This document summarizes research on potential alternative cities to hold a rescheduled accounting conference after Hurricane Katrina disrupted the original location of New Orleans. Three cities were identified based on a survey of attendees: Chicago, Las Vegas, and New York City. The document presents objective data on airfare, hotel rates, conference costs, and survey responses for each city to evaluate them according to objectives of minimizing costs while maximizing attendance and survey preferences. The conference cost objective is weighted twice as important as the others. One city will be selected based on this analysis to reschedule the conference.
Government Industry Partners - Summit Insight - Why Your Contract Vehicles an...JSchaus & Associates
JSchaus & Associate's Government Industry Partners (GIP) Webinar Series
PUT ON A WEBINAR WITH US!
Share your company content to a live audience of US Federal Government Contractors.
We will promote your webinars through our network, newsletter, social media, and digital marketing efforts reaching 23,000+ subscribers.
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CONTACT US at hello@jenniferschaus.com and ask for our MEDIA KIT.
Government Industry Partners - Summit Insight - Why Your Contract Vehicles an...JSchaus & Associates
JSchaus & Associate's Government Industry Partners (GIP) Webinar Series
PUT ON A WEBINAR WITH US!
Share your company content to a live audience of US Federal Government Contractors.
We will promote your webinars through our network, newsletter, social media, and digital marketing efforts reaching 23,000+ subscribers.
Webinars are live and can be published on our YOUTUBE channel.
CONTACT US at hello@jenniferschaus.com and ask for our MEDIA KIT.
While many legal professionals have seen powerful benefits of the transition to a hybrid/remote practice, there’s always room to improve. And for those who are still operating only out of a physical office space, it can be a daunting leap to make.
Join industry experts to discover how to run a successful virtual law firm. In this webinar, you’ll learn about the:
- Benefits of building a virtual law firm
- Ethical and regulatory requirements to follow
- Technologies to help you work efficiently and elevate the client experience (along with resources to guide you)
Knowledge Congress Revenue Recognition Webcast - Sep. 5, 2012Brian Marshall
Revenue recognition remains to be a topic of perennial interest in 2012 as it affects almost all companies. In an effort to resolve incongruent accounting standards and practices on revenue recognition, FASB and IASB have proposed new revenue recognition standards through an Exposure Draft in 2011. These new standards, if enacted, would result in the most broad reaching and fundamental changes to the recognition of revenue in businesses moving forward.
The Knowledge Group is producing a two-hour LIVE webcast to help companies gain a complete understanding of the nuts and bolts of the proposed standards and its potential impact on their businesses. Changes to Revenue Recognition in 2012 is a must attend event for accountants, finance executives and managers, corporate attorneys and other related professionals.
Real Estate collapsed, Global Stock Market imploded, consumer confidence is waning, sales decline, and production slows. What were the warning signs? When will it end? What should do to get through it, and how will we know that the economy is coming back? A look at the domino effect and response as it applies to reverse logistics.
Our Benchmarking Paper highlights the work Prime Alliance has done over the years with its customers and other lenders. Generally speaking the results and conclusions found here are based on the experience of a segment of the country’s top 500 mortgage lending credit unions. Our intent was to understand pull-through rates, lending productivity and what it costs to close a mortgage. What does it take to maximize the first two while minimizing the third? Read on. We’ll share what we’ve learned from the success of our clients, the most efficient lenders in the industry. For more info: www.nafcu.org/primealliance
SAFEASSIGNCHECKTEST - CSU SAFEASSIGN PLAGIARISM CHECK TOOL
SafeAssign Originality Report Generator I
William Fiedler
on Mon, Aug 27 2018, 9:46 AM
33% highest match
Submission ID: 379b2d26-d065-43d3-b758-c36c7d7e7358
Attachments (1)
· mba 6941 unit VIII reflection Paper.doc 33%
Word Count: 1,397 Attachment ID: 224883277
mba 6941 unit VIII reflection Paper.doc
Running Head: THE PROJECT CLOSURE PHASE 1 THE PROJECT CLOSURE PHASE
2
The Project Closure Phase William Fiedler Columbia Southern University The Project Closure Phase Inside this paperwork, I am going to make a discussion regarding the closing project. I will also extend to discussing the lesson learned towards the end of the project. 1 THE FOURTH AND LAST PROJECT LIFECYCLE STAGE IS THE PROJECT CLOSURE PHASE. IT IS IN THIS STAGE THAT YOU WILL BE ABLE TO YOUR PROJECT FORMALLY CLOSES AFTER THE REPORT SUCCESS LEVEL OF THE SPONSOR YOU HAVE. The exercises that are needed in closing the task in brought in to be by the Project Closure Report and this guarantees the project a conclusion that is embraced productively and comfortably. Once the report is brought into action and acknowledged by the individuals, the reports of the completion of the inside exercises indicated are attempted (Larson, 2014). As a result, the project closure comes into effect formally. 1 AFTER THE CLOSING OF THE TASK IN A PERIOD OF AT LEAST ONE TO THREE MONTHS, THE BUSINESS IS BELIEVED TO START GAINING THE ADVANTAGES GIVEN BY THE PROJECT WHICH MAKE IT MORE ESSENTIAL TO ALLUDE THE POST IMPLEMENTATION REVIEW (PIR) EVALUATION. This provides the business with a wide range of view towards recognizing its achievements level of different tasks as well as offer the education on the future projects that will arise.
2 PROCESS FOR CLOSING THE PROJECT THE PROJECT TRANSITION TASK CONTROL DOCUMENT WILL RECORD THE VICTORIES AND DISAPPOINTMENTS OF THE TASK. It gives a chronicled record of the orchestrated and unique spending plan and schedule, proposals for future endeavors of practically identical size and unpredictability, information on staffing and aptitudes used to meet errand targets and destinations, how the client wants were managed, exercises learned, and an official undertaking close down. One reason for the conclusion understanding system is to offer the sellers a formal warning to the structures that may have been created which has a high expectation that is elegant and commendable or that may have been rejected as a result. If the business does not meet its goals, it ought to make the amendment that hinders them from this achievement, and the individual or the dealer responsible for this should try to fix or eradicate any errors that may have caused it with a formal affirmation (Larson, 2014).
Before the closure of the agreement, all the minor things are fixed, and the competed expectation is to strike the depressed. Over rages of errands, the world has audited quality performance, and the vendor was allowed to influence chan.
Tech M&A Monthly - What To Do When You're Approached - December 2013Corum Group
In today's fast-paced tech M&A environment, more and more firms are being approached about the possibility of a sale, from pre-revenue, even pre-product startups, all the way through the mid-market, to the major approaches that make the news, sometimes it seems like everyone is getting approached. Here at Corum, we're seeing more and more companies coming to us after they have been approached, but only those who manage discussions properly will get a deal done. On Thursday, December 12, we'll help answer the question "What do I do when I've been approached?"
Getting approached is a double edged sword - it means a buyer is interested, but it means they are probably also interested in your competitors. We'll look at the mistakes sellers make when they're first approached, the best strategies for dealing with that first inquiry, and the best methods for turning a single buyer's approach into an auction that will ultimately give you the maximum value and best structure.
Plus, Corum's research team will give their monthly look at the deals, trends and valuations that are driving these approaches across the technology industry.
Chapter 19: Kilgore Custom Milling (300 – 350 Words)
1). Assume that the management team has hired you to advise them on their overall risk profile and has asked you to prepare a SWOT analysis for their review and as input to the upcoming strategic planning session. What would you put into your analysis? Additionally, how does your analysis affect the risk management strategies that Kilgore might choose to utilize?
2). What are the main financial risk management issues that Cathy and the rest of the management team at Kilgore need to focus on?
3). What factors need to be considered when integrating financial risk management into an enterprise risk management framework?
Chapter 18: Blue Wood Chocolates (300 – 350 Words)
1). What are the prospects and consequences for Blue Wood if it carries on the way it has been?
2). What are the main challenges in developing and implementing a risk management framework for Blue Wood? How does the ownership structure affect these challenges?
3). If the company is to develop a risk management framework, who should lead the process? Should a Chief Risk Officer (CRO) be appointed? If so, to whom should he/she report and have access to? How could smaller companies without the resources for a dedicated CRO deal with ERM? What is the role for the Board in such a process?
Title
ABC/123 Version X
1
History and Perspectives Worksheet
PSY/275 Version 4
2
University of Phoenix MaterialHistory and Perspectives Worksheet
Timeline of Events
Complete a timeline of the historical events that show the progression of the treatment of mental illness, based on the historical perspectives discussed in Chapter 1 of Abnormal Psychology in a Changing World. You should have between 5-8 events.
· Event 1
· Event 2
· Event 3
· Event 4
· Event 5
· Event 6
· Event 7
· Event 8
Matching
Review the contemporary perspectives of abnormal behavior listed in Ch. 2 of Abnormal Psychology in a Changing World.
Match the contemporary perspective on the right with the main tenet (idea/proposition) on the left by typing the corresponding letter of the matched perspective in the middle column. Each perspective may be used more than once.
Main Tenet (Idea/Proposition)
Answer
Contemporary Perspective of Abnormal Psychology
1. Unconscious conflicts manifest in symptoms of mental illness.
A. Biological Perspective
2. Psychotropic medications seek to treat mental illness by acting on neurotransmitters that may be malfunctioning.
B. Psychological Perspective – Psychodynamic Models
3. Manipulation of information may cause cognitive distortions. These errors in thinking produce maladaptive behaviors based on a distorted belief that was produced by an activating event.
C. Psychological Perspective – Learning Models
4. Mental illness is a product of learned behavior that is maladaptive.
D. Psychological Perspectives – Humanistic Models
5. The interactions of biological, psychological, and sociocultural factors contribute to abnormal behavior. ...
Case 1 Improving Service Times at Dave’s Burgers Daves .docxwendolynhalbert
Case 1: Improving Service Times at Dave’s Burgers
Dave's Burgers is a fast-food restaurant franchise in Georgia, South Carolina, and North Carolina.
Recently Dave's Burgers has followed the lead of larger franchise restaurants like Burger King,
McDonald's, and Wendy's and constructed drive-through windows at all its locations. However, instead
of making Dave's Burgers more competitive, the drive-through windows have been a source of continual
problems, and it has lost market share to its larger competitors in almost all locations. To identify and
correct the problems top management has selected three of its restaurants (one in each state) as test
sites and has implemented a TQM program at each of them. A quality team made up of employees,
managers, and quality specialists from company headquarters, at the Charlotte, North Carolina, test
restaurant using traditional TQM methods like Pareto charts, check sheets, fishbone diagrams, and
process flowcharts, have determined that the primary problem is slow, erratic service at the drive-
through window. Studies showed that from the time a customer arrived at the window to the time the
order is received averages 2.6 minutes. To be competitive management believes service times should
not exceed 2.0 minutes and ideally should average no more than 1.5 minutes.
The Charlotte Dave's Burgers franchise implemented a number of production process changes to
improve service time at the drive-through window. It provided all employees with more training across
all restaurant functions, improved the headset system, improved the equipment layout, developed
clearer signs for customers, streamlined the menu, and initiated even-dollar (tax inclusive) pricing to
speed the payment process. Most importantly the restaurant installed large, visible electronic timers
that showed how long a customer was at the window. This not only allowed the quality team to
measure service speed but also provided employees with a constant reminder that a customer was
waiting.
These quality improvements were implemented over several months and their effect was immediate.
Service speed was obviously reduced and market share at the Charlotte restaurant increased by 5
percent. To maintain quality service, make sure the service time remained fast, and continue to improve
service, the quality team decided to use a statistical process control chart on a continuing basis. They
collected six service time observations daily over a fifteen-day period, as follows:
Requirements:
• Use Excel to construct an x - chart and an R - chart for this data.
• What conclusions can you draw from the control charts regarding the results of the quality
improvement efforts? Have the goals concerning service times been reached? Is the process in control?
• What would your recommendations be with respect to continuing the quality improvement
program? What other statistical tools might Dave’s Bu ...
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
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While many legal professionals have seen powerful benefits of the transition to a hybrid/remote practice, there’s always room to improve. And for those who are still operating only out of a physical office space, it can be a daunting leap to make.
Join industry experts to discover how to run a successful virtual law firm. In this webinar, you’ll learn about the:
- Benefits of building a virtual law firm
- Ethical and regulatory requirements to follow
- Technologies to help you work efficiently and elevate the client experience (along with resources to guide you)
Knowledge Congress Revenue Recognition Webcast - Sep. 5, 2012Brian Marshall
Revenue recognition remains to be a topic of perennial interest in 2012 as it affects almost all companies. In an effort to resolve incongruent accounting standards and practices on revenue recognition, FASB and IASB have proposed new revenue recognition standards through an Exposure Draft in 2011. These new standards, if enacted, would result in the most broad reaching and fundamental changes to the recognition of revenue in businesses moving forward.
The Knowledge Group is producing a two-hour LIVE webcast to help companies gain a complete understanding of the nuts and bolts of the proposed standards and its potential impact on their businesses. Changes to Revenue Recognition in 2012 is a must attend event for accountants, finance executives and managers, corporate attorneys and other related professionals.
Real Estate collapsed, Global Stock Market imploded, consumer confidence is waning, sales decline, and production slows. What were the warning signs? When will it end? What should do to get through it, and how will we know that the economy is coming back? A look at the domino effect and response as it applies to reverse logistics.
Our Benchmarking Paper highlights the work Prime Alliance has done over the years with its customers and other lenders. Generally speaking the results and conclusions found here are based on the experience of a segment of the country’s top 500 mortgage lending credit unions. Our intent was to understand pull-through rates, lending productivity and what it costs to close a mortgage. What does it take to maximize the first two while minimizing the third? Read on. We’ll share what we’ve learned from the success of our clients, the most efficient lenders in the industry. For more info: www.nafcu.org/primealliance
SAFEASSIGNCHECKTEST - CSU SAFEASSIGN PLAGIARISM CHECK TOOL
SafeAssign Originality Report Generator I
William Fiedler
on Mon, Aug 27 2018, 9:46 AM
33% highest match
Submission ID: 379b2d26-d065-43d3-b758-c36c7d7e7358
Attachments (1)
· mba 6941 unit VIII reflection Paper.doc 33%
Word Count: 1,397 Attachment ID: 224883277
mba 6941 unit VIII reflection Paper.doc
Running Head: THE PROJECT CLOSURE PHASE 1 THE PROJECT CLOSURE PHASE
2
The Project Closure Phase William Fiedler Columbia Southern University The Project Closure Phase Inside this paperwork, I am going to make a discussion regarding the closing project. I will also extend to discussing the lesson learned towards the end of the project. 1 THE FOURTH AND LAST PROJECT LIFECYCLE STAGE IS THE PROJECT CLOSURE PHASE. IT IS IN THIS STAGE THAT YOU WILL BE ABLE TO YOUR PROJECT FORMALLY CLOSES AFTER THE REPORT SUCCESS LEVEL OF THE SPONSOR YOU HAVE. The exercises that are needed in closing the task in brought in to be by the Project Closure Report and this guarantees the project a conclusion that is embraced productively and comfortably. Once the report is brought into action and acknowledged by the individuals, the reports of the completion of the inside exercises indicated are attempted (Larson, 2014). As a result, the project closure comes into effect formally. 1 AFTER THE CLOSING OF THE TASK IN A PERIOD OF AT LEAST ONE TO THREE MONTHS, THE BUSINESS IS BELIEVED TO START GAINING THE ADVANTAGES GIVEN BY THE PROJECT WHICH MAKE IT MORE ESSENTIAL TO ALLUDE THE POST IMPLEMENTATION REVIEW (PIR) EVALUATION. This provides the business with a wide range of view towards recognizing its achievements level of different tasks as well as offer the education on the future projects that will arise.
2 PROCESS FOR CLOSING THE PROJECT THE PROJECT TRANSITION TASK CONTROL DOCUMENT WILL RECORD THE VICTORIES AND DISAPPOINTMENTS OF THE TASK. It gives a chronicled record of the orchestrated and unique spending plan and schedule, proposals for future endeavors of practically identical size and unpredictability, information on staffing and aptitudes used to meet errand targets and destinations, how the client wants were managed, exercises learned, and an official undertaking close down. One reason for the conclusion understanding system is to offer the sellers a formal warning to the structures that may have been created which has a high expectation that is elegant and commendable or that may have been rejected as a result. If the business does not meet its goals, it ought to make the amendment that hinders them from this achievement, and the individual or the dealer responsible for this should try to fix or eradicate any errors that may have caused it with a formal affirmation (Larson, 2014).
Before the closure of the agreement, all the minor things are fixed, and the competed expectation is to strike the depressed. Over rages of errands, the world has audited quality performance, and the vendor was allowed to influence chan.
Tech M&A Monthly - What To Do When You're Approached - December 2013Corum Group
In today's fast-paced tech M&A environment, more and more firms are being approached about the possibility of a sale, from pre-revenue, even pre-product startups, all the way through the mid-market, to the major approaches that make the news, sometimes it seems like everyone is getting approached. Here at Corum, we're seeing more and more companies coming to us after they have been approached, but only those who manage discussions properly will get a deal done. On Thursday, December 12, we'll help answer the question "What do I do when I've been approached?"
Getting approached is a double edged sword - it means a buyer is interested, but it means they are probably also interested in your competitors. We'll look at the mistakes sellers make when they're first approached, the best strategies for dealing with that first inquiry, and the best methods for turning a single buyer's approach into an auction that will ultimately give you the maximum value and best structure.
Plus, Corum's research team will give their monthly look at the deals, trends and valuations that are driving these approaches across the technology industry.
Chapter 19: Kilgore Custom Milling (300 – 350 Words)
1). Assume that the management team has hired you to advise them on their overall risk profile and has asked you to prepare a SWOT analysis for their review and as input to the upcoming strategic planning session. What would you put into your analysis? Additionally, how does your analysis affect the risk management strategies that Kilgore might choose to utilize?
2). What are the main financial risk management issues that Cathy and the rest of the management team at Kilgore need to focus on?
3). What factors need to be considered when integrating financial risk management into an enterprise risk management framework?
Chapter 18: Blue Wood Chocolates (300 – 350 Words)
1). What are the prospects and consequences for Blue Wood if it carries on the way it has been?
2). What are the main challenges in developing and implementing a risk management framework for Blue Wood? How does the ownership structure affect these challenges?
3). If the company is to develop a risk management framework, who should lead the process? Should a Chief Risk Officer (CRO) be appointed? If so, to whom should he/she report and have access to? How could smaller companies without the resources for a dedicated CRO deal with ERM? What is the role for the Board in such a process?
Title
ABC/123 Version X
1
History and Perspectives Worksheet
PSY/275 Version 4
2
University of Phoenix MaterialHistory and Perspectives Worksheet
Timeline of Events
Complete a timeline of the historical events that show the progression of the treatment of mental illness, based on the historical perspectives discussed in Chapter 1 of Abnormal Psychology in a Changing World. You should have between 5-8 events.
· Event 1
· Event 2
· Event 3
· Event 4
· Event 5
· Event 6
· Event 7
· Event 8
Matching
Review the contemporary perspectives of abnormal behavior listed in Ch. 2 of Abnormal Psychology in a Changing World.
Match the contemporary perspective on the right with the main tenet (idea/proposition) on the left by typing the corresponding letter of the matched perspective in the middle column. Each perspective may be used more than once.
Main Tenet (Idea/Proposition)
Answer
Contemporary Perspective of Abnormal Psychology
1. Unconscious conflicts manifest in symptoms of mental illness.
A. Biological Perspective
2. Psychotropic medications seek to treat mental illness by acting on neurotransmitters that may be malfunctioning.
B. Psychological Perspective – Psychodynamic Models
3. Manipulation of information may cause cognitive distortions. These errors in thinking produce maladaptive behaviors based on a distorted belief that was produced by an activating event.
C. Psychological Perspective – Learning Models
4. Mental illness is a product of learned behavior that is maladaptive.
D. Psychological Perspectives – Humanistic Models
5. The interactions of biological, psychological, and sociocultural factors contribute to abnormal behavior. ...
Case 1 Improving Service Times at Dave’s Burgers Daves .docxwendolynhalbert
Case 1: Improving Service Times at Dave’s Burgers
Dave's Burgers is a fast-food restaurant franchise in Georgia, South Carolina, and North Carolina.
Recently Dave's Burgers has followed the lead of larger franchise restaurants like Burger King,
McDonald's, and Wendy's and constructed drive-through windows at all its locations. However, instead
of making Dave's Burgers more competitive, the drive-through windows have been a source of continual
problems, and it has lost market share to its larger competitors in almost all locations. To identify and
correct the problems top management has selected three of its restaurants (one in each state) as test
sites and has implemented a TQM program at each of them. A quality team made up of employees,
managers, and quality specialists from company headquarters, at the Charlotte, North Carolina, test
restaurant using traditional TQM methods like Pareto charts, check sheets, fishbone diagrams, and
process flowcharts, have determined that the primary problem is slow, erratic service at the drive-
through window. Studies showed that from the time a customer arrived at the window to the time the
order is received averages 2.6 minutes. To be competitive management believes service times should
not exceed 2.0 minutes and ideally should average no more than 1.5 minutes.
The Charlotte Dave's Burgers franchise implemented a number of production process changes to
improve service time at the drive-through window. It provided all employees with more training across
all restaurant functions, improved the headset system, improved the equipment layout, developed
clearer signs for customers, streamlined the menu, and initiated even-dollar (tax inclusive) pricing to
speed the payment process. Most importantly the restaurant installed large, visible electronic timers
that showed how long a customer was at the window. This not only allowed the quality team to
measure service speed but also provided employees with a constant reminder that a customer was
waiting.
These quality improvements were implemented over several months and their effect was immediate.
Service speed was obviously reduced and market share at the Charlotte restaurant increased by 5
percent. To maintain quality service, make sure the service time remained fast, and continue to improve
service, the quality team decided to use a statistical process control chart on a continuing basis. They
collected six service time observations daily over a fifteen-day period, as follows:
Requirements:
• Use Excel to construct an x - chart and an R - chart for this data.
• What conclusions can you draw from the control charts regarding the results of the quality
improvement efforts? Have the goals concerning service times been reached? Is the process in control?
• What would your recommendations be with respect to continuing the quality improvement
program? What other statistical tools might Dave’s Bu ...
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
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MGMT 530 Inspiring Innovation / tutorialrank.com
1. MGMT 530 Entire Course + Midterm + Final Exam
For more course tutorials visit
www.tutorialrank.com
Tutorial Purchased: 4 Times, Rating: A+
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 Case Analysis (Conference Decision)
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
2. 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
For more course tutorials visit
www.tutorialrank.com
Tutorial Purchased: 4 Times, Rating: A+
This Tutorial doesn’t contain Midterm and Final Exam
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 Case Analysis (Conference Decision)
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
3. 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 Final Exam
For more course tutorials visit
www.tutorialrank.com
Tutorial Purchased: 4 Times, Rating: A+
(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
4. 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.
5. 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.
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6. MGMT 530 Week 1 Case Analysis (Conference Decision)
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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.
7. 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.
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MGMT 530 Week 1 DQ 1 Defining the Problem
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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.
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MGMT 530 Week 1 DQ 2 Enabling Conditions
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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.
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MGMT 530 Week 2 Case Analysis (Conference Decision)
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Week 2 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 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:
10. • 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.
Submit your definition of the problem in a MS Word document to the Week 2 Case
Analysis Dropbox. Input your responses in the template found here. This document
is also posted in the Doc Sharing tab.
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MGMT 530 Week 2 DQ 1 Defining Objectives and Alternatives
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11. 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?
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MGMT 530 Week 2 DQ 2 Intuition
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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?
12. ****************************************
MGMT 530 Week 3 Case Analysis Conference Decision Case,
Part 2
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Date: September 15, 2005
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
13. 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 current level Does not meet objective.
Refunding registration fees would cause a loss for conference. Does not meet
objective.
Because of uncertainty with city, the registration fees would need to be refunded.
Does not meet objective.
Conference would lose money and incur additional costs for last minute
scheduling. Meets objective.
A preliminary 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
14. 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
Average Airfare: $200 to $300 (Round trip cost per person)
Hotel Room Rate: $149.00 (Conference rate per room per night)
15. Conference Costs: $25,000 (Meeting rooms, reception, refreshments,
registration materials, etc.)
Survey Rank 1
New York
Average Airfare: $300 to $400 (Round trip cost per person)
Hotel Room Rate: $349.00 (Conference rate per room per night)
Conference Costs: $20,000 (Meeting rooms, reception, refreshments,
registration materials, etc.)
