Making decisions and overcoming bias using research

Assignment Help Business Management
Reference no: EM133105070

For this discussion, imagine you've taken on the role of a manager at an engineering company. You've been approached by a supplier of goods-one you haven't worked with before. The supplier shows you the new software package it is launching in a few months, and it piques your interest. The demo of the new technology shows you how it could really help your team design and develop projects faster. It also includes many add-ons for items that your company is not currently working on, but that your intuition says it should be.

The supplier's study says that 90 percent of your industry will be transitioning to this new technology in a couple of years, and that if your company doesn't move forward with it, you will fall behind. You are eager to grow revenue, develop your team, and wow your clients. The supplier says it is not making the new technology available to your competitors because it would prefer to partner with a prestigious company like yours. You think the supplier's representative is knowledgeable about the new technology and your industry, and you enjoy the conversations you've had, but you still feel uneasy about making a decision on whether to partner with this new supplier.

What research steps need to take place before you can make a decision?

How would you use qualitative or quantitative data to help you make a decision? Explain the difference between these two methods.

How would you use primary and secondary sources to support your decision? Explain the difference between these two source types.

Reference no: EM133105070

Questions Cloud

What is the building capital cost allowance : One year ago, Prestige Company Ltd. purchased a new factory at a total cost of $1,500,000. What is the building capital cost allowance
Pros and cons of the proposed mode of entry : -Using the emerging technology AUGMENTED REALITY propose an appropriate mode of entry of the company into the selected country of Brazil
Financial instrument used for retirement planning : 1. The future value of 6,000 deposited every year for the next 25 years if the interest rate is 12% compounded annually is between $799,000 and 800,000.
Describe and discuss recognition and measurement policies : Describe and discuss the recognition and measurement policies of your allocated company about leases and income tax
Making decisions and overcoming bias using research : How would you use qualitative or quantitative data to help you make a decision? Explain the difference between these two methods.
What is his partner return on equity : Carter Pearson is a partner in Event Promoters. His beginning partnership capital balance for the current year is $55,000, What is his partner return on equity
Program evaluation review technique charts : Discuss benchmarks, flow charts, and Program Evaluation Review Technique (PERT) charts.
Various interventions used in the od process : Identify and explain the various interventions used in the OD process.
Design for a piece of equipment : An enthusiastic project team has been created to implement the design for a piece of equipment with a specific function as part of machinery being manufactured

Reviews

Write a Review

Business Management Questions & Answers

  Write a program that reads in a positive integer

Write a program that reads in a positive integer from the user and outputs a count of its divisors and whether the input positive integer is a prime number.

  Categories of metrics useful for managing technology

Discuss the different categories of metrics useful for managing technology related projects and explain who should be involved in the development of metrics within an organization?

  Evaluate the driving ethical issues of information systems

Summarize the complexities of information technology practices. Evaluate the driving ethical issues of information systems.

  Invest in an application lifecycle management tool

Your team has decided to recommend that Sifers-Grayson invest in an Application Lifecycle Management tool.

  Webpage from the international monetary fund

500-750-word response on what Foreign Direct Investment is and how it is beneficial to the international economy.

  Explain the history and major types of beers

Explain the history and major types of beers and the importance of the ingredients used

  International business communications

Your coffee franchise cleared for business in all three countries (Saudi Arabia, Mexico, and China). You now have to develop your global franchise team

  Should susan make changes to her use of humor and teamwork

Do you think this is a good use of her assessment, or should she make changes to her use of humor and teamwork? If so, what kind of changes?

  Given the realities of today''s economy

There is no such thing as a sustainable competitive advantage which lasts over the long term." Defend your position. Given the realities of today's economy.

  Interest rate and yield to maturity

What relationship exists between the coupon interest rate and yield to maturity and the par value and market value of a bond? Explain.

  Definitions of insurable risks

Identify one risk that would not fit traditional definitions of insurable risks (your example could be for a specific exposure or an organization).

  How consumer demands affect a company''s business decision

Write a paper of no more than 750 words to present your position on sweatshop labor and provide justification. Include the following: How consumer demands affect a company's business decision. How different ethical perspectives guide ethical decisio..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd