...demand. ii) Xt <s Xt+1=S-Dt+1 Xt≥s Xt+1= Xt -Dt+1 iii) Xt=i Xt+1=j So; i<s j=S-Dt+1 Dt+1=S-j i≥s j= i -Dt+1 Dt+1=i-j Due to the reason that the demand function is distributed with poisson distribution. We use the probability function of Poisson which is; P(X=a)= λa*eλ/a! Therefore, we use adjust this equation according to our demand function. P(Dt+1=S-j)= λ(S-j) *e-λ ÷ (S-j)! P(Dt+1=i-j)= λ(i-j) *e-λ ÷ (i-j)! Let X0=4, λ=2,m=6, s=2 and S=5 iv) According to the probability functions that are stated above we calculated the probabilities of state transitions and inserted these values in to the matrix cells which is given below. Table 1. case a first probability matrix. The we realized that sum of the...
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...BCG Matrix Model BCG Matrix Model The BCG matrix or also called BCG model relates to marketing. The BCG model is a well-known portfolio management tool used in product life cycle theory. BCG matrix is often used to prioritize which products within company product mix get more funding and attention. The BCG matrix model is a portfolio planning model developed by Bruce Henderson of the Boston Consulting Group in the early 1970's. The BCG model is based on classification of products (and implicitly also company business units) into four categories based on combinations of market growth and market share relative to the largest competitor. When should I use the BCG matrix model? Each product has its product life cycle, and each stage in product's life-cycle represents a different profile of risk and return. In general, a company should maintain a balanced portfolio of products. Having a balanced product portfolio includes both high-growth products as well as low-growth products. A high-growth product is for example a new one that we are trying to get to some market. It takes some effort and resources to market it, to build distribution channels, and to build sales infrastructure, but it is a product that is expected to bring the gold in the future. An example of this product would be an iPod. A low-growth product is for example an established product known by the market. Characteristics of this product do not change much, customers know what they are getting, and the price...
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...Red Pill or Blue Pill They say that the most intelligent people in life are the unhappy people. Ernest Hemingway, Sylvia Plath, Vincent Van Gough some of the most famous people have committed suicide. When searching for truth and purpose within life one is subjecting themselves to a life of unhappiness. With every decision in one’s life one chooses whether to remain ignorant to their surroundings or to become knowledgeable to the absolute truth within life. I believe that it is in each individual’s best interest to remain “ignorant and happy”, but as the curious humans’ we cannot resist a chance to discover the absolute truth and meaning to life in general and in our own life. Through examining Platos , “Allegory of the Cave, the Matrix and other examples, it will be proven why I believe that it is in one’s best interest to remain ignorant, but as humans we have a need to discover truth and purpose within life. Plato's “Allegory of the Cave” is a scenario where 6 prisoners are chained to the ground. They are forced to stare at a wall where everyday shadows or people objects and creatures are projected onto the wall by the Sun. The prisoners believe that the shadows are real life until one day a prisoner gets a chance to leave the cave and see that everything he once thought was true was in fact false. The one prisoner tries to tell the rest of the prisoners about the truth but all they hear is echoes. If the prisoner must return back to the cave after seeing the real world...
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...needed to complete the project. Crosby was recruited specifically to manage special projects and this qualified as such. Even though Olds was already slated to work on the Johnsonville audit, Sands was persuaded by Crosby to let Olds work on his team due to the expertise that was essential to the Springfield project. If I was Palmer I would have talked to management about how the process is being handled and offer up a suggestion so that no other project manager would be misled by another. Palmer should have stood firm with Crosby from the beginning and maybe there would not have been a major issue along the way. He waited too long to talk with Sands and it proved that Palmers passive way was his demise in dealing with Crosby and ultimately lost him Olds on his project. Discuss what Palmer could do, if anything, to avoid losing Olds. Once Olds started to do consulting work he realized that auditing was not as fun as consulting work. I do not believe Palmer could have anything to prevent losing Olds. Olds might have had good intentions but he showed a lack of focus when he started showing up 30-60 minutes late. Palmer should have scheduled a...
