...Resource: Ch. 9 of Applied Statistics in Business and Economics Prepare answers to the following assignments: * 1. Chapter Exercises 9.54 Faced with rising fax costs, a firm issued a guideline that transmissions of 10 pages or more should be sent by 2-day mail instead. Exceptions are allowed, but they want the average to be 10 or below. The firm examined 35 randomly chosen fax transmissions during the next year, yielding a sample mean of 14.44 with a standard deviation of 4.45 pages. (a) At the .01 level of significance, is the true mean greater than 10? (b) Use Excel to find the right-tail p-value. [Use Excel- Megastat, hypothesis tests, mean vs. hypothesized value, z-test or Use Phstat, one-sample tests, z-test for the mean, sigma known. Show all 5-step procedure for hypothesis test. See the model example in the lecture - one population test for a small sample]. * * 2. Chapter Exercises 9.64 An auditor reviewed 25 oral surgery insurance claims from a particular surgical office, determining that the mean out-of-pocket patient billing above the reimbursed amount was $275.66 with a standard deviation of $78.11. (a) At the 5 percent level of significance, does this sample prove a violation of the guideline that the average patient should pay no more than $250 out-of-pocket? State your hypotheses and decision rule. (b) Is this a close decision? [Use Excel- Megastat, hypothesis tests, mean vs. hypothesized value, t-test or Use Phstat, one-sample tests,...
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...Methodology: A survey on university student’s knowledge on the constituent of soft drinks and any associated adverse health effects. A set of questionnaires were used to gather information about people (university of Ghana students’) knowledge on soft drink consumption and any related health effects. Three categories of data were asked; (1) personal, (2) lifestyle and (3) constituent knowledge and health. (Table 1). Table 1. Overview of questions given to the university of Ghana student. Data group Description Personal data Sex and Age Lifestyle What type of soft drink do you like (coca-cola, pepsi- cola, fanta, sprite, 7 up, alvaro and others); how many bottles do you consume daily, weekly; their preferred packaging choice (can, plastic, glass). Component knowledge and health Knowledge of constituent of soft drinks; any reaction or symptoms on intake of soft drinks. The questionnaires were conducted in English and were administered at the University of Ghana, legon campus. A total of 175 students were interviewed. The aim of the study was explained to the students and their responds were collated. Students’ knowledge on the component of soft drinks and health risks were assessed by asking the student the possible reaction and symptoms the individual experience upon the intake of soft drinks. Statistical software SPSS was used to analyze the data. Results and Discussion Constituent...
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...STRATEGIC MANAGEMENT Objective: This course conveys the concept of strategy and its usefulness by exposing students to a variety of organizational situations. It enables students to look at organizations in their totality and appreciates the interrelationship among different functions. It will help students understand the strategy of organizations and thereby enable them in making major decisions, formulating policies and participate in implementation of corporate strategies. Contents: Unit I (6 Sessions) Introduction: Strategic management (SM) , Business Policy (BP) and Business Plan; Basic concepts of SM; Impact of Globalisation and e-Com; Theories of organisational adaptation; Creating a learning organisation; Basic model of SM; Strategic decision making; Impact of Internet; Firm and its environment. Unit II (6 Sessions) Scanning the environment: Environmental scanning; Industry analysis; Competitive intelligence; Forecasting; Synthesis of external factors; ETOP Study. Internal scanning: Organisational analysis; resource-based approach; value chain analysis; Scanning functional resources; Strategic audit; Unit III (6 Sessions) Strategy formulation: Situational analysis: SWOT analysis, TOWS Matrix; Corporate strategy; Strategies for growth and diversification; Process of strategic planning; Stages of corporate development; Portfolio analysis; Corporate parenting; Functional strategy; Core competencies; Strategic choice. Unit IV (6 Sessions) ...
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...Clarity Case Study Reliance Case Study Unified OSS How Lean Operations and High Growth Have Worked for Reliance 2 |Reliance Case Study Rajeev Singhal Rajeev Singhal has more than 10 years experience in Operations and IT divisions in the Telecom Industry. He has traveled extensively across the globe and has worked with leading mobile operators in Europe and North America. Rajeev has been instrumental in setting up key systems and business processes for a greenfield operator. He has experience in integration across CRM, Billing, GIS and a host of network elements in voice and next generation data networks. Rajeev heads the design and development of OSS applications portfolio spanning Global, Enterprise, Broadband and 2G Wireless Services at Reliance Communications which is one of the worlds largest and fastest growing telecommunications service provider. Rajeev holds a B. Engg (Hons) in Electronics and Telecommunications from Allahabad University and an MBA from N.M.I.M.S Mumbai. Rajeev Singhal is the Head of OSS for Reliance Communications This paper is based on a case study, presented by Rajeev Singhal, OSS Head, Reliance Communications, at the Frost and Sullivan OSS BSS Asia Pacific Summit, March 2008, Singapore. 3 | Reliance Case Study Introduction “India is still basking in the glow of becoming the world's fastest-growing mobile phone market," said Kalcina. "Last year alone, the number of mobile phone subscribers in India nearly doubled from the previous...
