HOMEWORK ASSIGNMENT # 1

Due Date: Tuesday, February 20, 2018 by 5:15 pm

Required format: This assignment is worth 20 pts. You should use Microsoft Word or a similar typing program to write your answers to the questions below. Hand-written copies will be subject to a deduction of 5 pts. Take a photo of your graphs and paste them as a picture in your document or draw them using one of the drawing tools available in Excel or Word. All the publications and internet sources you rely upon to prepare some of your answers should be listed at the end in the form of a proper bibliography (which should include complete information on magazine or journal titles, dates of publication, page numbers, and website addresses - if applicable).
Submission: You are expected to submit two copies of your homework – a hard copy in class on Tuesday, February 20 and an electronic copy via the drop box created on HuskyCT. Your work will be checked for plagiarism via SafeAssign. Submitting the same answers as a fellow student or simply copying information from a publication/internet source is considered plagiarism. According to Uconn policies such assignments receive 0 points. Late submission is allowed, but is subject to a 3-points deduction per day.

1. The following table indicates the monthly quantities of lamb meat supplied and demanded at different prices.
Price of Lamb Meat ($ per pound)
Quantity Demanded (in thousands)
Quantity Supplied (in thousands) $4 76 56 $5 70 60 $6 64 64 $7 58 68 $8 52 72 $9 46 76
(a) Use the above information to plot the demand and supply curves for lamb meat (make sure to properly label your graph). What is the equilibrium price and quantity? How do you know? (1 pt.) (b) Why is the demand curve downward sloping? Why is the supply curve upward sloping? Explain briefly. (1 pt.) (c) What would happen if the price of lamb meat increases to $9? What would happen if it falls to $4? Support both answers with appropriate graphs and arguments. Determine the market condition due to each change. Hint: Remember the discussion in class about gasoline shortage. (2 pts.) (d) In what direction would equilibrium price and quantity move (i.e. increase, decrease, or not change) if there is a decrease in the number of lamb meat consumers (say, due to change in dietary preferences)? Use a graph to illustrate the situation and explain your answer. (1.5 pts.) (e) In what direction would equilibrium price and quantity move (i.e. increase, decrease, or not change) if the cost of producing lamb meat decreases? Use a graph to illustrate the situation and explain your answer. Ignore the change in part d. (1.5 pts.)

ARE 1110, Spring 2018, Emma Bojinova

2. Typically, goods that are in high demand have a high market price. However, some goods that are in high demand during their peak season have lower prices as compared to their out-of-season price. Use your knowledge of supply & demand to explain the lower equilibrium price of cherries sold in the summer (their peak season), as compared to their price during the rest of the year (say, in the winter). Show it graphically and briefly explain. (3 pts.)
Hint: You should draw two demand and two supply curves in the same graph (for winter and summer). Start with the winter to show your initial demand and initial supply of cherries. Then, show the changes that occur in the summer months and prove that the price of cherries in the summer is lower than in the winter.

3. Consider the market for railroad transportation (number of railroad trips offered/produced and demanded). The two parties directly involved in a railroad transaction, the railway company and passengers, both benefit from having railroad transportation. Assume that railway engines create sparks that ignite surrounding woodlands and farmlands, thus, destroying timber and crops. (a) Use a demand-supply diagram to illustrate the market equilibrium in railroad transportation. Show the demand and supply curves. Label the market equilibrium quantity Qm and the market equilibrium price Pm. (1 pt.)
(b) Use the concept of externalities to argue that the free market will not produce the socially desirable quantity of railroad transportation (Qsd). Use your demand-supply diagram to compare the free market and the socially desirable quantities of railroad trips (i.e. which one is greater?). Is this a positive or a negative externality? Is it a production or a consumption externality? Hint: Do you have two different marginal cost curves or two different marginal benefit curves? (2 pts.)
(c) What kind of government policies could be used to improve upon the free market outcome in 3(a)? Discuss briefly two possible policies. (1.5 pts.)

