Reference no: EM131437903
Assignment: Discussion-Business Analytics and Informed Business Decisions
Many times organizations will make decisions based upon what other organizations are doing at the time or based upon the latest business trend. Think about the dot-com bubble as businesses soared and perhaps were also part of the major bust. Many organizations felt that they needed to join the crowd and have an online presence, only to realize within a couple of years that the decisions were made in haste, which resulted in many companies filing for bankruptcy. This era also had some companies that did not follow the trend only to realize within a couple of years that they were losing out on a new market, such as the online trading industry. This is why doing some research in the beginning can really help organizations make decisions based upon what is truly good for the organization.
Respond to the following:
Why do you think managers, or business decision makers, get caught up in following the crowd versus making decisions that are truly going to add value to the business? For example, some businesses may make decisions that drive only short-term gains at the cost of future growth. Can such a blind leap be a good thing for the business? Is it worth the risk?
How can managers ensure that they are not following a trend but instead doing what is truly best for the organization?
Have you seen your organization make trend mistakes? What were the mistakes? How could these mistakes have been avoided or improved upon?
How do you think business can learn from the mistakes of others or business decision mistakes such as the dot-com era?
Write your initial response in 300-500 words. Apply APA standards to citation of sources.
Using these sources to research ways of making informed decisions.
Hsinchun, C., Chiang, R. L., & Storey, V. C. (2012). Business intelligence and analytics: From big data to big impact. MIS Quarterly, 36(4), 1165-1188.
Minkara, O. (2012). The middle ground. Marketing Research, 24(4), 22-29.
https://search.proquest.com.libproxy.edmc.edu/docview/1283001008?accountid=34899
|
Discuss on specific example from the quran
: Write one paragraph that briefly discusses concrete similarities and differences between "love of God" in Islam and in Christianity (based on page 55-65 in the text). if you use a quote (you don't have to), be sure to provide the page number where..
|
|
Cost of production-price and output
: If both markets (in Q2 & 3) had the same cost curve what can you conclude about cost of production, price and output?
|
|
Differences between real property and personal property
: What are the differences between real property, personal property, and intellectual property? Can you provide an example of each kind of property? Can real property owners do whatever they want with their property, or are they subject to certain rest..
|
|
Briefly describe computer-assisted approaches to production
: Discuss how strategic planning is a dynamic vs linear process. Why is this important? Briefly describe computer-assisted (CAD) approaches to production.
|
|
Why do you think managers, or business decision makers
: Why do you think managers, or business decision makers, get caught up in following the crowd versus making decisions that are truly going to add value to the business?
|
|
Problem of environmental pollution control
: Is Coase's theorem valid? Why or why not? How does Coase's theorem address the problem of environmental pollution control? Does this make sense? Why or why not?
|
|
Tort action for fraudulent misrepresentation
: Art Boutique runs an art gallery in New York City, where they sell works of art.Adie the manager of the botique , shows Dale a new Monalisa that he is discounting for $1,000,000. Dale sues FAAB for $999,000 the difference between the purchase price a..
|
|
How successful and profitable a company is
: 1. Choose a real or made up example of a company, and describe at least three variable costs the company has. 2. Choose a real or made up example of a company, and describe at least three fixed costs the company has. 3. Is gross profit or net profit..
|
|
Implementing policy in the health care delivery system
: Implementing Policy In the Health Care Delivery System In this episode, you are the Director of Quality Improvement for a Health Care System. Your team is in the process of establishing policies and procedures to ensure health law compliance. Establi..
|