...Preparing Business Scenario Analyses The following general guidelines may be used in preparing for an oral or written business scenario analysis and presentation. There may be several feasible courses of action regarding the solution to any case. It is more important to concern yourself with the process of problem definition and isolation, analysis, and evaluation of alternatives, and the choice of one or more recommendations, rather than trying to find a single answer. Very often, the right answer is the one that you can propose, explain, defend, and make work. • The Process of Analyzing a Case 1. Read and study the scenario thoroughly and efficiently. Read the scenario once for familiarity, noting issues that come to the forefront. Read the scenario again. Determine all the facts, making notes about symptoms of problems, root problems, unresolved issues, and roles of key players. Watch for issues beneath the surface. 2. Isolate the problem(s). Get a feel for the overall environment by putting yourself in the position of one of the key players. Seek out the pertinent issues and problems. 3. Analyze and evaluate alternatives. a. Once the problems and issues are isolated, work at gaining a better understanding of causes. In what area of the unit do the problems exist? Why? What caused them? Examine and evaluate the strengths and weaknesses of the unit’s processes (e.g., planning, communication), human behaviors, and/or exhibits (e.g., financial statements,...
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...Scenario List Select a scenario from the list. 1. As a partner in a new business, one of your roles is to review information technology tools available to assist you in a certain aspect of your business (e.g., marketing, accounting, sales, quality assurance). Select a technology that emerged within the last five years and consider its impact on your business. Make a decision on whether to adopt this technology. 2. As a member of the human resources department in a manufacturing organization with 120 employees, you have been asked to evaluate different compensation strategies that are available for adoption within your organization. Compare and contrast several compensation strategies and determine the appropriateness of each compensation strategy to your organization. 3. As a CPA of a newly formed, publicly held accounting firm, you have been asked to research the accounting and reporting standards of Financial Accounting Standards Board (FASB) and provide a report to your manager on the impact FASB may have on your company. In your report, you should discuss the history of FASB, the requirements imposed by FASB on public corporations, the impact FASB has on the investment community, and the satisfaction of the investment community with the imposed standards. 4. Your company wants to enter into a major new venture (e.g., develop a new product line, establish a new market, create a presence in a new geographical area). What are the various means of financing such a venture? Select...
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...Explain Corporate Scenarios and then describe how they can have an effect on the formulation and implementation of a firm’s strategy. Business scenarios are an imperative strategy that may be utilized preceding, and as a key info to, the improvement of the structural engineering, to determine the qualities of the Technical Architecture specifically from the abnormal state prerequisites of the business. They are utilized to recognize and comprehend business needs, and along these lines to infer the business prerequisites that the building design advancement needs to address. A business situation is basically a complete portrayal of a business issue, both in business and in building terms, which empowers singular prerequisites to be seen in...
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...LEGAL FORMS OF BUSINESS Preferred Form of Business for Different Business Scenarios Abstract Either when starting a business, or even when the venture parameters have changed, owners must decide in regard to the most suitable business structure for their needs. Whether the business will be a sole proprietorship, partnership, limited liability company (LLC) or corporation, it depends on the type of business, how many owners it has, and its financial situation. There is no one choice that suits every business situation. This paper analyses several of the most important factors to be considered when deciding in regard to the business structure, including: • Potential risks and liabilities of the business • Formalities and expenses involved in establishing and maintaining the various business structures • Owners’ income tax situation, and • Capital investment needs. Also this paper provides recommendations and examples of business structures which are suitable for different ventures. Sole Proprietorship A sole proprietorship is a one-trader business, that is, an entity owned and managed by one person. The formation and structure of a sole proprietorship business can is very informal, is not subject to extended federal or state regulation, and is relatively simple to manage and control. The main characteristic of a sole proprietorship is that the owner is inseparable from the business, which gives the owner complete control over...
