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MGMT 530 Entire Course , Midterm and Final
Exam
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MGMT 530 Week 1 Case Analysis (Conference Decision)
MGMT 530 Week 1 DQ 1 Defining the Problem
MGMT 530 Week 1 DQ 2 Enabling Conditions
MGMT 530 Week 2 DQ 1 Defining Objectives and Alternatives
MGMT 530 Week 2 DQ 2 Intuition
MGMT 530 Week 3 Case Analysis Conference Decision Case, Part 2
MGMT 530 Week 3 DQ 1 Understanding Consequences and Tradeoffs
MGMT 530 Week 3 DQ 2 Decision Making in Your Organization
MGMT 530 Week 4 DQ 1 Defining Uncertainties
MGMT 530 Week 4 DQ 2 Decision Making Styles
MGMT 530 Week 5 Case Analysis Labadee Decision
MGMT 530 Week 5 DQ 1 Risk Tolerance
MGMT 530 Week 5 DQ 2 Sharing Risk with Partners
MGMT 530 Week 6 DQ 1 Linked Decisions
MGMT 530 Week 6 DQ 2 Course Project Presentations
MGMT 530 Week 7 Course Project (US Foods)
MGMT 530 Week 7 DQ 1 Psychological Traps
MGMT 530 Week 7 DQ 2 Estate Case Analysis
MGMT 530 Week 4 Midterm Exam
MGMT 530 Final Exam

MGMT 530 Entire Course
MGMT 530 Week 2 DQ 1 Defining Objectives and Alternatives
MGMT 530 Week 3 Case Analysis Conference Decision Case, Part 2
MGMT 530 Week 3 DQ 1 Understanding Consequences and Tradeoffs
MGMT 530 Week 3 DQ 2 Decision Making in Your Organization
MGMT 530 Week 5 Case Analysis Labadee Decision
MGMT 530 Week 5 DQ 2 Sharing Risk with Partners
MGMT 530 Week 6 DQ 2 Course Project Presentations
MGMT 530 Final Exam

(TCOs A, B, C, D, E, F, G and H) Tidewater Services recently
celebrated its 10th anniversary as a professional services firm that
handles investigations for law firms offering amenities, such as
background checks, surveillance, interviewing of witnesses, crash scene
investigation, and other related services.
The company was founded by Lee Herbert who had extensive
experience working for companies that handle investigative work.
Herbert is more of a people person and is always looking for the next
new client to take on. Admittedly, Herbert had no experience in running
a business when he decided to go out on his own and enlisted the help of
his long time friend, Bradley Simmons.
Simmons has spent his career working for larger corporations in finance
and had no experience in investigative services, but was looking for a
change.
Over the 10 years since the company’s founding, Tidewater Services
struggled at first but slowly grew over the last five years. The more law
firms the company works with, the more cases they receive. The more
cases they receive, the more hours they can bill. Tidewater currently has
six investigators and two clerks in addition to Herbert and Simmons.
Over the years, they have expanded and contracted based on the volume
of business and the local economy.
Based in Norfolk, Virginia, Herbert is really interested in expanding the
business to other major cities in the region, believing that “there are only
so many law firms here in Norfolk.” He feels that if they’ve survived 10
years, then they should continue to focus on growing the business.
Simmons, on the other hand, feels that expansion will put the company
at risk as it takes time to develop a decent client base. They had opened
a second office several years back across town but eventually closed it

