...company called Paragon Tool possibly merging with Monitor Robotics. The CEO that goes by Nicky, has to weigh all the options and compare the costs to the benefits. The merger might not sit right with the community, which has a lot of respect for the company the way it is right now. Another possible issue is a failure in the merger such as the Monitor Robotics technology not being able to be used with Paragon machines. This would mean a huge cost with the possibility of having to let go of employees by downsizing to try and stay afloat. On the other hand if it was successful the merger would bring in more employees, more customers, and just make the company better in general. Problems with merger also includes the current CFO William Littlefield who is very opposed to the merger, and Paragon Tools would have to consider the cost of losing him as well as hiring another knowledgeable CFO to replace him. Another issue brought up in the case is upper management not being unanimous in the approval of this merger. To have any chance for success in this merger, all the upper management has to agree on it because the employees will pick up on any hesitation and it could send the whole process awry. PART II: Using a minimum of 200 words each answer the following questions. (50 Points) 1. Why might Paragon Tool want to pursue acquisition of MonitorRobotics? What are the associated risks? Paragon would want to acquire Monitor to expand its current business capabilities as well as...
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...In business decision making most useful tool is demand and supply. Demand and supply are very broad area in economics. It will talk about very thing in the business. If do not know about the demand and supply, then cannot make a decision on the business. In this easy will discus about the demand and supply and other tools of business decision making. A market is a set of arrangement by which buyers and seller exchange goods and services. Let us look about demand. Demand can be described as the relationship between quantity demanded for a particular good or service in specific circumstance. Also demand is define as the quantity of a good or service that consumers are willing and able to buy at a given price in a given time period. Each of us has an individual demand for particular goods and services and the level of demand at each market price reflects the value that consumers place on a product and their expected satisfaction gained from purchase and consumption. The following example gives a demand curve. Price | | | | | | | | 30 | | | | | | | | | | | | | | | | 20 | | | | | | | | | | | | | | | | 10 | | | | | | | | | | | | | | | | 0 | 2 | 4 | 6 | 8 | 10 | 12 | Quantity | The demand curve shows an estimate about the relationship between the price of any particular product or service and the quantity of that product that will be demanded by consumers. It is usually assumed to slope downward, in the general...
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...Accounting: Tools for Business Decision Making 5th Edition Chapter 1 1. Forms of Business Organizations * Sole proprietorship: owned by one person * Easy to set up * Gives you control * Examples: barber shops, law offices, auto repair shops * Partnership: business owned by two or more people * More economic resources * Unique skills and resources * Important to have written partnership agreement forms * Examples: retail and service-type businesses, professional practices * Corporation: business owned by stockholders * Easy to sell (transfer ownership) * Consists of stockholders and investors * Easier to raise funds * Examples: Coca-Cola, General Motors, ExxonMobil * Hybrid Business: tax advantages of partnerships and limited liability of corporations * Taxes and legal liability are important * Sole proprietorship have more favorable tax treatments but personally liable for debts and legal obligations 2. Users and Uses of Financial Information * Accounting: information system that identifies, records, and communicates the economic events of an organization to interested users * Users: internal users and external users * Internal Users: managers who plan, organize, and run a business * Examples: marketing managers, production supervisors, finance directors, and company officers * Accounting provides internal reports (financial...
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...Smith Critical Thinking: Strategies in Decision Making /MGT 350 Cyndie Shadow, M.B.A. January 28, 2008 Abstract Business company owners and store managers in the retail industry must ensure their businesses are competitive to the industry, in order to maintain their store doors open. In the following scenario a problem evaluation and decision making process is simulated to assist in evaluating a specific retail stores current state. A description of the types of evaluation tools and techniques used and how they assisted with the evaluation of the decision-making process and outcomes will be outlined. A consideration if other types of tools and techniques would have generated better results will be evaluated. The purpose of this paper is to demonstrate the decision-making process and how different tools and techniques assist with critical thinking. Credenhill is a competitive retail business which is the subject of a simulation. At this time one of Credenhill’s local stores is dealing with problems which range from low sales, unhappy employees to other issues affecting their current operations. During the simulation we went through a problem evaluation and decision-making process intended to identify Credenhill’s current state, suggest corrective actions and measurements to ensure that the outcome of the corrective actions are beneficial to the store. In the following we will discuss the tools and techniques used in the simulation...
