ASSIGNMENT # 01
DUE DATE: 3RD DECEMBER, 2015
Textile industry is considered as the backbone of Pakistan industry, and it is
like the shining star of Pakistani industry in terms of eminence, value and
profitability. Moreover major portion of Pakistani exports are from the textile
related products. But in recent year’s investors and stakeholders are very much
concerned on the declining profitability of textile industry due to numerous
problems of our country like increased cost of raw materials used and drastic
power crisis. Despite of all these severe challenges rigorous competition is still prevailing among the major textile manufacturers of Pakistan.
Safa Textiles Limited (STL) Karachi is a well-known name in the textile
industry of the Pakistan. They have well-equipped stitching and home textile
division, where a vast range of home textile products are manufactured and
exported. STL has recently received a massive order of home textile fabrics
from Russia. Head of Operational Planning & Control department of the
company probed the management that the power shortages in the industrial
sector are hampering their manufacturing. So it was decided that in order to
complete the order within specified time working hours would be increased.
Management accepts his proposal and decides to go for long working hours to
complete order well before deadline. But employees were not cooperating
because they were having some reservations about this decision of top
management, and the result was in delay more problems for the management.
Keeping the above mentioned scenario in mind, you are required to answer
1. Identify the type of the perceptual bias that exists in this given situation
along with its main reasons? (Mark 5)
2. In your opinion, how management of Safa Textiles Limited (STL) can
tackle this situation? Mention at least two strategies. (Mark 5)
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why are members not taking interest in this course?
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Please Discuss here about this assignment.Thanks
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Plz someone discuss..In question 2, one strategy will be "incentive" ..other?
in my opinion u can increase the shifts, extra overtime, hire extra people on temporary bases
i need help in the first question , which type of bias is it?
and the main reasons
1) First Impressions -- We form them almost instantly.
2) Availability -- Things we easily recall are overestimated.
3) Selective Perception -- We see and hear what we expect to. We seek information consistent with our views.
4) Concrete Information -- We weigh more heavily things we experience directly or that are more vivid.
5) Data Presentation -- Information presented first or last is given more weight.
6) Inconsistency -- We believe we are more consistent than we actually are.
7) Law of Small Numbers -- Small samples are assumed valid. A few cases "prove the rule."
8) Complexity -- We tend to simplify, and have trouble handling complex information, especially under time pressure.
9) Gambler's Fallacy -- We tend not to understand the laws of random chance. We believe chances for rare events improve over time, when they don't actually change at all.
10) Negative Information -- We weigh negative information more heavily than positive. We tend to believe negative info.
11) Stereotypes -- We tend to over generalize and categorize.
15) Selective exposure
16) Frame of reference