...MGMT530 – Labadee Decision Week 5 Case Analysis The objectives for the assignment were to define the uncertainties using a risk profile and make the recommendation for a decision for the Labadee Case. Students will have a wide variety of responses based on the limited information provided in the case. Risk Profile Uncertainty 1: How will guests react knowing many citizens are struggling? | Outcome: | Chance | Consequences: | Guests react negatively | 50% | Guests will cancel reservations | Guests react positively | 50% | Guests may be attracted and want to assist Royal Caribbean International | | | | | | | Uncertainty 2: How will the media respond to the decision? | Outcome: | Chance | Consequences: | Negatively | 80% | Royal Caribbean International eliminates Labadee’s story | Positively | 20% | Royal Caribbean International will continue to stop in Haiti | | | | | | | Uncertainty 3: How will Labadee be affected? | Outcome: | Chance | Consequences: | Haiti is impacted negatively | 70% | The community will not see the profits of the cruise; thus, putting Haiti in a worse financial position | Haiti is impacted positively | 30% | The community will keep the profits and receive the needed assistance from group and traveling guests | | | | | | | Decision Recommendation Decision Recommendation | Alternative Recommended | Summary Rationale | Continue the trips | After creating a risk profile, it is true that...
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...Mgmt 530 – Case Analysis – Which venue to select for the rescheduling of the event. Consequence Table | Chicago | New York | Las Vegas | Airfare | $200 - $300 | $300 - $400 | $200 - $300 | Hotel Room Rate | $149.00 | $329,00 | $169.00 | Conference Costs | $25,000 | $20,000 | $15,000 | Survey Rank | 1 | 2 | 3 | Now, look closely at the table and review the dimensions for which you are establishing and idea on how to rank the cities. In this case, the dimensions are by airfare, hotel room rate, conference costs and survey rank. The next step is to develop a scoring model… Let’s use 3 for Best, 2 Second and 1 for Worst. This could be any set of numbers. Now, using the scoring model, review each of the dimensions and basically use a number for whether or not the ranking is better, second or worst. In this case, if you have two that are the same, that doesn’t matter, as both will receive the same score. For example, conference costs are $25,000, $20,000 and $15,000 for Chicago, New York and Las Vegas. Using three as the best and 1 as the worst, you would rank Chicago 3, New York 2, and Las Vegas as 1. Now do this for each of the dimensions based on whether or not the metric is good, second or worst. You should get a table that looks like this: Scoring Model (3 = Best, 2 = Second Best, 1 = Worst) | Chicago | New York | Las Vegas | Airfare | 3 | 1 | 3 | Hotel Room Rate | 3 | 1 | 2 | Conference Costs | 1 | 2 | 3 | Survey Rank | 3 | 2 | 1 | ...
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...MGMT530 – Conference Decision Week 2 Case Analysis Template 1. Define the Objectives for the Conference Decision Case. Objectives should be separated into fundamental and means objectives. 2. Identify the alternatives for the case. Fundamental Objectives (used to evaluate and compare alternatives) The upper management is in favor of this conference. This conference is very crucial to the development and growth of the organization. A fundamental objective is to find a location and set a new date for the conference. Another objective is to keep the cost the same. If the cost of resuming the conference rises and additional costs are presented to the attendees, the organizations will risks losing attendees. Means Objectives (used to generate alternatives and deepen your understanding of the decision problem) To get a better perspective of the prospective attendees I think it would be wise to contact the attendees and get a count of how many will be able attend during present date. Also to see if a change in venue location would affect their attendance. If a large number of attendees won’t be able to attend during the current date, then it would be safe to re-schedule the conference date and find another suitable location. By doing this it will give attendees enough time to reschedule their travel arrangements and to clear their calendars for a future potential date. Alternatives An obvious alternative is to cancel the conference. By cancelling the conference it may...
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...MGMT530 – Labadee Decision Week 5 Case Analysis Template The objectives for the assignment were to define the uncertainties using a risk profile and make the recommendation for a decision for the Labadee Case. Students will have a wide variety of responses based on the limited information provided in the case. Risk Profile Uncertainty 1: How will the guests react? | Outcome: | Chance | Consequences: | Guests react positively | 50 | Attract more guests that want to assist Royal Caribbean International in the aid efforts to the people of Haiti | Guests react negatively | 50 | Cancellation of their reservations | Uncertainty 2: How will Labadee be impacted? | Outcome: | Chance | Consequences: | Haiti is impacted positively | 70 | Community will maintain income and receive assistance from Royal Caribbean International and guests traveling | Haiti is impacted negatively | 30 | Community will lose income and Haiti will be worse off by Royal Caribbean not stopping at the port | Uncertainty 3: How will the media respond? | Outcome: | Chance | Consequences: | Good press | 20 | Royal Caribbean International continues to stop in Haiti | Bad press | 80 | Royal Caribbean International removes Labadee from the itinerary | Decision Recommendation Decision Recommendation | Alternative Recommended | Summary Rationale | Continue stops to Labadee | Based on the outcomes weighed, I think it is in the best interest for Royal Caribbean International and Haiti that the ships...
