1.6 Study Guide for Ib Business and Management

1.6 Organizational planning tools

Business Plans Analyze the importance of the information in the business plan to different stakeholders.

Project planning activities include the identification of the project's objective; the specification of required project resources and their allocation; and the determination of the methods to be used to deliver the project end product, respond to critical events and evaluate activities and outcomes. The benefits of stakeholder involvement in the planning process include a reduction in distrust of the project process or outcome, an increase in commitment to the project objectives and processes, and heightened credibility of the project's outcome.

Decision-making framework Internal/external constraints on decision-making.

Apply a formal decision-making framework to a given situation.

Decision making

• Fishbone

1.6 Organizational planning tools

Business Plans Analyze the importance of the information in the business plan to different stakeholders.

Project planning activities include the identification of the project's objective; the specification of required project resources and their allocation; and the determination of the methods to be used to deliver the project end product, respond to critical events and evaluate activities and outcomes. The benefits of stakeholder involvement in the planning process include a reduction in distrust of the project process or outcome, an increase in commitment to the project objectives and processes, and heightened credibility of the project's outcome.

Decision-making framework Internal/external constraints on decision-making.

Apply a formal decision-making framework to a given situation.

Decision making

• Fishbone

• Scientific versus intuitive decision-making processes

o Scientific decision-making processes include: L-Dopa helps slow down Parkinson’s disease while D-Dopa does not function properly. This is shown through...