Tag: Management

  • [Solved] HRM 6301 VIII J

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    – ## HumanManagementResourceMethodsHRM6301UnitVIIIJournal.docx – ## UnitVIIIStudyGuide.pdf **## HumanManagementResourceMethodsHRM6301UnitVIIIJournal.docx** 2 Human Resources Management Methods HRM 6301 **Unit VIII Journal** Explain the advice you would give to an executive team on how they can advan…

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    – ## HumanManagementResourceMethodsHRM6301UnitVIIIJournal.docx

    – ## UnitVIIIStudyGuide.pdf

    **## HumanManagementResourceMethodsHRM6301UnitVIIIJournal.docx**

    2

    Human Resources Management Methods HRM 6301

    **Unit VIII Journal**

    Explain the advice you would give to an executive team on how they can advance employee motivation and improve employee engagement to prevent or minimize unionization. Be sure to consider leadership theories that could advance employee motivation and the role of culture in human resource management practices within a global organization. Reflect on the course and thoroughly explain your rationale.

    Your journal should be at least 200 words in length. Outside sources are not a requirement.

    **## UnitVIIIStudyGuide.pdf**

    HRM 6301, Human Resource Management Methods 1

    Course Learning Outcomes for Unit VIII

    Upon completion of this unit, students should be able to:

    3. Assess the role of culture in human resource management practices within a global organization.
    3.1 Determine how culture impacts human resource management in a global organization.
    3.2 Determine the impact of employee rights and laws in potential expansion countries.
    3.3 Compare and contrast foreign cultures to determine the best fit for global expansion.

    Required Unit Resources

    In order to access the following resources, click the links below.

    The videos, articles, and webpage below provide insight on the role and impact of culture on human resource
    management in a global organization. The also examine how foreign employee rights and employment laws
    must be considered when expanding globally. These resources will assist you in the completion of this unit’s
    assignment.

    In the following video, a transcript and closed captioning are available once you access the video.

    Gregg Learning. (2018, October 19). HR basics: Organizational culture [Video]. Cielo24.

    https://c24.page/k2rcytcyd4zas3dj9vgmq593c

    Read the following articles.

    Caligiuri, P. M., & Stroh, L. K. (1995, September). Multinational corporation management strategies and

    international human resource practices: Bringing IHRM to the bottom line. The International Journal of
    Human Resource Management, 6(3), 494–507.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=5835623&site=ehost-live&scope=site

    Hofstede, G. (1980, Summer). Motivation, leadership, and organization: Do American theories apply abroad?

    Organizational Dynamics, 9(1), 42–63.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=5143098&site=ehost-live&scope=site

    U.S. Equal Employment Opportunity Commission. (2003, April 23). Employee rights when working for

    multinational employers (Control No. EEOC-NVTA-2003-2).
    https://www.eeoc.gov/laws/guidance/employee-rights-when-working-multinational-employers

    UNIT VIII STUDY GUIDE
    Going Global

    HRM 6301, Human Resource Management Methods 2

    UNIT x STUDY GUIDE
    Title

    Unit Lesson

    You are excited about the new opportunity because you realize it would be highly beneficial to gain
    international experience. As a result, you start to do more research. While this move can benefit you
    professionally and open more doors for you in the future, globalization can also be great for the organization.
    Kelly (2019) agrees, and she states that having staff with international experience will improve and speed up
    the process for an organization that would like to focus on global expansion. While you have vacationed
    internationally and experienced other cultures, you never really thought about the cultures of other countries
    from a business and leadership perspective.

    Regardless of how good a globalization strategy is, the culture of the new location will have an impact on an
    organization’s success or failure. You read the article, “Understanding and Developing Organizational
    Culture” (Society for Human Resource Management, 2018), and you discovered that there is not one single
    definition of culture. You realize that you have a good understanding of culture and globalization but decide
    that you need to do some additional research as you embark on this journey.

    Globalization

    Globalization in the marketplace has been increasing rapidly for at least the last 20 years. Many organizations
    are expanding operations into a global market. There are many pros and cons about the impact of
    globalization, and it is critical that the process is conducted carefully and that due diligence is performed in
    identifying all potential factors, impacts, and requirements. Supporters of globalization indicate that this
    promotes economic growth, allows for more competition, and lowers prices of products for consumers. If your
    car came with a detailed list of where each individual part came from, you would see that they are made in
    several countries.

    There are those who do not support globalization because they believe it results in job losses in the home
    country. There is also concern regarding differences in international laws, taxes, labor wages, and minimum
    ages. By focusing on culture from a leadership perspective, you must take into account how all of these
    factors can impact your current organization, its employees, your stakeholders, and even your community.

    Cultural Frameworks

    There are many different cultural frameworks. Ng et al. (2007) evaluated the cultural differences between
    Hofstede’s framework and Schwartz’s framework. The frameworks help one to understand national culture
    and its relationship to an organization’s culture. Both Hofstede and Schwartz discovered that there were
    greater cultural differences between countries than within the countries. Hofstede views culture as a system
    of values and norms shared by people. Hofstede’s focus is data driven where countries are given numerical
    scores based on how culture relates to values in the workplace. As such, either framework can be used for an
    analysis of the different countries. Review the differences in their frameworks below.

    HRM 6301, Human Resource Management Methods 3

    UNIT x STUDY GUIDE
    Title

    Hofstede’s Framework and Schwartz’s Framework

    Cultural Impact on Global HR Practices

    By using one of the cultural frameworks (or even a combination of both), you can make sense of cultural
    influences. Before expanding operations, Nagele-Piazza (2017) suggests that organizations should first
    identify a key individual who will direct and control employees for international projects. The leadership should
    decide on a strategy about hiring local nationals, which are employees hired for jobs in their own country.
    Third, it is important to understand the local employment laws. Additionally, privacy laws should be reviewed.
    You cannot assume that employment, labor, and privacy laws are the same or even similar to those in the
    United States or your state. Some of the differences might surprise you.

    Hofstede's framework (Hofstede, n.d.)

    Schwartz's framework (Ng et al., 2007)

    HRM 6301, Human Resource Management Methods 4

    UNIT x STUDY GUIDE
    Title

    As the leader of this initiative, you now understand the impact that culture will have on decisions that are
    made regarding workplace planning, recruiting, staffing, training, compensation, performance evaluations,
    and employee morale. You also know that instead of using just a cultural framework, you can provide an
    analysis of the different countries by doing research about the country in order to determine the scope of the
    impacts its culture may have on your organization and its globalization efforts. To do so, the following are
    some of the questions that you need to ask.

    • What are the working generations in the population?
    • What is the overall size of the workforce?
    • Will the organization be located in an urban or rural area?
    • What is the national language?
    • What is the political system?
    • What is the economic system?
    • What is the legal system?
    • What type of educational system do they have?
    • What type of healthcare system do they have?
    • Are there unions?
    • What is the average salary?
    • What type of infrastructure is there?
    • Are there any technological restrictions?

    Once the organization decides where to expand its global operations, organization culture should then be
    reviewed.

    Organizational Culture

    Organizational culture includes the beliefs, attitudes, behaviors, artifacts, ceremonies, stories, rituals, values,
    and assumptions of the organizational members. You know that culture impacts the HR management
    function. Years ago, back in your first job, the focus was the bottom line; you did whatever needed to be done
    to reach financial goals. Employees were expected to work until late evening; they often worked on holidays,
    and employees were not appreciated. Teamwork was not encouraged, and as such, employees were not nice
    to each other. In your second job, you had the opportunity to work in Germany. You discovered that you were
    not permitted to work more than 8 hours a day (and definitely not on Sunday) as you were not in the service
    industry. There is a connectedness between a country’s culture and organizational culture. For example, let’s
    say that you want to show your appreciation for employees in the expansion location with a paid company
    lunch. Gartman et al. (2018) reminds us that culture is something that may impact something as simple as a
    company lunch. In Germany, you may serve hamburgers, but in India, you would not out of respect for the
    likely greater incidence of employees who may not eat meat or that particular kind of meat. You understand
    the complexity of globalization and have now started thinking about recruiting and selecting employees.

    Recruiting and Selecting Employees

    One of the first things you are asked to do is recruit and hire employees. It would be unrealistic to assume
    that all employees will come from your organization located in the United States. You decide to evaluate
    different staffing strategies. Caligiuri and Stroh (1995) did a study evaluating international HR staffing
    approaches. In their study, they found that the ethnocentric staffing policy was less effective than the
    polycentric, regiocentric, and the geocentric staffing approaches.

    If your organization used an ethnocentric staffing approach, all of the key positions would be filled by home
    country or parent-country nationals. Parent-country nationals are individuals working in another country other
    than their country of origin. A polycentric approach is where the host-country employees manage the
    organization located in their country. If you employ a regiocentric strategy, both the host-country nationals and
    third-country nationals (those who are not from the home or host country) are selected for key positions. In
    other words, those selected are from the region. With a geocentric approach, you select the best person for
    the job regardless of where they are from. This approach can be tricky, especially if there are local laws or
    agreements in the legal language of the expansion that require a minimum number of locals to be hired.

    HRM 6301, Human Resource Management Methods 5

    UNIT x STUDY GUIDE
    Title

    Additionally, hiring all or a majority of non-host-country employees could create tension in the local community
    and be seen as insulting their culture.

    Once you have decided on the staffing approach that you will employ, you need to focus on determining how
    you will compensate and train new employees. This, of course, will differ depending on whether they are from
    the home country, the host country or a third country. You, therefore, need to be aware of all laws that might
    affect this process.

    Employee Rights and Laws

    According to the U.S. Equal Employment Opportunity Commission (EEOC, 2003), employees working in the
    United States or its territories are protected by EEO laws. If employees are working for an organization that
    is incorporated with, based in, or has sufficient connections with the United States, they are protected by
    EEO laws.

    However, as a U.S. employer with operations in another country, it is important to know the local laws as they
    may supersede requirements of Title VII of the Civil Rights Act, the Age Discrimination in Employment Act,
    and the Americans with Disabilities Act. Many other laws also must be considered from an HR perspective.
    For example, Dowling (2019) discussed the differences in data collection laws. In European Union countries,
    internal emails cannot be used for an investigation that may get someone fired. If the term personal is in the
    subject line, an employer may not read the employee’s email. In France, internal emails cannot be accessed
    unless there is approval by the court where a court officer will oversee the review. In Alberta, Canada, an
    employee must agree that the employer can read their emails. Brin (2019) shared that in France, employers
    with a least 50 workers must negotiate with unions and allow workers to disconnect from work technology
    after work hours. This is considered important to worker safety and health. In Spain, there is a similar new law
    affording remote workers the right to disconnect. According to the new law, there should also be training to
    avoid computer fatigue. However, it should be noted that there are no penalties if the law is not followed in
    both countries.

    Conclusion

    After doing an evaluation of employee rights and laws, you realize that the decision to globalize and the
    process it entails is incredibly complex. Evaluating the culture of the country, the organizational culture, and
    the impact on HR practices is critical. However, after doing your research, you are confident that you will be
    able to help leadership make the important decisions regarding globalization through proper evaluation and
    assessment of the options. You will demonstrate this in this unit’s assignment.

    References

    Brin, D. W. (2019, May 20). France and Spain: Right to disconnect spreads. Society for Human Resource

    Management. https://www.shrm.org/resourcesandtools/legal-and-compliance/employment-
    law/pages/global-france-spain-right-to-disconnect.aspx

    Caligiuri, P. M., & Stroh, L. K. (1995, September). Multinational corporation management strategies and

    international human resource practices: Bringing IHRM to the bottom line. International Journal of
    Human Resource Management, 6(3), 494–507.
    https://libraryresources.columbiasouthern.edu/login?url=https://search.ebscohost.com/login.aspx?dire
    ct=true&db=bsu&AN=5835623&site=ehost-live&scope=site

    Dowling, D. C., Jr. (2019, August 7). How to gather documents overseas in a global investigation. Society for

    Human Resource Management. https://www.shrm.org/ResourcesAndTools/legal-and-
    compliance/employment-law/Pages/global-investigations-gathering-documents.aspx

    HRM 6301, Human Resource Management Methods 6

    UNIT x STUDY GUIDE
    Title

    Gartman, C., Woods, W., & Morey, R. (2018, April). Culture eats strategy for breakfast: Franchise compliance
    programs can have many benefits. Reap the rewards of a culture of compliance. Franchising World,
    50(4), 38–39.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=edsbig&AN=edsbig.A537410949&site=eds-live&scope=site

    Hofstede, G. (n.d.). The 6-D model of national culture. Geert Hofstede. https://geerthofstede.com/culture-

    geert-hofstede-gert-jan-hofstede/6d-model-of-national-culture/

    Kelly, N. (2019, July 5). 5 ways to foster a global mindset in your company. Harvard Business Review.

    https://hbr.org/2019/07/5-ways-to-foster-a-global-mindset-in-your-company

    Nagele-Piazza, L. (2017, June 20). 4 HR points to consider when going global. Society for Human Resource

    Management. https://www.shrm.org/hr-today/news/hr-news/conference-today/pages/2017/4-hr-
    points-to-consider-when-going-global.aspx

    Ng, S. I., Lee, J. A., & Soutar, G. N. (2007). Are Hofstede’s and Schwartz’s value framework congruent?

    International Marketing Review, 24(2), 164–180. https://search-proquest-
    com.libraryresources.columbiasouthern.edu/docview/224316744?accountid=33337

    Society for Human Resource Management. (2018, August 13). Understanding and developing organizational

    culture. https://www.shrm.org/resourcesandtools/tools-and-
    samples/toolkits/pages/understandinganddevelopingorganizationalculture.aspx

    U.S. Equal Employment Opportunity Commission. (2003, April 23). Employee rights when working for

    multinational employers (Control No. EEOC-NVTA-2003-2). https://www.eeoc.gov/facts/multi-
    employees.html

    Suggested Unit Resources

    In order to access the following resources, click the links below.

    The following resources provide a framework for better understanding the concepts presented in this unit.

    Farndale, E., Paauwe, J., Morris, S. S., Stahl, G. K., Stiles, P., Trevor, J., & Wright, P. M. (2010). Context-

    bound configurations of corporate HR functions in multinational corporations. Human Resource
    Management, 49(1), 45–66.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=47805875&site=ehost-live&scope=site

    Ng, S. I., Lee, J. A., & Soutar, G. N. (2007). Are Hofstede’s and Schwartz’s value framework congruent?

    International Marketing Review, 24(2), 164–180. https://search-proquest-
    com.libraryresources.columbiasouthern.edu/docview/224316744?accountid=33337

    **## UnitVIIIStudyGuide.pdf**

    HRM 6301, Human Resource Management Methods 1

    Course Learning Outcomes for Unit VIII

    Upon completion of this unit, students should be able to:

    3. Assess the role of culture in human resource management practices within a global organization.
    3.1 Determine how culture impacts human resource management in a global organization.
    3.2 Determine the impact of employee rights and laws in potential expansion countries.
    3.3 Compare and contrast foreign cultures to determine the best fit for global expansion.

    Required Unit Resources

    In order to access the following resources, click the links below.

    The videos, articles, and webpage below provide insight on the role and impact of culture on human resource
    management in a global organization. The also examine how foreign employee rights and employment laws
    must be considered when expanding globally. These resources will assist you in the completion of this unit’s
    assignment.

    In the following video, a transcript and closed captioning are available once you access the video.

    Gregg Learning. (2018, October 19). HR basics: Organizational culture [Video]. Cielo24.

    https://c24.page/k2rcytcyd4zas3dj9vgmq593c

    Read the following articles.

    Caligiuri, P. M., & Stroh, L. K. (1995, September). Multinational corporation management strategies and

    international human resource practices: Bringing IHRM to the bottom line. The International Journal of
    Human Resource Management, 6(3), 494–507.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=5835623&site=ehost-live&scope=site

    Hofstede, G. (1980, Summer). Motivation, leadership, and organization: Do American theories apply abroad?

    Organizational Dynamics, 9(1), 42–63.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=5143098&site=ehost-live&scope=site

    U.S. Equal Employment Opportunity Commission. (2003, April 23). Employee rights when working for

    multinational employers (Control No. EEOC-NVTA-2003-2).
    https://www.eeoc.gov/laws/guidance/employee-rights-when-working-multinational-employers

    UNIT VIII STUDY GUIDE
    Going Global

    HRM 6301, Human Resource Management Methods 2

    UNIT x STUDY GUIDE
    Title

    Unit Lesson

    You are excited about the new opportunity because you realize it would be highly beneficial to gain
    international experience. As a result, you start to do more research. While this move can benefit you
    professionally and open more doors for you in the future, globalization can also be great for the organization.
    Kelly (2019) agrees, and she states that having staff with international experience will improve and speed up
    the process for an organization that would like to focus on global expansion. While you have vacationed
    internationally and experienced other cultures, you never really thought about the cultures of other countries
    from a business and leadership perspective.

    Regardless of how good a globalization strategy is, the culture of the new location will have an impact on an
    organization’s success or failure. You read the article, “Understanding and Developing Organizational
    Culture” (Society for Human Resource Management, 2018), and you discovered that there is not one single
    definition of culture. You realize that you have a good understanding of culture and globalization but decide
    that you need to do some additional research as you embark on this journey.

    Globalization

    Globalization in the marketplace has been increasing rapidly for at least the last 20 years. Many organizations
    are expanding operations into a global market. There are many pros and cons about the impact of
    globalization, and it is critical that the process is conducted carefully and that due diligence is performed in
    identifying all potential factors, impacts, and requirements. Supporters of globalization indicate that this
    promotes economic growth, allows for more competition, and lowers prices of products for consumers. If your
    car came with a detailed list of where each individual part came from, you would see that they are made in
    several countries.

    There are those who do not support globalization because they believe it results in job losses in the home
    country. There is also concern regarding differences in international laws, taxes, labor wages, and minimum
    ages. By focusing on culture from a leadership perspective, you must take into account how all of these
    factors can impact your current organization, its employees, your stakeholders, and even your community.

    Cultural Frameworks

    There are many different cultural frameworks. Ng et al. (2007) evaluated the cultural differences between
    Hofstede’s framework and Schwartz’s framework. The frameworks help one to understand national culture
    and its relationship to an organization’s culture. Both Hofstede and Schwartz discovered that there were
    greater cultural differences between countries than within the countries. Hofstede views culture as a system
    of values and norms shared by people. Hofstede’s focus is data driven where countries are given numerical
    scores based on how culture relates to values in the workplace. As such, either framework can be used for an
    analysis of the different countries. Review the differences in their frameworks below.

    HRM 6301, Human Resource Management Methods 3

    UNIT x STUDY GUIDE
    Title

    Hofstede’s Framework and Schwartz’s Framework

    Cultural Impact on Global HR Practices

    By using one of the cultural frameworks (or even a combination of both), you can make sense of cultural
    influences. Before expanding operations, Nagele-Piazza (2017) suggests that organizations should first
    identify a key individual who will direct and control employees for international projects. The leadership should
    decide on a strategy about hiring local nationals, which are employees hired for jobs in their own country.
    Third, it is important to understand the local employment laws. Additionally, privacy laws should be reviewed.
    You cannot assume that employment, labor, and privacy laws are the same or even similar to those in the
    United States or your state. Some of the differences might surprise you.

