Transaction Management in Database Management System
Keller mgmt 530 final exam guide
1. KELLER MGMT 530 Final Exam Guide
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(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
2. 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.
3. 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.