...Consumer Decision Making According to (Consumer decision making process, 2010) Consumer decision making is the process of choosing between two or more alternatives; consumer decision making may be defined as a process of gathering and processing information, evaluating it and selecting the best possible option, goods, services, organizations, people, places, and ideas that will best addressing their current need. Sometimes consumers go through these stages of gathering and processing the information without even realizing that they are going through the processes. (Alet, 2001), states that Consumer behaviour and consumer decision-making have become prominent research topics in the various fields of consumer science in recent years. Consumer Decision Making pertains to making decisions regarding product and service offerings. There are different consumer decision making models such as Bettman's Information Processing Model of Consumer Choice, the Howard-Sheth model of buying behavior, Kotler model and the Nicosia model. The Engel, Kollat & Blackwell (later Miniard) consumer decision making model will be looked at for the purpose of this research. Engel, Kollat & Blackwell (later Miniard) consumer decision making model According to (Sahney, 2005), the Engel, Kollat and Blackwell Model, also referred to as the EKB model was proposed to organize and describe the growing body of knowledge/research concerning consumer behavior. A comprehensive model, it shows the various components...
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...Why Pursue an MBA? MGT/521 Why Pursue an MBA? Deciding to pursue an MBA degree can be a daunting decision, especially after recently completing an undergraduate degree. Many positives and negatives to consider before making such a life altering decision. This essay will examine several casual circumstances on both sides and answer the question, “Why Pursue an MBA?” Reasons for pursuing an MBA are: 1. Pursuing an MBA is a long-term goal. 2. Pursuing an MBA can assist in a needed career change. 3. An MBA can lead to more money in the job market. Reasons against pursuing an MBA are: 1. The time, cost, and commitment requirements involved. 2. No guarantees that earning an MBA will lead to advancement on the job. 3. A perception exists that there are to many MBAs in the job market. Reasons for Pursuing an MBA Deciding to pursue an MBA has been a long-term goal for some time. Most long-term goals are often never realized. As a result of the 9/11 tragedy the government decided to assist veterans who wanted to continue his or her education. This assistance and the downturn of the economy placed this long-term goal squarely in the forefront. This scenario fell into place, as career change thoughts were starting to surface. Pursuing an MBA can assist in a needed career change. In 2008 the United States economy and the housing market begin to severely decline. This was just four years after embarking on a rewarding and lucrative...
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...PUNJAB TECHNICAL UNIVERSITY KAPURTHALA Scheme and Syllabus of Masters in Business Administration (MBA) Batch 2012 onwards By Board of Studies Business Administration Punjab Technical University Scheme of (MBA) Batch 2012 Onwards First Semester Course Code Course Title Load Allocation L T P 4 1 4 4 4 4 3 3 28 1 1 1 1 2 2 7 - Contact Hours: 36Hrs. Marks Distribution Internal 40 40 40 40 40 40 40 280 External 60 60 60 60 60 60 60 50 470 Total Marks 100 100 100 100 100 100 100 50 750 Total Marks 100 100 100 100 100 100 100 50 750 Total Marks 100 100 100 100 100 100 100 50 750 Credits MBA 101 MBA 102 MBA 103 MBA 104 MBA 105 MBA 106 * MBA 107 * MBA 108 Principles and Practices of Management Organizational Behaviour Accounting for Management Quantitative Techniques Managerial Economics Business Communication Information Technology for Management Viva Voce Total Course Title 5 5 5 5 5 5 5 2 37 Credits Second Semester Course Code Contact Hours: 34 Hrs Load Marks Distribution Allocation L T P Internal External 4 1 40 60 4 1 40 60 4 4 4 4 3 27 1 1 1 1 6 40 40 40 40 40 280 60 60 60 60 60 50 470 MBA 201 MBA 202 MBA 203 MBA 204 MBA 205 MBA 206 BTHU 101* MBA 207 Business Environment Production and Operation Management Human Resource Management Marketing Management Financial Management Research Methodology Human Values and Professional Ethics Viva Voce Total Course Title 5 5 5 5 5 5 3 2 35 Credits Third Semester Course Code Load Allocation L T P 4 1 4 4 4 4 4 3 27 1 1 1 1 1 6 Marks...
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...proper decision making is very important. The decision making should be about the courses, one wants to pursue for his successful career. In current scenario, there are myriad of avenues for an individual to choose as better career option. Most of these avenues ensure good career expansion in the future, but few among them do not. It all depends on the scope of the course, we are choosing to pursue. Every course regardless of its field has some or the other future prospects, but the extent and time may differ. After completion of my graduation from an average college, I was in a state of dilemma to go which way, which course can ensure me a good career growth? I started searching out for different courses that can go for higher studies. After a lot of research and consultation, I zeroed on Masters in Business Administration. MBA is a program, which draws students from different academic backgrounds and gives exposure to them regarding different facets of business such as marketing, finance, operations and human resources. MBA makes a candidate ready to face all the challenges of business. I think MBA is a degree, which can assure good career growth even to a simple graduate (Master of Business Administration- MBA) MBA is a degree or program, where you not only learn from the faculty, but also from your colleagues, who come from diverse academic background. It makes an individual aware of all the fields that are needed in a business process. A person holding an MBA degree...
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...and counter objectives regarding the decision to obtain a Masters of Business Administration (MBA). The impact of education on earning potential, job security, and becoming an entrepreneur will be examined. This paper will also discuss how raising and countering objections has been an aid in my own decision to get an MBA and how I embraced my decision to go back to school. Objections will be raised for reasons not to pursue a graduate degree and referenced information will be sited to support the raising and countering of the content. Why an MBA Raising Objections Business schools have long sold the promise that, like an F1 driver zipping into the pits for fresh tires, it just takes a short hiatus on an MBA program and you will come roaring back into the career race primed to win. After all, it signals to companies that you were good enough to be accepted by a decent business school (so must be good enough for them); it plugs you into a network of fellow MBAs; and, to a much lesser extent, there's the actual classroom education. Why not just pay the bill, sign here and reap the rewards? The problem is that these days it doesn't work like that. Rather, more and more students are finding the promise of business schools to be hollow. The return on investment on an MBA has gone the way of Greek public debt. If you have a decent job in your mid- to late- 20s, unless you have the backing of a corporate sponsor, leaving it to get an MBA is a higher risk than ever. If you are...
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...Obtaining MBA Michael R. Lowe MGT/521 Management Feb 22, 2010 Dr. Kenneth C. Sherman Argument Construction pg 2 Abstract In constructing an argument for the support of my decision to achieve an MBA degree, I was reluctant to go back to school at all, for the simple fact that I have had very little success with my BA/IT. My decision to return to school was based at first solely on my inability to repay the loans that I have already incurred for the BA. So, I really did not have much choice but to return to school, so that repayment of said loans will be deferred until after I have completed Graduate school. However, after making my decision based on the preceding facts, I am beginning to realize the importance of obtaining and putting the degree to work. To have my MBA in many cases where landing better employment is concerned will demonstrate a higher level of commitment and achievement too many potential employers’, or to obtaining funding to have my own business. In turn having my MBA will help to open doors that otherwise may not be open at all to those without their MBA. Argument Construction pg 3 When looking into whether or not I should pursue an MBA, there were several different factors that led me to making the decision to go...
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...Management-MGT521 Writing an Argument Paper Many factors influence the decision to seek a Master’s in business administration degree. Employability, cost, interest, and personality compatibility are just a few areas one should consider when determining if an MBA degree is the best direction academically for one to embark upon. Through research and reliable sources one can gather important data useful in making this life-changing decision. Reliance on credible and valid data significantly improves ones opportunity to make an informed decision and this increases the probability of successful completion of the MBA program. Why an MBA The decision to seek a graduate degree in Business Administration should be based on a number of elements. Determining factors in making this decision may include personality traits, interests, life stage, past career developments and successes as well as economic and employability factors. When an individual has experienced the business and management fields for a number of years, and the individual has developed a positive level of accomplishment, seeking an MBA degree could lead to significant benefits professionally. After spending many years in another field the decision to begin a new career in mid-life is a major and a somewhat anxiety filled endeavor. Income potential, personal interests and employability are considerations of extreme importance when weighing the final decision. When personality traits are analyzed for possible career choices...
