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PROJ 410 Contract and Procurement_Final Term Exam_All Questions_answers_Completely detailed out_A+Answer

PROJ 410 Contract and Procurement_Final Term Exam_All Questions_answers_Completely detailed out_A+Answer

PROJ 410 Contract and Procurement_Final Term Exam_All Questions_answers_Completely detailed out_A+Answer

 

Set 1:

Week 8 : Wk8 – Final Exam

Page 1

1. (TCO 1 & 4) What would facilitate a business process outsourcing transition quickly and maintain some consistency in the organization? (Points : 5)
allow the outsourced firm autonomy to create its own policies and procedures with no regard for the project’s goals
quickly lay off all employees
retain key employees through transition
sidestep the RFP process because it takes too long

2. (TCO 4) Under this pricing contract, the buyer pays the seller’s actual costs and a fixed fee determined as a percentage of the estimated project costs. (Points : 5)
CPFF
CPF
CBF
CPIF

3. (TCO 7) Which step(s) should a buyer take to evaluate the seller’s proposal? (Points : 5)
Establish a scoring system
Weigh each evaluation criterion
Select key evaluation criteria
All of the above

4. (TCO 5) Negotiations in a BPO agreement are largely determined by which factor? (Points : 5)
The underlying objectives of each of the parties
The scope of services being outsourced
The relative bargaining positions of the parties
All of the above are factors that determine negotiations

5. (TCO 6) Employee morale and expectations, buyer’s precedent, service level desired by the buyer, and the efficient delivery of services by the seller are all _____. (Points : 5)
reasons affecting the human resource transfer decision
reasons to outsource human resources
reasons to maintain the business process in-house
reasons to exclude offshoring contractors from bidding on an RFP

6. (TCO 3) Which is not a key component in the project procurement management process? (Points : 5)
Select sellers
Plan contracting
Request for proposal
Plan purchases and acquisitions

7. (TCO 6) What are some steps to take when communicating with employees that outsourcing will take place in the company? (Points : 10)

8. (TCO 2 & 6) What typically gets outsourced and what would be the benefits to outsourcing the items listed? Please list and discuss six reasons. (Points : 10)

9. (TCO 9) What happens after a renegotiation? Why does this happen? (Points : 10)

10. (TCO 8 & 9) What is benchmarking? Give two examples with which you are familiar, and tell why benchmarking is useful in outsourcing. (Points : 10)

Page 2

1. (TCO 8) What is a performance standard and how is this agreed upon? Recommend the components that would need to be included and why. (Points : 30)

2. (TCO 5) What laws should an organization consult before, during, and after a BPO? Describe two of the laws and how you would include this in a presentation to executives. (Points : 30)

3. (TCO 5 & 7) List and describe five components of a BPO. Then summarize why each of the items that you chose are important to the BPO process. (Points : 30)

4. (TCO 2 & 5) Describe in detail how the negotiation process works when this process is done correctly. Then convince the executive team that the legal team has to be represented in the negotiation process. (Points : 30)

5. (TCO 8 & 10) What is early termination? Give an example and then discuss how can this be avoided or minimized. Persuade the legal team that the verbiage to accomplish this needs to be included in the BPO agreement. (Points : 30)

6. (TCO 5 & 6) What are some considerations when a company will be transferring employees to the outsourcer? Anticipate issues that will be brought up by the employees and the responses that the company will provide. (Points : 30)

Set 2:

1. (TCO 1) A cost-plus-percentage-fee contract is a: _______. (Points : 5)
cost-reimbursable contract, the seller pays the buyer’s actual costs, and a percentage of the total project costs
cost-reimbursable contract, the seller pays the buyer’s actual costs, and all of the total project costs
cost-reimbursable contract, the buyer pays the seller’s actual costs, and a percentage of the total project costs
cost-reimbursable contract, the seller pays the buyer’s actual costs, and none of the total project costs

2. (TCO 2) The difference between the project manager and contract administrator is: ______.

(Points : 5)
the project manager is responsible for the project-related coordination, while the contract manager is responsible for administering the contract
the contract administrator has the authority to make all contract-related decisions, like approving a change order. The project manager does not have this level of authority.
the project manager is responsible for the administering of the contract, while the contract manager is responsible for project-related coordination.
the project manager has the authority to make all contract-related decisions, like approving a change order. The contract administrator does not have this level of authority.