when it didn’t generate enough revenue to cover expenses. He’s worried
the expansion may bankrupt the company.
Even though the two are business partners, Herbert is the president and
Simmons the vice president. Herbert asked Simmons to evaluate several
options to further expand the business. From Herbert’s perspective, he
has concluded that three objectives are important in this decision. First,
is to find a city with a large number of Fortune 500 companies, a cost of
living comparable to Norfolk, and a city that is in a reasonable distance
from Norfolk as he and Simmons would be spending a lot of time in the
new office at first. Because both have families with young children,
Herbert feels that the distance is twice as important as the other criteria.
Here is the summary of Simmons’ research.
I. Richmond, Virginia: Number of Fortune 500 Companies: 5; Cost of
Living Comparison: 0.934 (less than Norfolk); Driving Distance: 81
miles
II. Charlotte, North Carolina: Number of Fortune 500 Companies: 7;
Cost of Living Comparison: 0.834 (less than Norfolk); Driving Distance:
283 miles
III. Atlanta, Georgia: Number of Fortune 500 Companies: 10; Cost of
Living Comparison: 0.854 (less than Norfolk); Driving Distance: 503
miles
Question 1. Define the decision problem and the general nature of the
problem. (20 Points)
Question 2. What event triggered
Question 3. Are we imposing any implied constraints on the situation
Question 4. Define the objectives
Question 5. Identify the alternatives
Question 6. Compare and contrast the consequences for all three
alternatives by the fundamental objectives. Rank each alternative using
proportional scoring, include weights on the objectives. Are there any

dominated alternatives that can be eliminated? Are there any even
swaps.
Question 7. What decision-making styles are at work here? What is their
attitude towards risk?
Question 8. Are there any biases in play here that may impact the
effectiveness of the decision?
Question 9. What are the uncertainties for this decision situation? What
are their consequences?
Question 10. Evaluate this decision situation using tradeoffs. What
location should they select? Are there any linked decisions? Discuss any
assumptions as needed.
MGMT 530 Week 1 Case Analysis (Conference
Decision)
Week 1 Case Analysis: Conference Decision Case
Date: September 2, 2005
In less than two weeks, an accounting system user’s conference is
scheduled to be held in New Orleans, Louisiana on September 13–16,
2005. Unfortunately, Hurricane Katrina has struck the city leaving a
wake of destruction. Based on what you see on television, the hotel and

the city cannot possibly accommodate this or any conference for the
foreseeable future.
Approximately 200 attendees are scheduled to attend, flying in from all
over the country. All attendees prepaid their registration fee for the
conference.
With a lot of competition in the marketplace, getting the users to
participate in the annual user’s conference is critical to retain current
customers. During the conference, several product enhancement ideas
are developed by the users, and this input is often used in future releases
of the product.
Potential new customers are invited to the event, and their involvement
often leads to securing new contracts for the accounting system as they
gain confidence in the system, seeing others use it.
As head of the group that puts on the conference, you are faced with
making a determination of what to do with this year’s conference. You
are getting calls from the registered attendees asking what to do.
Senior management feels that the conference is critical to ensure
continued customer engagement and fears that cancelling the conference
altogether will lose the momentum the company has developed over the
past few years.
Other considerations:
• Keeping the original dates and moving to a different city may
drastically increase costs due to the short advanced notice. Will
people cancel because of the higher hotel costs?
• If the date is changed, will the speakers and attendees still be able
to attend?
• Having worked with the local Convention & Visitor’s Bureau and
the hotel, you worry about how their businesses will survive with
all of this destruction and wonder what you can do to help.
For this week’s Case Analysis:
1. Define the decision problem.

2. As part of defining the decision problem, the following questions
should be addressed.
o What is the general nature of the problem?
o What event triggered the situation?
o Are we imposing any constraints on the situation?
o What are the underlying elements of the problem?
o Are there dependencies on other decisions?
Submit your definition of the problem in a MS Word document to the
Week 1 Case Analysis Dropbox. Input your responses in the template
found here. This document is also posted in the Doc Sharing tab.
What is the difference between problem solving and decision making?
What are the key aspects to defining the problem for a decision
situation?
Give an example of a decision problem that you are currently dealing
with.