4. (a) Define the terms Gross National Product (GNP) and Real Per Capita GNP. (1 pt.)
(b) State and explain three limitations of using real per capita gross domestic product as a measure of national well-being and progress when comparing different countries. (1.5 pts.)   
5. In 2017, the population of Sugarland was 200 million and its GNI (or GNP) was $80 billion. You are also told the following facts about this country: annual birth rate is 3.5%, annual death rate is 1.5%, annual net migration is 0.5 million, and GNI increases each year by $5 billion. (a) What will be the population of Sugarland in 2018? Note that net migration is given in millions, not in percentage. (1.5 pts.) (b) Calculate the per capita GNI of Sugarland in 2017 and in 2018. At what percentage rate will per capita GNI grow in this one year time period? (1.5 pts.)

Financial statements and closing entries

Foxy Investigative Services is an investigative services firm that is owned and operated by Shirley Vickers. On November 30, 20Y8, the end of the fiscal year, the accountant for Foxy Investigative Services prepared an end-of-period spreadsheet, a part of which follows:

Income Statement

1A. Prepare an income statement for the year ended November 30, 20Y8. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) on the income statement. Refer to the Chart of Accounts for exact wording of account titles.

1B. Prepare a statement of stockholders’ equity for the year ended November 30, 20Y8. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Refer to the Chart of Accounts for exact wording of account titles. Refer to the lists of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names.

1C. Prepare a balance sheet as of November 30, 20Y8. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. You will not need to enter colons (:) or the word "Less" on the balance sheet; they will automatically insert where necessary. Refer to the Chart of Accounts for exact wording of account titles. Refer to the lists of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

2. Based upon the end-of-period spreadsheet, journalize the closing entries. Refer to the Chart of Accounts for exact wording of account titles.

Final Question

3. If Retained Earnings had instead decreased $33,000 after the closing entries were posted, and the dividends remained the same, what would have been the amount of net income or net loss? If required, use a minus sign to indicate a net loss.

Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders’ equity accounts of Morrow Enterprises Inc., with balances on January 1, 2016, are as follows:

The following selected transactions occurred during the year:

Chart of Accounts

Amount Descriptions

T Accounts

A. Enter the January 1 balances in T accounts for the stockholders’ equity accounts listed. Post the journal entries from part B to the eight selected accounts. No post ref is required in the journal.

Journal

B. Journalize the entries to record the transactions. No post ref is required in the journal. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 10

JOURNAL

Retained Earnings Statement

C. Prepare a retained earnings statement for the year ended December 31, 2016. Enter all amounts as positive numbers. The word “Less” is not required. Refer to the list of Amount Descriptions provided for the exact wording of the answer choices for text entries.

Stockholders’ Equity

D. Prepare the Stockholders’ Equity section of the December 31, 2016 balance sheet. “Less” or “Deduct” will automatically appear if it is required. Refer to the list of Amount Descriptions provided for the exact wording of the answer choices for text entries.

Enterprise resource planning (ERP) integrates all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so that employees can make decisions by viewing enterprisewide information on all business operations.

ERP as a business concept resounds as a powerful internal information management nirvana: Everyone involved in sourcing, producing, and delivering the company’s product works with the same information, which eliminates redundancies, reduces wasted time, and removes misinformation.

ENTERPRISE RESOURCE PLANNING BUSINESS DILEMMA:

You have recently started selling a few new products including customized CDs, customizable coffee presses, and coffee-of-the-month and tea-of-the-month programs. Each time you develop a new product you are forced to create an entire new system to track sales. You are not sure why the accounting system you purchased forces you to do this, but you are stuck with this system until you can replace it. You quickly notice that separate systems for each different line of business including coffee, tea, CDs, equipment, programs, etc. is going to hurt your business. You notice that each system works independently to perform its job of creating, updating, and maintaining sales information, but you are wondering how you are going to operate the business as a whole.

Create a list of issues you will encounter if you continue to run the business with separate systems, performing the same operations, for each different product.

What could happen to the cafe if you cannot correlate the details of each system?

How could separate systems for each product hurt marketing campaigns?

Be sure to highlight at least 10 issues where separate systems could cause problems running your business.

At The Broadway Cafe customers receive more than just a great cup of coffee - they receive exposure to music, art, literature, and town events. The cafe’s calendar for programs gives their customers a quick view into their corner of the world - from live music and art displays, to volunteering or a coffee tasting. The cafe offers the following:

Music Center - Information of all live music events occurring in the area. The store also hosts an open microphone two nights a week for local musicians.

