...PART A- Exploratory Data Analysis Introduction & Overview AJ Davis is a department store chain, which has many credit customers and wants to find out more information about these customers. The total sample set of 50 credit customers is selected with data collected. The below data was provided in order to perform the analysis. 1. Location: a. Urban b. Suburban c. Rural 2. Income 3. Household Size (number of people living in the household) 4. Years (the number of years that the customer has lived in the current location) 5. Credit Balance (the customer’s current credit card balance on the store's credit card) Individual Variables Five individual variables were provided for review: Location, Income, Household Size, Years, and Credit Balance. Below is a statistical analysis summarizing the key points referencing Location, Income and Credit Balance. Variable: Location The location of AJ Davis’ customers is distributed between three classes of urban, suburban and rural areas. Of the total number of customer locations in the sample set of 5; 13 are located in rural, 15 in suburban and 22 in urban locations. The pie chart shows that just less than half of all AJ Davis’ customers live in urban (44%) areas, yet customers that live in rural (26%) and suburban (30%) areas are relatively evenly distributed. The rural and suburban areas combine to compromise 56% of AJ Davis’ credit customer base in which they are interested in. This should be useful information to AJ Davis...
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...Term Paper Guideline STAT 500 Length: Less than 1500 words Format: Cleanly typed Students are required to write an article describing a statistical method that will solve a business or management problem; or an creative approach that mainly rely on statistical methods that would advance the current practice. The statistical method involved may or may not relate to statistical concepts or methods covered in the course. Students are encouraged to conduct their own literature research. Information collected from books, magazines or newspapers are acceptable, including any of those found in UNVA’s eLibrary. Students could invent their own practical and feasible solutions to some real issues they experience in their work, though not required. The article should describe well the background of the problem and each of the steps in solving the problem. The length of the article should be within 1500 words; visual aids, such as tables, charts, graphs should be included where necessary. Some business statistics applications example include • Select profitable stocks • Detect fraudulent claims • Score an applicant’s credit • Discover cross-selling opportunities for products • Quantify drug efficacy • Forecast new product sales • Discover new customers • Recognize objects in images • Verify identity through biometrics; and • Anticipate shifts in market sectors for hedge funds • Set individual...
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...statistical method that will solve a business or management problem.Term Paper Guideline STAT 500, Summer, 2011 Due Date: September 18, 2011 Length: Less than 1500 words Format: Cleanly typed Students are required to write an article describing a statistical method that will solve a business or management problem; or an creative approach that mainly rely on statistical methods that would advance the current practice. The statistical method involved may or may not relate to statistical concepts or methods covered in the course. Students are encouraged to conduct their own literature research. Information collected from books, magazines or newspapers are acceptable, including any of those found in UNVA’s eLibrary. Students could invent their own practical and feasible solutions to some real issues they experience in their work, though not required. The article should describe well the background of the problem and each of the steps in solving the problem. The length of the article should be within 1500 words; visual aids, such as tables, charts, graphs should be included where necessary. Some business statistics applications example include • Select profitable stocks • Detect fraudulent claims • Score an applicant’s credit • Discover cross-selling opportunities for products • Quantify drug efficacy • Forecast new product sales • Discover new customers • Recognize objects in images • Verify identity through biometrics; and • Anticipate shifts in market sectors...
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...Psychology in the Business World: The Opportunities and Challenges for a Psychology Major 1. Background of the Study 2.1 How can psychology be defined? Ciccarelli and White (2012), defines psychology as the “scientific study of behavior and mental processes”. Merriam-Webster dictionary (2014), on the other hand, defines psychology as “the science of mind and behavior”. It generally is a field that revolves about how and why a living thing act and behave and the processes in the mind that comes with the behavior. The American Psychological Association (2014) furthermore defines psychology as a study concerning the mind and behavior of the human being, involving everything from how the brain functions to why a certain person behaves. Basically, psychology is a field that studies human and their behavior with the goal of analysis on the mind as to why their behavior is such. 2.2 What are the uses of psychology in the business world? Psychology can be used in the business world by means of helping the employees achieve their optimum performance level and still be happy about their job (Society for Industrial and Organizational Psychology, Inc. [SIOP], 2014). Psychologists work in the human resources department, in the managerial department, in the administration, and more. It is use to develop and utilize an employee’s ability to perform even better at his job. Psychology is used to ensure harmony amongst the people in the organization. It is also concerned...
