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Unit I &II assessment

Kindly highlight the answers in RED

Question 1

  1. What types of powers do administrative agencies have?
Legislative and judicial
Judicial and executive
Executive and legislative
Legislative, judicial, and executive

4 points

Question 2

  1. Which of the following are stakeholders of a business?
Owners and employees
Employees and customers
Customers, owners, and management
Management, owners, and employees
Customers, owners, management, and employees

4 points

Question 3

  1. The “public disclosure” test is also known as the __________ test.
primary
golden
television
Powell
self-conscious

4 points

Question 4

  1. Which of the following is (are) positive about arbitration?
Arbitrators are assigned so parties do not have to pick them.
Arbitration is generally less expensive than litigation.
Arbitrators are bound by the same rules as judges in applying precedent.
Arbitrators are assigned so parties do not have to pick them, and arbitration is generally less expensive than litigation.
Arbitrators are assigned so parties do not have to pick them, arbitration is generally less expensive than litigation, and arbitrators are bound by the same rules as judges in applying precedent.

4 points

Question 5

  1. Which of the following is the minimal standard that a business must meet in a consideration of business ethics?
Decisions must be legal.
Decisions must meet the criteria of a follower of the WPH framework for business ethics.
Decisions must meet the requirements of the most important stakeholders.
Decisions must receive a majority vote of acceptance by employees.
Decisions must be legal, and decisions must receive a majority vote of acceptance by employees.

4 points

Question 6

  1. Which of the following involves disputes between private individuals or groups?
Public law
Private law
Governmental law
Public law and private law, but not governmental law
Public law, private law, and governmental law

4 points

Question 7

  1. Which of the following was the result in Alexis Perez v. John Ashcroft, the case in the textbook in which the plaintiff claimed that—without formal rulemaking as required by law—the Immigration and Naturalization Service wrongfully imposed a rule that required visa applicants who work in a professional capacity in a religious vocation to have formal religious training?
The court ruled that no formal rulemaking was required because the agency was merely interpreting previously-approved regulations.
The court ruled that no formal rulemaking was required because the Immigration and Naturalization Service was exempt from the Administrative Procedures Act.
The court upheld the rule on the basis that as a potential immigrant, the plaintiff lacked standing to sue.
The court struck the rule on the basis that the Immigration and Naturalization Service lacked the authority to pass any rules whatsoever when First Amendment freedom of religion rights were at issue.
The court struck the rule on the basis that all substantive rules adopted by an agency creating law must be implemented through formal rulemaking procedures.

4 points

Question 8

  1. An administrative law judge’s decision may be directly appealed to:
a state trial court.
the full commission or head of an agency.
the circuit court of appeals.
the Senate.
administrative law judge’s decisions are final and may not be appealed.

4 points

Question 9

  1. When courts rely on precedent, they are obeying __________.
common analysis
res judicata
stare decisis
in rem process
federal law

4 points

Question 10

  1. Congress created federal administrative agencies through passage of what type of legislation?
Administrative
Enabling
Statutory
Agency
Interstate

4 points

Question 11

  1. What usually happens to decisions of administrative law judges that are appealed to the federal court system?
The decisions are usually upheld.
The decisions are usually denied.
The decisions are upheld approximately 50% of the time.
The decisions are generally upheld as a matter of law unless a jury is requested.
None of these since there is no right of appeal to the federal court system.

4 points

Question 12

  1. What do the initials ALJ represent in the administrative law arena?
Administrative Legal Journal
Agency Legal Jargon
Administrative Law Judge
Agency Legal Judge
Agency Law Jurisprudence

4 points

Question 13

  1. Which of the following is a type of alternative dispute resolution?
Consultation
Mediation
Case argument
Case analysis
Focus grouping

4 points

Question 14

  1. Which of the following do appellate courts primarily handle?
Questions of law
Questions of fact
Questions of law and fact
Cases when they initially enter the legal system
Questions of law and fact, and also cases when they initially enter the legal system

4 points

Question 15

  1. Which of the following is accurate regarding the speed and cost of alternative dispute resolution?
It is usually faster and cheaper.
It is usually faster but more expensive.
It is usually slower and more expensive.
It is usually slower but cheaper.
No studies have known, so the answer is unknown.

4 points

Question 16

  1. The term __________ involves the use of past decisions to guide future decisions.
commonality
precedent
restatement
uniformity
modeling

4 points

Question 17

  1. Which of the following is FALSE regarding executive agencies at the federal level?
The president with the advice and consent of the U.S. House of Representatives appoints the administrative head of an executive agency.
The president may discharge executive-agency heads at any time, for any reason.
Executive agencies are usually under one of the cabinet-level departments.
Executive agencies are generally located within the executive branch.
Executive agencies tend to have responsibility for making rules covering a broad spectrum of industries and activities.

4 points

Question 18

  1. Which of the following are the most common types of rulemaking done by agencies?
Formal and hybrid
Informal and hybrid
Formal and informal
Judicial and informal
Legislative and formal

4 points

Question 19

  1. Positive abstractions that capture our sense of what is good or desirable are __________.
ethical ideas
values
conscience demands
desirable principles
action goals

4 points

Question 20

  1. Billy knows that he can bring his case against Bob in a state court in Tennessee. He is unsure, however, of which county in which to proceed. Which of the following addresses the proper county?
In personam jurisdiction
Venue
Subject-matter jurisdiction
Diversity jurisdiction
Long-arm jurisdiction

4 points

Question 21

  1. Which of the following is true regarding federal jurisdiction?
There is no exclusive federal jurisdiction in civil matters.
If a case falls within federal jurisdiction, it may not also fall within state jurisdiction.
Some cases fall within both federal jurisdiction and state jurisdiction, but there is no exclusive federal court jurisdiction.
Some cases fall within both federal jurisdiction and state jurisdiction, but that only occurs in criminal matters.
Some cases fall within both federal jurisdiction and state jurisdiction, but the federal court system has exclusive jurisdiction over some cases.

4 points

Question 22

  1. Business ethics:
results in a set of correct decisions made by a company.
refers to a standard of business conduct.
can improve business decisions.
refers to a standard of business conduct and can improve business decisions.
results in a set of correct decisions made by a company and can improve business decisions.

4 points

Question 23

  1. Patricia, the president of a company that makes batteries, has a new interest in the environment. She recently went to a seminar on environmental dangers and has decided to take steps to clean things up. She started at home and was also committed to change things at work. Patricia had to face the fact that her company has been cheating and is not in compliance with applicable environmental regulations due to dumping in a nearby river. Her company has never been cited, however, because it employs a very large number of people in the community, including the mayor’s wife and the chief-of-police’s brother. On her mission to clean things up, Patricia has decided to go even further than the law requires and install the very latest environmental protections. When she announced her plan, the chair of the company’s board of directors, Cindy, had a meeting with Patricia. Cindy told Patricia to analyze the situation carefully because the cost of the additional equipment would mean no dividend to shareholders and no raise for employees. Furthermore, Cindy told Patricia that installing all the new equipment would result in higher prices for the company’s batteries and could bankrupt the company because of foreign competition. Cindy hinted that Patricia could be fired if she persisted. Cindy suggested that Patricia just be concerned with a minimal standard of ethics. Which of the following is the minimal standard that a business must meet in a consideration of business ethics?
Decisions must meet the criteria of a follower of the WPH framework for business ethics.
Decisions must meet the requirements of the most important stakeholders.
Decisions must receive a majority vote of acceptance by employees.
Decisions must be legal.
Decisions must be legal, and decisions must receive a majority vote of acceptance by employees.

4 points

Question 24

  1. The United States Constitution and __________ establish the fundamental principles and rules by which the United States and the individual states are governed.
the administrative rules
the procedural rules
the constitution of each state
the bylaws of each state
both the procedural rules and the bylaws of each state

4 points

Question 25

  1. Which of the following is true regarding administrative agencies?
There are state administrative agencies, but there are no federal administrative agencies.
There are federal administrative agencies, but there are no state administrative agencies.
There are state and federal administrative agencies, but there are no local administrative agencies.
Administrative agencies exist only at the local county level.
Administrative agencies exist at the federal, state, and local levels.

4 points

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Principles of Economics

Chapter 1

1.   What determines whether or not a resource is scarce? Why is the concept of scarcity important to the definition of economics?

2.   Discuss the impact of rational self-interest on each of the following decisions:

a.  Whether to attend college full time or enter the workforce full time

b.  Whether to buy a new textbook or a used one

c.  Whether to attend a local college or an out-of-town college

4.   The owner of a small pizzeria is deciding whether to increase the radius of delivery area by one mile. What considerations must be taken into account if such a decision is to increase profitability?

Chapter 2

1.     Suppose you go to a restaurant and buy an expensive meal. Halfway through, despite feeling full, you decide to clean your plate. After all, you think, you paid for the meal, so you are going to eat all of it. What’s wrong with this thinking?

2.   You can either spend spring break working at home for $80 per day for five days or go to Florida for the week. If you stay home, your expenses will total about $100. If you go to Florida, the airfare, hotel, food and miscellaneous expenses will total about $700. What’s your opportunity cost of going to Florida?

4.     Provide some examples of specialized markets or retail outlets. What makes the Web so conducive to specialization?

