1.) What is strategic planning? Is strategic planning an effective or ineffective tool for organizations? What elements make for an effective strategic planning process in organizations?
Your answers will be short essays and should be three full paragraphs or longer.
In: Operations Management
1.) Briefly outline and describe the five competitive forces
that shape strategy. Which competitive force is the strongest?
Why?
Your answers will be short essays and should be three full paragraphs or longer.
In: Operations Management
What would SE business do during a pandemic? Use HelloFresh company as your discussion. How would business be impacted if it were open during this Covid-19 pandemic? What would firm do for the customers and employees?
HelloFresh's business model is to prepare the ingredients needed for a meal, and then deliver them to customers, who must then cook the meal using recipe cards, which takes around 30–40 minutes. It generally provides about three two-person meals a week for about $60 to $70. It offers a choice from about 19 recipes. In the United States, HelloFresh offers a wine-subscription service, based on that of its competitor Blue Apron. In several markets, it provides "Rapid Box" meals which take only 20 minutes to prepare.
In: Operations Management
1.) Briefly outline and describe the five generic competitive strategies? Illustrate a specific example of each generic strategy in your description?
Your answers will be short essays and should be three full paragraphs or longer.
In: Operations Management
Netflix Now that you’ve identified the organization’s SWOT, you need to determine the project and its objectives and metrics. This project should be based on an unmet opportunity for the organization, or to minimize a potential threat. What does the organization need to do to advance its goals and/or expand its competitive advantage? How will you measure their progress? Complete the following: Explain why this opportunity/threat was selected, and how it is anticipated to benefit the organization. Create at least 3 measurable project objectives based on your analyses. Determine timelines and responsibilities for each objective (e.g. with a RACI chart) Explain why these objectives are appropriate for the project. Develop at least 2 metrics to evaluate achievement of each of the project objectives. Provide a 1-page explanation for why these are appropriate metrics for each of the objectives.
In: Operations Management
1.) What is the role of the Chief Executive Officer (CEO) in the strategy formulation and strategy execution process? Why has their job become increasingly difficult?
Your answers will be short essays and should be three full paragraphs or longer.
In: Operations Management
1.) What are some tests of a good strategy? How do we know if a company’s strategy is working? What are some options for a company if their strategy is not working?
Your answers will be short essays and should be three full paragraphs or longer.
In: Operations Management
Are The Broken Window Theory and Incrementalism similar or different? How? Mention specific examples. 300 words
Incrementalism (Referred to as the slippery slope, incrementalism describes how we unconsciously lower our ethical standards over time through small changes in behavior.)
In: Operations Management
You Be the Consultant "Controlling Employee Theft" (Page 546).
Managers at Holt of California, a heavy equipment dealer based in Pleasant Grove, California, noticed some “unusual” accounting transactions and began to investigate them. Gradually, they discovered that over seven years, their controller, “Stan” (not his real name), who had worked for the company for nine years, had stolen $4.8 million from the company. Stan had used company credit cards, some of which had been issued to former employees, to purchase goods and services, including electronics, cars, airline tickets, landscaping for his home, a country club membership, cosmetic surgery, season tickets to professional sporting events, and online games, for his personal use. In an unusual twist, authorities discovered that Stan had spent $1 million of his employer’s money playing Game of Fortune. To cover his theft, Stan had vendors send bills to his home, where he could alter them, and created a steady stream of false financial reports. Fortunately, Holt was able to survive its employee theft incident, but some entrepreneurs have to close their businesses because employee theft and fraud destroy their cash flow.
Because small businesses often lack the financial and control procedures that large companies impose, they are disproportionately more likely to be victims of employee theft. Small companies are common targets of employee theft because employees, especially long-term employees, know the weaknesses in the company’s systems, procedures, and controls and take advantage when the opportunity presents itself. Indeed, the longer the tenure of an employee who steals, the greater the amount stolen. According to a recent study by the Association of Certified Fraud Examiners, the median theft by perpetrators who had been with a company more than 10 years is $250,000; the median theft for those who stole from a company in their first year of employment is $49,000. One expert cites the following “formula” for employee theft:
Pressure + Rationalization + Opportunity = Employee theft
The only factor in the equation that employers can control is opportunity, which is why entrepreneurs’ money is better spent preventing employee theft than detecting it.
As mentioned earlier, although 64 percent of small businesses report being victims of employee theft, only 16 percent reported the theft to the police. Business owners cite four reasons for failing to report theft by employees: (1) They do not perceive the theft as one warranting any more attention than firing the employee, (2) their attorneys often advise them that the cost in time and energy to prosecute the thief would likely outweigh any benefits, (3) the decision to prosecute is charged with emotion because the employee has worked alongside the owner for many years or is a family member, and (4) they see the police and criminal justice system as ineffective. The median amount stolen among small companies is $150,000, an amount significant enough to threaten the existence of many businesses. Oftentimes, such theft leaves the business in a cash bind from which it is unable to recover. In fact, the U.S. Chamber of Commerce estimates that one-third of all small business bankruptcies result from employee theft. In small businesses, the typical fraud goes on for 18 months before the owner discovers it. Nearly 30 percent of the time, an employee tips off the owner to the theft, twice the percentage of thefts that are discovered by management review (14.5 percent). Seven percent of thefts are discovered by accident.
