Hello! I need help with answering a discussion question. It needs at least two scholary citations in APA format. I can give you access to my school online library if you need it. It needs to be 250 words minimum. I attached the article the question is pertaining to.
Read the article by Chapas and Friga and address/answer the following questions: 1. What role do hypotheses play in making better business decisions? 2. How could you integrate this information within your organization? Your post should contain at least two scholarly citations (you can even use Chapas & Friga if you like). Be sure to list the references for the in text citations at the bottom of your post.
250 words minimum. APA style writting.
ONE POINT OF VIEW Paul N. Friga and Richard B. Chapas MAKE BETTER BUSINESS DECISIONS Decision-making in today’s environment is difficult, and Challenges Executives Face new managers in R&D and other technical positions are Three key macro-level elements that differentiate the often shocked at the lack of systematic decision-making daily decision-making of today include information they find in their interactions with upper management overload, shareholder pressure, and shortened business and their peers in other parts of the organization. cycle time: However, there is a well-tested source of insight into how to improve the decision-making in business: the scien- The search tools in use for problem solving by execu- tific method. Although it has revolutionized our lives and tives at most companies today yield a quantity of infor- the ability to manipulate our material world, the scien- mation that can be overwhelming. This situation has tific method has not been widely adapted for business increased the importance of knowledge management executives. Nevertheless, we believe it can improve the skills to sort the data, identify what is truly relevant, and efficiency and effectiveness of decision-making for then to create value from it. executives, research managers, and business leaders in Shareholder pressure, a result of the rise in worldwide general. capital markets, has led to a relentless drive to achieve short-term financial results, often at the expense of long- In this article, we first examine the typical decision- term considerations. A number of well-known corporate making environment in organizations, highlighting the failures may have resulted from the pressure to achieve challenges executives face in their quest for better per- consistent growth at any cost. formance. Next, we introduce some of the basic tenets from the scientific method and describe how they can Finally, the time-to-market and overall business cycles play a role in overcoming…
Attachments:
dq_1.pdf