3. (TCO 3) Which is a key component in the project procurement management process? (Points : 5)
RFI Request for Issue
RFP Request for Proposal
RFB Request for Buy
RFC Request for Contract
4. (TCO 2) Senior management typically has different reasons for issuing the directive to outsource than management responsible for the business process. Senior management typically decides to evaluate outsourcing because: ______. (Points : 5)
there is a means to focus more resources on business process strategy
there is a means to focus less resources on business process strategy
there is an effort to decrease performance
there is an organization-wide directive to downsize or cut costs

5. (TCO ) When notifying third parties in a transition plan, who would not need to be notified? (Points : 5)
Third-party vendors
Government or regulatory authorities
Customer’s competitors
Customer’s clients
6. (TCO ) In International contracts, which industry-specific question does not need to be asked? (Points : 5)
Which country’s standards are used?
What regulatory authorities are called into question?
What regulations are specific to the business process operations?
What notice requirements or approvals are needed before and after a contract signing?

7. If a contract is seen through its full term, list two items that should be completed as part of contract close-out? What is a close out manager? Why is deliverable acceptance documents so important?

8. (TCO 8) What are the two ways to rank the seller’s proposals before selecting a seller? (Points : 12)

9. (TCO 6) Sometimes, a seller is selected based solely on lowest price. However, sometimes this is not always the most efficient or effective way of selecting a seller. What are some of the other evaluation criteria that a buyer may use to help select a seller? (Points : 12)

10. What are some of the common techniques used for establishing service levels?

Page 2.
1. (TCO ) What is benchmarking? Please support your answer. Defend the cost of benchmarking in an industry. (Points : 30)

2. (TCO ) What happens when there is a failure in an SLA? Use an example to analyze a failure in an SLA and how important SLAs are to the buyer in a BPO contract agreement. (Points : 30)

3. (TCO ) What are the elements of a Request for Proposal (RFP)? Please list and discuss five of the elements. (Points : 10)

4. (TCO ) Part 1: Discuss the following types of contract pricing: (a) fixed price, (b) cost-plus price, (c) time & materials, and (d) unit price. Part 2: Explain the appropriate utilization of each contract pricing type and the impact of risk to the contracting parties. Part 3: What type of contract pricing structure misaligns the buyer’s motivations with the seller’s? (Points : 30)

5. (TCO ) List and describe five components of a BPO. Then summarize why each of the items that you chose are important to the BPO process. (Points : 30)

6. What does the outsourcing of the HR function involve? What are pros and cons of HR Outsourcing? What do you think are three critical considerations that you must include in the implementation plan for this outsourcing transition?

For getting the solution, Please click on the “PURCHASE” link below to get PROJ 410 Contract and Procurement_Final Term Exam_All Questions_answers_Completely detailed out_A+Answer.

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PROJ-410-Contract-and-Procurement_Final-Term-Exam

 

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GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

Set 1

Week 8 : Wk8 – Final Exam

Page 1

Question 1. 1. (TCO 10) ________ and ________ are the two basic organizational structures associated with logistics.
Centralized; hierarchical
Fragmented; centralized
Fragmented; unified
Unified; hierarchical

Question 2. 2. (TCO 10) One problem with a _________ logistics structure is that, because logistics activities are scattered throughout the firm, they likely remain subservient to the objectives of the department in which they are housed.
matrix
fragmented
decentralized
unified
hierarchical

Question 3. 3. (TCO 3) Rate structures deal with three factors. Which of the following is not one of them?
Shipment weight
Shipment distance
Product
Shipment direction
All of the above

Question 4. 4. (TCO 3) A transportation manager who purchases a pre specified level of transportation services, regardless of the mode and/or carrier providing the transportation services, is known as a(n):
amodal shipper.
logistics manager.
modal shipper.
transportation manager.
None of the above

Question 5. 5. (TCO 2) A function in organization that encompasses all activities associated with the flow and transformation of goods from the raw material stage through to the end user, as well as the associated information flows, is termed:
production line.
supply chain.
marketing channel.
warehouse.

Question 6. 6. (TCO 2) Which of the following is not a key attribute of supply-chain management?
Inventory control
Leveraging technology
Customer power
All are key attributes.

Question 7. 7. (TCO 1) Inventory held for a number of reasons, including projected price increases, seasonal demand, and potential stockouts, is referred to as:
speculative stock.
safety stock.
buffer stock.
pipeline stock.

Question 8. 8. (TCO 1) Vendor managed inventory (VMI) benefits include:
reduced inventories.
fewer stockouts.
higher revenues.
a, b, and c

Question 9. 9. (TCO 8) International freight forwarders can provide a number of functions. Which is not one of them?
Booking space on carriers
Obtaining consular documents
Preparing an export declaration
Arranging for insurance
All are possible functions.

Question 10. 10. (TCO 8) What is used in areas where dock workers cannot read but need a method to keep documents and shipments together?
An RFID tag
A shipper’s mark
A bar code
A shipment coordinator

Question 11. 11. (TCO 7) Which of the following statements is false?
Supplier selection and evaluation generally involve multiple criteria.
Selecting suppliers is the final step of the supplier selection and evaluation process.
The evolution of business practices and philosophies may require new supplier selection criteria.
Some supplier selection criteria may be contradictory.
All are true.

Question 12. 12. (TCO 7) The raw materials, component parts, and supplies bought from outside organizations to support a company’s operations define:
procurement.
global sourcing.
inbound logistics.
supply management.

Question 13. 13. (TCO 4) Logisticians and supply chain managers have a particular interest in ____ taxes.
real estate
corporate income
inventory
severance

Page 2

Question 1. 1. (TCO 4) A brownfield is:
a term for where crushed boxes are kept before recycling.
a term that refers to a potential facility site that has no trees needing to be cleared before construction.
a property for which use and redevelopment is complicated by past use.
an airport that lacks paved runways.

Question 2. 2. (TCO 5) ____ regulates the packaging of international air shipments.
An individual airline
The United Nations
A country’s federal government
The International Air Transport Association

Question 3. 3. (TCO 5) ____ systems consider the reverse flow of products, their reuse, and the marketing and distribution of recovered products.
Eco-
Open-loop
Retro-movement
Closed-loop

Question 4. 4. (TCO 6) The order cycle is:
the time it takes for a check to clear.
the time it takes from when a customer places an order until the selling firm receives the order.
also called the replenishment cycle.
also called the vendor cycle.

Question 5. 5. (TCO 6) Order transmittal is:
the same thing as an order cycle.
the series of events that occur between the time a customer places an order and the time the seller receives the order.
the series of events that occur between the time the customer perceives the need for something and the time the seller receives the order.
the series of events between the time a customer places an order and the time the order cycle begins.

Question 6. 6. (TCO 9) How do data and information differ?
Data are a body of facts in a format suitable for decision making, whereas information is simply facts.
They are the same.
Data are simply facts; information is a body of facts in a format suitable for decision making.
Data are associated with decision support systems; information is associated with ERP systems.

Question 7. 7. (TCO 9) Which of the following is not considered a general software package?
Spreadsheets
Word processing
Database management
All are general software packages.

Question 8. 8. (TCO 12) Surveys and analog techniques are examples of ____ forecasting.
cause and effect
time series
exponential smoothing
judgmental

Question 9. 9. (TCO 12) Which forecasting techniques tend to be appropriate when there is little or no historical data?
Exponential smoothing
Judgmental
Time series
Cause and effect

Question 10. 10. (TCO 11) A(n) ____ rate simplifies each of the three primary rate factors—product, weight, and distance.
class
ad valorem
commodity
exception

Question 11. 11. (TCO 11) The shipment size that equates transportation charges for different weights and weight groups is the ____ concept.
optimum cost reliability point
satisfying
weight break
maximum-minimum

Question 12. 12. (TCO 13) Throughput refers to:
the storage capacity of a warehousing facility.
volume through a pipeline.
inventory turnover in a one-month period.
the amount of product entering and leaving a facility in a given time period.

Question 13. 13. (TCO 13) ____ refers to a process where a product is received in a facility, occasionally married with a product going to the same destination, and is then shipped at the earliest time, without going into longer-term storage.
Just-in-time
Cross-docking
Consolidation
Turbologistics

Page 3

Question 1. 1. (TCO 4) What is a free trade zone?

Question 2. 2. (TCO 9) Discuss some of the challenges associated with computer security.

Question 3. 3. (TCO 9) Why are some companies hesitant to adopt RFID technology?

Question 4. 4. (TCO 12) Forecasting accuracy refers to the relationship between actual and forecasted demand, and accuracy can be affected by various considerations. What is one of the challenges with the analog technique?

Question 5. 5. (TCO 13) According to the text, what is contract warehousing?

