...CHAPTER 1—WHAT IS ECONOMICS? MULTIPLE CHOICE 1. The basic problem of economics arises when there are unlimited resources available to fulfill society's limited wants. a.|True| b.|False| ANS: B PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs, and opportunity cost TOP: Scarcity and Individual Choice KEY: Bloom's: Knowledge 2. Economics is the study of choice under conditions of a.|demand| b.|supply| c.|scarcity| d.|opportunity| e.|abundance| ANS: C PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs, and opportunity cost TOP: Scarcity and Individual Choice KEY: Bloom's: Comprehension 3. The study of economics would be superfluous if __________ did not exist. a.|demand| b.|capital| c.|corporations| d.|profit| e.|scarcity| ANS: E PTS: 1 DIF: Difficulty: Moderate NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs, and opportunity cost TOP: Scarcity and Individual Choice KEY: Bloom's: Comprehension 4. Which of the following disciplines is not a social science? a.|psychology| b.|mathematics| c.|economics| d.|political science| e.|sociology| ANS: B PTS: 1 DIF: Difficulty: Moderate NAT: BUSPROG: Analytic STA: DISC: The Study of economics, and definitions in economics TOP: Scarcity and Individual Choice KEY: Bloom's: Comprehension 5. What does economics have in common with sociology? a.|Economics and sociology ask fundamentally the same questions...
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...Ques1. “In the innovation economy, the network will be the value innovation engine”. Provide an insightful review of the meaning of the statement along with at least two examples. An economy which is characterized by intangible assets like knowledge, innovative capabilities, technology and entrepreneurship are positioned at the centre of the model rather than as independent forces is the Innovation Economy. In such an economy, the key ingredient is the network. The main objective of the innovation economy is to boost higher productivity and lessen the prices. But the real problem with the objective is that it needed a proper collaboration between all the four forces. Network is the real bridge between the four forces which drives the innovation economy. The source of knowledge, the communication of technology, the idea of entrepreneurship and the driver of innovation is nothing but the Network. The perceived value of a user can be known through Network. In short, the innovation economy is driven entirely by network. Without network, the resources and communication could have been nearly impossible as they drive the innovation. And hence network is the value innovation engine for the innovation economy. From the above image, it is very clear that with the advancement in technology and increased pace of information sharing, the global boundaries have reduced and more or less turned blurry. The network is becoming stronger day by day and thus leading to a unique value innovation...
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...com/cgi/alerts Subscriptions: http://org.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.com/journalsPermissions.nav Citations: http://org.sagepub.com/content/18/1/23.refs.html >> Version of Record - Feb 11, 2011 OnlineFirst Version of Record - Jul 15, 2010 What is This? Downloaded from org.sagepub.com at Sheffield Hallam University on January 18, 2014 Article Organization 18(1) 23–44 © The Author(s) 2011 Reprints and permission: sagepub. co.uk/journalsPermissions.nav DOI: 10.1177/1350508410372151 http://org.sagepub.com Ways of constructing research questions: gap-spotting or problematization? Jörgen Sandberg Mats Alvesson UQ Business School, University of Queensland, Australia Department of Business Administration, University of Lund, Sweden Abstract This article examines ways of constructing research questions from existing literature, which are likely to promote the development of interesting and influential theories. We review 52 articles in organization studies and develop a typology of how researchers construct their research questions from existing literature.The most common way across paradigmatic camps is to spot various ‘gaps’ in the literature and, based on that, to formulate specific research questions. The dominance of gap-spotting is surprising, given it is increasingly recognized...
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...Five Learning Disciplines... In 1990, Peter Senge published "The Fifth Discipline" (later followed by "The Fifth Discipline Fieldbook: Strategies and Tools for Building a Learning Organization" in 1994). His books pulled together his extensive research into what different organisations do to build learning capacity – and why some organisations use learning better than others. Senge codified these practices into what he called 'The 5 Learning Disciplines' as well as coming up with the concept-label of 'learning organisations'. The 5 Learning Disciplines – Shared Vision, Mental Models, Personal Mastery, Team Learning and Systems Thinking – are each made up of a set of tools and practices for building and sustaining learning leadership capability in organisations. Each Discipline consists of: | Principles, propositions or concepts (Senge calls these ‘guiding ideas’) | | Tools or techniques that, once learned and practised, assist in making the Disciplines come to life | | Practices or precepts to follow in your own leadership behaviour and approaches | According to Senge, leaders in learning organisations learn to thrive on change and constantly innovate by methodically cultivating these 5 Disciplines. They may never be fully mastered, but learning-centred leaders, teams and organisations practise them continuously. Our approach to workplace improvement and learning-centred leadership is based firmly in the values, concepts, principles and language of learning organisations...
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...Abstract / Proposal The purpose and frame for this study is to look at the various MBA programs in three types of colleges: state, private and for profit. The schools we selected for the study consist of Boise State University, Tulane University, and University of Phoenix. Time Frame The Time frame of the study will be November 11, 2013 through November 25, 2013. Data Collection Methods The study relies on personal accounts, student observations, and voluntary surveys. Interviews will also be conducted will local business leaders in order to give a secondary view on the appropriate school and gain an understanding of how they view the MBA program for a professional standpoint. In addition to conducting the personal accounts mentioned above the study will also incorporate research using the library, and internet (only professional and academic sources) to analyzing trends and patterns to try to determine which MBA programs will be more widely accepted in the business community. Also which students surveyed report they are the happiest, state, private, or for profit. We also intend to narrow the decision making process for students when they are considering an MBA. Research Questions The study looks at the overall organizational structure at each MBA program. Evaluate the mission statement of the organizations to determine if the respective organization is living up to their promises. We will look at how the three different programs differ, how they are alike, and provide support...
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...action that promises a winning future position. Systematically using all the available resources to achieve success is termed as ‘Strategic’. Any thinking in line with the goal or mission to achieve ‘that’ success is called ‘Strategic thinking’ Other sources have quoted it little differently. • “Formulates effective strategies consistent with the business and competitive strategy of the organization in a global economy. Examines policy issues and strategic planning with a long term perspective. Determines objectives and sets priorities. Anticipates potential threats or opportunities.”1 • “Strategic Thinking is a broader and more innovative way of thinking on a daily basis about the overall goals of your job, team, and organization. It is longer-term oriented with a more systemic and holistic view of your environment.”2 • “Strategic thinking is defined as the generation and application of business insights on a continual basis to achieve competitive advantage.”3 • “Strategic thinking involves thinking and acting within a certain set of assumptions and potential action alternatives as well as challenging existing assumptions and action alternatives, potentially leading to new and more appropriate ones.”4 • For Ralph Stacey (1992), strategic thinking is “. . . using analogies and qualitative similarities to develop creative new ideas . . . (and) designing actions on the basis of new learning.”4 • “Strategic thinking is the way in which people in an organization think about...
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...Critical Thinking Application Paper Critical Thinking Application Paper University of Phoenix April Armstrong Instructor Karen Amabile Date August 3, 2009 Critical Thinking Application Paper Critical thinking can be described as identifying and challenging assumptions and exploring and imagining alternatives. The idea of not having critical thinking would be to believe everyone no matter what they are saying. Everyone would believe all the commercials on television, any politicians who are giving his or her election speeches, all reading material that is read, and it must be correct if certain organizations are doing it. Critical thinking has eight main components that are known as perception, assumptions, emotion, language, argument, fallacy, logic, and problem solving. Perception is the how an individual receives or explains our personal experiences and how it is received interprets what that person thinks about a certain situation. This can vary from individual to individual. Assumptions in critical thinking are ideas about human nature that are evidence without proof of argument. The assumptions are what people believe to be true and make a person feel comfortable in his or her beliefs. Presenting the choice between two possibilities is an important feature of thinking critically. Emotion is another component in critical thinking that should not be involved even though it is always there. Emotions help individuals to understand all the issues...