Art Gallery - A space in the store filled with great pieces from local artists.

Book Clubs - Customers can meet to discuss current and classic literature.

Coffee Sampler - Customers can sample coffees from around the world with the experts.

Community Events - Weekly meetings are held where customers can find ways to become more involved in their community.

Brewing Courses - Offer the finer details of the brewing, grinding, and blending equipment for sale in the cafe - from the traditional press to a digital espresso machine. Also, includes a trouble-shooting guide developed by brewing specialists.

The Broadway Cafe sales are great and profits are soaring, however, current operations need a complete overhaul. Your grandfather built the business piece-by-piece over the last few decades. The following offers a quick look at current operations.

The cafe does not receive any information on how many of its customers attend live music events. Musicians typically maintain a fan e-mail listing and CD sales records for the event, however, this information is not always provided to the store.

Book club events are booked and run through the local bookstore - Pages Up. Pages Up runs a tab during the book club and provides the cafe with a check at the end of each month for all book club events. The cafe has no access to book club customer information or sales information.

Artist gallery is run by several local artists who pay the cafe a small commission on each sale. The cafe has no input into the art contained in the store or information on customers who purchase art.

Coffee sampler events are run through the cafe’s primary operations.

Community event information is open to all members of the community. Each event is run by a separate organization, which provides monthly event feedback to the cafe in a variety of formats from hand written notes, to Word, to Access files.

Brewing and machine resource courses are run by the equipment manufacturer and all customer and sales information is provided to the cafe in a Word document at the end of each year.

You want to revamp the way the cafe operates so you can take advantage of marketing and sales opportunities across its many different lines of business. For example, offering customers who attend book club events discounts on art and brewing and machine resource courses. You also want to gain a better understanding of how the different events impact sales. For example, should you have more open microphone nights or more book clubs? Currently, you have no way to tell which events result in higher sales.

Create an ERP strategy to help gain visibility across the cafe.

Create a list of issues you will encounter if you continue to run the business with separate systems, performing the same operations, for each different product.

What could happen to the cafe if you cannot correlate the details of each system?

How could separate systems for each product hurt marketing campaigns?

Be sure to highlight at least 10 issues where separate systems could cause problems running your business.

Create an ERP strategy to help gain visibility across the cafe. Please consider all that happens in the cafe from the information listed above

I need assistance translating a custom C++ program to MIPS. My C++ code is the following: I have made numerous attempts on my own to no avail, any assistance is appreciated. Also, template code for this solution is provided below:

#include

int moveRobots(int *, int *, int, int );

int getNew(int, int);

int main()

{

int x[4], y[4], i, j, myX = 25, myY = 25, move, status = 1;

// initialize positions of four robots

x[0] = 0; y[0] = 0;

x[1] = 0; y[1] = 50;

x[2] = 50; y[2] = 0;

x[3] = 50; y[3] = 50;

cout << "Your coordinates: 25 25\n";

while (status == 1) {

    cout << "Enter move (1 for +x, -1 for -x, 2 for + y, -2 for -y):";

    cin >> move;

    // process user's move

    if (move == 1)

      myX++;

    else if (move == -1)

      myX--;

    else if (move == 2)

      myY++;

    else if (move == -2)

      myY--;

    // update robot positions

    status = moveRobots(&x[0],&y[0],myX,myY);

    cout << "Your coordinates: " << myX << " " << myY << endl;

    for (i=0;i<4;i++)

      cout << "Robot at " << x[i] << " " << y[i] << endl;

}

cout << "AAAARRRRGHHHHH... Game over\n";

}

int moveRobots(int *arg0, int *arg1, int arg2, int arg3)

{

int i, *ptrX, *ptrY, alive = 1;

ptrX = arg0;

ptrY = arg1;

  for (i=0;i<4;i++) {

    *ptrX = getNew(*ptrX,arg2); // update x-coordinate of robot i

    *ptrY = getNew(*ptrY,arg3); // update y-coordinate of robot i

    // check if robot caught user

    if ((*ptrX == arg2) && (*ptrY == arg3)) {

      alive = 0;

      break;