    Hofstede's framework (Hofstede, n.d.)

    Schwartz's framework (Ng et al., 2007)

    HRM 6301, Human Resource Management Methods 4

    UNIT x STUDY GUIDE
    Title

    As the leader of this initiative, you now understand the impact that culture will have on decisions that are
    made regarding workplace planning, recruiting, staffing, training, compensation, performance evaluations,
    and employee morale. You also know that instead of using just a cultural framework, you can provide an
    analysis of the different countries by doing research about the country in order to determine the scope of the
    impacts its culture may have on your organization and its globalization efforts. To do so, the following are
    some of the questions that you need to ask.

    • What are the working generations in the population?
    • What is the overall size of the workforce?
    • Will the organization be located in an urban or rural area?
    • What is the national language?
    • What is the political system?
    • What is the economic system?
    • What is the legal system?
    • What type of educational system do they have?
    • What type of healthcare system do they have?
    • Are there unions?
    • What is the average salary?
    • What type of infrastructure is there?
    • Are there any technological restrictions?

    Once the organization decides where to expand its global operations, organization culture should then be
    reviewed.

    Organizational Culture

    Organizational culture includes the beliefs, attitudes, behaviors, artifacts, ceremonies, stories, rituals, values,
    and assumptions of the organizational members. You know that culture impacts the HR management
    function. Years ago, back in your first job, the focus was the bottom line; you did whatever needed to be done
    to reach financial goals. Employees were expected to work until late evening; they often worked on holidays,
    and employees were not appreciated. Teamwork was not encouraged, and as such, employees were not nice
    to each other. In your second job, you had the opportunity to work in Germany. You discovered that you were
    not permitted to work more than 8 hours a day (and definitely not on Sunday) as you were not in the service
    industry. There is a connectedness between a country’s culture and organizational culture. For example, let’s
    say that you want to show your appreciation for employees in the expansion location with a paid company
    lunch. Gartman et al. (2018) reminds us that culture is something that may impact something as simple as a
    company lunch. In Germany, you may serve hamburgers, but in India, you would not out of respect for the
    likely greater incidence of employees who may not eat meat or that particular kind of meat. You understand
    the complexity of globalization and have now started thinking about recruiting and selecting employees.

    Recruiting and Selecting Employees

    One of the first things you are asked to do is recruit and hire employees. It would be unrealistic to assume
    that all employees will come from your organization located in the United States. You decide to evaluate
    different staffing strategies. Caligiuri and Stroh (1995) did a study evaluating international HR staffing
    approaches. In their study, they found that the ethnocentric staffing policy was less effective than the
    polycentric, regiocentric, and the geocentric staffing approaches.

    If your organization used an ethnocentric staffing approach, all of the key positions would be filled by home
    country or parent-country nationals. Parent-country nationals are individuals working in another country other
    than their country of origin. A polycentric approach is where the host-country employees manage the
    organization located in their country. If you employ a regiocentric strategy, both the host-country nationals and
    third-country nationals (those who are not from the home or host country) are selected for key positions. In
    other words, those selected are from the region. With a geocentric approach, you select the best person for
    the job regardless of where they are from. This approach can be tricky, especially if there are local laws or
    agreements in the legal language of the expansion that require a minimum number of locals to be hired.

    HRM 6301, Human Resource Management Methods 5

    UNIT x STUDY GUIDE
    Title

    Additionally, hiring all or a majority of non-host-country employees could create tension in the local community
    and be seen as insulting their culture.

    Once you have decided on the staffing approach that you will employ, you need to focus on determining how
    you will compensate and train new employees. This, of course, will differ depending on whether they are from
    the home country, the host country or a third country. You, therefore, need to be aware of all laws that might
    affect this process.

    Employee Rights and Laws

    According to the U.S. Equal Employment Opportunity Commission (EEOC, 2003), employees working in the
    United States or its territories are protected by EEO laws. If employees are working for an organization that
    is incorporated with, based in, or has sufficient connections with the United States, they are protected by
    EEO laws.

    However, as a U.S. employer with operations in another country, it is important to know the local laws as they
    may supersede requirements of Title VII of the Civil Rights Act, the Age Discrimination in Employment Act,
    and the Americans with Disabilities Act. Many other laws also must be considered from an HR perspective.
    For example, Dowling (2019) discussed the differences in data collection laws. In European Union countries,
    internal emails cannot be used for an investigation that may get someone fired. If the term personal is in the
    subject line, an employer may not read the employee’s email. In France, internal emails cannot be accessed
    unless there is approval by the court where a court officer will oversee the review. In Alberta, Canada, an
    employee must agree that the employer can read their emails. Brin (2019) shared that in France, employers
    with a least 50 workers must negotiate with unions and allow workers to disconnect from work technology
    after work hours. This is considered important to worker safety and health. In Spain, there is a similar new law
    affording remote workers the right to disconnect. According to the new law, there should also be training to
    avoid computer fatigue. However, it should be noted that there are no penalties if the law is not followed in
    both countries.

    Conclusion

    After doing an evaluation of employee rights and laws, you realize that the decision to globalize and the
    process it entails is incredibly complex. Evaluating the culture of the country, the organizational culture, and
    the impact on HR practices is critical. However, after doing your research, you are confident that you will be
    able to help leadership make the important decisions regarding globalization through proper evaluation and
    assessment of the options. You will demonstrate this in this unit’s assignment.

    References

    Brin, D. W. (2019, May 20). France and Spain: Right to disconnect spreads. Society for Human Resource

    Management. https://www.shrm.org/resourcesandtools/legal-and-compliance/employment-
    law/pages/global-france-spain-right-to-disconnect.aspx

    Caligiuri, P. M., & Stroh, L. K. (1995, September). Multinational corporation management strategies and

    international human resource practices: Bringing IHRM to the bottom line. International Journal of
    Human Resource Management, 6(3), 494–507.
    https://libraryresources.columbiasouthern.edu/login?url=https://search.ebscohost.com/login.aspx?dire
    ct=true&db=bsu&AN=5835623&site=ehost-live&scope=site

    Dowling, D. C., Jr. (2019, August 7). How to gather documents overseas in a global investigation. Society for

    Human Resource Management. https://www.shrm.org/ResourcesAndTools/legal-and-
    compliance/employment-law/Pages/global-investigations-gathering-documents.aspx

    HRM 6301, Human Resource Management Methods 6

    UNIT x STUDY GUIDE
    Title

    Gartman, C., Woods, W., & Morey, R. (2018, April). Culture eats strategy for breakfast: Franchise compliance
    programs can have many benefits. Reap the rewards of a culture of compliance. Franchising World,
    50(4), 38–39.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=edsbig&AN=edsbig.A537410949&site=eds-live&scope=site

    Hofstede, G. (n.d.). The 6-D model of national culture. Geert Hofstede. https://geerthofstede.com/culture-

    geert-hofstede-gert-jan-hofstede/6d-model-of-national-culture/

    Kelly, N. (2019, July 5). 5 ways to foster a global mindset in your company. Harvard Business Review.

    https://hbr.org/2019/07/5-ways-to-foster-a-global-mindset-in-your-company

    Nagele-Piazza, L. (2017, June 20). 4 HR points to consider when going global. Society for Human Resource

    Management. https://www.shrm.org/hr-today/news/hr-news/conference-today/pages/2017/4-hr-
    points-to-consider-when-going-global.aspx

    Ng, S. I., Lee, J. A., & Soutar, G. N. (2007). Are Hofstede’s and Schwartz’s value framework congruent?

    International Marketing Review, 24(2), 164–180. https://search-proquest-
    com.libraryresources.columbiasouthern.edu/docview/224316744?accountid=33337

    Society for Human Resource Management. (2018, August 13). Understanding and developing organizational

    culture. https://www.shrm.org/resourcesandtools/tools-and-
    samples/toolkits/pages/understandinganddevelopingorganizationalculture.aspx

    U.S. Equal Employment Opportunity Commission. (2003, April 23). Employee rights when working for

    multinational employers (Control No. EEOC-NVTA-2003-2). https://www.eeoc.gov/facts/multi-
    employees.html

    Suggested Unit Resources

    In order to access the following resources, click the links below.

    The following resources provide a framework for better understanding the concepts presented in this unit.

    Farndale, E., Paauwe, J., Morris, S. S., Stahl, G. K., Stiles, P., Trevor, J., & Wright, P. M. (2010). Context-

    bound configurations of corporate HR functions in multinational corporations. Human Resource
    Management, 49(1), 45–66.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=47805875&site=ehost-live&scope=site

    Ng, S. I., Lee, J. A., & Soutar, G. N. (2007). Are Hofstede’s and Schwartz’s value framework congruent?

    International Marketing Review, 24(2), 164–180. https://search-proquest-
    com.libraryresources.columbiasouthern.edu/docview/224316744?accountid=33337

    **## HumanManagementResourceMethodsHRM6301UnitVIIIJournal.docx**

    2

    Human Resources Management Methods HRM 6301

    **Unit VIII Journal**

    Explain the advice you would give to an executive team on how they can advance employee motivation and improve employee engagement to prevent or minimize unionization. Be sure to consider leadership theories that could advance employee motivation and the role of culture in human resource management practices within a global organization. Reflect on the course and thoroughly explain your rationale.

    Your journal should be at least 200 words in length. Outside sources are not a requirement.

    **## UnitVIIIStudyGuide.pdf**

    HRM 6301, Human Resource Management Methods 1

    Course Learning Outcomes for Unit VIII

    Upon completion of this unit, students should be able to:

    3. Assess the role of culture in human resource management practices within a global organization.
    3.1 Determine how culture impacts human resource management in a global organization.
    3.2 Determine the impact of employee rights and laws in potential expansion countries.
    3.3 Compare and contrast foreign cultures to determine the best fit for global expansion.

    Required Unit Resources

    In order to access the following resources, click the links below.

    The videos, articles, and webpage below provide insight on the role and impact of culture on human resource
    management in a global organization. The also examine how foreign employee rights and employment laws
    must be considered when expanding globally. These resources will assist you in the completion of this unit’s
    assignment.

    In the following video, a transcript and closed captioning are available once you access the video.

    Gregg Learning. (2018, October 19). HR basics: Organizational culture [Video]. Cielo24.

    https://c24.page/k2rcytcyd4zas3dj9vgmq593c

    Read the following articles.

    Caligiuri, P. M., & Stroh, L. K. (1995, September). Multinational corporation management strategies and

    international human resource practices: Bringing IHRM to the bottom line. The International Journal of
    Human Resource Management, 6(3), 494–507.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=5835623&site=ehost-live&scope=site

    Hofstede, G. (1980, Summer). Motivation, leadership, and organization: Do American theories apply abroad?

    Organizational Dynamics, 9(1), 42–63.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=5143098&site=ehost-live&scope=site

    U.S. Equal Employment Opportunity Commission. (2003, April 23). Employee rights when working for

    multinational employers (Control No. EEOC-NVTA-2003-2).
    https://www.eeoc.gov/laws/guidance/employee-rights-when-working-multinational-employers

    UNIT VIII STUDY GUIDE
    Going Global

    HRM 6301, Human Resource Management Methods 2

    UNIT x STUDY GUIDE
    Title

    Unit Lesson

    You are excited about the new opportunity because you realize it would be highly beneficial to gain
    international experience. As a result, you start to do more research. While this move can benefit you
    professionally and open more doors for you in the future, globalization can also be great for the organization.
    Kelly (2019) agrees, and she states that having staff with international experience will improve and speed up
    the process for an organization that would like to focus on global expansion. While you have vacationed
    internationally and experienced other cultures, you never really thought about the cultures of other countries
    from a business and leadership perspective.

    Regardless of how good a globalization strategy is, the culture of the new location will have an impact on an
    organization’s success or failure. You read the article, “Understanding and Developing Organizational
    Culture” (Society for Human Resource Management, 2018), and you discovered that there is not one single
    definition of culture. You realize that you have a good understanding of culture and globalization but decide
    that you need to do some additional research as you embark on this journey.

    Globalization

    Globalization in the marketplace has been increasing rapidly for at least the last 20 years. Many organizations
    are expanding operations into a global market. There are many pros and cons about the impact of
    globalization, and it is critical that the process is conducted carefully and that due diligence is performed in
    identifying all potential factors, impacts, and requirements. Supporters of globalization indicate that this
    promotes economic growth, allows for more competition, and lowers prices of products for consumers. If your
    car came with a detailed list of where each individual part came from, you would see that they are made in
    several countries.

    There are those who do not support globalization because they believe it results in job losses in the home
    country. There is also concern regarding differences in international laws, taxes, labor wages, and minimum
    ages. By focusing on culture from a leadership perspective, you must take into account how all of these
    factors can impact your current organization, its employees, your stakeholders, and even your community.

    Cultural Frameworks

    There are many different cultural frameworks. Ng et al. (2007) evaluated the cultural differences between
    Hofstede’s framework and Schwartz’s framework. The frameworks help one to understand national culture
    and its relationship to an organization’s culture. Both Hofstede and Schwartz discovered that there were
    greater cultural differences between countries than within the countries. Hofstede views culture as a system
    of values and norms shared by people. Hofstede’s focus is data driven where countries are given numerical
    scores based on how culture relates to values in the workplace. As such, either framework can be used for an
    analysis of the different countries. Review the differences in their frameworks below.

    HRM 6301, Human Resource Management Methods 3

    UNIT x STUDY GUIDE
    Title

    Hofstede’s Framework and Schwartz’s Framework

    Cultural Impact on Global HR Practices

    By using one of the cultural frameworks (or even a combination of both), you can make sense of cultural
    influences. Before expanding operations, Nagele-Piazza (2017) suggests that organizations should first
    identify a key individual who will direct and control employees for international projects. The leadership should
    decide on a strategy about hiring local nationals, which are employees hired for jobs in their own country.
    Third, it is important to understand the local employment laws. Additionally, privacy laws should be reviewed.
    You cannot assume that employment, labor, and privacy laws are the same or even similar to those in the
    United States or your state. Some of the differences might surprise you.

    Hofstede's framework (Hofstede, n.d.)

    Schwartz's framework (Ng et al., 2007)

    HRM 6301, Human Resource Management Methods 4

    UNIT x STUDY GUIDE
    Title

    As the leader of this initiative, you now understand the impact that culture will have on decisions that are
    made regarding workplace planning, recruiting, staffing, training, compensation, performance evaluations,
    and employee morale. You also know that instead of using just a cultural framework, you can provide an
    analysis of the different countries by doing research about the country in order to determine the scope of the
    impacts its culture may have on your organization and its globalization efforts. To do so, the following are
    some of the questions that you need to ask.

    • What are the working generations in the population?
    • What is the overall size of the workforce?
    • Will the organization be located in an urban or rural area?
    • What is the national language?
    • What is the political system?
    • What is the economic system?
    • What is the legal system?
    • What type of educational system do they have?
    • What type of healthcare system do they have?
    • Are there unions?
    • What is the average salary?
    • What type of infrastructure is there?
    • Are there any technological restrictions?

    Once the organization decides where to expand its global operations, organization culture should then be
    reviewed.

    Organizational Culture

    Organizational culture includes the beliefs, attitudes, behaviors, artifacts, ceremonies, stories, rituals, values,
    and assumptions of the organizational members. You know that culture impacts the HR management
    function. Years ago, back in your first job, the focus was the bottom line; you did whatever needed to be done
    to reach financial goals. Employees were expected to work until late evening; they often worked on holidays,
    and employees were not appreciated. Teamwork was not encouraged, and as such, employees were not nice
    to each other. In your second job, you had the opportunity to work in Germany. You discovered that you were
    not permitted to work more than 8 hours a day (and definitely not on Sunday) as you were not in the service
    industry. There is a connectedness between a country’s culture and organizational culture. For example, let’s
    say that you want to show your appreciation for employees in the expansion location with a paid company
    lunch. Gartman et al. (2018) reminds us that culture is something that may impact something as simple as a
    company lunch. In Germany, you may serve hamburgers, but in India, you would not out of respect for the
    likely greater incidence of employees who may not eat meat or that particular kind of meat. You understand
    the complexity of globalization and have now started thinking about recruiting and selecting employees.

    Recruiting and Selecting Employees

    One of the first things you are asked to do is recruit and hire employees. It would be unrealistic to assume
    that all employees will come from your organization located in the United States. You decide to evaluate
    different staffing strategies. Caligiuri and Stroh (1995) did a study evaluating international HR staffing
    approaches. In their study, they found that the ethnocentric staffing policy was less effective than the
    polycentric, regiocentric, and the geocentric staffing approaches.

    If your organization used an ethnocentric staffing approach, all of the key positions would be filled by home
    country or parent-country nationals. Parent-country nationals are individuals working in another country other
    than their country of origin. A polycentric approach is where the host-country employees manage the
    organization located in their country. If you employ a regiocentric strategy, both the host-country nationals and
    third-country nationals (those who are not from the home or host country) are selected for key positions. In
    other words, those selected are from the region. With a geocentric approach, you select the best person for
    the job regardless of where they are from. This approach can be tricky, especially if there are local laws or
    agreements in the legal language of the expansion that require a minimum number of locals to be hired.

    HRM 6301, Human Resource Management Methods 5

    UNIT x STUDY GUIDE
    Title

    Additionally, hiring all or a majority of non-host-country employees could create tension in the local community
    and be seen as insulting their culture.

    Once you have decided on the staffing approach that you will employ, you need to focus on determining how
    you will compensate and train new employees. This, of course, will differ depending on whether they are from
    the home country, the host country or a third country. You, therefore, need to be aware of all laws that might
    affect this process.

    Employee Rights and Laws

    According to the U.S. Equal Employment Opportunity Commission (EEOC, 2003), employees working in the
    United States or its territories are protected by EEO laws. If employees are working for an organization that
    is incorporated with, based in, or has sufficient connections with the United States, they are protected by
    EEO laws.

    However, as a U.S. employer with operations in another country, it is important to know the local laws as they
    may supersede requirements of Title VII of the Civil Rights Act, the Age Discrimination in Employment Act,
    and the Americans with Disabilities Act. Many other laws also must be considered from an HR perspective.
    For example, Dowling (2019) discussed the differences in data collection laws. In European Union countries,
    internal emails cannot be used for an investigation that may get someone fired. If the term personal is in the
    subject line, an employer may not read the employee’s email. In France, internal emails cannot be accessed
    unless there is approval by the court where a court officer will oversee the review. In Alberta, Canada, an
    employee must agree that the employer can read their emails. Brin (2019) shared that in France, employers
    with a least 50 workers must negotiate with unions and allow workers to disconnect from work technology
    after work hours. This is considered important to worker safety and health. In Spain, there is a similar new law
    affording remote workers the right to disconnect. According to the new law, there should also be training to
    avoid computer fatigue. However, it should be noted that there are no penalties if the law is not followed in
    both countries.

    Conclusion

    After doing an evaluation of employee rights and laws, you realize that the decision to globalize and the
    process it entails is incredibly complex. Evaluating the culture of the country, the organizational culture, and
    the impact on HR practices is critical. However, after doing your research, you are confident that you will be
    able to help leadership make the important decisions regarding globalization through proper evaluation and
    assessment of the options. You will demonstrate this in this unit’s assignment.

    References

    Brin, D. W. (2019, May 20). France and Spain: Right to disconnect spreads. Society for Human Resource

    Management. https://www.shrm.org/resourcesandtools/legal-and-compliance/employment-
    law/pages/global-france-spain-right-to-disconnect.aspx

    Caligiuri, P. M., & Stroh, L. K. (1995, September). Multinational corporation management strategies and

    international human resource practices: Bringing IHRM to the bottom line. International Journal of
    Human Resource Management, 6(3), 494–507.
    https://libraryresources.columbiasouthern.edu/login?url=https://search.ebscohost.com/login.aspx?dire
    ct=true&db=bsu&AN=5835623&site=ehost-live&scope=site

    Dowling, D. C., Jr. (2019, August 7). How to gather documents overseas in a global investigation. Society for

    Human Resource Management. https://www.shrm.org/ResourcesAndTools/legal-and-
    compliance/employment-law/Pages/global-investigations-gathering-documents.aspx

    HRM 6301, Human Resource Management Methods 6

    UNIT x STUDY GUIDE
    Title

    Gartman, C., Woods, W., & Morey, R. (2018, April). Culture eats strategy for breakfast: Franchise compliance
    programs can have many benefits. Reap the rewards of a culture of compliance. Franchising World,
    50(4), 38–39.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=edsbig&AN=edsbig.A537410949&site=eds-live&scope=site

    Hofstede, G. (n.d.). The 6-D model of national culture. Geert Hofstede. https://geerthofstede.com/culture-

    geert-hofstede-gert-jan-hofstede/6d-model-of-national-culture/

    Kelly, N. (2019, July 5). 5 ways to foster a global mindset in your company. Harvard Business Review.

    https://hbr.org/2019/07/5-ways-to-foster-a-global-mindset-in-your-company

    Nagele-Piazza, L. (2017, June 20). 4 HR points to consider when going global. Society for Human Resource

    Management. https://www.shrm.org/hr-today/news/hr-news/conference-today/pages/2017/4-hr-
    points-to-consider-when-going-global.aspx

    Ng, S. I., Lee, J. A., & Soutar, G. N. (2007). Are Hofstede’s and Schwartz’s value framework congruent?

    International Marketing Review, 24(2), 164–180. https://search-proquest-
    com.libraryresources.columbiasouthern.edu/docview/224316744?accountid=33337

    Society for Human Resource Management. (2018, August 13). Understanding and developing organizational

    culture. https://www.shrm.org/resourcesandtools/tools-and-
    samples/toolkits/pages/understandinganddevelopingorganizationalculture.aspx

    U.S. Equal Employment Opportunity Commission. (2003, April 23). Employee rights when working for

    multinational employers (Control No. EEOC-NVTA-2003-2). https://www.eeoc.gov/facts/multi-
    employees.html

    Suggested Unit Resources

    In order to access the following resources, click the links below.

    The following resources provide a framework for better understanding the concepts presented in this unit.

    Farndale, E., Paauwe, J., Morris, S. S., Stahl, G. K., Stiles, P., Trevor, J., & Wright, P. M. (2010). Context-

    bound configurations of corporate HR functions in multinational corporations. Human Resource
    Management, 49(1), 45–66.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=47805875&site=ehost-live&scope=site

    Ng, S. I., Lee, J. A., & Soutar, G. N. (2007). Are Hofstede’s and Schwartz’s value framework congruent?

    International Marketing Review, 24(2), 164–180. https://search-proquest-
    com.libraryresources.columbiasouthern.edu/docview/224316744?accountid=33337

    **## HumanManagementResourceMethodsHRM6301UnitVIIIJournal.docx**

    2

    Human Resources Management Methods HRM 6301

    **Unit VIII Journal**

    Explain the advice you would give to an executive team on how they can advance employee motivation and improve employee engagement to prevent or minimize unionization. Be sure to consider leadership theories that could advance employee motivation and the role of culture in human resource management practices within a global organization. Reflect on the course and thoroughly explain your rationale.

    Your journal should be at least 200 words in length. Outside sources are not a requirement.

    **## UnitVIIIStudyGuide.pdf**

    HRM 6301, Human Resource Management Methods 1

    Course Learning Outcomes for Unit VIII

    Upon completion of this unit, students should be able to:

    3. Assess the role of culture in human resource management practices within a global organization.
    3.1 Determine how culture impacts human resource management in a global organization.
    3.2 Determine the impact of employee rights and laws in potential expansion countries.
    3.3 Compare and contrast foreign cultures to determine the best fit for global expansion.

    Required Unit Resources

    In order to access the following resources, click the links below.

    The videos, articles, and webpage below provide insight on the role and impact of culture on human resource
    management in a global organization. The also examine how foreign employee rights and employment laws
    must be considered when expanding globally. These resources will assist you in the completion of this unit’s
    assignment.

    In the following video, a transcript and closed captioning are available once you access the video.

    Gregg Learning. (2018, October 19). HR basics: Organizational culture [Video]. Cielo24.

    https://c24.page/k2rcytcyd4zas3dj9vgmq593c

    Read the following articles.

    Caligiuri, P. M., & Stroh, L. K. (1995, September). Multinational corporation management strategies and

    international human resource practices: Bringing IHRM to the bottom line. The International Journal of
    Human Resource Management, 6(3), 494–507.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=5835623&site=ehost-live&scope=site

    Hofstede, G. (1980, Summer). Motivation, leadership, and organization: Do American theories apply abroad?

    Organizational Dynamics, 9(1), 42–63.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=5143098&site=ehost-live&scope=site

    U.S. Equal Employment Opportunity Commission. (2003, April 23). Employee rights when working for

    multinational employers (Control No. EEOC-NVTA-2003-2).
    https://www.eeoc.gov/laws/guidance/employee-rights-when-working-multinational-employers

    UNIT VIII STUDY GUIDE
    Going Global

    HRM 6301, Human Resource Management Methods 2

    UNIT x STUDY GUIDE
    Title

    Unit Lesson

    You are excited about the new opportunity because you realize it would be highly beneficial to gain
    international experience. As a result, you start to do more research. While this move can benefit you
    professionally and open more doors for you in the future, globalization can also be great for the organization.
    Kelly (2019) agrees, and she states that having staff with international experience will improve and speed up
    the process for an organization that would like to focus on global expansion. While you have vacationed
    internationally and experienced other cultures, you never really thought about the cultures of other countries
    from a business and leadership perspective.

    Regardless of how good a globalization strategy is, the culture of the new location will have an impact on an
    organization’s success or failure. You read the article, “Understanding and Developing Organizational
    Culture” (Society for Human Resource Management, 2018), and you discovered that there is not one single
    definition of culture. You realize that you have a good understanding of culture and globalization but decide
    that you need to do some additional research as you embark on this journey.

    Globalization

    Globalization in the marketplace has been increasing rapidly for at least the last 20 years. Many organizations
    are expanding operations into a global market. There are many pros and cons about the impact of
    globalization, and it is critical that the process is conducted carefully and that due diligence is performed in
    identifying all potential factors, impacts, and requirements. Supporters of globalization indicate that this
    promotes economic growth, allows for more competition, and lowers prices of products for consumers. If your
    car came with a detailed list of where each individual part came from, you would see that they are made in
    several countries.

    There are those who do not support globalization because they believe it results in job losses in the home
    country. There is also concern regarding differences in international laws, taxes, labor wages, and minimum
    ages. By focusing on culture from a leadership perspective, you must take into account how all of these
    factors can impact your current organization, its employees, your stakeholders, and even your community.

    Cultural Frameworks

    There are many different cultural frameworks. Ng et al. (2007) evaluated the cultural differences between
    Hofstede’s framework and Schwartz’s framework. The frameworks help one to understand national culture
    and its relationship to an organization’s culture. Both Hofstede and Schwartz discovered that there were
    greater cultural differences between countries than within the countries. Hofstede views culture as a system
    of values and norms shared by people. Hofstede’s focus is data driven where countries are given numerical
    scores based on how culture relates to values in the workplace. As such, either framework can be used for an
    analysis of the different countries. Review the differences in their frameworks below.

    HRM 6301, Human Resource Management Methods 3

    UNIT x STUDY GUIDE
    Title

    Hofstede’s Framework and Schwartz’s Framework

    Cultural Impact on Global HR Practices

    By using one of the cultural frameworks (or even a combination of both), you can make sense of cultural
    influences. Before expanding operations, Nagele-Piazza (2017) suggests that organizations should first
    identify a key individual who will direct and control employees for international projects. The leadership should
    decide on a strategy about hiring local nationals, which are employees hired for jobs in their own country.
    Third, it is important to understand the local employment laws. Additionally, privacy laws should be reviewed.
    You cannot assume that employment, labor, and privacy laws are the same or even similar to those in the
    United States or your state. Some of the differences might surprise you.

    Hofstede's framework (Hofstede, n.d.)

    Schwartz's framework (Ng et al., 2007)

    HRM 6301, Human Resource Management Methods 4

    UNIT x STUDY GUIDE
    Title

    As the leader of this initiative, you now understand the impact that culture will have on decisions that are
    made regarding workplace planning, recruiting, staffing, training, compensation, performance evaluations,
    and employee morale. You also know that instead of using just a cultural framework, you can provide an
    analysis of the different countries by doing research about the country in order to determine the scope of the
    impacts its culture may have on your organization and its globalization efforts. To do so, the following are
    some of the questions that you need to ask.

    • What are the working generations in the population?
    • What is the overall size of the workforce?
    • Will the organization be located in an urban or rural area?
    • What is the national language?
    • What is the political system?
    • What is the economic system?
    • What is the legal system?
    • What type of educational system do they have?
    • What type of healthcare system do they have?
    • Are there unions?
    • What is the average salary?
    • What type of infrastructure is there?
    • Are there any technological restrictions?

    Once the organization decides where to expand its global operations, organization culture should then be
    reviewed.

    Organizational Culture

    Organizational culture includes the beliefs, attitudes, behaviors, artifacts, ceremonies, stories, rituals, values,
    and assumptions of the organizational members. You know that culture impacts the HR management
    function. Years ago, back in your first job, the focus was the bottom line; you did whatever needed to be done
    to reach financial goals. Employees were expected to work until late evening; they often worked on holidays,
    and employees were not appreciated. Teamwork was not encouraged, and as such, employees were not nice
    to each other. In your second job, you had the opportunity to work in Germany. You discovered that you were
    not permitted to work more than 8 hours a day (and definitely not on Sunday) as you were not in the service
    industry. There is a connectedness between a country’s culture and organizational culture. For example, let’s
    say that you want to show your appreciation for employees in the expansion location with a paid company
    lunch. Gartman et al. (2018) reminds us that culture is something that may impact something as simple as a
    company lunch. In Germany, you may serve hamburgers, but in India, you would not out of respect for the
    likely greater incidence of employees who may not eat meat or that particular kind of meat. You understand
    the complexity of globalization and have now started thinking about recruiting and selecting employees.

    Recruiting and Selecting Employees

    One of the first things you are asked to do is recruit and hire employees. It would be unrealistic to assume
    that all employees will come from your organization located in the United States. You decide to evaluate
    different staffing strategies. Caligiuri and Stroh (1995) did a study evaluating international HR staffing
    approaches. In their study, they found that the ethnocentric staffing policy was less effective than the
    polycentric, regiocentric, and the geocentric staffing approaches.

    If your organization used an ethnocentric staffing approach, all of the key positions would be filled by home
    country or parent-country nationals. Parent-country nationals are individuals working in another country other
    than their country of origin. A polycentric approach is where the host-country employees manage the
    organization located in their country. If you employ a regiocentric strategy, both the host-country nationals and
    third-country nationals (those who are not from the home or host country) are selected for key positions. In
    other words, those selected are from the region. With a geocentric approach, you select the best person for
    the job regardless of where they are from. This approach can be tricky, especially if there are local laws or
    agreements in the legal language of the expansion that require a minimum number of locals to be hired.

    HRM 6301, Human Resource Management Methods 5

    UNIT x STUDY GUIDE
    Title

    Additionally, hiring all or a majority of non-host-country employees could create tension in the local community
    and be seen as insulting their culture.

    Once you have decided on the staffing approach that you will employ, you need to focus on determining how
    you will compensate and train new employees. This, of course, will differ depending on whether they are from
    the home country, the host country or a third country. You, therefore, need to be aware of all laws that might
    affect this process.

    Employee Rights and Laws

    According to the U.S. Equal Employment Opportunity Commission (EEOC, 2003), employees working in the
    United States or its territories are protected by EEO laws. If employees are working for an organization that
    is incorporated with, based in, or has sufficient connections with the United States, they are protected by
    EEO laws.

    However, as a U.S. employer with operations in another country, it is important to know the local laws as they
    may supersede requirements of Title VII of the Civil Rights Act, the Age Discrimination in Employment Act,
    and the Americans with Disabilities Act. Many other laws also must be considered from an HR perspective.
    For example, Dowling (2019) discussed the differences in data collection laws. In European Union countries,
    internal emails cannot be used for an investigation that may get someone fired. If the term personal is in the
    subject line, an employer may not read the employee’s email. In France, internal emails cannot be accessed
    unless there is approval by the court where a court officer will oversee the review. In Alberta, Canada, an
    employee must agree that the employer can read their emails. Brin (2019) shared that in France, employers
    with a least 50 workers must negotiate with unions and allow workers to disconnect from work technology
    after work hours. This is considered important to worker safety and health. In Spain, there is a similar new law
    affording remote workers the right to disconnect. According to the new law, there should also be training to
    avoid computer fatigue. However, it should be noted that there are no penalties if the law is not followed in
    both countries.

    Conclusion

    After doing an evaluation of employee rights and laws, you realize that the decision to globalize and the
    process it entails is incredibly complex. Evaluating the culture of the country, the organizational culture, and
    the impact on HR practices is critical. However, after doing your research, you are confident that you will be
    able to help leadership make the important decisions regarding globalization through proper evaluation and
    assessment of the options. You will demonstrate this in this unit’s assignment.

    References

    Brin, D. W. (2019, May 20). France and Spain: Right to disconnect spreads. Society for Human Resource

    Management. https://www.shrm.org/resourcesandtools/legal-and-compliance/employment-
    law/pages/global-france-spain-right-to-disconnect.aspx

    Caligiuri, P. M., & Stroh, L. K. (1995, September). Multinational corporation management strategies and

    international human resource practices: Bringing IHRM to the bottom line. International Journal of
    Human Resource Management, 6(3), 494–507.
    https://libraryresources.columbiasouthern.edu/login?url=https://search.ebscohost.com/login.aspx?dire
    ct=true&db=bsu&AN=5835623&site=ehost-live&scope=site

    Dowling, D. C., Jr. (2019, August 7). How to gather documents overseas in a global investigation. Society for

    Human Resource Management. https://www.shrm.org/ResourcesAndTools/legal-and-
    compliance/employment-law/Pages/global-investigations-gathering-documents.aspx

    HRM 6301, Human Resource Management Methods 6

    UNIT x STUDY GUIDE
    Title

    Gartman, C., Woods, W., & Morey, R. (2018, April). Culture eats strategy for breakfast: Franchise compliance
    programs can have many benefits. Reap the rewards of a culture of compliance. Franchising World,
    50(4), 38–39.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=edsbig&AN=edsbig.A537410949&site=eds-live&scope=site

    Hofstede, G. (n.d.). The 6-D model of national culture. Geert Hofstede. https://geerthofstede.com/culture-

    geert-hofstede-gert-jan-hofstede/6d-model-of-national-culture/

    Kelly, N. (2019, July 5). 5 ways to foster a global mindset in your company. Harvard Business Review.

    https://hbr.org/2019/07/5-ways-to-foster-a-global-mindset-in-your-company

    Nagele-Piazza, L. (2017, June 20). 4 HR points to consider when going global. Society for Human Resource

    Management. https://www.shrm.org/hr-today/news/hr-news/conference-today/pages/2017/4-hr-
    points-to-consider-when-going-global.aspx

    Ng, S. I., Lee, J. A., & Soutar, G. N. (2007). Are Hofstede’s and Schwartz’s value framework congruent?

    International Marketing Review, 24(2), 164–180. https://search-proquest-
    com.libraryresources.columbiasouthern.edu/docview/224316744?accountid=33337

    Society for Human Resource Management. (2018, August 13). Understanding and developing organizational

    culture. https://www.shrm.org/resourcesandtools/tools-and-
    samples/toolkits/pages/understandinganddevelopingorganizationalculture.aspx

    U.S. Equal Employment Opportunity Commission. (2003, April 23). Employee rights when working for

    multinational employers (Control No. EEOC-NVTA-2003-2). https://www.eeoc.gov/facts/multi-
    employees.html

    Suggested Unit Resources

    In order to access the following resources, click the links below.

    The following resources provide a framework for better understanding the concepts presented in this unit.

    Farndale, E., Paauwe, J., Morris, S. S., Stahl, G. K., Stiles, P., Trevor, J., & Wright, P. M. (2010). Context-

    bound configurations of corporate HR functions in multinational corporations. Human Resource
    Management, 49(1), 45–66.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=47805875&site=ehost-live&scope=site

    Ng, S. I., Lee, J. A., & Soutar, G. N. (2007). Are Hofstede’s and Schwartz’s value framework congruent?

    International Marketing Review, 24(2), 164–180. https://search-proquest-
    com.libraryresources.columbiasouthern.edu/docview/224316744?accountid=33337

    – 1
    – 2

  • [Solved] ECO 6301 VI

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    – ## EconomicsforManagersECO6301UnitVIAssignment.docx – ## ECO6301UnitVIAssignmenttemplate.docx – ## UnitIVStudyGuide.pdf – ## UnitVStudyGuide.pdf **## EconomicsforManagersECO6301UnitVIAssignment.docx** 2 Economics for Managers ECO 6301 **Unit VI Assignment** This assignment measures your mastery of…

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    **## EconomicsforManagersECO6301UnitVIAssignment.docx**

    2

    Economics for Managers ECO 6301

    **Unit VI Assignment**

    This assignment measures your mastery of ULOs 3.2 and 5.1.

    For the Unit VI Assignment, you will complete the
    Unit VI Assignment template by answering the questions using the provided charts. Please note that there are two parts.

    Once complete, upload the assignment template into Blackboard for grading. Outside sources are not a requirement for this assignment.

    **## ECO6301UnitVIAssignmenttemplate.docx**

    **Unit VI Assignment**

    **Instructions: This assignment has two parts. Answer the questions using the charts.**

    **Part 1:**

    ![A four quadrant box is labeled with Firm 1 at the top and Firm 2 on the left. The top left box is labeled high price on the top and high price on the left and contains 8, 8. The top right box is labeled low price on the top and high price on the left with 0, 10. The bottom left box is labeled High price on the top and low price on the left with 10, 0. The bottom right box is labeled Low price on the top and low price on the left with 3, 3.](https://www.sweetstudy.com/questions/eco-6301-vi)

    **Question**: For the above game, identify the Nash Equilibrium. Does Firm 1 have a dominant strategy? If so, what is it? Does Firm 2 have a dominant strategy? If so, what is it?

    **Your response:**

    **Part 2:**

    ![A four quadrant box is labeled with Firm 1 at the top and Firm 2 on the left. The top left box is labeled high price on the top and high price on the left and contains 2,4. The top right box is labeled low price on the top and high price on the left with 3,6. The bottom left box is labeled High price on the top and low price on the left with 4,2. The bottom right box is labeled Low price on the top and low price on the left with 1,5.](https://www.sweetstudy.com/questions/eco-6301-vi)

    **Question:** For the above game, identify the Nash Equilibrium. Does Firm 1 have a dominant strategy? If so, what is it? Does Firm 2 have a dominant strategy? If so, what is it?

    **Your response:**

    ## image1.png

    ## image2.png

    **## UnitIVStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit IV

    At the end of this unit, you should be able to:

    5. Apply game theory to pricing and to output decisions in an oligopoly market.
    5.1 Explain how game theory can lead to fierce competition even with only a few competitors in a

    market.

    6. Analyze the basis of trade.
    6.3 Describe how countries opening to international trade affect the market structure of domestic

    industries.

    Required Unit Resources

    Chapter 11: Foreign Exchange, Trade, and Bubbles (ULO 6.3)

    Chapter 15: Strategic Games (ULO 5.1)

    Chapter 16: Bargaining (ULO 5.1)

    Unit Lesson

    Lesson: International Trade and Strategic Behavior (ULOs 5.1, 6.3)
    This lesson will introduce you to the topics of international trade and strategic behavior that are the focus of
    this unit.

    Trade goes back to the dawn of civilization. As travel has become easier and more accessible, international
    trade has connected regions from across the globe. Unit I introduced the benefits of trade with the Starburst
    example. The same benefits hold when the exchange crosses international borders.

    In the Starburst example, the benefits of trade arose from differences in flavor preferences. Generally
    speaking, the benefits of trade arise from differences in opportunity costs. The opportunity costs are not about
    what we give up when we consume, but what we give up when we produce. That is, there are differences in
    production capabilities between people, regions, and countries. Iowa and Nebraska, for example are well
    equipped for producing corn. Colombia is well equipped for producing coffee. Countries with large populations
    and limited capital are well equipped for producing labor intensive goods. Countries with smaller populations
    but more capital are well equipped for producing capital intensive goods.

    If a Country Can Be Self-Sufficient, Should it Be?

    Even if a country can produce everything it needs, it is still better off trading due to differences in opportunity
    costs. Opportunity costs are the value of what you give up when making a choice. The United States might be
    able to produce bananas, but the resources required to produce enough bananas for the entire population
    could be used to produce other things. Producing enough bananas would take more land. Producing enough
    bananas would likely take more buildings and energy to create the proper tropical climate to grow bananas.
    This would all take resources away from producing corn or cars. The labor required to grow more bananas
    would also take labor away from software development or education. Growing bananas in the United States
    would mean giving up a lot of corn (or cars or software development or education), but producing corn (or
    cars or software or education) would not result in losing much banana production.

    UNIT IV STUDY GUIDE
    International Trade and Strategic Behavior

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    Having a lower opportunity cost to produce a certain good is called having a comparative advantage in that
    good. Basing production on comparative advantage leads to more overall production that can then be traded
    for other goods. In addition to benefiting from a lower opportunity cost, focusing production on specific goods
    also allows for specialization so producers get even better at producing their goods. By specializing, people
    get better at their tasks and also have time to develop new and better ways of producing. If people are trying
    to produce multiple things, they cannot put the same level of attention into improving specific processes. You
    might be familiar with the phrase “a jack of all trades, but a master of none.” That is what happens without
    specialization.

    Despite the benefits of trade, fear of international trade is common. There are concerns that jobs are lost to
    foreign competition. Certainly, there are specific jobs that will no longer be needed domestically. If the United
    States, for example, had been self-sufficiently producing bananas and then opened up to international trade
    and started importing bananas, jobs in the banana production market would no longer be needed. That does
    not mean, however, that overall jobs are lost to international trade. Jobs are gained from the ability to export
    goods. Jobs are also gained because the resources that were previously used to grow bananas can now be
    used to produce other goods. Also, the lower prices for bananas enable consumers to redirect their spending
    to other goods.

    Trade Protection

    What you might have picked up from the example of the bananas is that despite the benefits of trade, banana
    producers would still have a strong incentive to prevent competition from foreign banana producers. Banana
    producers then have an incentive to lobby the government for protection from foreign competition. This
    protection usually comes in the form of tariffs (there are other forms of trade protection, such as quotas, but
    tariffs are by far the most common).

    Tariffs are in the news a lot, particularly between China and the United States in 2019. Basic economic theory
    tells us that tariffs are simply passed on to consumers. This is not, however, what we necessarily see in
    practice. Elasticity is an important determinant in tax incidence (that is, who bears the burden of a tax). Tax
    incidence is determined by the relative elasticities between supply and demand. From a trade perspective,
    exchange rates can serve as a way for countries to absorb the tariff without having to raise their prices. China
    lets their currency depreciate to keep the prices of their products the same. When this happens, anybody
    holding Chinese currency essentially pays the tariff. Of course, that does not mean there are not costs to the
    United States from assessing tariffs. When China devalues their currency, U.S. produced goods become
    more expensive in China, so quantity demanded for U.S. exports goes down. Ultimately, both countries bear
    some of the burden from tariffs.

    So why assess tariffs? The most obvious reason is as described above: to help domestic interest groups.
    There can be other reasons, however, and to see that, we have to introduce some game theory.

    Game Theory

    Game theory is applied to decision-making where one party’s actions affect another party’s outcome. Game
    theory is not applicable to perfectly competitive markets because individual producers cannot affect the
    market outcome. Game theory is not applicable to monopoly because there is only one producer in a
    monopoly. Game theory is applicable to oligopolies where there are a handful of producers; so what one
    producer does affects the other producers.

    If Coke, for example, comes out with a new product, that new product will likely affect Pepsi and Dr Pepper.
    If Coke changes their price or embarks on a new marketing campaign, Pepsi and Dr Pepper will likely be
    affected. Pepsi and Dr Pepper, thus, need to decide how they will respond to Coke’s actions. Coke will also
    need to anticipate Pepsi and Dr Pepper’s response when deciding the action they take (you can think of it
    like the Battle of Wits from The Princess Bride). The optimal strategy for a “game” is determined by
    evaluating likely strategies by opponents and expected outcomes. Optimal strategies can also be affected
    by the structure of a game. Some games are sequential, where one player makes a decision and then the
    other player makes a decision in response to the first player’s decision. Other games are simultaneous
    where players make their decision at the same time. Ultimately, the outcome of a game is driven by the
    likely outcomes.

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    Game theory can also be applied to bargaining situations, for example, when bargaining over trade
    agreements. Trade agreements are often termed “free trade agreements,” but that is a bit of a misnomer.
    Certainly, most trade agreements eliminate tariffs, but if that is all that was involved, the agreement could be
    written on a cocktail napkin. Instead, trade agreements often include restrictions or allowances for subsidies,
    requirement wages, environmental rules, and rules of origin (rules of origin are requirements on the countries
    where intermediate goods in the production process were produced). All of these requirements can move the
    agreement away from free trade.

    This is where game theory and bargaining can play a role. Consider trade between the United States and
    China. China places considerable trade restrictions on imports from the United States, and the United States
    has historically not put many on imports from China. Now, per trade theory, this is still beneficial to the United
    States. That is, the United States still benefits from getting goods produced at a lower cost than companies in
    the United States could produce them. The United States would benefit even more, however, if China did not
    have trade restrictions. China, however, feels they benefit from their trade restrictions (standard economic
    theory would say they do not).

    So how does the United States get China to reduce their trade restrictions?

    One possible approach is to employ trade restrictions against Chinese products. This can be thought of as a
    game of chicken, except where the costs are steeper for China than for the United States. The risk, of course,
    for the United States, is that the costs are actually steeper for the United States.

    There are other factors that can matter for a negotiation as well. You might be familiar with the phrase,
    “Whoever gives a number first, loses.” That would suggest that being a first mover could put a bargainer at a
    disadvantage. This is because moving first reveals information to your opponent that they can use to decide
    the action. Credibility to commit to a position matters too. In a repeated game, if one party cannot credibly
    stick to their position through multiple iterations of a game, then the other party can benefit by simply waiting
    out the other party. In the case of the United States and China, the frequency of elections can be a handicap.
    The Chinese government will likely be in power for the foreseeable future, while any given United States
    administration only has certainty of four years at a time to be in power. Fortunately, you can see a lot of these
    concepts play out in the real world by paying attention to the news.

    **## UnitVStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit V

    At the end of this unit, you should be able to:

    3. Analyze how price and output influence profit maximization under different market structures.
    3.2 Explain how market power affects different types of pricing strategies.

    4. Evaluate strategic pricing decisions.

    4.1 Explain the conditions necessary to price discriminate.

    Required Unit Resources

    Chapter 12: More Realistic and Complex Pricing (ULO 3.2)

    Chapter 13: Direct Price Discrimination (ULO 4.1)

    Chapter 14: Indirect Price Discrimination (ULO 4.1)

    Article: Public Subsidies and the Location and Pricing of Sports
    This article discusses sports subsidies and pricing by analyzing how sports teams make decisions.

    Unit Lesson

    Lesson: Pricing and Greater Profit (ULOs 3.2, 4.1)
    This lesson introduces you to the topics covered in this unit.

    Firms have to answer two important questions: How much of their product should they produce, and how
    much should they charge for their product? The two are certainly linked, but the pricing decision is generally
    more complicated and drives the production decision. In basic economics, price is determined by the
    intersection of supply and demand, with price (P) determined on output determined by marginal revenue (MR)
    equals marginal cost (MC). A pricing strategy given earlier in the course is to set price such that the following
    equation holds:

    In practice, however, pricing strategies often deviate from this standard theory. Sometimes, for example, firms
    have multiple products and this affects their pricing strategies. A firm might want to lower prices to sell more
    of a product, but if the increase in sales in one product simply comes from “stealing” sales from another of
    their products, then this is not really a net gain to the company. Also, owning more brands in a market gives
    the firm more market power, which means raising prices is more profitable. A potential problem with raising
    prices based on newfound market power is that it could attract the attention of the Antitrust Division of the
    Justice Department.

    The question is what to do strategically. A profit improving approach would be to raise the price on whichever
    product has a lower profit margin. With the lower margin product now being relatively more expensive,
    consumers will be more likely to purchase the higher profit margin.

    The preceding strategy is based on the goods being substitutes. If a single producer yields two products that
    are complements, then the profit maximizing action is to reduce the price on both products. By reducing the

    UNIT V STUDY GUIDE
    Pricing and Greater Profit

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    price, the producer increases quantity demanded for one good, but as a result, increases demand for the
    other good. Increasing sales of both products increases total profit.

    Another pricing situation of interest is when producers have fixed capacity (think a cruise ship or concert). In
    these cases, lowering prices to sell more product does not necessarily work because there might not be the
    ability to provide more product. The result might be a situation where MR > MC, contrary to the standard profit
    maximizing rule that MR = MC.

    Promotional pricing is another instance where firms might deviate from the standard pricing rule. Advertising
    can serve two broad goals: promote based on price or promote based on quality. The type of advertising will
    determine the appropriate price strategy. If the advertising focuses on promoting products based on price,
    demand will become more elastic, so lowering price makes sense. If the advertising focuses on promoting
    product quality, the demand will become more inelastic so raising price makes sense. This second point is
    important because price can often convey information about product quality. Promoting product quality and
    lowering price can send conflicting messages to consumers.

    Following in a similar vein of consumers inferring information about a product based on price, consumers
    sometimes have price expectations. Managing price expectations is why businesses will sometimes set a
    “suggested retail price” and then give the price of the product they are selling. The goal is to set a high price
    in the customer’s mind so that they will be happy about the lower price. You might also see producers set a
    low price but end up selling at a higher price or generating revenue some other way. Musicians might set low
    concert prices but then hold back tickets to sell themselves on the secondary market. Sports teams might set
    low prices to build up a fan base but then leverage that popularity to receive government subsidies for
    stadiums. If you would like to learn more about sports subsidies and pricing, you can read the article “Public
    Subsidies and the Location and Pricing of Sports” by Porter and Thomas.

    Price Discrimination

    Up until now, the assumption has been that firms can only charge one price to all of their customers, but
    sometimes firms can charge different prices to different customers. This is called price discrimination.
    Examples of price discrimination are matinee ticket prices for movies and discounts for seniors and military
    members.

    Several criteria must be met for firms to successfully price discriminate. There must be consumers with
    different elasticities, that is different price sensitivity, and firms must be able to identify those different
    customers (consumers with more inelastic demands pay higher prices). As part of that identification, they
    must be able to implement different prices for those customers. Finally, firms must be able to prevent resale.
    If consumers who can buy at low prices are able to turn around and sell to the consumers willing to pay a high
    price, then firms lose their ability to sell to the high price consumers.

    Price discrimination comes in three different categories. First-degree price discrimination, also called perfect
    price discrimination, is when firms are able to charge each consumer their maximum willingness to pay. Car
    sales that involve negotiation are an attempt at first-degree price discrimination. Data mining is a growing tool
    to help firms toward first-degree price discrimination.

    Second-degree price discrimination involves things like volume discounts or frequent customer cards. The
    idea is not to charge different prices to every customer but to allow customers to self-select into different price
    points for the producer to increase profit.

    Third degree price discrimination alters prices based on demographics or other group characteristics. This is
    the category of price discrimination with student or military discounts or movie theaters changing prices by
    time of day.

    Firms can use a variety of ways to identify customers based on their elasticity. Take airline tickets, for
    example. There are certain days of the week to travel when ticket prices are lower, and people can often get
    tickets at a lower price if they purchase their tickets a few weeks in advance. Why? Because airlines are
    attempting to separate the elastic buyers (vacation travelers) from the inelastic buyers (business travelers).
    Who likely plans a trip at least a few weeks in advance? Vacation travelers. Who is more likely to need a

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    ticket on short notice? Business travelers. Who is unlikely to travel over a weekend? Business travelers. Who
    can afford to pay more for their ticket? Business travelers.

    Firms can also sell different versions of a product. Consumers with a high value for a product will likely need
    all of the bells and whistles of the product, but consumers with a low value for a product might only need the
    basic. That is why you might see a “pro” version of software or a “student” or “home” version. Sometimes,
    businesses can separate high use customers, such as printers and ink or razors and razor blades. The cost to
    buy the printer or the razor might be low, but to continue using the product requires ink or razor blades and
    those are sold at a higher markup.

    Firms can also use bundling to extract extra revenue. This strategy led to the value meals at McDonald’s or
    computers with preloaded software. Bundling increases the value of the base product, allowing producers to
    sell the product for a higher price. Customers might also be more inclined to pay a higher price for an all-
    inclusive deal than to pay small amounts to continually add features or products. A similar approach is taken
    with all-inclusive resorts and wrist bands at fairs. There is comfort in knowing that you can pay one price and
    be done with paying.

    Price discrimination sounds bad, largely because of the word discrimination, but it can be beneficial to society.
    When people hear about price discrimination, they often think of charging higher prices to certain consumers,
    but in many cases, it is about lowering prices (coupons, student discounts, matinees, etc.). Since some
    consumers can pay a lower price, that brings them into the market and allows them to benefit from the
    exchange. When looking at value to society, economists generally look at the total amount of exchange that
    occurs. How much the consumer benefits and how much the producer benefits are certainly interesting, but
    ultimately it is the amount of exchange that occurs. With price discrimination, the amount of exchange
    certainly increases, though it does come with more benefit going to producers and less going to consumers.

    Just because producers benefit at the expense of consumers does not mean consumers cannot benefit from
    price discrimination. Take Uber’s surge pricing, for example. Surge pricing is a type of price discrimination.
    People who are going to use an Uber on a busy night, such as Friday or Saturday night are going to pay more
    for an Uber. However, by charging more, Uber also attracts more Uber drivers to work on those busy nights.
    Without these additional drivers, Uber customers looking for an Uber on Friday or Saturday night would likely
    have long waits for an Uber or may not be able to get an Uber at all.

    Similarly, hotels charging higher prices during conferences, sporting events, and even natural disasters
    discourages demand and encourages consumers to be efficient in their consumption. By encouraging efficient
    consumption, there will be more rooms available for other people. Without the higher prices, more people
    would be left out. Certainly, this all works to the benefit of the producers, but it also works to the benefit of the
    consumer, and that is an important feature of price discrimination that should not be overlooked. It is another
    benefit of a free market system. Even if producers are acting in their own best interest, the benefits of those
    self-interested actions help other people.

    Reference

    Porter, P. K., & Thomas, C. R. (2010). Public subsidies and the location and pricing of sports. Southern

    Economic Journal, 76(3), 693–710.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=47776241&site=ehost-live&scope=site

    **## UnitVStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit V

    At the end of this unit, you should be able to:

    3. Analyze how price and output influence profit maximization under different market structures.
    3.2 Explain how market power affects different types of pricing strategies.

    4. Evaluate strategic pricing decisions.

    4.1 Explain the conditions necessary to price discriminate.

    Required Unit Resources

    Chapter 12: More Realistic and Complex Pricing (ULO 3.2)

    Chapter 13: Direct Price Discrimination (ULO 4.1)

    Chapter 14: Indirect Price Discrimination (ULO 4.1)

    Article: Public Subsidies and the Location and Pricing of Sports
    This article discusses sports subsidies and pricing by analyzing how sports teams make decisions.

    Unit Lesson

    Lesson: Pricing and Greater Profit (ULOs 3.2, 4.1)
    This lesson introduces you to the topics covered in this unit.

    Firms have to answer two important questions: How much of their product should they produce, and how
    much should they charge for their product? The two are certainly linked, but the pricing decision is generally
    more complicated and drives the production decision. In basic economics, price is determined by the
    intersection of supply and demand, with price (P) determined on output determined by marginal revenue (MR)
    equals marginal cost (MC). A pricing strategy given earlier in the course is to set price such that the following
    equation holds:

    In practice, however, pricing strategies often deviate from this standard theory. Sometimes, for example, firms
    have multiple products and this affects their pricing strategies. A firm might want to lower prices to sell more
    of a product, but if the increase in sales in one product simply comes from “stealing” sales from another of
    their products, then this is not really a net gain to the company. Also, owning more brands in a market gives
    the firm more market power, which means raising prices is more profitable. A potential problem with raising
    prices based on newfound market power is that it could attract the attention of the Antitrust Division of the
    Justice Department.

    The question is what to do strategically. A profit improving approach would be to raise the price on whichever
    product has a lower profit margin. With the lower margin product now being relatively more expensive,
    consumers will be more likely to purchase the higher profit margin.

    The preceding strategy is based on the goods being substitutes. If a single producer yields two products that
    are complements, then the profit maximizing action is to reduce the price on both products. By reducing the

    UNIT V STUDY GUIDE
    Pricing and Greater Profit

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    price, the producer increases quantity demanded for one good, but as a result, increases demand for the
    other good. Increasing sales of both products increases total profit.

    Another pricing situation of interest is when producers have fixed capacity (think a cruise ship or concert). In
    these cases, lowering prices to sell more product does not necessarily work because there might not be the
    ability to provide more product. The result might be a situation where MR > MC, contrary to the standard profit
    maximizing rule that MR = MC.

    Promotional pricing is another instance where firms might deviate from the standard pricing rule. Advertising
    can serve two broad goals: promote based on price or promote based on quality. The type of advertising will
    determine the appropriate price strategy. If the advertising focuses on promoting products based on price,
    demand will become more elastic, so lowering price makes sense. If the advertising focuses on promoting
    product quality, the demand will become more inelastic so raising price makes sense. This second point is
    important because price can often convey information about product quality. Promoting product quality and
    lowering price can send conflicting messages to consumers.

    Following in a similar vein of consumers inferring information about a product based on price, consumers
    sometimes have price expectations. Managing price expectations is why businesses will sometimes set a
    “suggested retail price” and then give the price of the product they are selling. The goal is to set a high price
    in the customer’s mind so that they will be happy about the lower price. You might also see producers set a
    low price but end up selling at a higher price or generating revenue some other way. Musicians might set low
    concert prices but then hold back tickets to sell themselves on the secondary market. Sports teams might set
    low prices to build up a fan base but then leverage that popularity to receive government subsidies for
    stadiums. If you would like to learn more about sports subsidies and pricing, you can read the article “Public
    Subsidies and the Location and Pricing of Sports” by Porter and Thomas.

    Price Discrimination

    Up until now, the assumption has been that firms can only charge one price to all of their customers, but
    sometimes firms can charge different prices to different customers. This is called price discrimination.
    Examples of price discrimination are matinee ticket prices for movies and discounts for seniors and military
    members.

    Several criteria must be met for firms to successfully price discriminate. There must be consumers with
    different elasticities, that is different price sensitivity, and firms must be able to identify those different
    customers (consumers with more inelastic demands pay higher prices). As part of that identification, they
    must be able to implement different prices for those customers. Finally, firms must be able to prevent resale.
    If consumers who can buy at low prices are able to turn around and sell to the consumers willing to pay a high
    price, then firms lose their ability to sell to the high price consumers.

    Price discrimination comes in three different categories. First-degree price discrimination, also called perfect
    price discrimination, is when firms are able to charge each consumer their maximum willingness to pay. Car
    sales that involve negotiation are an attempt at first-degree price discrimination. Data mining is a growing tool
    to help firms toward first-degree price discrimination.

    Second-degree price discrimination involves things like volume discounts or frequent customer cards. The
    idea is not to charge different prices to every customer but to allow customers to self-select into different price
    points for the producer to increase profit.

    Third degree price discrimination alters prices based on demographics or other group characteristics. This is
    the category of price discrimination with student or military discounts or movie theaters changing prices by
    time of day.

    Firms can use a variety of ways to identify customers based on their elasticity. Take airline tickets, for
    example. There are certain days of the week to travel when ticket prices are lower, and people can often get
    tickets at a lower price if they purchase their tickets a few weeks in advance. Why? Because airlines are
    attempting to separate the elastic buyers (vacation travelers) from the inelastic buyers (business travelers).
    Who likely plans a trip at least a few weeks in advance? Vacation travelers. Who is more likely to need a

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    ticket on short notice? Business travelers. Who is unlikely to travel over a weekend? Business travelers. Who
    can afford to pay more for their ticket? Business travelers.

    Firms can also sell different versions of a product. Consumers with a high value for a product will likely need
    all of the bells and whistles of the product, but consumers with a low value for a product might only need the
    basic. That is why you might see a “pro” version of software or a “student” or “home” version. Sometimes,
    businesses can separate high use customers, such as printers and ink or razors and razor blades. The cost to
    buy the printer or the razor might be low, but to continue using the product requires ink or razor blades and
    those are sold at a higher markup.

    Firms can also use bundling to extract extra revenue. This strategy led to the value meals at McDonald’s or
    computers with preloaded software. Bundling increases the value of the base product, allowing producers to
    sell the product for a higher price. Customers might also be more inclined to pay a higher price for an all-
    inclusive deal than to pay small amounts to continually add features or products. A similar approach is taken
    with all-inclusive resorts and wrist bands at fairs. There is comfort in knowing that you can pay one price and
    be done with paying.

    Price discrimination sounds bad, largely because of the word discrimination, but it can be beneficial to society.
    When people hear about price discrimination, they often think of charging higher prices to certain consumers,
    but in many cases, it is about lowering prices (coupons, student discounts, matinees, etc.). Since some
    consumers can pay a lower price, that brings them into the market and allows them to benefit from the
    exchange. When looking at value to society, economists generally look at the total amount of exchange that
    occurs. How much the consumer benefits and how much the producer benefits are certainly interesting, but
    ultimately it is the amount of exchange that occurs. With price discrimination, the amount of exchange
    certainly increases, though it does come with more benefit going to producers and less going to consumers.

    Just because producers benefit at the expense of consumers does not mean consumers cannot benefit from
    price discrimination. Take Uber’s surge pricing, for example. Surge pricing is a type of price discrimination.
    People who are going to use an Uber on a busy night, such as Friday or Saturday night are going to pay more
    for an Uber. However, by charging more, Uber also attracts more Uber drivers to work on those busy nights.
    Without these additional drivers, Uber customers looking for an Uber on Friday or Saturday night would likely
    have long waits for an Uber or may not be able to get an Uber at all.

    Similarly, hotels charging higher prices during conferences, sporting events, and even natural disasters
    discourages demand and encourages consumers to be efficient in their consumption. By encouraging efficient
    consumption, there will be more rooms available for other people. Without the higher prices, more people
    would be left out. Certainly, this all works to the benefit of the producers, but it also works to the benefit of the
    consumer, and that is an important feature of price discrimination that should not be overlooked. It is another
    benefit of a free market system. Even if producers are acting in their own best interest, the benefits of those
    self-interested actions help other people.

    Reference

    Porter, P. K., & Thomas, C. R. (2010). Public subsidies and the location and pricing of sports. Southern

    Economic Journal, 76(3), 693–710.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=47776241&site=ehost-live&scope=site

    **## EconomicsforManagersECO6301UnitVIAssignment.docx**

    2

    Economics for Managers ECO 6301

    **Unit VI Assignment**

    This assignment measures your mastery of ULOs 3.2 and 5.1.

    For the Unit VI Assignment, you will complete the
    Unit VI Assignment template by answering the questions using the provided charts. Please note that there are two parts.

    Once complete, upload the assignment template into Blackboard for grading. Outside sources are not a requirement for this assignment.

    **## ECO6301UnitVIAssignmenttemplate.docx**

    **Unit VI Assignment**

    **Instructions: This assignment has two parts. Answer the questions using the charts.**

    **Part 1:**

    ![A four quadrant box is labeled with Firm 1 at the top and Firm 2 on the left. The top left box is labeled high price on the top and high price on the left and contains 8, 8. The top right box is labeled low price on the top and high price on the left with 0, 10. The bottom left box is labeled High price on the top and low price on the left with 10, 0. The bottom right box is labeled Low price on the top and low price on the left with 3, 3.](https://www.sweetstudy.com/questions/eco-6301-vi)

    **Question**: For the above game, identify the Nash Equilibrium. Does Firm 1 have a dominant strategy? If so, what is it? Does Firm 2 have a dominant strategy? If so, what is it?

    **Your response:**

    **Part 2:**

    ![A four quadrant box is labeled with Firm 1 at the top and Firm 2 on the left. The top left box is labeled high price on the top and high price on the left and contains 2,4. The top right box is labeled low price on the top and high price on the left with 3,6. The bottom left box is labeled High price on the top and low price on the left with 4,2. The bottom right box is labeled Low price on the top and low price on the left with 1,5.](https://www.sweetstudy.com/questions/eco-6301-vi)

    **Question:** For the above game, identify the Nash Equilibrium. Does Firm 1 have a dominant strategy? If so, what is it? Does Firm 2 have a dominant strategy? If so, what is it?

    **Your response:**

    ## image1.png

    ## image2.png

    **## UnitIVStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit IV

    At the end of this unit, you should be able to:

    5. Apply game theory to pricing and to output decisions in an oligopoly market.
    5.1 Explain how game theory can lead to fierce competition even with only a few competitors in a

    market.

    6. Analyze the basis of trade.
    6.3 Describe how countries opening to international trade affect the market structure of domestic

    industries.

    Required Unit Resources

    Chapter 11: Foreign Exchange, Trade, and Bubbles (ULO 6.3)

    Chapter 15: Strategic Games (ULO 5.1)

    Chapter 16: Bargaining (ULO 5.1)

    Unit Lesson

    Lesson: International Trade and Strategic Behavior (ULOs 5.1, 6.3)
    This lesson will introduce you to the topics of international trade and strategic behavior that are the focus of
    this unit.

    Trade goes back to the dawn of civilization. As travel has become easier and more accessible, international
    trade has connected regions from across the globe. Unit I introduced the benefits of trade with the Starburst
    example. The same benefits hold when the exchange crosses international borders.

    In the Starburst example, the benefits of trade arose from differences in flavor preferences. Generally
    speaking, the benefits of trade arise from differences in opportunity costs. The opportunity costs are not about
    what we give up when we consume, but what we give up when we produce. That is, there are differences in
    production capabilities between people, regions, and countries. Iowa and Nebraska, for example are well
    equipped for producing corn. Colombia is well equipped for producing coffee. Countries with large populations
    and limited capital are well equipped for producing labor intensive goods. Countries with smaller populations
    but more capital are well equipped for producing capital intensive goods.

    If a Country Can Be Self-Sufficient, Should it Be?

    Even if a country can produce everything it needs, it is still better off trading due to differences in opportunity
    costs. Opportunity costs are the value of what you give up when making a choice. The United States might be
    able to produce bananas, but the resources required to produce enough bananas for the entire population
    could be used to produce other things. Producing enough bananas would take more land. Producing enough
    bananas would likely take more buildings and energy to create the proper tropical climate to grow bananas.
    This would all take resources away from producing corn or cars. The labor required to grow more bananas
    would also take labor away from software development or education. Growing bananas in the United States
    would mean giving up a lot of corn (or cars or software development or education), but producing corn (or
    cars or software or education) would not result in losing much banana production.

    UNIT IV STUDY GUIDE
    International Trade and Strategic Behavior

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    Having a lower opportunity cost to produce a certain good is called having a comparative advantage in that
    good. Basing production on comparative advantage leads to more overall production that can then be traded
    for other goods. In addition to benefiting from a lower opportunity cost, focusing production on specific goods
    also allows for specialization so producers get even better at producing their goods. By specializing, people
    get better at their tasks and also have time to develop new and better ways of producing. If people are trying
    to produce multiple things, they cannot put the same level of attention into improving specific processes. You
    might be familiar with the phrase “a jack of all trades, but a master of none.” That is what happens without
    specialization.

    Despite the benefits of trade, fear of international trade is common. There are concerns that jobs are lost to
    foreign competition. Certainly, there are specific jobs that will no longer be needed domestically. If the United
    States, for example, had been self-sufficiently producing bananas and then opened up to international trade
    and started importing bananas, jobs in the banana production market would no longer be needed. That does
    not mean, however, that overall jobs are lost to international trade. Jobs are gained from the ability to export
    goods. Jobs are also gained because the resources that were previously used to grow bananas can now be
    used to produce other goods. Also, the lower prices for bananas enable consumers to redirect their spending
    to other goods.

    Trade Protection

    What you might have picked up from the example of the bananas is that despite the benefits of trade, banana
    producers would still have a strong incentive to prevent competition from foreign banana producers. Banana
    producers then have an incentive to lobby the government for protection from foreign competition. This
    protection usually comes in the form of tariffs (there are other forms of trade protection, such as quotas, but
    tariffs are by far the most common).

    Tariffs are in the news a lot, particularly between China and the United States in 2019. Basic economic theory
    tells us that tariffs are simply passed on to consumers. This is not, however, what we necessarily see in
    practice. Elasticity is an important determinant in tax incidence (that is, who bears the burden of a tax). Tax
    incidence is determined by the relative elasticities between supply and demand. From a trade perspective,
    exchange rates can serve as a way for countries to absorb the tariff without having to raise their prices. China
    lets their currency depreciate to keep the prices of their products the same. When this happens, anybody
    holding Chinese currency essentially pays the tariff. Of course, that does not mean there are not costs to the
    United States from assessing tariffs. When China devalues their currency, U.S. produced goods become
    more expensive in China, so quantity demanded for U.S. exports goes down. Ultimately, both countries bear
    some of the burden from tariffs.

    So why assess tariffs? The most obvious reason is as described above: to help domestic interest groups.
    There can be other reasons, however, and to see that, we have to introduce some game theory.

    Game Theory

    Game theory is applied to decision-making where one party’s actions affect another party’s outcome. Game
    theory is not applicable to perfectly competitive markets because individual producers cannot affect the
    market outcome. Game theory is not applicable to monopoly because there is only one producer in a
    monopoly. Game theory is applicable to oligopolies where there are a handful of producers; so what one
    producer does affects the other producers.

    If Coke, for example, comes out with a new product, that new product will likely affect Pepsi and Dr Pepper.
    If Coke changes their price or embarks on a new marketing campaign, Pepsi and Dr Pepper will likely be
    affected. Pepsi and Dr Pepper, thus, need to decide how they will respond to Coke’s actions. Coke will also
    need to anticipate Pepsi and Dr Pepper’s response when deciding the action they take (you can think of it
    like the Battle of Wits from The Princess Bride). The optimal strategy for a “game” is determined by
    evaluating likely strategies by opponents and expected outcomes. Optimal strategies can also be affected
    by the structure of a game. Some games are sequential, where one player makes a decision and then the
    other player makes a decision in response to the first player’s decision. Other games are simultaneous
    where players make their decision at the same time. Ultimately, the outcome of a game is driven by the
    likely outcomes.

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    Game theory can also be applied to bargaining situations, for example, when bargaining over trade
    agreements. Trade agreements are often termed “free trade agreements,” but that is a bit of a misnomer.
    Certainly, most trade agreements eliminate tariffs, but if that is all that was involved, the agreement could be
    written on a cocktail napkin. Instead, trade agreements often include restrictions or allowances for subsidies,
    requirement wages, environmental rules, and rules of origin (rules of origin are requirements on the countries
    where intermediate goods in the production process were produced). All of these requirements can move the
    agreement away from free trade.

    This is where game theory and bargaining can play a role. Consider trade between the United States and
    China. China places considerable trade restrictions on imports from the United States, and the United States
    has historically not put many on imports from China. Now, per trade theory, this is still beneficial to the United
    States. That is, the United States still benefits from getting goods produced at a lower cost than companies in
    the United States could produce them. The United States would benefit even more, however, if China did not
    have trade restrictions. China, however, feels they benefit from their trade restrictions (standard economic
    theory would say they do not).

    So how does the United States get China to reduce their trade restrictions?

    One possible approach is to employ trade restrictions against Chinese products. This can be thought of as a
    game of chicken, except where the costs are steeper for China than for the United States. The risk, of course,
    for the United States, is that the costs are actually steeper for the United States.

    There are other factors that can matter for a negotiation as well. You might be familiar with the phrase,
    “Whoever gives a number first, loses.” That would suggest that being a first mover could put a bargainer at a
    disadvantage. This is because moving first reveals information to your opponent that they can use to decide
    the action. Credibility to commit to a position matters too. In a repeated game, if one party cannot credibly
    stick to their position through multiple iterations of a game, then the other party can benefit by simply waiting
    out the other party. In the case of the United States and China, the frequency of elections can be a handicap.
    The Chinese government will likely be in power for the foreseeable future, while any given United States
    administration only has certainty of four years at a time to be in power. Fortunately, you can see a lot of these
    concepts play out in the real world by paying attention to the news.

    **## UnitVStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit V

    At the end of this unit, you should be able to:

    3. Analyze how price and output influence profit maximization under different market structures.
    3.2 Explain how market power affects different types of pricing strategies.

    4. Evaluate strategic pricing decisions.

    4.1 Explain the conditions necessary to price discriminate.

    Required Unit Resources

    Chapter 12: More Realistic and Complex Pricing (ULO 3.2)

    Chapter 13: Direct Price Discrimination (ULO 4.1)

    Chapter 14: Indirect Price Discrimination (ULO 4.1)

    Article: Public Subsidies and the Location and Pricing of Sports
    This article discusses sports subsidies and pricing by analyzing how sports teams make decisions.

    Unit Lesson

    Lesson: Pricing and Greater Profit (ULOs 3.2, 4.1)
    This lesson introduces you to the topics covered in this unit.

    Firms have to answer two important questions: How much of their product should they produce, and how
    much should they charge for their product? The two are certainly linked, but the pricing decision is generally
    more complicated and drives the production decision. In basic economics, price is determined by the
    intersection of supply and demand, with price (P) determined on output determined by marginal revenue (MR)
    equals marginal cost (MC). A pricing strategy given earlier in the course is to set price such that the following
    equation holds:

    In practice, however, pricing strategies often deviate from this standard theory. Sometimes, for example, firms
    have multiple products and this affects their pricing strategies. A firm might want to lower prices to sell more
    of a product, but if the increase in sales in one product simply comes from “stealing” sales from another of
    their products, then this is not really a net gain to the company. Also, owning more brands in a market gives
    the firm more market power, which means raising prices is more profitable. A potential problem with raising
    prices based on newfound market power is that it could attract the attention of the Antitrust Division of the
    Justice Department.

    The question is what to do strategically. A profit improving approach would be to raise the price on whichever
    product has a lower profit margin. With the lower margin product now being relatively more expensive,
    consumers will be more likely to purchase the higher profit margin.

    The preceding strategy is based on the goods being substitutes. If a single producer yields two products that
    are complements, then the profit maximizing action is to reduce the price on both products. By reducing the

    UNIT V STUDY GUIDE
    Pricing and Greater Profit

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    price, the producer increases quantity demanded for one good, but as a result, increases demand for the
    other good. Increasing sales of both products increases total profit.

    Another pricing situation of interest is when producers have fixed capacity (think a cruise ship or concert). In
    these cases, lowering prices to sell more product does not necessarily work because there might not be the
    ability to provide more product. The result might be a situation where MR > MC, contrary to the standard profit
    maximizing rule that MR = MC.

    Promotional pricing is another instance where firms might deviate from the standard pricing rule. Advertising
    can serve two broad goals: promote based on price or promote based on quality. The type of advertising will
    determine the appropriate price strategy. If the advertising focuses on promoting products based on price,
    demand will become more elastic, so lowering price makes sense. If the advertising focuses on promoting
    product quality, the demand will become more inelastic so raising price makes sense. This second point is
    important because price can often convey information about product quality. Promoting product quality and
    lowering price can send conflicting messages to consumers.

    Following in a similar vein of consumers inferring information about a product based on price, consumers
    sometimes have price expectations. Managing price expectations is why businesses will sometimes set a
    “suggested retail price” and then give the price of the product they are selling. The goal is to set a high price
    in the customer’s mind so that they will be happy about the lower price. You might also see producers set a
    low price but end up selling at a higher price or generating revenue some other way. Musicians might set low
    concert prices but then hold back tickets to sell themselves on the secondary market. Sports teams might set
    low prices to build up a fan base but then leverage that popularity to receive government subsidies for
    stadiums. If you would like to learn more about sports subsidies and pricing, you can read the article “Public
    Subsidies and the Location and Pricing of Sports” by Porter and Thomas.

    Price Discrimination

    Up until now, the assumption has been that firms can only charge one price to all of their customers, but
    sometimes firms can charge different prices to different customers. This is called price discrimination.
    Examples of price discrimination are matinee ticket prices for movies and discounts for seniors and military
    members.

    Several criteria must be met for firms to successfully price discriminate. There must be consumers with
    different elasticities, that is different price sensitivity, and firms must be able to identify those different
    customers (consumers with more inelastic demands pay higher prices). As part of that identification, they
    must be able to implement different prices for those customers. Finally, firms must be able to prevent resale.
    If consumers who can buy at low prices are able to turn around and sell to the consumers willing to pay a high
    price, then firms lose their ability to sell to the high price consumers.

    Price discrimination comes in three different categories. First-degree price discrimination, also called perfect
    price discrimination, is when firms are able to charge each consumer their maximum willingness to pay. Car
    sales that involve negotiation are an attempt at first-degree price discrimination. Data mining is a growing tool
    to help firms toward first-degree price discrimination.

    Second-degree price discrimination involves things like volume discounts or frequent customer cards. The
    idea is not to charge different prices to every customer but to allow customers to self-select into different price
    points for the producer to increase profit.

    Third degree price discrimination alters prices based on demographics or other group characteristics. This is
    the category of price discrimination with student or military discounts or movie theaters changing prices by
    time of day.

    Firms can use a variety of ways to identify customers based on their elasticity. Take airline tickets, for
    example. There are certain days of the week to travel when ticket prices are lower, and people can often get
    tickets at a lower price if they purchase their tickets a few weeks in advance. Why? Because airlines are
    attempting to separate the elastic buyers (vacation travelers) from the inelastic buyers (business travelers).
    Who likely plans a trip at least a few weeks in advance? Vacation travelers. Who is more likely to need a

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    ticket on short notice? Business travelers. Who is unlikely to travel over a weekend? Business travelers. Who
    can afford to pay more for their ticket? Business travelers.

    Firms can also sell different versions of a product. Consumers with a high value for a product will likely need
    all of the bells and whistles of the product, but consumers with a low value for a product might only need the
    basic. That is why you might see a “pro” version of software or a “student” or “home” version. Sometimes,
    businesses can separate high use customers, such as printers and ink or razors and razor blades. The cost to
    buy the printer or the razor might be low, but to continue using the product requires ink or razor blades and
    those are sold at a higher markup.

    Firms can also use bundling to extract extra revenue. This strategy led to the value meals at McDonald’s or
    computers with preloaded software. Bundling increases the value of the base product, allowing producers to
    sell the product for a higher price. Customers might also be more inclined to pay a higher price for an all-
    inclusive deal than to pay small amounts to continually add features or products. A similar approach is taken
    with all-inclusive resorts and wrist bands at fairs. There is comfort in knowing that you can pay one price and
    be done with paying.

    Price discrimination sounds bad, largely because of the word discrimination, but it can be beneficial to society.
    When people hear about price discrimination, they often think of charging higher prices to certain consumers,
    but in many cases, it is about lowering prices (coupons, student discounts, matinees, etc.). Since some
    consumers can pay a lower price, that brings them into the market and allows them to benefit from the
    exchange. When looking at value to society, economists generally look at the total amount of exchange that
    occurs. How much the consumer benefits and how much the producer benefits are certainly interesting, but
    ultimately it is the amount of exchange that occurs. With price discrimination, the amount of exchange
    certainly increases, though it does come with more benefit going to producers and less going to consumers.

    Just because producers benefit at the expense of consumers does not mean consumers cannot benefit from
    price discrimination. Take Uber’s surge pricing, for example. Surge pricing is a type of price discrimination.
    People who are going to use an Uber on a busy night, such as Friday or Saturday night are going to pay more
    for an Uber. However, by charging more, Uber also attracts more Uber drivers to work on those busy nights.
    Without these additional drivers, Uber customers looking for an Uber on Friday or Saturday night would likely
    have long waits for an Uber or may not be able to get an Uber at all.

    Similarly, hotels charging higher prices during conferences, sporting events, and even natural disasters
    discourages demand and encourages consumers to be efficient in their consumption. By encouraging efficient
    consumption, there will be more rooms available for other people. Without the higher prices, more people
    would be left out. Certainly, this all works to the benefit of the producers, but it also works to the benefit of the
    consumer, and that is an important feature of price discrimination that should not be overlooked. It is another
    benefit of a free market system. Even if producers are acting in their own best interest, the benefits of those
    self-interested actions help other people.

    Reference

    Porter, P. K., & Thomas, C. R. (2010). Public subsidies and the location and pricing of sports. Southern

    Economic Journal, 76(3), 693–710.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=47776241&site=ehost-live&scope=site

    **## EconomicsforManagersECO6301UnitVIAssignment.docx**

    2

    Economics for Managers ECO 6301

    **Unit VI Assignment**

    This assignment measures your mastery of ULOs 3.2 and 5.1.

    For the Unit VI Assignment, you will complete the
    Unit VI Assignment template by answering the questions using the provided charts. Please note that there are two parts.

    Once complete, upload the assignment template into Blackboard for grading. Outside sources are not a requirement for this assignment.

    **## ECO6301UnitVIAssignmenttemplate.docx**

    **Unit VI Assignment**

    **Instructions: This assignment has two parts. Answer the questions using the charts.**

    **Part 1:**

    ![A four quadrant box is labeled with Firm 1 at the top and Firm 2 on the left. The top left box is labeled high price on the top and high price on the left and contains 8, 8. The top right box is labeled low price on the top and high price on the left with 0, 10. The bottom left box is labeled High price on the top and low price on the left with 10, 0. The bottom right box is labeled Low price on the top and low price on the left with 3, 3.](https://www.sweetstudy.com/questions/eco-6301-vi)

    **Question**: For the above game, identify the Nash Equilibrium. Does Firm 1 have a dominant strategy? If so, what is it? Does Firm 2 have a dominant strategy? If so, what is it?

    **Your response:**

    **Part 2:**

    ![A four quadrant box is labeled with Firm 1 at the top and Firm 2 on the left. The top left box is labeled high price on the top and high price on the left and contains 2,4. The top right box is labeled low price on the top and high price on the left with 3,6. The bottom left box is labeled High price on the top and low price on the left with 4,2. The bottom right box is labeled Low price on the top and low price on the left with 1,5.](https://www.sweetstudy.com/questions/eco-6301-vi)

    **Question:** For the above game, identify the Nash Equilibrium. Does Firm 1 have a dominant strategy? If so, what is it? Does Firm 2 have a dominant strategy? If so, what is it?

    **Your response:**

    ## image1.png

    ## image2.png

    **## UnitIVStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit IV

    At the end of this unit, you should be able to:

    5. Apply game theory to pricing and to output decisions in an oligopoly market.
    5.1 Explain how game theory can lead to fierce competition even with only a few competitors in a

    market.

    6. Analyze the basis of trade.
    6.3 Describe how countries opening to international trade affect the market structure of domestic

    industries.

    Required Unit Resources

    Chapter 11: Foreign Exchange, Trade, and Bubbles (ULO 6.3)

    Chapter 15: Strategic Games (ULO 5.1)

    Chapter 16: Bargaining (ULO 5.1)

    Unit Lesson

    Lesson: International Trade and Strategic Behavior (ULOs 5.1, 6.3)
    This lesson will introduce you to the topics of international trade and strategic behavior that are the focus of
    this unit.

    Trade goes back to the dawn of civilization. As travel has become easier and more accessible, international
    trade has connected regions from across the globe. Unit I introduced the benefits of trade with the Starburst
    example. The same benefits hold when the exchange crosses international borders.

    In the Starburst example, the benefits of trade arose from differences in flavor preferences. Generally
    speaking, the benefits of trade arise from differences in opportunity costs. The opportunity costs are not about
    what we give up when we consume, but what we give up when we produce. That is, there are differences in
    production capabilities between people, regions, and countries. Iowa and Nebraska, for example are well
    equipped for producing corn. Colombia is well equipped for producing coffee. Countries with large populations
    and limited capital are well equipped for producing labor intensive goods. Countries with smaller populations
    but more capital are well equipped for producing capital intensive goods.

    If a Country Can Be Self-Sufficient, Should it Be?

    Even if a country can produce everything it needs, it is still better off trading due to differences in opportunity
    costs. Opportunity costs are the value of what you give up when making a choice. The United States might be
    able to produce bananas, but the resources required to produce enough bananas for the entire population
    could be used to produce other things. Producing enough bananas would take more land. Producing enough
    bananas would likely take more buildings and energy to create the proper tropical climate to grow bananas.
    This would all take resources away from producing corn or cars. The labor required to grow more bananas
    would also take labor away from software development or education. Growing bananas in the United States
    would mean giving up a lot of corn (or cars or software development or education), but producing corn (or
    cars or software or education) would not result in losing much banana production.

    UNIT IV STUDY GUIDE
    International Trade and Strategic Behavior

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    Having a lower opportunity cost to produce a certain good is called having a comparative advantage in that
    good. Basing production on comparative advantage leads to more overall production that can then be traded
    for other goods. In addition to benefiting from a lower opportunity cost, focusing production on specific goods
    also allows for specialization so producers get even better at producing their goods. By specializing, people
    get better at their tasks and also have time to develop new and better ways of producing. If people are trying
    to produce multiple things, they cannot put the same level of attention into improving specific processes. You
    might be familiar with the phrase “a jack of all trades, but a master of none.” That is what happens without
    specialization.

    Despite the benefits of trade, fear of international trade is common. There are concerns that jobs are lost to
    foreign competition. Certainly, there are specific jobs that will no longer be needed domestically. If the United
    States, for example, had been self-sufficiently producing bananas and then opened up to international trade
    and started importing bananas, jobs in the banana production market would no longer be needed. That does
    not mean, however, that overall jobs are lost to international trade. Jobs are gained from the ability to export
    goods. Jobs are also gained because the resources that were previously used to grow bananas can now be
    used to produce other goods. Also, the lower prices for bananas enable consumers to redirect their spending
    to other goods.

    Trade Protection

    What you might have picked up from the example of the bananas is that despite the benefits of trade, banana
    producers would still have a strong incentive to prevent competition from foreign banana producers. Banana
    producers then have an incentive to lobby the government for protection from foreign competition. This
    protection usually comes in the form of tariffs (there are other forms of trade protection, such as quotas, but
    tariffs are by far the most common).

    Tariffs are in the news a lot, particularly between China and the United States in 2019. Basic economic theory
    tells us that tariffs are simply passed on to consumers. This is not, however, what we necessarily see in
    practice. Elasticity is an important determinant in tax incidence (that is, who bears the burden of a tax). Tax
    incidence is determined by the relative elasticities between supply and demand. From a trade perspective,
    exchange rates can serve as a way for countries to absorb the tariff without having to raise their prices. China
    lets their currency depreciate to keep the prices of their products the same. When this happens, anybody
    holding Chinese currency essentially pays the tariff. Of course, that does not mean there are not costs to the
    United States from assessing tariffs. When China devalues their currency, U.S. produced goods become
    more expensive in China, so quantity demanded for U.S. exports goes down. Ultimately, both countries bear
    some of the burden from tariffs.

    So why assess tariffs? The most obvious reason is as described above: to help domestic interest groups.
    There can be other reasons, however, and to see that, we have to introduce some game theory.

    Game Theory

    Game theory is applied to decision-making where one party’s actions affect another party’s outcome. Game
    theory is not applicable to perfectly competitive markets because individual producers cannot affect the
    market outcome. Game theory is not applicable to monopoly because there is only one producer in a
    monopoly. Game theory is applicable to oligopolies where there are a handful of producers; so what one
    producer does affects the other producers.

    If Coke, for example, comes out with a new product, that new product will likely affect Pepsi and Dr Pepper.
    If Coke changes their price or embarks on a new marketing campaign, Pepsi and Dr Pepper will likely be
    affected. Pepsi and Dr Pepper, thus, need to decide how they will respond to Coke’s actions. Coke will also
    need to anticipate Pepsi and Dr Pepper’s response when deciding the action they take (you can think of it
    like the Battle of Wits from The Princess Bride). The optimal strategy for a “game” is determined by
    evaluating likely strategies by opponents and expected outcomes. Optimal strategies can also be affected
    by the structure of a game. Some games are sequential, where one player makes a decision and then the
    other player makes a decision in response to the first player’s decision. Other games are simultaneous
    where players make their decision at the same time. Ultimately, the outcome of a game is driven by the
    likely outcomes.

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    Game theory can also be applied to bargaining situations, for example, when bargaining over trade
    agreements. Trade agreements are often termed “free trade agreements,” but that is a bit of a misnomer.
    Certainly, most trade agreements eliminate tariffs, but if that is all that was involved, the agreement could be
    written on a cocktail napkin. Instead, trade agreements often include restrictions or allowances for subsidies,
    requirement wages, environmental rules, and rules of origin (rules of origin are requirements on the countries
    where intermediate goods in the production process were produced). All of these requirements can move the
    agreement away from free trade.

    This is where game theory and bargaining can play a role. Consider trade between the United States and
    China. China places considerable trade restrictions on imports from the United States, and the United States
    has historically not put many on imports from China. Now, per trade theory, this is still beneficial to the United
    States. That is, the United States still benefits from getting goods produced at a lower cost than companies in
    the United States could produce them. The United States would benefit even more, however, if China did not
    have trade restrictions. China, however, feels they benefit from their trade restrictions (standard economic
    theory would say they do not).

    So how does the United States get China to reduce their trade restrictions?

    One possible approach is to employ trade restrictions against Chinese products. This can be thought of as a
    game of chicken, except where the costs are steeper for China than for the United States. The risk, of course,
    for the United States, is that the costs are actually steeper for the United States.

    There are other factors that can matter for a negotiation as well. You might be familiar with the phrase,
    “Whoever gives a number first, loses.” That would suggest that being a first mover could put a bargainer at a
    disadvantage. This is because moving first reveals information to your opponent that they can use to decide
    the action. Credibility to commit to a position matters too. In a repeated game, if one party cannot credibly
    stick to their position through multiple iterations of a game, then the other party can benefit by simply waiting
    out the other party. In the case of the United States and China, the frequency of elections can be a handicap.
    The Chinese government will likely be in power for the foreseeable future, while any given United States
    administration only has certainty of four years at a time to be in power. Fortunately, you can see a lot of these
    concepts play out in the real world by paying attention to the news.

    **## UnitVStudyGuide.pdf**

    ECO 6301, Economics for Managers 1

    Course Learning Outcomes for Unit V

    At the end of this unit, you should be able to:

    3. Analyze how price and output influence profit maximization under different market structures.
    3.2 Explain how market power affects different types of pricing strategies.

    4. Evaluate strategic pricing decisions.

    4.1 Explain the conditions necessary to price discriminate.

    Required Unit Resources

    Chapter 12: More Realistic and Complex Pricing (ULO 3.2)

    Chapter 13: Direct Price Discrimination (ULO 4.1)

    Chapter 14: Indirect Price Discrimination (ULO 4.1)

    Article: Public Subsidies and the Location and Pricing of Sports
    This article discusses sports subsidies and pricing by analyzing how sports teams make decisions.

    Unit Lesson

    Lesson: Pricing and Greater Profit (ULOs 3.2, 4.1)
    This lesson introduces you to the topics covered in this unit.

    Firms have to answer two important questions: How much of their product should they produce, and how
    much should they charge for their product? The two are certainly linked, but the pricing decision is generally
    more complicated and drives the production decision. In basic economics, price is determined by the
    intersection of supply and demand, with price (P) determined on output determined by marginal revenue (MR)
    equals marginal cost (MC). A pricing strategy given earlier in the course is to set price such that the following
    equation holds:

    In practice, however, pricing strategies often deviate from this standard theory. Sometimes, for example, firms
    have multiple products and this affects their pricing strategies. A firm might want to lower prices to sell more
    of a product, but if the increase in sales in one product simply comes from “stealing” sales from another of
    their products, then this is not really a net gain to the company. Also, owning more brands in a market gives
    the firm more market power, which means raising prices is more profitable. A potential problem with raising
    prices based on newfound market power is that it could attract the attention of the Antitrust Division of the
    Justice Department.

    The question is what to do strategically. A profit improving approach would be to raise the price on whichever
    product has a lower profit margin. With the lower margin product now being relatively more expensive,
    consumers will be more likely to purchase the higher profit margin.

    The preceding strategy is based on the goods being substitutes. If a single producer yields two products that
    are complements, then the profit maximizing action is to reduce the price on both products. By reducing the

    UNIT V STUDY GUIDE
    Pricing and Greater Profit

    ECO 6301, Economics for Managers 2

    UNIT x STUDY GUIDE
    Title

    price, the producer increases quantity demanded for one good, but as a result, increases demand for the
    other good. Increasing sales of both products increases total profit.

    Another pricing situation of interest is when producers have fixed capacity (think a cruise ship or concert). In
    these cases, lowering prices to sell more product does not necessarily work because there might not be the
    ability to provide more product. The result might be a situation where MR > MC, contrary to the standard profit
    maximizing rule that MR = MC.

    Promotional pricing is another instance where firms might deviate from the standard pricing rule. Advertising
    can serve two broad goals: promote based on price or promote based on quality. The type of advertising will
    determine the appropriate price strategy. If the advertising focuses on promoting products based on price,
    demand will become more elastic, so lowering price makes sense. If the advertising focuses on promoting
    product quality, the demand will become more inelastic so raising price makes sense. This second point is
    important because price can often convey information about product quality. Promoting product quality and
    lowering price can send conflicting messages to consumers.

    Following in a similar vein of consumers inferring information about a product based on price, consumers
    sometimes have price expectations. Managing price expectations is why businesses will sometimes set a
    “suggested retail price” and then give the price of the product they are selling. The goal is to set a high price
    in the customer’s mind so that they will be happy about the lower price. You might also see producers set a
    low price but end up selling at a higher price or generating revenue some other way. Musicians might set low
    concert prices but then hold back tickets to sell themselves on the secondary market. Sports teams might set
    low prices to build up a fan base but then leverage that popularity to receive government subsidies for
    stadiums. If you would like to learn more about sports subsidies and pricing, you can read the article “Public
    Subsidies and the Location and Pricing of Sports” by Porter and Thomas.

    Price Discrimination

    Up until now, the assumption has been that firms can only charge one price to all of their customers, but
    sometimes firms can charge different prices to different customers. This is called price discrimination.
    Examples of price discrimination are matinee ticket prices for movies and discounts for seniors and military
    members.

    Several criteria must be met for firms to successfully price discriminate. There must be consumers with
    different elasticities, that is different price sensitivity, and firms must be able to identify those different
    customers (consumers with more inelastic demands pay higher prices). As part of that identification, they
    must be able to implement different prices for those customers. Finally, firms must be able to prevent resale.
    If consumers who can buy at low prices are able to turn around and sell to the consumers willing to pay a high
    price, then firms lose their ability to sell to the high price consumers.

    Price discrimination comes in three different categories. First-degree price discrimination, also called perfect
    price discrimination, is when firms are able to charge each consumer their maximum willingness to pay. Car
    sales that involve negotiation are an attempt at first-degree price discrimination. Data mining is a growing tool
    to help firms toward first-degree price discrimination.

    Second-degree price discrimination involves things like volume discounts or frequent customer cards. The
    idea is not to charge different prices to every customer but to allow customers to self-select into different price
    points for the producer to increase profit.

    Third degree price discrimination alters prices based on demographics or other group characteristics. This is
    the category of price discrimination with student or military discounts or movie theaters changing prices by
    time of day.

    Firms can use a variety of ways to identify customers based on their elasticity. Take airline tickets, for
    example. There are certain days of the week to travel when ticket prices are lower, and people can often get
    tickets at a lower price if they purchase their tickets a few weeks in advance. Why? Because airlines are
    attempting to separate the elastic buyers (vacation travelers) from the inelastic buyers (business travelers).
    Who likely plans a trip at least a few weeks in advance? Vacation travelers. Who is more likely to need a

    ECO 6301, Economics for Managers 3

    UNIT x STUDY GUIDE
    Title

    ticket on short notice? Business travelers. Who is unlikely to travel over a weekend? Business travelers. Who
    can afford to pay more for their ticket? Business travelers.

    Firms can also sell different versions of a product. Consumers with a high value for a product will likely need
    all of the bells and whistles of the product, but consumers with a low value for a product might only need the
    basic. That is why you might see a “pro” version of software or a “student” or “home” version. Sometimes,
    businesses can separate high use customers, such as printers and ink or razors and razor blades. The cost to
    buy the printer or the razor might be low, but to continue using the product requires ink or razor blades and
    those are sold at a higher markup.

    Firms can also use bundling to extract extra revenue. This strategy led to the value meals at McDonald’s or
    computers with preloaded software. Bundling increases the value of the base product, allowing producers to
    sell the product for a higher price. Customers might also be more inclined to pay a higher price for an all-
    inclusive deal than to pay small amounts to continually add features or products. A similar approach is taken
    with all-inclusive resorts and wrist bands at fairs. There is comfort in knowing that you can pay one price and
    be done with paying.

    Price discrimination sounds bad, largely because of the word discrimination, but it can be beneficial to society.
    When people hear about price discrimination, they often think of charging higher prices to certain consumers,
    but in many cases, it is about lowering prices (coupons, student discounts, matinees, etc.). Since some
    consumers can pay a lower price, that brings them into the market and allows them to benefit from the
    exchange. When looking at value to society, economists generally look at the total amount of exchange that
    occurs. How much the consumer benefits and how much the producer benefits are certainly interesting, but
    ultimately it is the amount of exchange that occurs. With price discrimination, the amount of exchange
    certainly increases, though it does come with more benefit going to producers and less going to consumers.

    Just because producers benefit at the expense of consumers does not mean consumers cannot benefit from
    price discrimination. Take Uber’s surge pricing, for example. Surge pricing is a type of price discrimination.
    People who are going to use an Uber on a busy night, such as Friday or Saturday night are going to pay more
    for an Uber. However, by charging more, Uber also attracts more Uber drivers to work on those busy nights.
    Without these additional drivers, Uber customers looking for an Uber on Friday or Saturday night would likely
    have long waits for an Uber or may not be able to get an Uber at all.

    Similarly, hotels charging higher prices during conferences, sporting events, and even natural disasters
    discourages demand and encourages consumers to be efficient in their consumption. By encouraging efficient
    consumption, there will be more rooms available for other people. Without the higher prices, more people
    would be left out. Certainly, this all works to the benefit of the producers, but it also works to the benefit of the
    consumer, and that is an important feature of price discrimination that should not be overlooked. It is another
    benefit of a free market system. Even if producers are acting in their own best interest, the benefits of those
    self-interested actions help other people.

    Reference

    Porter, P. K., & Thomas, C. R. (2010). Public subsidies and the location and pricing of sports. Southern

    Economic Journal, 76(3), 693–710.
    https://libraryresources.columbiasouthern.edu/login?url=http://search.ebscohost.com/login.aspx?direc
    t=true&db=bsu&AN=47776241&site=ehost-live&scope=site

    – 1
    – 2
    – 3
    – 4

  • [Solved] Business Finance – Management A-Bible and Organizations Assignment

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    Executive Solution Overview

    OVERVIEW The Word of God instructs us “Whatever you do, work at it with all your heart, as working for the Lord, not for human masters, since you know that you will receive an inheritance from the Lord as a reward. It is the Lord Christ you are serving” (New International Version, 1973/2011, Colossi…

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    OVERVIEW
    The Word of God instructs us “Whatever you do, work at it with all your heart, as working for
    the Lord, not for human masters, since you know that you will receive an inheritance from the
    Lord as a reward. It is the Lord Christ you are serving” (New International Version, 1973/2011,
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    ### Administrative Law ### [WLO: 3] [CLOs: 1, 2, 3, 4] [NACE: 1, 2, 3, 4, 5, 6] Prior to beginning work on this assignment, review Chapter 5 in your textbook and other administrative law resources. This includes [_U.S. Food and Drug Administration_](https://www.fda.gov/) and [_Federal Trade Co…

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    ### Administrative Law
    ### [WLO: 3] [CLOs: 1, 2, 3, 4] [NACE: 1, 2, 3, 4, 5, 6]
    Prior to beginning work on this assignment, review Chapter 5 in your textbook and other administrative law resources. This includes [_U.S. Food and Drug Administration_](https://www.fda.gov/) and [_Federal Trade Commission_](https://www.ftc.gov/) websites.
    You will also need to seek at least two other research sources for this assignment, which is as follows:
    One of the key areas of business law is the regulation of commercial activities by administrative agencies. In fact, there are so many aspects of a business that are subject to administrative rules and regulations that it is nearly impossible to operate an organization without considering how decision-making would be impacted by these.
    Two of the most powerful administrative agencies that regulate business are the Food and Drug Administration (FDA) and the Federal Trade Commission (FTC).
    In your paper,
    – Explain the primary purpose of the agency (either the FDA or the FTC).
    – Describe in some detail three (3) different functions that the agency performs in the regulation of a business or industry.
    – Describe three (3) legal cases that the agency has been involved in. You should be able to find these on the agency website. The [Nexis Uni](https://go.openathens.net/redirector/ashford.edu?url=http://www.nexisuni.com "Link") database would also offer another source of research for this purpose.
    – Analyze whether the agency unduly burdens (restricts) or provides adequate protection to business or industry. Note that the answer to these questions might make for an effective thesis statement for this assignment.
    The Administrative Law paper
    – must be 4 to 5 double-spaced pages in length (not including title and references pages) and formatted according to [_APA Style_](https://writingcenter.uagc.edu/apa-style) as outlined in the Writing Center’s [_APA Formatting for Microsoft Word_](https://writingcenter.uagc.edu/apa-formatting-microsoft-word) resource.
    – must include a separate title page with the following in title case:
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    – Your introduction paragraph needs to end with a clear thesis statement that indicates the purpose of your paper.
    – For assistance on writing [_Introductions & Conclusions_](https://writingcenter.uagc.edu/introductions-conclusions) and [_Writing a Thesis Statement_](https://writingcenter.uagc.edu/writing-a-thesis), refer to the Writing Center resources.
    – must use APA Level Headings, found on the Writing Center’s [_APA Style Elements_](https://writingcenter.uagc.edu/apa-style-elements) page.
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    \
    BUS670_chapter05.pdf](https://www.sweetstudy.com/files/bus670-chapter05-pdf-10362507 "BUS670_chapter05.pdf")

  • [Solved] Business Finance – Management Quest Assignment

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    Please see attached. It lays out all the requirements. – ## Adventure3.TheQualityQuestSeekerDirectionsUpdated.pdf **## Adventure3.TheQualityQuestSeekerDirectionsUpdated.pdf** Odyssey Adventure 3: The Quality Quest Seeker Odyssey Adventure 3: The Quality Quest Seeker Overview & Instructions Adventure…

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    Please see attached. It lays out all the requirements.

    – ## Adventure3.TheQualityQuestSeekerDirectionsUpdated.pdf

    **## Adventure3.TheQualityQuestSeekerDirectionsUpdated.pdf**

    Odyssey Adventure 3: The Quality Quest Seeker

    Odyssey Adventure 3: The Quality Quest Seeker Overview & Instructions

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    driven decisions within the realm of healthcare intelligence. Your mission is to explore and analyze a healthcare

    intelligence tool that holds the potential to revolutionize quality improvement and drive positive outcomes.

    Instructions: As the Quality Quest Seeker, you will construct a one-page report with an illustration that provides

    a visualization that demonstrates the significance of data in terms of quality, technology, research, and outcomes

    for informed decision-making processes for your personalized healthcare scenario.

    • Report and Illustration Content Requirements:

    • Address Reporting Requirements 1, 2, 3, and 4.

    • All aspects of the report and illustration apply to your personalized healthcare scenario and/or your

    healthcare ecosystem design.

    • Include a simple and clear visualization that complements and enhances the insights presented in the

    report.

    • Must be your own work. Images or copying of such images or illustrations is prohibited.

    • Formatting and References:

    • Length: One (1) Page (Minimum)

    • Report Format: Microsoft Word

    • Illustration Format: Microsoft Word or PDF format. If the visualization is created outside of Word,

    convert the final document to PDF format before submission.

    • APA 7th Edition Style: Title Page, Report, Illustration, Reference Page, References, and Citations.

    • Sources: Three (3) Credible and/or Scholarly Sources from the last five years unless seminal works.

    • Evidence: Support all aspects of your report and illustration with evidence applying in-text citations

    to validate the information presented.

    Tip – Awaken your inner Quality Quest Seeker and unlock the hidden treasures of the ECOS Healthcare

    Intelligence Vault. Sail onwards towards an exhilarating journey of exploration, delving deep into the realm of

    healthcare intelligence to unveil valuable insights and decipher the mysteries that lie within. With your key in

    hand, embrace the adventure with a spirit of curiosity, unearthing the hidden gems that await your discovery.

    Scroll down to read Reporting Requirements 1, 2, 3, and 4.

    Odyssey Adventure 3: The Quality Quest Seeker

    Reporting Requirement 1. Healthcare Intelligence Tool Information

    Choose (1) of the following specific healthcare intelligence tools to analyze in your report that could be

    applied to your personalized healthcare scenario and your healthcare ecosystem design in terms of quality,

    outcomes, and performance. Locate two (2) credible and/or scholarly sources for your chosen tool from the

    UMGC Library, Google Scholar, recent credible healthcare publications, and/or recent credible healthcare that

    can be analyzed in the report. Examples of Healthcare Intelligence Tools:

    a) Tableau

    b) Microsoft Power BI

    c) Precision BI

    d) Google Analytics

    e) Qlik Sense

    f) Altair

    g) Domo

    Include the information below for Reporting Requirement 1.

    Provide the Following for Reporting Requirement 1. Data Information:

    1A. Name of Healthcare Intelligence Tool Selected

    1B. Title and Website Link of Source 1 (Must be a working URL (link) for verification)

    1C. Title and Website Link of Source 2 (Must be a working URL (link) for verification)

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    your personalized healthcare scenario and ecosystem design. Include the information below for Reporting

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    Provide the Following for Reporting Requirement 2. Data Insights:

    2A. Data Analysis Summary: Summarize how your healthcare intelligence tool could be applied in your

    personalized healthcare scenario in terms of your primary healthcare setting, your primary project

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    discoveries that relate to quality, outcomes, and/or performance that could be applied to your primary

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    and/or similar data analysis insights that could influence your primary healthcare setting.

    2C. Two (2) Data Analysis Examples – Your Primary Project (BIP/BIP Sub-Industry): Identify two data

    analysis discoveries that relate to quality, outcomes, and/or performance that could be applied to your

    primary healthcare setting. Explain why these data points could be meaningful to your primary project

    (BIP/BIP Sub-Industry).

    Odyssey Adventure 3: The Quality Quest Seeker

    Reporting Requirement 3. Informed Decision-Making and Recommendations

    Data-Driven information for informed decision-making with recommendations. Explain two ways this

    data can support the decision-making processes for your personalized healthcare scenario and ecosystem

    design. Provide two specific recommendations for leveraging this data that could positively influence the

    performance, effectiveness, quality, and outcomes of your healthcare ecosystem design. Include the

    information below for Reporting Requirement 3.

    Provide the Following for Reporting Requirement 3. Informed Decision-Making and Recommendations:

    3A. Two (2) Data-Driven Actions for Informed Decision-Making: Explain two (2) ways this emerging

    technology can aid decision-making in your primary healthcare setting and ecosystem design.

    3B. Two (2) Specific Ecosystem Recommendations: Propose two (2) specific recommendations for

    leveraging this emerging technology to enhance the performance and effectiveness of your healthcare

    ecosystem design in terms of quality, technology, and sustainable outcomes.

    Instructional Guidance – Reporting Requirement 3. Informed Decision-Making and Recommendations:

    Interpret the results of your analysis, critically think about the discoveries, and how this information may help

    healthcare administrators in using data to make informed decisions. Determine the type of recommendations

    that could be provided to leverage the data in ways that allow for enhanced performance, improved quality of

    care delivery, and sustainable outcomes within your healthcare ecosystem.

    Reporting Requirement 4. Data Visualization: Create an illustration that is a simple and clear data

    visualization. The information presented should complement and enhance the insights presented in the report.

    The illustration should effectively convey the key findings and trends from the data analysis that are directly

    associated with your personalized healthcare scenario. Include the information below for Reporting

    Requirement 4.

    Provide the Following for Reporting Requirement 4. Data Visualization:

    4A. One (1) Data Visualization: Create one data visualization that represents the findings and insights

    inferred from your analysis. Examples: Charts, graphs, infographics, etc.

    4B. Your Primary Healthcare Setting – Must be Displayed (Specific details such as name, type, location,

    etc.)

    4C. Your Primary Project – Must be Displayed (Specific details such as the BIP type, BIP-Sub-Industry,

    etc.)

    4D. Two (2) Key Findings (Specific key findings associated with your personalized healthcare scenario.)

    Instructional Guidance – Reporting Requirement 3. Data Information:

    Create a simple visualization of the data that relates to your personalized healthcare scenario and/or healthcare

    ecosystem design. Consider the connections that you discovered from your analysis that can visually represent

    key aspects and findings. The illustration must include your personalized healthcare scenario details, such as

    the name of your organization and/or the information for your primary project, such as the BIP Sub-Industry

    details. The data visualization must be your own work and creation. Students are prohibited from using other

    authors’ or other publications’ images, illustrations, and/or visual graphics.

    **## Adventure3.TheQualityQuestSeekerDirectionsUpdated.pdf**

    Odyssey Adventure 3: The Quality Quest Seeker

    Odyssey Adventure 3: The Quality Quest Seeker Overview & Instructions

    Adventure Overview: Set out as a Quality Quest Seeker to uncover the hidden treasures of quality and data-

    driven decisions within the realm of healthcare intelligence. Your mission is to explore and analyze a healthcare

    intelligence tool that holds the potential to revolutionize quality improvement and drive positive outcomes.

    Instructions: As the Quality Quest Seeker, you will construct a one-page report with an illustration that provides

    a visualization that demonstrates the significance of data in terms of quality, technology, research, and outcomes

    for informed decision-making processes for your personalized healthcare scenario.

    • Report and Illustration Content Requirements:

    • Address Reporting Requirements 1, 2, 3, and 4.

    • All aspects of the report and illustration apply to your personalized healthcare scenario and/or your

    healthcare ecosystem design.

    • Include a simple and clear visualization that complements and enhances the insights presented in the

    report.

    • Must be your own work. Images or copying of such images or illustrations is prohibited.

    • Formatting and References:

    • Length: One (1) Page (Minimum)

    • Report Format: Microsoft Word

    • Illustration Format: Microsoft Word or PDF format. If the visualization is created outside of Word,

    convert the final document to PDF format before submission.

    • APA 7th Edition Style: Title Page, Report, Illustration, Reference Page, References, and Citations.

    • Sources: Three (3) Credible and/or Scholarly Sources from the last five years unless seminal works.

    • Evidence: Support all aspects of your report and illustration with evidence applying in-text citations

    to validate the information presented.

    Tip – Awaken your inner Quality Quest Seeker and unlock the hidden treasures of the ECOS Healthcare

    Intelligence Vault. Sail onwards towards an exhilarating journey of exploration, delving deep into the realm of

    healthcare intelligence to unveil valuable insights and decipher the mysteries that lie within. With your key in

    hand, embrace the adventure with a spirit of curiosity, unearthing the hidden gems that await your discovery.

    Scroll down to read Reporting Requirements 1, 2, 3, and 4.

    Odyssey Adventure 3: The Quality Quest Seeker

    Reporting Requirement 1. Healthcare Intelligence Tool Information

    Choose (1) of the following specific healthcare intelligence tools to analyze in your report that could be

    applied to your personalized healthcare scenario and your healthcare ecosystem design in terms of quality,

    outcomes, and performance. Locate two (2) credible and/or scholarly sources for your chosen tool from the

    UMGC Library, Google Scholar, recent credible healthcare publications, and/or recent credible healthcare that

    can be analyzed in the report. Examples of Healthcare Intelligence Tools:

    a) Tableau

    b) Microsoft Power BI

    c) Precision BI

    d) Google Analytics

    e) Qlik Sense

    f) Altair

    g) Domo

    Include the information below for Reporting Requirement 1.

