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Can both small and large organizations implement centralized purchasing, or is that a function of organization size? Explain your answer.

Ans; Small and large organizations both can benefit from the implementation of centralized purchasing. Centralized purchasing has several advantages. It helps in getting lower prices on products/components compared to decentralized units by combining orders into a large order. Centralized purchasing is handled by specialists in purchasing department and these specilists are able to concentrate their efforts on relatively few items instead of spreading themselves across many items. Small organizations as well as large organizations can benefit from the economies of scale in ordering. The duplication of efforts in buying function is eliminated with the centralized purchasing, its cost will be relatively less and it will be managed efficiently. This is possible in both smaller and larger organizations with the centralized purchasing. Bulk buying by the organizations  give the bargaining position of the buyer. It also reduces the inventory carrying costs. Through centralized purchasing, the minimum level of inventory are not maintained at different centers but at centralized center which reduce investments in inventories along with the other incidental storing costs. The central buying staff manages the stock levels, recording material usage, lead time and prices effectively. The receiving of large supply through consolidated orders reduces the transport cost per unit. The cost of order processing such as order placing, receiving, inspection, accounts etc are reduced substantially due to few orders of large quantities. The inter departmental requirements of the materials can be easily adjusted. Scarce materials can be allocated according to the economical advantage. So, the centralized purchasing is beneficial to both large and small organizations.

Discuss what the U.S. economy might be like if there were absolutely no restrictions on transactions between countries Answer

Discuss what the U.S. economy might be like if there were absolutely no restrictions on transactions between countries. Explain your rationale in your response.

Generally, Free trade leads to the most efficient use of world resources and would maximize world welfare. However, industrial countries invariably impose tariffs or other trade restrictions to protect some industry. If there is no trade restrcitions between countries, it would lead to import of many cheap and labour intensive products and services into US economy which could be counter productive for its domestic industries. With the current trade balance issue in US, this would further aggravate the balance of payment issue and may further create trade deficit for US. This is because of the comparative advantage. If I am good at doing something, obviously, I can produce that at lower cost and give better productivity. This will also make sure that I am able to use the labour, capital in the most efficient ways and so it leads to every country maximizing their productivity with minimum cost. This will lead to lower product prices and maximum value to the end customer. Trade lends itself to lower per unit cost, increased productivity, more efficiency, and increased economic growth for both countries. If I can’t produce this good myself, why not purchase it for a fraction of the amount I would have spent producing it myself, and use the resources and capital I would have spend doing something I am better at.

 

•Describe the different types of economic indicators to determine which single indicator provides the most useful information to the greatest number of stakeholders. Explain your rationale in your response.

 

Leading economic indicators predict a change in economy. A lagging indicator is one that follows changes in economy. Unemployment is one of the most popular lagging indicators. If the unemployment rate is rising, it indicates that the economy has been doing poorly. Coincident economic indicators occur at the same time as the conditions they signify. Personal income is a coincidental indicator for the economy. According to me, Coincident economic indicator e.g. personal income provides the most useful information to greatest number of stakeholders e.g. industries, public at large, US Government etc.

 

Discuss the concept of alignment in the supply chain process Answer

Discuss the concept of alignment in the supply chain process. When transporting a product, is the supply chain alignment different for different products such as soft drinks versus clothing?  How does the alignment affect the organization’s logistics strategy?   Respond to at least two of your fellow classmates’ postings.

 

Supply chain alignment is the ability to have common and shared interests across the supply chain including vendors and customers.  Alignment is the most critical element to a supply chain process.  The concept of alignment in the supply chain process is the ability to develop common and shared interests that aid in supplying process.  No single organization has the power over alignment.  Research shows that supply chain process does not exist just from nowhere. In order to achieve alignment in the process of supply chain, involved parties must interact and actively respond to the situation.  Lack of interaction has been the major problem in the concept of alignment in the supply chain process.  In order to effectively realize the concept of alignment in the supply chain process parties should ensure that they have responded in the right manner to the situation.