    }

    ptrX++;

    ptrY++;

}

return alive;

}

// move coordinate of robot closer to coordinate of user

int getNew(int arg0, int arg1)

{

int temp, result;

temp = arg0 - arg1;

if (temp >= 10)

    result = arg0 - 10;

else if (temp > 0)

    result = arg0 - 1;

else if (temp == 0)

    result = arg0;

else if (temp > -10)

    result = arg0 + 1;

else if (temp <= -10)

    result = arg0 + 10;

return result;

}

The following template code is given:

#
#   A proper program header goes here...
#
#
   .data      
x:   .word   0:4   # x-coordinates of 4 robots
y:   .word   0:4   # y-coordinates of 4 robots

str1:   .asciiz   "Your coordinates: 25 25\n"
str2:   .asciiz   "Enter move (1 for +x, -1 for -x, 2 for + y, -2 for -y):"
str3:   .asciiz   "Your coordinates: "
sp:   .asciiz   " "
endl:   .asciiz   "\n"
str4:   .asciiz   "Robot at "
str5:   .asciiz   "AAAARRRRGHHHHH... Game over\n"
  
#i   $s0
#myX   $s1
#myY   $s2
#move   $s3
#status   $s4
#temp,pointers   $s5,$s6
   .text
#   .globl   inc
#   .globl   getNew

main:   li   $s1,25       # myX = 25
   li   $s2,25       # myY = 25
   li   $s4,1       # status = 1

   la   $s5,x
   la   $s6,y

   sw   $0,($s5)   # x[0] = 0; y[0] = 0;
   sw   $0,($s6)
   sw   $0,4($s5)   # x[1] = 0; y[1] = 50;
   li   $s7,50
   sw   $s7,4($s6)
   sw   $s7,8($s5)   # x[2] = 50; y[2] = 0;
   sw   $0,8($s6)
   sw   $s7,12($s5)   # x[3] = 50; y[3] = 50;
   sw   $s7,12($s6)

   la   $a0,str1   # cout << "Your coordinates: 25 25\n";
   li   $v0,4
   syscall
  
   bne   $s4,1,main_exitw   # while (status == 1) {
main_while:
   la   $a0,str2   # cout << "Enter move (1 for +x,
   li   $v0,4       #   -1 for -x, 2 for + y, -2 for -y):";
   syscall
  
   li   $v0,5       # cin >> move;
   syscall
   move   $s3,$v0

   bne   $s3,1,main_else1# if (move == 1)
   add   $s1,$s1,1   # myX++;
   b   main_exitif
main_else1:
   bne   $s3,-1,main_else2   # else if (move == -1)
   add   $s1,$s1,-1   # myX--;
   b   main_exitif
main_else2:
   bne   $s3,2,main_else3   # else if (move == 2)
   add   $s2,$s2,1   # myY++;
   b   main_exitif
main_else3:   bne   $s3,-2,main_exitif   # else if (move == -2)
   add   $s2,$s2,-1   # myY--;
  
main_exitif:   la   $a0,x       # status = moveRobots(&x[0],&y[0],myX,myY);
   la   $a1,y
   move   $a2,$s1
   move   $a3,$s2
   jal   moveRobots
   move   $s4,$v0

   la   $a0,str3   # cout << "Your coordinates: " << myX
   li   $v0,4       # << " " << myY << endl;
   syscall
   move   $a0,$s1
   li   $v0,1
   syscall
   la   $a0,sp
   li   $v0,4
   syscall
   move   $a0,$s2
   li   $v0,1
   syscall
   la   $a0,endl
   li   $v0,4
   syscall

   la   $s5,x
   la   $s6,y
   li   $s0,0       # for (i=0;i<4;i++)
main_for:   la   $a0,str4   # cout << "Robot at " << x[i] << " "
   li   $v0,4       # << y[i] << endl;
   syscall
   lw   $a0,($s5)
   li   $v0,1
   syscall
   la   $a0,sp
   li   $v0,4
   syscall
   lw   $a0,($s6)
   li   $v0,1
   syscall
   la   $a0,endl
   li   $v0,4
   syscall
   add   $s5,$s5,4
   add   $s6,$s6,4
   add   $s0,$s0,1
   blt   $s0,4,main_for

   beq   $s4,1,main_while
               # }          
main_exitw:   la   $a0,str5   # cout << "AAAARRRRGHHHHH... Game over\n";
   li   $v0,4
   syscall
   li   $v0,10       #}
   syscall

Please read the case provided below and answer the following question:

In 2007, JetBlue was a booming young airline with a strong reputation for outstanding service. In fact, the low-fare airline referred to itself as a customer service company that just happened to fly planes. But on Valentine’s Day 2007, JetBlue was hit by the perfect storm—literally—of events that led to an operational meltdown. One of the most severe storms of the decade covered JetBlue’s main hub at New York’s John F. Kennedy International Airport with a thick layer of snow and ice. Small JetBlue did not have the infrastructure to deal with such a crisis. The severity of the storm, coupled with a series of poor management decisions, left JetBlue passengers stuck in planes on the runway for up to 11 hours. Worse still, the ripple effect of the storm created major JetBlue flight troubles for six more days.

Understandably, customers were irate. JetBlue’s efforts to clean up the mess following the six-day Valentine’s Day nightmare cost over $30 million dollars in overtime, flight refunds, vouchers for future travel, and other expenses. But the blow to the company’s previously stellar customer-service reputation stung far more than the financial fallout. JetBlue became the butt of jokes by late night talk show hosts. Some industry observers even predicted that this would be the end of the seven-year-old airline.

But just three years later, the company is not only still flying, it is growing, profitable, and hotter than ever. During the recent economic downturn, even as most competing airlines were cutting routes, retiring aircraft, laying off employees, and losing money, JetBlue was adding planes, expanding into new cities, hiring thousands of new employees, and turning profits. Even more, JetBlue’s customers adore the airline. For the fifth consecutive year (even including 2007), JetBlue has had the highest J.D. Power and Associates customer satisfaction score for the entire airline industry. Not only did JetBlue recover quickly from the Valentine’s Day hiccup, it’s now stronger than ever.

What’s the secret to JetBlue’s success? Quite simply, it’s an obsession with making sure that every customer experience lives up to the company slogan, “Happy Jetting.” Lots of companies say they focus on customers. But at JetBlue, customer well-being is ingrained in the culture.

From the beginning, JetBlue set out to provide features that would delight customers. For example, most air travelers expect to be squashed when flying coach. But JetBlue has configured its seats with three more inches of legroom than the average airline seat. That may not sound like much. But those three inches allow six-foot three-inch Arianne Cohen, author of The Tall Book: A Celebration of Life from on High, to stretch out and even cross her legs. If that’s not enough, for as little as $10 per flight, travelers can reserve one of JetBlue’s “Even More Legroom” seats, which offer even more space and a flatter recline position. Add the fact that every JetBlue seat is well padded and covered in leather, and you already have an air travel experience that rivals first-class accommodations (something JetBlue doesn’t offer).

Food and beverage is another perk that JetBlue customers enjoy. The airline doesn’t serve meals, but it offers the best selection of free beverages and snacks to be found at 30,000 feet. In addition to the standard soft drinks, juices, and salty snacks, JetBlue flyers enjoy Terra Blues chips, Immaculate Baking’s Chocobillys cookies, and Dunkin’ Donuts coffee. But it isn’t just the selection; it’s the fact that customers don’t feel like they have to beg for a nibble. One customer describes snacking on JetBlue as an “open bar for snacks. They are constantly walking around offering it. I never feel thirsty. I never feel hungry. It’s not ‘Here, have a little sip,’ and ‘Good-bye, that’s all you get.’”

Airlines often can’t control flight delays, especially at busy airports like JFK. So JetBlue wants to be sure that customers will be entertained even in the event of a delay. That’s why every seat has its own LCD entertainment system. Customers can watch any of 36 channels on DirectTV or listen to 100_ channels on Sirius XM Radio, free of charge. If that isn’t enough, six bucks will buy a movie or your favorite television show. JetBlue rounds out the amenities with free Wi-Fi in terminals and free sending and receiving of e-mails and instant messages in the air.