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...important and significant concerns of all businesses. It is because employee’s performance has direct impact on the business performance and success of the company. According to McCormick (n.d) there are different methods that can be used by a company to improve its employee’s performance such as motivation strategy, employee training and performance management. However, this essay will not discuss about the mentioned methods but to focus on the goal setting method. The main purpose of this essay is to analyze the impact of goal setting in improving employee performance as well as to make some recommendations to enhance the implication and effectiveness of goal setting strategy. Goal setting analysis The manager of the Human Resource department of the company has listed the four key points of goal setting strategy which are: * Goal setting process * Types of goals * Levels of goals * Interim review and feedback This part of the essay will analyze these four key aspects of the goal setting strategy by indicating evidences from previous research and journal articles. Following is the analysis of four key points of the goal-setting strategy. Goal setting process The explanation of the goal setting process from the point of view of the manager is that employees will “be assigned” “specific goals” from managers based on the company’s business performance and annual plan. So in this part of the essay, there will be two important questions that need to be addressed: ...
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...searches for change, responds to it, and exploits it as an opportunity. Can anyone be an entrepreneur? The answer is no. But with access to capital, minimum education facility and own creativity, many intelligent, energetic youth can be turned into a decent business people. In our country, the term for an entrepreneur is a 'businessman,' which carries with it a set of negative connotations. The assumption is that one goes into business if one cannot be a banker, doctor, engineer, lawyer, professor or a corporate worker. In movies, businessmen are portrayed as crude, immoral people. In day-to-day life, a businessman is only considered successful if he can achieve conspicuous display of wealth. For students who care about how the world works, they need to be understood how one’s career can help us to know what goes on in the world and how education and knowledge can be used as practical tool for decision making. Career development is one’s dream everybody likes to achieve throughout his life. Prefer to be a business executive of a business organization is an option one can chose. Different logics and interest can be drowning behind the preference. As business dominates the world. It is easy to prefer to be an executive of business organization. Because at a time it gives prestige and wealth for which one should strive for. Background of the study: This assignment report is prepared for the fulfillment of MBA program requirement. Entrepreneurship development study encompasses...
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...and basic taken for granted assumptions. ‘Shared values’:- • All group learning reflects the original values • Those who prevail influence group: the leaders • It first begins as shared value then becomes shared assumption • Social validation happens with shared learning • Initially started by founder, leader and then assimilated The organisational culture in Alphabet Games in terms of ‘shared value’ is invention. Example from the case study to support this is that “they have extensive experience in software development and have developed a word renowned reputation for excellence, quality and innovation. Basic ‘taken for granted’ assumptions’ in a culture involves:- • It evolves as the solution to a problem is repeated over and over again • The hypothesis becomes reality • To learn something new requires resurrection, re-examination, frame breaking • Culture defines us o What we pay attention to o What things mean o React emotionally o What actions to take The organisational culture in Alphabet Games in terms of basic ‘taken for granted’ assumptions is passion. Example from the case study to support this is that “passion for software development still exists within the company as strongly as it did when it was established. Technology and consumer needs have driven the business forward and it is the continued posit of innovation, quality and excellence that has enabled the business to grow and succeed through challenging times.” Using a recognised...
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...Introduction In this paper, an assumption that "with higher degree of trust in subordinates, subordinates will have a higher degree of job satisfaction" is made. This assumption is based on the theory of leadership and motivation. According to different level of trust in his subordinates, superiors will apply different types of course in leading and this difference will cause divergence in the subordinates' return. If the returns are intrinsic factors, job satisfaction will be created. If the returns are extrinsic factors, job satisfaction will not change. Job satisfaction has different but similar definitions. Locke (1976) stated that" job satisfaction is a pleasurable emotional state resulting from the appraisal of one job." Latham (1990) believed it is "a pleasing or optimistic psychological state ensuring from the appraisal of an individual's job or job acquaintance." Edwin (1990) defined that is an outcome of stuff member's opinion of how well their job delivers those things that are viewed as important." In the paper, job satisfaction will be simply defined as a sense of happiness or content of an individual towards his job. In this paper, the relationship between leadership and trust will be discussed by Behavioral Theory(both University of Iowa studies and Ohio State studies) and Path-Goal Model first and then the impact of the job satisfaction because of different returns will be discussed by Two factors theory, Maslow's Hierarchy of Need Theory and Job Characteristics...
