Improving Decision Making: Making the Rent vs. Buy Decision for Hardware and Software

This project provides an opportunity for you to help a real-world make a decision about whether to rent or buy new technology. You’ll use spreadsheet software to compare the total three-year cost of licensing and maintaining new manufacturing software or renting the software from an application service provider.

Dirt Bikes would like to implement new production planning, quality control, and scheduling software for use by 25 members of its manufacturing staff. Management is trying to determine whether to purchase the software from a commercial vendor along with any hardware required to run the software, or to use a hosted software solution from an application service provider. (The hosted software runs on the ASP’s computer.) You have been asked to help management with the rent-versus-buy decision by calculating the total cost of each option over a three-year period.

The costs of purchasing the software (actually for purchasing a license from the vendor to use its software package) include the initial purchase price of the software (licensing fee of $100,000 paid in the first year), the cost of implementing and customizing the software in the first year ($20,000), one new server to run the software (a first-year purchase of $4,000), one information systems specialist devoting half or his or her time to supporting the software ($55,000 in full-time annual salary and benefits with a 3% annual salary increase each year after the first year), user training in the first year ($10,000), and the cost of annual software upgrades ($5,000).

The cost of renting hosted software are the rental fees ($2,500 annually per user), implementation and customization costs ($12,000 in the first year), and training ($10,000 in the first year).

Use your spreadsheet software to calculate the total cost of renting or purchasing this software over a three-year period. Identify the lowest price alternative that meets Dirt Bike’s requirements.

What other factors should Dirt Bikes consider besides costs in determining whether to rent or buy the software?

Please Use Excel to solve this problem.. Please list the steps used in your solution.

There are some basic steps in a criminal trial. I want you to walk me through a trial and then I want you to tell me what you consider to be the most important step and support your thoughts using our library databases.

1. What are the primary functions of computer technology in the dentist’s office? In your answer, refer to clinical, administrative, and special-purpose applications.

2. Discuss the advantages and disadvantages of using virtual reality simulations in health care education. Provide examples.

3. Given the many uses of information technology in health care today, anyone entering a health care field must be computer literate and computer competent. Discuss this statement and provide examples.

BUSINESS LAW: Roderick’s of Burbank, Inc., is a corporation selling lingerie. Roderick’s is incorporated in the State of Delaware; it has its headquarters in the State of California; it is registered to do business in Nevada, New Jersey, and Indiana. Roderick’s has repeatedly sent sales representatives into the states of Georgia, Alabama, and Mississippi. It has also, on one occasion, published newspaper advertisements in Rhode Island and Massachusetts. In which states will Roderick’s be subject to in personam jurisdiction? Bonus hint: Look at the International Shoe case.

What is the purpose of the Product Life Cycle? Identify and explain the four stages of the product life cycle. In your response, be sure to include an indication of how sales, profits, product, price, promotion and place change with each stage. Explain what marketers can do to extend the length of the product life cycle? Provide examples to showcase your ideas.

23. What are the three steps in recovering debt?

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1. The ability to adapt to a changing environment will often dictate the success or failure of a team. Why it is important to develop team members?

What is the study of motivation and how does it relate to the workplace? Select any three of the six common motivational strategies that can be used to enhance employee motivation. Besides explaining how these motivational strategies work, explain why you chose these strategies. Be sure to use specific examples to help with your explanation.

Since accounting is the language of business, why do you think it will be important as a business person to be able to speak the language fluently? What would be the consequence of not knowing the language very well?

Organizational Design is described as being “the foundation” of business organization. Where do Organizational Structure and Organizational Charts fit into this foundation? Explain how Specialization, Departmentalization and Decision-Making Hierarchy help to determine a company’s organizational structure.

1. You are to respond to the following questions (BASED ON MARYLAND STATE REAL ESTATE RULES)
   • What are the advantages and disadvantages of purchasing a home with a (a) FHA-Insured loan
   • (b) a VA-guaranteed loan
   • (c) a Conventional loan

          Fjällräven is a Swedish company specializing in outdoor equipment—mostly clothing and rucksacks. Fjällräven was founded in 1960 by Åke Nordin(1936–2013). Its most popular product is the Kånken rucksack (shown below). The Fjällräven Kånken rucksack which is made from tent fabric proved comfortable and durable. It made the brand well known in just a decade.

          The company has a strong market presence in the Nordic countries. It is also represented in other European countries, especially Germany. The company would like to expand and increase sales in the US market, however, the US market is crowded with strong competitors such as JanSport, the North Face, among others.

          Your task is to come up with a promotional strategy for Fjällräven’s Kånken rucksack. Feel free to use any promotional tools we have talked about in class so far, be creative! Make sure you specify the target market (e.g., segments) and have a clear message.

The fact that effective Human Resource Management (HRM) means that “a company has the right number of employees and that these employees are qualified to do their jobs.” Tap into your knowledge from management about HRM activities to explain how a company ensures that these two requirements are met.

Review why companies are introducing green products and engaging in ecologically-friendly practices.

Discuss the theories and concepts with this topic, including the societal marketing concept.