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- 128) Briefly explain the difference between lagging indicators and leading indicators. 129) Explain how business planning helps managers in a firm. 130) Compare and contrast strategic planning and operational planning.Read on or more of these article(s), taking careful notes. Respond in your own words (no direct quotes) in 2-3 sentences each. A. The Cognitive Burden of Poverty. What are some of the cognitive effects of poverty identified in this article? Which cognitive effects of poverty have you observed in yourself or others? How can these be addressed? B. Ariely Redux: Dollars and Sense Explains How We Make Money Mistakes. What is one money mistake described in this article that you have observed in yourself or others? Why do people make this mistake? How can we avoid making this mistake? C. All the human flaws and biases that prevent you from managing money better. Which of the flaws described in the article have you observed in yourself or others? Which flaw is most dangerous? How can we address it?1. The hedgehog concept empowers the company to take advantage of the latest market trends or any new opportunities. TRUE FALSE 2.The Return Driven Strategy framework provides a structure for reviewing and evaluating strategies with the goal of creating long-term sustainable value. TRUE FALSE 3.The Return Driven Strategy framework can facilitate development of performance measures to monitor the performance of strategies as well as assess and manage strategic risks. TRUE FALSE
- Managers as decision makers o Barriers to effective decision making o Individual vs. group decision making Foundations of planning o What is planning? o Why do managers plan? o Planning and performance o Goals and plans o Contemporary issues in planningRead the following text and write short headings for each paragraph. MARKET LEADERS, CHALLENGERS AND FOLLOWERS 1.In most markets there is a definite market leader: the firm with the largest market share. This is often the first company to have entered the field, or at least the first to have succeeded in it. The market leader is frequently able to lead other firms in the introduction of new products, in price changes, in the level or intensity of promotions, and so on.Put this in other words. Analyze, explain and elaborate. The battlefield of business is fierce, and here, knowledge is undeniably power. Predictive analytics dons the mantle of a spy, infiltrating the strategies of rivals. By analyzing market trends and discerning competitors' moves, organizations gain a tactical edge. This invaluable intelligence fuels the formulation of strategies that tilt the balance of competition.
- [shoes) You decide to buy your dad a new pair of shoes for his birthday. To mnake sure you get the perfect pair, you ask him for a decision matrix. He gives you the following (all numerals are on 1-10 scales like those discussed in class): Nike Adidas New Balance Importance Low Price 8. Look 9. 3 2. Comfortability 7. 6. Durability 8. 7. Which brand of shoes should you get for him? O Nike O Adidas O Either Nike or Adidas O New Balance O Importance 6.Distinguish between the optimistic estimate and pessimistic estimate?1. I talk about the need to accept some discomfort. What can lead teams or companies to prefer comfortable marketing ideas so much that they ignore the successful ones? Please explain with an illustrating situation if at all possible.
- 1- We are either overreacting to information or underreacting to information by being conservative. How does this happen? Explain the gambler’s fallacy of focusing on similarities. We have to be rational and slowly change our beliefs. 2-Empty speculation Prepare for potential problems as you are developing the framework. After all this. What does this suggest? different challenges to overcome as you construct the framework. So anything. What does this suggest?1. You have been tasked to increase the company's sales by 50% at the end of the year. To do this, you have planned out a marketing campaign to increase sales through the use of social media advertisements as well as using a sales force to carry out personal selling. Explain the foundations of planning to ensure that your plans are well implemented to achieve the intended results