...I First and foremost, I love cases that are only a few pages. Easier to read and more fun to discuss. In this case, Carter Racing was faced with a decision to race or not to race. The dilemma is that their engine has been breaking at 29% rate. We believe that the engine failure is correlated to the temperature and we have a scatterplot to help visualize this. Still, we have other pressing matters concerning our financial position. If we do not race, we lose out $85,000. If we decide to race, based on our record, we have a 50% chance of placing “in the money” and gaining a lucrative $2 million sponsorship. If we race and don’t win, there are two outcomes: just losing & engine blowout. Just losing is still a lucrative outcome since we will be keeping sponsorship, but blowing out an engine will cost us an $800,000 sponsorship. As a business student, my inclination is to valuate this decision based on monetary value and had set up a decision tree. This tree showed that the value of winning well exceeded the cost of losing or not racing. If I rely on the data, racing at 40 degrees, which is well below the temperatures my engine failures have occurred, I shouldn’t race. But in a business setting, not racing, I incur more costs and fail to take advantage of the opportunities presented to me. Race time is in one hour. Part II I need help. So I decide to get a mechanic’s opinion on why I’m experiencing engine failure. The guy has been in the racing game since he was 16, after...
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...Speed Ventures Case Study Part A: After reading Part A of the Speed Ventures Case Study, I believe that Carter Racing should send their car out on the track to race. Given the confidence of my crew and considering the weather is warmer and above freezing and the fact the risk element is something you have to consider in the racing industry. The team were scared that they would blow up the engine since they had done it previously, however the article addressed both the advantages and disadvantages of racing the car. One of the mechanics thought that the head gasket would malfunction due to the outside temperature and would go into engine failure. After reviewing the graph on Part A, I did not see any correlation between outside temperature and failure of the engine. Carter Racing is currently struggling to make it into the big leagues and racing is a business. You have to be willing to take risks in business, and make mistakes, if you want to succeed. If they win this race, they could receive a sponsorship from Goodstone Tires which would be huge for them. Although there are risks from racing the car, this could set them apart if they win. Speed Ventures Case Study Part B: After reading Part B of the Speed Ventures Case Study, I still believe that Carter Racing should send their car out on the track to race. Pat, the seasoned mechanic that BJ called, said that although he “thinks” that the temperature may be the problem of the engine failure, he still was unsure...
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...Carter Racing* David Eccles School of Business University of Utah Jack W. Brittain, Sim Sitkin 1986, revised 2000 John Carter was not sure, but his brother and partner, Fred Carter, was on the phone and needed a decision. Should they run in the race or not? It had been a successful season so far, but the Pocono race was important because of the prize money and TV exposure it promised. This first year was hard because the team was trying to make its name and so had run in a lot of small races. A successful outing could mean more sponsors, a chance to start making some profits for a change, and the luxury of racing only the major events. But if they suffered another engine failure on national television … “These engine failures are exasperating,” thought John. The team’s car had failed seven times in twenty-four outings this season with various degrees of damage to the engine and car. No one could figure out why. It took a lot of sponsor money to replace a $50,000 racing engine, and the wasted entry fees were no small matter either. John and Fred had everything they owned riding on Carter Racing. This season had to be a success. Paul Edwards, the engine mechanic, was guessing the engine problem was related to ambient air temperature. He argued that when it was cold, the different expansion rates for the head and block were damaging the head gasket and causing the engine failures. It was below freezing last night, which meant a cold morning...
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...failure) 2) 7 seven failure out of 24 races 3) For Pocono, Carter Racing received $40,000 and $2,000,000 if the team can finish in top 5. 4) $800,000 oil sponsor 5) Entry fee=$30,000 (halfway withdrawal get back 50% which is $15,000) 6) All the probability is based on past results. Decision Probability Exp/Rev Source Value Expected Value Race Finish in money (Top 5) 0.5 2,000,000 800,000 Goodstone Oil 2,800,000 1,400,000 Finish out money 0.125 800,000 Oil 800,000 100,000 Not Finish (Blown engine) 0.29 -50,000 -800,000 Engine Oil -850,000 -246,500 Not Finish (Others) 0.085 800,000 Oil 800,000 68,000 Total 1 1,321,500 Not Race Not Race 1 800,000 15,000 -25,000 Oil Entry Fee Payback Goodstone 790,000 790,000 Total 1 790,000 Based on above calculation and Robin Burns theory, there is no correlation between gasket failure and temperature. Hence, Carter Racing should proceed with the race because the gaining or benefits are greater than withdraw from race. On the other hand, taking Pat Edwards ‘s advise into consideration even without facts and figures, there is a high chances that Carter Racing will face engine blown because the temperature of the race is about 40 degrees. If Pat’s assumption is right, Carter Racing will face engine blown because the different expansion rate for the engine head and block will damage the gasket and lead to engine failure. Lastly in my opinion, Carter Racing should to go for it and trust the facts and figures instead...
