Iscussion questions and Participation Questions

Alexis,
If you can get me one discussion question and one participation question today and tomorrow..the other participation 2 of each day that will be fine,,i do not have to have it all in 24 hrs . thanks

1.wk 3 dis. 1.
What is the most influential factor, positive or negative, that affects training? How does this factor influence training? Provide examples. As a trainer, how would you support or combat this influence?


2.wk 3 dis #2
It is important for adult learners to understand how they learn to advance their education. Can this be applied in training? How can knowledge of how adult learners learn help trainers create an effective learning environment?


3.Participation question 1.
Deepa-
Which do you consider more valuable: external or internal recruitment? What are the advantages and disadvantages of each? Explain. In your own company, on which type do you think the recruitment process should focus? Why?





Both internal and external recruitment are important for an organization. Internal recruitment has to be given importance first. As this has few advantages, hiring internally talented employees avoids layoffs and you get someone who is familiar with the organization. This might reduce some of hiring and training cost. Sometimes because of this organization would lose a chance to be exposed to new talent and new ideas that might be gained by external recruitment. There are chances to be influenced by personal relationship by the employees as they are working for some time. May not able to find a well qualified person for the job when compared to the external recruitment.

What the organization need form the position it is recruiting is very important in considering internal or external recruitment.


4.Participation Question Hermes
I consider that both external and internal recruitment has its value; it all depends on the specific needs of the area. I understand that the first option should be internal recruitment. Internal recruitment would provide the benefit of having someone who understands their system (less training required) and knows the mission, vision and history of the company. The company also knows the history behind the individual s performance, allowing for understanding development needs and creating realistic expectations. Another benefit of the internal recruitment is that by creating opportunities employees perceive their current position as a career and not just work. This gives extra motivation for employees to succeed and create an impact in their positions.



A disadvantage of the internal recruiting is that with time paradigms are created on how to execute certain tasks and opportunities are overseen. External recruitment helps avoid that by providing bringing new ideas and different visions into the company. It helps change the scenery and refresh the environment every once in a while. A risk associated with external recruitment is that little is actually known (regardless of how many interviews or references we get) about the individual s previous performance, hence leading to create false expectations around the new employee.



My company should currently focus on internal recruitment. A few years ago many position were created and filled mostly externally because a change of scenery was required. With the economy impact we are being forced to lay off a great number of colleagues. Hence positions that somehow become available should be filled (if the competencies are available or can be easily developed) with internal personnel. Otherwise the moral will be definitely destroyed.



5.Participation question-Moiz
Which do you consider more valuable: external or internal recruitment? What are the advantages and disadvantages of each? Explain. In your own company, on which type do you think the recruitment process should focus? Why?

I consider internal recruitment more valuable for the company in the long run because the internal employees possess the valuable company knowledge and relationships required to perform their duty from day one, where as an external employee requires knowledge transfer. By hiring internally the company proves it values its employees and their growth, this will give a positive signal to rest of the employees and the effects will result in making the employees dedicated to the company, whereas if an external employee is hired while internal employee possess the skills, will make the internal employees frustrated and in some cases employees resign from their jobs.

The best scenario could be to promote each manager to one level up on the hierarchy by providing required training, this will result in minimum loss of company knowledge and maximum output. In some cases where the internal resources do not possess the required skills, external employees could be hired and it would be justified and in this case there would not be any negative impact. New external employees sometime bring fresh talent and ideas. In some situations it becomes necessary to hire externally to avoid internal politics.

I have noticed in Motorola, many mid level managers are promoted to top management when the position is vacant, and the junior level manager is then promoted to mid level management position. I think this best suits the smooth transition and business will run as usual and employees will be happier and dedicated. As a result more and more employees will perform better for future growth potential.

6.Trinity-
I believe that when the right person is chosen for a position it benefits the Company more than if this same person came from the out side. The reason for this is because it boosts company morale and keeps hiring costs down. It can also slow the learning curve with a person already trained and used to the environment, the structure, and the other employees. This is not to say that I would post to in house first... Because I also believe that more than anything the right person needs to be hired for the position and that can only happen if all qualified applicants have an equal opportunity.

Their are so many advantages to internal hiring as stated above, the down falls however would be suspected favoritism therefore lack of qualifications to create interpersonal relations issues.

External hiring has its positives and negatives as well. A negative would be unhappy staff, all the typical risks of new hires for example not as qualified as you thought etc... The positives are a fresh face, new talent that could possibly improve the company.

In my own company I would focus on both internal and external. Though I strongly believe there are greater benefits for the company when the hire is internal.

