Week 4: 4.1 Learning Outcomes:

Week 4: 4.1 Learning Outcomes:

Discuss the role of strategic management.
Compare mission, vision, and value statements.
Discuss the types and purposes of goals and plans
Describe SMART goals and their implementation
4.2 Action Required:

Use the website www.samples-help.org.uk/mission-statements to look up for the mission statements of some well-known corporations.

Week 5 : 4.3 Test your Knowledge (Question):

Evaluate the usefulness of any one of these mission statements for the planning of future strategies for this business.
4.4 Instructions

Answer the question available in the “Test your Knowledge” section.
Post your answer in the discussion board using the discussion link below
(Week 4: Interactive Discussion)

Week 5: 5.1 Learning Outcomes:

Compare rational and nonrational decision-making.
Explain how managers can make decisions that are both legal and ethical.
Describe how evidence-based management and business analytics contribute to decision-making.
Describe how artificial intelligence is used in decision-making.
Compare four decision-making styles.
Identify barriers to rational decision-making and ways to overcome them.
Outline the basics of group decision-making.
5.2 Action Required:

“Chance favors only the prepared mind.” Louis Pasteur

A ‘decision’ tree is a graph of decisions and their possible consequences. It is used to create a plan to reach a goal. It is a technique that considers the value of the options available and the chances of them occurring.

5.3 Test your Knowledge (Question):

To what extent does the use of the decision tree business technique support Louis Pasteur’s statement?
5.4 Instructions

Answer the question available in the “Test your Knowledge” section.
Post your answer in the discussion board using the discussion link below
(Week 5: Interactive Discussion)