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Management: Strategy and Decision Making

Audience

Managers, prospective managers, and any other employees seeking advanced competency in the area of management

Prerequisites

A basic understanding of the management function

Course Aim

To define business- and corporate-level strategies and to discuss decision-making models

Learning Objectives

Name and explain Porter's three business strategies. Define Miles and Snow's four business strategies. Define the product life cycle. Devise strategies appropriate to a product's life-cycle stage. Define and discuss single-product strategy. Define related and unrelated diversification. Discuss the pros and cons of diversification. Define decision making. Distinguish between programmed and non- programmed decisions. Explain the classical decision model. Define the rational and prescriptive models. Define the administrative model. Discuss group decision making.

Topics Covered

Business-Level Strategies - Porter's generic strategies - Miles and Snow typology - The product life cycle - DecisionPath: Managing The Product Life Cycle Corporate-Level Strategies - Formulating corporate-level strategies - Related and unrelated diversification - Implementing corporate-level strategies - Hands-on: Using the GE Business Screen The Nature of Decision Making - Decision making - Hands-on: The decision-making process - Types of decisions Decision-Making Models - Rational perspectives on decision making - Hands-on: The rational decision-making process - Behavioral aspects of decision making - Group decision making