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2A. Use the following information to create and submit a properly labeled (headings, columns, etc.) MONTHLY and YEARLY Income Statement for this fast food restaurant in Hamburg NY.

  • Sales for the month of June were $300,000. Sales for the year were $2,600,000.
  • The sum of $66,000 was spent on food in June ($792,000 for the year). The store spent $9,000 on paper to wrap food items in June and $108,000 for the year.
  • Taxes for June were $15,000. For the year, they were $233,000.
  • Fixed operating costs for June were $175,000. For the year, they were $1,000,000.

2B. The student owners from Hilbert College invested $300,000 in start-up costs for this fast food restaurant, what was the STUDENTS ROI for the month and the year? (Assume June as average.)

 
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Shana Corp. was a small, new software company. Some of its product development efforts, combined with a few technologically related contracts, had allowed the firm, over several years, to develop a budding expertise. At first, Shana’s skills were not much different from most of its rivals’. But because of the kinds of jobs it had worked on (jobs richer rivals had refused), Shana was acquiring an ability to develop advanced forms-completion software that could run on different computer operating systems.

After a while, Shana’s top managers gradually came to realize that their firm had learned to skillfully and cheaply do jobs that rivals could not do as well or as efficiently. Also, some affinities began to occur among software developers as each began, quite naturally, to specialize according to talent and build on one another’s strengths. Work complementarities grew up as a loosely coupled group became an integrated and effective team. And so, Shana kept getting better in their increasingly focused sphere.

Soon, Shana’s managers began to develop routines, procedures, and incentive policies to further improve team performance. They also started using Shana’s growing body of specialized knowledge to concentrate on clients that required its special abilities. The convergence around certain skills and a target market also focused selection and training programs, project management protocols, and marketing campaigns.

Shana had not set out to master a special capability. Nor did it prospect intentionally for promising market niches. And the company did not at first possess valuable property or knowledge resources that were unavailable to rivals (they too could have tried to develop forms software to bridge operating systems but decided this was not worth the effort). Rather Shana’s managers noticed retrospectively what their firm was becoming especially good at, realized from talking with clients that the talents were rare, tough to match, and worth developing, and pursued clients that would value these talents. The firm, moreover, did not set out to copy the skills of successful rivals. It did not have the wherewithal to accomplish that. Moreover, even if Shana had been able to develop those skills, by the time it did its competitors, most probably, would have moved ahead. Shana’s managers realized that emulation would surrender to rivals’ product and market leadership and force the firm to share a market with many other firms.

Adapted from Miller D. 2003. An asymmetry-based view of advantage: Toward an attainable sustainability Strategic Management Journal, 24:

961-976.

A more complete explanation of this model can be found in Mintzberg & Waters 1985. Of Strategies, Deliberate and Emergent.Strategic Management Journal,6:257-272. I found this reading available in the JSTOR database in the UTA library. It may help you to read that paper before you take this quiz.

As MANA 4322 students, you will be asked to develop knowledge of strategic management theories. You will also be required to apply these theories in specific situations. You will use examples from the cases we study to support your arguments. Thus, the following questions pertain to whether Mintzberg’s theory of the strategic management process (above) applies to Shana Corp.

Question 1

Mintzberg & Waters propose that unforeseen environmental developments may result in emergent (unintended) strategies. What evidence in the casefrom the firm’s environmentsupports this claim?

Group of answer choices

a) Shana’s management did not intentionally prospect for promising market niches

b) Shana’s managers began to develop routines, procedures, and incentive policies to further improve team performance

c) The firm acquired an ability to develop advanced forms-completion software that could run on different computer operating systems.

e) Richer rivals had refused certain jobs (a market niche was neglected)

f) All of the above

 
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Lindsey was 14 when her home burned down in a serious fire after a row of homes in the city was set afire by a teenage arsonist. Until the fire, she had been a good student and enjoyed school. After the fire, she began to lose interest in her schoolwork and her grades plummeted. Lindsey’s mother brought her into the case management unit complaining that Lindsey was depressed and needed attention. Before the fire Lindsey had often talked of going to college, and her mother worried that Lindsey’s goals would soon be lost if she continued to do poorly in school. The case manager listened to the mother and then talked at length with Lindsey. Lindsey explained that during the fire all her schoolbooks were lost, including notebooks with notes in them and her dictionary School officials at the inner-city school had been reluctant to issue a new set of books because they rigidly adhered to a regulation that students got only one set a year and were “responsible for replacement of any damaged books” Part 1: Complete a new referral/inquiry form with the above information. You can type directly into the required form, save and upload or submit a similar form of your own. During the first interview, the case manager (you) listened to the mother and then talked at length with Lindsey. Lindsey explained that during the fire all her schoolbooks were lost, inciuding notebooks with notes in them and her dictionary School officials at the inner-city school had been reluctant to issue a new set of books because they rigidly adhered to a regulation that students got only one set a year and were responsible for the replacement of any damaged books Part 2: Create a list of items that will be included in the service/treatment plan. Part 3: Develop an initial service/treatment plan cike the one in your textbook) for Lindsey. You should include a minimum of 5 items in the service/treatment plan that you submit.
 
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  1. (T/F) MRP is mostly applied on items that have dependent demand.
  2. (T/F) MRP creates advantage with reducing inventory position and increasing response level to market changes.
  3. (T/F) While applying MRP, demand of the final product is used in order to estimate the quantity requirement of the dependent item which exists in the final product.
  4. (T/F) Stock on hand position is not considered while calculating the gross material requirements.
  5. (T/F) In order to apply dependent inventory models; lead times, available stock on hand position, and outstanding orders are considered to be critical for the the operations managers.
  6. (T/F) Customer preferences are considered while deciding which products have dependent demand.
  7. (T/F) In MRP calculations, safety stock necessities are included by the increase of inventory requirements.
  8. (T/F) If operations managers want to minimize the holding costs, they would prefer the lot-for-lot techniques.
  9. (T/F) In POQ lot sizing calculations, production orders are placed regularly with predetermined time intervals.
  10. Which of the following can NOT be considered as a benefit of MRP?
  1. Decreased stock on hand levels
  2. Improved customer satisfaction
  3. Improved quality
  4. Better management of resource (facility & labor) utilization
  5. Fast response to market changes.

 
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