The hierarchy of business decision makers categorizes organizations based on how they use business research to make decisions. List and explain the three levels in the hierarchy.
The three levels in the hierarchy are the base tier, the middle tier, and the top tier. Organizations in the base tier are called intuitive decision makers because they use past experience and intuition to make decisions. The middle tier organizations are called standardized decision makers because they base some decisions on business research and others are past experience. The top tier is called the visionaries because they consider research to be the foundation of any good decision. This group ...view middle of the document...
Individuals must have access to personal information about themselves that an organization holds and be able to correct, amend, or delete that information where it is inaccurate. Organizations must take reasonable precautions to protect personal information from loss, misuse, and unauthorized access, disclosure, alteration, and destruction. Companies disclosing personal data to a third party must, with certain exceptions, adhere to the notice and choice principles. A third party must subscribe to the safe-harbor principles. Reasonable steps must be taken to ensure that data collected are reliable, accurate, complete, and current. Companies must ensure that they are readily available and affordable independent mechanisms to investigate consumer complaints, obligations to remedy problems, procedures to verify compliance with safe-harbor principles, and sufficiently rigorous sanctions to ensure compliance
What are the four characteristics of effective codes of ethics? Is anyone one characteristic critical for the effectiveness of the code?
Effective codes are regulative in nature, protect the public interest and those of the profession, are behavior-specific, and are enforceable. Without enforcement, standards that are regulative, protect the public and professional interest, and behavior-specific will still fail to be effective.
Explain the essential tenets of the scientific method and why this method is important for business research.
The scientific method is an approach to problem-solving that is based on 1) direct observation of phenomena, 2) clearly defined variables, 3) empirically tested hypotheses, 4) elimination of rival hypotheses, 5) statistical justification of conclusions, and 6) a self-correcting process. It is important as a basis for business research because it ensures that the conclusions we state from research results from empirical data and that other conclusions have been eliminated through the process.
Metro University has set a goal to increase the percentage of alumni who donate to the university and to increase the average amount given by those who have donated in the past. Metro U hopes that holding special events at homecoming designed specifically for alums will result in an increase in donations. Consequently, it is planning a special Alumni Bash for homecoming night and invitations have been sent to students who graduated between 1975 and 2000. Identify the dependent and independent variables in the example. State a hypothesis using the information provided.
The dependent variable is alumni donations (percentage change in alumni who donate and dollar change in the amount given). The independent variable is the use of special events for alumni. A possible hypothesis is: Alumni who attend the special events are more likely to donate and donate at a higher level than those who do not attend the events.
What are the three types of budgets in organizations where research...