Testting
...vity and employee behavior are influenced by the informal work group. Analyzing the threat of substitutes to existing products requires watchfull attention to technological advances. The macro-environment are those most general external elements that influence a firm’s strategic decisions,. It must be considered in formulating the business strategy. Includes government policies, economy, demographics, technology and social factors. Interest rates, inflation, the federal deficit, and unemployment levels are all elements affecting the economy. Demographics describe the population in terms of age, gender, education, income, occupation, etc. Competitors, suppliers, new entrants, and substitute products are part of the competitive environment, government agencies are not. Organizations must acquire a variety of resources in order to produce a product or service or value. These resources may include material, equipment, financing or even people/employees. The sources that provide these various resources are referred to as suppliers. In determining the anticipated sales volume for the next quarter or the next year, a manager would use forecasting. The final stage in decision making process is not making the choice, but evaluating the decision. Group thinking is the total and consistent agreement among group members. Uncertainty exists when the manager has insufficient information to make the decision. The first step in the decision making process is identify the problem. The stages of decision making are: Identifying and diagnosing the problem, generating alternative solutions, evaluating alternatives, making the choice, implementing the decision, and evaluating the decision. Advantages or using a group for decision making include a higher level of understanding the decision.Devils advocacy involves people presenting contrary arguments in order to force investigation of the alternative under consideration. An organization’s mission statement is to declare the organization’s basic purpose and scope of operations, while a strategic vision is a long term direction and strategic intent of a company. The level of planning involving the longest time frames and the la...