Understanding Management
11th Edition
ISBN: 9780357033821
Author: Richard Daft
Publisher: South Western Educational Publishing
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Chapter 5, Problem 5DQ
Summary Introduction
To discuss:
Why and how might a company such as LivingSocial want to use flexible goal setting.
Introduction:
Living Social started with one "daily deal," a $25 voucher for $50 worth of food at a Washington, D.C., area restaurant. Since then, the company has grown at break-neck speed, has 46 million members in 25 countries, and has acquired a dozen companies that offer related deals and services.
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What is an important goal that you have established for your career? Could this goal be improved by applying the SMART goal concept?
suggest TWO strategies to help us in setting an effective goal with examples
SHORT ANSWER
If you were a business owner, which of these goals might you be able to accomplish using the framework of Theory Z or Theories X and Y? Could you use Theory Z to work on one goal and use Theories X and Y to work on another goal, thereby accomplishing two goals with these theories by using a different approach on each of the two goals?
Goal 1: Improve quality of a product or service.
Goal 2: Improve employee collaboration.
Goal 3: Foster decision making skills in the workforce.
Goal 4: Develop and maintain a successful workforce in a global environment.
Goal 5: Develop strong leadership in the work place.
Goal 6: Foster adherence to organizational values, ethics, and professional responsibility.
Chapter 5 Solutions
Understanding Management
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Ch. 5 - Prob. 1AYSSLCh. 5 - Prob. 1AYSGLCh. 5 - Prob. 1AYSALCh. 5 - Prob. 2AYSALCh. 5 - Prob. 3AYSALCh. 5 - Prob. 4AYSALCh. 5 - Prob. 5AYSALCh. 5 - When the idea first occurred to her, it seemed...Ch. 5 - Prob. 2AYSEDCh. 5 - Prob. 3AYSEDCh. 5 - Prob. 1AYSCFCACh. 5 - Prob. 2AYSCFCACh. 5 - Prob. 3AYSCFCA
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- "Planning is doing the work to attain goals," as the saying goes. Do you fully agree? Give justifications for your response.arrow_forwardcould you answer the following question: the answer should be more than 250 words and with reference please, thanks - Discuss what we mean by (SMART) goals? Would it be better to have no goals at all than to have goals that do not meet (SMART) goals criteria?arrow_forwardThe XYZ's board initiated the strategic plan in 1998 in response to the challenges that were anticipated over the next 10 years. What ensued was a collaborative effort involving the board, management, staff, outside consultants, and external stakeholders. A core team of representatives from all levels of the agency was used to oversee the process. In addition to the core team, a number of other teams were formed to assist with the effort.Conversations between team leaders and team members to achieve goal alignment is sometimes called: * O Stretch goals SMART Smart conversation O Management by Objectivesarrow_forward
- why does lack of commitment, and focusing on the result more than the goals makes it more difficult to achieve our goal?arrow_forwardEffective planning is akin to laying the groundwork for success, serving as a strategic tool that aids in the achievement of desired outcomes. It involves a systematic approach of outlining objectives, determining the necessary resources, and establishing timelines. One key aspect of planning is the identification and mitigation of potential risks, allowing for a more proactive response to challenges. Moreover, planning fosters collaboration and communication within teams, aligning everyone toward a common purpose. In both personal and professional contexts, individuals who invest time in planning tend to experience a more organized and efficient pursuit of their goals. The act of planning not only enhances productivity but also instills a sense of confidence and control, enabling individuals to navigate uncertainties with greater resilience. Question: How do you prioritize tasks within your planning process, and what strategies do you employ to mitigate potential risks or challenges…arrow_forward1- Entrepreneurs must set goals that are Specific, Masked, Actionable, Reasonable, Tacy Specific, Masked, Actionable, Reasonable, Time bound Special, Metered, Actionable, Reasonable, Timely Specific, Measurable, Actionable, Relevant, Time-bound 2- According to Mark Cuban, the #1 reason why entrepreneurs fail is Lack of money, lack of energy Lack of brain, lack of hard work Lack of family and professional connections Lack of good idea 3- Starting a new business guarantees freedom True False 4- Who is an intrapreneur? People who are responsible for internal activity in an entrepreneurial venture people who independantly set up big organizations people who take up entrepreneurial activity as part of a bigger organization 5- Successful entrepreneurs have following qualities They are highly emotional None of the above They care too much for self-respect They are very creativearrow_forward
- How to revise the statement based on FAST goals?arrow_forwardBusiness goals are an essential part of establishing priorities and setting your company up for success over a set period of time. Taking the time to set goals for your business and create individual objectives to help you reach each goal can greatly increase your ability to achieve those goals. Explain business goals and why is so important for business?|arrow_forwardBriefly describe the two views of the goal formulation process, and explain how they differ.arrow_forward
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