Ch 16: Strategic Management and Managerial Decision Making: Help and Review

About This Chapter

The Strategic Management and Managerial Decision Making chapter of this Introduction to Management Help and Review course is the simplest way to master strategic management and managerial decision making. This chapter uses simple and fun videos that are about five minutes long, plus lesson quizzes and a chapter exam to ensure students learn the essentials of strategic management and managerial decision making.

Who's it for?

Anyone who needs help learning or mastering introductory management material will benefit from taking this course. You will be able to grasp the subject matter faster, retain critical knowledge longer and earn better grades. You're in the right place if you:

  • Have fallen behind in understanding quantitative decision-making tools or the strategic management process.
  • Need an efficient way to learn about strategic management and managerial decision making.
  • Learn best with engaging auditory and visual tools.
  • Struggle with learning disabilities or learning differences, including autism and ADHD.
  • Experience difficulty understanding your teachers.
  • Missed class time and need to catch up.
  • Can't access extra management learning resources at school.

How it works:

  • Start at the beginning, or identify the topics that you need help with.
  • Watch and learn from fun videos, reviewing as needed.
  • Refer to the video transcripts to reinforce your learning.
  • Test your understanding of each lesson with short quizzes.
  • Submit questions to one of our instructors for personalized support if you need extra help.
  • Verify you're ready by completing the Strategic Management and Managerial Decision Making chapter exam.

Why it works:

  • Study Efficiently: Skip what you know, review what you don't.
  • Retain What You Learn: Engaging animations and real-life examples make topics easy to grasp.
  • Be Ready on Test Day: Use the Strategic Management and Managerial Decision Making chapter exam to be prepared.
  • Get Extra Support: Ask our subject-matter experts any relevant question. They're here to help!
  • Study With Flexibility: Watch videos on any web-ready device.

Students will review:

In this chapter, you'll learn the answers to questions including:

  • What steps are involved in the strategic management process?
  • What are the four functions of management in business?
  • How does the decision-making process work in an organization?
  • How do decision makers deal with certainty, risk factors and uncertainty?
  • What are decision-making trees and other quantitative decision-making tools?
  • How does PERT analysis work?
  • What are some of the decision-making roles found in management?

15 Lessons in Chapter 16: Strategic Management and Managerial Decision Making: Help and Review
Test your knowledge with a 30-question chapter practice test
The Strategic Management Process

1. The Strategic Management Process

We will be reviewing the strategic management process, starting with the four main steps of the process. These steps provide the foundation for understanding strategic management as a whole and will serve you well as you deal with management decision-making situations.

Business Environments & the Four Functions of Management

2. Business Environments & the Four Functions of Management

The business environment and the forces that push against it are something every manager must deal with and learn to work with. In this lesson, we will detail the four key functions of management and review how different forces present in the business environment impact these four key funtions

The Decision Making Process for Organizations

3. The Decision Making Process for Organizations

We will be discussing the formal decision making process for managers. The process will show you how to look at a problem and use a series of steps to address that problem. It is a key element of managerial decision making and one that is very practical for the business environment.

Decision Making for Managers: Certainty, Risk & Uncertainty

4. Decision Making for Managers: Certainty, Risk & Uncertainty

Making decisions with the most amount of certainty is something managers learn to do over time. In this lesson, we will review how managers work with certainty and risk in order to make informed decisions.

Quantitative Decision Making Tools: Decision Trees, Payback Analysis & Simulations

5. Quantitative Decision Making Tools: Decision Trees, Payback Analysis & Simulations

Successful managers use decision-making tools to analyze a problem and try to determine the best solution for that problem. Here, we will discuss three main decision-making tools and help you to understand their function and implementation.

PERT Analysis & Project Completion

6. PERT Analysis & Project Completion

Time-based decision methods are used a great deal when a manager or company looks at a time-based project. To ensure the project can be done on time, managers use PERT analysis, a tool for estimating the time it will take to complete a project. This lesson will outline PERT and help you to understand how it is used to predict time based projects.

Bureaucratic Organizations: Examples & Characteristics

7. Bureaucratic Organizations: Examples & Characteristics

In this lesson, we will discuss what a bureaucratic organization is. We will also cover a few characteristics and examples of bureaucratic organizations, and then you can test your understanding with a quiz.

Decisional Roles in Management: Types, Examples & Definition

8. Decisional Roles in Management: Types, Examples & Definition

There are ten different management roles grouped into three distinct areas: informational, interpersonal and decisional. Define the four types of decisional managerial roles and explore real-life examples of this action-based style.

Strategy Formulation: Definition, Model & Process

9. Strategy Formulation: Definition, Model & Process

Ever used a road map to get somewhere? Well, a strategy is a road map for a business. In this lesson, you'll learn about the process of strategy formulation. You'll also have a chance to take a short quiz after the lesson.

What Are Mergers and Acquisitions? - Definition & Examples

10. What Are Mergers and Acquisitions? - Definition & Examples

Do you understand the difference between and merger and an acquisition? Can you explain why a company might merger or acquire, and what can go wrong with the process? Read on to learn the answers to these questions.

What Is an Endowment? - Definition & Effect

11. What Is an Endowment? - Definition & Effect

This lesson will provide an overview of an endowment. Financial endowments affect numerous recipients, and those effects will be explored in this lesson.

Payback Analysis: Formula & Example

12. Payback Analysis: Formula & Example

Payback analysis is an important financial decision-making tool. In this lesson, you'll learn what it is and how to apply the formula, and you'll see an example of payback analysis. You'll also have a chance to take a short quiz after the lesson.

Process Approach to Management: Definition & Concept

13. Process Approach to Management: Definition & Concept

Quality and performance are the aims of process management. In this lesson, you'll learn about process management and some of its key concepts. You'll also have a chance to take a short quiz after the lesson.

What Are Strategic Plans in Business? - Definition & Examples

14. What Are Strategic Plans in Business? - Definition & Examples

Strategic planning is the process of outlining a long-term vision for a company. Learn about the role of strategic planning in business, see its application, and take a quiz on what you've learned.

Earned Value Management: Definition, Formula & Examples

15. Earned Value Management: Definition, Formula & Examples

Earned value management is a systematic process used by project managers to determine project performance and forecast project completion schedules and budgets. This lesson demonstrates how to use the essential components of EVM to successfully manage a project.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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