Business Finance
UMass Boston Analyzing Data and Gain Insights Experimentation Paper

University Of Massachusetts Boston

Question Description

I’m working on a Management exercise and need support.

Analyzing the Data and Gain Insights – Experimentation

Paper requirement: In no less than 500 words, double spaced, in APA format

The most accurate experiments work on customers, rather than segments of a markets or region, and are based on observations from their responses. In this Learning Activity, I want you to think like a scientist who is running a business experiment requiring two parts, a control group and a mechanism for feedback.

In no less than 500 words, design an experiment for gathering customer feedback, analyzing that data, and making a market decision based on the observed data. You will be assessed on your approach to the experimentation and the details you provide. The objective is to get you to think about experimentation design in your own organization.

You can reference this article for insight, https://hbr.org/2011/03/a-step-by-step-guide-to-sm...

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Becoming the Evidence-Based Manager BECOMING THE EVIDENCE-BASED MANAGER MAKING THE SCIENCE OF MANAGEMENT WORK FOR YOU GARY P. LATHAM First published by Davies-Black, an imprint of Nicholas Brealey Publishing, in 2009. Hachette Book Group 53 State Street Boston, MA 02109, USA Tel: (617) 523-3801 Carmelite House 50 Victoria Embankment London EC4Y ODZ Tel: 020 3122 6000 www.nicholasbrealey.com Special discounts on bulk quantities of Davies-Black books are available to corporations, professional associations, and other organizations. For details, contact us at 888-273-2539. © Copyright 2009 by Gary Latham. All rights reserved. No portion of this book may be reproduced, stored in a retrieval system, or transmitted in any form or media or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical articles or reviews. Printed in the United States of America 14 13 12 11 10 11 9 8 7 6 5 4 3 2 ISBN: 978-1-47364-352-9 eISBN: 978-0-89106-373-5 Library of Congress Cataloging-in-Publication Data Latham, Gary P. Becoming the evidence-based manager : making the science of management work for you / Gary P. Latham. p. cm. Includes bibliographical references and index. ISBN 978-0-89106-260-8 (hbk.) 1. Employee motivation. 2. Performance. 3. Management. I. Title. HF5549.5.M63L383 2008 658.3′14—dc22 2008052612 CONTENTS Acknowledgments Introduction Chapter 1 Use the Right Tools to Hire High-Performing Employees Chapter 2 Inspire Your Employees to Execute Strategy Chapter 3 Develop and Train to Create a High-Performing Team Chapter 4 Motivate Your Employees to Be High Performers Chapter 5 Instill Resiliency in the Face of Setbacks Chapter 6 Appraise and Coach Your Employees to Be High Performers Chapter 7 The Evidence-Based Manager in Action Notes References About the Author Index ACKNOWLEDGMENTS The following people were invaluable to me in writing this book. The managers in my executive MBA class ensured that I dotted every i and crossed every t. More important, they ensured that what I wrote was practical—helpful to them as leaders in the workplace. After I’d followed their suggestions, three governors on the board of the Center for Creative Leadership, with whom I served two terms—Joseph B. Anderson, chairman and CEO of TAG Holdings, LLC; Naomi Marrow, former VP of HR at Reader’s Digest; and Marc Noel, chairman of the Noel Group, LLC —gave me invaluable feedback. Dr. David Altman, vice president of research and innovation at the center, was also very helpful, as were my research assistants, Coreen Hrabluik and Amanda Shantz, who are now Drs. Hrabluik and Shantz. Lastly, I am indebted to my editor, Laura Lawson, for the ideas and laughter we shared in producing the final copy of this book. INTRODUCTION Think back to when you first became a manager. Whether it was two weeks or twenty years ago, most likely the thrill and exhilaration of the promotion quickly gave way to the sinking realization that leading people is a lot harder than it looks. In fact, it is so hard to be an effective manager that a third or more of new managers fail in their job in less than two years.1 And while management gets easier as one learns the ropes, it never gets easy—I’ve spent a good deal of my working life with senior managers who still struggle with people problems. So, though experience helps, becoming an effective manager isn’t simply a matter of years on the job. What, then, does make for effective management? Effective management is both an art and a science: It results from using solid, proven, tested techniques (the science of management) in an inspiring and engaging way (the art of management). The principles of management science can be taught. They are replicable. The art is in how you apply them. Most books on management focus only on the art. Although the techniques presented in those books often appear factual and promise results if you use a given step-by-step methodology, the techniques themselves are not well researched or grounded in science. Instead, they are based on the authors’ personal experiences as managers, their particular best practices, or plain old-fashioned intuition. Sometimes these methods are transferable to you, the reader; typically they are not. In sum, the advice is hit or miss. Why? Because art and intuition