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February 19, 2025
February 19, 2025

Police Agency Representative Speech

Author By Academic Wizard Categories Blog

Police Agency Representative Speech

Write a 525- to 700-word speech from the perspective of a police agency representative in which you introduce a new community partnership initiative to the public. The speech will be given in a town hall public forum in your city. The initiative will address a crime-related issue or concern in your community.

Police Agency Representative Speech

 

Include these points in your speech in the order that follows:

  1. Introduction: Introduce yourself by stating a fictitious name and other preliminary information.
  2. Professional Responsibilities: Identify a philosophy of law enforcement. Explain the basic purpose and function of law enforcement in society. Briefly describe the goals and desired outcomes of community policing.
  3. Community Issue: Describe an issue or concern your community is facing and its impact. Note: Consider using the issue you identified in this week’s discussion.
  4. Community-Partnership: Summarize the duties of law enforcement to support communities. Describe 1-2 strategies the agency is using or will use to partner with the community to address the issue. Include details to explain how the strategies you described will address the issue.
  5. How will law enforcement ensure transparency and communication?
  6. Will law enforcement leverage public programs to combat the issue?
  7. Conclusion/Call to Action: Identify an action the citizens in your community can take to join law enforcement’s efforts to address the issue.
  8. How can community members contribute to or participate in addressing the issue?
  9. How can community members provide suggestions or make complaints about the community partnership process?
  10. Should community members serve in an advisory role to law enforcement? Why or why not?Write a 525- to 700-word speech from the perspective of a police agency representative in which you introduce a new community partnership initiative to the public. The speech will be given in a town hall public forum in your city. The initiative will address a crime-related issue or concern in your community.

    Police Agency Representative Speech

    Include these points in your speech in the order that follows:

    1. Introduction: Introduce yourself by stating a fictitious name and other preliminary information.
    2. Professional Responsibilities: Identify a philosophy of law enforcement. Explain the basic purpose and function of law enforcement in society. Briefly describe the goals and desired outcomes of community policing.
    3. Community Issue: Describe an issue or concern your community is facing and its impact. Note: Consider using the issue you identified in this week’s discussion.
    4. Community-Partnership: Summarize the duties of law enforcement to support communities. Describe 1-2 strategies the agency is using or will use to partner with the community to address the issue. Include details to explain how the strategies you described will address the issue.

Police Agency Representative Speech

    1. How will law enforcement ensure transparency and communication?,
    2. Will law enforcement leverage public programs to combat the issue? ,
    3. Conclusion/Call to Action: Identify an action the citizens in your community can take to join law enforcement’s efforts to address the issue.,
    4. How can community members contribute to or participate in addressing the issue?,
    5. How can community members provide suggestions or make complaints about the community partnership process?,
    6. Should community members serve in an advisory role to law enforcement? Why or why not?
February 18, 2025
February 18, 2025

Forecasting and Budgeting in Businesses

Author By Academic Wizard Categories Blog

Forecasting and Budgeting in Businesses

Why are forecasting and budgeting essential practices for businesses governmental agencies and individuals and how do these processes help in planning for the amount sources and uses of cash?,

  1. Explain the relationship between microeconomics and macroeconomics. ,How do individual decisions in microeconomics such as consumer spending and business production affect the larger economy?, Provide examples of how changes in macroeconomic factors like inflation or unemployment can influence everyday decisions made by households and firms.,
  2. You purchased a house on January 1 2022 for $300000. You made a down payment of 15% of the house’s value, and the remaining 85% was financed through a 25-year loan with an annual percentage rate (APR) of 4.5%, compounded monthly., Monthly payments are to begin on January 1, 2022. You want to calculate the amount of your monthly mortgage payment.

 

Forecasting and Budgeting in Businesses

 

Answer: The formula to calculate the monthly payment for a mortgage is:

Forecasting and Budgeting in Businesses

Excel:

  1. Excel: Open Excel.
  2. In cell A1, type Loan Amount.
  3. In cell B1, type 255000.
  4. In cell A2, type Annual Interest Rate.
  5. In cell B2, type 4.5%.
  6. In cell A3, type Number of Years.
  7. In cell B3, type 25.
  8. In cell A4, type Monthly Payment.

Now, use the PMT function to calculate the monthly payment:

  1. In cell B4, type the formula:

scss

Copy code

=PMT(B2/12, B3*12, -B1)

Explanation of the formula:

  • B2/12 is the monthly interest rate (4.5% / 12 months).
  • B3*12 is the total number of monthly payments (25 years × 12 months).
  • -B1 is the loan amount ($255,000). It’s negative because it represents an outgoing payment.
  1. Press Enter.

Excel will calculate the monthly payment, which should display:

  1. USA Widgets Inc. issues preferred stock that pays an annual dividend of $4.50 per share. The dividends are expected to grow each year at a rate of 0.25% (a growing perpetuity). The required rate of return for this type of stock is 3.5%. What is the approximate price at which this preferred stock will most likely sell today?

Answer:

Excel: Open Excel.

  1. In cell A1, type Dividend Today.
  2. In cell B1, type 4.50.
  3. In cell A2, type Growth Rate.
  4. In cell B2, type 0.25%.
  5. In cell A3, type Required Rate of Return.
  6. In cell B3, type 3.5%.
  7. In cell A4, type Price Today.

Now, use the formula for the price of a growing perpetuity:

  1. In cell B4, type the formula:

Forecasting and Budgeting in Businesses

scss

Copy code

=B1 * (1 + B2) / (B3 – B2)

Explanation of the formula:

  • B1 is the dividend today ($4.50).
  • B2 is the growth rate (0.25%).
  • B3 is the required rate of return (3.5%).
  1. Press Enter.

Excel will calculate the stock price, which should display:

 

  1. A $2,000 bond from Expo Corp. has a coupon rate of 6%, pays interest semiannually, and matures in eight years. If the yield to maturity (YTM) is 8%, what is the bond’s value today?

Answer:

Excel:

  1. Open Excel.
  2. In cell A1, type Face Value.
  3. In cell B1, type 2000.
  4. In cell A2, type Coupon Payment.
  5. In cell B2, type 60.
  6. In cell A3, type Number of Periods.
  7. In cell B3, type 16.
  8. In cell A4, type YTM (Per Period).
  9. In cell B4, type 4%.

Now, calculate the bond value using the PV function for the coupon payments and the face value.

For the coupon payments: 10. In cell A5, type PV of Coupons. 11. In cell B5, type the formula:

scss

Copy code

=PV(B4, B3, -B2, 0)

For the face value: 12. In cell A6, type PV of Face Value. 13. In cell B6, type the formula:

scss

Copy code

=PV(B4, B3, 0, -B1)

Finally, calculate the total bond value: 14. In cell A7, type Bond Value. 15. In cell B7, type the formula:

Copy code

=B5 + B6

Excel will calculate the bond’s value, which should display:

  1. Ocean Blue Ltd. has issued preferred stock (cumulative) with a par value of $150.00 and an annual dividend rate of 6.5%. The preferred stock is currently selling for $50.00 per share. What is the yield or return on this preferred stock?

