n business, if you don’t have data to back up your point of view… You’re winging it You’re reckless You’re just another person with an opinion You’re unlikely to make consistently good decisions All of the above
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In business, if you don’t have data to back up your point of view…
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You’re winging it |
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You’re reckless |
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You’re just another person with an opinion |
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You’re unlikely to make consistently good decisions |
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All of the above |
Step by step
Solved in 5 steps
- Give an example of a good decision you made that resulted in a bad outcome. Also give an example of a bad decision you made that had a good outcome. Why was each decision good or bad?1- What are the steps of Decision-Making? 2- What is the different between Account payable and Account receivable?Making an Ethical Decision You work at a large bank in the new accounts department where you open accounts for new customers. The bank has a policy that pays bonuses related to the number of new accounts you assist in opening. Your manager tells you that many of the accounts are for small depositors. He suggests that wen opening a new savings account for these customers, you can add another account, such as a credit card, without them even being aware of it. You know that opening an account without the approval of the customer is not ethical, but you also know the person may never know who opened it. Anyway, your manager suggested the idea and earning bonus money sounds good. What are your alternatives? What would you do? Is that the ethical thing to do? Answer below in no less than 6 complete sentences.
- You live in a small town and you need an attorney. Aunt Marcella has died, and you are the executor of her rather complicated estate. You need an attorney who is an expert at probate work to help you with probating the will. You could hire one of the two attorneys in your small town, or you could hire one of the hundreds of attorneys from the big city down the highways. Thinking like an economist, will you want to hire a small-town attorney or a big-city attorney to help you with this complicated estate, and why?You own a company that makes after-market accessories for vehicles. You have 75 employees split in two facilities: one in Denver and one in Baltimore. The facility supervisor in Baltimore has abruptly quit to follow his wife on an overseas government appointment. You hired a former colleague who has everything needed to step in and take over the operation successfully. However, as the only woman at that site, she has been facing serious resistance to change since beginning three weeks ago. List the reasons why you think she is experiencing such resistance to change then explain how you would work to overcome this resistance with the 32 employees in that building. (please cite references)Describe one professional experience in which you used evidence as the basis for decision making and one experience in which you made a decision without evidence for support. For each of the situations described, explain how the use of evidence (or the lack of it) impacted the outcome of your decision making. Be specific in terms of positive and negative impacts. What were your previous experiences, identify two or more “lessons learned” regarding the practice of evidence-based decision making. How might you change your approach in the future?
- Answer on these two senarios: Senario 1: You have decided to form a new start-up company developing applications for the iPhone. Give examples of the three distinct types of financial decisions you will need to make. Senario 2: You are the CEO of a company and you are considering entering into an agreement to have your company buy another company. You think the price might be too high, but you will be the CEO of the combined, much larger, company. You know that when the company gets bigger, your pay and prestige will increase. What is the nature of the agency conflict here and how is it related to ethical considerations?Aaron Alexis, the former Navy reservist who went on a shooting rampage in September 2013 and killed 12 ppl at the Washington Navy Yard in Washington, DC, had a history of mental instability, but he was carrying a valid security clearance.How would you suggest managers make decisions for issuing or revoking security clearances to prevent this kind of catastrophe?What research would you want to conduct prior to making a decision to invest in new presses?
- True or false?Our ability to make free and rational decisions, which grants each person essential dignity and moral worthiness, is: personal integrity. virtue. autonomy. theoretical reasoning.You've heard the expression "no pain, no gain"? In the investment world, the comparable phrase would be "no risk, no reward." How you feel about risking your money will drive many of your investment decisions. The risk-comfort scale extends from very conservative (you don't want to risk losing a penny regardless of how little your money ears) to very aggressive (you're willing to risk much of your money for the possibility that it will grow tremendously). As you might guess, most investors' tolerance for risk falls somewhere in between. If you're unsure of what your level of risk tolerance is, this quiz should help. 8. You want to take someone out for a special dinner in a city that's new to you. How do you pick a place? (a) read restaurant reviews in the local newspaper, (b) ask co-workers if they know of a suitable place, (c) call the only other person you know in this city, who eats out a lot but only recently moved there, (d) visit the city sometime before your dinner to check out…