Explain the grapevine and how it works, both in terms of its benefits and problems. What are the suggestions for managing a grapevine effectively?
What will be an ideal response?
Answer: The grapevine is the social network of informal communications. Informal networks provide people with information, help them solve problems, and teach them how to do their work. However, the grapevine can be destructive when misinformation proliferates and harms people and operations. What does this mean for you personally? Do not overindulge in gossip, electronic or otherwise, but do not avoid the grapevine, either. Listen, but evaluate before believing what you hear.
The grapevine can be managed in several ways. First, the manager who hears a story that could get out of hand should talk to the key people involved to get the facts and their perspectives. Second, managers can prevent rumors from starting by explaining important events, providing facts, and working to establish open communications and trust over time. These efforts are especially important during times of uncertainty, such as after a merger or layoff or when sales slow down, because rumors increase along with anxiety. Third, neutralize rumors once they have started. Disregard a rumor if it is ridiculous; openly confirm any parts that are true; make public comments ("no comment" is seen as a confirmation of the rumor); deny the rumor if the denial is based in truth (do not make false denials); make sure communications about the issue are consistent; select a spokesperson of appropriate rank and knowledge; and hold town meetings if needed.
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Indicate whether the statement is true or false.
Answer the following statements true (T) or false (F)
1) The percent-of-sales method, used to compute bad debt expense, is also known as the balance sheet approach. 2) The percent-of-sales method calculates bad debts expense as a percentage of net credit sales. 3) The aging-of-receivables method is a balance sheet approach of estimating uncollectible accounts. 4) A company's liquidity can be evaluated by analyzing the company's current assets. 5) Some companies promote and issue their own private label credit cards.
Whilst traditional career success is typically associated with the attainment of ever-greater status and responsibility, the new career is associate with which of the following:
a. psychological success b. monetary reward c. accumulation of power d. stability of employment
Which of the following is NOT an advantage of using infographics?
A. lets firms stand out from competitors B. allow firms to share information about their products C. more fun to read than generic posts D. they are catchy to the eye E. they are more highly sharable