...Research or Interview Paper Instructions You can choose 1 of the following two options for your Research or Interview Paper. Your paper will be 7 double-spaced pages for the main content (not including the cover page and reference page). Your choices include: 1. A research paper Steps for writing the research paper: a) Choose a topic in Managerial Economics. b) Submit the topic and the outline of the paper to the instructor anytime for approval. c) A minimum of 3 references besides the textbook are required. Liberty University library has excellent resources for your search for journals. http://www.liberty.edu/index.cfm?PID=178 OR 2. An interview paper Steps for writing the interview paper: a) Choose a topic in Managerial Economics. b) Design at least 5 questions according to the topic. c) Submit your questions to the instructor for approval. d) Contact a local or non-local company for an interview. e) Conduct the interview for answers to your questions. f) The paper must have 3 parts: • The description of the company; • Interview questions and answers; and • Your comments. *The research paper is to be done individually, not as a group. **Do not wait until the last module/week to work on the paper. Do it as early as possible. ***A paper that was written for other classes would not be accepted for...
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...Case Study: Chapter 8 Aaron Lambert Saint Leo MBA 540 Managerial Economics Analyzing Managerial Decisions: Leaving New York for the Farmlands of Illinois While the co-workers may be rightly supportive of the individual’s aspirations, they are likely not qualified to advise him on this matter. The individual claims to have $800,000.00 saved from bonuses at his current place of employment. Based on that information alone, it appears that he is considering walking away from what seems like a fairly secure and profitable situation at his current job and committing to a new and less certain endeavor. With reports implying that demand for corn will soar the farming proposition may seem like a good idea; however, our potential farmer needs to consider other factors. The costs associated with acquiring the land are known and estimated to be $800,000.00, but there are other costs involved that are considerable and quite fixed. He will need to purchase farming equipment and machinery, which will require much more cash upfront in addition to the land. These fixed costs definitely need to be factored into the decision but are omitted in the text. If he has a lot more of that bonus money remaining, he could purchase the machinery outright. If paying cash is not possible he will need to take up a loan, lease, or rent; either option resulting in additional expenses incurred each period. Based on an article published by the University of Illinois in 2014, corn farmers in Illinois...
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...MID-TERM EXAM - 1st Semester, 2012 |Date |Time |Course Title & Code |Room No. | |29 June, 2012 |11.00 am ~ 12.30 pm |501: Accounting System & Auditing |502 | |(Friday) | | | | |30 June, 2012 |7.00 pm ~ 8.30 pm |502: Managerial Economics |402 | |(Saturday) | | | | |06 July, 2012 |3.00 pm ~ 4.30 pm |503: Business Communication |502 | |(Friday) | | | | |07 July, 2012 |7.00 pm ~ 8.30 pm |504: Advanced Management |502 | |(Saturday) | | | | |13 July, 2012 |3.00 pm ~ 4.30 pm |503: Business Communication...
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...Impact of Macro Changes on Managerial Decisions Jones International University MBA502: Economic Theory and Applications Ciera Comstock Table of Contents [ No table of contents entries found. ] Macro-Environment Macro Environment is known as a company and all of the other actors operating in a large macro environment of forces that shape opportunities and pose threats to the company. There are major external and uncontrollable factors that influence an organization’s decision making and affect its performances and strategies. These factors include the economic, demographics, legal, political, social conditions, technological changes, and natural forces are known as the macro environment. (Johnston, 2014) Macroeconomics is intertwined with business because it is affected by all of the factors that constitutes macroeconomics. Macroeconomic is a branch of the economy that deals with certain issues that are relating to factors that affect the economy of the country as a whole. These factors include areas like the rate of unemployment, inflation, business cycles and also Gross Domestic Product (GDP). This is a big section to keep in mind when making a decision and is part of the marketing analysis. (wiseGEEK, n.d.) This environment could impact competitors, changes in interest rates, changes in cultural tastes, and also any change in government regulations. That influences a company and its’ products development. It will also change the competitors, the interest rates...
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...Knight had been Mike Krzyzewski’s basketball coach when he played for the United States Military Academy at West Point. It was there they began to build a relationship of trust and respect that would follow and remain with them throughout both of their careers and beyond, as they were also friends. Each of these men have differing ways in which they lead their teams, but there are leadership styles which they shared when it came to coaching. When taking the model which Robert Katz developed we can see there are skills that did account for their success. Coach Knight held two of the leadership traits that were professed by Katz. Those were technical skills and conceptual skills. He had the ability to know exactly was needed and how to make changes based on each individual situation. According to Katz’s model, Coach Knight did not have human skills. He was known for his roughness (e.g; using high levels of profanity and throwing objects onto the court). He did not have human kindness or humble qualities. A professional career basketball player by the name of Isiah Thomas was also coached by Coach Knight. Thomas remarked that Coach Knight was intimidating and used much profanity while coaching him. (Alford, 1990) The contrast is apparent when comparing Coach K. to Coach Knight. When examining Katz’s model, Coach K. possessed conceptual and human skills. Coach...
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...conflict scenario, the paper critically discussed various approach towards conflict resolution within and between groups. 1.0 INTRODUCTION Conflict is a normal and natural aspect of life and the working environment hardly do without one form of conflict or the other. Conflict in the workplace is a well known daily phenomenon and it is on the increase. It is worth saying that a conflict free company never existed and will never exist. Tension, cultural differences, aggressions, antagonisms, negative attitude and frustration will usually exists especially wherever men are forced to live and work together. . Burton (1972) said in his book that Conflict, like sex is an essential creative element in human relationships. It is the means to change, the means by which our social values of welfare, security, justice and opportunities for personal development can be achieved. Conflict is a never ending way of life, although varying view of it may be held. Some may view conflicts as being a negative situation that must be avoided at any cost; others may see it or use it as opportunity for personal development and try to use it to his or her advantage. Whether conflicts within an organization is viewed as...
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...Managerial Decision Making and Organizational Change Two very important aspects of good leadership include managerial decision-making and managing organizational change. The two are closely related, enough so that for one to be affective the other has to be just as successfully managed. A good leader possesses the quality of good managerial decision-making, learning from experience, creating change, diversity and creative decision-making (Hellriegel, 2011). A successful leader is also one who is organized in the process of change (Hellriegel, 2011). Today’s leaders have different challenges than managers of businesses from over a decade ago. New technology has helped coordinate structure more efficiently and improved cost performance (http://www.kmbook.com /change/). As recently as the 1980’s new stresses such as balancing with shareholders, narrowing down operating efficiency, working with world markets and an entirely new form of competition, have all increased the demand for leaders good decision making and creating organized change. The success of any business heavily relies on these two factors. One of the key factors in a successful manager managerial decision-making that relies on: learning from experience, creating change, diversity and creative decision-making (Hellriegel, 2011). Learning from experience is a vital piece of decision-making as it helps figure out what a business should and should not do again. Three pieces to this process include assessing...
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...multiple leadership styles from the commanding officers; Colonel Davenport, Brigadier General Savage, and Major General Pritchard of Pine Tree. Through Colonel Davenport, Major General Pritchard, and Brigadier General Savage at the start of the film we can see the distinct difference between their leadership styles. General Davenport shows a high concern for his navigator trying to take blame for a navigation error that was his navigator’s fault. Davenport shows a high concern for his men and a low or medium concern for production lead me to believe middleman management style. General Savage, who seems to have the exact opposite leadership style, is highly task oriented and shows little if any concern for the men of the 918th. Savage has a managerial style mimicking authority compliance. Major General Pritchard shares the same management style as Savage. Shortly after the conversation Davenport is relieved of his duty and Savage is put in control of the 918th. Pritchard and Savage are both men who believe chain of command stemming from the fact that they are in the military. According to them you must adhere to the chain of command at all times no matter the circumstances. They believe in orders and that orders should be followed exactly. Arrival at the 918th After arriving at the 918th Bomber Group, Savage is presented with a group of poorly motivated and disciplined men. He notices the lax of security at...
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...The Leadership Grid Perhaps the best-known model of managerial behavior is the Managerial Grid®, which first appeared in the early 1960s and has been refined and revised several times (Blake & McCanse, 1985). It is a model that has been used extensively in organizational training and development. The Managerial Grid, which has been renamed the Leadership Grid®, was designed to explain how leaders help organizations to reach their purposes through two factors: concern for production and concern for people (Northouse, 2007). Concern for production refers to how a leader is concerned with achieving organizational tasks. It involves a wide range of activities, including attention to policy decisions, new product development, process issues, workload, and sales volume, to name a few. Not limited to things, concern for production can refer to whatever the organization is seeking to accomplish (Blake & Mouton, 1964) (Northouse, 2007). Concern for people refers to how a leader attends to the people in the organization who are trying to achieve its goals. This concern includes building organizational commitment and trust, promoting the personal worth of employees, providing good working conditions, maintaining a fair salary structure, and promoting good social relations (Blake & Mouton,1964) (Northouse, 2007). The grid theory breaks behavior down into seven key elements such as initiative, inquiry, advocacy, decision making, conflict resolution, resilience, and critique. Initiative...
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...Running head: Leadership Styles Leadership Styles Kellie Napper Grand Canyon University LDR 600 Leadership Styles and Development September 18, 2012 Leadership Styles Leaders have many different styles and approaches they take when evolving to becoming a great leader. It takes many years of practice to perfect a craft within certain individuals. Some crafts are more defined than others; never the less these skills are done to win over individuals in work environments and major league football teams. According to Katz (1955) there are three basic administrative needs that should be present for managers to be effective which are conceptual, human, and technical. Coach K’s approach contained both conceptual and human skills. Coach K was able to come up with an approach that was comfortable for both him and the team. He did not want to come with a lot of rules that no one would follow. Growing up Coach K spent a lot of time with his family. As he became an adult his wife and children were very important to him. This is the typed of approach he took with his team. Coach K lacked in my opinion in the technical area. He was not all about a lot of drills and long practices. Coach Knight’s approach contained conceptual and technical skills. Coach Knight had very little room for error. He drilled step by step plays into his players. He believed in practicing long hours and if you could not follow the rules you would be kicked out of practice. Coach Knight taught...
