Problem$-$Solving Application$$A Very Expensive Fantasy

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Social media in the work place can have its advantages and disadvantages. This activity is important because managers must implement ways to regulate social media use in order to maintain employee productivity.

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The goal of this activity is to help you recognize how social media can damage or improve employee productivity.

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Read the case about the impact of fantasy football on work productivity. Then, using the $3-$step problem$-$solving approach, answer the questions that follow.

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Fantasy sports are a well$-$entrenched phenomenon. Tens of millions of people play, and many of them do so at work. Here are some statistics:$1$

$1.$ The U$.$S$.$ Bureau of Labor Statistics $($BLS$)$ estimates that employers should expect to lose approximately one hour of work per week for each employee who plays fantasy football.

$2.$ The Fantasy Sports Trade Association estimates that approximately $57\mathrm{.}4$ million people in the United States and Canada play fantasy football.

$3.$ About two$-$thirds of those players are employed full time, and BLS data indicates they earn an average of almost $$26$ an hour.

$4.$ Given all that, the estimated price tag for productivity lost to fantasy football was close to $$17$ billion in $2016.$ For comparison, consider that the real$-$world NFL took in only a little more than $$13$ billion in revenue that same year.

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Challenger, Gray & Christmas is the research firm that compiled the data on productivity lost to the distractions of fantasy sports leagues. However, its CEO, John Challenger, says there may be a plus side to all the time spent on the game, namely that$$unlike online shopping or reading and writing posts on Facebook$$it does get coworkers talking to each other and perhaps even helps them collaborate better at work. Creativity and morale may also get a boost, says Challenger$\mathrm{.}2$

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Assume that you own a business and know many of your employees play in a fantasy league. Does this information change your attitude about access to and use of social media at work? Why or why not? What would you do in this situation?