 
 

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PSY294 – Lab Report – Memory Span – Data

PSY294 – Lab Report – Memory Span – Data
Many theories of cognition propose that there is a short-term or working memory
system that is able to hold a limited amount of information for a short period of time.
The memory span experiment is one measure of working memory capacity. In this
experiment, participants are given a list of items and asked to recall the list. The list
length is varied to see at what list length participants will make make few errors. That
list length is the memory span for that person on that task. Individuals with larger
memory spans can better keep in mind different stimuli, and this seems to give them
an advantage for a wide variety of cognitive tasks. Memory span has been linked to
performance on intelligence tests, standardised tests, reading skills, problem solving,
and a variety of other cognitive tasks.
The very existence of short-term memory is largely based on memory span types of
experiments, as it was noted that memory span was approximately seven items (plus
or minus two) for a wide variety of stimuli. This suggested a simple storage system
that held approximately seven items. Later studies demonstrated that memory span
could be systematically influenced by a variety of stimulus characteristics, including
the type of item. These findings have suggested that the capacity of short-term
memory is controlled by verbal processes. This experiment allows you to measure
your memory span for three different stimulus types.
Methods
On each trial, you saw a list of items presented one at a time in random order and
were asked to recall the items in the same order in which they were presented. If you
got a list correct, the list length increased by 1 for that type of material. If you got a list
incorrect, the list length decreased by 1.
The independent variable is the type of material you were asked to recall: digits,
letters, or words. Memory span can be measured in lots of different ways. In this lab,
the dependent variable is the length of the last list you correctly recalled.
The first list of each type of item was 3 items long. The longest list that was shown
was 10, so the maximum score possible is 10.
Independent Variable
Our Independent Variable (IV) is “Type of List” or “List Type” or “Stimulus Type”: digits,
letters, or words.
Dependent Variable
Our dependent variable (DV) is the length of the last list that was correctly recalled.
Data
The data were not screened for outliers. Raw data is available on LMS under Lab 02.
Analyses
A repeated-measures ANOVA was conducted with an alpha level of 0.05.
It’s your job to interpret and present this data, in APA format, in your lab report.
If you are going to use a graph, be sure to include appropriate error bars. If you are
reporting the descriptives in text or in a table, then you can report the Standard
Deviation (SD) found in the descriptives table.
Consider the use of tables or graphs to display descriptive statistics. Continuous
variables should be displayed in a line-graph; categorical variables should be
displayed in a bar graph.

GLM Digits Letters Words
/WSFACTOR=ListType 3 Polynomial
/MEASURE=Length
/METHOD=SSTYPE(3)
/PLOT=PROFILE(ListType)
/EMMEANS=TABLES(ListType) COMPARE ADJ(BONFERRONI)
/PRINT=DESCRIPTIVE ETASQ
/CRITERIA=ALPHA(.05)
/WSDESIGN=ListType.
General Linear Model
[DataSet0]
Within-Subjects Factors
Measure: Length

ListType Dependent
Variable
123 Digits
Letters
Words

Descriptive Statistics

Mean Std.
Deviation
N
Digits
Letters
Words
6.6267
5.8933
4.0667
1.40252
1.41491
.92444
150
150
150

Multivariate Testsa

Effect
ListType Pillai’s Trace
.
Source
766 242.73
Type III Sum
of Squares
7b
df
2.000 148.
Mean Square
000
F
.000
Sig.
.766
Partial Eta
Squared
Wilks’ Lambda
Hotelling’s Trace
Roy’s Largest Root
.
3.
3.
ListType Sphericity Assumed
Greenhouse-Geisser
Huynh-Feldt
Lower-bound
234 242.73
280 242.73
280 242.73
521.404
521.404
521.404
521.404
7b
7b
7b
2
1.976
2.000
1.000
2.000 148.
2.000 148.
2.000 148.
260.702
263.810
260.702
521.404
000
000
000
264.914
264.914
264.914
264.914
.000
.000
.000
.000
.000
.000
.000
.766
.766
.766
.640
.640
.640
.640
Design: Intercept
Within Subjects Design: ListTy
a.
b. Exact statistic
Error(ListType) Sphericity Assumed
Greenhouse-Geisser
Huynh-Feldt
Lower-bound
pe
293.262
293.262
293.262
293.262
a
.984
.996
.984
1.968
298
294.489
298.000
149.000

Value F
Hypothesis
df Error df Sig.
Partial Eta
Squared
Mauchly’s Test of SphericityMeasure: Length

