Predatory Lending Inc. sells financial services (high interest micro loans) through independent agents. Good agents generate $2,000 in net revenue in the first year, a figure that grows at 5% annually. Poor agents, on the other hand, produce $1,000 in year one and 20% less revenue each successive year. There is no way to tell in advance whether an agent will be good or bad. In the past, about 40% of new agents have turned out to be good and 60% poor. Of the good agents, 50% are loyal, they tend to like the work and remain with the company with a 90% probability year to year, and 50% are not loyal, they leave Predatory Lending and go to work for a competitor after the first year. Similarly, 80% of the poor agents are loyal (i.e., the competition wouldn’t hire them) and have a 90% probability of staying with the firm year to year and 20% drop out after the first year and go back to school. (For simplicity, assume that revenues from agents that drop out in year one are not discounted.)

Given that recruiting and training costs are $5,000 per new agent:

a) What is the CLV of each of the 4 possible types of agents (good loyal/ non-loyal and bad loyal / non-loyal? (Assume a 10% discount rate)

b) Can Predatory Lending Inc. remain in business given it current operating situation?

CLV formula: Gross margin * (Retention rate / [1+ Rate of discount – (Retention rate * (1 + Growth Rate))] – Costs

CLV= m{r/[1 + i-r(1+ g)]}-C

12.Which of the following statements holds true for the term, skill theft?

Select one:

a. It refers to taking specific, job-related abilities acquired at one organization to another, especially a competitor.

b. It refers to a situation where an employee moves to a new organization and helps it appropriate the former organization’s market segment.

c. It refers to the use of company working hours for activities unrelated to work, including looking for a job elsewhere.

d. It refers to a situation where an employee moves to a new organization and helps it appropriate the former organization’s client base.

e. It refers to the use of an organization’s equipment for activities unrelated to work, including looking for a job elsewhere.

13.In the morning rush hour, John, a bicycle courier boy, skids off his cycle and is unable to get up. A number of people pass him, but do not stop to help him because if they did so, they would get late for school or work. Martha, who is also getting late for an appointment, sees John in pain and stops her car, helps him get up and drives him to a nearby clinic. Martha’s act of helping John is an example of:

Select one:

a. product sincerity.

b. cultural imperialism.

c. laissez faire.

d. objectification.

e. Samaritanism.

14._____ refers to a situation in business in which decisions are made on the basis of personal relationships and loyalties more than unbiased judgments and purely professional considerations.

Select one:

a. Regulatory capture

b. Kleptocracy

c. Patrimonialism

d. Crony capitalism

e. Supercapitalism

For each of the following, explain the possible effects on demand and/or supply and equilibrium price and quantity of spiral bound notebooks using a correctly labeled supply and demand graph.

Assume the market for spiral bound notebooks is in equilibrium. All students in public schools need notebooks of some type when they attend classes. For each of the following, explain the possible effects on demand and/or supply and equilibrium price and quantity of spiral bound notebooks using a correctly labeled supply and demand graph with equilibrium price and quantity labeled. Under your hand-drawn graph, list the determinant of supply and/or demand that causes each shift as well as the change in price and quantity. You should have 8 graphs. The written answer should be set up under the graph as follows:

Price: Increase/Decrease (select one)
Quantity: Increase/Decrease (select one)
Determinant: One of the determinants for demand (TRIBE) or supply (ROTTEN) that causes the shift.

a) The price of natural gas, a resource used by manufacturers throughout the United States, doubles.
b) The government provides a subsidy for notebook manufacturers.
c) Your income increases and spiral bound notebooks are an inferior good.
d) The price of binders and paper, a substitute for spiral bound notebooks, decreases.
e) A new binding machine is invented that binds in half the time.
f) The price of all goods using paper is expected to double next month.
g) The government raises taxes on businesses at the same time that students receive their supply list for the new school year.
h) The price of pens and pencils falls dramatically.

A number of factors can affect productivity and economic development. Assign the following items to the appropriate factor category and state whether the effect would increase or decrease economic development.

a. A hurricane destroys several oil refineries on the Gulf Coast.

        Category:  (Click to select)  Physical capital  Natural resources  Human capital  Technology                 Effect on economic development:   (Click to select)  Increase  Decrease

b. A computer software glitch causes a factory's production line to shut down for 5 hours.

        Category:  (Click to select)  Natural resources  Technology  Physical capital  Human capital                 Effect on economic development:   (Click to select)  Increase  Decrease

c. A new oil field is discovered in western North Dakota.