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...Identification When making decisions toward a problem, a manager is responsible for coming up with a solution or solutions to solve the problem. There may be the same situation that may occur in but not every individual will choose the same solution to solve the problem. Based on the Thinking Critically Simulation an individual is to assume a role of a manager and find ways to come up with solutions to solve the problem. The four people on Team X took the simulation will result in four different ways of using the tools and techniques to solve the problems. For Team X to complete the simulation members had to record their information on three documents that would help them come up with a valid solution to solve the problems that was mention in the simulation. Allowing each individual to discuss what she thought of the simulation, discusses how the tools and techniques used and how changing an individual’s way of thinking will prove that not everyone think alike and that there is not right solution. The simulation is designed to test Team X’s problem formulation and decision implementation skills. Terria’s impression of the simulation was that it allowed an individual to see what problems managers have when trying to manage a business and how they will come up with a decision. She believed that this allowed the individual to be put in a management position and come up with a good solution to solve the problems that the business is having and after making a decision the individual...
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...15 Management Accounting and Decision-Making Management accounting writers tend to present management accounting as a loosely connected set of decision‑making tools. Although the various textbooks on management accounting make no attempt to develop an integrated theory, there is a high degree of consistency and standardization in methodology of presentation. In this chapter, the concepts and assumptions which form the basis of management accounting will be formulated in a comprehensive management accounting decision model. The formulation of theory in terms of conceptual models is a common practice. Virtually all textbooks in business administration use some type of conceptual framework or model to integrate the fundamentals being presented. In economic theory, there are conceptual models of the firm, markets, and the economy. In management courses, there are models of organizational structure and managerial functions. In marketing, there are models of marketing decision‑making and channels of distribution. Even in financial accounting, models of financial statements are used as a framework for teaching the fundamentals of basic financial accounting. The model, A = L + C, is very effective in conveying an understanding of accounting. Management accounting texts are based on a very specific model of the business enterprise. For example, all texts assume that the business which is likely to use management accounting is a manufacturing business. Also, there is unanimity in assuming...
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...Management Tools for organizational Excellence MGT/449 July 14, 2012 Steven Kohorst Quality Management Tools for organizational Excellence It is important for business management to adopt the concept of total quality management. Total quality management is a business practice for companies to ensure quality in products and services. Companies can make business more effective and customer oriented using total quality management tools. This paper will discuss a case provided in chapter 15 of the book reading (Goetsch & Davis, 2010). Cignet Plastics for years has been featured and known as a favored supplier for major producers of model airplane kits. The company is a contract plastics die- casting house with a large amount of clients. Through audit findings there has not been any changes to the company process and defect rates have increased on the parts the company produces. Quality Assurance informs the president that the defects are some variation related to an assignable cause. The president to explain the situation has called me; he believes that the company process needs to be changed to eliminate the number of defects. In business today it is important for managers to employ process thinking for company success. Managers are constantly called for decisions and problems solving. Employees do not always analyze the situation or processes carried out and believe processes cannot be improved. Quality tools are used in...
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...Week Three: Decision Making Details Objectives 3.1 Describe tools and/or techniques used in decision making. 3.2 Examine decision-making models and influences. 3.3 Apply a decision-making technique to a situation. Readings Read Ch. 14 of Critical Thinking: Tools for Taking Charge of Your Learning and Your Life. Read Ch. 1–3 of Smart Things to Know About Decision Making. Read Ch. 4, 12–26 of Decide & Conquer: Make Winning Decisions and Take Control of Your Life. Read this week’s Electronic Reserve Readings. Participate in class discussion. Respond to weekly discussion questions. W3 8 2% Participation Discussion Questions Nongraded Activities and Preparation Decisions in Paradise Business Scenario For Weeks Three through Five, you will work individually using the Decisions in Paradise Business Scenario located on your student website as the basis for these three assignments. In this scenario, you will play the role of Nik, and your current employer is the organization represented by Alex, Nik, and Chris. You will also use the mission of your current organization to assist you in decision making in discussing this business scenario. There are three phases to this assignment which will be cumulative, meaning that each part will build upon the next. You will use this paper and feedback from your instructor as input to improve your Week Four and Week Five assignments. The three deliverables for this project are: Week Three: Decisions in Paradise Paper, Part I Week Four:...
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...Report on Business Decision Making ( Prity) INTRODUCTION Because of the globalization everyone can do business wherever find profitable place or location, for technological development it become easier and accessible to do business one corner from another corner of the world. Although there is lots or benefits for technological advancement, for operating every business in every place there are some problem also. So for effective business organization should plan for their project. For market research, Abacus Research and Analytics (ARA) a research institute, this institute is going to do a research on consumer behaviors and attitudes towards Food Discount in Retailing by Wm Morrison in Greater London for providing the customer better services. This research will help the organization to take correct and concrete decision for the improvement of customer service for customer satisfaction. Amicus company ltd., Royal company ltd., and . Every company has some problem to operate business although these companies located in good places. These companies want to acquire customer satisfaction by improving customer services. So for better improvement in customer services, Abacus Research and Analytics (ARA) is doing a research for taking correct decision. Abacus Research and Analytics (ARA) collect their information from primary and secondary sources which are authentic as well as accurate, and necessary tools which are relevant to this research used to analysis and calculating data...
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...Study: Business Intelligence Concepts and Approaches Saeed Rouhani Islamic Azad University, Firoozkooh Branch Department of Industrial Engineering, Firoozkooh, Iran E-mail: SRouhani@iust.ac.ir Tel: +98-912-2034980 Sara Asgari MehrAlborz University, Tehran, Iran E-mail: sara.asgary29@gmail.com Seyed Vahid Mirhosseini MehrAlborz University, Tehran, Iran E-mail: vmirhosseini@gmail.com Abstract In today’s challenging business environment, it is a vital for organization to access useful information and knowledge. Business Intelligence (BI) is an umbrella concept for tools, techniques and solutions that helps managers to understand business situation. And BI tools can support informational knowledge needs of organizations. With respect to increasing trend of BI researches in BI concepts and applications, in this paper, recent researches and papers of academic journals in this field is systematically review to classify and prioritize the concepts and approaches of business intelligence. Consequently researches was classified in three, managerial, technical and system enables approaches to BI, and specification of each approach and future research quid was described. Keywords: Business Intelligence; Enterprise Intelligence Approaches Systems; Review Study; Business 1. Introduction Today, in the rapidly changing environment, need to correct and just-in-time information is not only necessary for success but also is required for remaining in competition. Business intelligence...
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...Decision support systems and Business Intelligence: an overview Contents Course introduction 1–3 Module one objectives 1–3 Use of Study Guide 1–3 Suggested study schedule 1–4 Readings 1–4 Changing business environments and computerised decision support 1–4 Managerial decision-making 1–5 Computerised support for decision making: systems and technologies 1–5 The systems 1–5 The technologies 1–5 A framework for decision support 1–6 Management science 1–6 Concept of decision support systems & business intelligence 1–7 DSS – BI connection 1–7 Course plan and themes 1–7 Conclusion 1–8 Course introduction This first module aims to provide an overview of the topic and provide the broad backdrop into which the other modules will fit. Today’s business environment is constantly changing, and it is becoming more and more complex. Private and public organizations are required to respond quickly to changing conditions; be it government regulations or informed customers or market conditions. This requires organizations to be agile and to make frequent and quick strategic, tactical, and operational decisions. Making such decisions may require considerable amounts of relevant data, information, and knowledge. Processing these, in the framework of the needed decisions, must be done quickly, frequently in real time, and usually requires some computerized support. This course is about using business intelligence as computerized support for managerial...
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... | | | |Managerial economics applies economic theory and methods to business and administrative decision making. Managerial economics | |prescribes rules for improving managerial decisions also helps managers recognize how economic forces affect organizations and | |describes the economic consequences of managerial behavior. It links traditional economics with the decision sciences to develop | |vital tools for managerial decision making. Managerial economics identifies ways to efficiently achieve goals. For example, suppose| |a small business seeks rapid growth to reach a size that permits efficient use of national media advertising. Managerial economics | |can be used to identify pricing and production strategies to help meet this short-run objective quickly and effectively. | | | |Managerial economics helps the manager or the groups of people making the decisions to increase their problem analytics skills as | |well as formulation solution to probabilistic problems. The main differences between managerial economics and the other branches of|...
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...BIG DATA - THE MANAGEMENT REVOLUTION Summary The general theme of the article is to proof how data-driven decisions are better for businesses as data enables the managers to base their decision on evidence rather than intuition. The idea behind big data is to collect all kinds of data from various sources and to effectively utilize this data to improve the financial and operational aspects of the business. Companies that operate on digital platforms like Amazon are already experts at big data and are using the predictions based on data in a deft manner. The practice of big data should not be confined to companies that operate digitally but should be implied by other businesses as well, as big data is a revolutionary practice that provides data in larger volumes with higher velocity with which data is complied and entailed and the variety in which data is available. Furthermore, modifying a company to be data-driven is not only technologically challenging but poses a copious amount of managerial challenges as well. The decision is usually based on the senior manager who has to know how to answer questions and how to embrace evidence based decision. For a company to re-organize itself to become data-driven, the manager should concentrate on improvising five areas that include, leadership, talent management, technology, decision making and company culture. The author cities instances of big data using examples of airports where PASSUR Aerospace provided a service called...
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...ACC/561 February 15, 2016 Jason Lee Introduction Incremental analysis is a decision-making method that utilizes the concept of relevant costs. Under this method, the decision involves the following steps: (1) gather all costs associated with each alternative; (2) drop the sunk cost; (3) drop those costs that do not differ between alternatives; and (4) select the best alternative based on the remaining cost data ("All Business: Your Small Business Advantage", 2005). Incremental analysis is primarily used to decode costs associated with a particular project—buying or selling, making or buying etc., whereas comprehensive analysis is gathering information for the entire company. Comprehensive analysis refers to the complete analysis of every relevant aspect of a company's financial operations. The goal of such analysis is to provide a complete picture of the financial status of a company both in the current time and projected into the future. (“Wise Geek”, 2003). Incremental Analysis The main purpose of an incremental analysis is to properly identify the relevant costs and revenues concerning multiple options imminent to assist managers with making a decision. When a manager has identified and divided these options into variable and fixed costs, they will then be able to solve any problems that may have occurred and finally make a decision. RICHA (2014), “Incremental analysis is an effective tool to determine the best alternative that can yield the highest revenues with the...
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...at: nerdypupil@gmail.com ACC 349 WEEK 2 TEAM ASSIGNMENT CASE STUDY BYP Prepare written responses to the following case study from Ch. 2 of Managerial Accounting: Tools for Business Decision Making: Managerial Analysis BYP 2-2 Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 349 Week 2 Team Assignment Case Study BYP in order to ace their studies. ACC 349 WEEK 2 TEAM ASSIGNMENT CASE STUDY BYP To purchase this visit here: http://www.nerdypupil.com/product/acc-349-week-2-team-assignment-case-study-byp/ Contact us at: nerdypupil@gmail.com ACC 349 WEEK 2 TEAM ASSIGNMENT CASE STUDY BYP Prepare written responses to the following case study from Ch. 2 of Managerial Accounting: Tools for Business Decision Making: Managerial Analysis BYP 2-2 Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 349 Week 2 Team Assignment Case Study BYP in order to ace their studies. ACC 349 WEEK 2 TEAM ASSIGNMENT CASE STUDY BYP To purchase this visit here: http://www.nerdypupil.com/product/acc-349-week-2-team-assignment-case-study-byp/ Contact us at: nerdypupil@gmail.com ACC 349 WEEK 2 TEAM ASSIGNMENT CASE STUDY BYP Prepare written responses to the following case study from Ch. 2 of Managerial Accounting: Tools for Business Decision Making: Managerial Analysis BYP 2-2 Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 349 Week 2 Team Assignment Case Study BYP in order...
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