Evaluation Week 2 | Quizalize

MATHEMATICS 2_ QUARTER 1_WEEK 1_EVALUATION

Why and How Managers Plan Importance of planning The planing process Benefits of planning Planning and time management Types of PLans used by managers Long term and short term plans Strageic and tactical plans Operational plans Planning Tools and Techiqunes Forecasting Contrigency planning Scenario planning Benchmaking Use of staff planners Implementing Plans to Achive Results Goal setting Goal management Goal alignment Participation and involvement Planning Def: The process of setting objectives and determining how best to accomplish them Planning at Eaton Corporation “Making the hard decision before events force them upon you, an anticipating the future needs of the market before the demand asset itself Objectives and goals Identifity the specific results or desired outcomes that one intends to achieve Plan Def: A statement of action steps to be taken in order to accomplish the objectives (goals) Steps in the planning process: Define your objectives Determine where you stand vis-a-vis objectives Develpo premises reagrdsing future conditions Analyze alternatives and make a plan Implement the plan and evaluate results What are the benefits of planning Improves focus and flexibility Imporves action orteitation Imporves coordination and control Imporves time management Time Managment Personal time management tips Do say “no” to request that distract you form what you should be doing Dont get bogged down inn details that can be addressed later Do screen telephone calls, emails and meeting request Dont let drop in visitors, text messaging use up your time Do prioritize your important and urgent work Dont become calendar bound by letting other control your schedule Do follow priorities; do most important and urgent work first Some 77% of mangers in one survey said that digital age has increased th number of decisions they have to make 43% said there was less time available to make these decisions Types of plans used by Managers What is teh time horizon Long term vs Short term Long term Look three or more years into teh future Short term plans Typically cover one year or less However: the increasing environmental complexity and dynamism of recent years has severely tested the concept of “long-term” planning Plans are subject to frequent revisions Most executives would likely agree that these complexities adn uncertainties challenge how er actually go about planning and how far ahead we can really plan At the very least we can conclude that there is a lot less permanency to long term plans today and that tey are subject to frequent revision Managment reaeracher Eillot Jaques believes tha people vary in their capability to think with different time horizons Types of Plans used by Managers (3 of 5) Strategic plans Set broad, comprehensive and linger term action directions for teh entire organization or major division Vision Clarifies purpose of the organization and what it hopes to be on the future Typical plans Specify how the organizations resources are used to implement strategy Tactical plans in business often take the form of functional plans Functional plans Incidate how different component within the organiztion will help accompnlish the overall strategy Production plans Finacial plans Facilites Plans Logisitc plans Marketing plans Human Resource Plans Operation plans Describe short-term activities to implement strategic plans Policies: Are standing plans that communicate guidelines for decisions Ex: Policies on office romances: The media is quick to report when a top executive or public figures runs into trouble over an office affair. Are there ant policies on office romances? Employer polices on office raltioshiis vary. One survey find teh following: 24% prohibit relationships among employees in the same department 13% prohibit relationships among employees who have the smae supervisor 80% prohibit relationships between supervisors and subordinates 5% have no restrictions on office romances Procedures: Are rules that describe actions to be taken in specific situations Budgets: are single use plans that commit resources to projects or activities Zero based budgets: allocate resources as if each budget were brand new There is no guarantee that any past funding will be renwer. All propsales, old and new, must compete for available funds at teh start of each new budget cycle Forcasting Attempts to predict the future Qualitaive forecasting uses expert opinions Quantitative forecasting uses mathematical models and statiscal aanylsis of historical data dna surveys Contingency planning Identify alternative course of action to take when things go wrong Anticipate changing conditions Contain trigger points to indicate when to activate plan (or a specific course of action) Scenario planning A long term version of contingency planning Identifying alternative future scenarios Plans made for each future scenario Increases organizations flexibility and preparation for future shocks Benchmarking Use of external and internal comparisons to better evaluate current performance Adopting best practices: things people adn organization do that lead to superior performance Staff Planners Experts who assist in all steps of the planning process They help bring focus and expertise to a wide variety of planning tasks Important: Communication between staff planers landline managers is essential for teh success of teh planning process Goal Setting - Always set SMART goal The solution: Goal Aligment Between Team Leader and Team Member Jonintly plan: Set objectives, set standards, choose actions Individually acy: Perform tasks (member), provide support (leader) Jointly control: Review results, discuss implications, renew cycle x4 Collective effort and commitment Participatroy planning Includes in all planning steps that people who will be affected by the plans adn askedd to help implement them Unloacks motivational potential of goal setting Management by objective (MBO) promotes participation Participation increases understanding and acceptance of plan and commitment to success Participatory planning - Number of people involved in teh decision making process Amazon is intensely focused on what it does. It believes in creating tight single-threaded teams, also known as “2 pizza team.” Data and Decision Making What are some of the important competencies managers must have today? Delegate Marketing and technology Manager must have Technological competency Ability to understand new technologies and to use them to their best advantage Information competency Ability to locate, gather, organize and display information for decision-making and problem solving Analytical competency Ability to evaluate and analyze information to make actual decisions and solve real problems What is the difference between Data and Information Data Raw facts and observation Information Data made useful and meaningful for decision-making Important concepts Big data Exists in huge quantities and is difficult to process without sophisticated mathematical and analytical techniques Data production today Bernard Marr is an internationally best-selling author. He helps organizations improve their business performance, use data more intelligently Data mining The process of analyzing data to produce useful information for decision-makers Management Analytics The systematic evaluation and analysis of data to make informed decision Information drives management Bad Data Refers to information that can be erroneous, misleading, and without general formatting The challenge: Can er use the data that is available in the “Big Data” Needs to be valid Can not trust everything out there Being ethical Look at the trends Data is structured and unstructured Data BIg Data = Structured + Unstructured Information Drive Management decision making What are the characteristics of useful information Easy to access If its credible Accurate Characteristics of useful information: Timely High quality Complete Relevant Understandable What about bad data It's not credible Miss information If it is not structured/ organized Bias based on opinions Confusing If its updated Bad data Refers to information that can be erroneous miss What are some examples of Management information system Business intelligence -BI Information systems to extract and report data in organized ways that are useful to decision-makers Executive dashboards Visually update and display key performance metrics (or Key Performance Indicators -KPIs) and information on a real-time basis Information needs in organization External Environment Information exchanges with the external environment Gather intelligence information Provide public information Information needs within the organizations (internal Enviroement) Information exchange within the organization Facilitate decision making Facilitate problem-solving Managers as information processors Continually gather, share and receive information Now as much electronic as it is face-to-face Always on, always connected How many people telecommute at least once a week 70% of people globally work remotely at least once a week, Work at home after covid 19 our forecast Our best estimate it that 25-30% of the workforce will be working form home multiple days a week by the end of 2021 As of 2023, 12.7% of full time employees work from home, while 28.2% work a hybrid model Managers as problem solvers Problem-solving The process of identifying a discrepancy between actual and desired performance and taking action to resolve it Ishikawa Fishbone diagram To identify the cause of problems Decision A choice among possible alternative courses of action Performance threat Something is wrong or has the potential to go wrong Performance opportunity The situation offers the chance for a better future if the right steps are taken Problem-solving approaches or style - from textbook Problem avoiders Inactive in information gathering and solving problems Problem seekers Proactive in anticipation of problems and opportunities and taking appropriate action to gain an advantage Problem solvers Reactive in gathering information and solving problem Managers - can approach problems in a systematic or intuitive manner Systematic thinking approaches problem in rational, step-by-step and analytical fashion Intuitive thinking approaches problems in a flexible and spontaneous fashion Multidimensional thinking- applies both intuitive and systematic thinking Managers face structured and unstructured problems Structure problems Are ones that are familiar, straight forward, and clear with respect to information needs Program decisions apply solutions that are readily available from past experiences to solve structured problems Know how to solve them Familiar Know what we are dealing with Unstructured problems Are ones that are full of ambiguities and information deficiencies Nonprogrammed decisions apply a specific solution to meet the demands of a unique problem Commonly faced by higher-level management Crisis decision making A crisis involves an unexpected problem that can lead to disaster if not resolved quickly and appropriately Ruled for crisis management Figure out what is going on Remember that speed matters Remember that slow counts, too Respect the danger of the unfamiliar Value the skeptic Be ready to “fight fire with fire” Managers make decisions with various amounts of information Certain environment Offers complete information on possible action alternatives and their consequences Risk environment Lacks complete information but offers probabilities of the likely outcomes for possible action alternatives Uncertain environment Lacks so much information that it is difficult to assign probabilities to the likely outcomes of alternative Ex: Certain and uncertain environments: The worldwide Governance Indicators for over 200 countries, comparing distinct environments (Canada-Brazil) Step 1-Identify and define the problem Focuses on information gathering information processing and deliberation Decision objectives should be established What are some common mistakes in definding problems? Common mistakes in defining problems Defining the problem too broadly or too narrowly Focusing on symptoms instead of causes Choosing the wrong