Answer:

Excel:

  1. Open Excel.
  2. In cell A1, type Par Value.
  3. In cell B1, type 150.
  4. In cell A2, type Dividend Rate.
  5. In cell B2, type 6.5%.
  6. In cell A3, type Current Price.
  7. In cell B3, type 50.

Calculate the Annual Dividend:

  1. In cell A4, type Annual Dividend.
  2. In cell B4, type the formula:
    =B1*B2
  3. Press Enter. This will calculate the annual dividend as:

Calculate the Yield:

Forecasting and Budgeting in Businesses

  1. In cell A5, type Yield or Return.
  2. In cell B5, type the formula:
    =B4/B3
  3. Press Enter. The result will be:
  4. You purchase 150 shares of ABC Corp at $350 per share. After four months, you sell the shares for $365 per share, and you receive a dividend of $1.25 per share during that time. What is your total dollar return on the investment, including both capital gains and dividend income?

Answer:

Excel:

  1. Open Excel.
  2. In cell A1, type Number of Shares.
  3. In cell B1, type 150.
  4. In cell A2, type Purchase Price per Share.
  5. In cell B2, type 350.
  6. In cell A3, type Selling Price per Share.
  7. In cell B3, type 365.
  8. In cell A4, type Dividend per Share.
  9. In cell B4, type 1.25.

Step 1: Calculate the Capital Gain

  1. In cell A5, type Capital Gain.
  2. In cell B5, type the formula:

scss

Copy code

=(B3 – B2) * B1

Press Enter. This will give you the capital gain of:.

Step 2: Calculate the Dividend Income

  1. In cell A6, type Dividend Income.
  2. In cell B6, type the formula:

Copy code

=B4 * B1

Press Enter. This will give you the dividend income of:

Step 3: Calculate the Total Dollar Return

  1. In cell A7, type Total Dollar Return.
  2. In cell B7, type the formula:

Copy code

=B5 + B6

Press Enter. This will give you the total dollar return of:

  1. How does the standard deviation of returns in a portfolio change as the number of stocks within the portfolio increases? Explain the role of diversification in reducing portfolio risk and whether there is a limit to the benefits of adding more stocks to the portfolio.
  2. You are considering investing in a new project that requires an initial investment of $50,000. The project is expected to generate cash flows of $15,000 at the end of each of the next 5 years. The required rate of return (discount rate) for this project is 10%. What is the Net Present Value (NPV) of this investment, and should you proceed with the project?

Answer:

Excel:

  1. Open Excel.
  2. In cell A1, type Year.
  3. In cells A2

, type the years 1, 2, 3, 4, and 5 (for the 5 years of cash flows).

  1. In cell B1, type Cash Flow.
  2. In cells B2

, enter the cash flows for each year, which is 15,000 for each year.

  1. In cell B7, type Initial Investment.
  2. In cell C7, enter the initial investment as -50,000 (negative because it’s an outflow).
  3. In cell A8, type Discount Rate.
  4. In cell B8, enter the discount rate, which is 10% (0.10).

Step 1: Calculate the NPV using the NPV function:

  1. In cell A9, type NPV.
  2. In cell B9, type the formula:

scss

Copy code

=NPV(B8, B2:B6) + C7

  • B8 is the discount rate (10%),
  • B2

are the cash flows for years 1 to 5,

  • C7 is the initial investment (-$50,000).
  1. Press Enter.

Excel will calculate the NPV and display the result, which should be:.

  1. John owns five stocks: United Healthcare, Pfizer, Johnson & Johnson, CVS Health, and Merck. Sara owns five stocks: Microsoft, Coca-Cola, Netflix, Amazon, and Nike. Based on the industries these companies operate in, who has a more diversified portfolio, and why is diversification important for reducing risk in an investment strategy

 

 

 

 

 

 

 

 

February 18, 2025
February 18, 2025

Cuban Case Study Discussion

Author By Academic Wizard Categories Blog

 

Cuban Case Study Discussion

Mrs. Demetilla Hernandez is a 63-year-old Cuban woman who seeks consultation at the Liberty health-maintenance organization (HMO) clinic because of weakness, lethargy, and fatigue that she has experienced for the last 2 months. A week ago, while cooking dinner at her daughter, Mariana’s house, she momentarily lost her balance and slipped on the kitchen floor. Although Mrs. Hernandez sustained only a mild bruise on her leg, her daughter insisted on taking her to the clinic for a check-up because of her persistent symptoms.

 

Cuban Case Study Discussion

 

Mrs. Hernandez, widowed 4 years ago when her husband died of a heart attack, lives with Mariana, aged 40. Mariana is divorced and has three children: Luis, age 15; Carolina, age 10; and Sofia, age 7. Since moving into Mariana’s house, Mrs. Hernandez has been managing the household while Mariana is at work. Mrs. Hernandez prepares the family’s meals, attends to the children when they come home from school, and performs light housekeeping chores. Mariana is employed full-time as a supervisor at the local telephone company. The family, originally from Cuba, has been living in Miami for 12 years. Carolina and Sofia were born in Miami, but Luis came from Cuba with his parents when he was 3 years old. Mrs. Hernandez, who does not speak English, converses with her daughter and grandchildren in Spanish. Although the children and their mother occasionally speak English among themselves, the family’s language at home is Spanish.

Cuban Case Study Discussion

At the Liberty HMO clinic, Mrs. Hernandez was diagnosed with essential hypertension and non–insulin-dependent diabetes mellitus. The physician prescribed an oral hypoglycemic drug and advised Mrs. Hernandez to exercise daily and to limit her food intake to 1500 calories a day. Mrs. Hernandez was concerned because she usually prepares traditional Cuban meals at home and was not sure whether she could tolerate being on a diet. Besides, she explained to Mariana, she thought the dishes she prepares are very “healthy.” Proof of that, she stated, is that her three grandchildren are plump and nice-looking. Mrs. Hernandez told her daughter that, instead of buying the prescribed medicine, perhaps she should go to the botanica and obtain some herbs that would help lower her blood sugar.