What role does ability, willingness, insight, and commitment play in the
decision-making process? How can constraints and other underlying
elements complicate the decision-making process?
Relate an experience from your work.with.
MGMT 530 Week 2 Case Analysis (Conference
Decision)
Week 2 Case Analysis: Conference Decision Case
In less than two weeks, an accounting system user’s conference is
scheduled to be held in New Orleans, Louisiana on September 13–16,
2005. Unfortunately, Hurricane Katrina has struck the city leaving a
wake of destruction. Based on what you see on television, the hotel and
the city cannot possibly accommodate this or any conference for the
foreseeable future.
Approximately 200 attendees are scheduled to attend, flying in from all
over the country. All attendees pre-paid their registration fee for the
conference.

With a lot of competition in the marketplace, getting the users to
participate in the annual user’s conference is critical to retain current
customers. During the conference, several product enhancement ideas
are developed by the users, and this input is often used in future releases
of the product.
Potential new customers are invited to the event and their involvement
often leads to securing new contracts for the accounting system as they
gain confidence in the system seeing others use it.
As head of the group that puts on the conference, you are faced with
making a determination of what to do with this year’s conference. You
are getting calls from the registered attendees asking what to do.
Senior management feels that the conference is critical to ensure
continued customer engagement and fears that cancelling the conference
altogether, the company will lose the momentum it has developed over
the past few years.
Other considerations:
• Keeping the original dates and moving to a different city may
drastically increase costs due to the short advanced notice. Will
people cancel because of the higher hotel costs?
• If the date is changed, will the speakers and attendees still be able
to attend?
• Having worked with the local Convention & Visitor’s Bureau and
the hotel, you worry about how their businesses will survive with
all of this destruction and wonder what you can do to help.
Using the same information from last week’s Case Analysis, build on
the work you did last week by identifying the following.
1. Define the objectives for the Conference Decision Case. The
objectives should be separated into fundamental and means
objectives.
2. Identify the alternatives for the case.
For additional resources pertaining to this assignment, please review the
Decision Making Drag and Drop Interactive found under the Week 2
Lecture tab. Additionally, an Overview of Decision Making Objectives

can be found here. An example utilizing fundamental and means
objectives can be found here. These documents can also be found in the
Doc Sharing tab.
found here. This document is also posted in the Doc Sharing tab.
MGMT 530 Week 2 DQ 1 Defining Objectives
and Alternatives
Why is it important to define clear objectives for the decision situation?
How can you ensure that you have identified all the appropriate
alternatives? Give an example of a problem that you are in the process of
deciding or have decided on in the past—identify the objectives and
alternatives.
We will be looking at two key decision-making elements, which are
objectives and alternatives. The objectives will determine the criteria for
evaluating solutions to the defined problem. The alternatives for a
decision situation are the options that need to be considered.
Let us kick off the week by answering the following questions.
When relating objectives to decisions, is it fair to say that the clearest
objectives lead to the easiest decisions?

What role does intuition play in decision making? What role does
quantitative data play in decision making? Identify a decision situation
in which you used both intuition and data for your analysis of the
situation.
For the second discussion, we will analyze the role that intuition plays in
the decision-making process.
OK, I would like to get this politically incorrect idea out of the way from
the start ... As you begin to participate in this topic, please consider and
share your position on whether you believe intuition is more of a female
skill and data analysis more of a male skill?
MGMT 530 Week 3 Case Analysis Conference
Decision Case, Part 2

