In: Operations Management
Adirondack Savings Bank (ASB) has $1 million in new funds that must be allocated to home loans, personal loans, and automobile loans. The annual rates of return for the three types of loans are 6% for home loans, 14% for personal loans, and 10% for automobile loans. The bank’s planning committee has decided that at least 40% of the new funds must be allocated to home loans. In addition, the planning committee has specified that the amount allocated to personal loans cannot exceed 60% of the amount allocated to automobile loans.
| (a) | Formulate a linear programming model that can be used to determine the amount of funds ASB should allocate to each type of loan to maximize the total annual return for the new funds. If the constant is "1" it must be entered in the box. If your answer is zero enter “0”. | |||||||||||||||||||||||||||||||||||||||||||||
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| (b) | How much should be allocated to each type of loan? | |||||||||||||||||||||||||||||||||||||||||||||
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| What is the total annual return? | ||||||||||||||||||||||||||||||||||||||||||||||
| If required, round your answer to nearest whole dollar amount. | ||||||||||||||||||||||||||||||||||||||||||||||
| $ | ||||||||||||||||||||||||||||||||||||||||||||||
| What is the annual percentage return? | ||||||||||||||||||||||||||||||||||||||||||||||
| If required, round your answer to two decimal places. | ||||||||||||||||||||||||||||||||||||||||||||||
| % | ||||||||||||||||||||||||||||||||||||||||||||||
| (c) | If the interest rate on home loans increases to 9%, would the amount allocated to each type of loan change? | |||||||||||||||||||||||||||||||||||||||||||||
| - Select your answer -YesNoItem 21 | ||||||||||||||||||||||||||||||||||||||||||||||
| Explain. | ||||||||||||||||||||||||||||||||||||||||||||||
| The input in the box below will not be graded, but may be reviewed and considered by your instructor. | ||||||||||||||||||||||||||||||||||||||||||||||
| (d) | Suppose the total amount of new funds available is increased by $10,000. What effect would this have on the total annual return? Explain. | |||||||||||||||||||||||||||||||||||||||||||||
| If required, round your answer to nearest whole dollar amount. | ||||||||||||||||||||||||||||||||||||||||||||||
| An increase of $10,000 to the total amount of funds available would increase the total annual return by $ . | ||||||||||||||||||||||||||||||||||||||||||||||
| (e) | Assume that ASB has the original $1 million in new funds available and that the planning committee has agreed to relax the requirement that at least 40% of the new funds must be allocated to home loans by 1%. How much would the annual return change? | |||||||||||||||||||||||||||||||||||||||||||||
| If required, round your answer to nearest whole dollar amount. | ||||||||||||||||||||||||||||||||||||||||||||||
| $ | ||||||||||||||||||||||||||||||||||||||||||||||
| How much would the annual percentage return change? | ||||||||||||||||||||||||||||||||||||||||||||||
| If required, round your answer to two decimal places. | ||||||||||||||||||||||||||||||||||||||||||||||
| % |
In: Operations Management
In: Operations Management
Identify the key factors business owners should take into consideration before redefining the business strategy. How tools are used in the formulation of strategy and who is responsible for implementing strategy in a business? How are companies integrating Corporate Social Responsibility into the strategic planning process.
In: Operations Management
Create a 50+ word ethics code for your small business based upon the information provided below. You may want to search for various codes of conduct/code of ethics to see how these are typically written for a business.
You are the owner of a new pet grooming boutique called Cats Rule-Dogs Obey. You will need to hire three groomers. In addition to grooming cats and dogs, the groomers will be responsible for scheduling appointments, keeping the boutique clean and stock with pet products, maintaining the privacy of both owners and the pets, opening and closing the boutique and handling customer concerns and questions. Generally, as a new owner you plan to be at the boutique during most of the open hours, however there will be times that you will have to step out and depend on the groomers to be in charge.
As the owner, think about statements that you want your employees to understand as critical for the reputation and well-being of the boutique and the clients! What does an ethical groomer mean to you and your business? Make sure to capture this information in your written code.
In: Operations Management
please be sure to do part E its the hardest part
3) A toy manufacturer makes its own wind-up motors, which are
then put into its toys. While the toy manufacturing process is
continuous, the motors are intermittent flow. Data on the
manufacture of the motors appears below.
Annual demand (D) = 50,000 units Daily subassembly production rate
= 1,000
Setup cost (S) = $85 per batch Daily subassembly usage rate = 200 Carrying cost = $.20 per unit per year
a. To minimize cost, how large should each batch of
subassemblies be? b. Approximately how many days are required to
produce a batch?
c. How long is a complete cycle?
d. What is the average inventory for this problem?
e. What is the total inventory cost (rounded to nearest dollar) of the optimal behavior in this problem?
In: Operations Management
I need to make 2 possible suggestions on how Comcast can fix the problem with their customer service, and how Comcast can possibly improve the whole business overall while briefly discussing the impacts of these suggestions.
Please put in a paragraph with the heading above, I Must come up with 350 words in total.
In: Operations Management
Discuss at least (2) "lessons" about Quality Management from this course that will benefit you in your present / future professional life and / or personal life.
