Examples of Contingency Viewpoint in the following topics:
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- The contingency viewpoint of management proposes that there is no standard for management; instead, management depends on the situation.
- The contingency viewpoint is a more recent development of organizational theory that attempts to integrate a variety of management approaches by proposing that there is no one best way to organize a corporation or lead a company.
- An example of the contingency viewpoint in action is a manager facing a situation with an employee who regularly shows up late to work.
- Under the contingency viewpoint, however, the manager may decide to better understand the situation by talking to the employee about why s/he is late to work and then deciding on the most effective and appropriate course of action.
- A leader's ability to manage under the contingency viewpoint depends largely on the nature of the environment and how the organization relates to the environment.
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- Contingencies are reported as liabilities if it is probable they will incur a loss, and their amounts can be reasonably estimated.
- A loss contingency is less than 50% likely to occur due to a past obligation.
- Gain contingencies are reported on the income statement when they are realized (earned).
- A probable loss contingency can be measured reliably if it can be estimated based on historical information.
- Conservative accounting principles state that companies should report loss contingencies as they occur.
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- Gain contingencies, or possible occurrences of a gain on a claim or obligation involving the entity, are reported when realized (earned).
- The disclosure of gain contingencies is affected by the materiality concept and the conservatism constraint.
- Thus, for a gain contingency, only a realized gain is accrued for and disclosed on the income statement.
- A material gain contingency that is both probable and reasonably estimated can be disclosed in the notes to financial statements.
- Explain how a company reports a gain contingency on their financial statements
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- Persuasive speakers have an ethical duty to consider opposing viewpoints and evidence before being sure that theirs are correct.
- The honest consideration of other viewpoints is an ethical duty if you are a persuasive speaker seeking to convince the audience of something you believe to be true.
- If you are able to consider other viewpoints and still believe in your original view, then you are ethically able to attempt to persuade others.
- As a persuasive speaker, there is always an incentive to invent, or even just fudge evidence so as to strengthen your appeal and weaken opposing viewpoints.
- Explain why considering other viewpoints is considered ethical in public speaking
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- A loss contingency may be incurred by the entity based on the outcome of a future event, such as litigation.
- A loss contingency is incurred by the entity based on the outcome of a future event, such as litigation.
- Loss contingencies can refer to contingent liabilities that may arise from discounted notes receivable, income tax disputes, or penalties that may be assessed because of some past action or failure of another party to pay a debt that a company has guaranteed.
- Unlike gain contingencies, losses are reported immediately as long as they are probable and reasonably estimated.
- Summarize how a company would report a loss contingency on their financial statements
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- Being familiar with oppositional viewpoints is a way of strengthening your understanding of your own position.
- When arguing against a traditional viewpoint, this becomes especially important as you will have a more challenging case to argue.
- While the previous two examples use the addressing of oppositional arguments to provide a framework to the paper, it is important to include a brief engagement with opposing viewpoints in the opening paragraph.
- Doing so gives readers a succinct version of the position that will be articulated in the remainder of the paper, as well as a brief explanation of why that position is stronger than opposing viewpoints.
- It is important to anticipate opposing viewpoints and to respond to them fairly and adequately.
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- Cross tabulation (or crosstabs for short) is a statistical process that summarizes categorical data to create a contingency table.
- Cross tabulation (or crosstabs for short) is a statistical process that summarizes categorical data to create a contingency table.
- For example, combines multiple contingency tables and tables of averages.
- Probability can be expressed easily from the contingency table by the relative frequencies.
- If there is no contingency, we say that the two variables are independent.
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- Randomization methods may also be used for the contingency tables.
- In short, we create a randomized contingency table, then compute a chi-square test statistic.
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- Theories of effective leadership include the trait, contingency, behavioral, and full-range theories.
- Experts have proposed several theories, including the trait, behavioral, contingency, and full-range models of leadership.
- According to this approach, called contingency theory, no single psychological profile or set of enduring traits links directly to effective leadership.
- In other words, contingency theory proposes that effective leadership is contingent on factors independent of an individual leader.
- Fiedler's contingency model of leadership focuses on the interaction of leadership style and the situation (later called situational control).
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- The student will conduct a test for independence using contingency tables.
- Copy the data provided in Probability Topics Practice 1: Contingency Tables into the table below.