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...Strategic Plan, Part III: Balanced Scorecard Rebecca Lanham BUS 475- Integrated Business Topics August 1, 2011 Phyllis Koch 2 Balance scorecard is essential for developing a healthy business growing place. This is a vital key for defining the goals and targets of a company as well as the vision, mission, and the SWOTT Analysis. A Balanced Scorecard is, A set of four measures directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth (Pearce and Robinson, 2009, p. 202). This term paper will relate TL Concrete Services, values, mission, vision and SWOTT Analysis with the four perspectives of the scorecard (financial performance, customer knowledge, internal business process, and learning and growth). Financial Perspective/Shareholder Value A strong and well defined vision and mission statement will facilitate the company to achieve its target. The objectives of TL Concrete Services should be implemented as a daily routine so as to increase the performance of the company. The first and foremost responsibility of a company is to seek its customer satisfaction, benefit utilization, increased net revenues, and also to achieve financial stability. To evaluate the financial stability of a company, one should calculate the Operating cost, Earnings per share, growth revenue and return on interest and capital. If we succeed how we will look to our stakeholders Customer Value Perspective. The customers determine...
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...Strategic Management Environment of any organization can be considered as “the aggregate of all conditions, events and influences that surround and affect it”. Environment is complex as it consists of a lot of factors arising from different sources. The nature of environment is one of dynamic as it keeps changing continuously. The impact of environment on organization is deep and far reaching. Environmental Factors Environmental factors can be classified as: i) Macro environmental factors and ii) Factors, which are specific to the given business i.e., task environment. Concept of Environment The external environment provides opportunities and threats to organization whereas the internal environment holds the key to strengths and weaknesses. 1) An opportunity is a favorable situation, which enables an organization to strengthen its present position. For example, access to new markets is an opportunity arising from WTO. 2) A threat is an unfavorable situation which results in risk and damage to an organization, For example, the entry of MNCs into domestic market due to WTO, poses stiff competition to existing players 3) Strength is an inherent capacity, which can be used for developing strategic advantage. Fro example, superior R & D facilities used for developing new enzymes and molecules is a strength for companies like Ranbaxy and Biocon. 4) A weakness is an inherent constraint, which creates disadvantage for firms. For...
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...Organizational Culture: Identify aspects of the company that help create a positive culture. Pfizer Inc. is one of the world’s largest pharmaceutical companies, one of its major key roles across the world is the effort to improve healthcare. Pfizer’s strategy is built around a motto it calls “Treat, Teach, Build, and Serve. As a research-based organization, a key portion of the report is devoted to its work in finding cures and treatments through research and development (R&D). The report cites a partnership with the World Health Organization to extend its work to tropical disease research, which mainly affects the poor. Pfizer Inc. carries out this research by using the company’s existing capabilities to find new medications that will serve the needs of the sick. The positive aspect of this company is its significant contribution to public health. It has numerous programs, in partnership with local and international non-governmental organizations, to help raise the capacity for strong health systems. Its projects includes the “Mobilize Against Malaria”, this is a joint project between Pfizer Inc., and a number of NGOs and African governments; another program is the Connect HIV, this is a program supported by local groups in the United States; and several disease management programs have been started in the U.S., the UK and Italy. Pfizer also focuses on effective delivery of medication, which is often thwarted due to poor infrastructure and lack of education. These...