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...Grace Shanae Leslie Part 1: I recommend that the Carter racing team race. If the team races and finishes in the money they are going to receive a great deal of opportunity. One of these great opportunities includes the benefit of receiving a full season contract for the upcoming year with Goodstone Tire. With the million a year plus incentives that comes with the sponsorship the team would have some money to essentially put towards bettering the engines even more for the upcoming seasons. Another opportunity the team would benefit on is that if they race and finish in the money they will get to keep the $500,000 oil sponsorship on top of the million dollar sponsorship. The good thing about the oil sponsorship is that even if they don’t finish in the money they can still keep the sponsorship. When leveling the two options of whether to race or not to race we can see that the team could keep the oil sponsorship regardless unless they race and blow an engine. However, if the team does not race they will also have other costs that will put them $50,000 in the hole. In my opinion, with the teams stats as they are so and with the data that shows that temperature may not be the reason for the engine failures in the first place, the team should race. If the team blows an engine then they will have to start over, but they won’t have to look back and think about whether or not they could have benefited from racing as a million dollar sponsorship and a $500,000 sponsorship...
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...The study analysed is a prospective, nonrandomized clinical trial investigating the outcome of Standardbred racehorses diagnosed with midbody suspensory ligament desmitis (MSD) and treated with platelet-rich plasma (PRP) followed by a program of gradually increasing exercise. A clear hypothesis is not evident, with the objective being to determine the outcome of the treatment in case horses. The abstract does not explain that the ‘outcome’ investigated in the study is the racing performance of the horses post treatment, evaluated by comparison of number of starts, total earnings, and earnings per start against a control group of horses. The advantage of a prospective trial is that it allows the researcher the ability to analyse currently available...
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...Social Observation Introduction to Sociology 190 Section D097 03/05/2012 Social Observation For my social observation project I’ve chosen to study life at Don Carter lanes located here in the city of Rockford. The main focus of my study is to observer the social norms as defined in Sociology: a brief introduction, by Richard T. Schaefer, a norm is “an established standard of behavior maintained by a society.” I’ll also be observing the informal norms as well. Informal norm is “a norm that is generally understood but not precisely recorded.” I’ll be studying the interactions people have with one another while having fun and enjoyment at Don Carter lanes. It’s a cold Sunday afternoon the atmosphere inside the bowling alley was filled with laughter, people of all ages engaging in conversation, sounds of coins dropping in video games, NASCAR racing on the video monitors, bowling balls thudding against the floor, and pins being slammed to the side walls of the alley cavity. The aroma of pizza, onion rings, and fries become stronger as walk down the aisle to find a place for my observation. On lanes 6 and 7 there are seven Latino teenage boys about to start bowling ages 10 – 15 years in age, they are communicating in the Spanish language. Language is “an abstract system of word meanings and symbols for all aspects of culture.” There are four teens dressed in urban style clothing, jeans sagging oversized shirts, and Nike gym shoes. The...
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...CASE STUDY ON MOTION PICTURES BY GROUP 3 The case study talks about Motion Pictures and a sample of 100movies they produced. Details about the movies their gross sales, opening sales, number of theatres the movies were screened in and number of weeks they were in top 60 are mentioned. Motion Picture | Opening Gross($millions) | Total Gross($millions) | Number of Theaters | Weeks in Top 60 | Coach Carter | 29.17 | 67.25 | 2,574 | 16 | Ladies in Lavender | 0.15 | 6.65 | 119 | 22 | Batman Begins | 48.75 | 205.28 | 3,858 | 18 | Unleashed | 10.90 | 24.47 | 1,962 | 8 | Pretty Persuasion | 0.06 | 0.23 | 24 | 4 | Fever Pitch | 12.40 | 42.01 | 3,275 | 14 | Harry Potter and the Goblet of Fire | 102.69 | 287.18 | 3,858 | 13 | Monster-in-Law | 23.11 | 82.89 | 3,424 | 16 | White Noise | 24.11 | 55.85 | 2,279 | 7 | Mr. and Mrs. Smith | 50.34 | 186.22 | 3,451 | 21 | Be Cool | 23.45 | 55.81 | 3,216 | 8 | Modigliani | 0.03 | 0.13 | 9 | 4 | Flightplan | 24.63 | 89.69 | 3,424 | 21 | Steamboy | 0.14 | 0.36 | 46 | 3 | Lost Embrace | 0.02 | 0.05 | 5 | 1 | Kung Fu Hustle | 0.27 | 17.08 | 2,503 | 16 | Howl's Moving Castle | 0.43 | 4.61 | 202 | 11 | War of the Worlds | 77.06 | 234.21 | 3,910 | 19 | Balzac and the Little Chinese Seamstress | 0.02 | 0.42 | 22 | 6 | Lords of Dogtown | 5.62 | 11.01 | 1,865 | 4 | The Baxter | 0.04 | 0.04 | 47 | 1 | The Amityville Horror | 23.51 | 64.26 | 3,323 | 6 | House of Wax | 12.08 | 32.05 | 3,111...
