On January 30, 2018, Three Major US Corporations Amazon ✓ Solved
On January 30, 2018, three major US corporations, Amazon
On January 30, 2018, three major US corporations, Amazon, Berkshire Hathaway, and JPMorgan Chase announced their partnership to create solutions to address the healthcare needs of their US employees. Based on decision making situations outlined in chapter four of Zikmund et al. (9th ed.) textbook where potential situations are categorized based on the degree of certainty or ambiguity and perception of problem vs opportunity, how would you categorize this decision? Based on your analysis, discuss how you would evaluate the classification that is presented in your textbook? Suppose you are trying to collect data for a research project by conducting an online survey. Based on the discussions presented in chapter five of Zikmund et al. (9th ed.) textbook, what information will you provide to your targeted audience in order to address some of the ethical issues in data collection.
Paper For Above Instructions
On January 30, 2018, the announcement of a partnership between Amazon, Berkshire Hathaway, and JPMorgan Chase marked a significant intervention in the American healthcare landscape. This collaboration aimed to leverage the resources and expertise of these corporate giants to improve the healthcare services available to their employees. To analyze this decision through the lens of decision-making situations proposed in Zikmund et al. (2013), it is essential to categorize it based on the degree of certainty or ambiguity and the perception of the situation as a problem or an opportunity.
Categorization of the Decision
In Zikmund et al.'s framework, decisions can be categorized as certain, risk (where probabilities can be determined), or uncertain/ambiguous. The initiative taken by the three corporations can be classified as a decision characterized by uncertainty and ambiguity. The uncertainty stems from the complexities inherent in the healthcare ecosystem, including varying employee needs, regulatory environments, and potential outcomes of the partnership. Additionally, the ambiguity regarding the effectiveness and efficiency of the health solutions they aim to develop adds another layer of complexity to this decision. The corporations are venturing into a field where the variables at play are numerous and often unpredictable.
Moreover, the partnership can be perceived as an opportunity rather than a problem. The executives involved identified a pressing need within their workforce—escalating healthcare costs and inadequate access to quality healthcare services—and seized the chance to innovate and potentially disrupt current market processes. By framing their decision in this light, they view the collaboration as a proactive step towards enhancing employee welfare while simultaneously aiming to contain costs, which can yield long-term benefits for both employees and the corporations.
Evaluating the Classification
The evaluation of the classification presented in the textbook involves analyzing the context and the strategic intentions behind the collaboration. These corporations possess substantial resources and influence, which afford them unique capabilities to tackle complex problems such as healthcare. Given their previous experiences and expertise in managing large-scale operations, one could argue that they leverage their strengths as opportunities that the market often overlooks due to traditional healthcare approaches. Their move can represent a strategic alignment towards innovation-driven solutions whereby the benefits of collaboration could lead to enhanced healthcare quality while mitigating costs associated with employee health management.
Furthermore, the classification invites a discussion on how decision-making can be adaptive. As the partnership evolves, continuous evaluation of their strategies and adapting to feedback—through data analysis, employee surveys, and industry trends—will be crucial in refining their approach to healthcare. This dynamic assessment aligns well with Zikmund et al.'s emphasis on understanding and navigating decision environments.
Ethical Issues in Data Collection
In the context of conducting an online survey as part of a research project, ethical considerations are paramount to foster trust and comply with regulations. Chapter five of Zikmund et al. discusses the importance of addressing ethical issues in data collection. To effectively address these matters, pertinent information must be communicated to the target audience to ensure transparency and ethical integrity throughout the research process.
Firstly, informed consent is crucial. Participants should be made aware of the nature of the research, its purposes, and how their data will be utilized. It is essential to clearly explain that their participation is voluntary and that they can withdraw at any time without any repercussion. This aligns with the ethical principle that respects individual autonomy and choice.
Secondly, participants must be assured of the confidentiality of their responses. Data should be handled with care, and personal identifiers must be eliminated from public reports to prevent any potential identification of the respondents. Providing a statement regarding data security measures reinforces the commitment to protecting participant privacy—a significant aspect of ethical data collection.
Finally, the potential benefits of the study should be elucidated, detailing how the findings could contribute to knowledge within the relevant field or improve practices, including healthcare outcomes in the specific context addressed by the survey. This transparency can enhance participant engagement and willingness to contribute to the study.
Conclusion
In conclusion, the collaboration between Amazon, Berkshire Hathaway, and JPMorgan Chase illustrates a decision-making scenario rife with uncertainty yet viewed as an opportunity for transformative healthcare solutions. Those evaluating such classifications can benefit from understanding the strategic moves of these corporations within the intricate landscape of American healthcare. Furthermore, transparency with ethical data collection practices fosters trust and safeguards participants' rights and privacy, ultimately enrichening the research outcomes.
References
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- U.S. Department of Health and Human Services. (2020). Health Information Privacy. Retrieved from https://www.hhs.gov/hipaa/for-professionals/privacy/index.html
- Fischer, S.H., et al. (2018). Barriers to the Adoption of Telehealth by Health Systems: A Systematic Review. Health Services Research, 53(2), 1002-1018.
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