are usually unique to an individual. What works for one manager in one environment (experience and best practices) may not work in another environment, let alone for another manager. The bottom line is that most management books just have too much art and too little science. Though the art and intuition of management do have value, they can seldom be taught or transferred. In contrast, the science of management can be taught and transferred. So it makes a lot more sense— and gives you more return for your time—to focus on tips and techniques for managing others to high performance that are grounded in empirical research. The art of management can seldom be taught. The science of management can be taught. This book was written to underscore the scientific aspect of effective management—what is called evidence-based management—in an artful way. Here, I aim to • Share management techniques that have been proven by valid and reliable research studies to work • Share this information in an engaging way that makes sense to you, the manager My goal is to share with you everything I’ve learned about evidencebased management over the past thirty-six years as an organizational psychologist with one foot planted in the real world of the private and public sectors and the other in the academic arena. As an organizational psychologist, I have conducted countless studies on ways to improve management practices. In my work as a corporate staff psychologist and consultant, I have accumulated years of experience applying the results of psychological research in the workplace. As an HR consultant, I serve as a translator of sorts to help everyday managers become high performers by using evidence-based management practices. In this book, I’ve worked to share the most effective methods for hiring, inspiring, training, motivating, and appraising employees shown by years of research to deliver high performance. As a result, instead of being hit or miss—working for some managers but not others, working in some fields but not others—this book will be right on target for you. It provides you management techniques that really deliver, whether you’re in the private or public sector and no matter what your level of management skill or experience. Historically, managers have not clamored for practices based on evidence, in spite of the quantity of research about which management techniques work well and which do not. This is not because you and other managers don’t want to be great at what you do, and it is not because research isn’t valued. It is just that most managers are simply too busy to keep up-to-date on the latest studies. Sadly, even if you had the time to read the research, you’d find that scientists are rarely good at translating their results into practical recommendations. Yet an emphasis on evidence-based practices is sweeping through the fields of medicine, clinical psychology, education, and architecture. Few of us would expect a neurosurgeon to remove a brain tumor or an architect to design a bridge by drawing on intuition alone. Instead, we expect these professionals to ground their work in practices that have been proven in the past to work. We should expect the same evidence-based standards and guidelines for managers. Evidence-based practices ensure high performance and job satisfaction. They’re incredibly useful in providing hands-on guidance to people who want to engage effectively in their job. Evidence-based practices ensure high performance and job satisfaction. My hope is that this book will further the evidence-based movement in management—that it will stoke your desire to learn about this approach as you discover that evidence-based management practices work. More important, though, I hope that this book will serve as a handbook on evidence-based management techniques for the entire employee life cycle —hiring, inspiring, training, motivating, and appraising employees—a handbook you can return to time and again. Specifically, this book will give you the essential information you need to become an evidence-based manager from the hiring stage to the retention stage—from A to Z. This information will be presented within the following six general lessons of management: Lesson 1: Use the right tools to identify and hire high-performing employees. Lesson 2: Inspire your employees to effectively execute strategy effectively. Lesson 3: Develop and train employees to create a high-performing team. Lesson 4: Motivate your employees to become high performers. Lesson 5: Instill resiliency in the face of setbacks. Lesson 6: Coach, don’t appraise, your employees to be high performers. In themselves, these lessons are not novel. You already know, for example, that you should use valid tools to hire the right people. Yet most line managers don’t know which tools have been proven, through research, to be effective. This book gives that information. Similarly, most managers want to make sure that their team is well trained and prepared for high performance, but they may not have access to training techniques shown by research to be most effective for ensuring that this occurs. In this book, I explain, synthesize, and translate management research results into practical guidelines for handling the difficult areas of management that many managers deal with daily. Some of this research has not seen the light of day in mainstream business