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One of the first characteristics or points of a successful business plan is

Select one:

a. demonstrate a clear, compelling vision that creates an air of excitement.

b. essential information about funding received so far.

c. the entrepreneur’s background and role in the company.

d. the key ingredient of the business that will attract million of customers.

e. a profile of potential customers and market needs.

Managers, in today’s work environment, rely less on ____ and more on ____ leadership.

Select one:

a. empowerment and innovation; productivity and efficiency

b. effectiveness and efficiency; quality and profit

c. coordination and communication; control and command

d. autocratic; empowering

e. ethics and social responsibility; profit and cost-savings

Carrie’s Car Care receives more than 25% of its total sales revenues from operations outside of Trinidad and Tobago. Carrie’s would be considered a

a. multinational corporation.

b. globalization corporation.

c. None of these.

d. foreign national.

e. wealth company.

 
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Romeo head, owner of Wanky, Sweet Shoes must place orders with an athletic shoe manufacturer 6 months prior to the time the shoes go on the shelf. Specifically, Ravi must decide on October 1st how many pairs of the manufacturer’s newest “Mud Puppy” model to order for sale during the upcoming 2022 spring/summer season. This popular model costs the store $88. per pair. Furthermore, each pair can be sold to customers at $175 per pair. Any pairs unsold at the end of the summer season will be sold in a closeout sale next fall for $74 per pair. The probability distribution of consumer demand for these shoes during the upcoming season has been estimated as follows:
Demand Probability
140 0.05
165 0.23
190 0.35
215 0.31
240 0.06
Romeo also knows from experience that if their stores are stocked out (i.e., no more inventory) and the customer wants it, he will lose business from other related products because customers will shop at his competitors in the future and probably never return. He quantifies lost sales to be valued at $33.00 per pair whenever customer demand for this shoe exceeds his supply.

Help Romeo determine the right number of pairs of Mud Puppies to order for the upcoming year by answering the questions below. The manufacturer will take orders only for multiples of 10. Assuming the demand and costing information above is accurate, answer the following questions* by developing a spreadsheet model using Excel (DO NOT use paper and pencil for this question):
Construct a payoff matrix.
a) What decision should be made according to the EMV decision rule?
b) What decision should be made according to the maximax decision rule?
c) What decision should be made according to the maximin decision rule?
d) What decision should be made according to the minimax regret decision rule?
e) What decision should be made according to the EOL decision rule?
f) What is the very most that Romeo should be willing to pay to obtain a forecast of customer demand that is 100% accurate?
g) Which decision rule would you recommend Romeo use? Provide a clear explanation why you are recommending a particular decision rule.

 
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Give me your “gut reaction” to the podcasts from last week as well as the readings and videos from this week regarding data collection, digital privacy and the general state of affairs in terms of company’s ability to harvest, aggregate, sell and use our personal data. What were you thinking as you moved through the materials over the last two weeks? How do your personal morals affect your views on whether this is ok? Does anything about this worry you? Are you happy with what you are receiving as part of the “transaction?” If you could make one change to this situation, what would it be?
 
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Answer the following questions about the hotel chain you have selected. 1. What is the history of this chain? When was it founded? Who founded it? Where is their head office if they have one. What is the story and inspiration? (15 marks) 2. What type of hotel is it? Upscale, midscale, budget? or something else. Explain your answer. (5 marks) 3. Profile one location. Select one hotel of your brand in one city to answer these questions. (10 marks) a) how many rooms? b) where is it located exactly? c) what are the amenities? d) what are the room types that are available? 4. Prepare a summary of 2 minutes of you findings to present to your instructor in Week 4. It could be a PPT
 
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