Two weeks after New Orleans was devastated by Hurricane Katrina, you
made the decision to postpone the conference and select a different city
to hold the conference. Based on your initial objectives and a survey you
took of the registered attendees, you created the following consequence
table based on the information available.
ALTERNATIVES
Cancel
conference
for this year
—schedule
for next year
Keep in New
Orleans, but
schedule for a
later date
(when the
hotels re-open)
Keep same
dates, but
move to
another city
Move to
another
city and
schedule
for a later
date
O
B
J
E
C
T
I
V
E
S
Maximize
attendance
Does not
meet
objective.
Senior
management
stated that
cancelling is
not an option.
Does not meet
objective.
Uncertainty on
when New
Orleans will be
back in
business is too
far off.
Does not
meet
objective.
Cost and
logistics of
finding a new
location and
getting
attendees to
change flights
with such
short notice is
cost
prohibitive.
Meets
objective.
In a survey
of attendees,
they would
be willing to
look at a
new date in
October and
were most
interested in
Las Vegas,
Chicago, or
New York
as
alternative
sites.
Keep
conference
costs at
Does not
meet
objective.
Refunding
Does not meet
objective.
Because of
uncertainty
Does not
meet
objective.
Conference
Meets
objective.
A
preliminary

current
level
registration
fees would
cause a loss
for
conference.
with city, the
registration fees
would need to
be refunded.
would lose
money and
incur
additional
costs for last
minute
scheduling.
survey
shows that
costs would
be similar to
current
budget.
From the survey, you found out that the attendees were willing to still
come to the conference and suggested three cities as possible new
locations for this year’s event.
1. Chicago
2. Las Vegas
3. New York City
As you move forward in locating available hotels and conference
facilities, you formulate the following objectives to select which cities
will be best to hold the rescheduled conference.
• Airfare (the estimated average round trip cost of the attendees)
• Hotel Room Rate (the nightly rate the attendees will pay during the
conference)
• Conference Costs (the costs you will incur for meeting facilities,
reception, registration, etc.)
• Survey Response (you want to factor in how the cities were ranked
based on the survey you conducted.)
Because the budget is tight, you feel that the Conference Cost objective
is twice as important as the other three objectives.
Based on your research, here is the information you gathered on the
cities the user group was interested in.
New Orleans (Not applicable, but used to compare original costs of
conference)
Average Airfare: $300 to $400 (Round trip cost per person)
Hotel Room Rate: $149.00 (Conference rate per room per night)

Conference Costs: $16,000 (Meeting rooms, reception,
refreshments, registration materials, etc.)
Survey Rank Not Applicable
Chicago
Survey Rank 1
New York
Survey Rank 2
Las Vegas
Survey Rank 3
Using this information, create the following.
• A consequence table
• A weighted scoring model
Are there any dominated alternatives that can be eliminated? Are there
any even swaps?
Building a Weighted Scoring Model Video found under the Week 3
Lecture Tab and the Conference Decision Case, Part 2 Video below. A
weighted scoring example is located in Doc Sharing under the name
Sample Decision Problem.
found here. This document is also available in the Doc Sharing tab.

MGMT 530 Week 3 DQ 1 Understanding
Consequences and Tradeoffs
Why can it be difficult to identify consequences for each alternative and
objective? What techniques can be used to simplify the process?
Describe a decision situation in which you made tradeoffs to simplify
the alternatives. Did you use the even-swap method, weighted scoring
model, or another approach?
Our objectives this week are to:
Build a consequence table with accuracy and completeness.
Compare alternatives using a consequence table.
Evaluate alternatives by examining tradeoffs.
Evaluate alternatives by using a weighted scoring model.
Concepts covered this week will help you as you develop alternatives for
your course project.
Please start by answering the main question.
Would you say that past experiences are only loosely good predictors of
future outcomes ....why?

MGMT 530 Week 3 DQ 2 Decision Making in
Your Organization
What process does your organization use to make decisions? Do you
clearly identify the problem, objectives, alternatives, consequences, and
tradeoffs? What special techniques or tools do you use in your process?
In your organizations, what is the general balance of quantitative and
qualitative information used to make decisions? Too much of one or the
other
How does your organization assess uncertainties in your decision-
making process? What are the benefits to using decision trees to assess
uncertainties?

