Paper Topic:

Business Management and Leadership

PROJECT MANAGEMENT AND SCENARIO PLANNING Advantages of Scenario Planning GTSI (organization Deals with facts and perceptions Transforms information to fresh perceptions Aids in the formulation of effective business strategies Increase the knowledge on the business environment Widen perception about possible futre events Managers Obligated to go beyond common or standard point of view Recognize problems or challenges before they even start to materialize Foster good rapport between management and employees which helps in preventing conflicts Disadvantages of Project Management GTSI 9organization Caters to short-term goals only

br For specific goals or projects Requires a small organizational structure (project team Managers Can limit their abilities particularly technical skills Requires constant tolerance for ambiguity and uncertainty Obliged to render more time until the project is finished May be perceived as not a real job Recommendations on Decision Making Process Think first before action Always look at the worst case scenario Leadership with integrity acknowledges accountability and responsibility Follow the 6 basic steps involved in making effective decisions (Ethics Resource Center , 2009 Define the problem Identify available alternative solutions to the problem Evaluate the identified alternatives Make the decision Implement the decision Evaluate the decision References Economist .com (200 , September 1 . Scenario Planning . Retrieved June 18 , 2009 , from http /www .economist .com /displaystory .cfm ?STORY_ID Ethics Resource Center (2009 . PLUS : The Decision Making Process . Retrieved June 18 , 2009 , from http /www .ethics .org /resources /decision-making-process .asp GTSI .com (2009 . About GTSI . Retrieved June 18 , 2009 , from http /www .gtsi .com /cms /aboutgtsi /aboutdefault...

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