BUS 201 Lecture Notes - Lecture 8: Swot Analysis, Crisis Management, Satisficing

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 201
• Professor: Peter Tingling

Document Summary

"nothing is more difficult, and therefore more precious, than to be able to decide. " Management: people who plan organize lead and control the operations of an organization, all business depend on effective management. Basic skills: technical skills, human relation skills, conceptual skills, time management skills, decision making skills. Areas of management: human resources manager, operations manager. Identify the problem/opportunity: choose the best decision process, develop alternative solutions, choose the best alternative, evaluate decision outcomes. Herbert simon says that we want to be rational, but we can"t look at every choice. Four simplifying assumptions: he sample frame is human, geography is irrelevant, age is evenly distributed but we have a +/- 5 year age preference, we are working with half of the sample frame. Set strategic goals: analyze the organization/environment, match the organization and its environment. Corporate - level strategies: concentration, growth, diversification. Corporate culture: the shared experiences, stories, beliefs and norms that characterize a firm.