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...Universiti Kebangsaan Malaysia Graduate School of Business COURSE NAME: STRATEGY AND COMPETITIVENSS (SEMESTER 2014/2015) COURSE CODE: ZCZB6523 (SET 5) CREDIT: 3 HOURS TRIMESTER: 7th FEB 2015 The course starts on 7th February 2015. The first class will be a full lecture session. The subsequent classes will require groups (of two students) to make their respective presentations on their selected company. Most classes are on Saturdays from 8.30 -11.30 am 1.0 COURSE OBJECTIVES and LEARNING OUCOMES: This course focuses on some of the important elements of strategic management. It will concentrate on strategy development and competitive advantage. It is consciously designed to highlight the significant emerging trends in strategic management. The course provides students with a practical approach to the formulation and implementation of corporate, business, and functional strategies. The course is also meant to give graduate students the skill to derive strategies rationally for the organizations that they are currently working for or have chosen for their analysis. There are no strategic decisions that are perfect under the current turbulent business environment. Therefore, a rational approach to strategic decision-making is deemed most appropriate. However, the strategy developed may not survive in its original form upon execution. Accordingly, these strategies have to be adjusted to meet the current challenges. Emergent strategies that were unplanned...
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...What role can top management play in helping a company achieve superior efficiency, quality, innovation, and responsiveness to customers? The role that top management plays in helping a company achieve superior efficiency, quality, innovation, and responsiveness to customers is of the utmost importance. Managers put into play functional - level strategies that have a huge impact on a company’s performance and helps the company to create a competitive advantage over the competition. It is through the selection and use of functional - level strategies that increases the benefit or utility that a customer can get from a company. It is these benefits that then can assist in creating a competitive advantage. There are several steps to increase efficiency. In this unit we learn that these are; Economies of Scale, Learning Effects, Experience Curve, Flexible Manufacturing and Mass Customization, Marketing, Materials Management and Supply Chain, R&D Strategy, Human Resource Strategy, Information Systems, and Infrastructure. Managers can improve efficiency and quality through the use of the Human Resource Strategy by hiring and training employees that can produce at a faster and more accurate manner, and accuracy increase quality and being able to produce faster increases efficiency. Through the use of Information Systems companies can increase their innovation, efficiency, quality and responsiveness to customers because Information Systems automates the company’s activities. This...
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...Phase 4 DB Donna Walker MGM255-1303B-12: Management Fundamentals Professor Paula Hagstrom September 11, 2013 Strategic Plan for Nike Strategic Plan: Plans that apply to the entire organization and establish the organization’s overall goals I. Introduction a. Executive Staff b. Managers c. Field Workers II. Nikes Mission Statement To bring innovation and motivation to every athlete in the world (www.nikeinc.com ) a. Aspires to reach every athlete by expanding to every country whether online or in a conventional shopping environment b. Has personnel on a global level c. Online support world wide d. Open communication lines with staff e. Open communication lines with customers f. “Built in advertisement due to such a wide spread client base g. Creators of “The Girl Effect” A global effort to educate young girls and pull them from poverty. III. Positive/Negative Changes Over a Period of Time a. Technological expansion 1. Nike has been able to network to over 300 countries in the past 10 years through utilizing internet expansion 2. Nike has also doubled their business since starting to allow online purchases 3. The cultural base for Nike differs depending on what country is being worked out of, they at Nike are very culturally diverse with constant upgrading in training and resources to better deal with their customers no matter where they may be in the world. b. Negative Effects of Organizational...
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...I. Current Situation a. Current Performance i. How did the corporation perform the past year overall in terms of ROI, market share, and profitability? b. Strategic Posture What are the corporation’s current mission, objectives, strategies and policies? i. Are they clearly stated, or are they merely implied from performance? ii. Mission: What business is the corporation in? Why? iii. Objectives: What are the corporate, business, and functional objectives? Are they consistent with each other, with the mission, and with the internal and external environment? iv. Strategies: What strategy or mix of strategies is the corporation following? Are they consistent with each other, with the mission and objectives, and with the internal and external environments? v. Policies: What are the corporation’s policies? Are they consistent with each other, with the mission, objectives, and strategies, and with the internal and external environment? vi. Do the current mission, objectives, strategies, and policies reflect the corporation’s international operations, whether global or multi-domestic? II. Corporate Governance a. Board of Directors i. Who is on the board? Are they internal or external members? ii. Do they own significant of stock? iii. Is the stock privately held or publicly traded? Are there different classes of stock with different voting rights? iv. What do the board members contribute to the corporation in terms of knowledge, skills background, and connections?...
