For this discussion, imagine you've taken on the role of a manager at an engineering company.You've been approached by a supplier of goods—one you haven't worked with before. Thesupplier shows you the new software package it is launching in a few months, and it piques yourinterest. The demo of the new technology shows you how it could really help your team designand develop projects faster. It also includes many add-ons for items that your company is notcurrently working on, but that your intuition says it should be.
The supplier's study says that 90 percent of your industry will be transitioning to this newtechnology in a couple of years, and that if your company doesn't move forward with it, you willfall behind. You are eager to grow revenue, develop your team, and wow your clients. Thesupplier says it is not making the new technology available to your competitors because it wouldprefer to partner with a prestigious company like yours. You think the supplier's representative isknowledgeable about the new technology and your industry, and you enjoy the conversationsyou've had, but you still feel uneasy about making a decision on whether to partner with thisnew supplier.
In your initial post, address the following:
● What research steps need to take place before you can make a decision?● How would you use qualitative or quantitative data to help you make a decision? Explain
the difference between these two methods.● How would you use primary and secondary sources to support your decision? Explain
the difference between these two source types.
Write a post of 2 to 3 paragraphs.
In response to at least two of your peers, address the following:
● Can you spot bias or illogical or unethical arguments your peer's initial post? Explainyour response and give examples.
Peer 1-Patti Basin
Before making a decision, we need to take steps to help us make the best decision for anygiven circumstance or opportunity. Since decision-making is based on what we know, we needto be sure we gather all the necessary information so that we can be sure to make the bestdecision. We will need to use critical thinking skills to determine credible information and whatis not. It will be next to impossible to be 100% certain of the right decision, but we need toresearch enough to feel comfortable with making a decision and acting on it.
I would use qualitative data to describe what I observed using my five senses. For example, if Iwanted to understand better who my customer is, I would gather qualitative data throughinterviewing or a focus group. Quantitative data is beneficial if I need to look at numericalvalues. For example, what were my production levels the past year using my current softwareprogram, and what are my possible production levels using the new technologyffered? Doesthe profit potential outweigh the cost of the software? Quantitative data can be represented bytwo types; discrete or continuous. With discrete, the numbers are exact and can not be 5.5, forexample. This would help in determining the number of people collected in the data. The othertype is continuous, measuring distance, weight, or speed. A good example would be it took anextra 5.5 hours to finish a cabinet design with the old software and 4.3 hours to use the newsoftware.
I would first review primary sources, which are accounts from people directly connected to thesubject. I would look for primary sources with firsthand accounts working with the company andany reports that would help me decide on using the new technology offered. I will also look at
secondary sources interpreting the software and upcoming industry changes. I will avoid biasedsources as that will not help me make an informed decision on going with the new software.
Soomo Learning. (2020). Critical business skills for success. https://www.webtexts.com
A few research steps that need to take place are doing my due-diligence research of thesupplier companies reputation and reviews and opinions of other companies that use theproposed software. Another bit of due-diligence research that needs to be done is researchingthe engineering industry and evaluating whether that 90% of industry transition is accurate ornot.
Qualitative data is is data that can't be represented by numbers, whereas quantitative data isdata that can be represented by numbers. Both types of data is crucial in the decision makingprocess. The above research is a great example of both qualitative and quantitative data andthere uses.
The above research is also a great example of the difference between using primary sourcesand secondary sources. We would be using a primary source by contacting other companiesdirectly regarding the proposed software and their thoughts on it. It is a secondary source withthe suppliers claim that 90% of the industry will be transitioning to the new software.