Provide an example where uncertainties played a major role in a
decision situation.
In the context of uncertainty, is there a difference between
'possibility' and 'probability'?
What is your primary decision-making style? What is your manager’s
primary decision-making style? What approaches and tricks have you
learned to persuade your manager?
MGMT 530 Week 4 Midterm Exam
1. (TCO A) Your small services company has outgrown the current
facility after the first two years of a three-year lease. As the operations
manager, you are being held accountable for cancelling orders, and you
are beginning to lose market share due to late deliveries. The goal is to

determine what action to take in the future to improve the situation and
restore sales.
i. What criteria should have been used in the decision-making process
that could have avoided the current situation?
ii. Describe the eight elements for effective decision making used in a
rational decision-making approach, and describe how it could have been
applied seeing this potential crisis in advance.
2. TCO A) Understanding fundamental and means objectives are
important to decision analysis and decision making. As your business
has grown, you are evaluating moving your company to a larger office
closer to several of your key customers and are looking at several
different alternatives.
i. Identify your fundamental objectives.
ii. How would those objectives be used in the decision-making process?
iii. Identify your means objectives.
iv. How would the means objectives be used in the decision-making
process
3. (TCO A) Robin Griffith, Business Manager for Clark Investments, is
considering three new office locations. In trying to decide which
location is the best overall for the company, Robin has concluded that
three criteria are important in this decision. First, of course, is to have a
location in close proximity to key corporate customers. This objective is
most important, twice as important as each of the other two criteria. The
second criterion is to have a location with excellent tenant satisfaction.
The third criterion is for the facility to have additional space to expand
into. The second and third criteria are equally important.
Here is a summary of each of the locations:
1) Shady Pines: 7 corporate accounts within five miles; scored an 80
satisfied/highly satisfied in recent tenant satisfaction poll; 1,000
additional square feet available in the event of a need to expand further.
2) Via Angelina: 5 corporate accounts within five miles; scored an 85
satisfied/highly satisfied in recent tenant satisfaction poll; 2,000
additional square feet available in the event of a need to expand further.
3) The Mercado: 4 corporate accounts within five miles; scored a 75
satisfied/highly satisfied in recent tenant satisfaction poll; no additional

space available.
(a) What is Robin’s problem or opportunity in this situation?
(b) What is the overall objective for Robin’s decision? What are the
fundamental objectives that support the overall objective?
(c) What are Robin’s alternatives for this decision situation?
(d) Evaluate this decision situation using tradeoffs or a weighted scoring
model. Based on that analysis, to which location should Robin select?
4. TCO B) Utilizing intuitive thinking in today’s business environment
is a must according to research and practical experience.
i. Why is intuition important to managers today, and how reliable is it in
decision making?
ii. Develop three approaches for improving one’s intuition to enable
better decision making.
MGMT 530 Week 5 Case Analysis Labadee
Decision
In January 2010, the island nation of Haiti was devastated by an
earthquake.
Royal Caribbean International, a major cruise line, owns a private beach
in Haiti, which is typically a port of call on several of their Caribbean
cruise itineraries. The private port, known as Labadee, is about 80 miles
away from Port au Prince. The beach was unaffected by the quake.
In the days following the earthquake, the company wrestled with several
issues as they determined whether to continue to stop in Labadee or

temporarily abandon the port of call.
Their objectives would be to 1) ensure guest satisfaction; 2) protect the
brand; and 3) maximize profitability.
Some of the consequences they considered as they tried to determine
whether the cruise line should continue to make a stop in Haiti in the
midst of this crisis are as follows.
• Will cruise passengers be interested in relaxing on a beach when
hundreds of thousands are homeless and hungry just 80 miles
away? Could this impact new reservations or cause people to
cancel? Based on research and consulting with others, you believe
there will be minimal impact.
• Because the community near the beach depends financially on the
cruise line for income, would suspending the stop in Haiti make
the country worse off? Based on your analysis, there is a high
likelihood that the area would be negatively impacted if the line
pulled out of Labadee.
• How would the media respond? Would they get bad press for
continuing to stop in Haiti and be perceived as profiting in the
midst of this tragedy, or will the public perception be worse if they
suspend sailing to Haiti during this crisis? You determine that there
is a higher chance that the company would get bad press if the
company suspended services than if they continued to include it on
itineraries.
Using a risk profile such as the one below, define the uncertainties and
make the recommendation for a decision for the Labadee Case.
How to Draw a Simple Decision Tree Video found under the Week 5
Lecture tab, the Developing a Decision Tree Video found under the
Week 4 Lecture tab, and the Labadee Decision Video below.