Question 6. 6. (TCO 14) What areas and/or activities are typically planned to be included into Distribution Resource Planning (DRP)?

Question 7. 7. (TCO 3) How are carriers legally classified?

Question 8. 8. (TCO 6) What is order management?

Question 9. 9. (TCO 5) Compare and contrast the various handling characteristics associated with bulk cargoes.

Question 10. 10. (TCO 6) Examine the various methods of order transmittal and differentiate the relevant characteristics of each one.

Question 11. 11. (TCO 11) Compare and contrast the three primary factors for determining rates.

Set 2

Week 8 : Wk8 – Final Exam

Page 1

Question 1. 1. (TCO 10) What is the primary difference between pilferage and theft?
There is no difference between the two.
Theft refers to stolen merchandise worth more than $500.
Pilferage refers to stolen merchandise worth more than $500.
Pilferage involves a firm’s employees, whereas theft involves efforts from outsiders.

Question 2. 2. (TCO 10) With ___________, cost objects consume activities, and activities consume resources.
financial accounting
activity-based costing
cost accounting
standard costing
financial management

Question 3. 3. (TCO 3) Rate structures deal with three factors. Which of the following is not one of them?
Shipment weight
Shipment distance
Product
Shipment direction
All of the above

Question 4. 4. (TCO 3) Based on cost, speed, and capacity, which of the following modes is most suitable for high-value, low-volume products (may be perishable or otherwise require urgent delivery)?
Pipelines
Air freight
Motor carriers
Railroads
Water

Question 5. 5. (TCO 2) All of the following terms have been used to refer to business logistics except:
business logistics.
industrial distribution.
logistics management.
All of the above are correct.

Question 6. 6. (TCO 2) The movement and storage of materials into a firm refers to:
physical distribution.
materials management.
inbound logistics.
outbound logistics.

Question 7. 7. (TCO 1) Stocks of goods and materials maintained for satisfaction of demand are known as:
supply chain.
inventory.
safety stock.
inventory management.

Question 8. 8. (TCO 1) Reorder point (ROP) is defined as the:
point used for calculating safety stock.
highest inventory level allowed.
lowest inventory level allowed.
fixed level of inventory at which a replenishment order is placed.

Question 9. 9. (TCO 8) International freight forwarders can provide a number of functions. Which is not one of them?
Booking space on carriers
Obtaining consular documents
Preparing an export declaration
Arranging for insurance
All are possible functions.

Question 10. 10. (TCO 8) Taxes that governments place on the importation of certain items are known as:
surcharges.
embargoes.
tariffs.
reciprocities.

Question 11. 11. (TCO 7) Which of the following statements is false?
Supplier selection and evaluation generally involve multiple criteria.
Selecting suppliers is the final step of the supplier selection and evaluation process.
The evolution of business practices and philosophies may require new supplier selection criteria.
Some supplier selection criteria may be contradictory.
All are true.

Question 12. 12. (TCO 7) Procurement and ________ are viewed as synonymous terms.
purchasing
inbound logistics
supply management
materials management

Question 13. 13. (TCO 4) Logisticians and supply chain managers have a particular interest in ____ taxes.
real estate
corporate income
inventory
severance

Page 2

Question 1. 1. (TCO 4) The purpose of ____ zones is to encourage business development in economically depressed portions of a particular city.
commercial
free trade
privatization
empowerment

Question 2. 2. (TCO 5) ____ refers to materials used for the containment, protection, handling, delivery, and presentation of goods.
Packaging
A box
Materials handling
Procurement

Question 3. 3. (TCO 5) The basic unit in unit loading is:
a box.
a crate.
a pallet.
a container.

Question 4. 4. (TCO 6) The order cycle is:
the time it takes for a check to clear.
the time it takes from when a customer places an order until the selling firm receives the order.
also called the replenishment cycle.
also called the vendor cycle.