Iscussion Questions and Participation Questions

1.Discussion Question: What are the benefits of project management? Provide an example of how you have relied on project management. Based on your readings, how can you improve your project management skills?

2.Discussion Question: What is a safety stock and when should it be used? How have safety stocks been used in your organization (or an organization in which you are familiar)? Were they relied upon appropriately?

3.Participation:Sarah
Project Management is the supervision and execution of the project vision/scope. The benefits of project management are being able to start, plan, execute, and close a project. These factors help in making the project successful. I have relied on project management tools to balance different tasks at work on a daily basis by priority and to help prioritize my coursework during my undergraduate and graduate studies to maximize my learning. Based on my readings, I believe the best way to improve my project management skills are to utilize the tools on formal projects whether it is at work or school and gaining the experience. Another great way to improve my project management skills are to recognize my time management and create deadlines to stay focused and give myself enough wiggle room to plan, execute and close a project.

4.participation-Virna

Discussion Question: What are the benefits of project management? Provide an example of how you have relied on project management. Based on your readings, how can you improve your project management skills?

What is project management?

Project management can be defined as planning, directing, and controlling resources (people, equipment, and material) to meet the technical, cost, and time constraints of the project. (Chase, 2006, pg. 73)

Project management enables managers to guide a project from point a?Aa? to point a?B

Benefits of project management

Better efficiency in delivering services: Project management provides a a?roadmapa? that is easily followed and leads to project completion and can be used again to serve other projects.
Improved/increased/enhanced customer satisfaction: Whenever you get a project done on time and under budget, the client walks away happy and will come back.
Improved growth and development within your team: Positive results not only command respect but more often than not inspire your team to continue to look for ways to perform more efficiently.
Greater standing and competitive edge and greater opportunities to expand your services:
Better Flexibility
Increased risk assessment: Project management provides a red flag at the right time: before you start working on project completion.
Increase in Quality and Increase in Quantity
By implementing fundamental project management strategies, you will narrow your focus, reach desired goals and achieve said goals with specific time and cost perimeters.

Provide an example of how you have relied on project management.

I am presently in a project management that involves building a new ERCP procedure room. This is my first project management I have been involved in and I didnat realize all the people and resources involved, money, the work and planning and details that go into it. I of course just go to the meetings and asked what is required of me. My job is to give my input on the endoscopy part regarding how the room should be set up, placement of monitors, computers, storage/cabinet space, boom towers, lighting, oxygen outlets, lead walls, the lay out and function capability of the room to meet the doctors, radiology and nurses needs to provide safe and adequate patient care. Present at these meetings are: Champlain architect, engineers, Danis construction (project manager), our hospital project manager for this job, someone from hospital finances, Alpha Imaging Project managers, Berchtold project managers , electricians, biomed clinical engineering, Olympus Representative, Clinical Director of Periop Services ( budget allowance) and my manager. It is amazing to see how all these people work together to get a project completed. Our goal is to have this project completed at the end of March within the project budget. There is a time restraint to complete this project by the end of March because these other resources have other projects to start for other companies.

The project management jobs I do complete on my unit are not as complex and grand. A successful Project Manager must simultaneously manage the four basic elements of a project: resources, time, money, and most importantly, scope.
Resources
People, equipment, material
Time
Task durations, dependencies, critical path
Money
Costs, contingencies, profit
Scope
Project size, goals, and requirements. The project scope is the definition of what the project is supposed to accomplish and the budget (of time and money) that has been created to achieve these objectives.
You cannot effectively manage the resources, time and money in a project unless you actively manage the project scope.

When you have the project scope clearly identified and associated to the timeline and budget, you can begin to manage the project resources. These include the people, equipment, and material needed to complete the project

com

The skills I would need would be going to a project management course and understand what my job and responsibilities are, along with good communication skills, leadership skills, problem solving skills, flexibility, organization, attention to detail, know what my budget allows.

You cannot effectively manage the resources, time and money in a project unless you actively manage the project scope.

When you have the project scope clearly identified and associated to the timeline and budget, you can begin to manage the project resources. These include the people, equipment, and material needed to complete the project.

References:

nuclear bomb, 1942-46. Another famous project management was the Apollo mission. On a more everyday level, when a manager is given the latitude or a budget or whatever resources and not micromanaged it is a matter of trust. The larger organization trusts in the expertise of that project managers. The latitude varies greatly. In the case of managers with a proven track record, they often take on one project after another in this way, assembling a team to complete the task. Still, there are challenges. Time is often one and money another. Personality clashes can come up. In the case of group work, if they cant get the group to perform the project manager needs to identify the problems. Projects have an endpoint so the group is disassembled when the project is over unless another one is given to them.