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...MGMT530 – Conference Decision Week 1 Case Analysis Template Katrina Johnson Management 530 Managerial Decision-Making 1) Define the decision problem? This case is about an Accounting System User’s Conference that was to be held in New Orleans, LA. However, due to Hurricane Katrina, the hotel is no longer able to accommodate the conference. Management must decide whether to move the conference to a different venue or change the dates to a later time, giving registrants’ limited notice. 2) What is the general nature of the problem? Competition for participants to take part in this conference is critical for customer retention, product development and product enhancements. Due to the magnitude of the destruction left in the wake of the hurricane, there is a strong likelihood that the conference will not be held. In addition, switching locations could possibly result in a loss of customers and the reputation of the hotel. 3) What event triggered the situation? Although Hurricane Katrina was the root cause of the dilemma, a natural disaster is a foreseeable event. Management should have had a backup plan in place, therefore the triggering event in my opinion is the lack of preparation on behalf of management, conference organizers, and hotel management. 4) What are the imposed constraints on the situation? As stated in the case, all attendees have prepaid their registration fees. They have to decide whether they want to still attend the...
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...MGMT530 – Conference Decision Week 3 Case Analysis The assignment was to create the following: * A consequence table * A weighted scoring model Are there any dominated alternatives that can be eliminated? Are there any even swaps? Consequence Table | | ALTERNATIVES | | | Cancel conference for this year—schedule for next year | Keep in New Orleans, but schedule for a later date (when the hotels re-open) | Keep same dates, but move to another city | Move to another city and schedule for a later date | OBJECTIVES | Maximize attendance | Does not meet objective. | Does not meet objective. | Does not meet objective. | Meets objective. | | | Senior management stated that cancelling is not an option. | Uncertainty on when New Orleans will be back in business is too far off. | Cost and logistics of finding a new location and getting attendees to change flights with such short notice is cost prohibitive. | In a survey of attendees, they would be willing to look at a new date in October and were most interested in Las Vegas, Chicago, or New York as alternative sites. | | | Does not meet objective. | Does not meet objective. | Does not meet objective. | Meets objective. | | | Refunding registration fees would cause a loss for conference. | Because of uncertainty with city, the registration fees would need to be refunded. | Conference would lose money and incur additional costs for last minute scheduling. | A preliminary survey shows that costs...
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...MGMT530 – Conference Decision Week 1 Case Analysis Template 1) Define the decision problem? As indicated by the scenario it seems that the decision problem is a matter if the accounting systems annual conference that is previously scheduled to occur on September 13-16,2005 should be canceled, due to the fact Hurricane Katrina has occurred and demolished building and homes leaving them in ruin in the city of New Orleans, Louisiana. The primary issue thus becomes does the board or committee moves the conference to a future date or have conference at another location that would thus incur higher costs for hotel for patrons of the conference in addition to it would be a price increase for flights that were already scheduled to New Orleans. 2) What is the general nature of the problem? The issue is categorized as a non-program problem due to the fact that it is a natural disaster that is not able to be controlled. Since it is not able to be controlled areas no forecasting as to the extent of damage nor the range of geographic devastation that will occur to the area or surrounding cities. 3) What event triggered the situation? Hurricane Katrina has laid ruin to the city of New Orleans, Louisiana. Thus patrons are not able to stay in the allocated hotel for the conference to be held. 4) What are the imposed constraints on the situation? The constraints on the particular situation are the fact that 200 and participants have already prepaid for the conference...
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...Running Head: Course Project: School For Thought Course Project: DeVry University – Keller Graduate School of Management Managerial Decision-Making (MGMT530) September 2012 Table of Contents Executive Summary 3 Introduction – Overview of Decision Problem 4 Problem Statement 4 Objectives 4 Summary of Key Objectives: 5 Alternatives 6 Description of Alternatives: 6 Selection 6 Consequence Table with Original Values: Title 7 Weighted Scoring Model: Title 8 Consequences 9 Risk Profile: Title 9 Implementation, Monitoring and Control 10 Timeline: 10 Summary 11 Works Cited 12 Executive Summary I am nearing the end of my graduate studies for a master’s in nursing administration. I was presented with the option to continue for another year at my present academic institution for a master’s in business administration. However, an additional option was presented from another academic institution, to pursue a doctorate degree in nursing practice. The program is two years. Should I pursue another master’s degree but in business administration or move on with my master’s in nursing administration and go right for my doctorate in nursing practice? My true goal is to stay true my nursing core values. I would like to be prepared for a role as a Chief Nursing Officer (CNO). Introduction – Overview of Decision Problem Problem Statement The nature of the decision correlates to pressure as I am quickly approaching...
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