found here. This document is also available in the Doc Sharing tab.
Describe your risk profile—risk seeking, risk neutral, or risk averse.
What are the pitfalls of your risk attitude? How can knowing your
manager’s desirability curve come in handy during the decision-making
process?
MGMT 530 Week 5 DQ 2 Sharing Risk with
Partners
Describe a decision situation in which you have shared risk with an
internal or external business partner. What were the conditions of the
shared risk? Explain why the arrangement was successful or not.

Is “blame” a risk-mitigator or risk-enhancer?
Describe a decision situation that involved linked decisions. What
flexible plans did you use for the subsequent decision?
MGMT 530 Week 6 DQ 2 Course Project
Presentations
Briefly describe your problem and post a brief PowerPoint presentation
that summarizes your Course Project no later than Tuesday.
Give feedback to (at least) two other students’ presentations for your
remaining posts. Be sure to post on a total of three different days

The objective of the Course Project is to provide you with practice in
creating, justifying, and explaining a decision-making proposal. All
elements involved in the creation of this proposal, from problem
definition through action plan, must be covered. Further, the proposal,
as constructed, must meet the tests of any sound business plan, namely
that it has specific and measurable goals and objectives, clearly defined
activities, stipulated time frames during which those activities will take
place, and clearly defined measurable outcomes.
The subject matter of your paper should be business-oriented in nature
and should avoid decisions that depend largely on intuition to solve.
Although the length of the paper is not predetermined, a 10–15 page
analysis, including data and appendices, is probably correct. You will
also share a summary PowerPoint presentation with fellow students
during the Week 6 Discussion.
The Final Course Project Proposal with the PowerPoint presentation
is due by the end of Week 7 (graded).
Required Outline
The following outline is required for your Course Project.
• Executive Summary (less than one page)
This summary is a short, carefully worded description of the
problem situation that identifies the recommended solution. A brief
justification and explanation of the selection method is to be
included, highlighting factors that contributed to selecting the
recommended alternative.
• Decision Problem Overview
Describe the nature and scope of the decision problem selected, its

history together with causes, and the outcomes of any previous
attempts to deal with it.
In order to define the problem correctly, the following questions should
be addressed.
· What is the general nature of the problem?
· What event triggered the situation?
· Are we imposing any constraints on the situation?
· What are the underlying elements of the problem?
· Are there dependencies on other decisions?
Briefly introduce the key decision elements—objectives, alternatives,
consequences, and uncertainties; details are to be discussed in the
following sections.
• Objectives Statement
Explain each objective in detail. Separate objectives into
fundamental and means objectives. A minimum of three objectives
is required.
• Alternatives
Describe each alternative, and explain how the alternatives differ
from one another. A minimum of three alternatives is required.
• Selection
Describe the alternative recommended and why. Explain the
tradeoffs you utilized or present a weighted scoring model. Explain
why you feel that this report contains sufficient information to
make a decision on the problem. Describe any additional
information that would be useful to have.
• Consequences
Explain how you determined the values for each alternative and
their corresponding objectives. Show your consequence table,
either in this section or as an appendix. Include the bases for