        Category:  (Click to select)  Technology  Human capital  Natural resources  Physical capital                Effect on economic development:   (Click to select)  Increase  Decrease

d. A new drilling rig can extract oil more quickly from wells.

        Category:  (Click to select)  Natural resources  Physical capital  Technology  Human capital                 Effect on economic development:   (Click to select)  Increase  Decrease

e. Children in a high-crime area miss school due to safety concerns.

        Category:  (Click to select)  Technology  Natural resources  Physical capital  Human capital                 Effect on economic development:   (Click to select)  Increase   Decrease

f. A neuroscientist publishes a journal article on a process for improving students’ retention.

        Category:  (Click to select)  Natural resources  Technology  Physical capital  Human capital                 Effect on economic development:   (Click to select)  Increase  Decrease

On August 1, 20Y7, Dr. Ruth Turner established SickCo, a medical practice organized as a professional corporation. The following conversation occurred the following February between Dr. Turner and a former medical school classmate, Dr. Shonna Rees, at an American Medical Association convention in New York City.

Dr. Rees: Ruth, good to see you again. Why didn't you call when you were in Denver? We could have had dinner together.

Dr. Turner: Actually, I never made it to Denver this year. My husband and kids went up to our Vail condo twice, but I got stuck in Fort Lauderdale. I opened a new consulting practice this August and haven't had any time for myself since.

Dr. Rees: I heard about it ... sick ... something ... right?

Dr. Turner: Yes, SickCo. My husband chose the name.

Dr. Rees: I thought about doing somethinglike that. Are you making any money? I mean, is it worth your time?

Dr. Turner: You wouldn't believe it. I started by opening a bank account with $45,000, and my January bank stateemnt shows a balance of $100,000. Not bad for six months--all pure profit.

Dr. Rees: Maybe I'll try it in Denver! Let's have breakfast together tomorrow and you can fill me in on the details.

Comment on Dr. Turner's statement that the dinfference between the opening bank balance ($45,000) and the January statement balance ($100,000) is pure profit.

1. You are excited because your new card game has arrived. This game consists of 40 unique cards. What is the number of ordered samples of 4 cards that can be drawn without replacement from the new deck of cards?

2. You are arranging flowers for a party. You have four white flowers, three yellow flowers, and two lavender flowers. How many different ways can these different colors be arranged?

3. You have a brown paper bag that contains two black balls and two red balls. Two balls are selected at random without replacement. You are told that at least one of the balls is red. What is the probability that the other ball you selected is also red? Give your answer to four decimal places.

4. You have a brown paper bag that contains 10 burnt orange balls and 10 navy blue balls (these are UVA’s colors where I went to graduate school, undergraduate was at UGA, thus I am a dawg). The balls are drawn at random, one at a time without replacement. Find the probability that the fourth burnt orange ball is the seventh ball drawn. Give your answer to four decimal places.

5 In a meadow there are 50 butterflies of which 10 have been tagged. An entomologist random catches 7 butterflies one at a time without replacement. What is the probability that exactly 2 tagged butterflies will be caught? Give your answer to four decimal places.

Each statement represents a scenario in which a linear transformation has occurred. Select the correct statements regarding the standard deviation of the variables after the linear transformation.

-A malfunctioning machine produces a particular part with a mean length of 30 in and a standard deviation of 1 in. If a second part with a consistent length of 2 in is added to the end of the first part, then the standard deviation of the total part lengths will be equal to 3 in.

-The distribution of heights of adult males in the United States has a standard deviation of 4 in. If these heights in inches are converted to feet, then the standard deviation of heights will be 13 ft.

-Prices on a menu at a particular restaurant have a mean cost of $10 and a standard deviation of $4. If the restaurant decides to raise its prices by 50%, then the standard deviation of the new prices will be $6.

-For a particular set of daily TV-watching data, the average number of hours of TV watched per day is 3 hrs, and the standard deviation is 2 hrs. If these daily results are translated to weekly TV-watching results, the standard deviation for the total number of hours of TV watched per week remains unchanged from the standard deviation of 2 hrs.

-The final times (in minutes) for a high school foot race are distributed with a mean of 20 min and a standard deviation of 4 min. The person charged with keeping track of time realized that he started the stopwatch 1 minlate for all runners. Thus, he decides to add 1 min to everyone's time. The standard deviation of the new final times will remain unchanged at 4 min.

