The document discusses the pros and cons of teamwork, noting that teamwork can increase productivity and collaboration but may also lead to conflicts and reduced individual creativity. While teamwork fosters communication and learning, it also risks delays from conflicts and one team member freeloading on the work of others. In conclusion, teamwork generally improves outcomes when leadership can identify and resolve internal disagreements.
RUNNING HEAD WEEK 3 ASSIGNMENTWEEK 6 ASSIGNMENT2.docx
1. RUNNING HEAD: WEEK 3 ASSIGNMENT
WEEK 6 ASSIGNMENT
2
Assignment
University
DOC 901 – Comprehensive Examination I
Professor:
December 4, 2022
Pros and Cons of Teamwork
Date A successful team dynamic is a crucial component of
every corporation. Collaboration is also defined as "work done
by numerous colleagues, each performing a piece but all putting
personal importance behind the success of the whole." (Merriam
Webster, 2008).
Teamwork increases work productivity. Collaboration
2. among co-workers fosters the development of social networks
and allows for brainstorming, which may lead to various ideas
and solutions for a single problem (O'Neill et al 2013). This
collaboration improves communication and production. Workers
may improve teamwork with various abilities through practical
learning. There is an informational exchange, and it is more
reliable (Tripathy, 2018). Employee interactions are also
improved via Teamworkteamwork. Team members working on a
project "soften" when tasks are completed and feel valued
(Bieliková, M. ,2005) (Bieliková,2005). When everyone
participates, respect and collaboration grow. Also, collaboration
Improves accountability. Each team member becomes
responsible via collaboration, especially those that work hard to
achieve and don't do not want to let their colleagues down (
Team Williams, C. H. 2005) (Williams, 2005). In
contrast to working individually, peer pressure in teams lessens
the impact of low morale.
However, teamwork has its drawbacks. Timing, if done
correctly, and scheduling several meetings could save time
(cite). Conflicts may result from unbalanced teamwork.
Determinations may cause timelines to slip. Creativity might be
lost by teamwork, which could not promote independent
thinking (Kaitlyn & Edward, 2019) why are you using their
forst names?). Fights occur when conflict breaks out, which
could reduce the a team's productivity. People debate about
right and wrong instead of getting things done (
Deichmann, D., & Jensen, M. 2018) (Deichmann &
Jensen, 2018). The whole team feels more stressed and anxious,
which might lead to a decline in morale and productivity.
Presence of sluggish teammate. One team member could want to
profit from the group's achievement. If a person thinks he can
get away with the least amount of work, they may freeload off
the team. If this happens unchecked, the lazy team member may
incite hostility among the other team members, which would
then lower morale and reduce productivity.
3. In conclusion, production, communication, learning, and
collaboration are all improved through teamwork. Conflicts are
common, but they can often be resolved by teamwork. As long
as the leadership can identify, analyse, and resolve any internal
disagreement, the team will work effectively, and output will
increase.
References
Bieliková, M. <- where is the other authors Navrat, P. (2005).
Experiences with designing a team project module for teaching
teamwork to students.
Journal of Computing and Information Technology,
13(1), 1-10.
https://app.amanote.com/v4.0.24/research/note-
taking?resourceId=847R03MBKQvf0Bhir0g3 You need to use
the DOI and not the URL https://doi/org/10.2498/cit.2005.0101
Deichmann, D., & Jensen, M. (2018). I can do that alone… or
not? H ow idea generators juggle between the pros and cons of
teamwork.
4. Strategic Management Journal,
39(2), 458-475.
https://onlinelibrary.wiley.com/doi/epdf/10.1002/smj.2696 <--
You need the DOI – not the URL
https://doi.org/10.1002/smj.2696
Kaitlyn McLeod, B. S., & Edward Felle, M. D. (2019).
Groupthink: What's So Great About Teamwork? Rhode Island
Medical Journal, 102(7), 8-9.
http://www.rimed.org/rimedicaljournal/2019/09/2019-09-08-
commentaries.pdf
You have first names, degrees, and overcapitalized article title,
the journal name and volume number should be in italics
McLeod, K., & Felle, E. (2019). Groupthink: What's so great
about teamwork?
Rhode Island Medical Journal, 102(7), 8-9.
O'Neill, T. A., Allen, N. J., & Hastings, S. E. (2013).
Examining the “pros” and “cons” of team conflict: A team-level
meta-analysis of task, relationship, and process conflict.