Question 5. 5. (TCO 6) In general, there are ____ possible ways to transmit orders.
six
five
four
three

Question 6. 6. (TCO 9) Spreadsheets represent what general type of information management system?
A communication system
A transaction processing system
A decision support system
An office automation system

Question 7. 7. (TCO 9) ____ refer to a network of satellites that transmits signals that pinpoint the exact location of an object.
Global positioning systems
Geographic information systems
Electronic data interchanges
Transportation management systems

Question 8. 8. (TCO 12) Which of the following is not a basic type of demand forecasting model?
Exponential smoothing
Cause and effect
Judgmental
Time series

Question 9. 9. (TCO 12) Successful implementations of collaborative planning, forecasting, and replenishment have resulted in 20 to 30% improvements in forecasting accuracy as well as ____ to ____ % reduction in order cycle times.
5; 10
10; 15
20; 30
40; 50

Question 10. 10. (TCO 11) A(n) ____ rate simplifies each of the three primary rate factors—product, weight, and distance.
class
ad valorem
commodity
exception

Question 11. 11. (TCO 11) The shipment size that equates transportation charges for different weights and weight groups is the ____ concept.
optimum cost reliability point
satisfying
weight break
maximum-minimum

Question 12. 12. (TCO 13) Throughput refers to:
the storage capacity of a warehousing facility.
volume through a pipeline.
inventory turnover in a one-month period.
the amount of product entering and leaving a facility in a given time period.

Question 13. 13. (TCO 13) ____ refers to a process where a product is received in a facility, occasionally married with a product going to the same destination, and is then shipped at the earliest time, without going into longer-term storage.
Just-in-time
Cross-docking
Consolidation
Turbologistics

1. (TCO 4) How can advances in technology and communication influence the facility location decision?

Question 2. 2. (TCO 9) Discuss the relationship between automatic identification technologies and point-of-sale systems.

Question 3. 3. (TCO 9) Discuss the drawbacks of EDI.

Question 4. 4. (TCO 12) Forecasting accuracy refers to the relationship between actual and forecasted demand, and accuracy can be affected by various considerations. What is one of the challenges with the analog technique?

Question 5. 5. (TCO 13) Distinguish between warehouses and distribution centers.

Question 6. 6. (TCO 14) Why is there a high risk associated with implementing Distribution Resource Planning (DRP)?

Question 7. 7. (TCO 3) How are carriers legally classified?

Question 8. 8. (TCO 6) What is pick-to-light technology?

Question 9. 9. (TCO 5) Examine the role of labeling in logistics management. Why is it needed, how is it used?

Question 10. 10. (TCO 6) Examine the order picking and assembly operations. Assess how and why they are needed.

Question 11. 11. (TCO 11) Compare and contrast the the trade-offs between price and service possible during rate and service negotiations.

For getting the solution, Please click on the “PURCHASE” link below to get GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

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GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

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MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 and set 3 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 and set 3 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 and set 3 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 and set 3 Answer

Set 1 Questions

Week 8 : Final Exam and Looking Ahead – Final Exam

Page 1

Question 1. 1. (TCOs A & B) What is organizational learning? Why is it important for firms to emphasize organizational learning? (Points : 10)

Question 2. 2. (TCO D) Please define self-managing teams and identify three of the five tasks a true self-managing team is responsible for. (Points : 10)

Question 3. 3. (TCOs E & F) Please identify and give examples of four of the five indirect conflict management strategies. (Points : 10)

Question 4. 4. (TCO G) There are four forms of personal power. Please identify and explain any three of the four. (Points : 10)

Question 5. 5. (TCO E, F) Explain how interpersonal conflict occurs and give two example of substantive conflict, and two examples of emotional interpersonal conflict. (Points : 10)

Page: 1 2

Week 8 : Final Exam and Looking Ahead – Final Exam

Page 2

Question 1. 1. (TCO B) Faxco Incorporated is a business with 500 employees. The CEO of the company has recently learned, based on employee surveys, that the employees are not very happy with the company. In fact, the CEO is starting to believe that this may be the reason why Faxco is experiencing slower sales and a recent budget crisis which threatens to shut down the company in 3 years if it is not fixed.

You are a consultant and the CEO has asked you to visit the company for a week and analyze what might be going wrong. Here are your notes from the week:
(1) Attended Manager 1’s staff meeting. He has 200 employees working under him. Manager 1 talked about the recent budget problems that Faxco is having. He said, “It’s not like we didn’t know this was coming. The company makes a junky product compared to our competitors and half the time, I think the manufacturing department is cutting corners”. Overheard Manager 1 tell an employee, “I don’t blame anyone if they are looking for work elsewhere”.

(2) Overheard three employees talking after Manager 1’s staff meeting. Employees are upset about the idea that the manufacturing department might be cutting corners and creating junky products. The company advertises its products as having the finest quality and durability.