6.Saad-
An effective project management provides a proven methodology to act accurately and efficiently completing projects of any size. Thorough and detailed project planning results in a bought-into, approved, realistic, and formalized project plan. Such careful planning saves time and money by proactively addressing risks before they occur, as well as by eliminating the need for changes late in the project.

The key benefits of Project Management are:

Project management provide significant benefits to companies when the principles and methodologies are consistently applied

Project management helps managers identify ill-conceived and directionless projects

Iscussion Questions and Participation Questions

Alexis,
I need two each day. That is starting on Thursday. Thanks!



1. Discussion Question-1
At what point during a business cycle would you do the following? Explain why.

[Trough-expansion-peak-contraction(recession/downturn) or at some place between two points.]



Introduce a new product



Start making layoff plans



Maximize profits



Stock up on inputs



Consider selling off a division that has not met profit expectations



Consider purchasing another firm



Hire new employees



Promote cost cutting measures



Borrow money for a new plant expansion



Advertise



Spend on R&D



Buy capital equipment for plant



Cut back on inputs



Accelerate any debt payments


2. Discussion Question 2.
Based on GDP, we have seen some growth in our economy. On the other hand, the unemployment problem remains. What do you think are the reasons? Be as specific as possible.

3.Discussion Question 3.
Many firms use economic indicators to help them with strategies. Each firm may use different indicators. Name 2 or 3 indicators that you feel would be good for your firm to use and explain why you think the ones you indicated are the best. Alexis, I work in the meat industry, resale, and meat packing pork and beef. I work in an office environment also.

4.Disc. Question 4.
Many firms use economic indicators to help them with strategies. Each firm may use different indicators. Name 2 or 3 indicators that you feel would be good for your firm to use and explain why you think the ones you indicated are the best.


5. Discussion Question 5.-
Check these links:

30. From the data, what relationships and other things do you see?

7.Participation 1.-Ashley-
At what point during a business cycle would you do the following? Explain why.

[Trough-expansion-peak-contraction(recession/downturn) or at some place between two points.]



Introduce a new productExpansion (growth) the expansion starts when the factors influencing the industry (usually demand, but could also be credit or any other factor) become favorable. The expansion can be self-enforcing if the rise of the industry has a positive effect on the driving factors

Start making layoff plansContraction (A slowdown in the pace of economic activity)

Maximize profitsExpansion (growth) the expansion starts when the factors influencing the industry (usually demand, but could also be credit or any other factor) become favorable. The expansion can be self-enforcing if the rise of the industry has a positive effect on the driving factors



Stock up on inputsExpansion (growth) the expansion starts when the factors influencing the industry (usually demand, but could also be credit or any other factor) become favorable. The expansion can be self-enforcing if the rise of the industry has a positive effect on the driving factors



Consider selling off a division that has not met profit expectationsContraction (A slowdown in the pace of economic activity)

Consider purchasing another firm a Expansion (growth) the expansion starts when the factors influencing the industry (usually demand, but could also be credit or any other factor) become favorable. The expansion can be self-enforcing if the rise of the industry has a positive effect on the driving factors

Hire new employees-Expansion (growth) the expansion starts when the factors influencing the industry (usually demand, but could also be credit or any other factor) become favorable. The expansion can be self-enforcing if the rise of the industry has a positive effect on the driving factors

Promote cost cutting measuresTrough (The lower turning point of a business cycle, where a contraction turns into an expansion)

Borrow money for a new plant expansionPeak (The upper turning of a business cycle)

AdvertiseExpansion (growth) the expansion starts when the factors influencing the industry (usually demand, but could also be credit or any other factor) become favorable. The expansion can be self-enforcing if the rise of the industry has a positive effect on the driving factors





Spend on R&DPeak (The upper turning of a business cycle)



Buy capital equipment for plantExpansion (growth) the expansion starts when the factors influencing the industry (usually demand, but could also be credit or any other factor) become favorable. The expansion can be self-enforcing if the rise of the industry has a positive effect on the driving factors


Cut back on inputsContraction (A slowdown in the pace of economic activity)

Accelerate any debt paymentsPeak (The upper turning of a business cycle

8.Participation 2.-Michelle-her reply for discussion question 1-


Activity
Business Cycle
Reason

Introduce a new product
Expansion
Expansion follows a recession where GDP, employment, and income rise-this would be an ideal time to introduce a new product.