Within Subjects Effect M
Source ListType
ListType near
(I) ListType (J) ListType
auchly’s W
Approx. C
Square
of Squares df
491.520 1
Mean Difference (I-J)
i
df
Mean Squ
491.5
Std. Error
Sig.
are F
20 450.74
Sig.
b
Greenhouse
Sig.
Squared
95% Confidence Interval for Difference
b
Tests the null hypothesis
Quadratic
Error(ListType) Linear
1 2
3
that the error covariance
29.884 1
162.480 149
.733
*
2.560*
matrix of th
29.8
1.0
.112
.121
e orthonorm
84 34.04
90
.000
.000
alized transformed depe
7 .000 .
.462
2.268
ndent variables
186
1.005
2.852
proportional to an identit
Design: Intercept
a.
Quadratic
2 1
3
y matrix.
130.782 149
-.733
*
1.827*
.8
.112
.111
78
.000
.000
-1.005
1.559
-.462
2.095
May be used to adju
b.
3 1
2
st the degrees of freedom
-2.560*
-1.827*
for the ave
.121
.111
raged tests o
.000
.000
f significance. Correcte
-2.852
-2.095
d tests are displ
-2.268
-1.559
2 .000 .7
Lower Bound
52
Upper Bound

Epsilonb
Geisser Huynh-Feldt Lower-bound
ListType .988 1.775 2 .412 .988 1.000 .500
Within Subjects Design: ListType
the Tests of Within-Subjects Effects table.
Page 1
Tests of Within-Subjects Effects
Measure: Length
Tests of Within-Subjects Contrasts
Measure: Length
Type III Sum
Partial Eta
Tests of Between-Subjects Effects
Measure: Length
Transformed Variable: Average
Source
Type III Sum
of Squares df Mean Square F Sig.
Partial Eta
Squared
Intercept
Error
13755.876 1 13755.876 4817.459 .000 .970
425.458 149 2.855
Estimated Marginal Means
ListType
Estimates
Measure: Length
ListType
Mean Std. Error
95% Confidence Interval
Lower Bound Upper Bound
123
6.627 .115 6.400 6.853
5.893 .116 5.665 6.122
4.067 .075 3.918 4.216
Page 2
Pairwise Comparisons
Measure: Length
Based on estimated marginal means
*. The mean difference is significant at the
b. Adjustment for multiple comparisons: Bonferroni.
Multivariate Tests
Value F
Hypothesis
df Error df Sig.
Partial Eta
Squared
Pillai’s trace
Wilks’ lambda
Hotelling’s trace
Roy’s largest root
.766 242.737
a 2.000 148.000 .000 .766
.234 242.737
a 2.000 148.000 .000 .766
3.280 242.737
a 2.000 148.000 .000 .766
3.280 242.737
a 2.000 148.000 .000 .766
Each F tests the multivariate effect of ListType. These tests are based on the linearly independent
pairwise comparisons among the estimated marginal means.
a. Exact statistic
Profile Plots
ted Marginal Means
7.00
6.50
6.00
5.50
Estimated Marginal Means of Length
Style Guides
These guides tell you how to write and format a psychology lab report.
Writing for Psychology
6th Edition
Robert P. O’Shea, Wendy McKenzie
http://prospero.murdoch.edu.au/record=b2721143
An interactive approach to writing essays and research reports in psychology
3rd Edition
Lorelle J Burton
http://prospero.murdoch.edu.au/record=b2154828
Background Reading and Tips
One of the skills that these assignments require you to use and develop is being able
to quickly distinguish between literature that is and isn’t relevant. Don’t get swamped
reading up on many different theories, unless you have reason to think they will
provide information that is
directly relevant to our experiment. Make sure you know
how to direct your PsychInfo searches.
Refer frequently to the lab report criteria posted on LMS.
You must go beyond the textbook and what was discussed in the tutorial. Use
PsycInfo, Google Scholar, the library, etc. Do not cite internet websites that are not
peer-reviewed. That is, only use published journal articles. Do not copy from or cite
the slides.
Your hypotheses are very important. They should be a specific positive prediction
about what you expect to happen, stated in terms of the variables you are measuring
and manipulating. Predict that participants in group A will score more highly than
participants in group B on measure C.
Your hypotheses should be a logical extension of the evidence and arguments you
present in your introduction. In your introduction, you should construct a rationale for
your hypotheses. Do not just base your hypotheses on the results obtained.

 
 

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Data 3

Data 3

 

Even the most intelligent manager is prone to personal biases and pitfalls that can lead to bad decisions. We all carry biases based on our personal experiences. And we can all fall into various traps that lead to decisions that seem perfectly logical at the time but in retrospect, we see that we should have known better.

 

In the materials, including Bolland and Fletcher (2012); Kourdi (2003); and Hammond, Keeney, and Raiffa (2008); several specific decision-making biases and pitfalls are discussed. Collectively these are known as cognitive biases. Some of the common pitfalls and biases discussed in these readings include overconfidence bias, confirmation (self-confirming) bias, sunk-cost bias, framing bias, and hindsight bias.

 

Carefully review all three of these readings and make sure you understand the different types of biases. Then read through the scenarios below and think about what kind of biases are demonstrated in each scenario. For each scenario, carefully explain which specific bias or biases is demonstrated by the decision and what can be done to avoid this bias in the future. Make sure to pick at least one specific bias that you read about for each scenario, and explain your reasoning. Use references to at least one of the three required readings from the background materials in your discussion of each scenario below. Your paper should be 4–5 pages in length:

 

  1. The Chief Financial Officer (CFO) of a corporation is of the strong belief that marketing is not a good use of the company’s money. Someone shows her data from several years ago showing that during a period of high spending on marketing, sales did not go up. She says, “See, I told you marketing is not a good use of our budget!” and cuts the marketing budget to almost zero. Following the cut in the marketing budget, sales also start to drop dramatically. When asked by an employee if the drop in sales is due to the cut in the marketing budget, she says, “No!” and insists there must be a different explanation. What kind of decision-making bias do you think this represents, and why? What steps would you recommend to this CEO to reduce this kind of bias? Support your answer with references to at least one of the three background readings.
  2. A CEO decides that he wants to greatly expand the company’s market by purchasing a major rival. This acquisition would double the company’s market share. However, several of his top managers warn him that such a purchase would require the company to take out a huge amount of debt to finance this merger, and that many of these large mergers have failed. They also point out that the organizational culture of the other company is very different and that managing this merger would be very difficult. Nonetheless, the CEO insists that he can overcome the odds and plans to go through with the merger. What kind of decision-making bias do you think this represents, and why? What steps should this leader take to avoid this bias? Support your answer with references to at least one of the three background readings.
  3. A CEO wants to purchase a new factory. He is currently deciding between two factories. The owner of Factory A brags that 94% of products produced at the factory are free of defects. The owner of Factory B cautions that his factory has a 5% defect rate but management and staff are working very hard to reduce the rate. The CEO decides to purchase Factory A citing its strong 94% rate of success in producing defect-free products even though Factory B actually has a 95% rate of success. What kind of decision-making bias do you think this represents, and why? What steps should this leader take to avoid this bias?
  4. A CEO of an automobile company decides to introduce a new hybrid vehicle using cutting-edge technology. A huge amount of money is spent in research and development as well as advertising. But when the car is completed sales are very slow and the price has to be cut so low that the company is losing money on every hybrid vehicle sold. She is advised to simply abandon the car to avoid further losses in profits, and focus her energy on selling profitable vehicles. However, she insists it is unwise to abandon the hybrid vehicle given that so much money has already been put into the project. What kind of decision-making bias do you think this represents, and why? What steps should this leader take to avoid this bias? Support your answer with references to at least one of the three background readings.
  5. Conclude the paper with a discussion about which one of the decision-making biases you think is the most dangerous to a leader, and explain your reasoning.
 

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CASE STUDY: YOUNGSTOWN BANK

CASE STUDY: YOUNGSTOWN BANK
(Adapted from Greenbaum, Thakor, & Boot. 2016. Contemporary Financial
Intermediation 3
rd Ed.)
Introduction
John Standard has been the CEO of Youngstown Bank since the summer of 1998.
Before taking this position, he had been a vice president of operations for Interbank, a large
regional bank. One of the primary reasons that he was hired by Youngstown Bank was his
experience with a large operating department. At the time, Youngstown Bank had been
going through some difficulties related to inefficient operating procedures, and Mr.
Standard had acquired a reputation at Interbank for strong motivational and organizational
skills. His management of Youngstown has been almost flawless, and the institutional
culture of the bank takes great pride in the fact that the bank is a very “tight ship.”
Youngstown Bank has been in business in Youngstown, Arizona, since 1910. When
John Standard was brought in as CEO in 1998, the stock price was at 4½, down from a high
of 10. The previous CEO was the son of the founder, and he had resisted the replacement of
legacy systems with more modern information processing infrastructure, allowing the
operating departments to languish in mediocrity. Prior to Mr. Standard’s arrival, people
barely even knew what the bank’s policies were on loans! The only kinds of products
Youngstown Bank offered were simple fixed-rate loans. John Standard changed all that. He
put together a set of standard procedures for loans and loan commitments, and attempted to
tailor the bank’s policies to the risk and liquidity needs of its customers. And the stock
price responded; by the end of 1999, Youngstown Bank’s stock price had doubled to $9,
and continued to rise through 2000.
But starting in 2001, the bank’s stock price has been languishing. Even though the
bank’s basic structure has not changed and profitability is good, the stock price has simply
not moved upward over time, although the stock prices of some competing banks have
moved up significantly. The major shareholders in the bank aren’t too upset yet, but there
have been a few grumblings. Standard realizes that there could be major trouble down the
line unless he can find a way to get the share price up. He decides to call in his chief
financial officer (CFO), Bryan Shelton, to discuss the stock price situation.
The Initial Meeting
Standard : Come on in, Bryan, and have a seat. Let’s get right down to business here.
I’m worried about our stock price performance lately. You’ve been with Youngstown
Bank for three years now – what was the stock price when you got here?
Shelton : It was right around 37, I think.
Standard : Well, it is just over 40 now. We closed at 40 ¼ yesterday. That’s only 3
dollars in 3 years! What is going on? I don’t understand it. Why is our stock price so
low? Take a look at how our market-to-book ratio compares with that of our
competitors. It is in the dirt! (See Exhibit A). Why?