In: Operations Management
Elise, Adam and Thomas want to establish a restaurant called EATs. Elise is a retired bookkeeper and invested $20,000 in this venture. Adam and Thomas both invested $10,000. Elise is an excellent baker while Adam and Thomas graduated from culinary college and focus on the appetizers and main courses. They will all share equally in the work of the restaurant. Elise, given her background in bookkeeping, will do the financial records for the business.
They heard about a local restaurant owner that went bankrupt due to an outbreak of food poisoning from his restaurant. Until then, Elise, Adam and Thomas planned to register their business name, lease the property, and buy the necessary equipment and supplies. After hearing about the other restaurant owner, they are very nervous and want to discuss what they can do to protect themselves.
i. Identify and briefly explain the (relevant) business forms,
including subtypes that are available to Elise, Adam, and Thomas,
given the provided facts.
ii. Provide two advantages and disadvantages for each of the
business forms that you identified in part (i). Be thorough in your
answer.
iii. Which of these business forms would you recommend in the
circumstances? Be sure to indicate why you would recommend it and
why you would not choose the other(s), including any subtypes.
In: Operations Management
a. Identifying the best pay survey.
b. Matching your organization’s positions to pay survey positions.
c. Finding the median rate in the published pay surveys.
d. Assuring the pay survey includes data sorts that match your organization’s: geographic; budget; type organization; and number of employees.
In: Operations Management
Discuss the process of strategy formulation. How can TQ improve this process?
In: Operations Management
Discuss the three basic types of competitive advantage. Can a company achieve all of them?
In: Operations Management
A supervisor gathers his team and discusses the need to change the way schedules are made because not all shifts are adequately being covered. He lets them know that he will be making the final decision, but really wants to hear how the scheduling is going for them and any ideas they have to make sure all shifts are covered.
Discuss the above in terms of fair process. Did he follow any part of fair process? What does he have to do next if he wants to follow fair process and be effective in his management of the employees?
In: Operations Management
Java Joint, Inc. is a Delaware corporation owned by four brothers. The corporation owns a coffee shop in West Haven, Connecticut called Java Joint. To save money, the brothers handled the incorporation of Java Joint, Inc. by themselves without using a lawyer. They filed the Certificate of Incorporation with the Delaware Secretary of State and paid the necessary filing fees to form Java Joint, Inc. However, they have not adopted any organizational documents for the corporation, they have not elected directors of the corporation and they haven’t appointed any officers. To save money on bank fees, they use one of the brother’s personal bank account for the business. Lois Lender made a $10,000 loan to the corporation which is now in default. (The shareholders did not personally guarantee this loan.) The total balance due on the loan including unpaid interest is $13,500. In addition to suing the corporation, Lois is also suing each of the four brothers individually. Under these circumstances, which of the following is true?
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Lois has a strong legal claim against all four brothers because shareholders of a corporation are always personally liable for the obligations of the corporation. |
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A corporation cannot be legally established without using an attorney, so all four brothers are personally liable for the $13,500 due to Lois. |
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Lois has a strong legal claim against all four brothers as shareholders of Java Joint, Inc. under the doctrine of ‘piercing the veil.’ |
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All four brothers are liable to Lois under the doctrine of res ipsa loquitor. |
In: Operations Management
Please read and react to the current event article in the "Health and Wellness of Workers in Industry" Below. Your response should be at least 6 sentences. and address the key points of this article.
OSHA again cites Tip Top Roofing for failing to provide workers fall protection
Date investigation initiated and what prompted inspection:On Nov. 4, 2014, the U.S. Department of Labor’s Occupational Safety and Health Administration’s Aurora Area Office initiated an inspection of roofing contractor Tip Top Roofing & Construction Inc. after receiving a complaint alleging workers were exposed to fall hazards at a residential jobsite in DeKalb.
Investigation findings:
OSHA issued two willful and four serious violations for exposing workers to falls and other hazards while re-roofing an existing residence
Two willful violations cite the company for:
Exposing workers to fall hazards of about 22 feet because the company failed to provide fall protection
Failing to extend a ladder at least three feet above the landing to provide safe roof access Four serious violations involve allowing employees to perform roofing work in close proximity to energized power lines, lack of personal protective equipment and allowing employees to carry loads of plywood and other roofing materials while climbing ladders.
The company has been cited multiple times since 2008 for fall safety violations. The most recent citations were issued in 2013.
Quote:
“A roofer can fall to his death in mere seconds. By refusing to provide fall protection to its workers, Tip Top Roofing and Construction is gambling with workers’ lives and livelihood —and that is unacceptable,” said Jacob Scott, OSHA’s Area Director in Aurora. “With everything we know about how to work safely, it’s troubling to see how many workers are still injured every year in the construction trades, and particularly from falls.”
Each year 38,000 construction injuries are reported. Fatal falls, slips, or trips took the lives of 699 workers in 2013. Falls to a lower level accounted for 574 of those fatalities. About half of the 1.6 million Americans employed in the construction industry, work in residential construction.
In: Operations Management