Bus 625 Data Decision Analytics Week 3 Response 1 Guided Res

Bus625 Data Decision Analytics Week 3 Response 1 Guided Response

Review and respond to two of your peers’ sample selections. Propose an alternative sample choice with justification, special circumstances, or issues that may need attention in your peer’s sample. Note that this discussion is reinforcing the fact that you can get many different samples from the same population.

Paper For Above instruction

This paper will analyze and respond to the sample selections provided by two peers in the context of their respective projects involving sampling techniques, ethical decision-making, and business practices. The goal is to critically evaluate their choices, suggest alternatives where applicable, and discuss the significance of ethical considerations in business decisions.

Response to Robert Mcalexander: Robert’s proposal focuses on implementing stratified random sampling to analyze damage patterns in Orvis’s wader repair program. His choice to divide the population based on geographical regions and damage causes aligns well with stratified sampling principles, as it can increase the precision of estimates by accounting for variability within homogeneous subgroups. An alternative sampling approach that could complement or improve upon his plan is cluster sampling, especially considering the operational logistics and geographic spread of customers. For example, instead of sampling individuals directly across various regions, the company could sample entire regions or stores, then survey all applicable customers within those clusters. This approach can reduce survey costs and logistical complexities, especially since customers are dispersed nationwide. However, it introduces intra-cluster similarities, which necessitate larger sample sizes to achieve statistical confidence. This alternative might be advantageous if the company seeks broad regional insights while managing resource constraints. Nonetheless, Robert’s emphasis on stratified sampling is appropriate given the detailed, damage-specific data he aims to collect for product improvements.

Response to Ijeoma Ibekwe: Ijeoma emphasizes the importance of business ethics, illustrating her points with examples such as Costco’s ethical treatment of employees leading to satisfaction and success, and Renault-Nissan’s unethical concealment of compensation which resulted in negative consequences. Her discussion underscores the role of ethical practices in fostering trust and organizational integrity. An alternative perspective might involve exploring how different cultural contexts influence ethical decision-making and how multinational corporations like Costco or Renault navigate varying ethical standards globally. For instance, what is considered ethical in one country might be viewed differently elsewhere, impacting how companies develop and implement ethical policies. Additionally, Ijeoma could consider discussing the role of corporate social responsibility (CSR) as a strategic extension of ethical behavior, which can enhance brand reputation and stakeholder trust beyond internal employee relations. For example, companies engaging actively in community initiatives and sustainable practices often benefit from enhanced consumer loyalty. These perspectives highlight the multifaceted nature of ethics in international business and suggest that ethical decision-making must be adaptable and culturally sensitive to maximize positive outcomes globally.

References

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