My reflection on Question 2 in Section B of the second test is presented below. Best of luck in your final exam.
QUESTION 2
Table 1
Results of Multiple Regression
Analysis
(Dependent: Strategy making
process)
--------------------------------------------------------
Variable Beta t
--------------------------------------------------------
Analysis .35**
3.55
Decision making .21* 2.77
Training needs .01 .33
Information seeking .25**
2.90
--------------------------------------------------------
R .66
R square .43
Adjusted R Square .35
F 5.28**
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*p <.05, **p<.01.
The study is about some factors in
strategy making process that contribute to innovation in a firm.
a) Referring to Table 1, illustrate the
relationship established by the results in a theoretical framework.
Suggested answer:
The framework showed that analysis, decision making, training needs and information seeking are expected to explain the firm's strategy making process. The findings proved that both analysis and decision making statistically explained SMP beta = .35 and .25 respectively and statistically significant at p<.01 and decision making (beta =.21) statistically significant at p<.05. However, training needs proved not significant.
b) Interpret coefficient of determination
showed in R square, adjusted R square and F-value in the
regression analysis.
Suggested answer:
The model proved statistically significant at p<.01 as shown in F value. R square showed that the model explained 43 percent change in dependent variable i.e. the SMP in the presence of all independent variables assumed as one single variable. On the other hand, the adjusted square of the model showed 35 percent change in the SMP was explained by multiple IVs comprised of analysis, decision making, training needs and information seeking variables independently.
c) Make recommendation based on your
interpretation of the results.
Suggested answer:
The results help the firm in focusing and acting on specific variables in ensuring the success of their SMP. First is the analysis variable that found explained better SMP, each item of the analysis construct should be the focal point of execution in the firm. Similarly, each construct items of information seeking and decision making variables should be executed in the firm in ensuring the success of SMP.
(20 marks)