problem to deal with Step 2- Generate and Evaluate Alternative Courses of Action Potential solutions are formulated and more information is gathered, data are analyzed, the advantages and disadvantages of alternative solutions are identified Common mistakes: Abandoning the search for alternatives too quickly Step 3- Decide on a preferred course of Action Two different approaches Behavioural model leads to satisficing decisions Classical model les to optimising decisions Behavioural Model Rationality is bounded because: There are limits our thinks capacity Available information (incomplete) Time constraints Step 4-Implement the decision Involves taking action to make sure the solution decided upon becomes a reality Managers need to have the willingness and ability to implement action plans Problems: Lack of participation error should be avoided Step 5 - Evaluate Results Involves comparing actual and desired results The positive and negative consequences of the chosen course of action should be examined If actual results fall short desire results, the manager returns to earlier steps in the decision-making process At all steps, check ethical reasoning Ask these spotlight questions Utility Does teh decision satisfy all constituents or stakeholders Rights Does the description respect the rights and duties of everyone? Justice Is the decision consistent with the canons of justice Caring Is the decision consistent with my responsibilities to care? Issues in decision-making How do errors happen? Heuristics: are strategies for simplifying decision-making Availability Bias: Bases a decision on recent information or events Representativeness bias: Bases a decision on similarity to other situations Anchoring and Adjustment Bias: Bases a decision on incremental adjustment from a prior decision point Framing error: Tring to solve a problem in the context perceived, positive or negative Confirmation Error: Focusing on information that confirms a decision already made Escalating commitment: Continuing a course of action even though it is not working Creative Decision making Creativity is the generation of a novel idea or unique approach that solves a problem or crafts an opportunity Big C: Creativity occurs when extraordinary things are done by exceptional people Little C: Creativity occurs when average people come up with unique ways to deal with daily events and situations The three types of situational creativity drivers Chapter review What are objectives and goals? The specific results or desired outcomes What are the 5 characteristics of great (SMART) goals? Forecasting - Attempts Qualitative forecasting uses options Quantitative forecasting uses mathematical models and statistical analysis of historical data and surveys Scenarios-Oracle’s crystal ball combines qualitative and quantitative methods

Translator: Joseph Geni Reviewer: Morton Bast Before March, 2011, I was a photographic retoucher based in New York City. We're pale, gray creatures. We hide in dark, windowless rooms, and generally avoid sunlight. We make skinny models skinnier, perfect skin more perfect, and the impossible possible, and we get criticized in the press all the time, but some of us are actually talented artists with years of experience and a real appreciation for images and photography. On March 11, 2011, I watched from home, as the rest of the world did, as the tragic events unfolded in Japan. Soon after, an organization I volunteer with, All Hands Volunteers, were on the ground, within days, working as part of the response efforts. I, along with hundreds of other volunteers, knew we couldn't just sit at home, so I decided to join them for three weeks. On May the 13th, I made my way to the town of Ōfunato. It's a small fishing town in Iwate Prefecture, about 50,000 people, one of the first that was hit by the wave. The waters here have been recorded at reaching over 24 meters in height, and traveled over two miles inland. As you can imagine, the town had been devastated. We pulled debris from canals and ditches. We cleaned schools. We de-mudded and gutted homes ready for renovation and rehabilitation. We cleared tons and tons of stinking, rotting fish carcasses from the local fish processing plant. We got dirty, and we loved it. For weeks, all the volunteers and locals alike had been finding similar things. They'd been finding photos and photo albums and cameras and SD cards. And everyone was doing the same. They were collecting them up, and handing them in to various places around the different towns for safekeeping. Now, it wasn't until this point that I realized that these photos were such a huge part of the personal loss these people had felt. As they had run from the wave, and for their lives, absolutely everything they had, everything had to be left behind. At the end of my first week there, I found myself helping out in an evacuation center in the town. I was helping clean the onsen, the communal onsen, the huge giant bathtubs. This happened to also be a place in the town where the evacuation center was collecting the photos. This is where people were handing them in, and I was honored that day that they actually trusted me to help them start hand-cleaning them. Now, it was emotional and it was inspiring, and I've always heard about thinking outside the box, but it wasn't until I had actually gotten outside of my box that something happened. As I looked through the photos, there were some were over a hundred years old, some still in the envelope from the processing lab, I couldn't help but think as a retoucher that I could fix that tear and mend that scratch, and I knew hundreds of people who could do the same. So that evening, I just reached out on Facebook and asked a few of them, and by morning the response had been so overwhelming and so positive, I knew we had to give it a go. So we started retouching photos. This was the very first. Not terribly damaged, but where the water had caused that discoloration on the girl's face had to be repaired with such accuracy and delicacy. Otherwise, that little girl isn't going to look like that little girl anymore, and surely that's as