Start making lay off plans
Peak/Contraction
I would probably start making lay-off plans at the peak of business, knowing a decline will follow the peak. However, I would not lay off until moving into the contraction stage.

Maximize profit
Expansion
One may think the profits maximize at the peak. In reality, a peak usually causes inflation and decreased profits.

Stock up on inputs
Expansion
Sales are increasing during this stage so input could be employees or materials. This would need to increase along with the output.

Consider selling a division not meeting profit expectations
Peak
Selling when the organization is making a profit will receive a better price for the division than if you sell in a recession.

Consider purchasing another firm
Expansion/Peak
Although this may be a good idea during expansion cycle, the organization may not have enough capital until the peak.

Hire new employees
Expansion
During expansion employment increases

Promote cost cutting measures
Trough
The business is slowing down during this phase and a recession usually follows, so this is the best stage to cut costs.

Borrow money for a new plant expansion
Expansion/peak
As the increase in sales and income start to flow, this would be the best time to show profit and loss statements and ask for a loan. However, at the peak of business a loan many come easier.

Advertise
Expansion
With expansion comes new products, with new products comes advertising

Spend on R&D
Expansion
When the business is expanding

Buy capital equipment for plant
Expansion/peak
This is probably with the organization needs the equipment, and has the money to purchase it.

Cut back on input
Trough
Input is the employees. Unemployment is higher during this phase because the output is declining.

Accelerate any debt payments
Peak
At the peak the cash flow is high and cutting debt will help with the cash flow when the cycle moves downward.





Reference

McConnell, C., Brue, S., and Flynn, S. (2009) Economics, Principles, Problems, and Policies. [University of Phoenix Custom Edition (18th) e-text]. Irwin McGraw-Hill New York, N.Y. Retrieved from University of Phoenix, ECO561-Economics.

Michielle (Mickey) Langley


9.Participation question-3-Latonya
As the business cycle goes through its different

Iscussion Questions and Participation Questions

Alexis,

Here are my discussion questions for my new class and participation. I am running late so as soon as you can get me these the better! thanks!

1. discussion-i need this one asap/
How may variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.


2. discussion-i need this one asap/thanks

As a manager, what are some benefits of applying probability concepts to solve business-related problems? Would business decisions suffer without probability concepts? Explain.

3. discussion question-

When would you use descriptive over inferential statistics? Provide a specific scenario and explain your rationale.

4.participation-Venki
In order to answer, we need to define the terms.

a?VARIANCE is the arithmetic mean of the squared deviations from the mean. The variance is nonnegative and is zero only if all observations are the same.

a?STANDARD DEVIATION is the square root of the variance two numerical ways of describing data, namely, measures of location and measures of dispersion. Measures of location are often referred to as averagesa¦ consider five: the arithmetic mean, the weighted mean, the median, the mode, and the geometric mean. The arithmetic mean is the most widely used and widely reported measure of location.a?



Considering a real world, business related problem, we have the following data:

The Bureau of Labor Statistics lists average hourly wages for 8 categories of law-related occupations (OCC Code 28000) (the units are dollars per hour):

21 30 17 36 14 17 12 15 17





x 30 + 17 + 36 + 14 + 17 + 12 + 15 + 17

x158

Mean 158/8

$19.75 which is the mean hourly wages.

The variance is the sum of the squared deviations divided by 1 less than the number of observations: 72.5

Squared root of this would be 8.5147 dollars per hour

References:

1. Lind, et al: Statistical Techniques in Business & Economics, 12/e The McGrawa? Hill Companies, 2004

2. Moore et al, WH Freeman & Company, NY 2007




Kevin Masick wrote:How may variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.

5.participation-Christine
How may variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.

I am not sure if I am on the right track, but I will give it a try. When I think of variance and standard deviation I think of how many students attend the University of Phoenix. One can evaluate how many students are enrolled in each program and compare it to other Universities. Once compared to other schools, one can determine if the standard deviation is low or high. If the standard deviation is low, then the University can try to increase students to increase the variance.


Christine Brown

6.participation-Jenny

In measures of location, we take into account dispersion also called variation or how the data spread. There are different ways to consider dispersion: range, mean deviation, variance and the standard deviation (discussed in the text); Variance and standard deviation are based on the deviations from the mean (midpoint) but instead of using absolute value, both square the deviations. Standard deviation is more commonly used because the units of the standard deviation are the same as the units of the population or sample (e.g. dollars, customers, defects, etc.) In business we want to know that is our midpoint or average point and how closely the data is clustered around the midpoint.