Cuban Case Study Discussion

  1. What are the typical Cuban communication patterns you need to be aware of in dealing with Mrs. Hernandez?,
  2. How would you assist Mrs. Hernandez in developing a plan for a 1500-calorie diet and regular exercise?.
  3. Would you encourage Mrs. Hernandez to go to the botanica to purchase some herbs?, How would you approach her desire to use herbs instead of the prescribed oral hypoglycemic agent?,
  4. Discuss some common folk practices that Cuban families may use to maintain health or cure common ailments.,
February 18, 2025
February 18, 2025

Leader’s Role in Organization

Author By Academic Wizard Categories Blog

Leader’s Role in Organization

Contribute to team goals and objectives through active participation and collaboration.For this PowerPoint assignment, select an organization of interest to you. This may be your current or former organization or perhaps one that is frequently in the news. Chapter 9 of the text (DuBrin, 2023) provides a framework for understanding the leader’s role in team-based organizations and differentiates between actions that can be taken at the organizational level, the leader level, and the individual level. In addition, Chapter 12 provides you with an opportunity to learn about your personal conflict resolution style.Checklist:

 

Leader’s Role in Organization

  • Introduction section: Introduce the reason you are proposing a team approach by identifying the long-term business goal you desire to achieve through teamwork.
  • Actions for the organization level: (see DuBrin text, Table 9-1)
    • Identify which of the seven actions are appropriately established and which need to be revised or developed.,
    • Propose recommendations for policy and structure changes to better enable the successful deployment of a team approach.,
  • Actions at the leader level: (see DuBrin text Table 9-1)
    • Using the 12 actions that leaders can take as a model identify three strengths that seem generally consistent among leaders in the organization and three opportunities for development.,
    • Propose recommendations for leader training and development to help the team approach succeed.,
  • Actions at the individual level: (see DuBrin text)
  • Leader’s Role in Organization
    • Using the Leadership Self-Assessment  determine your personal conflict resolution style and summarize what indicates for team membership and leadership.,
    • Using the Leadership Self-Assessment  determine your team player attitudes and propose recommendations for how you will improve your ability to contribute to team goals and objectives through active participation and collaboration.,
  • Provides an inspirational call to action to support the recommendation. Provide a conclusion that connects to the goal provided in the introduction.,
  • Ensure substantive integration of appropriate, current, and reliable resources — including in-text citations throughout the notes with a corresponding item on the reference list. A minimum of two viable sources are required [no older than 3 years].
  • Presentation quality: Your presentation should be spell and grammar-checked and demonstrate correct mechanics and appropriate writing and presentation style. The use of a professional template, graphics, and Microsoft® SmartArt® are necessary to make it visually appealing. Ensure each slide is streamlined and easily viewed in a large setting.

Leader’s Role in Organization

Order of presentation:

  1. Title slide
  2. Introduction
  3. Organizational Level: Established versus development needed (2-3 total slides)
  4. Organizational Level: Recommendations (2-3 total slides)
  5. Leader Level: 3 strength and 3 development opportunities 2-3 total slides)
    1. Leader Level: Recommendations)
  6. Individual Level: Personal Conflict Resolution Style (2 slides)
    1. Individual Level: Team player attitudes
  7. Call to action (1 slide)
  8. Conclusion (1 slide)
  9. Thank you and Contact information (1 slide)
  10. References (1 slide)
February 16, 2025
February 16, 2025

Using Analytic Techniques

Author By Academic Wizard Categories Blog

Using Analytic Techniques to Add Meaning to Data

Instructions: 

Download data on a company’s stock history. From this data, create scatterplots, histograms, and calculate the mean, median, mode, and standard deviation of some data points. Write a 5-8 page report including the graphs and descriptive statistics you have created.

 

Using Analytic Techniques

Introduction:

Business analytics techniques are used to facilitate decision making by transforming large amounts of raw data into meaningful information. Many businesses rely on analysis of relevant historical data to make key strategic and operational decisions. Therefore, understanding how to use techniques such as graphical representation and descriptive statistics to translate raw data into useful information can be a valuable skill in an organization.

In this assessment and the next, you will have the opportunity to sharpen your analytics skills by locating and interpreting real-life stock data.

You have been learning about how to explore data. In this assessment, you will apply those skills by downloading a practical dataset and creating graphical representations of that data. The work you do in this assessment will lay the foundation for future assessments in which you analyze and interpret those graphical representations. Since the purpose of business analytics is to make sense of large quantities of raw data, this assessment helps you develop skills in applying analytics to business contexts by practicing the exploration and display of data.

In addition to graphical and tabular summary methods, numeric or quantitative variables and data can be summarized numerically using various techniques of description and display.

Using Analytic Techniques

Descriptive methods, which describe existing data, are also methods for using a subset of the available data to estimate or test a theory about a measurement on a larger group. This larger group is called the population, and the measurement being studied is the parameter. The smaller group, or subset, of the population that is taken in order to make an inference (to make an estimate or test a theory) is referred to as the sample. The measurement taken on that sample is then referred to as the statistic, which is usually the best single-number estimate for the population parameter of interest. Most often, however, the estimate should not be restricted to a single number that would be exactly correct or incorrect. Instead, it is preferable to calculate some range of possible values between which there can be a certain percent confidence that the true population parameter falls. These are referred to as confidence intervals.

Scenario:

Business analytics techniques are used to facilitate decision making by transforming large amounts of raw data into meaningful information. Many businesses rely on analysis of relevant historical data to make key strategic and operational decisions with the goal of gaining or maintaining competitive advantage. Therefore, understanding how to use techniques such as graphical representation and descriptive statistics to translate raw data into useful information can be a valuable skill in an organization.

In this assessment and the next, you will have the opportunity to sharpen your analytics skills by locating and interpreting real-life stock data, creating a business report, and presenting the information from the business report with your supervisor and colleagues as part of a decision-making effort.

Your Role:

You are a member of a business analyst group interested in a publicly traded company. Your supervisor has asked you to create a presentation, including graphical representations from raw stock data. From that raw stock data, you are to create a business report for a company-wide meeting at the end of the quarter. Your work and the work of others will result in a Business Report, which will be utilized to help company leadership make decisions.

Your first task is to pick a publicly held company with only one business platform. So do not pick Apple, Amazon, Disney, et cetera. You want a company that plays in only one industry. Then you are to provide an overview of the company, including business context. Remember that business context includes many aspects of the company, industry, competition, et cetera.

The second task is prepping stock history data from the business or company and creating scatter plots and a histograms.

The third task is to calculate mean, median, mode, and standard deviation of the adjusted daily closing stock price and the stock volume.

The fourth task is to provide a summary of the information you provide (including data analysis) without bias and with factual information including citations.

It is your responsibility to present visually and to interpret the data into meaningful information using analysis and descriptive statistics.

Using Analytic Techniques

Instructions:

Select a publicly traded business or stock that plays in only one industry in which you have interest. Download the raw data on the company’s stock history.

Follow these steps to locate and download stock history from Yahoo! Finance:

· -Go to Yahoo Finance.

· -Search for and find the stock information of your chosen company. Remember do not use a company that plays in multiple industries.

· -Once you pull up the general data on the company, review the screen links throughout until you find the link for Historical Data. Click on the Historical Data link. Then select the following settings above the table:

*Select Time Period of one year.

*Select “Historical Prices.”

*Select Frequency as “Daily.”

*Click Apply.

*Click Download Data. Go to the bottom of your screen or your Downloads folder to open the Excel file you just downloaded. Open the Excel file. Check to be sure that you have enough lines to show the whole year. If not, reset the settings at the top of the Historical Data chart and try again.

*Once you are sure that you have a year’s worth of data, save the Excel file.

Using the Excel file with the year’s stock data, conduct descriptive analysis as follows:

1). Create a scatter plot of the highest stock price (in the column labeled “High”) against time. Write several sentences explaining the process/steps by which you created this graph.

2). Create a scatter plot of the lowest stock price (in the column labeled “Low”) against time. Write several sentences explaining the process/steps by which you created this graph.

3). Create a histogram of the adjusted daily closing stock price (in the column labeled “Adj Close”). Make sure the histogram is meaningful by adjusting the bin size so you can see the shape of the histogram. Write several sentences explaining the process/steps by which you created this graph.

4). Create a histogram of the stock trading volume (in the column labeled “Volume”). Make sure the histogram is meaningful by adjusting the bin size so you can see the shape of the histogram. Write several sentences explaining the process/steps by which you created each graph.

5). Complete the following for each of the four graphs:,

*Make sure the x and y axis have appropriate labels—“Stock Price in USD” or “Date D/M/Y” for example.,

*Change the title of the graph to communicated what the graph is communicating.,

*Add options—color trendlines legend other?,

6). Calculate the mean median mode and standard deviation of the adjusted daily closing stock price.,

7). Put answers of calculations in table format for easy review.,

8). Write several sentences explaining the process by which you calculated these statistics.

9). Calculate the mean, median, mode, and standard deviation of the stock volume. Put in table format for easy review. Write a sentence explaining the process by which you calculated these statistics.

10). Prepare a 5-8 page report that you would present to your supervisor, including the following.

*An APA-formatted title page.

Using Analytic Techniques

*A 1-2 page introduction describing the background of your chosen company and its practical extensive business context. You should use at least four sources of information on the company, industries the company participates in, history, mission, platforms, products, competitive advantage, and competitors by industry.

*A section labeled Graphical Representations of Data, in which you include the four graphs you created above and short descriptions of the process you used to create each graph.

*A section labeled Descriptive Statistics, in which you include the statistics you calculated above and explanation of the procedures you followed to calculate the statistics.

*A summary of what the data suggests. No opinion please. See textbook information on how to interpret data. Please remain unbiased in your summary. You may use additional resources (and cite) to help you interpret the data. For example: What does Standard Deviation say about stock volatility?

Your paper should be APA-formatted with in-text citations and a corresponding references page. Remember to cite the sources of your financial data. Include at least four sources of information for your page and reflect on reference page.

Additional Requirements:

· *Length: 5-8 pages, double-spaced. Include a title page and the graphical representations of the data selected.

· *Written communication: Written communication should be free of errors that detract from the overall message.

Use the resources linked below to help complete this assessment:

These recommended resources are intended to support your effort to create visual representations of the data that you have selected for review.

-Lind, D. A., Marchal, W. G., & Wathen, S. A. (2022). Basic statistics for business and economics (10th ed.). McGraw-Hill.

-Chapter 2, “Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation.”

*Beginning with a scenario about how a large corporation uses statistics and analytics to support business decisions, this chapter also includes instructions on how to create descriptive statistics such as frequency tables, bar charts, pie charts, histograms, and frequency polygons (line charts).

-Chapter 3, “Describing Data: Numerical Measures.”

*A discussion of what average means in common conversation leads to instructions for calculating measures of location, otherwise known as the mean, median, and mode.

-Chapter 4, “Describing Data: Displaying and Exploring Data.”

*Instructions for creating dot plots (scatterplots), percentiles, and box plots will provide additional insight into how data is concentrated as well as the general shape of the data.

-Chapter 5, “A Survey of Probability Concepts.”

*The previous chapters on descriptive statistics concerned data on past phenomena; this section addresses determining “the chance that something will occur in the future.”

–Estimations [PDF] Download Estimations [PDF].

*This short reading includes five sample applications of the “big 5” parameters.

Technology Help:

· Microsoft. (n.d.). Add a pie chart. https://support.office.com/en-us/article/Add-a-pie-chart-1a5f08ae-ba40-46f2-9ed0-ff84873b7863?ui=en-US&rs=en-US&ad=US#__toc348714905

· Microsoft. (n.d.). Create a box and whisker chart. https://support.office.com/en-us/article/Create-a-box-and-whisker-chart-62f4219f-db4b-4754-aca8-4743f6190f0d

· Microsoft. (n.d.). Create a histogram. https://support.office.com/en-us/article/Create-a-histogram-in-Excel-85680173-064b-4024-b39d-80f17ff2f4e8?ui=en-US&rs=en-US&ad=US

· Microsoft. (n.d.). Load the Analysis ToolPak in Excel. https://support.office.com/en-us/article/Load-the-Analysis-ToolPak-in-Excel-6a63e598-cd6d-42e3-9317-6b40ba1a66b4?CTT=1&CorrelationId=9f089166-5317-42d4-8d41-56b3d207e812&ui=en-US&rs=en-US&ad=US

· Microsoft. (n.d.). Present your data in a column chart. https://support.office.com/en-us/article/Present-your-data-in-a-column-chart-d89050ba-e6b6-47de-b090-e9ab353c4c00

· Microsoft. (n.d.). Present your data in a scatter chart or a line chart. https://support.office.com/en-us/article/Present-your-data-in-a-scatter-chart-or-a-line-chart-4570A80F-599A-4D6B-A155-104A9018B86E

· Microsoft. (n.d.). Use the Analysis ToolPak to perform complex data analysis. https://support.office.com/en-us/article/Use-the-Analysis-ToolPak-to-perform-complex-data-analysis-6C67CCF0-F4A9-487C-8DEC-BDB5A2CEFAB6

Topic Resources:

These resources are optional and are provided to support and extend the learning in the course.

· Ayers, D. F. (2002). Mission priorities of community colleges in the southern United States. Community College Review, 30(3), 11-30.

· Bae, J., & Cameron, G. T. (2006). Conditioning effect of prior reputation on perception of corporate giving. Public Relations Review, 32(2), 144-150.

· Gault, J., Redington, J., & Schlager, T. (2000). Undergraduate business internships and career success: Are they related? Journal of Marketing Education, 22(1), 45-53.

· Preis, T., Moat, H. S., & Stanley, H. E. (2013). Quantifying trading behavior in financial markets using Google trends. Scientific Reports, 3(1684), 1-6.

Using Analytic Techniques

Evaluation:

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies through corresponding scoring guide criteria:

·-Competency 2: Use analytic and statistical techniques to make meaning of large quantities of data.

*Create four different graphical representations of data.

*Calculate descriptive statistics for two different variables.

*Summarize the processes by which each graph and statistics were created and calculated.

-Competency 4: Present the results of data analysis in clear and meaningful ways to multiple stakeholders.

*Introduce the company and practical business context.

*Correctly format citations and references using current APA style.

*Write content clearly and logically with correct use of grammar, punctuation, and mechanics.

February 16, 2025
February 16, 2025

Developing Information Security Policies

Author By Academic Wizard Categories Blog

Developing Information Security Policies

Attention should be focused when writing policies to make sure that they are effective and do not conflict.  In order to make sure that your policies are effective, keep in mind the following secure design principles:

Mandatory Reading:
Read The Security Principles of Saltzer and Schroeder (link) blog for a greater understanding.