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...Harley-Davidson: Strategic Profile and Case Analysis Della Shelly, Melie Solomon, Jim Tunison Misericordia University Table of Contents Section I: Introduction3 Section II: Company History3 Section IIa: The Road to Decline4 Section IIb: The Turnaround5 Section III: Porter’s 5 Forces6 Section IV: SWOT Analysis7 Section V: Looking Forward11 Section VI: Future Strategic Actions 12 Section VII: Achieving Continued Success 12 Section VII: Conclusion14 Section VII: Sources 15 ------------------------------------------------- Section I: Introduction Harley-Davidson is an American cultural and business icon. Surprisingly, it has achieved its fame and fortune by essentially relying on designing, manufacturing, selling, and servicing a relatively stable product: two wheels, a 45 V-Twin engine, and a set of handlebars. The most striking distinction about Harley is not the fact that it is successful in selling a single product for over one hundred years, but the fact that its motorcycles have maintained its attractiveness with a broad range of consumers. Outlaw bikers, investment bankers, and people in the middle of a midlife crisis, all seem to be drawn to its lure. Harley can attract such a melting pot of consumers because it is a representation of the American dream…Freedom. ------------------------------------------------- Section II: Company History Harley-Davidson enjoyed a decent amount of success soon after its inception in 1903. The founders, William...
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...It was the last home wrestling meet of my Sophomore year and Senior Night nonetheless. There I was, in the middle of my high school’s gymnasium. My feet resting on the blue, thick, and hardened foam wrestling mat; it gave off a rubber-musky scent. All the lights within the spacious room were off, all but the one resting just ten feet above my opponent and I, casting ominous shadows alongside the walls and bleachers. I positioned my feet at the designated starting points and waited anxiously for the referee’s signal. I eyed my opponent, a varsity Sandy wrestler. He was smaller height wise, his frame somewhat smaller than I, my mind was racing trying to ease my worries. My stomach was tight with nervousness, “Are you both ready?” the referee...
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...Daniels Fund Ethics Initiative University of New Mexico http://danielsethics.mgt.unm.edu Mattel Responds to Ethical Challenges INTRODUCTION Mattel, Inc. is a global leader in designing and manufacturing toys and family products. Well-known for brands such as Barbie, Fisher-Price, Disney, Hot Wheels, Matchbox, Tyco, Cabbage Patch Kids, and board games, the company boasts nearly $5.9 billion in annual revenue. Headquartered in El Segundo, California, with offices across the world, Mattel markets its products in over 150 nations. It all started in a California garage workshop when Ruth and Elliot Handler and Matt Matson founded Mattel in 1945. The company started out making picture frames, but the founders soon recognized the profitability of the toy industry and switched their emphasis to toys. Mattel became a publicly owned company in 1960, with sales exceeding $100 million by 1965. Over the next forty years, Mattel went on to become the world’s largest toy company in terms of revenue. In spite of its overall success, Mattel has had its share of losses over its history. During the mid to late 1990s, Mattel lost millions to declining sales and bad business acquisitions. In January 1997, Jill Barad took over as Mattel’s CEO. Barad’s management-style was characterized as strict and her tenure at the helm proved challenging for many employees. While Barad had been successful in building the Barbie brand to $2 billion by the end of the 20th century, growth slowed in the early 21st...