(3) Attended Manager 2’s staff meeting. He runs the Tech Department and has 20 employees. He was very upset with the Marketing Department. He stated, “Someone over in Marketing reported to the CEO that a computer technician from this department was rude to them. I did not even ask who it was that was supposedly being rude. I know we’re all techies in this department together and we don’t behave that way.” He also read an email from a customer who said that someone from the tech department was rude. His response was, “All these customers do is complain. It’s us versus them apparently, so we have to watch out”.
In light of what you learned in MGMT591, about Diversity, Job Satisfaction and Attitudes, please write up a neatly organized analysis for the CEO. (Points : 45)

Question 2. 2. (TCO E) Neff Incorporated is a small business with 100 employees and 4 managers.
Susan and Bob work are co-workers at Neff Incorporated. Ever since they were both assigned to work on Project X, they have been arguing about how to meet the goals of that project.
On Monday they get into a very loud argument about Project X, in the cafeteria during lunch break. Manager 1 is told about the argument and he sends out an email which says: “Greetings everyone. I heard that there may have been a small disagreement in the cafeteria at lunchtime. I just want you all to know that I appreciate the good work you are all doing on Project X. I know that everyone here really gets along even though a little workplace stress can sometimes build up. It is good that we have such a warm, friendly group of employees working here at Neff Incorporated”.
On Tuesday, Susan and Bob get into another argument about Project X at lunchtime. Manager 2 decides that she will deal with the situation this time. She sends them an email stating: “Susan and Bob, you have both worked here at Neff for 5 years and you have worked on many projects together. I know you are both passionate about our mission and goals here at Neff. I also know that you sometimes disagree with each other on how to meet those goals, but we need to look at the big picture. You are both on the same team and both working towards the same goals. Please do not let small disagreements get in the way of this.”
On Wednesday, Susan and Bob get into a third argument about Project X, in the cafeteria again. Manager 3 decides he is going to handle the situation this time. He sends them an email stating, “Susan and Bob, if you cannot get along and maintain professionalism here at Neff Incorporated, I will have no choice but to terminate you both. Consider this your written warning. These loud arguments in public must stop now”.
On Thursday, Susan finds that a small cup of water has spilled on her desk. She thinks it may have been Bob who did it but she is not sure. She quietly tells Manager 4 about the situation. Manager 4 asks Susan and Bob to come into her office. She says, “Ok, I understand that on Monday, Tuesday and Wednesday of this week you two had loud arguments in the cafeteria about Project X. Let’s talk this through in an orderly and respectful fashion. I’m handing you both a sheet of paper. Please list your disagreements about the Project and we will deal with them one by one. Let’s get this resolved today.”
Please list and discuss the conflict management strategies that are at play in this situation. Please state whether you think each of the strategies used by the managers here were appropriate and used in the proper order. Please defend your answer based on your analysis of the situation.
(Points : 45)

Question 3. 3. (TCO F) Eagle Standard Inc., (ESI) a major engineering firm, specializes in designing aircraft parts for government contracts. ESI employs project managers and 42 engineers who are divided into project groups of 6-7 members. The majority of project team leaders have spent time in France and Britain learning new technology.
The Eagle 6 Project Team, consisting of six engineers, is developing new equipment for a jet fighter. The project has been ongoing for 18 months, and all six engineers have been with this project group since its inception, working together on all of these projects. Eagle 6 works well together.
However, the Eagle 6 team has the most technical project, and its engineers have been working too much overtime. The Senior project manager, Bruce Chalnick, interviewed and hired a new engineer to help out: Richard Hue. Richard has good qualifications and seems to be knowledgeable and motivated. The work is challenging and gives him the opportunity to showcase his computer skills and engineering knowledge. Two weeks in, he quickly became a contributing member of the team, showing initiative and the willingness to work overtime and weekends to research possible solutions to potential problems. Richard was particularly adept with the computer system and Bruce is ecstatic about his new hire. Richard is a loner, on and off the job. He is from Country X, a small island with a high power-distance culture; all of the other members of the team were born and raised in the USA.
After three months, Richard’s learning curve had just about peaked, and he began to suggest new ways of doing things. He offered to ‘mentor’ the other engineers but each time he was rebuffed. He then went to Bruce Chalnick and asked for another part of the program to work on. At that point a senior member of Eagle 6, Tim Flossner, met with Bruce to discuss Richard. Tim stated he was speaking for the rest of the team, and said Richard is ‘stuck up’ and arrogant. Tim said he and the other team members felt Richard flaunts his education and knowledge, and none of them like him. In fact, they can’t stand him.
Bruce told Tim that Richard thinks that the rest of the team are slackers who talk about bowling and sports instead of working. Richard thinks he is disliked because he’s from Country X.
Bruce WANTS to keep everyone in the company, and more importantly within the team, so how should Bruce handle this problem? Detail what he should do by applying at least two conflict management methods to enhance group and team performance. Include roles and decision making in your response.
(Points : 45)