Alignments are different from company to company.  Wal-Mart’s supply chain probably wouldn’t be quite right for Nordstrom, or vice versa, and either one might be great. We can see that principle in changes at Dell, where it once promoted a “make-to-order” supply chain process and there factories turned out not to be so well aligned with where Dell the company wanted to go.

Transportation

In the process of transporting products, there are different factors that should be applied at different products. Transporting cloths is much different as compared to transporting soft drinks and things like those. This means that supply chain alignment will be different simply because the process of transporting and distribution will not be the same.  In the case of soft drinks, producing companies allow local parties to actively participate in the distribution process simply because they have the knowledge of the population and culture allowing them to develop an understanding of how they consume their products.

When discussing the difference between soft drinks and clothing; the manufacturer has to ensure that the bottles have been used and redelivered to in its right nature.  This is to ensure that the bottled can be recycled and redistributed to the consumers.  When dealing with clothing the parties involved are not interested or they do not care about the end result of the clothing once it is sold and taken out of the store.  They are only concerned with making a profit to increase its revenue.

Reference

Harrison, A. & van Hoek, R. (2011). Logistics management and strategy: Competing through the supply chain (4th ed). London, England: Prentice Hall Financial Times.

Gattorna, J. (2010). Strategic Supply Chain Alignment: Best Practice in Supply Chain Management: Gower Publishing Ltd.

Describe the history and evolution of health care economics and the timeline of health care funding Answer

Individual Assignment: Economic Terms and Health Care History
• Resource: Economic Terms and Health Care History grading criteria on the student website.
• Complete the Economic Terms Exercise in Week One of the student website.
Write a 700- to 1,050-word paper in which you include the following:
Describe the history and evolution of health care economics and the timeline of health care funding, using the defined terms.
Include two outside resources.
Format your paper consistent with APA guidelines.

 

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ACC 556 Report on Financial Statement Fraud Scheme Case Study Answer

Memo

To: The Management

From: Forensic Auditor

Date: 12/19/2011

Subject: Case Study on the Importance of Timing and Financial Statement Fraud Scheme

As our company is in process of conducting investigation to detect any financial statement fraud or abuse, I have come across the case where expenses were recorded in the financial statement under the period it was disbursed to vendor and actual services occurred in next or other financial year period. It’s against the regulation of SEC and GAAP guidelines. In this particular case the repair were completed in current year and vendor was prepaid for services in full last year financial period, which a violation by recording expenses in the wrong period. No one took the funds and commit fraud but it shows inaccurate expenses and revenue in financial statement for both current and past years. It was done to maintain the repair budget for last year as there was room to spend more last year , so the plant supervisor and purchase manager decided to pay in advance last year and actual services were occurred this year.

As per scope of examination a company can lose a substantial amount of revenue through occupational fraud and abuse. There is several deterrence methods can be implemented by a company to avoid frauds and abuse by employees. This misleading financial statement fraud may impact our company’s investment potential, credit worthiness, business operation, and employee morale (Wells, 2005). The SEC Acts of 1933 and 1934 were passed by Congress of United States to provide sources of potential liability for accountants to ensure protection for investors and for facilitation of orderly capital markets (Lowers, Ramsey, Sinason & Strawser, 2007). These acts enforce accountability on accountants to practice integrity when working for clients and financial institutions by reporting misstatement disclosures in financial statements.

As a forensic auditor I collect evidence from company’s employees, customers, vendors, and anonymous sources. The sampling tools and techniques used in this investigation consists systematic random selection of data from selected sources. The forensic accountant use computer forensics, data analytics and interviews to allow them to assemble much of the required evidence for an investigation. This abuse was detected when we see the invoice of heavy amount paid by end of the last year without any inspection report or repair completion document in file. The further investigation showed it was done later this year. No employee took any funds to commit financial fraud or larceny but the financial statement were misleading to the users of those statements. A company may experience such type of abuse or corruption schemes developed at any given time, more than one area or all over the company. Corruption can be performed by fraudster employees who intentionally and wrongfully use their influence to gain personal financial gain from company business transaction.   It can be limited to a particular department or it may exist in all structural levels.

It is vital for a company to review financial status routinely to ensure proper accounting and reporting procedures are followed in entirety of company business transactions. It is extremely important to review before an end of year transactions with heavy amounts to ensure validity of amount and services occurred in that financial year. There are many other red flags an investigator or auditor can find to detect such recording of expenses in wrong period. For example when there is an abnormal growth in number of day’s sales in receivable or decline in day’s purchases in accounts payable. These abnormalities and abuse can be avoided through reviewing acquisitions journal, general ledger and accounts payable master file to ensure that there are no large or unusual amounts. Also review vendors’ invoices, receiving reports, purchase orders and purchase requisitions to verify that they are valid and are for reasonable amounts. Trace inventory acquisitions to the inventory master file to verify that items recorded as inventory are all valid. Trace receiving reports and vendors’ invoices to the acquisitions journal to verify that all received goods have been properly recorded. Compare transactions recorded in the acquisitions journal to the vendors’ invoices, receiving reports, purchase orders, and purchase requisitions to verify that they have been recorded at their correct amounts, date, and quantities.

Other factors that aided in this investigation are from checking cash, and disbursement journal entries to be dated with the date of the check. The related monthly general ledger summary entries shall carry the date of the month summarized. Procedures that need to be implemented to ensure that fraudulent processing of vendor invoices does not exists would consist of:

  • Only original invoices being processed for payment
  • Proper authorization obtained for price differences on invoices
  • Proper authorization obtained for quantity differences on invoices
  • Invoices received from authorized vendors
  • Check stock should have pre-printed sequential numbers and logged in a register
  • Separation of duty for printing and mailing of vendor checks
  • Separation of duty for computer vendor master’s listing and updates
  • Ensure merchandise is properly delivered to a company facility.
  • Reviewing general ledger entries for unusual amount and date of the year.

 

The substantive procedures to test effectiveness of internal controls for recording expense is to examine accounting records, reports, documents, control related activities, and client procedures. The implementation of above mentioned procedures will decrease the risk of fraud and abuse in an organization.

 

References:

Wells, J. T. (2005). Principles of Fraud Examination. Hoboken, NJ: McGraw-Hill.

Mulford, C. W., & Comiskey, E. E. (2002). The Financial Numbers Game. Hoboken, NJ: John Wiley & Sons, Inc.

The two different approaches to load work centers in job-shop scheduling Answer

1. (TCO 4) The two different approaches to load work centers in job-shop scheduling are (Points : 5)

load charts and schedule charts. Gantt charts and assignment method. infinite loading and finite loading. linear programming and makespan. None of the above

 

 

 

2. (TCO 2) The priority rule where jobs are processed according to the smallest ratio of due date to processing time is (Points : 5)

CR. EEDD. FCFS. S/O. SPT.

 

 

 

 

3. (TCO 2) A scheduling rule used for sequencing jobs through two work centers is (Points : 5)

the critical ratio rule. the Johnson’s rule. the slack per operation rule. the shortest processing time rule. the Pareto rule.

 

 

 

 

4. (TCO 3) The owner and operator of the local franchise of Handyman, Inc., has four jobs to do today, shown in the order they were received: Job Processing Time (hrs) Due (hrs from now) ————————————————————————————————- W 4 4 X 3 5 Y 2 2 Z 1 1 If he uses the first-come, first-served (FCFS) priority rule to schedule these jobs, what will be the average completion time? (Points : 5)

7.5 hours 5 hours 3 hours 2.5 hours 2 hours

 

 

 

 

5. (TCO 5) The ultimate goal of JIT operations is to have (Points : 5)

no in-process inventories. cross-trained workers capable of handling every process. a smooth, rapid flow of materials through the system. no setup times. All of the above

 

 

 

6. (TCO 6) Building up an inventory of standard parts or modules instead of immediately producing the finished end items is the essence of (Points : 5)

delayed differentiation. kanban. autonomation. andon. matrix management.

 

 

7. (TCO 7) A kanban card is used to signal that (Points : 5)

work is needed at the work center. work is ready to be moved to the next station. a worker has run out of parts needed for further processing. a machine has broken down and needs immediate attention. a machine is ready for preventive maintenance.

 

 

8. (TCO 10) The type of processing system that is used for highly standardized products is (Points : 5)

continuous. intermittent. project. batch. unit.

The Mayor of a large city was given a free membership in an exclusive golf club Answer

The Mayor of a large city was given a free membership in an exclusive golf club Answer

In writing a paper about all three of them individually, identify the consequences of the actions taken, and then determine whether the actions taken represented a greater good, who would benefit from the good, and whether the consequences ethically justify the decisions and actions.

1.The Mayor of a large city was given a free membership in an exclusive golf club by people who have received several city contracts. He also accepted gifts from organizations that have not done business with the City but might in the future. The gifts ranged from $200 tickets to professional sports events to designer watches and jewelry.

2. A college instructor is pursuing her doctorate in night school. To gain extra time for her own studies, she gives her students the same lectures, the same assignments, and the same examinations semester after semester without the slightest effort to improve them.

3. Todd and Edna have been married for three years. They have had serious personal problems. Edna is a heavy drinker, and Todd cannot keep a job. Also, they have bickered and fought constantly since their marriage. Deciding that the way to overcome their problems is to have a child, they stop practicing birth control, and Edna becomes pregnant.

Write an answer to all three parts. The paper length should be about two pages double spaced. How would Locke have addressed or solved the problem? (John Locke disagreed, and set forth the view that the state exists to preserve the natural rights of its citizens. When governments fail in that task, citizens have the right—and sometimes the duty—to withdraw their support and even to rebel ) Explain how his ethics and the answer he may have given are different or the same as yours.

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Jennifer Trucking Company operates a large rig transportation business in Texas that transports locally grown vegetables Answer

Production Cost Analysis and Estimation Applied Problems Please, complete the following 3 applied problems in a Word or Excel document. Show all your calculations and explain your results. Submit your assignment in the drop box by using the Assignment Submission button.

  1. Jennifer Trucking Company operates a large rig transportation business in Texas that transports locally grown vegetables to San Diego, California. The company owns 5 large rigs and hires local drivers paid fixed salaries monthly, regardless of the number of trips or tons of cargo that each driver transports each month. The below table presents details about the number of drivers and the total cargo transported by the company at different staff levels.
Drivers employed Total Cargo Transported (tons)
1

2

3

4

5

6

7

8

5

12

21

32

40

46

51

50

  1. Which inputs are fixed and which are variable in the production function of Jennifer Trucking Company? Over what ranges do there appear to be increasing, constant and/or diminishing returns to the number of drivers employed?Fixed variable in the production function of Jennifer Trucking Company – Drivers paid fixed salaries monthly, Nos. of Rigs.Ranges in which there appear to be increasing returns to the number of drivers employed are: from Drivers employed ranging from 1 through 4.
  2.  
  3. Variable varying in the production function of Jennifer Trucking Company – Drivers employed, Total Cargo Transported (tons)
  4. Ans:
Drivers employed Total Cargo Transported TP (tons) Marginal Product Mp= ( TPn- TPn-1)
1

2

3

4

5

6

7

8

5

12

21

32

40

46

51

50

5

7

9

11

8

6

5

1

  1. What number of drivers appears to be most efficient in terms of output per driver?
  2. What number of drivers appears to minimize the marginal cost of transportation assuming that all drivers are paid the same salary?
    1. The Palms Dry Cleaning Shop in Fort Lauderdale, Florida, faces a highly seasonal demand for its services, as the snow-birds retirees flock to Florida in mid-fall to enjoy the mild winter weather and then return to their main homes in mid-spring. Given this seasonality, Palms tries to keep the overhead costs as low as possible and therefore, often uses seasonal contracted labor to man its operations. The following table shows the labor costs in each month of operation over the past 12 months as well as the total number of garments that were dry-cleaned in each month. Palms pays fixed wages per hour to each employee, and we can assume that the costs of other variable inputs (such as chemicals, electricity, etc) have remained constant.
    Month TVC ($) Garments cleaned
    June

    July

    August

    September

    October

    November

    December

    January

    February

    March

    April

    May

    35,490

    42,470

    48,980

    52,530

    37,480

    33,510

    31,850

    27,860

    22,160

    19,520

    25,960 32,980

    4,500

    5,575

    6,300

    6,525

    5,325

    4,050

    2,850

    2,450

    1,525

    925

    1,925 3,500

     

    1. Derive average variable cost (AVC) data from the data in this table.
    2. Use gradient analysis to provide an estimate of eleven data points that seem to represent the MC curve over this range of outputs. Plot these data points and sketch in estimated MC and AVC curves that seem to best fit these data points.
  1. Suppose that demand is estimated to move from its present (May) level of 3,500 units to 4,000 units next month (June). What is the incremental cost of meeting this demand?
  2. Ans:
Month Month No. TVC ($) Garments cleaned AVC ($) MC ($)
June 1 35,490 4,500 7.89 7.89
July 2 42,470 5,575 7.62 6.49
August 3 48,980 6,300 7.77 8.98
September 4 52,530 6,525 8.05 15.78
October 5 37,480 5,325 7.04 12.54
November 6 33,510 4,050 8.27 3.11
December 7 31,850 2,850 11.18 1.38
January 8 27,860 2,450 11.37 9.98
February 9 22,160 1,525 14.53 6.16
March 10 19,520 925 21.1 4.40
April 11 25,960 1,925 13.49 6.44
May 12 32,980 3,500 9.42 4.46

Going by the above table, the marginal/incremental cost of increasing the level of units from 3500 units to 4000 units in next month ( June) is 4.46 $ per unit.

So, incremental cost of meeting this demand = $ 2230.

 

  1. Assuming that Palm’s price to dry clean a garment has been constant at $15 over the past year, and will remain at that level, what contribution to overheads and profit can it expect in June?Palms tries to keep the overhead costs as low as possible and therefore, often uses seasonal contracted labor to man its operations. Given this data, let’s assume that the overhead cost of the Palm is zero for this problem.
  2. Ans:

3. Over the past 12 months the Four Winds Novelty Company firm has recorded its internet sales (equals monthly output levels) and its monthly total variable costs (TVC) for a particular novelty item as shown in the following table. Sales have grown over this period with relatively few shocks due to uncontrollable weather, political and sporting events. This online retailer carries no inventories; when it receives a pre-paid on-line order from a customer, it simply buys the product from a supplier and ships it out to the customer.

Sales = Output TVC ($)
102,813
176,163
196,121
222,885
226,356
296,416
378,446
450,666
579,696
607,082
624,680
636,133
201,953
340,608
377,940
432,863
441,714
629,267
867,596
1,103,807
1,701,125
1,917,861
2,195,352
2,479,195
  1. Using regression analysis, find an equation that best fits the data to represent the TVC function.
  2. At what sales/output level will marginal costs (MC) reach a minimum?

Estimate the value of TVC for sales/output level 250,000 units, and calculate the 95% confidence interval for your estimate.Regression Equation is:y = 3.978 * 250000 – 433467 = $ 561,033 

 

Estimated value of TVC for sales/output level 250,000 units = $ 561,033

y = 3.978x – 433467

    1. Ans:
    Lower 95% Upper 95%
    -711611.7421 -155321.6885
    3.315413164 4.640585786

     

    Lower 95 % interval for my estimate = $ 117241.5487

    Upper 95 % interval for my estimate = $ 1004824.758

     

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Assuming the XZC cannot use price discrimination, at what price should it sell Lenex to maximize its profits Answer

Company XZC sells its Lenex Brand to four different segments—A, B, C, and D. The variable cost for Lenex is $15. The size of each segment is 1000 people. The reservation prices for the segments are:

A $50
B $40
C $30
D $20

1.Assuming the XZC cannot use price discrimination, at what price should it sell Lenex to maximize its profits? How much would the profits be?
2.If Lenex could use price discrimination, how much would the profits rise? What would be the practical difficulty in implementing it?