Shelton : That’s a good question. Considering how precisely we control everything,
and considering that our profits and cash flows are still looking good, I don’t know of
any reason why the stock should be down. I’m tempted to just say that the market is
failing to recognize our value. Maybe they’ll come around when we post good
numbers again next quarter.
Standard : Well, you might be right, but I’m uncomfortable. Maybe the market is
reacting to something that we don’t know about. I think we should look into this
some more, and try to get to the bottom of it. [ The meeting ends on that note, and
Mr. Shelton says that he will look into the matter carefully and report back. He agrees
that they should meet a week later to discuss the issue again. ]
The Second Meeting
Shelton : Well, I’ve looked into this some more, and frankly I’m still puzzled. Take a
look at these numbers. Our current balance sheet looks good, and compares very
favorably with the way it looked during 2000, the heyday of our stock price rise (see
Exhibit B). Our key rations look just fine, too, compared to 2000 (see Exhibit C).
Moreover, we also seem to be doing well relative to industry averages (see Exhibit
D).
Standard : This all looks great, just like I thought it would. Look at this one. ( He
points at Exhibit D. ) Our return on assets is great. So what do you think?
Shelton : Well, one of the people I had helping me to put these numbers together for
you suggested that we might want to think about our loan commitments, which don’t
appear on our balance sheet. Maybe those are dragging our stock price down.
Standard : That doesn’t make sense. Our policies on loan commitments haven’t
changed, have they? What kind of data do you have on those?
Shelton : Well, take a look at these. ( He pulls out Exhibits E and F. ) These show the
history of interest rates and the fees that we charge for loan commitments. I checked
on the kinds of borrowers who’ve been buying these commitments, and the quality of
the borrowers seems to be in line with our history. To tell you the truth, I’m still
struggling with what all this stuff means. I don’t see that anything has changed
anywhere. But our stock price. . .
Standard : Well, all I can tell you is keep working on it. See if you can find anything
here that will help explain why our stock price is low. Is there something that we’ve
overlooked? Is the bank in some danger that we’ve failed to realize? [ Again, the
meeting ends and they agree to meet in a week. This time, Standard has some specific
questions to which he wants answers. Shelton plans to go over everything carefully,
looking for some explanation for the poor performance of the stock price, an
explanation that takes into account all the facts about the bank’s situation. ]

The Assignment
Mr. Standard gives Mr. Shelton these specific questions:
1. Explain the difference between the bank officer’s and the market perception of the
the value of the bank’s shares. Identify key factors for each position.
2. Does the stock price indicate any dangers the bank may face? If so what strategies
could offset those dangers, and which should the bank adopt?

 
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Posted by on July 6, 2017 in academic writing

 

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Week 7 Learning Activities

Week 7 Learning Activities

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Learning Activity 1:  Theme One: Technology and decision making how it makes change.

Less-expensive information and communication technologies have changed where decisions are made on the corporate ladder.Access to databases and advanced software allows lower-level employees to act with more autonomy, but the spread of e-mail and mobile phones means supervisors can be consulted with greater ease than ever before.

Using the reading explain the impact that technology has on decision making and what this means for an organization with respect to “creating a chain of command”.

Learning Activity 2:  Theme Two

Using the reading for this week read the fact pattern below and discuss the following ideas.

  • How does this fact pattern show the various levels of decision making in an organization?
  •  Identify the organizational ethical decision that created the current crisis for Sycamore Pharmaceuticals.
  • Examine and identify the current decisions that face Dominquez, Blake, and the organization. Using the appropriate decision making process for each level walk through each person and how they may decide their fate.
  • Based on the reading suggest ways that the leaders might change the culture and values of the corporation to make ethical decisions.
  • How could the leaders personally change their collective response to decision making in the future?