Even JetBlue’s main terminal, the new state-of-the-art T-5 terminal at JFK, is not the usual airline experience. With more security lanes than any terminal in the country, travelers scurry right through. High end dining (tapas, lobster tempura, and Kobe sliders, just to name a few options) can be found among the terminal’s 22 restaurants. And its 25 retail stores are characteristic of the latest mall offerings. A children’s play zone, comfortable lounge areas, work spaces, and piped in music from Sirius XM Radio make travelers hesitant to leave.

Although the tangible amenities that JetBlue offers are likely to delight most travelers, CEO David Barger recognizes that these things are not nearly enough to provide a sustainable competitive advantage.

“The hard product—airplanes, leather seats, satellite TVs, bricks and mortar—as long as you have a checkbook, they can be replicated,” Barger tells a group of new hires in training. “It’s the culture that can’t be replicated. It’s how we treat each other. Do we trust each other? Can we push back on each other? The human side of the equation is the most important part of what we’re doing.”

It’s that culture that gives JetBlue customer service unlike that of any other airline. Taking care of customers starts as early as a customer’s first encounter with a JetBlue call center. Many callers feel like they are talking to the lady next door. That’s because, in all likelihood, they are. JetBlue’s founder pioneered a reservation system that employs part-time reps working from home. Mary Driffill is one of 700 at-home reservations agents in Salt Lake City alone. She logs on to her computer and receives calls in her four-year-old daughter’s bedroom, under the watchful eye of Raggedy Ann, Potbelly Bear, and Chewy, the family Pomeranian-Chihuahua mix. “It’s the best job I’ve ever had,” says Driffill. “Every day I talk to people who love the company as much as I do. That reminds me I’m part of this.”

JetBlue employees are well familiar with the company’s core values: safety, integrity, caring, passion, and fun. If that sounds like an awful lot of warm fuzzies, it’s intentional. But JetBlue hires the types of employees that fit these values. The values then provide the basis for what Robin Hayes, JetBlue’s chief commercial officer, calls the company’s S.O.C.I.A.L. currency program. In JetBlue’s words:

Standing for something. JetBlue was formed with the idea of bringing humanity back to travel, and our engagement with our customers is central to that mission.

Operationalizing the brand. Whether it be in the airport, on the planes, on the phones, or online, the connection with our customers is a key factor in how we do business.

Conversing with customers, broadly. To be properly in touch with the community, it requires the ability to understand and react to the collective conversation that occurs.

Involving, immersing employees. Social media involvement requires understanding and involvement from all aspects and departments of the company.

Advocating the brand. For JetBlue, we understand the ability to market to a social community is dependent on our customers’ willingness to hear and spread those marketing messages.

Listening. Waiving the carry-on bike fee . . . shows we quickly identify and adapt new policies based on feedback we receive through social media channels. It demonstrates our ability to listen and react holistically.

Customers who spread positive word-of-mouth are called many names—true friends, angels, apostles, evangelists. The religious overtones of such labels come from the idea that loyal customers are like true believers who share the good word like a missionary would. JetBlue has an unusually high ratio of such customers. Most airline customers are loyal because they have frequent flyer points. If not for those points, most couldn’t care less with whom they fly. For most, flying is a generally unpleasant experience regardless of who operates the plane.

However, JetBlue customers are so fascinated with what the airline has to offer that they look forward to flying. And they want to keep in touch with the brand even when they aren’t flying. JetBlue has 1.1 million followers on Twitter, more than any other company except. Whole Foods Market and Zappos.com, two other customer service legends. Twitter even features JetBlue as a case study on smart corporate twittering. More broadly, by the metric of social currency (a fancy term for networks of customers spreading by word of mouth), JetBlue is the strongest U.S. brand, outperforming even Apple.

JetBlue’s strong word of mouth has been powered by the company’s ability to delight customers.

In ten short years, JetBlue has proven that an airline can deliver low fares, excellent service, and steady profits. It has shown that even in the airline business, a powerful brand can be built. Few other airlines have been able to write this story. If you’re thinking Southwest Airlines, you’d be on target. In fact, JetBlue’s founders modeled the airline after Southwest. JetBlue has often been called, “the Southwest of the Northeast.” JetBlue’s onboard crews even greet customers onboard with jokes, songs, and humorous versions of the safety routine, something Southwest has been known for since the 1970s. But where Southwest has made customers happy with no frills, JetBlue is arguably doing it all, including the frills.

