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Decision Making
In the first four units, you have been introduced to several managerial decision-making concepts. For this journal, you will reflect on several of them.
Part I: Recall a time when you experienced a winner’s curse. Perhaps you purchased something for what you thought was a great price but quickly (or later) realized it was not. Perhaps the quality was lower than you thought it was. ?
What were your feelings at the time of the purchase when it seemed like such a good deal? Compare your initial feelings to what you felt later when realizing that it was not what you thought.?
Part II: In Chapter 6, you were introduced to the footbridge dilemma, where it prompted you to make a choice of pushing one person in front of a trolley to stop the trolley in order to save the five people farther up the line on the track. What would you do in this situation? What would your motivations be? How would your emotions affect your decision??
Your combined response must be at least two pages in length. No references are necessary.
Production Management
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Reflect on what you have learned in the first four units of this course and complete this three-part journal:
Part I: Production managers strive to employ their labor efficiently and to increase productivity. Are these the same concept, or are efficiency and productivity different? What is your experience with this? Describe in detail the ways they are the same or the ways they are different.
Part II: There is growing interest in bringing manufacturing jobs back to the United States. What do you think companies can do to bring back jobs (i.e., reshoring)? Information on reshoring can be found at the following web page: http://www.reshorenow.org/companies-reshoring/.
Part III: Many product and service reviews are available online. Some are positive, and some are negative. Do you think they accurately represent the actual product quality? Do the reviews affect your purchase decisions? Why do you think consumers take the time to write them? Do you post online reviews?
Your journal entry must be at least 500 words. No references or citations are necessary.
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