Length: 1300 words

Task

Answer the following essay question:

"All technological change is a Faustian bargain. For every advantage a new technology offers, there is always a corresponding disadvantage"

Is this statement valid? Discuss Postman's observation in the context of educational technology in contemporary Australian higher education.

Postman, N. (1995). The end of education: Redefining the value of school. New York: Alfred A. Knopf.

Overview and Advice

'Higher education' in this question refers to post-compulsory education. While some research may be relevant to K-12, the focus of your discussion should be further education including University, TAFE and trade training, as this raises different issues around motivation, goals and outcomes. Remember that we are interested in evidence-based practice, so statements about participation, attitudes, behaviour and outcomes should be supported with peer-reviewed research and demographic data.

Careful question analysis is important when approaching this essay. What does discuss mean? This topic is potentially broad, so you will need to plan carefully to ensure that your argument is clearly defined and follows a logical progression. Question your own assumptions, and those of the authors you are reading; look for opportunities to demonstrate critical thinking. Use good essay and paragraph structure, and demonstrate your understanding of referencing by supporting your argument with a wide selection of carefully chosen sources.

Important: We are interested in investigating the pros and cons of technology in education; this essay is not about Postman’s broader views, or his work; only the statement presented in the question (which should be mentioned in your introduction).

SECTION A: CASE STUDY

QUESTION 1

This is an extract describing a fashion house noted for custom-made gowns in Ghana. Use the case information to answer the questions that follow. Pistis is a Ghanaian based fashion house headquartered in Accra. The company currently stands at the frontline of the fast growing African fashion industry while making major strides on the international markets. Pistis, at the core, prides itself on creating master pieces for every client and, as result, has garnered a name as the leader in special occasion clothes. From their unique hand beaded bridal gowns to their creative use of African fabrics such as kente, the brand aims at making every woman standout as royalty in a Pistis gown. All clothing are specially made to order and the organisation does not stock clothing. There are minimum slots per month for the clothes that can be made so its best to confirm an order when you are certain with the dates to start the process. The organisation has only one facility in Ghana but has a website where orders can be placed online. Pisits was started in 2008 by Kabutey and Sumaya right after graduating from Vogue Style School of School and Design in Accra, Ghana. The brand was founded on a common vision of uniquely providing the perfect fit and style to a fast evolving woman who exuberates ambition, reveres culture and embraces innovation. By acknowledging the demand in the growing African and global market, the brand, through the years, has grown expediently by focusing on providing customers with the best service through rigorous product development in regard to originality and quality. Pistis has been featured in various shows such as the Runway Dubai Season III, Glitz Africa Fashion Week 2013, Radiance Bridal Show and headlining 3 seasons of the Vlisco Fashion Show in Ghana. In addition, Pistis has had the opportunity to dress the finalists for the Miss Malaika Pageant Ghana for 2012, 2013, and 2014 seasons. Through the years, Pistis has had the opportunity to dress dignitaries, celebrities, corporate executives, religious leaders and most importantly, the hardworking everyday woman.


a. If a key need of the customer segment the organisation aims to fill is increase rate of innovation, how would the key customer need identified influence the implied demand uncertainty? (3 Mark) b. Which capabilities of responsiveness (mention 2) does the organisation’s supply chain possess (use information from the case to explain why)? c. How can the organisation use the pricing driver to a. Match supply and demand b. Increase responsiveness c. Increase efficiency?

SECTION B: APPLICATION QUESTION 2

ADJ Company Limited is an organisation that deals in the manufacturing of bespoke cars in Ghana. Its cars are held by distributors/retailers in intermediate warehouses and package carriers are used to transport the cars from the intermediate location to the final customer.   
As an expert in supply chain management, you are to analyse the operations of the company and submit a report detailing the following to management of the company:
a. Indicate the distribution design in use

b. An evaluation of the performance of the current distribution network compared to Manufacturer Storage with Direct Shipping (compare along 4 dimensions).
c. The types of customers and products (mention 2 each) which are more suited to the type of distribution design being used by the company than retail storage with customer pickup and why?

SECTION C: ESSAY TYPE QUESTION 3

The Internet has affected the structure and performance of various distribution networks in a supply chain. Using the case of Jumia or other relevant example state and critically discuss how online sales impacts on a supply chain’s ability to meet customer needs (discuss 4 elements)

How a Welsh jeans firm became a cult global brand

With a look of concentration on her face, a worker guides the sheet of denim through the sewing machine, and a pair of jeans starts to take shape.