writing. In other cases, you are likely to recognize the evidence-based management techniques—such as coaching—but for the first time will understand why coaching is so effective and how to employ coaching as a technique for developing employees to become high performers. It’s the first time, to my knowledge, that someone has attempted to compile a broad overview of the management research of the past half century into a compact, readable, evidence-based handbook for line managers. In my work, I have continually received “Aha!” feedback from managers, employees, audiences, and MBA students when I share these evidence-based management techniques. They make sense, they are simple to understand, and they work in the private and public sectors. Armed with these new tools, managers have been able to boost employee performance significantly and execute desired strategies for their teams with noteworthy success. Good management always requires a lot of hard work and sustained effort, but once evidence-based techniques are mastered, it also can become fun, because employees respond so well to this approach. With employees inspired and engaged, managers don’t have to battle to get desired results: They just happen. Managers can actually enjoy the process of leading others because they know what they’re supposed to be doing, and because their efforts bring tangible results. With employees inspired and engaged, managers don’t have to battle to get desired results. Here’s to your growth as an evidence-based manager and to using management techniques that truly work! Becoming the Evidence-Based Manager 1 USE THE RIGHT TOOLS TO HIRE HIGHPERFORMING EMPLOYEES It’s an understatement to say that hiring the right employees is integral to executing strategy effectively. In fact, as Larry Bossidy, retired CEO of AlliedSignal, says, “In the race, you bet on people, not strategies.”1 Without the right people, any strategy—no matter how promising or well designed—will be rendered useless. With the right people, however, goals get met, strategy gets executed, and organizations soar. For example, in the service industry, it isn’t the CEO’s vision that brings repeat business—it’s the friendliness and helpfulness of the wait staff, desk agents, and parking valets. Bob Ford, a management professor at the University of Central Florida, is fond of saying that at the moment a service is delivered, that one person, that single server, is the organization for the customer. If the car rental clerk loses your reservation, you don’t just blame that clerk, you conclude that the entire company is, at best, mediocre. If that car rental clerk is working for you, then people may conclude that you too accept mediocrity. Consequently, you must pick winners—the kind of people who are able to take decisive action consistent with your team’s vision and goals. These high performers are the ones who do great work despite the ambiguity, complexity, and chaos inherent in organizational life. This chapter focuses on evidence-based methods for selecting highperforming employees who are best suited to the needs of your team. On the basis of empirical research, I recommend four hiring tools, all of which are reliable and valid:2 • Situational interviews • Patterned behavioral description interviews • Job simulations • Realistic job previews The first three tools are useful in predicting which job applicants will perform at high levels and which will not. The fourth enables people who are offered a job to decide if it is right for them. Managers who adopt these four tools will select winners. There are two additional tools I am often asked about—cognitive ability tests and personality tests. They do have some uses, which I explain later, but are less easy to adopt as they require the assistance of a psychologist to administer and score them. WHAT DOESN’T WORK, IN BRIEF The most commonly used interview technique in organizations today—a free-flowing conversation, or what researchers call an unstructured interview—is, ironically, the least effective. The unstructured interview often goes something like this: “Tell me about yourself.” “Where did you go to school?” “How much do you know about our organization?” “Why are you interested in this job opening?” “Do you have any questions for me?” If you correlate how people perform in an unstructured interview with how they perform on the job, you’ll realize you might as well resort to astrology charts. Many studies, including one in the Journal of Occupational Psychology, show that the correlation between how people are assessed in an unstructured interview and how they are assessed on the job is very low.3 This is because in an unstructured interview for a given job • Different applicants are typically asked different questions • The questions are often not directly related to the job • Interviewers are often unable to agree among themselves what constitutes a great response versus a not-so-great response If you were to sit in on any hiring panel in the midst of debating possibly acceptable candidates—whether in the banking world, the health care industry, or the automotive industry—you would find that the difference of opinion on what constitutes great answers (and great candidates) as revealed by the unstructured interview is tremendous. Hence the unstructured interview is not very effective for selecting winners. Even though it’s a