dEADLINE 9/4/ 2012TIME 10: 00 AMThis assignment is the continuation of the Unit 1 IP (Part 2)...

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dEADLINE 9/4/ 2012TIME 10: 00 AMThis assignment is the continuation of the Unit 1 IP (Part 2) assignment and it has two parts for the Unit 2 IP assignment:Part 1For this assignment, use the same hypothesis and the Literature Review from your IP1 (Part 2) assignment and compose a 2-3 page theoretical framework (Step 4 of the Sekaran & Bougie process). Use the components of a theoretical framework described in the Sekaran & Bougie textbook as well as the examples contained in the textbook and in published research. Additionally, use sources available on the web, the library, and from the textbook to support your arguments. Remember to include these sources in the references section of your paper.Part 2Using figure 5-1 of Sekaran & Bougie as a guideline, write a 3-5 page Scientific Research Design (Step 6) appropriate for the hypothesis and the Literature Review from the IP1 and the theoretical framework you have prepared for Part 1 of this IP2. Include the type of investigation needed, the study setting, the unit of analysis, and your recommended time horizon for the study. Also offer your assessment on the extent of “researcher interference” (pp. 111-113) and any ethical considerations that may arise from the research design you are proposing.Your assignment should consist of an abstract, a short introduction, and conclusion in addition to the body of the paper (Part 1 and Part 2). Using the Library, the Internet, and your course materials write a 5-6 page document using MS Word.APAadd to assigment			Document Preview:				Chapter 2 page   Please read the following list of large companies: Boeing American Express China Petroleum & Chemical (Sinopec) Intel Home Depot China Construction Bank Microsoft Petrobras-Petro´leo Brasil AT&T Cre´dit Agricole Mizuho Financial Socie´te´ Ge´ne´rale Group Microsoft Petrobras-Petro´leo Brasil AT&T Cre´dit Agricole Mizuho Financial Socie´te´ Ge´ne´rale Group E.ON ENI AXA Group Verizon Communications HBOS IBM Procter & Gamble Barclays Banco Santander BNP Paribas Royal Bank of Scotland Wal-Mart Stores ExxonMobil Bank of America General Electric Without looking back at the list, please estimate whether there are: a. more companies on the list that are based in the United States, or b. more companies on the list that are based outside the United States. Ifyou guessed that there are more American ?rms on the list, you are in the majority. Most people (at least, most Americans polled) estimate that there are more American companies than foreign companies on the list. Most people also guess that the Ameri- can ?rms are larger than the foreign companies listed. However, this majority response is incorrect. In fact, there are thirteen American ?rms on the list and fourteen based outside ofthe United States. What’s more, the non- U.S. ?rms were ranked higher than the American ?rms on Fortune magazine’s 2006 list ofthe largest global corporations. Why do most people overestimate the frequency of American ?rms on the list? Because the American company names are more familiar, more recognizable, and more memorable to Americans than the foreign company names. This problem illustrates the availabilityheuristic, which we introduced in Chapter 1. For Americans, the names ofAmerican ?rms are more available in our memories than the names offoreign ?rms after reading the list. We err in assuming that the prevalence ofAmerican ?rms in our minds mirrors the real world. Awareness ofthe bias resulting from the availability heuristic should inspire us to question our...

Robert · Accepted Answer

Decision making 
Biases in decision making 
Impact of heuristics 
Heuristic leads to several positive and negative impacts. It does lead to good and bad 
decisions. In case of heuristics, as a decision is taken based on combinations of cognition and 
emotional aspects, the accuracy of a decision may be greatly impacted. Heuristics is nothing but 
the usage of innate knowledge or in build and instinct based knowledge for decision making. It 
may be true and accurate only in case of there being high levels of experience and good amount 
of logical as well as correlation based critical thinking. 
Many a times the impact of heuristics is such that an individual does not opt for 
verification of facts as well as testing and verifying his long held beliefs. It leads to creation of 
possibility of their having been a lot many changes in processes as well as facts and heuristics at 
times does fail to incorporate accuracy in such situations. Heuristics also leads to certain 
generalizations and biases which are caused due to incomplete learning or previous experiences. 
In this way heuristic does lead to several impact on decision making. It wrongly casts its 
influence and makes a decision subjective rather than it being objective and as there is a well 
known long standing fact that the accuracy of an objective decision is higher when compared to a 
subjective decision, in cases where facts are verifiable, heuristics should not be used. 
Yet when we consider the practical decision making situation, many a times, complete 
facts and business environment scenarios are not known even after research and information 
gathering and in such situations heuristics does prove to be a blessing and hence experience has 
always held a high value.  
Decision making 
For example, Heuristics can prove immensely useful at the time of a project manager 
trying to manage a resource constrained project while trying to minimize project completion 
delay. Experience can help these managers prioritize and decide as to which of the equally 
important seeming activities is actually more important and also that if they can be managed with 
the resource constraint or not.  
As in most of the cases these decisions have to be made on an immediate basis, it is 
essential for these managers to possess sufficient experience and knowledge as then they are 
bound to make a correct decision even without sufficient time to make a detailed analysis, 
heuristics becomes extremely important. Heuristics is a process of evolutionary learning where 
in the sub conscious is active and gives sufficient intuition to be able to make a right decision. In 
this way, it is possible for managers to take decision based on their experience. 
Generalization and its accuracy 
Heuristics in many a situations lead to falsified generalizations. This can cause several 
biases that may result in decisions which are not beneficial or right since they are not formed and 
framed around the right set of data and information. The accuracy of generalization is usually 
very low. For example, generalizing that all American companies are big is not right. In this way 
generalization without any accurate basis and information evidence is not right.

dEADLINE 9/4/ 2012 TIME 10: 00 AM This assignment is the continuation of the Unit 1 IP (Part 2) assignment and it has two parts for the Unit 2 IP assignment: Part 1 For this assignment, use the same...

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