Explain the three primary criteria for successful collaboration
What will be an ideal response?
The three primary criteria for successful collaboration are:
1. Successful outcome: Most students are primarily concerned with this criterion. They want to achieve a good outcome, measured by their grade, or they want to get a project done with an acceptable grade while minimizing the effort required. For business professionals, teams need to accomplish their goals.
2. Growth in team capability: Most student teams are short-lived. But, in business, teams often last months or years. With experience, teams can become more effective. Activities are combined or eliminated. Teams also get better as individuals improve at their tasks. Part of that improvement is the learning curve; as someone does something over and over, he or she gets better at it. Team members teach task skills and impart knowledge to one another. Team members also provide perspectives that other team members need.
3. Meaningful and satisfying experience: The nature of team goals is a major factor in making work meaningful. If an individual's work is not only perceived as important, but the person doing that work is also given credit for it, then the experience will be perceived as meaningful. So, recognition for work well done is vitally important for a meaningful work experience.
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The practice of recreational traveling in a way that maximizes the social and economic benefits to the local community and minimizes the negative impact on cultural heritage and the environment is referred to as ________ ________.
Fill in the blank(s) with the appropriate word(s).
The marketing mix consists of:
A. product, price, distribution, and promotion. B. product, price, distribution, and research. C. product, research, distribution, and promotion. D. product, price, research, and promotion.
Lilith promises to buy Marv's handheld game-player for $75. Marv is
A. an executee. B. an offeror. C. a promisee. D. a promisor.
Laila, an Egyptian broker, is currently trying to maximize her profit in the bond market. Four bonds are available for purchase and sale at the bid and ask prices shown in the table below:
Laila can buy up to 1000 units of each bond at the ask price or sell up to 1000 units of each bond at the bid price. During each of the next 3 years, the person who sells a bond will pay the owner of the bond the cash payments shown in the table below:
Laila's goal is to maximize her revenue from selling bonds less her payment for buying bonds, subject to the constraint that after each year's payments are received, her current cash position (due only to cash payments from bonds and not purchases or sales of bonds) is nonnegative. Note that her current cash position can depend on past coupons and that cash accumulated at the end of each year earns 13% annual interest. Determine how to maximize net profit from buying and selling bonds, subject to the constraints previously described. Why do you think we limit the number of units of each bond that can be bought or sold?
What will be an ideal response?