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  • BUS208: Principles of Management
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  • What Trade-Offs Are You Building into Your Strategy?
    Course Introduction
    Course Syllabus
    Course Textbooks
    Unit 1: What Is Management?
    1.1.1: Introduction and Doing Good as a Core Business Strategy
    Introduction to Principles of Management
    1.1.2: Who Are Managers?
    Who Are Managers?
    1.1.3: Leadership, Entrepreneurship, and Strategy: A Manager's Guide
    Leadership, Entrepreneurship, and Strategy
    1.1.4: Planning, Organizing, Leading, and Controlling: The P-O-L-C Framework
    Planning, Organizing, Leading, and Controlling
    1.1.5: Economic, Social, and Environmental Performance for Managers
    Economic, Social, and Environmental Performance
    1.1.6: Understanding the Performance of Individuals and Groups
    Performance of Individuals and Groups
    1.1.7: Your Principles of Management Survivor's Guide
    Your Principles of Management Survivor's Guide
    What's Your Learning Style?
    1.1.8: Management Principles throughout the Ages
    History of Management
    1.1.9: A Final Thought: An Alternative Perspective on What Management Is
    What Is Management?
    1.2.1: An Introduction to What Managers Do: The Four Functions
    What Do Managers Do?
    1.2.2: What Is the Management Planning Function?
    Planning
    1.2.3: How to Organize People, Equipment, and Money
    Organizing
    1.2.4: Managers Have To Possess Great Directing Skills
    Directing
    What Is the Difference between Management and Leadership?
    1.2.5: Effectively Controlling the Environment Is a Management Essential
    Controlling
    1.2.6: Managers Need a Variety of Skills to Be Successful
    Managerial Skills
    Management Skills and Styles Assessment
    1.2.7: The Role of Tomorrow's Leaders
    The Role of Tomorrow's Leaders
    1.2.8: Developing Influencing Skills
    Influencing Skills
    The Influencing Skills of President Obama
    1.3: The Personal Side of Management
    Personality, Attitudes, and Work Behaviors
    1.3.1: Identifying Your Personality and Values
    Personality and Values
    1.3.2: Behavior = Values + Perception
    Perception
    1.3.3: Workplace Attitudes and Job Satisfaction
    Work Attitudes
    1.3.4: KSAO (Knowledge, Skills, Abilities, Other Characteristics) vs. Fit
    The Interactionist Perspective: The Role of Fit
    1.3.5: Influencing Workplace Behaviors
    Work Behaviors
    1.3.6: Developing Your Positive Attitude Skills
    Developing Your Positive Attitude Skills
    1.3.7: Workplace Personality Tests
    The Big Five Personality Test
    Discussion: The Big Five Personality Test
    Unit 1 Assessment
    Unit 1 Assessment
    Unit 2: Historical Development and Globalization
    2.1.1: The P-O-L-C Framework
    History, Globalization, and Values-Based Leadership
    2.1.2: Understanding Early Management Principles
    A Timeline of Management and Leadership
    Ancient History: Management Through the 1990s
    2.1.3: The Role of Social Networking in the 21st Century
    Contemporary Principles of Management
    Social Networking and the Workplace
    Discussion: Social Networking and the Workplace
    2.2: Historical and Contemporary Theories of Management
    Historical and Contemporary Theories of Management
    Frederick Winslow Taylor: The Father of Modern Management
    Tribal Leadership
    Discussion: Theories of Management
    2.3: Scientific Management Theory
    Scientific Management Theory and the Ford Motor Company
    2.4: A Modern Look at Management
    Mintzberg and Managing
    Managing: Pure, If Not Simple
    2.5.1: Business Is Going Global, and Management Has To Change
    Business in a Global Environment
    2.5.2: Getting Involved in International Business
    Opportunities in International Business
    2.5.3: The Environment of Global Business: Cultural, Economic, and Legal
    The Global Business Environment
    2.5.4: Managing and Controlling Global Business
    Trade Controls
    2.5.5: Managing through Trade Barriers
    Reducing International Trade Barriers
    2.5.6: Global Enterprise Management
    Global Enterprise Management
    Globalization and the Coca-Cola Company
    2.5.7: Global Management on a Local Level
    Managing Local Practices in Global Contexts
    Unit 2 Assessment
    Unit 2 Assessment
    Unit 3: Organizational Culture, Diversity, and Ethics
    3.1.1: Work Culture Case Studies
    Yahoo! Home Work Edict Is All About Rebooting Its Notorious Company Culture
    Organizational Culture
    3.1.2: Why Managers Need to Understand Organizational Culture
    Understanding Organizational Culture
    3.1.3: How Managers Can Measure and Identify Organizational Culture
    Measuring Organizational Culture
    Guide to Communication and Corporate Culture
    3.1.4: How Managers Form and Maintain Organizational Cultures
    Creating and Maintaining Organizational Culture
    Shifting Corporate Culture
    3.1.5: Managers Have To Be Aware of Organizational Cultural Changes
    Creating Culture Change
    3.1.6: Check Yourself: Do I Fit In?
