identifying the most promising alternatives to
accomplish what we want to do is done by combining the information about the
opportunities, threats, and own strength and weakness. This is done through TOWS
matrix.
Evaluating alternative courses: Comparing the alternatives to find out which of
them will meet the goal at optimal cost and profit.
Selecting a Course: Selecting the course that we want to follow.
Formulating plans: This implies making plans that support the course of action by
buying equipment, space, planning the type of HR, etc.
Qualifying plans by budgeting: Identifying the cost involved, how the financial
resources will be mobilized, what is capital expenditure, what is operational
expenditure, the working capital etc.
sincere work will be more vocal against an employee who is having a very
casual approach towards work.
Laissez Faire
Allows followers free rein to set
their own goals.
Engages
in
noncommittal,
superficial communication.
Avoids discussion with followers to
set policy and procedures.
Avoids interaction
Democratic
Involves followers in setting
goals.
Communication
Engages in two-way, open
communication.
Discussion
Facilitates
discussion
with
followers.
Interaction
Focus on interaction. Solicits
input regarding determination of
policy and procedures.
Suggestion
Provides
suggestions
and Provides
suggestions
and
alternatives for the completion of alternatives for the completion of
tasks only when asked to do so by tasks.
followers.
Feedback
Provides infrequent feedback off Provides
frequent
positive
any kind.
feedback.
Rewards
& Avoids
offering
rewards
or Rewards good work and uses
punishment
punishment.
punishment only as a last resort.
Listening skills
May exhibit either poor or effective Exhibits effective listening skills.
listening skills.
Conflict
management
Avoids conflict.