Discussion Forum

Imagine that you are a successful business executive for a toy company, ChoiceToys. You are tasked to market one of the two new toys for the upcoming holiday season based on an optimal decision strategy. As the data analyst, you will be responsible for providing the expected profit payoff and associated probabilities.

Part 1 (Due by Day 3)

In your initial post, using the scenario below, you will be acting as the data executive speaking to a data analyst. You will need to speak to the data analyst and get more information so you can develop a decision analysis. Given the information the data analyst has provided, what more data do you think you need to create a decision analysis?

Save your time - order a paper!

Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

Order Paper Now

Toy 1 is being introduced to the market for the first time by ChoiceToys with no market competition. ChoiceToys believes that competitors will not be able to bring a similar toy to the market for this upcoming holiday season. You are not sure how the toy will be received by the consumers and there is equal chance that it will be highly successful, successful, or not successful. You will need to determine what the expected profit payoff will be and provide this in your scenario.

Toy 2 has been in the market, is known to consumers, and is in demand; however, it has two other competitors in the marketplace. If marketed, ChoiceToys will be one of the three companies selling this toy in the market in the upcoming holiday season. You will have to determine the profit payoff for Toy 2 respectively for a highly successful, successful, and not successful case. You will also need to determine the probability that Toy 2 will be highly successful in the market and equal chances for being successful or not successful in the market.

Part 2 (Due by Day 6)

As a data analyst, you need to use decision analysis techniques to recommend decision alternatives or optimal decisions based on expected profit payoff for the upcoming holiday season. Respond to one of your peers’ initial posts, and complete the following:

  • Identify the sequence of actions you need to take to start this decision process.
  • Explain each sequence and justify why it will help you with your decision.
  • Propose a risk profile for each choice.

Guided Response: Your initial response should be a minimum of 300 words in length. Respond to at least two peers by Day 7. In your first response, critique one of your peers’ Part 1 scenarios. In your second response, critique a student’s Part 2 reply to the scenario that has not been critiqued by others, for each of the following:

  • Missing or out of place sequences of actions. Justify your assessment.
  • Determination of essential decisions and uncertainties. Justify your reasons.
  • Determination of risk profile for each choice. Explain your assessment.

Discussion Forum

Module 2 Discussion Forum

Include at least 250 words in your posting and at least 250 words in your reply.  Indicate at least one source or reference in your original post. Please see syllabus for details on submission requirements.

Module 2 Discussion Question

Search “scholar.google.com” for a company or school that has defined the role of end-users in the creation of a contingency plan. Discuss why it is (or is not) important to include end users in the process of creating the contingency plan? What are the possible pitfalls of end user inclusion?

Save your time - order a paper!

Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

Order Paper Now

Reply -1 (Praneeth)

 

Chevron infrastructure is one of the largest energy companies who uses seismic imagine technologies in their corporation which helps them to improve the efficiency of the process and give best outcomes. Since, risks and uncertainties are the part of the recent days business world this organization take all the security mechanism which helps them to protect the business networks. They implemented the contingency plan for the organization, which helps them to continue the business operations as long as possible to face the business risks and uncertainties.

End users plays a crucial role in the contingency plan, end users involved in the development of contingency plans and design the best security mechanisms to control the effects of the uncertainties and risk. End user is the person responsible for taking care of the entire contingency plan and design the effective system to meet the business objectives. They use all the strategic and business plans to target the key areas of the organization. Contingency plan is the best course of action that organization prefer so that they can quickly respond to the business emergencies and unplanned events like disasters.

Along with the several advantages of involving end users in contingency plan, have couple of pitfalls and other issues. End users designed tools and applications for the contingency plans, often they failed to respond during the disasters and unplanned business events. On the other hands contingency plan sometimes referred as the ultimate options for the organization and keep it as plan B. In such cases, end users show less interest to the business call and that effects directly to the end objective of the business. End users show less organizational responsibility in the contingency plan for maintaining the complete program. Security and other control may not be adequate and faces issues to safeguard the networks of the business during the unplanned business events.

References:

Fallara, P. Disaster Recovery Planning. IEEE Potentials (Volume: 23, Issue: 5, Dec. 2003-Jan.  2004). DOI: 10.1109/MP.2004. 1301248.

Meshal, A. (2016). Disaster Recovery and Business Continuity. International Journal of Scientific and Engineering research, Volume 7, Issue 3, March 2016.

Philips, B. (2005). Disaster as a Discipline: The Status of Emergency Management Education in  the US. International Journal of Mass-Emergencies and Disaster, 111-140.

Reply-2(Ravikanth)

 

Organizational readiness for change is a multi-level construct. Readiness can be more or less present at the individual, group, unit, department, or organizational level. Readiness can be theorized, assessed, and studied at any of these levels of analysis. However, organizational readiness for change is not a homologous multi-level construct. That is, the construct’s meaning, measurement, and relationships with other variables differ across levels of analysis. Below, I focus on organizational readiness for change as a supra-individual state of affairs and theorize about its organizational determinants and organizational outcomes.

Organizational readiness for change is not only a multi-level construct, but a multi-faceted one. Specifically, organizational readiness refers to organizational members’ change commitment and change efficacy to implement organizational change. This definition followed the ordinary language use of the term ‘readiness,’ which connotes a state of being both psychologically and behaviorally prepared to take action (i.e., willing and able). Similar to Bandura’s  notion of goal commitment, change commitment to change refers to organizational members’ shared resolve to pursue the courses of action involved in change implementation. I emphasize shared resolve because implementing complex organizational changes involves collective action by many people, each of whom contributes something to the implementation effort. Because implementation is often a ‘team sport,’ problems arise when some feel committed to implementation but others do not. Herscovitch and Meyer observe that organizational members can commit to implementing an organizational change because they want to (they value the change), because they have to (they have little choice), or because they ought to (they feel obliged). Commitment based on ‘want to’ motives reflects the highest level of commitment to implement organizational change.

Reference:

  1. Amatayakul M. EHR? Assess readiness first. Healthc Financ Manage. 2005;
  2. Armenakis AA, Harris SG, Mossholder KW. Creating readiness for organizational change. Human Relations. 1993;46:681–703. doi: 10.1177/001872679304600601