Business application. A bank may want to measure how their branches perform in generating fees. Using concepts like standard deviation will allow upper management to measure and compare the spread of two or more branchesa performance. If the mean for monthly fee income two different branches is $10K; If the standard deviation for branch A is $500 and branch B is $2000; Branch A is a more consistent performer than Branch B for that month.

Reference: Describing Data. Chapter 3, Lind et al, 2008





7. participation-Aliesa
How may variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.

From reading chapter three we now know that variance is the arithmetic mean of the squared deviations from the mean and standard deviation is the square root of the variance (Lind, Marchal, & Wathen, p. 76).

Variances and standard deviations be applied to 401Ks and other stock options profiles. In a balanced portfolio you have so many higher risk investments and then so many lower risks investments and that is what makes is balanced or it could even be called In the middleportfolio. There are many other options as well and to each their own in deciding which option is best for them.



Reference:

Lind, D.A., Marchal, W.G., & Wathen, S.A.(2008). Statistical techniques in business and economics (13th ed.). Boston: McGraw-Hill/Irwin.



8.participation-Jeffery
How may variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.



a?Variance and standard deviation are based on squared deviations from the mean.

VARIANCE The arithmetic mean of the squared deviations from the mean.

STANDARD DEVIATION The square root of the variancea? (Lind, Marchal, & Wathen, 2008, p. 76).

The Standard Deviation measures the dispersion of a population, a data set, or a probability distribution. When there is a low standard deviation, it is an indication that the data points are relatively close to the mean. In contrast, a high standard deviation indicates that the data are spread out over a large range from the mean.

I am currently working on a project in Spain where I am overseeing the quality control (QC)....so I am quality assurance QA) of the steel being fabricated for the world trade center. Once the steel is fabricated and passes all welding inspection, it is sand blasted and a protective coating (Zinc) is applied to protect the steel from rusting.



We take DFT, or dry film thickness readings to ensure the coating was applied within a specified range. In this case, 2-3 mils. Code specifies 5 spot readings every 100 sq. ft. There are 3 individual readings per spot. You are allowed to take 5 individual readings per spot and throw out the high and the low which essentially tightens your variance.



Within each of the 5 spot readings, 1 spot reading is allowed to be within the range of 80%-120% of the specified range. Once we have collected all spot readings appropriate for the sq footage of the piece, we calculate the range, standard deviation and the spread (or variance) to determine if the coating thickness meets the specified criteria. If the spread (variance) is narrow, we know that a consistent contiguous film was achieved, maximizing the life of the coating system. In contrast, if the spread is wide, it tells us that the inconsistency of the coating (film) thickness could potentially jeopardize the effectiveness of the coating system, i.e. be too thin in some areas. In this case, it would allow us to justify more spot readings to determine trouble areas and write a repair procedure to address said areas of concern.



Reference:

Lind, D. A., Marchal, W. G., & Wathen, S. A. (2008). Statistical Techniques in Business and Economics (13th ed.). : McGraw-Hill Companies, Inc..

Jeffrey

8.participation-christine-
I think that applying probability concepts to solve business-related problems is necessary and businesses could suffer if not used. Probability is a value between zero and one, inclusive, describing the relative possibility (chance or likelihood) an event will occur (Lind, 2008). Lets take

Iscussion Questions and Participation Questions

Alexis,

I do not have all the participation questions down yet….Last time you didnt answer the last three…but i have to post them as remarks are made…so if you can keep checking…thanks There will be 4 more because I have to have 4 days two times to participate. thanks again

Discussion Question 1:

1.What are some special issues that arise in Internet transactions? What must managers do to protect their organizations in Internet transactions? Avoid discussing an issue mentioned by other students.

2.What special issues arise in international business transactions? Identify two issues and discuss what managers may do to minimize exposure to legal risk and uncertainty associated with these issues. Avoid discussing an issue mentioned by other students.

Participation Questions:

3.Shanna-Some issues that may arise in internation business transactions are the language barrier, technology differences, social order in the country, who has negotiation authority, nonverbal behavior, and the concept of time. When dealing with business associates in another country it is important to know what language they prefer to speak. To minimize risk and legal exposure managers need to understand the countrys culture and be bilingual. This will minimize the language barrier between companies. Social organization differs in many countries from the U.S. It is very important for managers to understand another countries culture when dealing with businesses. Questions such as Is it appropriate to discuss business during mealsand Are women allowed to negotiateare critical so that legal issues do not arise during the negotiation process. Offending someone in the company from another country can lose the company their reputation in that country.

Jennings, Marianne Moody., Business: Its Legal, Ethical, and Global Environment., International Law., Chapter 7.,