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...resources management, organization change and/ or international management. It presents a discussion opportunity to evaluate the mutuality of an organizational culture and an HRD Centre. It is evident that development of HR philosophy and programs is influenced by the diversity of its workforce, and has implications on the growth and success of an organization. Finally, this case can be used to provide an example of the evolving need for change faced by global companies in their efforts to remain competitive. This case can be used to 1) Identify specific value changes precipitated by globalization in recent years 2) Increase awareness of the managerial implications of cultural as well as demographic changes for developing appropriate HR strategies and programs 3) Understand the concept of generational identities in a fast-changing economy, such as South Korea 4) Expand understanding of generational cohorts, by comparing and contrasting South Korea and the U.S. 5) Appreciate the critical importance of an organizational culture in laying the foundation of a robust HRD philosophy 6) Learn to develop solutions and HRD strategies based on a thorough analysis of an organization's environment 7) Appreciate that even strong organizational cultures need to adapt when faced with changing demographics and specific challenges This case can be taught at an advanced undergraduate or graduate-level course in human resources management, organization change and/ or international management...
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...justification for an e-business strategy. The organization must have little or no significance e-business activity now. In your discussion clearly: 1) Outline the strategy and summarize the main changes expected in the organization 2) Implementation plan should show how the changes will be achieved. 3) Identify the benefits and explain how they can be measured. 15th May, 2013 To: The Senior Manager Dear Sir, A PROPOSAL FOR THE ADOPTION OF E-BUSINESS STRATEGY IN OPERATIONS AND ACTIVITIES OF THE ORGANISATION. The rapid development within the society in the use of information and communication technology (ICT) has meant a revolution in the way businesses work, as indeed it has changed the way in which many people work. Nowadays people need to have skills and competences to be able to use information and communication technologies. The development of the knowledge society is raising demand for the key competences in the personal, public and professional spheres. The way in which people access information and services is changing, as are the structure and make-up of societies. The growing internationalization of economies affects the world of work, with rapid and frequent change, the introduction of new technologies and new approaches to organizing companies. E-business represents new ways of conducting business, where electronic networks of ...
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...fans will be banned if any electrical cord found to be cut, THATS SEEMS TO BE INSANE. As it cannot be considered as the fault of all employees, it make occur by default as well. c. Use the ceiling fans found in all the rooms to stay cooler and to help AC do its job. As well as computers turned off after 7pm would make me feel THATS FINE, as it helps to save energy. d. Recycling barrels availability throughout the building seems to be impressive idea. So employees will consider it THATS FINE Q2. Then think about any actions that you and the local managers may be able to take that will offset some of the resistance of employees. For example, can you change the dress code seasonally to make the office environment more comfortable? What changes can employees themselves make to minimize the negative effects of the changes? Answer: - To minimise negative effects of employees’ local managers will do many efforts to achieve success in this work. What they do to make environment comfortable: 1. They will give permission to each employee of...
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...1) What factors motivated Kodak to change its organizational architecture? When Kodak began making changes to its organizational architecture in 1984, its current architecture did not fit the business environment for the industry. The largest factor that motivated Kodak to make this change was increased competition and decreased market share. Until the early 1980’s, Kodak owned the film production market with very little competition. This suddenly changed when Fuji Corporation and many other generic store brands began producing high quality film as well (Brickley, 2009, p. 358). Another factor in this change was technology advancements. As technology rapidly expanded in the 1980’s, other competitors obtained the ability bring new products to market in a much shorter timeframe (Brickley, 2009, p. 358). Film and related products became more readily available, resulting in a more competitive film production industry. With this changing market environment and technological advancement, Kodak lost its monopoly in the film production market and was forced to make a change. 2) What mistakes did Kodak make in changing its architecture? In order to regain some of its lost market share, the company made some rapid and unbalanced changes to its architecture. However when making changes to one area of the company, it failed to coordinate the changes to other areas. In 1984, the company restructured and changed its decision making process to become more decentralized. As a...
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...motivated Kodak to change its organizational architecture? There were several factors that motivated Kodak to change its organizational architecture. For many years Kodak owned the market and there was very little to no competition. Quite suddenly they found that they had many strong competitors which took its toll on Kodak’s market share. In addition, technological advancement made it easier for the competition to get their products to the market. As a result of these changes, Kodak saw its stock prices decrease substantially. 2. What mistakes did Kodak make in changing its architecture? There is not a lot of information about the particulars of all that went in to the architecture changes that went on at Kodak. One can assume from the information given that they made two very large changes to their architecture in a very short amount of time. Decentralizing decision was a large change. It would have been necessary to have a control system in place for a change like this and yet that change didn’t seem to happen for three years. When Kodak changed to the MAPP, again they were lacking the balance that was needed for that system to work. 3. What might it have done differently? As with any change the one thing to keep in mind is balance. They should have made sure that the changes they were making were balanced. Decision makers need to make sure that they are remembering the “three legs of a stool” principle when making major changes. Decision rights,...
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