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...THE Professional Practice S E R I E S James W. Smither Manuel London EDITORS Performance Management Putting Research into Action A Publication of the Society for Industrial and Organizational Psychology Performance Management The Professional Practice Series The Professional Practice Series is sponsored by The Society for Industrial and Organizational Psychology, Inc. (SIOP). The series was launched in 1988 to provide industrial and organizational psychologists, organizational scientists and practitioners, human resources professionals, managers, executives and those interested in organizational behavior and performance with volumes that are insightful, current, informative and relevant to organizational practice. The volumes in the Professional Practice Series are guided by five tenets designed to enhance future organizational practice: 1. Focus on practice, but grounded in science 2. Translate organizational science into practice by generating guidelines, principles, and lessons learned that can shape and guide practice 3. Showcase the application of industrial and organizational psychology to solve problems 4. Document and demonstrate best industrial and organizationalbased practices 5. Stimulate research needed to guide future organizational practice The volumes seek to inform those interested in practice with guidance, insights, and advice on how to apply the concepts, findings, methods, and tools derived from industrial...
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...Professional Practice S E R I E S THE James W. Smither Manuel London EDITORS Performance Management Putting Research into Action A Publication of the Society for Industrial and Organizational Psychology Performance Management The Professional Practice Series The Professional Practice Series is sponsored by The Society for Industrial and Organizational Psychology, Inc. (SIOP). The series was launched in 1988 to provide industrial and organizational psychologists, organizational scientists and practitioners, human resources professionals, managers, executives and those interested in organizational behavior and performance with volumes that are insightful, current, informative and relevant to organizational practice. The volumes in the Professional Practice Series are guided by five tenets designed to enhance future organizational practice: 1. Focus on practice, but grounded in science 2. Translate organizational science into practice by generating guidelines, principles, and lessons learned that can shape and guide practice 3. Showcase the application of industrial and organizational psychology to solve problems 4. Document and demonstrate best industrial and organizationalbased practices 5. Stimulate research needed to guide future organizational practice The volumes seek to inform those interested in practice with guidance, insights, and advice on how to apply the concepts, findings, methods, and tools derived from industrial and organizational psychology...
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...Code of Ethics Bus/210 Friday December 12, 2013 Jeannette Lipford This code of conduct will help guide the ethical business practices of all persons and employees of Angie’s Computer Repair Service. These codes will define the responsibilities for each and every employee of Angie’s Computer Repair Service. by protecting our business reputation as ethical and a reliable Computer Repair Service. As a company we will comply with all the state and local laws, Employees will conduct themselves in a professional manner when dealing with company business. Employees will not discriminate against one another do their gender, race, religion, or beliefs we will be treated fairly and equally. There will be a zero tolerance for harassment of any sort whether it is intentional or unintentional. All employees including myself must be able to depend on each other’s truthfulness as well has have the ability to be able to step up and bring issues and concerns to the proper people. We will strive to provide excellent customer service to our clients. Employees will do what is in the best interest of the company to help the company to continue to grow and gain new business. Failing to protect the company’s interest along with our affiliates may result in suspension and or termination. We here at Angie’s Computer Repair Service pride ourselves on maintaining our good reputation within the community. Therefore these rules will be the standard functions of our good business practices;...
