...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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...tEXECUTIVE SUMMARY The paper identifies different source and causes of different types of conflict in the work place. Analysis of the conflict was done with the aid of Blake and Mouton’s model of conflict management. The paper reflects on a real life observation using brightlands care home. Conflicts observed in the home were analysed and discussed. Manager positions in handling the conflict were also analysed using Blake and Mouton’s conflict management style model. Five conflict management style (competitor, collaborator, compromiser, accommodator and avoider) were used to analysed the conflict were based on the research of Blake and Mouton (1964). Using the 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...
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...Coach Mike Krzyzewski (Coach K.) and Coach Robert Knight (Coach Knight) were two of the most winning and successful coaches to ever coach basketball. These men are not just known for their record wins, but for their unique leadership. They each had a unique way of leading their teams. Coach Knight was Indiana University’s head basketball coach and became a legend there. Coach K. was the head coach at Duke University since 1980. A fact of interest, both of these two men knew each other in an earlier time. Coach 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...
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...Goleman, D. (1998). The emotional intelligence of leaders. Leader to Leader,(10), 20-26. According to the Goleman, author of “The Emotional Intelligence of Leaders” there is a difference between rational and emotional intelligence. The article detailed that both are essential to success. Studies that were conducted in hundreds of organizations show that that about two-thirds of the abilities that set apart star performers from the rest are based on emotional intelligence, only one-third of the skills that matter relate to raw intelligence and technical expertise. (Goleman 1998) There are some skills that a leader should possess. The author discussed 5 dimensions of emotional intelligence that are a foundation for specific capabilities of leadership. There is self awareness – when we are thinking about something, this helps us in our decision making. Managing emotions- a leader should be able to control his/her emotions. There was a study done at the Stanford University; four year olds were tested using marshmallows; the ones who were able to wait instead of grabbing a marshmallow immediately show self control. It was later determined at the age of 18; the kids who waited are emotional stable versus the ones who did not wait. Another skill that a leader should possess is the ability to motivate others. In order for a leader to be able to successfully motivate others; he or she needs to be optimistic. Optimists are able to handle setbacks and try again. A leader should also...
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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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...1. Main roles of manager is leadership, leading your team, figurehead, people look up to you as a person of authority, liaison, you need to be able to network effectively, monitor, you must be able to monitor your team in both productivity and their wellbeing, spokesperson, you must be able to represent your company, Negotiator, negotiator within your team or department, people development, developing structure, procedures and policies. Hazif’s main role is production manager he is a great team leader and makes sure rules and regulations are met, he monitors his team well with weekly meetings to discuss problems. He has good people development skills giving monthly reviews to his employees on performance helping empower his team. He has introduced job rotation to build employees skills & knowledge. He rewards his team and creates a positive work culture. 2. Meeting Deadlines: Hazif rewards his employees to ensure all orders are completed and delivered in time and targets are met letting us know how Hazif is performing and if he is getting all deliveries out in time. Accidents at work: As part of the quality culture all staff know the importance to health and safety, all accidents should be recorded thus letting us know if Hazif is making sure all employees are sticking to the health and safety guidelines and how he is performing as a manager. 3. The functional or group approach. In 1973 john Adair theorised and developed an action-centred leadership model to...
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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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...can’t manage what you can’t measure.” Bob Napier, Hewlett-Packard (hp.com, n.d., para. 2) Evaluating a sales person’s performance is part of the sales managerial functions. It incorporates information about performance and goals in the past and applies that data to improve performance in the future either by taking corrective actions or by rewarding good performances. One evaluation method my company will adopt for the sale team will be Feedback. Feedback is simply verbal or nonverbal communication between two or more parties. Feedback should be given in all work situations, good and bad. However, people sometimes think of feedback as being synonymous with criticism when it is given in situations where expectations have not been met. Regardless, we are constantly surrounded by feedback as we see the consequences of our actions and how our actions affect the impressions of those around us. One common problem that managers overlook when reviewing performance is remembering that feedback is not all about forms. Traditional performance reviews have checklists, ratings, or reports that are used as tools to analyze feedback in the organization. While these forms are useful in documenting and appraising a person’s performance, feedback should not be dictated by the type of form an organization uses. Instead, it should be well thought out and measured according to the individual employee in question, considering their unique circumstances and abilities. References: Damnjanovic,...