Question 4. 4. (TCO D) Identify the five stages of team development, and explain what happens at each stage. Give a specific example from your own experience to highlight one of the stages. (Points : 45)

Set 2 Questions

TCO A, B) Define organizational behavior and list the four emotional intelligence competencies that contribute to understanding ourselves and others within the organizational behavior environment. (Points : 10)

1. (TCOs A & B) What is organizational learning? Why is it important for firms to emphasize organizational learning? (Points : 10)

2.(TCO D) Define the concept of social loafing. Why does social loafing occur? Give an example of social loafing and a suggestion for how to prevent it.(Points:20)

3.(TCO A, B) An organization is a collection of people working together within a given structure and culture to achieve a common purpose. Identify and describe the three components that assist the organization in meeting its goals and list any three of the five components of job satisfaction that contribute to a company meeting these goals.(Points:10)

4.(TCO D) Please define self-managing teams and identify three of the five tasks for which a true self- managing team is responsible.(Points:10)

Part B

1 .(TCO H, I, J) The senior executive team at AllGoodThings.com, after a strategy review session with the Board of Directors, has decided that it’s time to invest some time and capital in improving the corporate culture. The company has rebounded from a near calamity two years ago, and while it was a great scramble, the company survived and is in the strongest position ever. They knew that the culture had been strained by the episode and wanted sincerely to work to bring things back to “normal.” With the assistance of local HR offices, a case was made to the employee population that certain aspects of their current culture might have suffered over the past few years and that it was time to think about change. They announced that they would be undergoing an organizational culture review and that everyone’s opinion was valued. A whopping 79% of the employees participated in the survey that they administered. Senior management had worked with the consultants for a few months before the survey was given and had determined their “Ideal” scores. The survey confirmed their suspicions.
The table below provides you with the percentile scores from the employee population, the ideal scores from management, and the percentage point difference between management’s ideal and the actual results. The typical ideal score for companies is also given as a reference point. The overall cultural grouping for the individual cultural norms is also identified.
AllGoodThings.com Cultural Change Analysis Employee Results Management Ideal Results Gap Typical Ideal Results
11 Achievement Constructive Styles 41.0% 50.0% 9 78.0%
12 Self-Actualization 34.0% 50.0% 16 82.0%
1 Humanistic-Encouraging 34.0% 40.0% 6 85.0%
2 Affiliative 38.0% 40.0% 2 71.0%
3 Approval Passive -Defensive Styles 56.0% 22.0% -34 27.0%
4 Conventional 55.0% 15.0% -40 18.0%
5 Dependent 46.0% 20.0% -26 24.0%
6 Avoidance 71.0% 27.0% -44 27.0%
7 Oppositional Aggressive – Defensive Styles 63.0% 40.0% -23 45.0%
8 Power 41.0% 41.0% 0 30.0%
9 Competitive 51.0% 52.0% 1 42.0%
10 Perfectionistic 63.0% 68.0% 5 25.0%

Referencing the information presented above, please analyze the current culture at AllGoodThings.com.
•Identify and describe the cultural aspects that management cites as important and contrast them to the cultural attributes that employees report as being expected. Also, compare and contrast management’s ideal results with the typical ideal results.
•Identify the most significant gaps between management’s ideal and the actual results.
•What conclusions do you draw taking into account all of the facts presented and your analysis?
•Provide your recommendations for the nexttwo steps in the AllGoodThings.com change process.
•How would you prioritize and sequence the necessary change?

(Points : 40)

2.(TCO C) As a manager you are in a situation where a key employee seems to have lost his excitement about the job. The employee’s familiar positive tone and high energy approach to the job and the workplace seem to be on the wane. You really don’t know what is going on with this person. But, you can try to start to understand this employee by examining various motivation theories. Use elements from each of Maslow’s theory, Herzberg’s Two-Factor theory, and Equity theory and assemble your own motivation theory to help you to start understanding this employee. Be sure to fully explain and define all elements that you use in your new model of motivation. