analysis tool will compensate for inexperience?
Not what you're looking for?
Q: At the monthly meeting, one of your coworkers stated that "Using the right analysis tool will compensate for inexperienced managers." How would you reply to your coworker?
Do the tools help only in certain situations such as routine, daily, or rather mundane decisions, like cost controls, quality controls, or staffing questions (in terms of number of people needed)?
Do tools help the finance or accounting arms of a company more so than operations managers?
What happens if the data entered are wrong? Analytical tools suffer from the GIGO (garbage in, garbage out) weaknesses, and thus an analysis based on these numbers can be flawed.
Can the software and tools replace experienced and seasoned managers? Do computers really think? Do they learn from their mistakes? Can they manipulate or change their environment?
Response is 636 words.
Purchase this Solution
Solution Summary
Response is 636 words and disagrees in many ways. Examples are given. Discussion is in everyday language suitable for novices.
Solution Preview
Q: At the monthly meeting, one of your coworkers stated that "Using the right analysis tool will compensate for inexperienced managers." How would you reply to your coworker?
A: I would disagree. Inexperienced managers often do not know how to compute the analysis tools, cannot detect when something is "off" with the tool (get an abnormal computations) and thus the ingredients should be scrutinized, and novices can misinterpret the results. Analysis tools allow managers to see trends and patterns that are difficult to "see" by looking at a sea of data!
Q: Do the tools help only in certain situations such as routine, daily, or rather mundane decisions, like cost controls, quality controls, or staffing questions (in terms of number of people needed)?
A: Tools help in routine and non-routine decisions. Tools are matched to the decision needed. So, the analysis tools for deciding whether to outsource (infrequent) or buy a new building (30 year asset) differ from the ...
Education
- BSc, University of Virginia
- MSc, University of Virginia
- PhD, Georgia State University
Recent Feedback
- "hey just wanted to know if you used 0% for the risk free rate and if you didn't if you could adjust it please and thank you "
- "Thank, this is more clear to me now."
- "Awesome job! "
- "ty"
- "Great Analysis, thank you so much"
Purchase this Solution
Free BrainMass Quizzes
Writing Business Plans
This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations