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wlad13 [49]
3 years ago
11

If research in the management area cannot be 100% scientific, why bother to do it at all? Comment on this question

Business
1 answer:
DerKrebs [107]3 years ago
6 0

Answer:

I can rearrange the words and add a couple of them to this statement and say that scientific research cannot be 100% accurate, so why bother to do it at all?

Management is a social science, therefore, most of the research carried out will not follow the scientific method since the number of variables are virtually infinite, e.g. there are trillions of variables in an economy like personal tastes and preferences of each individual, different income levels, how taxes affect each individual, individual savings habits, how marketing affects each individual, etc.

Some microeconomics research follows the scientific method but under very specific and controlled circumstances.

Research is an important tool for planning, and planning is one of the basic functions of management. Research can help a manger to predict future events, usually based on existing data and including new factors that can alter consumers' habits and decisions, e.g. research that tries to determine the future demand of hybrid (or electric or any other type of alternative fuel) vehicles based on historical demand of vehicles plus how will consumers' habits and preferences change in the future regarding green technologies.

Since we are dealing with humans, and humans are extremely unpredictable, research can serve management as a guide, but it doesn't represent an exact figure.

This is the same reason why no two analysts value stocks or companies in the same way, since subjective factors always exist, e.g. will large numbers of consumers accept electric cars, or will they prefer only hybrids, or would they accept other technologies like hydrogen instead. The previous Honda Civic which ran on compressed natural gas used to be the greenest car, but very few people accepted it. The Honda clarity runs on hydrogen, but still only Californians seem to like it. But Tesla is now the most valuable car company even though it barely sells any cars at all. According to market research, everyone will start buying Teslas in the near future and no one will buy any other brand (Tesla is worth more than virtually all other car companies combined), but is that research accurate? Only time will tell.

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In control theory, how many control systems are in place to work against our tendencies to deviate?
lutik1710 [3]
<span>Two systems are in place, inner and outer control systems. Inner controls consist of our personal morality and our general codes of ethics. Outer controls, on the other hand, are the people in our lives (family, friends, authority figures) who place indirect pressure on people as a way of keeping them in line.</span>
7 0
3 years ago
As a gift from your parents, you just received $50,000 for your education. You can earn an annual rate of 8% on your investments
VashaNatasha [74]

Answer:

annual withdrawal = $15096.04

Explanation:

given data

present value = $50,000

annual rate = 8%

time = 4 year

to find out

How much can you withdraw each year

solution

we find here annual withdrawal amount that is express as

annual withdrawal = \frac{present\ value}{\frac{1-(1+r)^{-t}}{r}}   ................1

here r is rate and t is time

so put here value we get

annual withdrawal = \frac{50000}{\frac{1-(1+0.08)^{-4}}{0.08}}  

annual withdrawal = \frac{50000}{3.31212}

annual withdrawal = $15096.04

7 0
3 years ago
Which of the following tells you how much your credit card interest will be if you only pay the minimum balance each month? A La
PIT_PIT [208]
The answer is D 
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3 0
3 years ago
Minden Company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies sug
wlad13 [49]

Answer:

The present yearly net operating income or loss is  - $90,000

Explanation:

The computation of present yearly net operating income or loss is shown below:

Net income / Net loss = Sales - Variable cost - Fixed cost

The sales - variable cost is equal to contribution

Than, Contribution - fixed cost = net income

where,

Sales = Present Sales volume × Selling price

         = 15,000 × $70

         = $1,050,000

Variable cost = Present volume × Variable cost per unit

                     = 15,000 × $40

                     = $600,000

And, fixed cost = $540,000

So, net income / loss = $1,050,000 - $600,000 - $540,000

                                   = - $90,000

Hence, the amount shows negative which means the company has suffered a loss of $90,000

Thus, the present yearly net operating loss is  - $90,000

8 0
3 years ago
When a manager deciding how to most fairly identify internal candidates for a promotion she is making a __________.
s2008m [1.1K]

Answer:

A) <em>a moral judgement.</em>

Explanation:

(´・ω・`) hope this helps!

7 0
2 years ago
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