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...Assignment 1: The MBA Decision 1. How does Ben’s age affect his decision to get an MBA? Ben must evaluate the cost of completing a MBA program against the higher earning potential after graduating. Therefore Ben’s age is one of the critical factors in his decision because his age determines how much longer he can work. If he would wait his MBA at age 40, he would have less time to recoup his cost by working at an increased salary resulting from graduating his MBA program. 2. What other, perhaps non-quantifiable factors, affect Ben’s decision to get an MBA? Asides from a purely financial standpoint, there are several other factors that may affect Ben’s decision to get an MBA. The value he attaches to education, completing a higher degree, or a sense of accomplishment may positively affect his decision. On the other hand the stress of a MBA program, the time commitment, or the intellectual challenge may be negative factors in Ben’s decision-making process. Ben may also think that a MBA and his increased earning potential may allow him to take better care should he chose to have a family. 3. Assuming all salaries are paid at the end of each year, what is the best option for Ben –from a strictly financial standpoint? In order to compare all three options, the net present value (NPV) of the three options must be calculated. NPV is the present value of future cash flows minus the present value of all costs associated in a decision (Ross, Westerfield, Jaffe, & Jordan, 2011)...
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...degree in Business Administration (MBA) or not pursue an MBA. The information presented in this paper indicates that the decision for getting an MBA is a big decision driven by the desire to make more money, progress more rapidly, working smarter, and becoming a better person. Getting an MBA is a good way to reconsider a professional path and make an employment transformation without penalty. There is also a particular amount of respect just by possessing an MBA. This paper presents some personal reasons that apply to the decision on why decide to go back to school to obtain an MBA and reasons not to. Writing an Argument My whole life I have heard it said that education is a key element is achieving individual development and life success. Getting an MBA is a big decision. The Master’s in Business Administration (MBA) is a widely accepted in business management around the world. While getting an MBA can be expensive, an MBA is a good way to reconsider a professional path and make an employment transformation without penalty. However, there are some people who say getting an MBA is not needed. They believe that people go to business schools for the the wrong reasons and that individuals can make employment transformations or move up in a career field without having to get an MBA. Big Decision Getting an MBA is a good way to reconsider a professional path and make an employment transformation without penalty. According to some sources, a good MBA school may cost you $80,000 in tuition...
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...Argument The decision to pursue and earn a Master of Business Administration (MBA) graduate degree is an important decision that will have far reaching positive influences in life and will assist in finding a new rewarding career. An MBA is one of the most important tools in the toolbox for a business, personnel, management, finance, human resource, and entrepreneurial careers. The critical success in the future of a career depends on the ability to be called on for knowledge, expertise, and advice, for which an MBA is the vehicle that will provide my career the means to that end state. A graduate with an MBA is stereotypically regarded as more dependable, knowledgeable, and marketable. An MBA is sometimes called the golden ticket to increase in salary, career progression, influence, and power ((Rapert, Smith, Velliquette, & Garretson, 2004, p. 17). An MBA is recognized globally as a standard of excellence that is measured and weighted in today’s global economy. An undergraduate student has skills and knowledge, but armed only with this degree, the student has on touched the breadth of knowledge in key subject areas including economics, finance, strategic managerial principals, and analysis. The undergraduate is knowledgeable in the area of business perceptions and analysis, but is far from having the skills required to apply advanced theory and analytical practices in a competitive fast paced business environment. A Graduate student with an MBA has honed the...
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...Review of a past decision based on the models and traps discussed in the book – “Practicing Decision-Making”. The decision I will be reviewing in this paper is – “I decided to close down the small business venture I was operating and pursue an MBA from EDHEC”. Firstly, I will present the situation around this decision. I was operating a high end retail gaming centre – a small entrepreneurial venture I set up about two and half years ago. As this was my first exposure to business dynamics (I had an engineering background with three and half years of software development experience) - the initial six months of setting up the venture and the subsequent two years of operating it involved a steep learning curve. I faced a lot of new challenges and learnt a lot about small retail businesses while dealing with these challenges. The vision of my gaming centre was to promote the latest computer games and help improve the gaming scene in Hyderabad, India. But I was disappointed to notice that off late the game development companies were moving away from the traditional computer gaming platform to the new console gaming platform (to cut down on piracy). I realised that this would have an adverse long term effect on my centre due to the vision I had for the centre and the USP I built around it. Also, a new entertainment multiplex had come up very close to my gaming centre and even though it did not have an immediate effect on the revenue I realised that in the long term it is going...
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...manage a responsible growth. Generally speaking, I think that there is still a lot to be done and that business schools should focus more on the quality of their graduates as responsible and careful managers and not only as brilliant performers in terms of profits and earnings. (2) I don't believe that business schools alone should be accused. Of course the financial scandals of the recent years which have been orchestrated by MBA graduates have put the business schools in a bad light but this should not take us to the wrong syllogism that all the MBA graduates are irresponsible managers and excellent cheaters . By logic, not all the MBA graduates can be cheaters and lead to economic and social disasters. There is a misconception and generalisation, in my opinion, that lead to think that every student who applies for an MBA wants only to make more money and I think that this misconception is accidentally generated by the business schools when they claim in their brochures, websites, etc. how much the salaries of their graduates have raised after getting their MBA (3) I don't think they have been able to eradicate the cause of the criticism. I agree with the author when he suggests that as long as the business schools will be ranked...
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...My Decision to pursue MBA decision to start MBA is one step to reach my personal goal and in order to further my managerial career. I completed my bachlor of engineering in computer technology in 2002. I start my career as marketing executive in 2000 i.e. before completing my bachlor as I comleted my bachlor I join a software firm siliconswift software solution as software engineer but I were alwayes want to be a management person so I did what ever I can do to be a part of management team and I accomplish that goal with in two years and became a business development manager which was my first goal of carrer. After working as BDM for one year, managing development team, working with clients,etc I always feel lack of management skills, what ever I learn with siliconswift software solution is not saficient for me. I talked to my program manager Ajay Rathore and he is the first person who suggest me to go for MBA. he said that if my real goal is to a successfull manager I have to go for MBA. The decision to pursue an MBA was difficult to make and there were many factors to consider. Those factors include timing, expenses, being out of school for a long time and simply having the motivation. The rewards are endless and far out weigh the aforementioned factors. Earning a degree is important because it improves quality of life, expands knowledge, it’s a great investment towards a great career, and it gives a sense of accomplishment. After comming...
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...Pursuit of an MBA Marvin Conway MGT/521 1 April 2010 Construct and Support an Argument Decision to Pursue an MBA To some, pursuing higher education is a waste of money and time. Others, such as me, may argue that it is an accomplishment and the benefits from acquiring a degree are worth the efforts and hard work. With the current national unemployment rate at 9.7% (US Department of Labor, Feb 2010) and steadily rising, it seems improbable that finding that “ideal” job is likely. During these tough economic times, I find myself with a bachelor’s degree at a low paying job with a child to take care of. It is because of this situation that I have chosen to pursue a Master’s of Business Administration (MBA) degree with an emphasis in Accounting; receiving higher education could be the answer to my problem. According to the job outlook by education 2006-16 (Occupational Outlook Quarterly), increased earnings and lower rates of unemployment are trends associated with additional levels of education (Liming & Wolf, 2008). After taking the Jungian 16-Type Personality Self-Assessment test, scoring ISTJ, I found that my results support my decision to pursue my MBA with an emphasis in Accounting. A person scoring ISTJ are found to be organized, compulsive, private, trustworthy, and practical people. Their possible career choices are office manager, accountant, business manager, tax agent, and public servant (Pearson Prentice Hall, 2007). I recognize that I possess...
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...Whither an MBA at Strutledge Strutledge University is a small private college located on the outskirts of a large urban city. There is a need to draw more students there and the idea of bringing an MBA program is in question. There are concerns that come along with idea of having a MBA program such as: the school not being able to compete with its competitors, the decreasing value of an MBA and the students being receptive to the idea. The MBA program contains many fields and can be of a great advantage to the University. The Board of Regents must take action to see if the MBA program would be a great fit at Strutledge University. The Board of Regents need to analyze what is being proposed and think about how this new program can be beneficial for the University. The program should be in compliance and aligned with the University’s mission statement. It’s important to make sure that the MBA program goes hand and hand with the mission statement and offers the same quality of work that the other programs offer. The Board of Regents should weigh the pros and cons that come along with starting an MBA program. In order to do this, the Board of Regents will have to gather more information about the MBA program because the little knowledge that they have on the program is not sufficient enough for them to make a decision. The Board needs to see if there is really a need for an MBA program at the school and if the students can benefit from it. As stated before, the MBA program can...
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