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by: Javier Perez

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# MGT 304 Notes weeks 2 and 3 ACC 212

Marketplace > University of Miami > Accounting (ACCT) > ACC 212 > MGT 304 Notes weeks 2 and 3
Javier Perez
UM

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Class notes week 2 and 3
COURSE
Managerial Accounting 212
PROF.
Quintana
TYPE
Class Notes
PAGES
4
WORDS
CONCEPTS
Management
KARMA
Free

## Popular in Accounting (ACCT)

This 4 page Class Notes was uploaded by Javier Perez on Sunday September 11, 2016. The Class Notes belongs to ACC 212 at University of Miami taught by Quintana in Fall 2016. Since its upload, it has received 10 views. For similar materials see Managerial Accounting 212 in Accounting (ACCT) at University of Miami.

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Date Created: 09/11/16
MGT 304 Case due next Thursday Piloting Strengths: many variables can be studied Provides rich data Useful for generating hypothesis Lab experiments: Strengths: substantial experimental control Precise measurement of variables Causality can be inferred Easy experiment replication Field Experiments: Generalization is high Casual inferences can be drawn Short and long term effects can be studied A high statistical score on the range of -1 to 1 indicates a positive causality between two variables. A smaller positive value indicates that there are other variables in play, and the two variables may not be related Data Collection Methods: Have to consider three things: 1) Reliability 2) Validity: is your survey really measuring what it says its measuring 3) Practicality Internal Validity: deals with whether or not the conclusions drawn in the study are due to experimental treatment or if they are caused by extraneous factors (Lab would give better results) External validity: Are the results of the study generalizable to other people, settings, and points in time (Field tests would give better results) When developing theories, you start in the lab (general results) You move to the field to help a specific business (specific results) Confidentiality: required You can do a survey in groups and make results a summary for each of the groups Informed consent: fair explanation of process, description of study, freedom to withdraw Performance: is a function of Individual attributes, effort, and organizational support Individual Attributes: Personality: Function of: Demographic characteristics, Competency, Psychological attributes The Big Five: most traits fall into the following five Traits: Openness, Conscientiousness (most important), Extraversion, Agreeableness, Neuroticism People with overly high IQ’s (over 140) are not usually good managers- they overthink in times of crisis Perception Our perceptions are culturally determined Once we label someone in a particular way, our assessment usually won’t change Then we’ll look for supporting details of our categorization of that person to reassure ourselves Fundamental attribution error- when we judge the performance of others and immediately assume underperformance is their fault Self- serving bias: when we ourselves are performing poorly, we’ll blame external factors. It’s never our fault Kelley’s theory- actions caused by internal or external factors depend on: Consensus: how do other people coming from the same scenario behave (people that live in a certain area are all late to work) IF all behave the same, it’s probably an external factor Consistency: how many times has a specific person engaged in that behavior (how many times does the individual come in late to work) Distinctiveness: whether or not their behavior in one situation is similar to their behavior in another situation (turning in projects late vs showing up to work late) Evaluating Performance Direct indices (barely any perceptual bias): highly quantifiable performance measure (# of days absent, sales volume, # of patients serviced) nd Comparative (2 most perceptual bias): comparing employees to each other (ranking system) The Distribution Curve: you put employees in the following brackets: The top 10%, the next 20%, the average 40%, the next 20%, the last 10% A lot divide their employees into top 10%, middle 70%, last 20% Companies will often cut the bottom tail each year Absolute standard: best measure is customer satisfaction (surveys). Here, you come up with a performance dimension and assign a rating scale (Criteria for a car salesman could be: product knowledge) Most perceptual bias Biases from Perceptual Process: Similarity Error: we rate people more fairly if they’re like us Contrast bias: you fill out a great evaluation and subsequently an average one, but by comparison the second one looks very below average Stereotyping/Implicit Personality Theories: making broad generalizations of people because they belong to a particular demographic. Implicit personality bias is when you look for certain personality traits and believe someone can’t be good at a job without it Halo/Horn Bias: Halo bias is when you like one trait in a person an evaluate everything else about them through that lens. Horn bias is when you dislike one trait about a person and evaluate everything about them through that lens. Leniency Bias/ Central Tendency Bias: Leniency bias is when you give favorable reviews to an employee because you don’t want to deal with their drama. Central tendency is when you evaluate everyone the same (this is done mostly when managers are evaluating teams, but this will cause them to lose the team’s leaders). Primacy/ Recency Effects: Primacy is when something happens very early on in the evaluation period and you think about that the rest of the time you’re evaluating them. Recency is when you remember the most recent stuff a person did even if they haven’t done much before.

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