 

Developing Information Security Policies

Project Overview

This project includes the following tasks:

  1. Review and prioritize scenario audit observations
  2. Develop an information security policy and related procedure
  3. Develop an implementation and dissemination plan
Objective: Developing Information Security Policies

A security policy is the document developed by an organization that formally states how it plans to protect its information and information systems. Organizations should treat a security policy as a “living document.” This means that the organization continuously reviews and updates the document as technology and employee requirements change.

Organizations use several documents to support its policy infrastructure. In this project, you will be developing the following documents:

Developing Information Security Policies

  • An Information Security Policy
  • A procedure to support the policy

An effective security policy references the standards and guidelines that exist within an organization. An information security policy contains high-level statements with the intent of protecting information and assets. It is the responsibility of senior management to develop security policies.

Standards are mandatory controls that enforce and support the information security policy. Standards are a collection of properties or rules that an organization formally adopts and recognizes. There are many standards organizations in the information technology field including IEEE, EIA/TIA, NIST and ISO.

Guidelines are recommended, non-mandatory controls that support standards and provide a foundation for the development of best practices.

Procedures are the systematic instructions used by employees within the organization that explain how to implement the controls defined in the policies, standards, and guidelines.

For example, a password policy states the standard for creating strong passwords and protecting passwords. A password construction guideline defines how to create a strong password and provides best practices recommendations. The password procedure provides the instructions on how to implement the strong password requirement. Organizations do not update policies as frequently as they update procedures within the information security policy framework.

Developing Information Security Policies

Supplemental Materials
  1. Information Security Policy — A Development Guide (link)
  2. Technical Writing for IT Security Policies in Five Easy Steps (link)
Website Links
  1. Information Security Policy Template (link)
  2. Security Awareness Planning Toolkit (link)
  3. https://youtu.be/ZlKgMUOpMf8

 

Project Scenario

ACME Healthcare is a healthcare company that runs over 25 medical facilities including patient care, diagnostics, outpatient care and emergency care. The organization has experienced several data breaches over the last five years. These data breaches have cost the organization financially and damaged its reputation.

The executive leadership team recently hired a new Chief Information Security Officer (CISO). The new CISO has brought in one of the top cybersecurity penetration teams to perform a full security audit on the entire organization. This independent contractor conducted the audit, and found the following vulnerabilities:

Developing Information Security Policies

  1. Several accounts were identified for employees that are no longer employed by ACME.,
  2. Several user accounts allowed unauthorized and escalated privileges and accessed systems and information without formal authorization.,
  3. Several devices and systems allowed unsecure remote access.,
  4. Forty percent of all organization passwords audited were cracked within 6 hours.,
  5. Password expiration was not standardized.,
  6. Sensitive files were found unencrypted on user systems and laptops.,
  7. Several wireless hotspots used WEP for encryption and authentication.,
  8. Evidence indicates that sensitive e-mail was sent unencrypted to and from employee homes and mobile devices.,
  9. Intrusion detection logs were infrequently reviewed and analyzed.,
  10. Systems with sensitive company data were used by employees for private use.,
  11. Employee systems were left unattended and employees failed to logout of the company network and data systems.
  12. Inconsistent system updates and configurations were performed.
  13. Several firewall rules were set to permit all traffic unless specifically denied.
  14. Company servers were not updated with the latest patches.
  15. Intranet web server allowed users to change personal information about themselves, including contact information (address, phone number, etc.).

Policies, Procedures, and Guidelines: Overview the Scenario

  1. Read over the scenario given above. Watch the Information Security Policy (video) . Differentiate the various levels and types of policies. (describe at least 2 types and 2 levels of policies)  Make sure you cite your sources.

Developing Information Security Policies

Policies, Procedures, and Guidelines: Review and Prioritize Audit Findings

  1. Review the security audit findings from the Project Scenario above.
  2. Research the types of vulnerabilities listed and determine which pose the greatest threat.
  3. Based on your research, select the top five security audit findings that ACME should address.
  4. Create a Vulnerabilities Ranking Table, like shown below, and record your rankings in a table which lists the a) Vulnerabilities, b) the Recommended Policy to mitigate this vulnerability, and c) your Justification.
  5. Remember to cite your justifications using footnotes.

Example: SS IN FILES BELOW Labeled Example 1

RUBRIC:

Security audit findings

Find the top five starting with the greatest vulnerability.

Maximum score

8

Recommended Policies

Identify policies for top five vulnerabilities.

Maximum score

8

Policy Citations

Cite your policy for each vulnerability.

Maximum score

Policies, Procedures, and Guidelines: Develop Policy Documents

Part 1: Create an Information Security Policy
  1. Select a vulnerability from your submitted table and develop a security policy for one vulnerability. (Should be a policy, NOT a procedure or guideline.)
    1. Use the SANS templates (see Weblinks above) to develop your specific security policy for ACME Healthcare.

NOTE: Follow the template as a guideline. Address all existing policy elements in the template. No policy should exceed two pages in length.

Developing Information Security Policies

Part 2: Create a Procedure
  1. Create a separate step-by-step set of instructions (a procedure) that supports your information security policy.
  2. Include all of the information that a user would need to properly configure or complete the task in accordance with the security policy.

You should be submitting two documents to get full credit!

RUBRIC:

Information Security Policy

Document is an Information Security Policy that contains all sections included in the SANS template, not a procedure or Guideline.

Maximum score

15

Information Security Procedure

Document is a step-by-step set of instructions that contains all of the information that a user would need to properly configure or complete the task (Procedure)

Maximum score

10

 

Policies, Procedures, and Guidelines: Develop Plan to Disseminate and Evaluate Policies

Research and document the information required to create an information security policy implementation and dissemination plan. (Use the Security Awareness Planning Toolkit above) Include specific tasks and events that ACME Healthcare will use to make sure that all employees involved are aware of the information security policies that pertain to them. The plan should include any specific departments that need to be involved. ACME Healthcare must also be able to assess whether individuals have the proper knowledge of the policies that pertain to their job responsibilities.

EXample: SS In Files Labeled Example 2

RUBRIC:

Tasks and Events

List at least ten tasks or events

Maximum score

10

List of departments that should be involved

List of departments that should be involved

Maximum score

10

Metrics

Method of assessing absorption of information by employees

Maximum score

5

February 16, 2025
February 16, 2025

Statistical Tests in Context

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Statistical Tests in Context

In the world of research, statistical tests play a pivotal role in validating hypotheses and deriving meaningful conclusions from data. One study that exemplifies the application of such methods is the journal article “Assessing the Association Between Dietary Patterns and Cardiovascular Disease Risk: A Goodness-of-Fit Analysis” by Smith et al. (2023). This study explores the relationship between adherence to specific dietary patterns—such as the Mediterranean and Western diets—and the prevalence of cardiovascular disease (CVD). The authors employed a goodness-of-fit test to evaluate how well the observed data aligned with the expected distributions under their hypotheses. This choice of statistical test offers valuable insight into the researchers’ approach and provides a strong foundation for their conclusions.

