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Scenario planning is as much art as science, and prone to a variety of traps (both in process and content) as enumerated by Paul J. H. Schoemaker. [14] More recently scenario planning has been discussed as a tool to improve the strategic agility, by cognitively preparing not only multiple scenarios but also multiple consistent strategies. [10]
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Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning. [7] [8] [9] Michael Porter identifies three principles underlying strategy: [10] creating a "unique and valuable [market] position" making trade-offs by choosing "what not to do"
Therefore, management development is a crucial factor in improving their performance. A management development program may help reduce employee turnover, improve employee satisfaction, better able a company to track manager performance, [ 5 ] improve managers' people management skills, improve management productivity and morale, and prepare ...
Planning and goal setting are important traits of an organization. It is done at all levels of the organization. Planning includes the plan, the thought process, action, and implementation. Planning gives more power over the future. Planning is deciding in advance what to do, how to do it, when to do it, and who should do it.
The skills needed to be a successful program manager consist of the ability to work well with others and communicate clearly and effectively. For a program manager, time management, problem solving and critical thinking are key skills needed to manage, plan, and execute multiple projects.