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cma course p1 : unit12

cma course part 1 :  lectures and some questions about each unit

MR:amr taison
MR:mohamed cma
MR:desoky kh.
MR:m.batayneh
(12.1) Correlation and Regression
1) Forecasting Methods
2) Correlation Analysis
3) Regression Analysis
MR:amr taison
MR:mohamed cma
MR:desoky kh.
MR:m.batayneh
(12.2) Learning Curve Analysis
1) Learning Curves
2) methods of applying learning curve analysis
3) limitation of learning curve
MR:amr taison
MR:mohamed cma
MR:desoky kh.
(12.3) Expected Value and Sensitivity Analysis
1) Expected Value
2) The benefit of expected value analysis
3) limitation of expected value
4) expected value of perfect information (EVPI)
5) Sensitivity Analysis
6) The benefit of sensitivity analysis
MR:amr taison
MR:mohamed cma
MR:desoky kh.
(12.4) Strategic Management
1) strategic planning
2) The relation between Strategic management and strategic planning
3) Steps in the Strategic Management Process
4) Porter’s Five Competitive Forces
5) Generic Competitive Analysis (Strategies) Model
6) The Growth-Share Matrix
MR:amr taison
MR:mohamed cma
MR:desoky kh.
MR:m.batayneh
(12.5) Strategic Planning
1) What is the Planning
2) The Planning Process
3) The relationship between Premises and strategic plan
4) Organizational Objectives
5) Management Objectives
6) Means-End Hierarchy
7) the development of policies, procedures, and rules
8) Management by Objectives (MBO)
9) Goal Congruence
G.2020G.2021mr.amro taison
9.112.1lec. 18
9.212.2lec. 18
9.3,412.3lec. 18
9.512.4lec. 19
8.712.5lec. 19
Some Questions about unit 12
1- What is forecasting?
Forecasts are the basis that used in business plans and budgets. And it is used for the demand of project product, levels of inventory and cash flow... etc.
2- What are the forecasting methods?
1) Qualitative methods: depend on the manager’s experience and intuition.
2) Quantitative methods: depend on mathematical models and graphs.
3- What is correlation analysis?
Correlation is the strength of the relationship between two variables, in mathematical or graphic form
4- What is regression analysis?
Regression analysis (least squares analysis): is the process of deriving a linear equation that describes the relationship between two variables with a non-zero correlation coefficient.
5- What is the use of multiple regression?
Multiple regression is used if there is more than one independent variable
6- What is learning curve analysis?
Learning curve is a graph that reflects the employee’s efficiency in reducing production time due to his gaining experience and skill by practicing the production process each time.
7- What is cumulative average-time learning model?
This model shows the total time required to produce a certain number of units
8- What is incremental unit-time learning model?
This model shows the additional time required to produce a new unit
9- What is the limitation of the learning curve?
In most cases, it is difficult to know or define the shape of the learning curve.
10- What is meant by expected value?
Associating an amount (cash) with each of the possible outcomes of a probability distribution
11- What is the benefit of expected value analysis?
The process of analyzing the expected value makes companies use scientific techniques and probability methods on future expectations, although the exact possibilities are difficult for the company to know, but the expected value makes the company able to evaluate decisions scientifically and accurately.
12- What is the limitation of expected value analysis?
One limitation of expected value is that it is based on repeated experiences (trials), when in reality; most business decisions involve only one experience.
13- What is the expected value of perfect information (EVPI)?
Expected value of perfect information (EVPI) is the expected additional value that would be obtained if the decision maker knew in advance which state of nature would occur.
14- What is sensitivity analysis?
Sensitivity analysis is the process of evaluating the impact of changes in variables on the optimal solution
15- What is strategic management?
Strategic management: making decisions and determining the actions through which the company achieves its goals
16- What is Strategic Planning?
It is the plan developed by the company to achieve the set goals
17- What are the steps in the strategic management process?
1) Setting the company’s vision, mission and reasons for establishing it (by the Board of Directors)
2) Setting SWOT analysis
3) The company develops strategies to achieve its mission based on the results of the SWOT analysis
4) Start implementing strategies
5) Strategic control and feedback
18- What are the porter’s five competitive forces?
1) threat of new entry
2) bargaining power of suppliers
3) intensity of rivalry among established firms
4) threat of substitutes
5) bargaining power of customers
19- What are the factors that increase competition between companies in the market?
1) Market stage (entering the industry)
2) The advantages of each product over the other
3) Fixed costs
4) Increase production capacity
20- What is the growth-share matrix?
It is a square shape divided into four parts, and it has two directions
1) Horizontal direction: represents the market share of the project
2) Vertical direction: represents the market growth rate of the project
21- What is strategic planning?
# Strategic planning provides an answer to the following questions
1) What will the company achieve? [The company's goal in establishing it]
2) When will the goals be achieved? [The required period for achieving the goals]
3) Where are the goals achieved? [Local or global]
4) Who will achieve the goals? [Employees who will achieve company goals]
5) How will the goals be achieved? [The methods or ways that used to achieve the goals]
22- What are the steps of the planning process?
1) Defining the strategic goals of the company
2) Determine the strengths, weaknesses and competitors of the company
3) Assessing risk levels
4) Assessment of potential risks (forecasting the effects of external factors)
5) Deriving the best strategy to achieve the goals
6) Capital budgeting
7) Capacity planning
8) Contingency Planning
9) Planning for future events (Scenario planning)
23- What are the Premises?
Premises arise through the environment in which the company is affected (during the implementation of its strategic plan), the company makes some assumptions that may occur during the implementation of the plan, which will affect the success of the strategic plan (i.e. focus is only on the assumptions that affect the achievement of the company’s goals)
24- What is management by objectives (MBO)?
This concept determines the relationship between the employee’s performance and the company’s goals, and determines whether the employee is on the right path or not. Therefore, the employee’s performance leads to achieving the company’s goals, so this method focuses on the employee’s self-direction
25- What is the difference between policies, procedures and rules?
1) Policies: are the terms and conditions that lead the company to make decisions
2) Procedures: are specific directions that specify how the work is to be done
3) Rules: They are the behavior that must be done or refrained from, that is, the rules define acceptable and unacceptable behavior, such as no smoking during work, no use of the phone ... etc.
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