Mini-Case Sergio Gonzales Is Employed by Bigbux National Bank, One of of the Largest

question 292

Multiple Choice

Mini-Case
Sergio Gonzales is employed by Bigbux National Bank, one of the largest banks in the Midwest. He is a loan officer, specializing in home equity loans. Tio Raul, Sergio's favorite (and wealthiest) uncle, passed away last month and left Sergio a sizable amount of money. Sergio is looking at the best way to invest his newly acquired wealth. He is considering many options, ranging from simply putting the money into a savings account to the possibility of starting his own business. Although his bank job pays well and offers pleasant working conditions, Sergio is frustrated because he has little freedom or flexibility to deal with customers since every decision he makes must be approved by his supervisor. Besides, he's a bit bored and looking for a challenge. He thinks he might get a lot of satisfaction from owning his own business. Sergio has not made a definite decision yet, but has talked to a lot of people searching for a good idea for a new business. If he can come up with an idea he likes, he might just quit his current job and use his inheritance to go into business for himself!
-If Sergio starts his own business, his firm's activities and policies will impact many different groups and individuals, including employees, customers, creditors, suppliers, and people living in the community where his business is located. Which of the following statements represents how Sergio should deal with these various groups? Sergio should:

• A) take the needs of all of these groups into account, and try to satisfy each group as much as possible.
• B) concentrate on meeting the needs of his customers, since they are crucial to the success of his business, but ignore the needs of other groups in order to keep costs low.
• C) satisfy whichever group complains the loudest, using the "squeaky wheel gets the grease" philosophy.
• D) concentrate on maximizing his own profits and let everyone else look out for themselves.

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Definitions:

Reward Allocations

The process of distributing benefits, recognition, or compensation among members of a group or organization based on criteria such as performance, contribution, or need.

Confirmatory Bias

The tendency to search for, interpret, and remember information in a way that confirms one's preconceptions, leading to statistical errors.

Group Disagreement

The occurrence of differing opinions, views, or decisions among members within a group.

Seeking Information

The act of looking for or attempting to acquire data and facts to increase knowledge or understanding.