What is systemic thinking? Why is it important for managers to practise systemic thinking?
What will be an ideal response?
A system is an organized arrangement of elements that are interdependent and interconnected to form a purposeful, organic whole. Systemic thinking is vital to managers anytime they are expected to help make changes in the organization. The reason: nothing ever operates in complete isolation from everything else. If a manager makes one change in his or her department, other changes will likely follow in other places in the organization. Likewise, an awareness of the organization's culture is vital to making changes. Less experienced managers sometimes forget how their organization is connected to the outside world, or sometimes lose touch with the internal organizational culture. When implementing organizational changes, managers may be surprised at how much resistance to change subordinates and fellow managers might harbor. To be effective, managers must maintain an awareness that they are working within a whole system that is part of an even larger system in society.
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Sandstorm, Inc signed a 200-day, 5%, $5,000 note on April 1, 2017, and this was the only note payable for the company
Calculate the times-interest-earned ratio of Sandstorm, Inc if its earnings before interest and taxes for the year ending December 31, 2017, is $4,300. (Use a 360-day year.) What will be an ideal response
Which two concepts are best illustrated by the following passage from a January 29, 2008, report in The New York Times about Societe Generale trader Jerome Kerviel, whose trading misconduct eventually led the bank to lose more than $7 billion? "Over time, Mr. Kerviel had increased the size of his bets - he hedged his positions on paper with falsified documents and e-mail messages - but he remained convinced that success was just around the corner. 'He bet on the return of the markets that were extremely low and he imagined that there would be a return of the markets just as large as the losses,' [a French prosecutor] said. 'There is an addiction. There is a dependency on this complicated game of betting on the markets, and there is a sort of spiral into which it's difficult to exit.'"
a. Assumption of similarity and deindividuation. b. Illusion of optimism and escalation of commitment. c. Diffusion of responsibility and Objectivism. d. Multiple ethical selves and Integrative Social Contracts Theory.