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Superb Consultants has submitted a proposal to analyze the cultural values of your organization. The proposal states that Superb has developed a revolutionary new survey to tap the company's true culture. The survey takes just ten minutes to complete and the consultants say results can be based on a small sample of employees. Discuss the merits and limitations of this proposal. Be sure to cite your sources!!!!!

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The main merit is the cost effectiveness of this survey. The survey can be quickly completed with a small sample of employees and thus, will be quick as well as cost effective. However, it is important that sample must be carefully selected to provide a fair representation of the organization. The survey would result in responses to standardized questions that can be easily analyzed.

However, there are various limitations of this proposal. First of all, it is difficult to analyze the cultural values on the ...

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Superb Consultants has submitted a proposal to analyze the cultural values of your organization. The proposal states that Superb has developed a revolutionary new survey to tap the company's true culture. The survey takes just ten minutes to complete and the consultants say results can be based on a small sample of employees. Discuss the merits and limitations of this proposal.

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The probability

A young engineer has invented holographic mobile phones and has approached a venture capital company to invest in it. The venture capital company considers the product to be an all or nothing product: either everyone will want one because everyone else has one or no one will want one because there will be no one to use it with. The company believes that the probability that it will take off netting them a profit of $2000000 is 0.14. If it doesn't take off then they expect that they would loose $200000. They are considering using a consumer survey to gather more information. However, the company has experience that shows that the probability that the consumer survey will predict success for a product that will fail is 0.24, and the probability that the consumer survey will predict failure when the product will be a success is 0.07. What is the monetary value of the information from a consumer survey to the venture capital company in this case? (ie what is the maximum that they should spend on a consumer survey)?

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