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...Innovation, Ethics, and Entrepreneurship Morgan P. Miles Linda S. Munilla Jeffrey G. Covin ABSTRACT. This paper is a response to Ray’s (2004) recent proposal that the intellectual property rights (IPR) attached to potentially life saving/life sustaining innovations should become public goods in cases where markets are either unable or unwilling to pay for the creation of the intellectual property. Using a free market approach to innovation based on Western moral philosophy, we suggest that treating intellectually protected life saving/life sustaining innovations as public goods will likely reduce social welfare over the long term. KEY WORDS: entrepreneurship, ethics, innovation, intellectual property rights, policy ‘‘For the Scripture says, ‘Do not muzzle the ox while it is treading out the grain,’ and ‘The worker deserves his wages’ ’’ 1 Timothy 5:18. Ray (2004), in a recent critique of Miles et al. (2002), proposes that the intellectual property rights (IPR) generated from any life saving/life sustaining entrepreneurial initiatives should be transferred to the public domain whenever potential users of these innovations are unable or unwilling to enter into mutually beneficial exchange relationships with the creators of the IPR. This reply offers a perspective on why Ray’s (2004) imperative does not maximize social welfare and, in fact, will tend to diminish social welfare over the long-term as a result of lower economic incentives for innovation. Introduction ‘‘Few...
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...Chapter 17, 18, & 19 With Chapter 17: Jane Melody has assigned you to plan integrated marketing communications for Sonic’s new product introduction. Review the data, decisions, and strategies you previously documented in your marketing plan before you answer the next three questions. • What communications objectives are appropriate for Sonic’s initial campaign? Answer: Brand Awareness will provide a foundation for brand equity. Consumers are more likely to recognize a package than to remember a brand name. In previous questions we discussed ways in which Sonic can use packaging and labeling to support its brand image. The idea is to grab the attention of the customer. The Sonic 1000’s features, customizations, performance quality, and reliability product differentiations will allow the consumer to recognize the brand outside the store. “Purchase intention is defined as the likelihood that a consumer will buy a product.” As discussed in previous questions, Sonic should provide consumers as well as businesses with product allowances on trade ins from previous devices when purchasing a Sonic 1000. Promotional offers will encourage consumers to buy Sonic’s new product by offering an incentive to upgrade from a previous PDA. Sonic on the initial campaign should set objectives in order to gain awareness from our preconceived target market. Sonic’s objectives need to focus on knowledge, liking, preference, conviction, and purchase. Right now Sonic needs to focus...
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...their resources and capabilities. But they created an obsession with winning at all levels of the organization and then sustained that obsession over the 10 to 20 year quest for global leadership. We term this obsession “ stategic intent.” On the one hand, strategic intent envisions a desired leadership position and establishes the criterion the organisation will use to chart its progress. At the same time, strategic intent is more than simply unfettered ambition. The concept also encompasses an active management process that includes: focusing the organisation’s attention on the essence of winning; motivating people by communicating the value of the target; leaving room for individual and team contribution; sustaining enthusiasm by providing new operational definitions as circumstances change; and using intent consistently to guide resource allocation. Strategic intent captures the essence of winning, stabel over time and sets a target that deserves personal effort and commitment. (Hamel & Prahalad, 1989) Hierarchy of strategic intent includes five types of element ranging from (1) a broad vision of what the organisation should be, (2) the organisation mission , (3) specific goals (4) various strategic objectives (5) spesific plans. (Miller,1998) Stategic Intent An-nisa Tangerang Hospital VISION STATEMENT : To be characterized Islamic hospitals and community of choice MISSION STATEMENT * Providing quality and professional services * Realize the islamic value in...
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...Alesia Cleveland 03/23/2015 MAN4302 Management of Human Resources Individual Work- “Critical Thinking” Question 4/pg459 Professor: Helen MacLennon How would you oversea the design (or redesign) of a benefits program in a large organization? What issues would you consider? An overview of mandatory benefits, along with strategies for including each. An employer provides to workers for being part of an organization. A benefit is an indirect given to employee or group of employees for organizational membership. The benefits include retirement plans, vacation with pay, health insurance,educational assiatance,and many more programs. Employer Compensation and Benefits Cost per Hour: Health insurance $2.25,paid leave $1.78, defined retirement plan $0.42, define contribution retirement plan $0.03, short-term disability insurance $0.06,life insurance $0.04, long-term disability insurance $0.04.Robert L. Mathis/John H. Jackson 13th ed. Human Resource Management;Cengage Learning (pg.426). Benefits design are flexiable and choices for employees increasingly, employees are finding out that providing employees with choices and flexibility allows individuals to tailor their benefits to their own situations. Kamual Agarwala, August 7,2014.,Exactly Solutions delivered. There are different types of Benefits: Government mandated and Employer voluntary: Security Benefits, Health Care , Family, Retirement, Financial, Family, Time-Off, Miscellaneous, there are many mandated benefits...
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