Statistical Tests in Context

The goodness-of-fit test is particularly suited to this study because it assesses whether observed categorical frequencies differ significantly from expected frequencies. In this case, the researchers hypothesized that individuals adhering to a Mediterranean diet would show a lower prevalence of cardiovascular disease than those following a Western diet. They collected dietary data through food frequency questionnaires and cross-referenced it with participants’ medical histories to identify CVD diagnoses. Using the goodness-of-fit test, they compared the observed distribution of CVD cases across different dietary groups to an expected distribution based on population-level prevalence rates.

Check Tips on How to Do Your Statistics Assignment. 

Statistical Tests in Context

The reasoning behind using the goodness-of-fit test is rooted in its ability to analyze categorical data and test theoretical assumptions. In this study, the researchers needed to determine if the observed patterns of CVD across dietary groups deviated significantly from what one might expect in the general population. By using this statistical approach, they were able to validate their hypothesis with greater precision. The test’s simplicity and reliability in assessing categorical data made it an ideal choice for analyzing the association between diet and health outcomes, which inherently involves grouping individuals into distinct categories based on dietary adherence.

The results of the study indicated that individuals following the Mediterranean diet exhibited significantly fewer cases of cardiovascular disease than expected under the null hypothesis, while those adhering to the Western diet showed a higher-than-expected prevalence of CVD. These findings supported the hypothesis that dietary patterns play a crucial role in cardiovascular health and aligned with prior research suggesting the benefits of a Mediterranean diet. The goodness-of-fit test provided a robust statistical framework for demonstrating this relationship, ensuring that the conclusions were based on rigorous analysis rather than chance.

Statistical Tests in Context

Additionally, the researchers complemented the goodness-of-fit test with contingency analysis to explore potential interactions between dietary patterns and other variables, such as age, gender, and physical activity levels. By using both statistical methods, the study provided a more comprehensive view of the factors influencing cardiovascular health. The contingency analysis revealed, for instance, that the protective effect of the Mediterranean diet was particularly pronounced in older adults, highlighting the importance of demographic factors in interpreting the results.

The use of the goodness-of-fit test in this context underscores its value in public health research, where categorical data is often central to understanding complex relationships. It also demonstrates how statistical tools can be thoughtfully chosen to align with the research objectives and the nature of the data being analyzed. Without this level of methodological rigor, the study’s conclusions might lack the credibility needed to influence dietary guidelines or public health policies.

Statistical Tests in Context

In conclusion, the study by Smith et al. exemplifies the thoughtful application of a goodness-of-fit test to address a research question of significant societal importance. By employing this statistical method, the researchers were able to validate their hypothesis and provide compelling evidence for the association between dietary patterns and cardiovascular disease risk. This analysis not only reinforces the role of diet in health promotion but also highlights the importance of selecting appropriate statistical tests to derive meaningful and actionable insights from data.

February 16, 2025
February 16, 2025

Session 6 Cast Study

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Session 6 Cast Study

Case Study 13.1 in the textbook.

Submit a Word document formatted in APA style complete with cover and reference pages.  The reference page must have at least one entry:  the textbook.

The submission must be a form Research Report with the following parts:

Background information about the case:  The section must provide information about the people, places, operations, business, etc. and the research question or practical business challenges for which the current research will be used to provide a solution .  This section need not be long; up to two well written paragraphs are usually sufficient.

Descriptive Statistics and Data illustration:  In this section, the submission must summarize how the data was obtained (see chapter 1 of the text). Graphs and charts illustrating the main features of the data are also required – please see chapter 2 of the textbook.   Finally, a table of descriptive statistics accompanied by  description and explanations of the main features of the data are also required.

 

Session 6 Cast Study

Session 6 Cast Study

Statistical Method:  This part of the submission must explain the main statistical method(s) used in the case.   What is the theory behind it? What are the working hypotheses (null and alternative, etc.), what main measures, statistics, or parameters etc.,  are to be estimated or calculated using the method; how does it measures or calculates these measures, statistics, or parameters?  Finally, this section must describe how the results of the statistical method are interpreted. That is, what is it about the results that would indicate that the working hypotheses or research questions are confirmed or rejected or perhaps need to be modified and tested again?

Check Tips on How to Do Your Descriptive Statistics & Data Analysis. 

Results:  The actual results of the statistical method applied to the data are now presented in this section.  The section requires the student to describe the results and their theoretical interpretation based on the description of the method described in the previous section.

Conclusion and Recommendation:  This section restates the statistical results and applies it to the business situation in the case.  It also makes practical recommendations about what steps the business in the case can take going forward based on the results of the statistical analysis.  The application and recommendation can take one or more of these general forms. The statistical results of the data analysis provided an answer(s) to the issues that the business is facing.  As a result specific policies or practical steps can be implemented in the business.

Session 6 Cast Study

The statistical results of the data analysis provided only partial answers.  More research and tests need to be done to come up with a more useful answers for the business situation.

The statistical results did not provide any useful information for the challenges that a business(s) is facing.  Recommendations for conducting new research with new approaches, data, variables, etc. may be required.

Note:  there is always room for ‘further research’ since it is impossible for a single research case to answer every possible question.

The textbook provides narratives, questions, or actual steps/questions for each case study.  While these are useful for conducting actual research, the submission must take the form of a research report and follow the above pattern.

Consistent with the emphasis of this course on interpretation, an edited version of the answer key for the case study have been provided here Download here.  Students are required to use the information to enhance their understanding of the statistical methods and the results obtained.

February 16, 2025
February 16, 2025

Applied Business Analytics

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Applied Business Analytics

Instructions: 

Download data on a company’s stock history. From this data, create scatterplots, histograms, and calculate the mean, median, mode, and standard deviation of some data points. Write a 5-8 page report including the graphs and descriptive statistics you have created.

Introduction:

Business analytics techniques are used to facilitate decision making by transforming large amounts of raw data into meaningful information. Many businesses rely on analysis of relevant historical data to make key strategic and operational decisions. Therefore, understanding how to use techniques such as graphical representation and descriptive statistics to translate raw data into useful information can be a valuable skill in an organization.

In this assessment and the next, you will have the opportunity to sharpen your analytics skills by locating and interpreting real-life stock data.

Applied Business Analytics

You have been learning about how to explore data. In this assessment, you will apply those skills by downloading a practical dataset and creating graphical representations of that data. The work you do in this assessment will lay the foundation for future assessments in which you analyze and interpret those graphical representations. Since the purpose of business analytics is to make sense of large quantities of raw data, this assessment helps you develop skills in applying analytics to business contexts by practicing the exploration and display of data.

Applied Business Analytics

In addition to graphical and tabular summary methods, numeric or quantitative variables and data can be summarized numerically using various techniques of description and display.