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...Ethics and Social Responsibility in Strategic Planning Corporations when faced with difficult decisions have to keep in mind that the decisions that need making not only affect the corporation and the employees that work for the corporation, but it affects the corporations' stakeholders, and the public communities. The decisions made still need to keep the best interest of everyone involved without losing more of the corporation than what needs to be lost. The role of ethics and social responsibility Corporations have a great deal of responsibility to their stakeholders to make the best decisions for them as possible. However, the decisions should not be unethical that the reputation of the corporation is jeopardized. "Ethical responsibilities of an organization's management are to follow the generally held beliefs about behavior in society (Wheelen and Hunger, p. 58)." The courtesy to the community and the stakeholders of informing those affected of layoffs, closing business, or any other act that directly affects those involved is not required but expected on a society thought basis. This act allows the people to adjust to the upcoming events gradually as oppose to suddenly and prevents anger and hostility toward the corporation. This is the portion of the social responsibility that the corporations have to the community where making a profit isn't as important as how the affects of dramatic change can take a toll on the communities that rely on the business for their needs...
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...Unethical Business Research Richard Jones RES/351 Business Research December, 10, 2012 Harold D. Van Alstyne, Ph.D. Unethical Business Research Government contracts with the Department of Defense are some of the most lucrative contracts available to private businesses. If an organization has the fortune of landing one, it can turn an average income business into a large moneymaker for years to come. In the competitive world of aviation, these contracts are even more lucrative. Competition is fierce, and any advantage that can be gained is used. Unfortunately, sometimes these advantages come with unethical consequences. In 2003, an incident took place between two of aviation’s heavyweight contractors, Boeing and Lockheed Martin. At stake was a large contract to build Launch vehicles for the Department of Defense, in this case specifically the United States Air Force. It was alleged that Boeing gained access to company records and information belonging to Lockheed Martin. The records contained cost estimates and other financial and production information pertaining to the project. Boeing purportedly used this information to adjust their own project estimates which in turn made them more competitive in the contract negotiations with the United States Air Force. Boeing was also involved in another incident during 2003 in which Boeing was involved in leasing aircraft...
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...Abstract The purpose of this week’s assignment was to read three peer reviewed/scholarly journals and compare and contrast each author’s ethical perspective. The articles were: What is Business Ethics by Peter F. Drucker, 1981, The Social Responsibility of Business is to Increase its Profits by Milton Friedman, 1970 and The Relevance of Responsibility to Ethical Business Decisions by Patrick E. Murphy, 2010. Ethical Perspectives of Friedman, Drucker and Murphy Peter F. Drucker is known as the man who invented management. Drucker wrote many books on management and influenced the way business and industry thinks about management. “Peter F. Drucker was a writer, professor, management consultant and self-described ‘social ecologist,’ who explored the way human beings organize themselves and interact much the way an ecologist would observe and analyze the biological world (Drucker Institute, 2013).” Drucker’s paper from 1981, or 32 years ago, was trying to answer the same questions which today’s business society and government are trying to answer: What is business ethics/social responsibility and who is responsible for both? These are difficult questions to answer and questions which Drucker sets out to answer in Casuist, Ethics of Prudence and Confucianism. “Business ethics undoubtedly is a close parallel to casuistry. Its origin is political, as was that of casuistry. Its basic thesis, that ethics for the ruler, and especially...
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...Business Ethics across Cultures Article Review XMGT/216 3/24/13 Jennifer Moore Globalization is a process which has taken place since the first traders and merchants began visiting other countries to bring food and goods back for sharing with their country. Countries take pride in sharing their culture and perspectives with any person whom enters their country. In today's economy we have the Internet, and the use of digital information to help focus on globalization. The updated technology helps create a well-planned business strategy for merging with organizations in different organizations. Creating a business transaction with organizations is difficult because most countries have different religious beliefs, they eat different foods, and speak a different language, and this becomes a difficult task to accommodate to what people of other countries are wanting from the business transaction. Organizations that choose to work with companies in other countries make take caution in how they communicate with one another. Through time organizations doing business with other countries have begun taking all steps necessary to make business transactions with international businesses. Many large corporations have begun doing successful transactions with other large corporations, and governments of various countries have begun working together to help better businesses throughout the world. If two international businesses choose to combine practices to better both parties involved...