Until last year, Southwest and JetBlue steered clear of each other. But then both airlines added a Boston-Baltimore route. Boston is a JetBlue stronghold; Baltimore is Southwest’s biggest market. But with JetBlue’s younger workforce and newer, more fuel-efficient planes, its cost per available seat mile is 8.88 cents, whereas it’s 9.76 cents for Southwest. That has allowed JetBlue to do something that no other airline has done to Southwest; undercut it on price with $39 tickets that are $20 cheaper than Southwest’s lowest fare. It’s not clear yet how the battle of the low-fare, high-service airlines will play out. But it may well turn out that as JetBlue and Southwest cross paths on more routes, the losers will be the other airlines.

Now, assume that you have been appointed by JetBlue Airlines Company as marketing director; then answer the following questions:

1. Briefly explain the concept of core competency, in your opinion what are the core competencies of Jet Blue, Do you think this would lead to competitive advantage?

2. Apply the theory of product Augmentation to Jet blue, by explaining the different layers. Suggest improvements in the augmented layers that would give an edge for the company over it’s competitors particularly in the Boston – Baltimore route?

3. Analyze the pricing strategy followed by Jet Blue and Explain the pricing steps that JetBlue had to follow in setting up the price (fare) for Boston-Baltimore route.   

4. Explain the concept of IMC , design an effective marketing IMC campaign for its new route Boston-Baltimore route.

5. If you know that JetBlue sell its tickets online through its own website as well as independent companies’ websites such as cheapflights.com. What are the distribution strategies used by JetBlue?

Fill in the blanks: ________ and ________ interact to create risk (note: order is not important).

A) Threats, Consequences

B) Hazards, Vulnerabilities

c) Likelihoods, Consequences

Question 2

Which of the following best describes a dormant hazard

A) A situation wherein the hazard is in the position to affect persons, property, or environment

B) A situation wherein the hazard is certain to cause loss

C) A situation that has the potential to be hazardous, but nothing of value is exposed to it

Question 3

According to the DHS lexicon, which of the following is the definition for the word "vulnerability" (as a notion)?

A) A physical feature or operational attribute that renders an entity, asset, system, network, or geographic area open to exploitation or susceptible to a given hazard

B) A natural or man-made occurrence, individual, entity, or action that has or indicates the potential to harm life, information, operations, the environment, and/or property

C) The potential for an unwanted outcome resulting from an incident, event, or occurrence, as determined by its likelihood and the associated consequences

Question 4

according to James Matschulat, what is the keystone of effective risk management?

A) A complete understanding of risk

B) A systematic process that takes a comprehensive view of the problem

C) Reflecting on the past to obtain clues for the future

Question 5

Which of the following best describes the difference between a pure risk and a speculative risk?

A) A pure risk is one that is well understood; a speculative risk is one that requires further study to understand

B) A pure risk presents the possibility of loss or no loss; a speculative risk also presents the possibility of gain

C) Both consider benefits as the reason for assuming risk

Question 6

Which of the following is an example of a speculative risk?

A) Development of new security technologies for the homeland security marketplace

B) Over-reliance on a single fish ladder to allow salmon to migrate upstream on the Colorado river

C) Blackmail that exploits closely held secrets that relate to how others might perceive your credibility

Question 7

What form does the answer to the third question of risk assessment take?

A) Set of possible scenarios

B) Valuation of scenarios

C) Strategies for dealing with scenarios

Question 8

Which of the following is NOT one of the phases of risk management?

A) Risk Assessment

   B) Risk Analysis

C) Risk Communication

   Question 9

The final product of a risk assessment (a.k.a. the deliverable) would include a summary of answers to all but which of the following questions?

A) What can happen?

B) What can be done?

C) Is the risk acceptable?

Question 10

Following the occurrence of a security incident affecting a network of computer systems, the afflicted company suffered immediate losses in excess of $10 million, a downtime in excess of a month, and with impacts felt across the entire company. Which of the following elements of the logic of loss refers to why this loss matters?