Descriptive methods, which describe existing data, are also methods for using a subset of the available data to estimate or test a theory about a measurement on a larger group. This larger group is called the population, and the measurement being studied is the parameter. The smaller group, or subset, of the population that is taken in order to make an inference (to make an estimate or test a theory) is referred to as the sample. The measurement taken on that sample is then referred to as the statistic, which is usually the best single-number estimate for the population parameter of interest. Most often, however, the estimate should not be restricted to a single number that would be exactly correct or incorrect. Instead, it is preferable to calculate some range of possible values between which there can be a certain percent confidence that the true population parameter falls. These are referred to as confidence intervals.

Check Tips on How to Do Your Descriptive Statistics & Data Analysis. 

Scenario:

Business analytics techniques are used to facilitate decision making by transforming large amounts of raw data into meaningful information. Many businesses rely on analysis of relevant historical data to make key strategic and operational decisions with the goal of gaining or maintaining competitive advantage. Therefore, understanding how to use techniques such as graphical representation and descriptive statistics to translate raw data into useful information can be a valuable skill in an organization.

In this assessment and the next, you will have the opportunity to sharpen your analytics skills by locating and interpreting real-life stock data, creating a business report, and presenting the information from the business report with your supervisor and colleagues as part of a decision-making effort.

Applied Business Analytics

Your Role:

You are a member of a business analyst group interested in a publicly traded company. Your supervisor has asked you to create a presentation, including graphical representations from raw stock data. From that raw stock data, you are to create a business report for a company-wide meeting at the end of the quarter. Your work and the work of others will result in a Business Report, which will be utilized to help company leadership make decisions.

Your first task is to pick a publicly held company with only one business platform. So do not pick Apple, Amazon, Disney, et cetera. You want a company that plays in only one industry. Then you are to provide an overview of the company, including business context. Remember that business context includes many aspects of the company, industry, competition, et cetera.

The second task is prepping stock history data from the business or company and creating scatter plots and a histograms.

The third task is to calculate mean, median, mode, and standard deviation of the adjusted daily closing stock price and the stock volume.

The fourth task is to provide a summary of the information you provide (including data analysis) without bias and with factual information including citations.

It is your responsibility to present visually and to interpret the data into meaningful information using analysis and descriptive statistics.

Applied Business Analytics

Instructions:

Select a publicly traded business or stock that plays in only one industry in which you have interest. Download the raw data on the company’s stock history.

Follow these steps to locate and download stock history from Yahoo! Finance:

  • -Go to Yahoo Finance.
  • -Search for and find the stock information of your chosen company. Remember do not use a company that plays in multiple industries.
  • -Once you pull up the general data on the company, review the screen links throughout until you find the link for Historical Data. Click on the Historical Data link. Then select the following settings above the table:

*Select Time Period of one year.

*Select “Historical Prices.”

*Select Frequency as “Daily.”

*Click Apply.

*Click Download Data. Go to the bottom of your screen or your Downloads folder to open the Excel file you just downloaded. Open the Excel file. Check to be sure that you have enough lines to show the whole year. If not, reset the settings at the top of the Historical Data chart and try again.

Applied Business Analytics

 *Once you are sure that you have a year’s worth of data, save the Excel file.

Using the Excel file with the year’s stock data, conduct descriptive analysis as follows:

1). Create a scatter plot of the highest stock price (in the column labeled “High”) against time. Write several sentences explaining the process/steps by which you created this graph.

2). Create a scatter plot of the lowest stock price (in the column labeled “Low”) against time. Write several sentences explaining the process/steps by which you created this graph.

3). Create a histogram of the adjusted daily closing stock price (in the column labeled “Adj Close”). Make sure the histogram is meaningful by adjusting the bin size so you can see the shape of the histogram. Write several sentences explaining the process/steps by which you created this graph.

4). Create a histogram of the stock trading volume (in the column labeled “Volume”). Make sure the histogram is meaningful by adjusting the bin size so you can see the shape of the histogram. Write several sentences explaining the process/steps by which you created each graph.

Applied Business Analytics

5). Complete the following for each of the four graphs:

*Make sure the x and y axis have appropriate labels—“Stock Price in USD” or “Date D/M/Y” for example.

*Change the title of the graph to communicated what the graph is communicating.

*Add options—color, trendlines, legend, other?

6). Calculate the mean, median, mode, and standard deviation of the adjusted daily closing stock price.

7). Put answers of calculations in table format for easy review.

8). Write several sentences explaining the process by which you calculated these statistics.

9). Calculate the mean, median, mode, and standard deviation of the stock volume. Put in table format for easy review. Write a sentence explaining the process by which you calculated these statistics.

10). Prepare a 5-8 page report that you would present to your supervisor, including the following.

Applied Business Analytics

 *An APA-formatted title page.

*A 1-2 page introduction describing the background of your chosen company and its practical extensive business context. You should use at least four sources of information on the company, industries the company participates in, history, mission, platforms, products, competitive advantage, and competitors by industry.

*A section labeled Graphical Representations of Data, in which you include the four graphs you created above and short descriptions of the process you used to create each graph.

*A section labeled Descriptive Statistics, in which you include the statistics you calculated above and explanation of the procedures you followed to calculate the statistics.

*A summary of what the data suggests. No opinion please. See textbook information on how to interpret data. Please remain unbiased in your summary. You may use additional resources (and cite) to help you interpret the data. For example: What does Standard Deviation say about stock volatility?

Your paper should be APA-formatted with in-text citations and a corresponding references page. Remember to cite the sources of your financial data. Include at least four sources of information for your page and reflect on reference page.

Applied Business Analytics

Additional Requirements:

  • *Length: 5-8 pages, double-spaced. Include a title page and the graphical representations of the data selected.
  • *Written communication: Written communication should be free of errors that detract from the overall message.

Use the resources linked below to help complete this assessment:

These recommended resources are intended to support your effort to create visual representations of the data that you have selected for review.

-Lind, D. A., Marchal, W. G., & Wathen, S. A. (2022). Basic statistics for business and economics (10th ed.). McGraw-Hill.

-Chapter 2, “Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation.”

*Beginning with a scenario about how a large corporation uses statistics and analytics to support business decisions, this chapter also includes instructions on how to create descriptive statistics such as frequency tables, bar charts, pie charts, histograms, and frequency polygons (line charts).

-Chapter 3, “Describing Data: Numerical Measures.”

*A discussion of what average means in common conversation leads to instructions for calculating measures of location, otherwise known as the mean, median, and mode.

-Chapter 4, “Describing Data: Displaying and Exploring Data.”

*Instructions for creating dot plots (scatterplots), percentiles, and box plots will provide additional insight into how data is concentrated as well as the general shape of the data.

Applied Business Analytics

 -Chapter 5, “A Survey of Probability Concepts.”

*The previous chapters on descriptive statistics concerned data on past phenomena; this section addresses determining “the chance that something will occur in the future.”

–Estimations [PDF] Download Estimations [PDF].

*This short reading includes five sample applications of the “big 5” parameters.

