Module 1 discussion
Every time we have to make a choice we are faced with an
opportunity cost. Using an example in your professional life, identify a
situation where you were presented with a choice, the opportunity cost of the
choice you made, and the process you used to make your choice. As part of your
discussion, explain whether or not responsible stewardship played a role in
your choice. Remember to use the appropriate economic concepts and terminology
that are applicable to your answer.
Module 2 discussion
What factors must a firm consider when deciding to raise or
lower its price? In answering this question think about the content in Chapters
4 and 5 and use a real-world example that helps illustrate your answer.
Module 3 discussion
View the video at the link below and share your thoughts on
the economic concepts that you believe are applicable. In your response,
provide a rationale on whether or not a firm has to possess market power in
order to raise prices.
How to Raise Prices Without Losing Customers
Module 4 discussion
If a firm has created value, is it also always able to
capture that value? How does a firm create value and then what must it be able
to do to capture that value? In your answer, provide an example of a firm that
has been able to create value. Then discuss whether or not you believe it has
captured that value and if so how it was captured and if not why it was not
able to do so.
Module 5 discussion
Identify an incentive conflict in your firm, or one you have
read about, that reduced firm value. As part of your answer, discuss whether or
not one or more of the legs of the organizational stool was unbalanced, and if
so, how that contributed to the conflict.
Module 6 discussion
Should decision management and decision control be
separated? As part of your discussion, provide a real-world example (or provide
a fictitious example) of a firm where the control (correctly) resides with the
same individual as well as an example of a firm where the control is
(correctly) separated.
Module 7 discussion
W. Edwards Deming, often referred to as the leading quality
guru in the United States, and psychologist Alfie Kohn support the idea that
incentive pay is not a motivator for individuals to do a good job. Yet
economists argue that incentive compensation does work and as economist George
Baker notes in his 1993 article in the Harvard Business Review titled
“Rethinking Rewards,” “The problem is not that incentives can’t
work but that they work too well.” What does Baker mean? Discuss the
importance of a well-developed compensation plan in attracting and retaining
good employees and how to keep those plans from “working too well.”
Module 8 discussion
Describe an experience that you have had working on a team.
As part of your response discuss how the team was evaluated. Also discuss
whether or not the free-rider problem existed on your team. If it did exist
also discuss how/if the problem was addressed. If the problem did not exist
discuss why not or how the problem was managed.