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...Discussion Board Forum 1 Adrian R. Castaneda Liberty University BUSI 620 Global Economic Environment Dr. Virgil Mensah-Dartey October 24, 2013 DB FORUM 1 Question 3 Unethical behavior and unlawful behavior are different in a sense that unethical behavior violates integrity, while unlawful behavior violates established laws. When discussing unethical behavior in the business context, one should consider the overall focus of a business; maximize profits for shareholders and owners. The way a business operates to make money can be treated as ethical or unethical. An unethical type of practice in the business world can consist of a business that is determined to make a profit without considering the morale and comfort of their employees (Svensson & Wood, 2008). By failing to have happy employees in your business and over working them to make a profit can cause an ethical dilemma as the employee can see this type of business operation as a way of prioritizing profit over the employee morale. According to Thomas, Schermerhorn & Dienhart (2004) unlawful behavior is actions that breaks established laws or rules that control business practices. This type of behavior can be easier detected over unethical behavior because by violating unlawful behavior, the individual or individuals are violating written laws. For example, giving away insider trading information on a new medicine is a type of unlawful behavior in the business context. Businesses have written guidelines...
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...Objective 310.2.3-08 I and two other individuals have decided to start a company that will provide management consulting services to nonprofit organizations. The company will have 15 to 20 employees. Since many of our clients will be paying with funds provided by government sources, we have decided it would be appropriate to have an ethics program in place before we start offering services. A company must have an effective ethics program to ensure that all employees understand its values and comply with the policies and codes of conduct that create its ethical culture (Ferrell, Ferrell & Fraedrich, 2008, p. 211). In order to develop an effective ethics program, it must contain certain items. It must first have a code of conduct to establish what is and is not acceptable behavior and to set a general corporate tone as to how employees are expected to conduct themselves. Second, it should have a high level corporate officer in charge of the program. This will also help demonstrate the importance of ethics to the corporation. Third, an effective and ongoing ethics training program is necessary to ensure all employees are aware of what is expected of them. Fourth, a system to monitor and enforce ethical standards must be in place in order to hold employees accountable for their actions and lastly, it must have a mechanism to modify and improve the program when deficiencies appear. When developing our code of conduct, we will use a values orientation instead of a compliance...
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...Ethics in Business BUSN310 1302A 03 International Legal and Ethical Issues in Business Eric Baime May 5, 2013 How would you effectively present the issue of potentially defective products to the CEO, other directors, and managers? In effectively presenting issues of potentially defective products to the CEO, directors, and manager, it would be necessary to have data supporting the negative pattern of growth for each product. Further, showing evidence to support the hazards to the consumer and how the product may respond if it was on the market. A true manager will want proof, and by presenting factually sound evidence will open their ears to listen and believe you, which in turn will assist them in making the necessary decisions. Furthermore, putting together a power point presentation to show the ineptitude of the present product(s) and perhaps allow the consumer to voice their concerns before the management team. By taking the extra step will demonstrate to the management team that you support them and desire to see success, which in return will prevent them from terminating you for speaking out and voicing your opinion. How would you specifically notify customers of such an occurrence? To effectively notify the customers of such an occurrence, it would be necessary for the CEO to put together a letter of explanation. Each consumer would find out by either email, regular mail, or the media. Further, the company can post all the necessary details on their website...
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...What is Organizational Psychology? Beyounka Bonner PSYCH 570 March 2, 2014 Dr. Vicki Koenig What is Organizational Psychology? According to Britt and Jex (2008), organizational psychology is grounded in scientifically studying one’s behavior and interactions that one has within the workplace, as well as other organizations. Organizational psychology has an extreme effect on a company’s success rate; it has an impact on a company’s work performance, gratification, security, healthiness, and overall well-being of a company’s employees. Research on employee’s behaviors and assertiveness, methods on how improvements can be made to the company’s hiring process, training programs, and managerial coordination are all conducted by organizational psychologists. Organizational psychologists assist organizations in transitioning through different times of adjustments, growth, and developments. There are many factors that may influence the way in which one behaves in an organization, such as, the structure of an organization, societal norms, managing styles, and the expectation of different roles. Although the field of organizational psychology is indebted to the study of organizations that are formal, it is not to say that the organization will always be one that is a business or that is one for profit; which is a common misconception about this field (Britt & Jex, 2008). This essay will explore the field of organizational psychology. Evolution of Organizational Psychology ...
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