A) Extent of Loss

B) Consequences of Loss

C) Appearance of Loss

Chapter 3 concludes with an article titled "Sustainability, ROA, and the Golden Rule." Please read that article and discuss why it may be profitable in the long-term to operate a firm in a sustainable manner. Give examples of sustainability practices being used in industry today and discuss their profitability or lack thereof.

The article: "Sustainability, ROA, and the Golden Rule”

Perhaps “sustainability” isn't the first word that comes to mind when someone thinks about the garbage business. However, today's waste industry leaders not only develop sanitary landfills with synthetic liners and ground water monitoring wells, but they are often at the forefront of community recycling and renewable energy efforts.

When Lonnie Poole started Waste Industries in 1970, he didn't know that the company would grow to be one of the country's largest waste companies, but like most entrepreneurs, he did believe that he could build a business for the long haul. Focused on a commitment to service, Poole knew that his company had to find ways to offer service options that were both economically viable and environmentally sustainable. Sometimes projects provided an adequate near-term return on assets (ROA), and they also made sense from a sustainability perspective. Other times, doing the right thing from a long-term sustainability perspective meant Waste Industries needed to find a way to overcome short-term financial considerations.

Take the company's recycling effort as an example. Waste Industries has been engaged in recycling since the 1970s. From an ROA perspective, it was hard to justify the firm's recycling efforts. At first, there was no market for the recyclables. Instead of selling recycled paper, the firm had to pay paper companies to haul recycled paper away. Over time, Waste Industries' investments in sustainability began to pay off. Due to their early investments, today an infrastructure has developed to recycle more waste at lower costs.

Based purely on a short-run ROA, the firm's long-term commitment was not justified, but Poole's commitment to recycling and other sustainable practices were part of a wider corporate culture focused on treating customers, employees, and the broader community with respect.

Now business researchers are finding that Poole may have simply been ahead of his time. When Harvard researchers examined the impact of corporate sustainability initiatives on long-term firm performance, they discovered both higher ROA and higher ROE (return on equity) for firms whose executives promoted sustainability within their firms.

Philosophers and religious leaders have long touted the “golden rule” as a basic ethical code, which states one should do to others what they would wish done to themselves. Like many successful business people, Poole believed sustainability meant making a positive difference in the communities his company served, enriching the lives of employees, and forging meaningful relationships with vendors and suppliers. In the long run, these values paid off. Perhaps this is why a basic rule for ethical behavior is called “golden.”

Statistice inferential question

3. [] The executive is also worried that the bank is losing ground to its major competitor, the Everglades Bank. So the bank executive asked you to determine whether Everglades Bank processes mortgages faster than First National. To conduct this hypothesis test you also collect a random sample of 108 mortgage processing times from Everglades Bank. These data are also located in your Excel file. a) Should your alternative be left-sided, right-sided, or two-sided? Explain. b) State your null and alternative hypotheses using correct symbols and notation. Make sure to clearly identify the populations. c) Conduct a two-sample t-test for comparing the difference between two means. Include Excel calculations in your Word document. d) State the P-value and give the conclusion in context using a significance level of 0.05.

Data to use here :

Number of Days to Process Mortgage Applications

First National 7 8 2 5 6 7 6 4 8 2 5 9 6 3 7 6 7 9 8 8 5 8 5 6 6 9 7 10 8 9 6 6 11 5 7 4 7 6 12 7 10 5 6 6 6 5 4 4 8 9 3 3 10 5 3 11 7 5 6 2 9 13 7 7 6 4 5 9 3 9 9 8 5 7 2 5 10 11 8 10 5 7 4 14 8 4 7 6 8 5 8 2 5 5 8 6 9 6 5 11 9 6 6 8 12 8 10 6

Everglades Bank 4 8 7 4 5 4 10 10 3 9 8 4 8 9 8 9 8 3 8 4 4 7 6 7 10 9 10 3 9 3 7 7 9 9 5 7 6 9 7 5 4 7 7 10 5 8 3 8 5 5 3 6 2 4 7 2 7 3 4 8 5 5 9 5 6 5 8 7 4 7 2 6 2 6 10 6 2 8 5 8 7 10 9 5 10 4 6 3 7 12 8 5 6 6 8 8 4 4 8 6 6 6 7 11 3 7 7 4