You know it's like 3.45AM right now and I'm not asleep yet. And I'm having a test later at 9AM and I'm studying and reading blogs at the same time. And you know nothing gets into my head so I'm quite worried and the blog stuff is easier to read compared to the POM notes because it's so dry and makes me wanna cry and I really feel that I won't be able to score an A in my most confident subject this Sem which is POM. And I'm so in trouble because I am repeating myself I know but I just can't remember lah! And it's like 3.47AM now and how come I'm not tired yet? It's so weird and I really needa go get some sleep. Actually I've not even bathed ever since I came home and I feel really dirty and smelly. Okay I will attempt to type whatever POM I remember.
General and Task Environment for the External factors, General consisting of SELIT, and Task has Suppliers, Customers, Competitors, Labour Market. Internal has Stories, Symbols, Ceremonies, Heroes, Slogans.
Strategic Goals- top management,broad targets, focus on organisation
Tactical Goals- middle management, for units/departments, more specific than strategic goals
Operational Goals- lower management, narrower in scope, desired results from lower levels
Means-end chains means the goal is set at the top management, but fulfilled from bottom to top.
Basic Planning Process
1) Set SMART goals.
2) List alternatives to reach goals
3) Develop assumptions
4) Choosing best alternative to reach goals
5) Develop plans to pursue chosen alternatives
6) Execute plan.
Single-use plans are plans that are used once and not likely to be repeated while Standing plans are plans that will be used as a guideline, procedure, or a set of rules to follow.
Strategic Planning
1) Develop mission and goals
2) SWOT analysis,
Porter's 5 competitive forces
-Rivalry among existing firms
-Threat to new entrants
-Bargaining power of customers
- " of suppliers
-Threat of substitute for products and services
3) Access Str and weakness
4)Generate Alternative Strategies
-Growth strategies
-market penetration(current market current goods, you go into market with same goods)
-market development(new market current goods)
-product development(current market new goods)
-Differentiation( unique products and services as seen in the market)
-Focus ( differentiated or cost leadership goods in niche market)
-Cost leadership (Maximising efficiency and minimising cost)
5)Develop strategic plan
6)Develop tactical plans
7) control and assess
8) Repeat process
P.S: You know I hate Porter initially beacause thanks to him I have to learn his 2 famous theories he created but now I kinda like him coz I think it's kinda easy and I hope Strategic Planning comes out in Case Study. Oh Lord please help me lah!
Imma get done with Organising and go bathe and sleep. Hahaha some I don't remember but I flipped my notes and it's 4.06AM now. I myself is amazed how fast I study. Hahaha.
Organising has 5 structures. Traditional ones are Functional, Divisional and Matrix. Contemporary ones are Team and Network.
Functional-grouped based on common skills, expertise
Adv- in-depth skills development, career progression within functional departments, excellent co-odination within functions.
Disadv- decisions concentrated at top of hiearchy, poor communication across functions, limited general training for employees.
Divisional-separated based on common product or geographical region
Adv- good co-ordination across functions, good customer focus, develop general management skills
Disadv- duplication of resources across divisions, difficulty in top management control, competition for coporate resources.
Matrix-divisional and functional at the same time. Effect of 2 bosses.
Adv-more efficient use of resources, develop both general and specialised skills, expertise available to all divisions.
Disadv- power dominance on one side of the matrix, many meetings and less action instead, frustration and confusion from dual chain of command.
Team- made of work groups or teams, cross-functional in nature.
Adv- Breaks down barriers across departments, less response time and quicker decisions, boost morale and enthusiasm.
Disadv- time and resources spent on meetings, too much decentralisation.
Network-separate companies in headquarters, good for international companies.
Adv- Global competitiveness, workforce flexibility, reduced administrative overhead
Disadv- Weaken employee loyalty, no hands-on control, lose organisational part.
Chain of command
-unity of command (1 employee 1 supervisor)
-scalar of command (afew employees to 1 supervisor)
Line authority( directly responsible e.g Marketing Manager directs Marketing Executive)
Staff authority (give advise to other managers of other departments e.g Marketing Manager provides assistance to HR Manager)
Work schedules
-Flexitime
-Compressed Workweek
-Job Sharing
-Telecommuting
Ok thats the end of like 4 chapters, totally leaving out the Introduction, because simply I lost the notes and only MCQ will come out and I'm left with Controlling and I believe with all my faith Controlling will not come out at all. Except MCQ and I shall bomb my way through lah coz I'm bomber girl hahhaha! Oh, 4.23AM now. Okay at least I'm done within an hour. Sorry yáll had to read all this! Take it as learning something new lah. Ok bye! Sorry I used this space to write all this! Hahahhaa erm, ya bye. Imma sleep now.
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