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...managers to understand and accept a diversity of cultures and traditions for all the stake holders of different areas: staff, consumers, partners, rivals and local administration authority, as modern management concept. Utilizing cultural intelligence delicately can assist exploring endless resources, hidden in the social communication of the sophisticated nature of business. As every individual is inherited with different education, experiences and culture, accompanied by advantages and divergence, it is only necessary to properly manage them. Leaders should prompt to achieve the target goal by means of global cultures based on modern management capacity as well as religion, social customs: innovative management models based on integration of diverse culture: and adjusting existing practising principles with varied culture. Even though the development of all these approaches are some of the characteristics of each manager reflecting mutual understanding, inspiration and innovation, most of them heavily rely on the cultural quotient. In brief, beliefs, values, perceptions, expectations, attitudes and assumptions derived from IQ and EQ are on the other hand, getting along with Cultural Intelligence occurred in his or her social environment of regional, national, economic and livelihood. In general, culture is mainly concerned with beliefs and values, of individuals and groups, based on definitions of people’s behaviour and experiences. A widespread simplification of the meaning...
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...unworthy and effete practices that had accumulated around and above the standards and had consequently dimmed their effectiveness. Having the chance to be the CEO for three months, unleash the ringing bell for me to begin framing my skills in top management, and the optimal chance to express my vision about successful leadership, and the innovation of strategic plan, structure make-over, culture re-formulating, adaptive challenges and perpetual change. The mission is extremely difficult, delicate and challenging; it’s obvious that I will not have the enough time to accomplish all my goals, overwhelmed by management stress and change pressure. However, three months could be enough to inculcate the trend for change amid the employees and equally implement this trend in the system. What is more harmful then failure is to ignore it and continue in practicing the same mistaken activities. Change must be integral, and actions have to be implemented effectively in processes, employees’ assumptions, company’s culture, management’s behaviors and hierarchical design, it must rationally inspire the company’s vision. Two major mottos will prevail my plan for change: fighting the violation of the rules and build a complete system of “skills discovery” and resources’ relocation. This will be along with implementing radical actions fostering the creative change in MTN-Yemen. As one of the operators...
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...Abstract To be an effective leader you have to know yourself, your people and your business while leading the team through different conflict-situations that may increase the stress level of each team member and on the organization. It is critical for the leader to understand his own management style and that of his team members and using the analyses in becoming a more effective coach and mentor. This analysis will look into the relationship between Wolfgang Keller and Dmitri Brodsky. Wolfgang is the Managing Director at Konsigsbrau-TAK (A) and Dmitri is a direct report. The two individuals have very different management styles, experiences and cultural backgrounds. The analysis will review their management style differences, how Wolfgang could have prevented the conflicts and how he can improve the relationship with Dmitri. Wolfgang Keller A Business Case Analysis Wolfgang Keller’s personality is best described as “getting things done”. He is motivated by involving himself in the day to day actions and by gaining immediate results which is indicative of a management style of “Dominance” according to DiSC management profile model (Inscape Publishing, 2008). Dmitri Brodsky, a direct report to Wolfgang, operates with a management style of “Conscientiousness” (Inscape Publishing, 2008) described as ensuring accuracy, maintaining stability and embracing challenging assumptions. Wolfgang and Dmitri share a common management priority of embracing challenges but...
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...will cause a great impact, is unpredictable and inspires the viewer to have willed to take precautions if only he had seen the event coming. He condemned the methods of risk management applied by industries, saying that they can easily predict an event but due to ignorance occurrence of black swan events presides. Yes, it is possible for managers to proactively forecast Black Swan events, by taking advantage of positive events and withstanding challenging events is a key way to starting its management, it also involves realization of their knowledge culmination and appreciating their ignorance. Below is a discussion on how managers can plan for Black swan event; First pointing most probable effects of business disruptions, developing a strategic plan and actions to prevent or reduce risk occurrence (Taleb, 2007). This confirms that managers should not only rely on Enterprise Risk Management to identify impending hazards in their businesses. Secondly managers should focus not only on the frequently encountered risks in the business but also to Black Swan events. It can be done by not ignoring low frequency event since black swan events can emerge from them, avoiding inter political and cultural fights in...
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