forecasts and any techniques or tools used to estimate
consequences. Discuss the reliability of your predictions. Indicate
what events were considered to be uncertain, explain the
probabilities of their occurrence, and what information you used to
establish your confidence level in these probabilities. A minimum
of two uncertainties is required for the paper.
• Implementation, Monitoring, and Control
This section contains a detailed implementation plan. There will be
an explanation of how the recommended alternative will be
implemented, resources dedicated to accomplishing it, and key
individuals who will be responsible for the plan’s success. Details
should be included on how the plan will be monitored, subsequent
evaluation criteria, and how the plan can be amended.
• Works Cited (at least two external sources should be used)
Presentation
Once you have outlined your paper, you should be ready to begin a
PowerPoint presentation. As you develop the contents of the sections in
your paper, you should extract bullet-point ideas that best express your
intended message. If you prefer, use the slides to brainstorm and
organize your thoughts before writing the paper. Then refer to your
presentation to guide and remind you of the flow of your storyline.
The presentation will be used to showcase your decision problem in one
of the Week 6 Discussion topics, where you will receive feedback from
your fellow students. This exercise will assist you in finalizing your
Course Project prior to submission at the end of Week 7.
A recommended Course Project template can be found here . This
document is also posted in the Doc Sharing tab.

Provide a real-life example of one of the traps discussed in the text or
the lecture. What can be done to avoid that trap in the future?
An interesting human phenomenon is becoming trapped in one's own
imagination of self. It is, of course, very important to manage one's
reputation by comparing and reconciling how others see you with how
you see yourself and want others to see you.
Is there a way to protect one's integrity and remain consistent, yet also
be flexible and adaptable to change and growth?
This week, we move from the theoretical to the real world.
The following group decision problem scenario is outside of the formal

organizational structure but highlights the difficulty in making decisions
in group settings and the need to collectively arrive at a group decision-
making process.
Estate Case Decision Problem Scenario
The matriarch of a family passes away after a long illness, leaving a
house that needs major repair work, a few antiques, and a small
insurance policy.
In her Will, she bequeaths everything equally to her three grown
children (two sons and a daughter), but leaves no instructions on how to
go about the disbursement of the estate.
The three children have drifted apart over the years and are not very
close, but are cordial to one another. The eldest son, who lives locally, is
named the executor of the Will. He is somewhat resentful that he served
as the primary caregiver of the matriarch and the others were less
involved. The other two don't get along very well.
The son that is the executor is not sure what to do, but would like to
hang on to the house for a while until the real estate market improves
and eventually try to sell it for more money than it is worth today.
The daughter thinks that the house should be fixed up with the insurance
money and then sold immediately.
The other son thinks that the house should be sold as is and to not put
any more money into it, splitting the insurance money between the three.
In summary, the facts are as follows.
Objectives
Objective 1—Achieve the highest sale price (twice as important as the
other objectives)

Objective 2—Keep reinvestment in repair and maintenance in house at a
minimum
Objective 3—Complete transaction in the shortest period of time
Alternatives
Alternative 1—Sell the house as is. The real estate agent feels that the
house would sell for $79,000 and could likely sell the house in
approximately one month. No money would be put into fixing up the
house.
Alternative 2—Fix up the house, and then sell. The real estate agent
feels that the house would sell for $96,000 and could likely sell the
house in approximately three months. Approximately $15,000 would be
put into fixing the house.
Alternative 3—Wait until the market improves, then fix up and sell. The
real estate agent feels that the house would sell for $120,000 if the
market improved, but it would take at least one year. Approximately
$15,000 would be put into fixing the house and another $5,000 for
ongoing maintenance and upkeep.
Based on the facts described, address the following.
1. What is the general nature of the problem?
2. What event triggered the situation?
3. Are we imposing any constraints on the situation?
4. What are the underlying elements of the problem?
5. Are there dependencies on other decisions?
6. What are the consequences and tradeoffs?
7. What group decision-making dynamics are in play here?
8. Based on a weighted scoring model, which would be the best
alternative (show your work)?

MGMT 530 Enhance teaching - snaptutorial.com

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