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Question
- Satisficing involves negotiations between key stakeholders to arrive at an acceptable compromise.
- Sequential attention is when management focus on stakeholder needs in turn. For example, staff may receive a pay rise with the clear implication that it will not be their 'turn' again for a few years and so they should not expect any further increases.
- Side payments are where a stakeholder's primary objectives cannot be met so they are compensated in some other way. For example, a local community may object to a new factory being built on a site that will cause pollution, noise and extra traffic. The firm concerned may continue to build the factory but try to appease the community by also building local sports facilities.
- Exercise of power is when a deadlock is resolved by a senior figure forcing through a decision simply based on the power they possess.
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These are League and Tourism Management questions.
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Explain what is meant by "Enterprise Resource Planning (ERP)" and what are the Functional Areas of Operation.
Appraise the three (3) powers of modern computer technology on the customer data model, and recommend how they can be leverage to support CRM
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