Give feedback and constructive criticism or praise as a response to the discussion posts posted below. Or give something of value to add onto it.Each response post must be at least 100 words in length. All posts need to add significant value to the discussion.

Student One:

Question #2.

Define discrete and continuous metrics and give your own original example of each.

Business metrics is a way for a business to measure their success or failures of how they do business. Metrics are broken into two categories, discrete or continuous metric. “A discrete metric is one that is derived from counting something simple… While a “continuous metric are based on a continuous scale of measurement” (Evans, pg. 16, 2014).

I have experience with pulling metrics, I currently work as a Project Management Coordinator as a government contractor for a construction company, monthly I have to pull metrics for our performance metric review (PMR). We use the PMR to show our client how we are standing with our renovations projects within the building. The PMR is necessary also due to my company being scored by the government biannually on how we do business. This score plays into how much money we get for our next option year.

For the PMR the prime metric that we use is the continuous metrics. I have to keep track of and give our QA/QC supervisor the following: how many projects are in progress over budget, in progress under budget, in progress behind schedule, in progress ahead of schedule, post construction projects that are over budget, and post construction projects under budget. As for a discrete metrics since that includes pricing, I would say we have discrete metrics on standing pricing for a few jobs that we do. We have standing prices for installing tv brackets, ring and strings (this is running power and data for tv’s), de-installing tv brackets, and ADA door openers.

Student Two:

The definition for discrete is a data that has finite values or buckets. Continuous data technically have an infinite number of steps, which form a continuum. Discrete can take only integer values whereas continuous can take any value. Examples of discrete data can be, number of children’s in a household or number of languages a person can speak. Examples of continuous data can be the weight of cars or the speed of a car. To remember the difference between discrete and continuous the easy way is that discrete is counting and continuous is measuring. The term discrete implies distinct or separate, which means that whole numbers or integers cannot be broken into fraction or decimal. More examples under discrete would be the number of students in a school. Continuous can be measured on a scale and can be broken down into fractions and decimal. More examples under continuous would be money or time. When creating a bar graph it is represented by discrete data. When it comes to a histogram it is represented by the continuous data. You will find that variables will be continuous on one scale and discrete on another. Reading about the difference I would prefer that most of the values be discrete.

Student Three:

Integrity, to me, means doing the right thing even when no one is watching. According to Drakulevski & Nakov (2016), integrity plays a pivotal role in business growth. Integrity defines company guiding values and aspirations thus making the management make a reasonable projection of its growth. Managers can know the current situation of a firm and come up with the best strategies to enhance the organization growth. Integrity also plays a significant role when a business wants to approach investors for funds. A company of good integrity will win investors and stakeholders trust hence creating sustainability in its growth. It is noteworthy that a company of high integrity will carry out its dealings with honesty and accountability. A company of high integrity will make sure that its assets are valued relatively to attract many customers and also build an excellent reputation for the firm. Moreover, the company should understand when its assets are depreciating and adjust the prices transparently (Drakulevski & Nakov, 2016).

Integrity is therefore vital to entrepreneurs and small businesses when creating a solid financial plan. For instance, a company that values its consumers and investors will create a sound system that will, in turn, create a stable business environment (Trevino & Nelson, 2016). Entrepreneurs will be able to know where their businesses stand at in the market and devise ways to create competitive advantage. On the other hand, shareholders will gain values from the company.

Student Four:

Integrity is popularly defined as doing the right thing when no one is around. Integrity within a business means that owner is doing right by their customers. An entrepreneur should work with integrity and utmost honesty in their dealings with all their partners and customers. They should further be customer specific and always willing to serve. This attitude will help them fetch more business. Additionally, a high integrity company will always use the fair value of the assets in the valuation of itself. It will never overvalue its resources which will lead to false information and hence increase the investor’s risk. The fair value concept helps a company or auditor know the true worth of the assets and hence the depreciation and taxation can happen in a more transparent way. A project like this will fetch more goodwill and high returns in the long run.

 

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