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IB BUsiness MAnagement:
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Key Learning Outcomes:
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Organisational planning toolsPlanning for the future and taking effective decisions are two very important management functions that are linked. Planning means establishing the future direction the business should take and setting overall objectives and targets. Organisational planning tools can facilitate effective decision-making.
Strategic decision-making focuses on making choices between different strategies so that the objectives of the business are more likely to be achieved. |
Decision-MakingDecision-making can be intuitive or scientific. Intuitive decision-making involves making decisions based on instinct or 'gut feeling' (perhaps based on the manager's experience) for a situation and the options available . Scientific decision-making on the otherhand involves basing decisions on a formal framework and a data analysis of both the problem and the options available. This topic
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The Framework -
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Gantt ChartsA Gantt chart is an organisational planning tool that is a simple representation of a project’s schedule – a business project will be plotted within the project’s timeframe enabling managers to plan and schedule the business project and monitor its progress.
The purpose of a Gantt chart is to enable managers to schedule and successfully complete a project that requires a large number of jobs to be completed in the minimum amount of time. Some activities will be critical, in that, if their deadline are missed then the whole project will be delayed and times and schedules will need to be altered. Below is a Gantt chart for a firm’s development of a new product to bring to market. Strengths and Limitations of gantt charts |
Preparing a gantt chart
Steps to construct a gantt chart
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DECISION TREESA decision tree is a diagram that sets out the options connected with a decision and the outcomes and economic returns that may result.
Definition:The expected value is the likely financial result of an outcome obtained by multiplying the probability of an event occurring by the forecast economic return if it does occur.
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Mr Burton explains:
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Lewin's Force Field AnalysisForce Field analysis is an analytic process used to map the opposing forces within an organisation where change is taking place.
Driving and Restraining ForcesForce field analysis explained |
Force Field AnalysisUsing Lewin's model
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Ishikawa's Fish Bone Diagram - Cause and Effect Diagrams
Cause and Effect Diagrams:
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1.7 Organisational Planning Tools:
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1.7 Organisational Planning Tools:
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Progress check - test your understanding by completing the activities below
You have below, a range of practice activities, flash cards, exam practice questions and an online interactive self test to ensure you have complete mastery of the IB Business and Management requirements for the Business Organisation and Environment 1.7 Organisational Planning Tools topic.
IB BUSINESS MANAGEMENT QUIZZES AND TWO CLASSROOM GAMES
Test how well you know the IB Business Management Business Organisation and Environment - 1.7 Organisational Planning Tools topic with the self-assessment tool. Aim for a score of at least 80 per cent.
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