Tools in business planning and decision making

Management Process describes functions of a manager and functions to enable the workers. Workers enablement gives authority to staff in the operation level to plan, control, and to make decisions without requiring authorization from middle or top management. Worker enablement is done based on the philosophy that the workers are considered very close to the job and are capable to give input and suggestions, to get ideas, and have an active role in problem solving.

Tools in business planning and decision making

Use your right brain for intuition and wisdom, your left for planning. That means I intend to come back to the book now and again for wisdom and guidance about my topics of interest… Strategy and Strategic Thinking. Learning to Think Strategically asserts that learning is the critical link to transforming strategic thinking into a sustainable competitive advantage.

Learn the four stage strategic decision-making model. The model fits for all sorts of decisions, be they tactical, operational, or, in our area of interest, strategic. In the rare instances when I have been asked for advice, I have often resorted to the model — shown below — to mask my otherwise dearth of wisdom.

Here is what I have learned to ask people about the decisions confronting them: Also check out this article about avoiding decision traps in CFO Magazine.

Tools for business planning and decision making

Set up a process to scan your Competitive Environment using Google Alerts. Every day, I get a morning email from Google with links to all the articles that have been published in the past 24 hours on three topics near and dear to me: For your use, you might want to track anything that mentions your company, your competitors, your key suppliers or your favorite artist.

Think about setting up barriers to entry to protect your business. Look into setting up exclusive relationships with customers, distributors and suppliers. Make sure you are protected with trademarks and patents. And simply, be careful about giving away your intellectual capital. Reach out to your customers for feedback.

Better yet, set up a Customer Insights research project for your company. Measuring performance on these attributes yields insight on where you need to improve your offerings, be they products or services.

Find more detail about setting up a CVA for your company here. Install a rigorous ongoing strategy process.

Authors Bradley, Bryan and Smit suggest that moving from ideas to execution requires seven distinct modes of activity. The authors suggest a looping and re-looping approach to strategy making with the following elements.

What are our objectives and constraints? What is the reality of our performance and capabilities? What do we expect of the future environment? Development and Selection Search: What options do we have to create value?

What packages of choices will define our strategy? How will we deliver the changes required in the strategy? Execution and Refinement Evolve: How will the strategy unfold and evolve over time?

How do we manage strategic risks? Give some thought to outsourcing business processes that are not in your wheel house.

tools in business planning and decision making

Nike makes shoes, right? Nike is a wonderful company with superb marketing capability. But Nike outsources the actual manufacturing process to someone else.

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Obviously, the company has succeeded for years at doing just that. Knowing when to outsource work and when to keep it in-house is a key to successful strategy. To learn how to categorize your work into Competitive, Competitive Enabling and Business Routine bucketsfollow the link. Visit and study your competitor.Overview of ‘Business planning and strategic decision-making’ A one-day workshop for directors (and those aspiring to Board positions) who are responsible for, or contribute in a significant way to, the business planning process and who must take the strategic decisions which form the basis of the plan.

Tools for business planning and decision making. Tools for business planning and decision making.

Mind Tools for Your Organization

5 stars based on 51 reviews Essay. Disadvantages of artificial intelligence pdf Tools for business planning and decision making. 5 stars based on 51 reviews. Decision-making tools and techniques While the basic principles might be the same, there are dozens of different techniques and tools that can be used when trying to make a decision.

The Management Process – Planning, Controlling and Decision Making May 13, · Posted in Project Management Methodology Management Process is defined as activity which involves Planning, Controlling and Decision Making.


An Entrepreneur’s Guide to Business Planning and Decision Making! This article provides you an extensive and detailed guide of business planning and decision making that exists today. Planning and decision-making are the most important managerial functions, and there are many relations between them.

Planning is the thinking of doing. Decision-making is a part of planning. Planning is the process of selecting a future course of action, where Decision-making means selecting a course of action.

Management Process: Planning, Controlling, Decision Making