tragic as having the photo damaged. (Applause) Over time, more photos came in, thankfully, and more retouchers were needed, and so I reached out again on Facebook and LinkedIn, and within five days, 80 people wanted to help from 12 different countries. Within two weeks, I had 150 people wanting to join in. Within Japan, by July, we'd branched out to the neighboring town of Rikuzentakata, further north to a town called Yamada. Once a week, we would set up our scanning equipment in the temporary photo libraries that had been set up, where people were reclaiming their photos. The older ladies sometimes hadn't seen a scanner before, but within 10 minutes of them finding their lost photo, they could give it to us, have it scanned, uploaded to a cloud server, it would be downloaded by a gaijin, a stranger, somewhere on the other side of the globe, and it'd start being fixed. The time it took, however, to get it back is a completely different story, and it depended obviously on the damage involved. It could take an hour. It could take weeks. It could take months. The kimono in this shot pretty much had to be hand-drawn, or pieced together, picking out the remaining parts of color and detail that the water hadn't damaged. It was very time-consuming. Now, all these photos had been damaged by water, submerged in salt water, covered in bacteria, in sewage, sometimes even in oil, all of which over time is going to continue to damage them, so hand-cleaning them was a huge part of the project. We couldn't retouch the photo unless it was cleaned, dry and reclaimed. Now, we were lucky with our hand-cleaning. We had an amazing local woman who guided us. It's very easy to do more damage to those damaged photos. As my team leader Wynne once said, it's like doing a tattoo on someone. You don't get a chance to mess it up. The lady who brought us these photos was lucky, as far as the photos go. She had started hand-cleaning them herself and stopped when she realized she was doing more damage. She also had duplicates. Areas like her husband and her face, which otherwise would have been completely impossible to fix, we could just put them together in one good photo, and remake the whole photo. When she collected the photos from us, she shared a bit of her story with us. Her photos were found by her husband's colleagues at a local fire department in the debris a long way from where the home had once stood, and they'd recognized him. The day of the tsunami, he'd actually been in charge of making sure the tsunami gates were closed. He had to go towards the water as the sirens sounded. Her two little boys, not so little anymore, but her two boys were both at school, separate schools. One of them got caught up in the water. It took her a week to find them all again and find out that they had all survived. The day I gave her the photos also happened to be her youngest son's 14th birthday. For her, despite all of this, those photos were the perfect gift back to him, something he could look at again, something he remembered from before that wasn't still scarred from that day in March when absolutely everything else in his life had changed or been destroyed. After six months in Japan, 1,100 volunteers had passed through All Hands, hundreds of whom had helped us hand-clean over 135,000 photographs, the large majority — (Applause) — a large majority of which did actually find their home again, importantly. Over five hundred volunteers around the globe helped us get 90 families hundreds of photographs back, fully restored and retouched. During this time, we hadn't really spent more than about a thousand dollars in equipment and materials, most of which was printer inks. We take photos constantly. A photo is a reminder of someone or something, a place, a relationship, a loved one. They're our memory-keepers and our histories, the last thing we would grab and the first thing you'd go back to look for. That's all this project was about, about restoring those little bits of humanity, giving someone that connection back. When a photo like this can be returned to someone like this, it makes a huge difference in the lives of the person receiving it. The project's also made a big difference in the lives of the retouchers. For some of them, it's given them a connection to something bigger, giving something back, using their talents on something other than skinny models and perfect skin. I would like to conclude by reading an email I got from one of them, Cindy, the day I finally got back from Japan after six months. "As I worked, I couldn't help but think about the individuals and the stories represented in the images. One in particular, a photo of women of all ages, from grandmother to little girl, gathered around a baby, struck a chord, because a similar photo from my family, my grandmother and mother, myself, and newborn daughter, hangs on our wall. Across the globe, throughout the ages, our basic needs are just the same, aren't they?" Thank you. (Applause) (Applause)

O1: Describe the evolution of the marketing concept. LO2: Define the term consumer behaviour. LO3: Discuss the factors influencing consumer behaviour. LO4: Discuss consumer behaviour as a field of study. PM: Chapter 1 Theme 2: Consumer Behaviour and Marketing Academic Week: 1-4 LO5: Critically examine consumer behaviour and the marketing mix. LO6: Analyse consumer behaviour within society. LO7: Analyse the consumer behaviour dynamic. LO8: Analyse online consumer behaviour. LO9: Define consumer value. LO10: Discuss the consumer value framework and its components. LO11: Analyse the marketing strategy in relation to consumer value. LO12: Discuss consumer lifetime value. Related Outcomes: MO001 PM: Chapter 1 Theme 3: Consumer misbehaviour PM: Chapter 13 LO13: Define the concept of consumer misbehaviour. LO14: Discuss the various causes of consumer misbehaviour. LO15: Analyse the different forms of consumer misbehaviour. LO16: Discuss the impact of consumer misbehaviour. LO17: Define other-customer failure. LO18: Discuss the various methods of managing consumer misbehaviour.

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