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...How to perform BCG matrix analysis? Although BCG analysis has lost its importance due to many limitations, it can still be a useful tool if performed by following these steps: • Step 1. Choose the unit • Step 2. Define the market • Step 3. Calculate relative market share • Step 4. Find out market growth rate • Step 5. Draw the circles on a matrix Step 1. Choose the unit. BCG matrix can be used to analyze SBUs, separate brands, products or a firm as a unit itself. Which unit will be chosen will have an impact on the whole analysis. Therefore, it is essential to define the unit for which you’ll do the analysis. Step 2. Define the market. Defining the market is one of the most important things to do in this analysis. This is because incorrectly defined market may lead to poor classification. For example, if we would do the analysis for the Daimler’s Mercedes-Benz car brand in the passenger vehicle market it would end up as a dog (it holds less than 20% relative market share), but it would be a cash cow in the luxury car market. It is important to clearly define the market to better understand firm’s portfolio position. Step 3. Calculate relative market share. Relative market share can be calculated in terms of revenues or market share. It is calculated by dividing your own brand’s market share (revenues) by the market share (or revenues) of your largest competitor in that industry. For example, if your competitor’s market share in refrigerator’s industry was 25% and...
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...1. Explain how you would respond if you were Palmer at the end of the case. Moss and McAdams (M&M) operated within a matrix structure in which personnel and resources were shared across multiple projects and operations. The matrix approach is a hybrid organizational form that combines elements of both the functional and project team forms in an attempt to realize the advantages of both (Gray and Larson, 2008). In this case the firm, the employee Olds was spread across two projects with different aspects of outcome, potentially creating issues in Olds concentrating and being equally productive of both projects. As this was Palmer’s first project after being promoted he wanted the best on his project to make an impression. Having Olds on his team was a major plus. When the new Project Manager, Crosby, approached Palmer about utilizing Olds for his project he was skeptical about allowing Olds to work with Crosby as he knew there may be conflict. However, Palmer decided to be a team player and allow Olds to work with Crosby on his project. After the discussion with Sands, Palmer should have expressed his reluctance to allow Olds to work with Crosby as his project was suffering from the lack of participation from Olds due to the time restraints shared on Crosby’s project. He should have also expressed how Crosby could have been more considerate in his time share of Olds so that both projects were successful, after all as Crosby so adamantly expressed when he petitioned for Olds...
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...Chocoberry Case Study Idea Generation The techniques that I would propose for CB would be Matrix Analysis (Creative Advantage, 2000), brainstorming (EinsteinDiva, 2010) and whiteboarding (Matimore, 2011). It is important to note that matrix analysis analyzes the situation based on a number of criteria that are then cross evaluated through the matrix, which is basically like a table that it used to represent a set of variables for the top row and another set of variables for the leftmost column. Through the use of the matrix analysis technique, CB could develop new ideas based on the possible combination of variables that are identifiable in the situation of CB. On the other hand, the brainstorming technique involves an in-depth discussion of ideas in a close group, such as the leaders in the case of CB. This discussion would be used to ensure that the different ideas of these leaders would be considered for the decision that would be made in order to make the changes that are needed in the organization so that the company could take advantage of the changes in the market. In contrast, the whiteboarding technique involves the use of a board or a whiteboard. In this technique, the whiteboard would be used to write or paste certain ideas onto the board for a given period of time. These ideas would then later be analyzed in terms of their connections to each other. It is arguable that whiteboarding is considered as the most appropriate for the case of CB, because the company needs...
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...Service Operation Management Ashim Abhinav Ekka Assignment 14133 HOUSE OF QUALITY House of Quality is a diagram, resembling a house used for defining the relationship between customer desires and the firm/product capabilities. It is a part of the Quality Function Deployment (QFD) and it utilizes a planning matrix to relate what the customer wants to how a firm (that produces the products) is going to meet those wants. It looks like a House with a "correlation matrix" as its roof, customer wants versus product features as the main part, competitor evaluation as the porch etc. It is based on "the belief that products should be designed to reflect customers' desires and tastes”. It also is reported to increase cross functional integration within organizations using it, especially between marketing, engineering and manufacturing. QFD is a tool for translating customer requirements into company requirements and identifying features or capabilities required to become a best-in-class provider. Today, customers are demanding ever-more-challenging levels of quality. A customer lost due to poor quality may never return, and, even worse, may take several potential customers with it. For electronics manufacturing, in which M&As are routine and capital investment is increasing, a reasonable return on investment can be achieved only by being a superior supplier. One must understand the difference between value and price. With competition growing...
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...movie, The Matrix (Framestore Studio, 2013). The commercial’s premise was a creative take on a top Hollywood blockbuster science fiction movie franchise, namely the aforementioned movie, The Matrix (Framestore Studio, 2013). In the commercial, Hugo Weaving, the actor who played the Agent Smith character in all the Matrix movies, is in a hospital highlighting all of the innovative technology that GE is providing to hospitals that help improve medical care through service, equipment, and communication. The commercial’s focus is to show how GE’s software and hardware technology assist healthcare providers to connect patience with doctors and nurses, and machines like magnetic resonance imaging or MRI Scanners. The commercial basically states that using GE’s technology properly will help to streamline processes and reducing waiting times. Agent Smith actually states that by implementing this technology hospitals can turn the waiting room into just another room (Framestore Studio, 2013). In my opinion, this commerical motivates through an incentive based theory and actually mixes the two motivations of intrinsic and extrinsic incentives. The commerical basically plays on the notion of less wait times and inconvenience as well as improved service and medical care, if General Electric’s technology is installed and used at the medical facucilaty a person uses. This motivates by giving the patient the incentive of not waiting long for initial service, and then not getting lost or caught...
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...Prioritizing Projects at D. D. Williamson Critique the prioritizing process D. D. Williamson. D. D. Williamson is a small privately held company. Founded in 1865 in Louisville, Kentucky, D. D. Williamson has become a global leader in non-artificial colors (Kloppenberg & Nkomo, 2012). The company has grown to nine operating facilities in six countries and supplying many food and beverage companies around the world. D. D. Williamson had too many projects that were all deemed important. Even though the project was ongoing, some projects were late, over budget, and not achieving the predicted results (Kloppenberg & Nkomo, 2012). With so many active and important projects, the company decided to implement a prioritization matrix. The prioritization matrix was an excellent way to prioritize the company’s projects and improve the budget and on-time rates. As of 2009, the company made more changes to their prioritization process. They decided to choose no more than five “Vision Impact Projects” that would get high-level focus and attention (Kloppenberg & Nkomo, 2012). Projects are now receiving more in depth attention. Suggest at least one recommendation to improve the prioritizing process. Although D. D. Williamson has an effective prioritizing process, any method can be improved. The first thing D. D. Williams can do to improve the prioritizing process. Knowing that whatever process that is done the greatest impact will be on the stakeholder (“Prioritizing Management...
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...Aircraft Solutions (AS) Security Overview Introduction Aircraft Solutions is a well respected equipment and component fabrication company who provides a full spectrum design and implementation solutions to several industries which includes; electronics, aerospace, commercial and the defense sectors. Aircraft Solutions employs a range of highly qualified professionals and houses an immense production plant, with an overall goal of providing high-quality solutions to accommodate specifications from a wide range of customer demands. The following report is a security assessment on Aircraft Solutions and the primary objective in this assessment is to identify the existence of vulnerabilities present within the global context of Aircraft Solutions’ operations. An evaluation of the associated threats will be deduced, accompanied by the exposed weaknesses. This will be followed by an analysis of the degree of risk present. Finally, there will be a focus on the consideration of the consequences resulting from revealing of potential threats. Assessment Hardware and policy will be the main focus of this investigation. It will be narrowed down more to hardware issues. It is very curious that there is no firewall implemented between the commercial division and the Internet. The Defense Department must be routed through Headquarters, but the Commercial department is connected straight to the Internet. This is a significant vulnerability. The second weakness that will be...
