trends m1-3

• • a general development or change in a situation or in the way that people are behaving
  • the general movement over time of a statistically detectable change
  • a topic that is the subject of many posts on a social media website or application within a short period of time

  trend
• Elements of a Trend

  • Unique content
  • Timing
  • Virality
  • Compelling influencers
  • Correct distribution network
  • Longevity
• Characteristics of a Trend

  • It has a long staying power and enjoy a long period of popularity.
  • It is accepted by many industries and people.
  • It is rooted on people’s cultural traditions, beliefs, and values.
  • It shows a transitory increase or decrease of a particular idea, event, or phenomenon.
• • a practice or interest followed for a time with exaggerated zeal
  • a style, activity, or interest that is very popular for a short period of time

  Fad
• Guide questions in differentiating a trend from a fad

  • Does it become embedded within culture?
  • Does it affect real change?
  • Does it focus in the long term?
  • Does it change behavior?
  • Does it have multiple articulations?
• It is a usually informally interconnected group or association of persons such as friends or professional colleagues

  Network
• it is a social structure made up of a set of social actors, sets of dyadic ties, and other social interactions between actors

  Social Network
• are formed when the social actors are bound by interpersonal relationship rather than being an acquaintance.

  Social networks
• are bonded by relations or ties that can either strengthen or weaken its members. A strong network allows fast and efficient exchange of information and resources. If the actors or members are aware of the connections that are present in their network, they have more

  opportunities to interact with more people and maximize their activities.

  Networks
• According to Kilduff and Tsai (2003) networks are analyzed in terms of the following

  • Density
  • Hierarchy
  • Complexity
  • Interdependence
  • Embeddedness
• It is measured by the number of connection between actors. A collective number of people in a train station has lower density than people who are at a family reunion. Though more people is in a train station, their interaction is short even if they know each other. In contrast, the members of a family at a reunion is bonded by their interaction and knowledge of each other.

  Density
• Actors can establish relations in other groups in the community rather than establish all of their relationships with members of one group. One of the significant characteristics of network is reciprocity between and among individual actors. There are two (2) types of ties that describe reciprocity in a network: symmetric or reciprocated and asymmetric or

  non reciprocated.

  Hierarchy
• It is the extent to which a link between actors serves a multiplicity of interest in the community. For example, two (2) individuals have a complex relationship if they are bound to each other in different social grounds (e.g. brothers and basketball teammates). Luigi and Carlo interact as siblings at home and teammates in their barangay’s basketball team. They have a higher tie value compared with Klarence and Lawrence who are just officemates.

  Complexity
• It refers to the dependence of two (2) or more people or things on each other. Interdependence promotes cooperation and creates social capital necessary for the progress of the community. Social capital is the accumulated benefits as a result of the maintenance of a positive relationship between groups and associations in the community

  Interdependence
• It refers to the dependence of a phenomenon on its environment which may be defined alternatively in institutional, social, cognitive, or cultural terms. An analysis that is using the concept of embeddedness focus on the different conditions within which various modes of social action take place and upon which they depend

  Embeddedness
• the ability to understand something instinctively, without the need for

  conscious reasoning

  Intuition
• involving or serving as an aid to learning, discovery, or problem-solving by experimental and especially trial-and-error methods

  Heuristic
• Satisficing came from combining the words “satisfying” and “sufficing.” This heuristic is at work when we settle for a decision or a choice that is good enough to satisfy ourselves.

  Satisficing Heuristic
• This is at work when we make decisions or judgments based on what we think is a “sure thing.” Because of this belief, people naturally settle for a sure advantage or even disadvantage than to take risks to get a better advantage or a lesser loss.

  Risk-Aversion Heuristic
• This is at work when we give more weight to disadvantages than advantages in making decisions or judgments. Naturally, people would waive their chance of gaining in order not to lose what they already have.

  Loss-Aversion Heuristic
• This is at work when our belief, that a related story or experience will happen again, affects our decision or judgment.

  Availability Heuristic
• It is sometimes called “gut reaction” or “gut feeling.” This affective response is at work when it brings an immediate positive or negative emotional reaction to our decision or judgment.

  Affect Heuristic
• This heuristic is at work when we make decisions or judgment on the basis of what a word or an idea reminds us of. This association may be beneficial to an individual, as for example, if associating “cancer” with “death” leads you to change your lifestyle, add greens to your diet, and go in for regular checkups.

  Association Heuristic
• This heuristic is at work when we make decisions or judgment on the basis of how we imagine various scenarios will happen. These simulations may help us to prepare and do a better job when the actual moment arrives but they can also lead us to false expectations.

  Simulation Heuristic
• This heuristic is at work when we make decisions or judgment on the basis of a belief that what happened to someone else with whom we have certain similarities will happen to us as well. For example, if Student A believes that he will fail Mathematics due to low assessment scores and poor attendance because Student B failed the subject due to the same reasons, his belief has a high degree of probability. But if the

  consideration is irrelevant, like similarity in height, weight, or zodiac signs, the belief has a low degree of probability

  Similarity Heuristic
• This heuristic is at work when a person uses a specific target number or value as a starting point, known as an anchor, and then adjusts that information until an acceptable value is reached over time. For example, the buyer and the seller is negotiating for a price of a good at a bazaar, let’s say a dress. The seller offered ₱250.00 for the dress, that price will become the anchor of their negotiation.

  Anchoring-and-Adjustment Heuristic
• It assesses what an entity can and cannot do, for factors both internal (strengths and weaknesses) as well as external (opportunities and threats).

  SWOT Analysis
• describe what an organization excels at and separates it from the

  competition.

  Strengths
• these are the things that stop an organization from performing at its

  optimum level.

  Weaknesses
• these are the external factors that an organization can use to give it a

  competitive advantage.

  Opportunities
• refer to factors that have the potential to harm an organization.

  Threats
• It examines the effects of relevant external factors, or the macro environmental factors, on what is being decided on.

  PEST Analysis
• includes the government regulations and legal factors that affect

  the decision-making

  Political
• includes factors like inflation, interest rates, economic growth,

  and business cycle followed in the country

  Economics
• includes demographics, cultural limitations, lifestyle attitude, and

  education

  Social
• includes technological advancements, role of the Internet, and popular gadgets

  Technological
• It calculates the strengths (benefits, advantages) and weaknesses (costs, disadvantages) of each of the alternative solutions given to a problem in monetary values. The calculation for this analysis is specific because it uses monetary values to represent the costs and benefits of a program or an action but there are areas which would not be appropriately measured in terms of monetary value like health and satisfaction.

  Cost-benefit Analysis
• This technique compares the relative cost to the outcomes or relative effects of the course of action taken by a group or an organization. Quality-adjusted life years (QALY) or the improvement in the quality of life given the number of years one is expected to live, can also be used to measure effectiveness. For example, Healthcare Programs A and B have the same cost or monetary value but option A results in greater

  QALY, it is a better choice than program B.

  Cost-effectiveness Analysis
• it is a set of units manifesting certain ties or relationships that exist and operate beyond territorial borders of a particular country. In addition, global networks are made up of dynamic and flexible types of connection between individuals, groups, or organizations that crisscross the world.

  Global Network
• Characteristics of a Global Network

  1. Global networks cross borders and connect to more than one country. Global networks cross borders and connect to more than one country due to the location of its members. The borders being referred to in this situation are not only material but symbolic boundaries as well.