Survey Rank 2
Las Vegas
Average Airfare: $200 to $300 (Round trip cost per person)
Hotel Room Rate: $169.00 (Conference rate per room per night)
Conference Costs: $15,000 (Meeting rooms, reception, refreshments,
registration materials, etc.)
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?
For additional resources pertaining to this assignment, please review the 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.
16. Submit your definition of the problem in a MS Word document to the Week 3 Case
Analysis Dropbox. Input your responses in the template found here. This document
is also available in the Doc Sharing tab.
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MGMT 530 Week 3 DQ 1 Understanding Consequences and
Tradeoffs
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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.
17. Would you say that past experiences are only loosely good predictors of future
outcomes ....why?
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MGMT 530 Week 3 DQ 2 Decision Making in Your
Organization
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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
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MGMT 530 Week 4 DQ 1 Defining Uncertainties
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18. 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'?
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MGMT 530 Week 4 DQ 2 Decision Making Styles
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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?
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MGMT 530 Week 4 Midterm Exam
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19. 1. (TCO A) Your small services company has grown rapidly during its first two
years and has outgrown the workspace that you have leased for three years. As the
operations manager, you have been asked to lead a decision-making team to select
a location for the growing company. Your desire is for the team to make an
effective decision.
i. What criteria should your decision-making approach have to ensure that it is
effective?
ii. Describe the eight elements for effective decision making used in a rational
decision-making approach. (Points : 20)
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) Sally Jones, customer service manager for Gecko Insurance, is
considering three job candidates for an open senior customer service representative
position. In trying to decide which candidate is the best overall fit for the job, Sally
has concluded that three criteria are important in this decision. First, of course, is to
have a candidate with at least five years of customer service experience in the car
insurance industry working in a call center. This objective is most important, twice
as important as each of the other two criteria. The second criterion is to have a
candidate with excellent customer service skills. The third criterion is for the
candidate to have some experience in a coaching or supervisory role. Sally will be
losing one of her managers to retirement in a year and wants to prepare this
candidate for that job. The second and third benchmarks are equally important.
Here is a summary of each of the candidates.
20. I) Robert Bentley: seven years of customer service experience; scored an 80 out of
100 on the customer service skills questionnaire; one year of experience training
new customer service representatives.
II) Jane Porsche: five years of customer service experience; scored an 85 out of
100 on the customer service skills questionnaire; two years of supervisory
experience.
III) Paula Mercedes: four years of customer service experience; scored a 75 out of
100 on the customer service skills questionnaire; no experience coaching or
supervising.
i. What is Sally's problem or opportunity in this situation?
ii. What is the overall objective for Sally's decision? What are the fundamental
objectives that support the overall objective?
iii. What are Sally's alternatives for this decision situation?
iv. Evaluate this decision situation using tradeoffs or a weighted scoring model.
Based on that analysis, to which candidate should Sally offer the job? (Points : 50)
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.
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MGMT 530 Week 5 Case Analysis Labadee Decision
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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.
22. For additional resources pertaining to this assignment, please review the 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.
Submit your definition of the problem in a MS Word document to the Week 5 Case
Analysis Dropbox. Input your responses in the template found here. This document
is also available in the Doc Sharing tab.
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MGMT 530 Week 5 DQ 1 Risk Tolerance
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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?
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MGMT 530 Week 5 DQ 2 Sharing Risk with Partners
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23. 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?
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MGMT 530 Week 6 DQ 1 Linked Decisions
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Describe a decision situation that involved linked decisions. What flexible plans
did you use for the subsequent decision?
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MGMT 530 Week 6 DQ 2 Course Project Presentations
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Briefly describe your problem and post a brief PowerPoint presentation that
summarizes your Course Project no later than Tuesday.
24. Give feedback to (at least) two other students’ presentations for your remaining
posts. Be sure to post on a total of three different days
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MGMT 530 Week 7 Course Project (US Foods)
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Objectives
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.
25. • 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
26. 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.
27. A recommended Course Project template can be found here . This document is also
posted in the Doc Sharing tab.
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MGMT 530 Week 7 DQ 1 Psychological Traps
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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?
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MGMT 530 Week 7 DQ 2 Estate Case Analysis
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28. 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
29. 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)?
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