    Provide the Following for Reporting Requirement 1. Data Information:

    1A. Name of Healthcare Intelligence Tool Selected

    1B. Title and Website Link of Source 1 (Must be a working URL (link) for verification)

    1C. Title and Website Link of Source 2 (Must be a working URL (link) for verification)

    Reporting Requirement 2. Data Insights

    Analyze the information from your two selected sources. Provide meaningful insights and implications for

    your personalized healthcare scenario and ecosystem design. Include the information below for Reporting

    Requirement 2.

    Provide the Following for Reporting Requirement 2. Data Insights:

    2A. Data Analysis Summary: Summarize how your healthcare intelligence tool could be applied in your

    personalized healthcare scenario in terms of your primary healthcare setting, your primary project

    (BIP/BIP Sub-Industry), and your ecosystem design.

    2B. Two (2) Data Analysis Examples – Your Primary Healthcare Setting: Identify two data analysis

    discoveries that relate to quality, outcomes, and/or performance that could be applied to your primary

    healthcare setting. Explain the significance of each data point in terms of trends, patterns, correlations,

    and/or similar data analysis insights that could influence your primary healthcare setting.

    2C. Two (2) Data Analysis Examples – Your Primary Project (BIP/BIP Sub-Industry): Identify two data

    analysis discoveries that relate to quality, outcomes, and/or performance that could be applied to your

    primary healthcare setting. Explain why these data points could be meaningful to your primary project

    (BIP/BIP Sub-Industry).

    Odyssey Adventure 3: The Quality Quest Seeker

    Reporting Requirement 3. Informed Decision-Making and Recommendations

    Data-Driven information for informed decision-making with recommendations. Explain two ways this

    data can support the decision-making processes for your personalized healthcare scenario and ecosystem

    design. Provide two specific recommendations for leveraging this data that could positively influence the

    performance, effectiveness, quality, and outcomes of your healthcare ecosystem design. Include the

    information below for Reporting Requirement 3.

    Provide the Following for Reporting Requirement 3. Informed Decision-Making and Recommendations:

    3A. Two (2) Data-Driven Actions for Informed Decision-Making: Explain two (2) ways this emerging

    technology can aid decision-making in your primary healthcare setting and ecosystem design.

    3B. Two (2) Specific Ecosystem Recommendations: Propose two (2) specific recommendations for

    leveraging this emerging technology to enhance the performance and effectiveness of your healthcare

    ecosystem design in terms of quality, technology, and sustainable outcomes.

    Instructional Guidance – Reporting Requirement 3. Informed Decision-Making and Recommendations:

    Interpret the results of your analysis, critically think about the discoveries, and how this information may help

    healthcare administrators in using data to make informed decisions. Determine the type of recommendations

    that could be provided to leverage the data in ways that allow for enhanced performance, improved quality of

    care delivery, and sustainable outcomes within your healthcare ecosystem.

    Reporting Requirement 4. Data Visualization: Create an illustration that is a simple and clear data

    visualization. The information presented should complement and enhance the insights presented in the report.

    The illustration should effectively convey the key findings and trends from the data analysis that are directly

    associated with your personalized healthcare scenario. Include the information below for Reporting

    Requirement 4.

    Provide the Following for Reporting Requirement 4. Data Visualization:

    4A. One (1) Data Visualization: Create one data visualization that represents the findings and insights

    inferred from your analysis. Examples: Charts, graphs, infographics, etc.

    4B. Your Primary Healthcare Setting – Must be Displayed (Specific details such as name, type, location,

    etc.)

    4C. Your Primary Project – Must be Displayed (Specific details such as the BIP type, BIP-Sub-Industry,

    etc.)

    4D. Two (2) Key Findings (Specific key findings associated with your personalized healthcare scenario.)

    Instructional Guidance – Reporting Requirement 3. Data Information:

    Create a simple visualization of the data that relates to your personalized healthcare scenario and/or healthcare

    ecosystem design. Consider the connections that you discovered from your analysis that can visually represent

    key aspects and findings. The illustration must include your personalized healthcare scenario details, such as

    the name of your organization and/or the information for your primary project, such as the BIP Sub-Industry

    details. The data visualization must be your own work and creation. Students are prohibited from using other

    authors’ or other publications’ images, illustrations, and/or visual graphics.

  • [Solved] W4

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    see attached – ## PROJ_Project_Sample.mpp – ## Instruction.docx **## PROJ_Project_Sample.mpp** [removed] **## Instruction.docx** **Instructions** Examine the sample project and interpret your decision points using schedule compression techniques, such as resource leveling, fast tracking, overt…

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    Assignment Prompt & Instructions

    see attached

    – ## PROJ_Project_Sample.mpp

    – ## Instruction.docx

    **## PROJ_Project_Sample.mpp**

    [removed]

    **## Instruction.docx**

    **Instructions**

    Examine the sample project and interpret your decision points using schedule compression techniques, such as resource leveling, fast tracking, overtime, or crashing. In a Word document, answer the following questions.

    1. How do you see the schedule health per SV? What would you recommend? (Approximately 200 words, 40 points)

    2. How do you see the cost and budget health per CV? What would you recommend? (Approximately 200 words, 40 points)

    3. What are the benefits of using indices (SPI/CPI) compared to variances (SV/CV)? (Approximately 100 words, 20 points)

    **## Instruction.docx**

    **Instructions**

    Examine the sample project and interpret your decision points using schedule compression techniques, such as resource leveling, fast tracking, overtime, or crashing. In a Word document, answer the following questions.

    1. How do you see the schedule health per SV? What would you recommend? (Approximately 200 words, 40 points)

    2. How do you see the cost and budget health per CV? What would you recommend? (Approximately 200 words, 40 points)

    3. What are the benefits of using indices (SPI/CPI) compared to variances (SV/CV)? (Approximately 100 words, 20 points)

    **## PROJ_Project_Sample.mpp**

    [removed]

    **## Instruction.docx**

    **Instructions**

    Examine the sample project and interpret your decision points using schedule compression techniques, such as resource leveling, fast tracking, overtime, or crashing. In a Word document, answer the following questions.

    1. How do you see the schedule health per SV? What would you recommend? (Approximately 200 words, 40 points)

    2. How do you see the cost and budget health per CV? What would you recommend? (Approximately 200 words, 40 points)

    3. What are the benefits of using indices (SPI/CPI) compared to variances (SV/CV)? (Approximately 100 words, 20 points)

    **## PROJ_Project_Sample.mpp**

    [removed]

    **## Instruction.docx**

    **Instructions**

    Examine the sample project and interpret your decision points using schedule compression techniques, such as resource leveling, fast tracking, overtime, or crashing. In a Word document, answer the following questions.

    1. How do you see the schedule health per SV? What would you recommend? (Approximately 200 words, 40 points)

    2. How do you see the cost and budget health per CV? What would you recommend? (Approximately 200 words, 40 points)

    3. What are the benefits of using indices (SPI/CPI) compared to variances (SV/CV)? (Approximately 100 words, 20 points)

    – 1
    – 2

  • [Solved] Business Finance – Management Week 9 assignment- Improving Business Performance

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    **System Thinking for Good, Part 2** This week, you will return to the business report you began working on in Week 8. As a reminder, you have assumed the role of a consultant who has been asked by the upper management team to evaluate an organizational performance problem within an organization. Yo…

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    Assignment Prompt & Instructions

    **System Thinking for Good, Part 2**
    This week, you will return to the business report you began working on in Week 8. As a reminder, you have assumed the role of a consultant who has been asked by the upper management team to evaluate an organizational performance problem within an organization. You will present your findings in the form of a written report with an executive summary presented as a PowerPoint presentation. The organization for this evaluation is one that you selected and with which you are very familiar. You will continue your business report using that selected organization.
    As you complete Part 2 of your business report, remember to include specific examples from the organization as well as relevant citations from the Learning Resources, the Walden Library, and/or other appropriate academic sources to support your evaluation.
    **To prepare for this Assignment:**
    · Return to the same business report template you utilized in Week 8. With the research and readings from Week 8 and Week 9 in mind, incorporate any feedback, as needed, into your report as you complete Part 2.
    Part 2 of your business report, to include the following:
    **Part 2: Social Responsibility and Ethical Considerations (2–3 pages)**
    · Identify the major stakeholders of the organization. Illustrate how the organization’s actions do or do not affect positive social change for the stakeholders (explain in detail).
    · Through a system thinking lens, apply improvements to the organization to positively affect social change.
    · From a systems perspective, evaluate the organization’s performance in terms of diversity and inclusion.
    · Assess whether there is a relationship between ethics and inclusion (explain and substantiate your position). Recommend what improvements can be implemented to positively impact both.
    \
    Week9LearningResources-ImprovingBusinessPerformance.docx](https://www.sweetstudy.com/files/week9learningresources-improvingbusinessperformance-docx-10358113 "Week9LearningResources-ImprovingBusinessPerformance.docx")
    \
    Week9Discussion-ImprovingBusinessPerformance.docx](https://www.sweetstudy.com/files/week9discussion-improvingbusinessperformance-docx-10358115 "Week9Discussion-ImprovingBusinessPerformance.docx")
    \
    Week8Assignment-ApprovingBusinessPerformance.docx](https://www.sweetstudy.com/files/week8assignment-approvingbusinessperformance-docx-10358117 "Week8Assignment-ApprovingBusinessPerformance.docx")

  • [Solved] Strategic healthcare planing 3

    ✓ Verified Academic Solution Available

    Executive Solution Overview

    **Assessment 3** **Developing and Communicating the Strategic Action Plan** Create an 8-10 slide PowerPoint presentation for an executive audience that outlines an action plan your selected organization will use to achieve its strategic goals and communicate the plan to stakeholders. You will record…

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    Assignment Prompt & Instructions

    **Assessment 3**
    **Developing and Communicating the Strategic Action Plan**
    Create an 8-10 slide PowerPoint presentation for an executive audience that outlines an action plan your selected organization will use to achieve its strategic goals and communicate the plan to stakeholders. You will record yourself presenting the slides in an audio or video recording of 5 minutes or less in length.
    ## **Introduction**
    **Note:** Each assessment in this course builds upon the work you have completed in previous assessments. Therefore, you must complete the assessments in the order they are presented.
    In your previous assessments, you examined how today's health care organizations prepare themselves for the present and the future through strategic management. Specifically, you analyzed how a health care organization's external and internal environments affect its operations.
    The next step is to consider an action plan to achieve the organization's strategic objectives and to communicate it to stakeholders.
    This assessment provides an opportunity for you to create an executive presentation in the form of PowerPoint slides and an audio or video recording in which you present the information in the slides. In this presentation, you will outline the action plan your selected health care organization will use to achieve its strategic goals, as well as a plan for communicating the strategic goals and action plan to stakeholders.
    **Reminder:** Complete the assessments in this course in the order they are presented. You will complete sections of a strategic management plan for each assessment. In this assessment, you will continue to use the organization and the factor from the AHA’s most recent Environmental Scan report that you chose in the first assessment.
    ## **Professional Context**
    Now you have a solid understanding of the importance of strategic planning, key core concepts and components for the organization you selected, and goals that align with its mission, vision, and values. You have now evaluated where the strengths, weaknesses, opportunities, and threats exist.
    The next step in strategic planning is creating an action plan and communicating that plan to its stakeholders. The following two brief videos provide insights into creating a strategic action plan and communicating it to stakeholders.
    Watch the brief video in the following reading list for tips on creating an action plan.
    – [Assessment 3: Strategic Action Plansreading list.](https://capella.alma.exlibrisgroup.com/leganto/public/01CAPELLA_INST/lists/2409960390006731?auth=SAML&section=2432605890006731 "Select this link to launch this material in a new window.")
    – [Assessment 3: Communicating Your Strategyreading list.](https://capella.alma.exlibrisgroup.com/leganto/public/01CAPELLA_INST/lists/2409960390006731?auth=SAML&section=2409960760006731 "Select this link to launch this material in a new window.")
    ## **Assessment Instructions**
    Create an executive presentation in the form of 8–10 PowerPoint slides and create an audio or video recording (5 minutes or less in length) of yourself making the presentation to your audience. The presentation must describe an action plan to address the identified issues and a communication strategy to share the action plan with the organization's stakeholders.
    In the PowerPoint presentation:
    1. Briefly share the issues you identified in your second assessment.
    2. Analyze how you would address the issues relevant to the factor you chose (your action plan).
    – In your explanation include at least 3 actions.
    3. Analyze the human resource and financial perspectives of your action plan.
    – For example, if you chose the factor Better Care and Greater Value (affordability and access, quality and safety, value-based delivery and payment models), and determined that under accessibility and affordability there were customers who did not have a way to communicate or access follow-up care, an issue is identified. Now that you know this issue, perhaps your action plan to address the issue is partnering with Verizon or AT&T to provide cell phones to those customers who are not able to afford the means of communicating or participating in their plan of care. Keep in mind that means addressing the financial perspective and how this impacts operations.
    4. Describe your communication strategy that addresses the identified issues related to the factor chosen in your initial assessment and the resulting action plan.
    – Describe the effective leadership soft skills that are essential for this delivery. For example, skills such as communication, motivating others, teamwork, problem-solving, adaptability, delegation, active listening, et cetera.
    – Describe a communication strategy that is appealing to your stakeholders.
    – Describe how you will get your stakeholders motivated to climb on board with your action plan.
    5. Your executive PowerPoint presentation should have the following basic structure. It should be 8–10 slides in length, not including the title and reference slides. Be sure to use an appealing slide design. The [PowerPoint Presentations Library Guidecan help.](https://capellauniversity.libguides.com/powerpoint "Select this link to launch this material in a new window.")
    – [Slide 1: Title slide.](https://capellauniversity.libguides.com/powerpoint "Select this link to launch this material in a new window.")
    – [Slide 2: Overview of the factor from the AHA Environmental Scan report you chose in the first assessment.](https://capellauniversity.libguides.com/powerpoint "Select this link to launch this material in a new window.")
    – [Slides 3–5: Action Plan Initiatives (explain at least 3 action items based on your analysis in the second assessment).](https://capellauniversity.libguides.com/powerpoint "Select this link to launch this material in a new window.")
    – [Slides 6–8: Communication Plan (consider leadership soft skills and best practices).](https://capellauniversity.libguides.com/powerpoint "Select this link to launch this material in a new window.")
    – [Slide 9: Conclusion slide (highlights the important takeaways for your audience).](https://capellauniversity.libguides.com/powerpoint "Select this link to launch this material in a new window.")
    – [Slide 10: Reference slide.](https://capellauniversity.libguides.com/powerpoint "Select this link to launch this material in a new window.")
    6. [Presentation slides should consist only of bullet points to express the intended message. Add images where applicable.](https://capellauniversity.libguides.com/powerpoint "Select this link to launch this material in a new window.")
    7. [Include detailed or in-depth discussion notes in the Notes section for each PowerPoint slide (the Notes section is required).](https://capellauniversity.libguides.com/powerpoint "Select this link to launch this material in a new window.")
    8. [Proofread your presentation and make sure your citations and references are complete and are in APA format.](https://capellauniversity.libguides.com/powerpoint "Select this link to launch this material in a new window.")
    9. [Create an audio or video recording of yourself presenting the PowerPoint presentation to your audience. This recording must be 5 minutes or less in length. You may use Kaltura or other compatible software. The](https://capellauniversity.libguides.com/powerpoint "Select this link to launch this material in a new window.") [Using Kalturaresource can help.](https://lat.strategiced.com/redirect?linkid=4533 "Select this link to launch this material in a new window.")
    – [Practice delivering your presentation to keep it less than 5 minutes in length.](https://lat.strategiced.com/redirect?linkid=4533 "Select this link to launch this material in a new window.")
    – [Think about the content and how it should be delivered. You want this to be a motivating and captivating presentation for your CEO. If the CEO is captivated, the other stakeholders will be captivated.](https://lat.strategiced.com/redirect?linkid=4533 "Select this link to launch this material in a new window.")
    – [As a current or future health care leader, your presentation is expected to be delivered clearly and professionally. Create this presentation as if you are presenting this to your workplace CEO.](https://lat.strategiced.com/redirect?linkid=4533 "Select this link to launch this material in a new window.")
    – **Assessment Format:** PowerPoint slides and audio or video recording.
    – **PowerPoint Length:** 8–10 slides, not including the title and reference slides.
    – **Recording Length:** 5 minutes or less.
    – **Supporting Evidence:** Include at least 3 academic or scholarly sources as needed to highlight and support strategies suggested and evidence-based assertions and best practices.
    – **APA Formatting:** Format in-text citations and references according to current APA style and formatting. [Evidence and APAcan help with this.](https://lat.strategiced.com/redirect?linkid=1540 "Select this link to launch this material in a new window.")
    – [**Submission Requirements:**Submit your PowerPoint slides and recorded audio or video presentation in the Assessment area.](https://lat.strategiced.com/redirect?linkid=1540 "Select this link to launch this material in a new window.")
    ## **Competencies Measured**
    By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and scoring guide criteria:
    – Competency 1: Analyze organizational structure, design, culture, and climate in relation to environmental forces.
    – Describe issues identified in an environmental scan of an organization.
    – Describe a communication strategy that addresses identified issues related to a specific environmental factor and the resulting action plan.
    – Competency 2: Develop a strategic organizational plan that provides human and financial resources to support targeted organizational outcomes.
    – Analyze how to address the issues identified in an environmental scan relevant to a specific environmental factor.
    – Analyze the human resource and financial perspectives of an action plan.
    – Competency 4: Communicate in a manner that is scholarly, professional, and consistent with expectations for professionals in health care administration.
    – Describe effective leadership soft skills that are essential for communicating an action plan.
    – Create an effective PowerPoint presentation, including detailed discussion notes.
    – Create an effective audio or video presentation conveying an action plan and communication plan.

  • [Solved] MGMT 314

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    Executive Solution Overview

    SEE ATTACHMENT – ## WEEK3.docx **## WEEK3.docx** **250-300 WORDS ANSWERING THE FOLLOWING QUESTION** Why is it important for organizations to focus on hiring ethical employees? **## WEEK3.docx** **250-300 WORDS ANSWERING THE FOLLOWING QUESTION** Why is it important for organizations to focus on hirin…

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    Assignment Prompt & Instructions

    SEE ATTACHMENT

    – ## WEEK3.docx

    **## WEEK3.docx**

    **250-300 WORDS ANSWERING THE FOLLOWING QUESTION**

    Why is it important for organizations to focus on hiring ethical employees?

    **## WEEK3.docx**

    **250-300 WORDS ANSWERING THE FOLLOWING QUESTION**

    Why is it important for organizations to focus on hiring ethical employees?