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...have different roles in the public eye causing the media to be of concern to the police. Historically and in the contemporary era the police have had to meet high expectations of being the public’s crime-fighter. It is the police’s role to prevent crime, maintain order and protect the public (Carrabine, 2009) whilst, the media fulfil a role that is supposed to challenge the state institutions on behalf of the public. Media handling in serious crime investigations is a complex issue. On the one hand, they provide the public with access to information and help generate important information for an enquiry. For example, since its first broadcast in 1984, Crimewatch UK has sought help and information from the public in order to solve crime (Carter and Branston et al., 2002). On the other hand, the media can mislead the public and interfere with the investigative legal processes. As a whole the media plays a critical role in shaping the public’s views by exposing corruption and the activities of the powerful and of agencies of control such as the police (Croall, 2005). More to the point the media are there to maximise audience revenue to get money and to entertain via means of print, audio, visual and social media. Whereas, the police are the primary protection for the public for fears of crime and disorder. These conflicting roles both agencies hold within society demonstrates why their relationship can be equally rewarding and challenging. Focusing mostly on television, this essay...
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...Globalization has indeed brought a lot changes in the International System which does constitute smaller actors like those from the third world countries especially Africa. Globalization can be said to be a unitarization factor of the world hence making the world look like one whole entity. Globalization has both positive and negative impacts to Africa as a continent. It is no doubt that globalization has promoted greater respect for human rights, democracy, liberalized trading, technology, and contributed to the development of African press. This has strongly opened African countries to far greater scrutiny than in the past, making life hard for African governments to get away with excessive and blatant abuses of democratic leadership governance and transparency. Moreover, the technological revolution presupposes the free movement of goods, information, and people across national boundaries. It has an effect on employment patterns worldwide by the contribution to a great deal of outsourcing which is one of the best organizational and industry structure shifts these changes the way business operates. Further, Globalization is changing organizational structures where expenses can move up or down as the business climate dictates. In terms of positive economic opportunities globalization is the establishment of new economic opportunities for corporations, small businesses, through the access to global markets. Kenya has benefited from globalization by increasing the share of exports...
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...Honda Motor Co, Ltd. The Beginning From a young age, Honda's founder, Soichiro Honda (本田 宗一郎, Honda Sōichirō) (November 17, 1906 – August 5, 1991) had a great interest in automobiles. He worked as a mechanic at a Japanese tuning shop, Art Shokai, where he tuned cars and entered them in races. A self-taught engineer, he later worked on a piston design which he hoped to sell to Toyota. The first drafts of his design were rejected, and Soichiro worked painstakingly to perfect the design, even going back to school and pawning his wife's jewelry for collateral. Eventually, he won a contract with Toyota and built a factory to construct pistons for them, which was destroyed in an earthquake. Due to a gasoline shortage during World War II, Honda was unable to use his car, and his novel idea of attaching a small engine to his bicycle attracted much curiosity. He then established the Honda Technical Research Institute in Hamamatsu, Japan, to develop and produce small 2-cycle motorbike engines. Calling upon 18,000 bicycle shop owners across Japan to take part in revitalizing a nation torn apart by war, Soichiro received enough capital to engineer his first motorcycle, the Honda Cub. This marked the beginning of Honda Motor Company, which would grow a short time later to be the world's largest manufacturer of motorcycles by 1964. The first production automobile from Honda was the T360 mini pick-up truck, which went on sale in August 1963. Powered by a small 356 cc...
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...Operations Management? 4 Organizing to Produce Goods and Services 4 Why Study OM? 4 What Operations Managers Do 7 How This Book Is Organized 7 The Heritage of Operations Management 8 Operations in the Service Sector 9 Differences between Goods and Services 10 Growth of Services 11 Service Pay 12 Exciting New Trends in Operations Management 12 The Productivity Challenge 14 Productivity Measurement 15 Productivity Variables 17 Productivity and the Service Sector 19 Ethics and Social Responsibility 20 Summary 20 • Key Terms 21 • Solved Problems 21 < Self-Test 22 • Internet and Student CD-ROM/DVD Exercises 22 • Discussion Questions 22 • Ethical Dilemma 23 • Problems 23 • Case Studies: National Air Express 24; Zychol Chemicals Corporation 25 • Video Case Study: Hard Rock Cafe: Operations Management in Services 25 • Additional Case Study 26 • Bibliography 26 • Internet Resources 26 Developing Missions and Strategies 34 Mission 34 Strategy 35 Achieving Competitive Advantage Through Operations 36 Competing on Differentiation 36 Competing on Cost 37 Competing on Response 37 Ten Strategic OM Decisions 39 Issues in Operations Strategy 42 Research 42 Preconditions 43 Dynamics 43 Strategy Development and Implementation 43 Critical Success Factors and Core Competencies 44 Build and Staff the Organization 46 Integrate OM with Other Activities 47 Global...
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