Q1: Insurance companies in the state of Florida earned record profits in 2006‚ suggesting that Nationwide’s decision to cancel policies in light of the calm hurricane seasons (in Florida) in 2005-2007 may have cost the company potential revenue and customer goodwill. Do you think Rommel’s quote about making a ’’sound business decision’’ reveals any perceptual or decision-making biases? Why or why not? Ans : Overconfidence bias is identified as ’’the tendency to overestimate the probability that
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If it’s true that the eyes are windows into the soul‚ then the face is a map to a person’s mindset. At this point in time‚ facial coding is no more of a science than palm reading‚ but it has the potential of developing into a new area of expertise that could end up being used on a scale just as large as the polygraph. Facial coding‚ or the practice of interpreting the minute details‚ shifts and movements of the hundreds of muscles on a person’s face‚ is essentially designed as a system of reading
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Cost Definition: A actual amount that has to be paid or given up in order to get some thing. In business cost is usually a monitory valuation of * Effort * Material * Resources * Time * Utilities consumed * Risk incurred * Opportunity foregone in a product. * Delivery of goods or services. * All expenses and cost Classification of cost Purpose of classification | classification | Preparing External Financial statements | Product classification (Inventoriable)
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I. My weight is only 38‚ while my age is 18‚ when I was confirmed by the doctor that I was under-weight. It is 3 years ago when I was vulnerable to infection as the symptoms of underweight. II. So‚ I search for something that can help me to gain weight. At last‚ I was being introduced to Herbalife by my friend. III. I make some research on Herbalife to know it better before I use it in order to achieve the targeted weight without putting myself at risk. IV. Today‚ I would like to inform
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Telephone Customer Service Representatives 1. How do you interpret the reliability results for the clerical test and work sample? Are they favorable enough for the company to consider using them “for keeps” in selecting job applicants? A. Clerical Test Coefficient alpha is high (.85‚ .86). This is a positive sign. Test-retest reliability is also high (.92). B. Work Sample (T) Inter-rater agreement is relatively high (88%‚ 79%) C. Work Sample (C) Inter-rater agreement
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MBA(EXECUTIVE) Ist Semester MANAGERIAL ECONOMICS Assignment-1 Q.1 Is managerial economics positive or normative? Analyse the relationship between managerial economics and decision making. Q.2 What are the various factors which may influence the demand for Intermediate goods‚ public goods‚ club goods and complimentary goods? Q.3 Why is demand analysis significant for management? Identify various concepts of demand relevant for various functional areas of management. Q
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Interdisciplinary Approach Organizational behaviour is basically an interdisciplinary approach. It draws heavily from other disciplines like psychology‚ sociology and anthropology. Besides‚ it also takes relevant things from economics‚ political science‚ law and history. Organizational behaviour integrates the relevant contents of these disciplines to make them applicable for organizational analysis. e.g. it addresses issues‚ which may be relevant to the case‚ such as the following: • What facilitates
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What is Organizational Behaviour? Organizational behavior is a field of study that investigates the impact that individuals‚ groups and structures have on behavior within an organization for the purpose of applying such knowledge towards improving an organization’s effectiveness.[1] It is an interdisciplinary field that includes sociology‚ psychology‚ communication‚ and management; and it complements the academic studies of organizational theory (which is focused on organizational and intra-organizational
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What is organizational behaviour? How can managers apply it? Explain. Many organizations today‚ employ people of different ethnicity‚ culture and have subsidiaries in various parts of the world. Managers now have to find ways to manage effectively these variables to ensure the goals of the organization are accomplished. Managers get work done through others; therefore they need to have excellent interpersonal skills. As well as plan‚ organize‚ control resources and make good decisions on behave
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Chapter 1 Defining Organizational Behaviour * OB is a field of study that looks at the impact that individuals‚ groups‚ and structure have on behaviour within organizations * Managers apply the knowledge gained from OB research to help them manage their organizations more effectively * An organization is a consciously coordinated social unit‚ composed of a group of people‚ that functions on a relatively continuous basis to achieve a common goal * Wages and benefits are
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