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...ACT ONE The Ordinary World: The hero’s life is established in his ordinary world. This story beat is also known as: * The Known * The Set-Up * The Status Quo * Limited Awareness Call to Adventure: Something changes in the hero’s life to cause him to take action. This story beat is also known as: * TheInciting Incident * The Call to Action * The Catalyst Refusal of the Call: The hero refuses to take action hoping his life with go back to normal. Which it will not. Also known as: * Threshold Guardians * Defining Moment * Separation * Reluctance * New Situation * The Debate * Meeting Mentor Crossing the First Threshold: The hero is pushed to a point of no return where he must answer the call and begin his journey. Also known as: * Energetic Marker 1: End of the Beginning * The Point of No Return * Committing to the Goal * Act One Climax * Plot Point One * Break into Two * Turning Point One * The Threshold * Awakening ACT TWO Tests, Allies, and Enemies: The journey through the special world is full of tests and obstacles that challenge the hero emotionally and/or physically. Also known as: * The Fun and Games * Resistance and Struggle * Rising Action and Obstacles * Belly of the Whale * Push to Breaking Point * The Special World * Road of Trials Mid-Point: The energy of the story shifts dramatically. New information is discovered (for positive or negative)...
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...Executive Summary Widget Production ISCOM / 305 University of Phoenix Taylor Inc is manufacturing the Widget X that requires a special assembly line. At this point re-evaluation of labor productivity is needed due to the difference between the regular Widgets and the Widget X. With careful consideration of this project, operations-management must compare the current labor productivity to two alternative methods that would help them with the increase. A cost-benefit matrix will be provided to show comparison of current labor productivity, alternative one and alternative two labor productivity as well as, the effects the alternatives would have, and what the benefits of networking strategies to streamline operational procedures would be. Taylor Inc Cost Benefit Matrix | |Current |Alternative 1 |Alternative 2 | |Wasted Motion |27% |1% |7% | | Physical Lifting |42 |12 |23 | |People Required |17 |6 |9 | |Productivity |208 |392 |288...
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...Explain how you would respond if you were Palmer at the end of the case. If I were Palmer, I would have mixed emotions with Ruby Sands’s decision to move Olds to Crosby’s team at the end. On one side, I will be glad to see the change in management stance towards Olds time share among multiple projects. On other hand, I will be disappointed to lose good resource like Olds. I would have taken this opportunity to explain how difficult it is for senior accountants in the company to share their time between multiple projects. I would have requested management to investigate deeply into current situation and how the organization culture is the responsible for it. M&M is a result-driven organization and promotions are based on meeting deadlines, retaining clients, and generating revenues. Also, the promotion team makes its decision based on relative performance of the account manager in comparison to his or her cohorts (Gray & Larson, 2009, p. 83). This approach has discouraged teamwork and cooperation and has led to conflict and negative culture among the project teams. I would have taken this opportunity to discuss the delay caused by Olds to Johnsonville Audit project and to negotiate with management to allocate an extra resource along with Olds replacement. This extra resource will allow me to make up for the delays and meet the project deadline. I would have asked management to report this incident to promotion team and make it count in evaluating performance. Discuss...
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...Matrix Organizations: Design for Collaboration and Agility Nick Horney, Ph.D. & Tom O’Shea, CMC, Principals, Agility Consulting 9/1/2009 M A T R I X O R G A N I Z A T I O N S Matrix Organizations Success in a matrix happens when you focus on building a new organization rather than simply installing a new structure. “S I C O N K E Y ince the end of World War II, corporate strategy has survived several generations of painful transformations and has grown appropriately agile and athletic. Unfortunately, organizational development has not kept pace, and managerial attitudes lag even farther behind. As a result, corporations now commonly design strategies that seem impossible to implement, for the simple reason that no one can effectively implement third-generation strategies through secondgeneration organizations run by first-generation managers. Today, the most successful companies are those where top executives recognize the need to manage the new environmental and competitive demands by focusing less on the quest for an ideal structure and more on developing the abilities, behavior, and performance of individual managers.” This assessment of matrix management, published in the Harvard Business Review in 1990, is a stinging portrayal of the state of matrix organizations at the time the article was written. Fortunately, both the times and the ability of organizations to adapt have changed. Organizations have become much more adept in implementing complex...
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