favorite in most organizations, you don’t want to use this interview technique—you have much better alternatives. WHAT WORKS, IN BRIEF So throw out the unstructured job interview and replace it with the following research-supported tools for hiring top performers. This combination of tools represents the very best of what research shows about making good hiring decisions. The situational interview, as the name implies, presents people with situations they will encounter on the job. Hence it is extremely effective at predicting how people will perform in given situations. What people say they will do on the job and how they actually behave on the job turn out to have a significant correlation. Research has also shown that the patterned behavioral interview, where you ask applicants how they behaved in the past, is a good predictor of how they will behave in the future. This is because a person’s past behavior predicts future behavior. Job simulations test applicants right now, in real time, to see what they can actually do. Simulations have also been backed by many research studies that show them to be effective in predicting job performance (that is, current behavior in a simulated environment predicts subsequent behavior in similar on-the-job situations). One kind of simulation, the assessment center simulation, has been successful in predicting the job promotions and salary progression of people over a twenty-five-year career. Last, research has revealed the value of a realistic job preview.4 The preview is called realistic because you explain what will be great for an applicant if that person accepts your job offer, and you also explain what job incumbents have found not to be as great. No matter how good your other tools, candidates will always know things about themselves that your selection techniques will not identify. A realistic preview enables candidates to decide whether accepting a job offer is the right decision for them. EFFECTIVE HIRING TOOLS IN PRACTICE These first four tools provide a reliable and valid evidence-based package for identifying and then hiring high-performing employees. The following sections offer practical information on how to use these tools so that you can create a winning team. The Situational Interview The situational interview assesses an applicant’s intentions for dealing with situations likely to arise on the job.5 Given the clear relationship between intentions and subsequent behavior at work, the situational interview should be a staple of every evidence-based manager’s hiring practices. A situational interview is structured so that every candidate answers the same job-related questions. In addition, a behavioral scoring guide made up of illustrative answers is used to assess each applicant’s answer to a question. This type of interview ensures that • Managers get good job-related information from the candidates • Managers have a frame of reference that helps them reliably assess the quality of an interviewee’s response Most important, each question presents a dilemma, as shown below. It is this dilemma that forces applicants to state what they believe they would actually do on the job (that is, their intentions) rather than telling interviewers what they believe the interviewers are hoping to hear. The situational interview should be conducted by two or more people. The interview panel should include the responsible manager and someone from Human Resources. For example, the Weyerhaeuser Company needed to staff a pulp mill. As staff psychologist, I held a focus group with supervisors to describe critical situations that hourly workers deal with in such a mill. We turned these situations into “What would you do?” questions, and we then generated answers that we agreed were highly acceptable, acceptable, or unacceptable. These illustrative answers became our scoring guide. We correlated the scores we gave job applicants’ responses to each situational question with the scores the successful applicants received one year later on the job. Eureka! What they said in the interview correlated with what they did on the job. The dilemma in each question forces applicants to state what they would actually do on the job. Creating a Situational Interview To create a situational interview, take these three steps: 1. Conduct a job analysis. 2. Create situational interview questions that contain a dilemma. 3. Develop a scoring guide. 1. Conduct a job analysis. A job analysis identifies important situations th ...
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Running head: EXPERIMENTATION

Experimentation
Student’s Name
Institutional Affiliation

EXPERIMENTATION

2

Experiments help companies to increase their productivity. Tests make it easy to analyze
data and get the expected conclusion. However, some companies opt for historical transactions,
which is tedious and leads to a biased conclusion. Experimentation requires a control group and a
feedback mechanism to be effective. The selection of the control groups is made through
randomization. The sample is used to weigh the differences in the response of the treatment
group. On the other hand, the feedback mechanism helps to observe the response by the
customers undergoing the treatments. The feedback system can ...

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New York University

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