Management - Take-Home Final Exam Management 2301 Fall 2011...

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Take-Home Final Exam Management 2301 Fall 2011 Ruochen Yang Professor: Erach Munshi
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Ch. 7 Decision Making, Learning, Creativity, and Entrepreneurship Q. 1 A. 1) Bold Decision Making 2) High Individual and Group Creativity 3) Determination against Skepticism 4) Strong cooperating skills Creativity: Creativity gives leaders the ability to see things unforeseeable by others and thus lead followers in new directions. To turn around the company’s fortunes, Jochen Zeitz changed its focus into styles and fashions. I understand that even though constancy is important, we should not concentrate on the ‘dead spot’ when the situation turns apparently stagnant. Decision Making: At first, his experimental product line was queried by industry experts and retailers. However, he didn’t give up his new idea. I learn from this critical point that just with creativity is not enough; we also have to be bold enough to turn our original thoughts into action. The ones who can bare risk and uncertainty are those who can really make full use of their creativities. Entrepreneurship: Jochen Zeitz noticed the favorable chance to satisfy customers’ needs of fashionable products and grabbed it immediately. Moreover, he continued to pursue new opportunities of reinventing traditional products. However, without those brilliant fashion designers, his plan will mostly vanish like soap bubbles. This reminds me that social network is vital as he may have lost these precious opportunities because of the lack of cooperating skills. B. There are several reasons for using programmed decision making at UPS: The nature of its business: The industry is relatively stable, rarely affected by new fashions or changes in customers’ requirements. In this case, there are few unusual opportunities or unexpected threats for non-programmed decision making to be necessary. Past development: Through trial and repeat, experienced drivers have universally acknowledged efficient procedures (e.g. 12-step process) in delivering high-quality customer service. A routine, virtually automatic course of action leads to greater proficiency, fewer accidents and moreover, significantly less time wasted in training beginners. Features of the tasks: Delivery is continual and transitory. There is no time for hesitation and inconstant judgments. Q. 2 <Q. 3 (b)> Recognize the need for a decision: act promptly; hesitation will make the situation worse.
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Generate, assess, and choose among alternatives: 1. Group discussion, customer surveys and market investigation 2. Compliance with laws and ethics, economic feasibility --- which one will have the best financial payoff, practicality --- no threat to the attainment of other organizational goals 3. Application of available information to rank the various alternatives Implement the chosen alternative and learn from feedback: 1. Make subsequent and related decisions: I will assign responsibilities as well as sufficient resources to first-line managers and sales clerks. 2. Learn from past successes or failures: <1> Compare actual results with expectations.
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This note was uploaded on 02/10/2012 for the course MGT 2301 taught by Professor Munshi during the Spring '11 term at St. John's.

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Management - Take-Home Final Exam Management 2301 Fall 2011...

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