Human Performance,
26(3), 236-260.
https://www.tandfonline.com/doi/abs/10.1080/08959285.2013.7
95573 You need the DOI and not the URL
https://doi.org/10.1080/08959285.2013.795573
Tripathy, M. (2018). Building quality teamwork to achieve
excellence in business organizations. International research
journal of management, IT and social sciences, 5(3), 1-7. Team
https://www.researchgate.net/publication/324730422_Building_
quality_teamwork_to_achieve_excellence_in_business_organiza
tions
The journal name is not right and it, along with the volume
number, should be in italics. You are also missing the DOI
5. Tripathy, M. (2018). Building quality teamwork to achieve
excellence in business organizations.
International Research Journal of Management, IT and
Social Sciences, 5(3), 1-7.
https://doi.org/10.21744/irjmis.v5i3.662
Williams, C. H. (2005). Assertive outreach: the team approach:
Caroline Williams discusses the pros and cons of teamwork in
assertive outreach, focusing on the problems facing her team in
one of England's most deprived areas.
mental health practice,
9(2), 38-41. Work, Psychology Today.
https://www.psychologytoday.com/us/basics/teamwork
Hardly anything is right with this
Williams, C. H. (2005). Assertive outreach: the team approach:
Caroline Williams discusses the pros and cons of teamwork in
assertive outreach, focusing on the problems facing her team in
one of England's most deprived areas.
Mental Health Practice,
9(2), 38-41.
https://doi.org/10.7748/MHP2005.10.9.2.38.C1890
At this stage, I should not have to make ANY corrections.
MKT-315-Introduction to Marketing
PEER RESPONSES
In 100 words each, kindly help respond to the 6 peer posts
Assessment Description
What is meant by marketing math in pricing? Discuss the
significance of marketing math in overall marketing success.
Provide an example that supports your ideas. In replies to peers,
provide additional examples that support those posted by your
peers.
Yakima Eatman
6. Marketing math is also significant to the pricing of a good
because they use simple formulas to find important process
points such as the average cost, (
https://www.stubocu.com). Marketing math is what tell
you whether your marketing is working. However, the right
calculations are probably different than what you've
encountered so for in business finance. Marketing is more like
the price that a product can be purchased or sold at. An example
could be customer engagement, the area of marketing metric
consists of metric like conversions, retention and turnover.
Another example could be sales data and performance are also
important metrics to calculate the success of advertising and
marketing approaches, (
https://www.indeed.com).
Yulisa Gutierrez-Medina
Marketing math is in all business. It is math that is used to
make out prices for the products that will be sold in the
business. The owner buys product in bunches and depending on
the products value at the cost that the owner got it the owner
will develop the price they want to sell it. The owner adds up
the material cost, labor cost, and the overhead cost that will
then makeup to the price the owner wants to sell it to the
consumers. For example, where I work at we have many cases,
screen protects, charges, and headphones. The owner buys
bunches for a very good price and he will sell it at a price like a
home charger is $32 and if the customer is not happy with the
price employees are able to drop the price to a reasonable price
to $26 or even make bundles like buy 2 get one free where he
not is also not losing profit. Marketing math has to be done very
smartly because if things are just given at a very low cost the
business will have not profit and eventually fail.
Nicholas McGee
The significance of marketing math allows businesses to gauge
7. marketing contributions, the return on the investment (ROI),
expense to revenue, determine the break-even point, manage
budgeting, and more. It helps marketers and businesses to track
the monetary standpoint of overall revenue in the long run, at a
certain point of time, or for future calculations. This all depends
on the competition, demand, and the needs of the distributors.
Profit can be measured by obtaining the total revenue (TR)
minus the total cost (TC). For example, if Company A makes a
TR of $11,000 weekly and TC of that week amounts to $7,000 a
week, it would make a profit of $4,000 for that given week.
Profit maximization in the long run is key to building a
strong foundation for your business to thrive and price product
more efficiently.
Understanding the
law of demand helps businesses to increase the price of
products and services more effectively by gauging the quantity
demand without falling short and affecting revenue. For
example, something priced at $1 selling 10 units will amount to
$10, raising the price to $1.50 selling 8 units amount to $12,
and a raise to $2 for 6 units amount to a total of $12, and so on.
Marketers use the
break-even point (BEP) to help measure the effects on
profit by utilizing this formula…BEP = Total Fixed Cost (TFC)/
[Unit Selling Price (USP) – Variable Cost Per Unit (VC)]. It
allows marketers to understand the relationship between
revenue and cost to estimate how many units need to be sold
before profits begin. For example, Company B has a TFC of
$16,000 per month with a USP of $16 and a VC of $8. Input
formula… BEP = [16,000/(16-8)] = 2,000 per month.
Measuring
price elasticity of demand (PED) is another marketing
math strategy taken to determine the changes in price and
quantity demand. This will tell marketers how elastic or
8. inelastic their product is. Inelastic goods tend to be necessity
while elastic goods tend to be luxury. The formula used to
determine this is…PED = % change in quantity/% change in
price. Getting a lower PED, means it is inelastic and tends to be
a necessity. When a higher PED is calculated it is most likely an
elastic or luxury product or service. For example, Product C
goes from $20 to $25 the units sold at $20 was 300 and the units
sold at $25 went to 240. When you input the formula… PED =
(60
loss/300)/($5
difference/$20) = 2%/25% = 0.8 considering this
product as a necessity due to the low PED score.
Reference:
GCU Academics - Business. (2018, November 30). V13 Price
and Break Even Analysis [Video]. YouTube.
https://youtu.be/xByyj_ubelY
Kaylin Stanley
Marketing math is the most important part of having any
company become successful. This is important to know how
much money you are able to make off the product being sold.
There are many things that go into making the marketing math a
success. The product must be at an affordable price for
consumers but also enough for the company to continue to
grow. When trying to figure out the math for how much to sell a
product you must think of all possible outcomes. For example,
if i have a new business of making tumblers i know that selling
in bulk would be best. Knowing this i can now focus on how
much i should sell them for. It must be a good deal for the
customers and for my company to make a profit.
Nicholas McGee
The significance of marketing math allows businesses to gauge
marketing contributions, the return on the investment (ROI),
expense to revenue, determine the break-even point, manage
budgeting, and more. It helps marketers and businesses to track
9. the monetary standpoint of overall revenue in the long run, at a
certain point of time, or for future calculations. This all depends
on the competition, demand, and the needs of the distributors.
Profit can be measured by obtaining the total revenue (TR)
minus the total cost (TC). For example, if Company A makes a
TR of $11,000 weekly and TC of that week amounts to $7,000 a
week, it would make a profit of $4,000 for that given week.
Profit maximization in the long run is key to building a
strong foundation for your business to thrive and price product
more efficiently.
Understanding the
law of demand helps businesses to increase the price of
products and services more effectively by gauging the quantity
demand without falling short and affecting revenue. For
example, something priced at $1 selling 10 units will amount to
$10, raising the price to $1.50 selling 8 units amount to $12,
and a raise to $2 for 6 units amount to a total of $12, and so on.
Marketers use the
break-even point (BEP) to help measure the effects on
profit by utilizing this formula…BEP = Total Fixed Cost (TFC)/
[Unit Selling Price (USP) – Variable Cost Per Unit (VC)]. It
allows marketers to understand the relationship between
revenue and cost to estimate how many units need to be sold
before profits begin. For example, Company B has a TFC of
$16,000 per month with a USP of $16 and a VC of $8. Input
formula… BEP = [16,000/(16-8)] = 2,000 per month.
Measuring
price elasticity of demand (PED) is another marketing
math strategy taken to determine the changes in price and
quantity demand. This will tell marketers how elastic or
inelastic their product is. Inelastic goods tend to be necessity
while elastic goods tend to be luxury. The formula used to
determine this is…PED = % change in quantity/% change in
10. price. Getting a lower PED, means it is inelastic and tends to be
a necessity. When a higher PED is calculated it is most likely an
elastic or luxury product or service. For example, Product C
goes from $20 to $25 the units sold at $20 was 300 and the units
sold at $25 went to 240. When you input the formula… PED =
(60
loss/300)/($5
difference/$20) = 2%/25% = 0.8 considering this
product as a necessity due to the low PED score.
Reference:
GCU Academics - Business. (2018, November 30). V13 Price
and Break Even Analysis [Video]. YouTube.
https://youtu.be/xByyj_ubelY
Erica Tubens
In short, marketing math in pricing are prices of goods/services
with intention of driving more consumer sales and revenue.
There are many different tactics and methods that are used to
drive sales, increase revenue, and to become the most chosen
company/brand to a large number of consumers. From “Odd-
Even Pricing” (ex. $19.95) to “Round Promotions” (ex. The
dollar store), there is a wide variety of methods companies take
to ensure they are getting their products out the door and
services used. For example the company I work for, Kendra
Scott, they are using Price Bundling more often than usual for
the holidays where a consumer could pay one fixed price for 2
or more products instead of paying a discount percentage of
each. This has been proven effective for recent consumers to aid
in “thoughtless” gift giving for the holidays where the decision
is made for them and therefore, easier to shop.
Describe how globalization has affected the world economy and
how it has affected your own home country. Use at least six
peer-reviewed sources for each theory.
Home country is Mongolia