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...A Business Scenario Regine Tribble 06/10/14 Bus/210 This is a past, present, and future business scenario. A few years ago I started doing my family hair in the basement of my house and the ones who could afford to pay would pay me between 10 and 20 dollars. So I got to thinking what if I just starting doing my friends and even their family’s hair I would really make some extra money. So I decided to become my own boss and that made me a sole proprietorship because I was doing all the work and taking any losses such as the days that I would turn down doing hair. I was getting very successful and making a lot more money, but I was getting a little tired of having to do it all by myself. So I asked a friend of mind would she want to work for me when I do hair and I told her that all she would have to do is go to the store to pick up the hair and wash the customers hair for me when it need it and I would pay her 5 for going to the store each time and 5 for washing hair per person. My friend said only if we are partners. I then say ok that would be fine but I would get 70% and you would get 30% of the profits because I am the one who is actually doing the customers hair. So we formed a partnership. Doing this time and with the help of my friend the business was growing much faster and was making so much more money a few of my aunt’s wanted to be in on the action, but they did not want to actually be hard on. So they invested 1000 dollar each so that I could rent a small...
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...Business Scenario Vikki Matamoros MGT/350 Critical Thinking February 14, 2011 Ken Rath Business Scenario Expanding operations into a foreign country requires careful planning and key decision making. Southwestern Cardiovascular Associates wants to extend the medical services it provides to the country of Kava. Facing natural disasters and other health concerns the doctors see an opportunity to open a clinic to aid Kava. This company will have to address several issues and obstacles before opening the doors of the new clinic. These include community involvement, backing from government agencies, and religious group help. Outlining and organizing key decisions in order of importance will help address the most important ones first. Recognizing the stakeholders and enlisting their support will help the organization succeed. Preliminary Considerations Southwestern Cardiovascular Associates operates in the United States with the primary focus in surgery tending to patients with heart and lung trouble. Providing services to countries in need is a part of the mission of this organization and after recent travels to Kava the doctors discover that there is a need for a health clinic. Chris Morales, the founder, believes in doing the right thing and helping people in need. Kava is a country in the South Pacific which is the center of many natural disasters, prevalent HIV and AIDS, and high risk for Avian Flu (Axia College, 2011, Week Three Assessment). Providing medical care...
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... ABSTRACT Communication within an organization plays a vital role in business functions. Using poor communication or the wrong type of communication channel can have major negative impacts. Good communication skills and the knowledge to identify when to use a particular communication channel is vital in sending and receiving business information. The communication channel scenarios assigned demonstrate the challenges that occur when there is error in communication. The first scenario highlights the risks of not choosing the right communication channel when dealing with important business matters. The scenario also shows what can occur when important conversations take place via e-mail rather than one on one, and how the evidence of the conversations can cause future damage. The second scenario shows how the internet has changed communication and created new challenges for organizations. Both scenarios demonstrate that it is essential to understand the different channels of communication. COMMUNICATION CHANNEL SCENERIOS 3 Communication Channel Scenario 1 In the case incident between Diana Abdala and William Korman, I side with Mr. Korman. I feel that Ms. Abdala handled the situation in a very unprofessional manner. It is my understanding...
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...BEC970/TEAC4980 Assessment and Evaluation: Alignment Assignment Course Description: This course is designed to help newly hired front-line banking representatives learn the basics of client interaction, including transactional processing, handling client inquiries and concerns, and leveraging trigger events as well as open-ended questions to identify advice opportunities. The learning is delivered in a blended online/in-classroom/in-branch environment with hands-on practice opportunities gained through virtual modules, role-playing with colleagues, and direct client interactions in branch. The course is comprised of seven learning modules/units delivered over a nine week period, with each module delivered over a 1-week period, providing a 2-week intensive hands-on practice opportunity near the end of the program. The flow of the course includes these main topics: 1. Discovery: Learning more about you and understanding your strengths 2. Orientation: The Tools and Resources you need to succeed and where to find them 3. Client Experience: An overview of what a perfect interaction looks like 4. Transaction Processing: Understanding the mechanics of day-to-day transactions 5. Product Knowledge: The nitty-gritty of the products we offer 6. Giving Advice: Discovering needs and providing client-centric advice 7. Client Experience: Juggling it all together ...