3.Assume that the government wants everyone to be able to afford Lenex. It offers XZC a subsidy of $20,000 if XZC sells Lenex to all 4000 potential customers. Should XZC accept this offer? (Hint: XZC is trying to maximize its profits and in this case cannot use price discrimination.)

4.Assume that the government wants everyone to be able to afford Lenex. It offers XZC a subsidy of $7 per unit sold if XZC sells Lenex to all 4000 potential customers. Should XZC accept this offer? (Hint: XZC is trying to maximize its profits and in this case cannot use price discrimination.) You must show all calculations to receive credit. (Points : 25)

5. Creative Solutions, Inc. has a successful brand with the name Top Goal. The market size in which Top Goal competes is $2 billion, and Top Goal has generated sales of $150 million. It has a contribution margin of 30%.

Creative Solutions is thinking of introducing a new brand under the name of Peak Goal. Peak Goal will compete in the same market as Top Goal. The budget to launch this brand is expected to be $20 million.

If it is launched, Peak Goal will capture 10% of the market. It has a contribution margin of 40%. Half of the sales of Peak Goal will be cannibalized from the sales of Top Goal. An alternative strategy for Creative Solutions is to cancel the introduction of Peak Goal and instead to spend the $20 million to promote Top Goal. This action is expected to double the sales for Top Goal. Both brands (Top Goal and Peak Goal) would sell at the same price.

Where should the company spend the $20 million and why? You must show all calculations to receive credit.

6. Forsman, Inc. has sales of $10,000,000. The contribution margin is 40% and the fixed costs are $1,000,000. The price per unit is $10. The company is considering two different strategies for increasing their profits: 1.Spend $800,000 in advertising. The result is expected to increase the company’s sales by 50%.
2.Reduce the price by 20%. The price-demand elasticity is 2.0.

Which of the two strategies will generate the highest profits? You must show all calculations to receive credit. (Points : 25)

 

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MGMT 530 Managerial Decision Making Mid Term Exam Solution

Mid Term 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.

Ans:

  1. i) The criteria that could have been used in the decision-making process that could have avoided the current situation is following the rational decision making process. Clearly, the operation manager or owner of the services company have not made the correct decision related to the size of the operation required in the future to clearly determine the space required in their current facility. If they had identified the decision criteria to determine the size of the facility required over a span of next 5-10 years, they wouldn’t have got into this situation. What they lacked was to estimate the growth of their services business and order size over the next 5 years while making the decision of their facility.
  2. ii) Eight elements for effective decision making are:

1) Identification of the Problem

2) Identification of decision criteria

3) Allocation of weights to criteria

4) Development of Alternatives

5) Analysis of Alternatives

6) Selection of Alternatives

7) Implementation of the Alternatives

8) Evaluation of the Decision Effectiveness

The rational decision making approach could have been applied while coming up with decision criteria’s. The decision criteria’s in this case should have been:

1) Nos. of employees and hardware requirements in the facility and their growth over the next 5 years

2) Estimation of the growth of their services business and order size over the next 5 years

3) What was their company’s vision and goals in terms of market size and order size/value over the next 5-10 years?

4) Cost of renting or taking lease of the current facility /sq ft

They should have assigned weights to these different criteria’s. Based on these different criteria’s they could have looked at various alternatives available to them e.g. 10000 sq ft of facility space, 15000 sq ft of facility space, 20,000 sq ft of facility space etc. Based on the decision criteria’s they should have scored each of these alternatives on a score of 0-100 scale. Based on the weights and individual score, they should have arrived at the final score to arrive at the correct decision. If the operation manager or the owner of the company had followed this, this current situation could have been averted. As they, would have had enough ample space to run their business and they wouldn’t have got into the situation where they have to cancel their orders.

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.

 

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