As the needle goes up and down in a blur of movement and rattling noise, a line of stitching starts to form a neat trouser leg.

When most people think about the global fashion industry it is safe to say that a sleepy town in far west Wales does not immediately spring to mind.

Yet Cardigan, on Wales' Irish Sea coast, has for the past five years been home to a high-end jeans-maker - the Hiut Denim Company.

Beloved by a growing number of fashionistas from New York to Paris, and London to Melbourne, Hiut ships its expensive jeans around the world.

As orders arrive via its website, Hiut's workforce of just 15 people gets to work hand-cutting and sewing the trousers from giant rolls of indigo-coloured denim that the company imports from Turkey and Japan.

Despite only making around 120 pairs of jeans a week, founder and owner David Hieatt has big ambitions to expand.

While it may seem a little incongruous that a posh jeans business is based in west Wales, Cardigan (population 4,000) actually has a long history of jeans-making.

For almost 40 years the town was home to a factory that made 35,000 pairs of jeans each week for UK retailer Marks & Spencer. But in 2002 the facility closed with the loss of 400 jobs when production was moved to Morocco to cut costs.

Fast forward 10 years, and when Mr Hieatt - a proud Welshman - was looking to open a factory to start making jeans, he chose Cardigan. The company name is a combination of the first two letters of Mr Hieatt's surname and the word "utility".

"Where better to locate ourselves than in a town with a history of jeans-making, where the expertise remains?" he says.

Employing machinists who had previously worked in the old factory and not lost their years of jeans-making skills, Mr Hieatt says he was confident that Hiut could be successful if it concentrated on selling directly to consumers around the world via its website.

"Without the internet we'd have been dead within 12 weeks," he says. "But the internet has changed only everything. The internet allows us to sell direct and keep the [profit] margin... it enables us to compete."

Now exporting 25% of its jeans, it takes Hiut about one hour and 10 minutes to make one pair, compared with 11 minutes at a highly mechanised jeans industry giant.

And rather than staff doing just one part of the manufacturing process, such as sewing on the pockets, each machinist at Hiut makes a pair of jeans from start to finish.

Mr Hieatt refers to the workers as "grand masters". This is in reference to the fact that some of them have more than 40 years of jeans-making experience, and new joiners have to train for three years before they can start making jeans for customers.

In running Hiut Mr Hieatt and his co-owner, wife Clare, have benefited from their experience of previously owning a clothing firm called Howies, which they sold to US firm Timberland for £3.2m in 2011.

But what has also been invaluable is Mr Hieatt's previous career working in advertising.

This advertising nous has enabled him to very effectively market and promote Hiut, from its snazzy website, to its extensive use of social media; both adverts in people's Facebook feeds and arty photos of people wearing its jeans.

"The interesting thing about social media for me is that up until Facebook, Instagram, Twitter and SnapChat you had to have a huge budget in order to tell your story," he says.

"In effect you were locked out of telling that story because the costs [of advertising and wider marketing] were too high. But social media has actually allowed the smaller maker [small firms that manufacture things] to go and tell his story.

"And actually, if David wants to beat Goliath, the best tool in the world is social media."

Mr Hieatt also sends out free jeans to what he calls "influencers", either fashion bloggers or famous people, in the hope that they will write or talk positively about the brand.

Successful examples of this have been an increase in orders from Denmark after Hiut sent a pair of its jeans to celebrated Danish chef Rene Redzepi, and also UK TV presenter Anthony McPartlin of the duo Ant & Dec tweeting about the company.

As Hiut continues to win overseas orders for its jeans costing up to £230 ($300) a pair, Mr Hieatt admits that one negative issue the company has to deal with is a return rate of "about 14%" - people sending them back because they don't fit.

To counter this problem Hiut is exploring using technology that can accurately tell from a photo a person's perfect jeans size.

Dr Natascha Radclyffe-Thomas, fashion marketing course leader at London College of Fashion, says that if Hiut wants to expand its overseas sales it needs to "have the website in different languages" and consider partnerships that will see its jeans listed on other websites.

Back at Hiut's small factory on the edge of Cardigan, Mr Hieatt says the long-term aim remains to recreate 400 jeans-making jobs in the town.

"Our aim is to get 400 people their jobs back. If you ask me when is that going to happen, the honest answer is I don't know.

"But I believe in compound interest. Small things over time gather huge numbers."

QUESTION:

What international marketing strategy would you recommend to the firm?