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...STRATEGIC PLANNING AT UNITED PARCEL SERVICES Reaction Paper Blank Part A Before the 1990s UPS had a small group in charge of formulating project plans (Garvin & Levesque, 2006, p. 3). However, as the company grew in size and the volume of projects, a formal strategic planning group had to be formed. When Eskew became CEO in 2002, the formation of a Management Committee was among the first accomplishments he made. The Committee was tasked to direct the company to its vision for 2007, its first centennial. Eskew's concern, that changes are needed in UPS's strategic planning process, is valid. If the company continues to form only ad hoc groups to focus on achieving a long-term vision, then the sustainable commitment in the group's members cannot be assured. Eskew believes that the only way to move forward is to stop reinventing the wheel. This belief implies that the strategic planning process has to be more systematic than it is, currently. However, the scale of goals to achieve and tasks to accomplish for the Strategic Planning process have become larger as time progressed. UPS will only be capable of transforming itself once more if it has a proportionate level of commitment. A clearer and more straightforward connection between the different components of the strategic process is needed in order to sustain the focus and chart directions. Delegating such task to a Management Committee is a positive step to address the need to link the various components...
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...Scenarios planning is the main technique to study the future, and it have been used since long time by the government planners, corporate managers and military analysts, as important tool to help them in making decision to face the uncertainty. The idea of scenario planning is to establish about possible future where it can minimise surprises and broaden the span of managers. Today the scenarios planning they have become extremely popular. ( Chermack, T. J. 2003). Scenario planning is a group‐based decision making tool, which has its roots in post‐ WWII military planning and the petroleum industry of the 1970s such as Royal Dutch Company. Unlike its cousins, forecasting and prediction, scenario planning does not attempt to project future outcomes based on data from the past. These methods can often lead to “tunnel vision”, due to their preference of one outcome over another. Scenario planning, as described by Peter Schwartz, Chairman of Global Business Network (GBN), “…is a tool for better decision making…Business and governments employ this tool because it helps them to make better strategic decisions.” (Schlegel, G. L., & Murray, P. 2010) The History of Scenario Planning Scenario planning arose out of a need to plan for futures filled with much uncertainty. This uncertainty is particularly magnified in military operations, which is why scenario‐type planning can be traced back to 19‐century military ...
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...When UPS starting the scenario planning for Horizon 2017, they decided to limit the number of participants from the 1997 scenarios. The purpose of this was to steer clear of similarities between the two scenario-planning sessions. But as an end result, they ended up with scenarios still biased towards the 1997 scenarios. To assist UPS in avoiding this bias would be to have two different scenario-planning sessions. One session would include the participants of the Horizon 2017 session, one with limited 1997 scenario bias. The second session would only include members who did not participate in the 1997 session at all. For this second session the members can get a grip on issues/barriers of the future with a non-bias way of thinking. Their results can be compared and contrasted with the first session, so UPS can see the vision of the company’s future from both sides of the road. Along with the new scenario designing, there were participants who didn’t even truly believe that these meetings were even affecting how UPS does business. UPS is planning for all of these external forces but yet they are not recognizing the internal issue that not everyone is even accepting these meeting as helpful. This can greatly affect the company when external/worldwide forces cause barriers for UPS. In this article, UPS implements SWOT analysis’s but in a more in-depth manner with the scenario planning to improve UPS’s competitiveness. They combined all of the aspects to paint...
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...Please let me know if you need anything from me. I am thinking this is all due Sunday he did not say so I will let you know if it is before then. Communication Channel Scenarios Resources: Communication Channel Scenarios located on the student website. Read the scenarios located on the student website. Answer the questions after each scenario. Be sure to select the communication channel appropriate for each scenario. Defend your responses. Format your paper consistent with APA guidelines. Scenarios are below: Scenario 1 You are the Marketing Manager for a new beverage that has done remarkably well in the United States after it’s introduction especially in sports arenas such as football and basketball. The Vice President of Operations charged you and your team to develop a strategy for entering this new beverage into the global market. You need to take this task back to your team, provide them with the product details, and get them started as quickly as possible because they only have one week to develop a strategy. Questions: 1. What communication channel will you use? 2. Why is this channel the best choice in this situation? 3. What communication channel will you use to convey your strategy to the VP of Operations? 4. Why is this channel the best choice n this situation? Scenario 2 You are the manager of a large travel agency. You manage 11 employees. This morning, one of your employees notifies you that the company login name and password no longer...
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...07:237-246. Downloaded from www.worldscientific.com by PORTLAND STATE UNIVERSITY on 07/25/15. For personal use only. STRATEGIC PLANNING OF FUTURE PRODUCTS WITH PRODUCT SCENARIOS VOLKER GRIENITZ∗ and VOLKER BLUME Industrial Engineering, University of Siegen Paul-Bonatz-Str. 9-11 Siegen, 57068, Germany ∗volker.grienitz@uni-siegen.de Received 29 January 2010 Revised 4 March 2010 Accepted 15 April 2010 Manufacturing based corporations often find themselves confronted with complexities of increased pressures to innovate in order to ensure their comparative market positions. In order to react to various exogenous changes corporations need to develop strategies that match their manufacturing resources as well as products with the markets requirements. Product scenarios represent a holistic approach for managing innovation processes and technologies efficiently. The analysis through evolutionary algorithms for compatibility between and amongst the product structure segments provides the necessary information about their suitability. The resulting scenarios, roadmaps and regular monitoring processes are prerequisite for the managerial decision making process and the implementation of product and technology strategies. Keywords: Product scenarios; scenarios; evolutionary algorithms; monitoring; scenario planning. 1. Introduction The early recognition and visionary anticipation of technological potentials as well as the combination of technologies plays a vital role...
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...meeting opportunity." Have you ever heard people talk about the things they would do if they won the lottery, and yet a large percentage of these people never go out and buy a ticket. These people have exactly a zero chance of winning, while the ones who went out and bought a ticket have a chance, albeit slim, at becoming lucky. This is the scenario that came to mind when I first read the quote “Luck is a matter of preparation meeting opportunity”. However, the more I thought about the quote, the more I realized how easily this could be applied to many real life situations. The author of this quote is trying to tell the readers that preparing yourself for opportunity is the key to being lucky, or successful. In order to prepare yourself for success, there are certain steps that must take place. First, you have to believe in yourself. You must believe that you can pick the lucky numbers, or you must believe that you are capable of competing in, let’s say a marathon. Second, you have to set goals for yourself. In the case of the lottery it’s pretty easy; Goal #1, buy ticket. Goal #2, wait. In the marathon scenario, much like most other scenarios, it’s a little more complicated. You must train both physically and mentally, and make many sacrifices along the way. Finally, you must be optimistic about the result you achieve. In the case of the lottery player, they probably didn’t win. But at least they can try again in a few days, right? The marathon runner may not have won the race...
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...Perrier, Michael Butler, Frank Petty, Nicholas Deluca COM/310 Sept. 2, 2013 Love Cross Action Plan 09.03.13 All members of the team submit two recommendations from Week 4 / Week 5 for theory development that is most conducive for script development. 09.06.13 Two theories will be chosen from discussion in the class thread either unanimously or by the Team Leader (Dalene). 09.09.13 Scenarios need to be submitted via the class thread to be considered for the script. Need to include an environment, proposed characters, resolution and how it meets the theory description to be considered. Scenarios will be chosen unanimously or by the Team Leader (Dalene). 09.13.13 Due from Team Members Team Member 1 (Nicholas) - Appendix for Script 1 - Write a brief preview of how you will be acting out the scenario to represent the selected theory. Team Member 2 (Michael) - Appendix for Script 1 - Write a description of the selected theory with two reference. Team Member 3 (Arline) - Appendix for Script 2 - Write a brief preview of how you will be acting out the scenario to represent the selected theory. Team Member 4 (Frank) - Appendix for Script 2 - Write a description of the selected theory with two reference 09.16.13 Team Leader will submit the appendices 09.19.13 Team Member 1 (Nicholas) - Rough Draft script 1 Team Member 2 (Michael) - Rough Draft script 2 09.21.13 Team Member 3 (Arline) - Final Draft script 1 Team Member 4 (Frank) - Final Draft script...
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