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...[BA2101] MANAGERIAL SKILLS LAB II FALL 2012 (SECTION 3) WEEK 3: ‘PROJECT MANAGEMENT’ Class topic held on the third week of Managerial Skills Lab II was on ‘Project Management’ and ‘Group work’. The topic was carried out with a class exercise where we were given a list of management activities and rank the tasks into order. We first ranked them by individuals, then discussed with a team of five and ranked tasks according to the best reasoning from the team discussion. It was an interesting exercise for me because I was able to learn the breakdown of tasks in a project. Moreover, despite the long time consuming team discussion to make a decision, it was interesting to learn how others thought of conducting a project. By sharing individual’s knowledge as a group, it created a broader perspective and everyone got to considered alternative solutions. However, it was definitely more time consuming because every disagreement had to be discussed, explaining individual’s logic of reasoning and coming to an agreement. Also, although it did not happen in our group, team decisions can be dominated by one individual, which de-emphasizes the meaning of group work. A book called, ‘Designing Group work: Strategies for the Heterogeneous Classroom’ by Elizabeth G. Cohen address the importance of group work, and its underlying intellectual and social comprehension. A number of key learning abilities such as ‘conceptual learning, creative problem solving, and oral language...
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...The word violence extends well beyond the typical thought of gore and anger. Violence can be broken down into sectors such as verbal, indirect, physical and emotional. For instance, the dehumanization of enemies in war. Enemies are given slanderous names, emotionally are affected by the deaths that they see, physically by the enemies that they kill and indirectly combatants will often pillage towns for food and shelter when needed. Once somebody returns from war, all of these factors affect their views on war, instead of just the act of killing. He stated that “the survival of the fittest” leads to the best adapted individuals to excel in their certain niche. This is a direct correlation to the four questions for what it means to be human and to live a life of meaning and purpose. Humans are a set of complex individuals who with an intelligent brain are able to fight over their thoughts and beliefs, which leads to violent actions. The main purpose for a human is to pass on their genes through babies, and fight for the resources against any resistance. This conveys light to scientific disciplines that look into the mindset of humans to understand who “The Other” is. This colloquium is quite similar to the topic in class today about the “tragedy of the commons.” Violence often occurs because humans are fighting for a limited amount of resources. Though it may be construed through verbal or physical means, humans often feel the need to put down others for their own...
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...happy. It is true that he was losing an asset he had help create but I had grown enough to understand the significance of the experience I gained. I had been exposed to exclusive training with the company and had acquired the necessary skills to help me handle difficult tasks. I was always available when my manager required my contribution; I knew he would miss that. However, I was more concerned about my experience and exposure in other fields, as well as what I had to do to achieve my life goals. Position 2: You are right, I am wrong Leaving my previous employer who trained me to be a top notch administrative professional was obviously painful. According to him, if I only took some more time, he would have promoted me to a managerial position in the company. He was willing to expose me to higher responsibilities that would prepare me to handle extremely difficult situations that managers experience in their duties. However, I no longer had the desire to be someone’s secretary. Position 3: both right, both wrong My employer was correct when he claimed that he was concerned of me and would ensure that I am well versed with experience and exposure in my field of work. He was also right to say that he had trained me on the basics of my career and he was ready to expose me to more knowledge in the field....
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...that a person can answer correctly in an allotted time. Speed test are normally used for clerical and administrative jobs. Professional and managerial type jobs use the power test. The Aptitude Test confirmed that I work well in careers where success comes from applying practical skills and where thinking is used mostly to solve practical problems. That was a very good assessment. I really enjoy jobs that allow me to think and use my natural skills and leadership ability. It also showed that I place values high on my priority list. I believe that having good values is the key to success. Having good values and ethics in the workplace, helps the organization keep order and allows the company to function smoothly and remains profitable. Individual values should align with company values in the workplace. Integrity is the value that I think is most important in the workplace. It is important to display honesty in the workplace at all time. Employers want to know that they can trust you and that you are going to do the right thing at all times. The tests also assess my individual thinking style. This part was good learning experience for me considering, that I can sometimes be a hot head. The test was pretty accurate and lined up with my thought process. Knowing my strengths and weaknesses will help me organize my thoughts before and after I deal with clients. Normally, I don’t prepare prior to speaking with clients. After...
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