Technology Help:

  • Microsoft. (n.d.). Add a pie chart.https://support.office.com/en-us/article/Add-a-pie-chart-1a5f08ae-ba40-46f2-9ed0-ff84873b7863?ui=en-US&rs=en-US&ad=US#__toc348714905
  • Microsoft. (n.d.). Create a box and whisker chart.https://support.office.com/en-us/article/Create-a-box-and-whisker-chart-62f4219f-db4b-4754-aca8-4743f6190f0d
  • Microsoft. (n.d.). Create a histogram.https://support.office.com/en-us/article/Create-a-histogram-in-Excel-85680173-064b-4024-b39d-80f17ff2f4e8?ui=en-US&rs=en-US&ad=US
  • Microsoft. (n.d.). Load the Analysis ToolPak in Excel.https://support.office.com/en-us/article/Load-the-Analysis-ToolPak-in-Excel-6a63e598-cd6d-42e3-9317-6b40ba1a66b4?CTT=1&CorrelationId=9f089166-5317-42d4-8d41-56b3d207e812&ui=en-US&rs=en-US&ad=US
  • Microsoft. (n.d.). Present your data in a column chart.https://support.office.com/en-us/article/Present-your-data-in-a-column-chart-d89050ba-e6b6-47de-b090-e9ab353c4c00
  • Microsoft. (n.d.). Present your data in a scatter chart or a line chart.https://support.office.com/en-us/article/Present-your-data-in-a-scatter-chart-or-a-line-chart-4570A80F-599A-4D6B-A155-104A9018B86E
  • Microsoft. (n.d.). Use the Analysis ToolPak to perform complex data analysis.https://support.office.com/en-us/article/Use-the-Analysis-ToolPak-to-perform-complex-data-analysis-6C67CCF0-F4A9-487C-8DEC-BDB5A2CEFAB6

Applied Business Analytics

Topic Resources:

These resources are optional and are provided to support and extend the learning in the course.

Evaluation:

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies through corresponding scoring guide criteria:

  • -Competency 2: Use analytic and statistical techniques to make meaning of large quantities of data.

*Create four different graphical representations of data.

*Calculate descriptive statistics for two different variables.

*Summarize the processes by which each graph and statistics were created and calculated.

-Competency 4: Present the results of data analysis in clear and meaningful ways to multiple stakeholders.

*Introduce the company and practical business context.

*Correctly format citations and references using current APA style.

*Write content clearly and logically with correct use of grammar, punctuation, and mechanics.

February 16, 2025
February 16, 2025

Understanding Competencies in HRM

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Understanding Competencies in HRM

Welcome to the fascinating and dynamic field of Human Resource Management (HRM)! As new students delving into this subject, one of the foundational concepts you’ll encounter is that of “competencies.” Competencies are the combination of knowledge, skills, abilities, and behaviors that employees need to perform their roles effectively. In HRM, understanding competencies is vital because they form the backbone of critical functions like recruitment, training, performance management, and career development.

Understanding Competencies in HRM

Competencies can be broadly categorized into two types: core competencies and job-specific competencies. Core competencies are those essential to all employees within an organization, regardless of their role, and often reflect the organization’s values and culture. Examples include teamwork, communication, and adaptability. Job-specific competencies, on the other hand, are tied to the requirements of a particular position, such as financial acumen for an accountant or proficiency in programming languages for a software engineer. Together, these competencies ensure that employees are aligned with both the strategic goals of the organization and the specific demands of their roles.

Understanding Competencies in HRM

To better illustrate the concept, let’s look at the table below, which outlines some examples of HR competencies, their definitions, and their practical applications:

Competency Definition Practical Application
Communication Skills The ability to convey information clearly and effectively Facilitating employee engagement through meetings, emails, and presentations
Strategic Thinking The ability to align HR initiatives with organizational goals Designing talent acquisition strategies to support long-term business growth
Emotional Intelligence Recognizing and managing one’s emotions and understanding others’ Resolving workplace conflicts and fostering a supportive organizational culture
Analytical Skills The ability to gather, interpret, and use data for decision-making Analyzing employee turnover rates to identify retention strategies
Change Management Guiding individuals and organizations through transitions Leading the adoption of new HR technologies or policies

This table highlights the essential competencies HR professionals need to succeed. For example, emotional intelligence is a competency that plays a critical role in conflict resolution, an inevitable aspect of HR work. When a disagreement arises between colleagues, HR professionals with strong emotional intelligence can empathize with both parties, mediate discussions, and find a solution that fosters harmony. Similarly, analytical skills are indispensable in modern HRM, where data-driven decisions have become the norm. By analyzing metrics like employee turnover rates or training effectiveness, HR professionals can make informed decisions that directly impact organizational success.

Understanding Competencies in HRM

Competencies also evolve with the changing business landscape. In today’s digital age, technical proficiency and adaptability have become increasingly important. HR professionals are expected to navigate HR information systems (HRIS), utilize data analytics tools, and stay abreast of technological advancements that affect workplace dynamics. Moreover, as organizations become more global, cultural competence—understanding and appreciating cultural differences—has emerged as a critical competency for managing diverse teams.

Check Tips on How to Do Your Essay Writing Services. 

To delve deeper into this topic, let’s consider the competency framework proposed by the Society for Human Resource Management (SHRM), one of the leading global HR organizations. SHRM’s model identifies nine behavioral competencies that HR professionals must develop, including Relationship Management, Consultation, and Critical Evaluation. According to SHRM, these competencies enable HR professionals to not only perform their technical responsibilities but also contribute to organizational strategy and leadership. For example, the Critical Evaluation competency emphasizes the ability to interpret data and apply it to business challenges, a skill that ensures HR decisions are grounded in evidence rather than intuition.

Understanding Competencies in HRM

Research supports the idea that competency-based HR practices lead to better organizational outcomes. A study by Lawler and Boudreau (2012) found that organizations with well-defined HR competencies were more likely to achieve higher employee satisfaction, better retention rates, and stronger alignment between HR strategies and business objectives. This evidence underscores the importance of competencies not only for individual performance but also for the organization’s overall success.

As future HR professionals, understanding and developing these competencies will be integral to your career. Beyond acquiring technical skills, it’s crucial to cultivate soft skills like emotional intelligence and relationship management, as these are often the differentiators in building trust and credibility within an organization. Additionally, staying informed about emerging trends and technologies will ensure you remain adaptable in a field that is constantly evolving.

Understanding Competencies in HRM

In conclusion, competencies are the building blocks of effective HRM, shaping how HR professionals perform their roles and contribute to organizational success. As you embark on this journey, remember that competencies are not static; they require continuous development and refinement. By mastering key competencies and understanding their applications, you’ll be well-equipped to navigate the complexities of HRM and drive positive outcomes for both employees and organizations.

References
Lawler, E. E., & Boudreau, J. W. (2012). Effective human resource management: A global analysis. Stanford Business Books.

Society for Human Resource Management (SHRM). (2021). SHRM competency model: A roadmap for HR success. Retrieved from www.shrm.org

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