    Developing Your Personal Skills: Learning to Fit In
    3.1.7: Building Organizational Culture in a New Business Venture
    Company Culture
    Discussion: Company Culture
    3.2: Diversity
    Skills for Change – Diversity at Work
    3.2.1: Managing a Diverse Workforce
    Managing Demographic and Cultural Diversity
    Doing Good as a Core Business Strategy: The Case of Goodwill Industries
    The Value of Ethnic Diversity in the Teaching Profession: A New Zealand Case Study
    Demographic Diversity
    Cultural Diversity and the Role of Ethics and National Culture
    Managing Diversity for Success: The Case of IBM
    3.2.2: Generational Diversity
    Generational Diversity
    Discussion: Generational Diversity
    3.3.1: Defining Business Ethics
    Business Ethics and Social Responsibility
    3.3.2: An Individual Approach to Ethics for Managers
    The Individual Approach to Ethics
    3.3.3: Identifying Ethical Issues
    Identifying Ethical Issues
    Business Ethics
    Top 12 Business Ethics Issues
    3.3.4: Understanding Corporate Social Responsibility
    Corporate Social Responsibility
    3.3.5: What Is Environmentalism?
    Environmentalism
    3.3.6: Responsibilities to Stakeholders
    Stages of Corporate Responsibility
    Stakeholders and Corporate Social Responsibility
    3.3.7: Making CSR Work for All Stakeholders
    Business Case for Corporate Social Responsibility
    3.3.8: Ethical Issues and Considerations
    The Organizational Approach to Ethics
    Values-Based Leadership
    Ethics in Corporate Life
    Ethics and Business Success
    War Against Corruption
    Business and Human Rights
    Unit 3 Assessment
    Unit 3 Assessment
    Unit 4: Leadership and Teams
    4.1.1: Management vs. Leadership
    Everyday Leadership
    How Great Leaders Inspire Action
    The Four Capabilities of Leadership
    4.1.2: Leaders and Leadership
    Leaders Must Drive Change
    4.1.3: Common Failures in Leadership
    The Most Common Failures in Leadership
    4.1.4: Management's Power and Influence
    Focus on Power: The Case of Steve Jobs
    The Basics of Power
    The Power to Influence
    Organizational Politics
    Understanding Social Networks
    The Role of Ethics and National Culture
    Conclusion and Exercises
    4.2.1: Case Study: General Electric Allows Teamwork to Take Flight
    Managing Groups and Teams
    4.2.2: Managing Group Dynamics
    Group Dynamics
    Working in Groups and Teams
    4.2.3: Identifying the Characteristics of a Team
    Understanding Team Design Characteristics
    Defining Teams and Teamwork
    4.2.4: How Do Managers Organize Effective Teams?
    Organizing Effective Teams
    4.2.5: Managing the Barriers to Effective Teams
    Barriers to Effective Teams
    4.2.6: The Areas of Team Development
    What Are the Areas of Team Development?
    4.3.1: Leading a Diverse Team
    Leading Diverse Teams
    4.3.2: Major Pointers for Building Teams
    Team-Building
    4.3.3: Controlling Your Inner Circle
    Who Should You Surround Yourself With?
    4.3.4: Team-building
    Building a Winning Team
    Discussion: Building a Winning Team
    4.3.5: Managing Team Conflict
    Constructive Conflict Management
    4.3.6: All Managers Delegate
    Effective Delegation
    Unit 4 Assessment
    Unit 4 Assessment
    Unit 5: Managing Employees: Motivation, Empowerment, and Conflict Resolution
    5.1: Motivation
    The Puzzle of Motivation
    5.1.1: Case Study: Zappos Creates a Motivating Place to Work
    Motivating Employees
    Delivering Happiness
    Discussion: Delivering Happiness
    5.1.2: Need-Based Theories of Motivation in Management
    Need-Based Theories of Motivation
    5.1.3: Process-Based Theories of Motivation in Management
    Process-Based Theories
    5.1.4: How to Develop Your Personal Motivation Skill Set
    Developing Your Personal Motivation Skills
    5.2: Empowerment
    Empowerment
    The Benefits of Empowering Employees
    5.3.1: Case Study: PointCast
    Negotiation Failure: The Case of the PointCast
    5.3.2: Management's Conflict Essentials
    Understanding Conflict
    5.3.3: Identifying the Causes and Outcomes Associated with Conflict
    Causes and Outcomes of Conflict
    5.3.4: Implementing Conflict Management
    Conflict Management
    5.3.5: Management Must Understand Negotiations
    Negotiations
    5.3.6: Conflict Resolution
    Four Ways to Deal with Conflict at Work
    Steps To Resolve Workplace Conflict
    Meaningful Conflict in the Workplace
    5.3.7: Bringing It All Together
    The Personal Side of Management
    Unit 5 Assessment
    Unit 5 Assessment
    Unit 6: Human Resource Management
    6.1.1: Where Are the Right People? 
    Hire the Right People
    Recruitment Strategies
    Pre-Selection Strategies
    Strategies for Interviews and Post-Selection
    6.1.2: Recruiting and Keeping Quality Employees
    Recruiting, Motivating, and Keeping Quality Employees
    Developing Employees
    Discussion: Developing Employees
    Motivating Employees
    What Makes a Great Place to Work?
    Performance Appraisal
    Labor Unions
    Recruitment and Selection
    6.1.3: Not All Interviews Are Equal
    Interviewing at Google
    6.2.1: Case Study: Kronos Uses Science to Find the Ideal Employee
    Strategic Human Resource Management
    6.2.2: Changing the Role of Human Resources
    The Changing Role of Strategic Human Resource Management in Principles of Management
    6.2.3: Talent Management
    The War for Talent
    6.2.4: Developing Effective Selection and Placement Strategies
    Effective Selection and Placement Strategies
    6.2.5: How Management Uses Pay Structure and Pay for Performance
    The Roles of Pay Structure and Pay for Performance
    6.2.6: How Management Works To Develop a High-Performance Work System
    Designing a High-Performance Work System
    6.2.7: Tying It All Together
    Using the HR Balanced Scorecard to Gauge and Manage Human Capital, Including Your Own
    6.2.8: Being Strategic within an Organization
    Be Strategic with Your Workforce
    6.2.9: Managers Should Understand Personnel Planning
    Talent Hunt: Getting the People You Need When You Need Them
    Unit 6 Assessment
    Unit 6 Assessment
    Unit 7: Planning and Strategy Formulation
    7.1.1: Case Study: Transforming the Textbook Industry
    Strategizing
    7.1.2: Management Strategy Frameworks
    Strategic Management in the P-O-L-C Framework
    An Overview of Strategic Planning or "VMOSA"
    PESTLE and SWOT Analyses
    Resource-Based View
    The Knowledge-Based View of Strategy Formulation
    7.1.3: Intended and Realized Strategies of Managers
    How Do Strategies Emerge?
    7.1.4: Managers Have To Make Choices
    Strategy as Trade-Offs, Discipline, and Focus
    What Trade-Offs Are You Building into Your Strategy?
    Porter's Competitive Strategies
    7.2.1: Case Study: Nucor Aligns Company Goals with Employee Goal
    Goals and Objectives
    7.2.2: How Should Managers Define Goals and Objectives?
    The Nature of Goals and Objectives
    Creating Objectives
    7.2.3: Managers Must Understand the Measurement of Goals and Objectives
    From Management by Objectives to the Balanced Scorecard
    7.2.4: How To Identify Successful Goals and Objectives
    Characteristics of Effective Goals and Objectives
    7.2.5: Managers Use Goals and Objectives for Employee Performance Evaluations
    Using Goals and Objectives in Employee Performance Evaluation
    7.2.6: Connecting Goals and Objectives with Corporate Social Responsibility
    Integrating Goals and Objectives with Corporate Social Responsibility
    7.2.7: Defining Your Own Goals and Objectives Makes You a Better Manager
    Your Personal Balanced Scorecard
    7.2.8: An Overview of Goal-Setting Strategies
    Setting and Achieving Powerful Goals
    Discussion: Setting and Achieving Powerful Goals
    7.3.1: The Components of a Business Strategy
    The Five Components of a Business Strategy
    Strategy Formulation
    7.3.2: Strategy Is Essential for Management Success
    Developing Strategy Through Internal Analysis
    Developing Strategy Through External Analysis
    Formulating Organizational and Personal Strategy With the Strategy Diamond
    Developing Successful Strategies: Planning To Win
    7.3.3: Discussing the Five Competitive Forces of Strategy
    The Five Competitive Forces that Shape Strategy
    Unit 7 Assessment
    Unit 7 Assessment
    Unit 8: Decision-Making
    8.1.1: Case Study: B. Ebbers Creates Biased Decision-Making at WorldCom
    Decision-Making
    8.1.2: The Foundation of Management Decision-Making
    Understanding Decision-Making
    8.1.3: Decision-Making and Management Challenges
    Faulty Decision-Making
    8.1.4: Groupthink in the Decision-Making Process
    Decision-Making in Groups
    8.1.5: Developing Your Own Management Decision-Making Skills
    Developing Your Personal Decision-Making Skills
    8.1.6: Framing a Decision
    Framing a Decision
    8.2.1: The Decision-Making Process
    Making Great Decisions
    Discussion: Making Great Decisions
    8.2.2: Decision-Making Techniques
    How To Make Better Decisions
    8.2.3: The Challenges of Decision-Making
    The Art of Choosing
    8.2.4: Decision-Making
    Decision-Making
    8.2.5: Complex Decision-Making
    The Emergent Genius of Ant Colonies
    Unit 8 Assessment
    Unit 8 Assessment
    Unit 9: Organization Structure, Change, and the Future of Management
    9.1.1: Case Study: Toyota Struggles with Organizational Structure
    Organizational Structure and Change
    9.1.2: Coordinating Individuals Is a Big Part of Organizational Structure
    Organizational Structure
    9.1.3: Contemporary Organizational Structures: Responding to Business Trends
    Contemporary Forms of Organizational Structures
    Leading Change: Herding Cats Would Be Easier
    9.2.1: Change Management and Resistance to Change
    Organizational Change
    9.2.2: Plan for Change or Expect to Fail – Changing Effectively
    Planning and Executing Change Effectively
    9.3.1: The Future of Management
    The Future of Management
    Discussion: The Future of Management
    Management in the Future: The Same as the Past?
    9.3.2: The Future of Work
    The Future of Work
    Unit 9 Assessment
    Unit 9 Assessment
    Study Guide
    BUS208 Study Guide
    Course Feedback Survey
    Course Feedback Survey
    Certificate Final Exam
    BUS208: Certificate Final Exam
    Saylor Direct Credit
    Archived Materials
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  1. BUS208: Principles of Management
  2. Unit 7: Planning and Strategy Formulation
  3. 7.1: Planning and Strategy
  4. 7.1.4: Managers Have To Make Choices
  5. What Trade-Offs Are You Building into Your Strategy?

What Trade-Offs Are You Building into Your Strategy?

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Read this article, which encourages you to recognize the consequences of your strategic choices and how they impact your overall production and organization.

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Saylor Academy © 2010-2025 except as otherwise noted. Excluding course final exams, content authored by Saylor Academy is available under a Creative Commons Attribution 3.0 Unported license. Third-party materials are the copyright of their respective owners and shared under various licenses. See detailed licensing information. Saylor Academy®, Saylor.org®, and Harnessing Technology to Make Education Free® are trade names of the Constitution Foundation, a 501(c)(3) organization through which our educational activities are conducted.