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Question 3: To effectively utilize organizational resources organization must indulge in risk management. You have to go beyond the definitions and critically evaluate how each element of risk management contributes to effective decision making.
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- Question 1: Risk Analysis is a critical function of an organization in order to sustain in this ever evolving and transforming world. Today organizational sustainability depends on investing in effective projects that could reap right results. Please reflect on how risk management can improve profitability in an organization.Question 4. Control and change Imagine that you have recently been appointed as a general manager of a medium-size enterprise. After a few months in this position, you realize that your middle managers and supervisors misunderstand the function of control. You decide to give a workshop to explain some of the important issues related to control and change. Write up a detailed script covering each of the following points: Q.4.1 The relationship between organizing and controlling. Q.4.2 What a control process entails. Q.4.3 The differences between output control and behavior control. Q.4.4 The importance for managers to involve subordinates in the control process and why managers should do so. Q.4.5 The main obstacles to organizational change and the techniques that managers can use to overcome these obstacles. Note: To help your management team better understand the function of control and change, you must clearly link the above script to the issues related to leadership, groups and…ETHICAL DILEMMA 2: Bounty Hunters His SUV carefully obscured behind a row of trees, Rick Raymond, private investigator, was on another case. This case was not to catch the unfaithful spouse or petty criminal in action. Instead, Raymond was tracking an employee, at the request of an employer, to determine whether an Orlando repairman was sick as he claimed today and as he had claimed to be several times recently. As we have seen, absenteeism is a huge problem for organizations that has left them desperate for solutions. One solution is to investigate. In the typical routine, when an employee calls in sick, the employer asks for the reason. If the reason is illness, and illness has been the reason for an abnormal number of times in the past, the employer hires a P.I. to follow the employee and photograph or videotape his or her activity outside the house. Private investigators also are used to ascertain whether individuals filing injury claims (and drawing worker’s compensation…
- Question 1 Four basic functions of management are Select one: a. Cooperating, organizing, planning and leading b. Controlling, leading, planning and organizing c. Motivating, organizing, planning and leading d. Cooperating, motivating, planning and leading Question 2 In the acronym PESTEL ( i.e.PESTEL analysis), the P is for: Select one: a. Planning b. Political c. Procedure d. Principle Question 3 On the law books, there are fines, although small, that speaks to the improper disposal of business waste to prevent ill-health issues in the environment and to its citizens. There is no law that speaks to the individual waste disposal. Based on this, would you conclude that Select one: a. What is legal is ethical b. What is ethical is illegal c. laws are not necessary for waste disposal d. all of the above Question 4 A code of ethics in an organization Select one: a. guarantees employees will act in an ethical manner. b. describes what is…Quantitative Methods 1.Which of the following is a decision-making criterion that is used for decision making under risk? a.) expected monetary value criterion b.) Hurwicz criterion (criterion of realism) c.) optimistic (maximax) criterion d.) equally likely criterion 2.If probabilities are available to the decision maker, then the decision-making environment is called a.) certainty. b.) uncertainty. c.) risk. d.) none of the above. 3.The most that a person should pay for perfect information is ________________ a.) the EVPI. b.) the maximum EMV minus the minimum EMV. c.) the maximum EOL. d.) the maximum EMV.CASE DISCUSSION Wambui had been managing the budget department for Faida Bank. Because the work experience gained here was useful, much of the budget analysis work done in the department was performed by a group of management trainees. The trainees tended to be recent college graduates who were ambitious; they expected the budget work experience to be the pathway into the prestigious auditing department. Wambui managed under the assumption that by maintaining an open-door policy her employees would bring any problems to her attention. As a result, she remained in her office and seldom met with the trainees. Instead she would peruse the budget reports they submitted and return them to her secretary without comment. The reports often bore numerous errors which the trainees would be expected to make but which Wambui’s quick persual of the documents did not catch. The department heads throughout Faida Bank who received the erroneous reports would complain directly to the trainee who…
- CASE DISCUSSION Wambui had been managing the budget department for Faida Bank. Because the work experience gained here was useful, much of the budget analysis work done in the department was performed by a group of management trainees. The trainees tended to be recent college graduates who were ambitious; they expected the budget work experience to be the pathway into the prestigious auditing department. Wambui managed under the assumption that by maintaining an open-door policy her employees would bring any problems to her attention. As a result, she remained in her office and seldom met with the trainees. Instead she would peruse the budget reports they submitted and return them to her secretary without comment. The reports often bore numerous errors which the trainees would be expected to make but which Wambui’s quick persual of the documents did not catch. The department heads throughout Faida Bank who received the erroneous reports would complain directly to the trainee who…CASE DISCUSSION Wambui had been managing the budget department for Faida Bank. Because the work experience gained here was useful, much of the budget analysis work done in the department was performed by a group of management trainees. The trainees tended to be recent college graduates who were ambitious; they expected the budget work experience to be the pathway into the prestigious auditing department. Wambui managed under the assumption that by maintaining an open-door policy her employees would bring any problems to her attention. As a result, she remained in her office and seldom met with the trainees. Instead she would peruse the budget reports they submitted and return them to her secretary without comment. The reports often bore numerous errors which the trainees would be expected to make but which Wambui’s quick persual of the documents did not catch. The department heads throughout Faida Bank who received the erroneous reports would complain directly to the trainee who…QUESTION 11 In order to determine how effective an organization's strategy is in achieving its goals, the organization need to integrate its systems, a, structure and leadership b. technology and human resources c. information and operational d. strategy and contral e structure and information