Many entrepreneurs are shocked to discover that the people who are stealing from their businesses are their most trusted, highly valued employees—the last people they would suspect. In the United States, managers are more likely to steal (43.0 percent) than are employees (30.8 percent), and they cause 2.7 times more damage. The median theft by managers is $173,000, compared to $65,000 by employees. Managers’ thefts also are more difficult to detect, requiring a median of 18 months to detect, compared to 12 months for those that employees commit. The most common red flags that lead to detection are employees living beyond their means, having financial difficulties, having an unusually close association with a company vendor, and being unwilling to share their job duties (for fear of detection).
The most effective way to deal with employee theft is to prevent it. Entrepreneurs can take the following steps to reduce the threat of employee theft:
• Screen potential employees thoroughly. Statistics show that, on average, 1 out of every 38 employees is caught committing employee theft. A business owner’s most useful tool against theft is a thorough pre-employment screening. The best time to weed out prospective criminals is before hiring them.
• Monitor inventory closely. Business owners who fail to keep up-to-date, accurate inventory records are inviting employee theft. When the co-owners of two ice cream stores realized that their employees were stealing, they began to take inventory of their stock twice each day. Once employees knew that controls were in place, the thefts stopped, and profits went up.
• Use technology to discourage theft. A variety of technology tools help business owners minimize losses to employee theft and fraud at very reasonable prices. Simple video camera systems, such as the ones used on the Food Network’s show Restaurant Stakeout, are responsible for nabbing many employee thieves, especially cameras that are focused on checkout stations and cash registers.
• Set up a hotline. One of the most effective tools for minimizing employee theft is to encourage employees to report suspicious activity and give them a mechanism for reporting. Remember that the most common way that managers detect employee theft is by getting tips from other employees.
• Embrace a zero-tolerance policy. When business owners catch an employee thief, the best course of action is to fire the perpetrator and to prosecute. Most owners take the attitude “Resign, return the money, and we'll forget it.” Letting thieves off, however, only encourages them to move on to other businesses where they will steal again.
1. Identify the factors that led Holt of California to become a victim of employee theft and embezzlement. What impact does this crime have on a company’s cash flow and survival?
2. Are small businesses more likely than large ones to be victims of employee theft? Explain.
3. List at least five steps, in addition to the ones described here, that entrepreneurs should take to prevent their businesses from becoming victims of employee theft and embezzlement.
In: Operations Management
1.) Within the framework of the Five-Forces Model of Competition, describe industry conditions that would lead to the highest level of profitability for industry participants. What about the lowest level of profitability? What are the differences between these two conditions?
Your answers will be short essays and should be three full paragraphs or longer.
In: Operations Management
Ben's Chia Seeds does not feel satisfied with the location and amount of shelf space it is given at Super Healthy Food Markets. This creates a source of
a. vertical conflict.
b. diagonal conflict.
c. horizontal conflict.
d. parallel conflict.
e. placement conflict.
2. Molson Coors is evaluating an idea for a new bottled water by using focus groups made up of young consumers to suggest brand names for the proposed product. This is an example of:
| a |
empowerment. |
|
| b |
concept testing. |
|
| c |
market testing. |
|
| d |
TQM. |
|
| e |
EDI. |
3. U. S. Steel produces steel products used in automobiles and various other products. U. S. Steel's products are selling so well that it has decided to buy new equipment that will increase its production capacity. This example best illustrates
| a |
why the demand for a particular seller's equipment is inelastic. |
|
| b |
derived demand. |
|
| c |
why the industry demand for this kind of equipment is quite elastic. |
|
| d |
that the market for installations is a "boom or bust" business. |
|
| e |
All of the above are true. |
4. Which of the following is FALSE?
| a |
Not every firm has a complete MIS. |
|
| b |
An MIS tends to focus on recurring information needs. |
|
| c |
An MIS identifies problems that need solving. |
|
| d |
It is the job of the MIS specialist to ask for the right information in the right form. |
|
| e |
An MIS shouldn't be the only source of information for managers while making decisions. |
5. Susan Stewart had Ethan Allen brand living room furniture and wanted to buy a particular chair of the same brand. She made a few calls to find a store that had the chair in stock. When she found one, she went there and purchased the chair. For Susan, the chair was
| a |
a homogeneous shopping product. |
|
| b |
a specialty product. |
|
| c |
an impulse product. |
|
| d |
a heterogeneous shopping product. |
|
| e |
an emergency product. |
In: Operations Management
1.) Outline and detail a PESTEL analysis. What, in your opinion, is currently the strongest component of the macro-environment? Why? How has this changed?
Your answers will be short essays and should be three full paragraphs or longer.
In: Operations Management
Completely and thoroughly explain how a Flow Process Chart was successfully used by any company that makes any type of consumable beverage.
In: Operations Management
1. Consider the seven missteps mentioned in How to mess up your agile transformation in seven easy (mis)step. The concepts Handscomb discusses in each of the missteps do have much validity. Can you think of any modern day examples of firms and/or projects that have exhibited these pitfalls? In addition, what would you have done differently?
In: Operations Management
Completely and thoroughly explain how any type of Work Measurement Technique was used to determine the labor cost of their services by any Service Company that provides any type of service to its customers. A service company is any company that does some type of work for a customer, such a lawn maintenance, and although they may also include some products, such as applying fertilizer to the lawn, their primary function is providing the service, such as keeping the lawn, hedges, and flowers in an attractive condition.
In: Operations Management