Sycamore Pharmaceuticals

“Did you see the report on CNN last night, claiming Sycamore manipulated scientific studies on Osteoporin?” asked Cole Dominguez, as he rushed into John Blake’s office, quickly shutting the door behind him. “I can’t believe this has leaked out. If the FDA pulls this drug from the market, we can kiss next quarter’s big bonus goodbye,” he exclaimed. Blake had seen the report and had expected Sycamore, a global pharmaceutical company, to come under fire for promoting its popular rheumatoid arthritis drug, Osteoporin, for the treatment of other diseases like Crohn’s disease and lupus—despite negative scientific studies that challenged its effectiveness. However, the aggressive marketing campaign was well underway when the unfavorable studies came in.

Sycamore’s top management chose to suppress the unflattering findings and move ahead with a systematic marketing strategy that created an illusion of Osteoporin’s effectiveness and offered financial incentives to doctors for prescribing the drug even in cases where there was no evidence it would work.

John Blake sat back in his chair and nervously ran his fingers through his hair. He exhaled deeply and looked at Dominguez, saying, “We knew we were taking a risk, Cole, aggressively marketing a drug without scientific studies to back up our claims that it worked.  The CNN report is only the beginning, my friend. You and I should expect to be called to reveal everything we know.  Ethically, Sycamore is responsible for publishing reports on its drugs, even the ones that aren’t so flattering.”

Dominguez knew his position on the situation.  He would stand by Sycamore management team and back them up, no matter what.  He needed this job and knew he had been following orders. Dominguez recalled an e-mail from the CEO in 2008 that said, “. We should avoid publishing anything that damages Osteoporin’s marketing success.  Do not report anything that is negative. Delay these reports as long as legally possible.” Dominguez wondered aloud, “Weren’t we just following orders?” Following the report on CNN, Sycamore’s communications department went on high alert and moved into crisis mode.  Press releases and the corporate blog were issuing the same message to build credibility and put out the rapidly growing fire. In part, the statement said, “Sycamore is committed to the safe distribution of Osteoporin and the communication of medically or scientifically significant results of all studies, regardless of outcome.”   Blake shuddered as he read the blog and glanced up at his frantic colleague. “You knew this was going to happen, didn’t you Cole? How long can deception like this stay under wraps? Don’t we have a responsibility to the poor man or woman popping that pill every day? They think it’s helping them. It probably isn’t. This just feels so wrong,” he said as he buried his head in his hands. Their conversation was interrupted by a knock at the door. Blake waved in the general manager, who asked if they would both meet individually with an FDA representative that afternoon to answer questions about their knowledge of the timing and content of the scientific studies on Osteoporin for the treatment of Crohn’s disease and lupus. Blake’s gut feeling was that he needed to be honest with the FDA, but he knew he would likely be fired or demoted if he didn’t support management.  He also knew that pulling Osteoporin from the market would result in severe losses for Sycamore and the loss of a significant bonus for himself.

Source: Based on Gardiner Harris, “Document Details Plan to Promote Costly Drug

The New York Times (September 2, 2009), http://www.nytimes.com/2009/09/02/business/02drug.html?_r=1&emc=eta1

(accessed September 30, 2009); and Keith J. Winstein, “Suit Alleges Pfizer Spun

Unfavorable Drug Studies,” The Wall Street Journal (October 8, 2008), p. B1.

 

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Quiz 1

Question 1 0.5 / 0.5 points

Pertaining to international trade, the acronym GATT stands for:

A)

Global Agency of Textile Trade

B)

Georgia Affiliation of Timed Transit
Correct Response

C)

General Agreement on Tariffs and Trade
Question 2 0.5 / 0.5 points

Which function is responsible for raising the funds required for the business to grow?
Correct Response

A)

Finance

B)

Marketing

C)

Accounting
Question 3 0.5 / 0.5 points

When determining which country has a comparative advantage in producing a good or service, one must consider:

A)

balance of trade
Correct Response

B)

opportunity cost

C)

balance of payments
Question 4 0.5 / 0.5 points

A supply curve is a graphical illustration of the relationship between price, shown on the vertical axis, and ________, shown on the horizontal axis.

A)

Quantity demanded
Correct Response

B)

Quantity supplied

C)

Supply
Question 5 0.5 / 0.5 points

Two countries, Footland and Pedtopia, are participating in trade. Both countries are capable of making both athletic shoes and digital music playing devices, but they are not equally effective at both. The table below shows what each country is capable of producing if all labor is focused on a single product. Which statement(s) below are correct?

Product

Footland

Pedtopia

Pair of Shoes

100

150

Digital Music Devices

5

30

A)

Footland has a comparative advantage in shoes and Pedtopia has an absolute advantage in digital music devices
Correct Response

B)

Pedtopia has a comparative advantage in both products

C)

Footland has a comparative advantage in both products
Question 6 0.5 / 0.5 points

Pertaining to international trade, the acronym WTO stands for:
Correct Response

A)

World Trade Organization

B)

Working Trade Organization

C)

World Transaction Operations
Question 7 0.5 / 0.5 points

A change in quantity supplied results from a change in ________, and leads to ________.

A)

A supply shifter: a shift of the supply curve to the right or left
Correct Response

B)

Price: a movement along the supply curve

C)

Quantity demanded: a shift of the supply curve to the right or left
Question 8 0.5 / 0.5 points

Complete the following sentence. If people expect that the price of electronics will increase soon, that belief may result in a(n):

A)

Decrease in the price of electronics today

B)

Decrease in the demand for electronics today
Correct Response

C)

Increase in the demand for electronics today
Question 9 0.5 / 0.5 points

Statistics that indicate change in the status of the economy a few months in the past are called ________ economic indicators.
Correct Response

A)

Lagging

B)

Prognosticating

C)

Leading
Question 10 0 / 0.5 points

Tiny Taste Buds was a gourmet baby food company founded in 2006 and was growing until the fall of 2008 when potential investors in the company pulled out because they were concerned about the weakening economy and chose to make fewer outside investments. Based on the information provided about the company, what type of organization was Tiny Taste Buds?
Incorrect Response

A)

Benefit corporation
Correct Answer

B)

For-profit

C)

Non-profit
Question 11 0.5 / 0.5 points

A person who seeks to earn profits by finding new ways to organize factors of production is a(n):

A)

Manager
Correct Response

B)

Entrepreneur

C)

Employee
Question 12 0.5 / 0.5 points

An economy has remained the same for many years and it is not unusual to see families stay in the same occupation for generations. This is most likely a ________ economy.

A)

Command
Correct Response

B)

Traditional

C)

Socialist
Question 13 0 / 0.5 points

Which of the following has primary responsibility for financing economic development on behalf of the international community?
Correct Answer

A)

the World Bank

B)

the WTO
Incorrect Response

C)

the International Monetary Fund
Question 14 0.5 / 0.5 points

In 2015, the fictional country Moonbeam Island had $1.8 billion in imports and $1.2 billion in exports. Its balance of trade is:

A)

$600 million surplus

B)

$3 billion surplus
Correct Response

C)

$600 million deficit
Question 15 0.5 / 0.5 points

Shopping online you find a new pair of running shoes that is a brand you have purchased before. They are offered for 1,500 Thai baht. You check the exchange rate and find that the current exchange rate for the baht is $.03 bahts per dollar. What is the price for the shoes in U.S. dollars?
Correct Response

A)

$45.00

B)

$450.00

C)

$4.50
Question 16 0.5 / 0.5 points

If a country is seeking credit to stabilize its banking system to prevent a collapse that would have a global impact then it would turn to:

A)

the Federal Reserve
Correct Response

B)

the International Monetary Fund

C)

the World Bank
Question 17 0.5 / 0.5 points

Which of the following events will increase supply in the market for natural gas?

A)

Demand for natural gas increases
Correct Response

B)

A new technique for inexpensively accessing new reserves is discovered

C)

The price of natural gas rises
Question 18 0.5 / 0.5 points

An organization’s culture is strongly influenced by ________.

A)

Entry level employees

B)

Retired employees
Correct Response

C)

Top managers
Question 19 0.5 / 0.5 points

When the Japanese yen goes up relative to the U.S. dollar:
Correct Response

A)

Japanese goods will be more expensive for U.S. citizens

B)

U.S. citizens will receive more Japanese yen for each dollar they exchange

C)

Japanese goods will be cheaper for U.S. citizens
Question 20 0.5 / 0.5 points

According to the law of demand, assuming all other variables are held constant, ________.
Correct Response

A)

As the price of bread increase, the quantity of bread demanded will decrease

B)

As the price of bread increases, the quantity of bread demanded will increase

C)

As the demand for bread increases, the price of bread will also increase
Question 21 0.5 / 0.5 points

Which of the following is/are external stakeholders in a business?
Correct Response

A)

Creditors

B)

Employees

C)

Owners
Question 22 0.5 / 0.5 points

When an economic system is characterized by an emphasis on entrepreneurship and free enterprise, we would classify it as a ________ as opposed to a ________, where the government makes the majority of the decisions regarding economic goals.

A)

High-income: low-income

B)

Regulated: lack of regulation
Correct Response

C)

Market oriented: command economy
Question 23 0.5 / 0.5 points

All economies in the world share three primary goals, which are:

A)

Growth, happiness and price stability

B)

Productivity, high employment and price stability
Correct Response

C)

Growth, high employment, and price stability
Question 24 0.5 / 0.5 points

________ is the system of shared beliefs, values, customs, and behaviors that govern the interactions of members of a society.

A)

Organization
Correct Response

B)

Culture

C)

Humanity

 
 

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