Principles of Management
OER 2019 Edition
ISBN: 9780998625768
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 2.2, Problem 1CC
Explain the two systems used by the brain in decision-making.
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List the information that a customer relationship management system (CRM) can provide to ones business
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Read the following extract and then answer the questions that follow
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The most important task is to know what to measure. Determining the key metrics for your
company is critical. Otherwise, all the data gathering, mining and analysis you do are worthless.
Your key metrics are the numbers that you track regularly to keep improving your business. The
specific metrics varies from business to business. They could include financial numbers like
revenue, costs, cash, and profit. But they should include other numbers as well.
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may have a negative impact on your business.
a) Outline measure to avoid using on your business (5 marks)
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provide to your business. (10 marks)
d)…
Read the following extract and then answer the questions that follow
Research plans depend on the type of information you need and the resources that are available to
you and your company. Often, organization members want to know everything about their
products, services, programs, etc. Your research plans depend on what information you need to
collect in order to make major decisions about a product, service, program, etc. Usually, you're
faced with a major decision for one reason or another (e.g., ongoing complaints from customers,
the need to convince funders to loan money, unmet needs among customers, the need to improve
an internal process, etc.)
Required
Part A
Write short notes on Questionnaires under the following subheadings
a) Purpose (2 marks)
b) Importance (4 marks)
c) Shortcomings (4 marks)
Part B
Write short notes on Interviews under the following subheadings
a) Purpose (2 marks)
b) Importance (3 marks)
c) Shortcomings (3 marks)
Chapter 2 Solutions
Principles of Management
Ch. 2.1 - What challenges does New Belgium Brewery face in...Ch. 2.1 - Can you think of any other examples of companies...Ch. 2.1 - Would you like to work for an organization that is...Ch. 2.1 - What are some positive outcomes of decision-making...Ch. 2.1 - How is managerial decision-making different from a...Ch. 2.1 - In addition to the owners of a business, who are...Ch. 2.2 - Explain the two systems used by the brain in...Ch. 2.2 - What is emotional intelligence, and why is it...Ch. 2.3 - Give an example of a programmed decision that a...Ch. 2.3 - Give an example of a nonprogrammed decision.
Ch. 2.3 - What are heuristics, and when are they helpful?Ch. 2.3 - How are programmed and nonprogrammed decisions...Ch. 2.4 - Do you think a culture focused on learning makes...Ch. 2.4 - What are the advantages of a culture that...Ch. 2.4 - The job of CEO means making big decisions that...Ch. 2.4 - Explain the concept of confirmation bias.Ch. 2.4 - List and describe at least three barriers to...Ch. 2.4 - When is conflict beneficial, and when is it...Ch. 2.5 - If you were faced with an ethical dilemma, from...Ch. 2.5 - Describe some decisions that might be good for an...Ch. 2.5 - What factors would you take into consideration if...Ch. 2.5 - Explain what satisficing is and when it may be a...Ch. 2.5 - What are the six steps in the decision-making...Ch. 2.5 - What are the four steps involved in ethical...Ch. 2.6 - Explain why group decision-making can be more...Ch. 2.6 - What are some things that can prevent groups from...Ch. 2.6 - As a manager, what can you do to enhance the...Ch. 2 - What are some of the factors that enabled to Jen...Ch. 2 - What are the two systems that the brain uses in...Ch. 2 - What is a heuristic, and when would it be...Ch. 2 - What is confirmation bias? Explain how it can be a...Ch. 2 - What is a logical fallacy?Ch. 2 - What are the two types of conflict? Which one is...Ch. 2 - What are the steps in the decision-making process?...Ch. 2 - What can individuals do to improve the quality of...Ch. 2 - What can groups or group leaders do to improve the...Ch. 2 - What are the benefits of decision-making in a...Ch. 2 - Why do you think vinyl records are appealing to...Ch. 2 - Do you think the sales growth will continue to be...Ch. 2 - What research would you want to conduct prior to...
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- Are frequency distributions the only methods that researchers use to organize data? Yes or No Discussarrow_forwardAre frequency distributions the only methods that researchers use to organize data? Yes or No Discussarrow_forwardAre frequency distributions useful to organize data? Please discuss and provide examples where necessary.arrow_forward
- 6. The first step in starting the research process is.. a) Searching for solutions to the problem b) Identification of the problem c) Survey of the related literature d) Searching sources of information to locate problem 7. Which of the following is NOT a form of nonrandom sampling? a) Quota sampling b) Purposive sampling c) Snowball sampling d) Convenience sampling 8. The ability to generalize the results of a study is related to.... a) External validity b) Manipulation c) Internal validity d) Predictive validity 9. Which of the following is of least concern to a qualitative researcher? a) trustworthiness b) Validity. c) Generalizability d) Understanding 10. The most important consideration in selecting a sample is that it should be........ a) Selected from a large number of individuals or elements b) Selected from the population by means of a table of random numbers c) Made up of a large number of subjects d) Representative of the populationarrow_forwardQuestion 4 Outline some suggestions regarding how to word interview questions. (10 marks)arrow_forwardQuestion 3 But even with the best survey and the best results, action won't happen on its own. Your task as a business owner is to make sure the results are used. What can you do to make this happen? (8 marks)arrow_forward
- Outline the steps to follow when starting to create the business report. (6 marks)arrow_forward7. Which of the following is NOT a form of nonrandom sampling? a) Quota sampling b) Purposive sampling c) Snowball sampling d) Convenience sampling 8. The ability to generalize the results of a study is related to......... a) External validity b) Manipulation c) Internal validity d) Predictive validity 9. Which of the following is of least concern to a qualitative researcher? a) trustworthiness b) Validity c) Generalizability d) Understanding 10. The most important consideration in selecting a sample is that it should be.... a) Selected from a large number of individuals or elements b) Selected from the population by means of a table of random numbers c) Made up of a large number of subjects d) Representative of the populationarrow_forward6. The first step in starting the research process is.. a) Searching for solutions to the problem b) Identification of the problem c) Survey of the related literature d) Searching sources of information to locate problem 7. Which of the following is NOT a form of nonrandom sampling? a) Quota sampling b) Purposive sampling c) Snowball sampling d) Convenience sampling 8. The ability to generalize the results of a study is related to.... a) External validity b) Manipulation c) Internal validity d) Predictive validity 9. Which of the following is of least concern to a qualitative researcher? a) trustworthiness b) Validity. c) Generalizability d) Understanding 10. The most important consideration in selecting a sample is that it should be........ a) Selected from a large number of individuals or elements b) Selected from the population by means of a table of random numbers c) Made up of a large number of subjects d) Representative of the populationarrow_forward
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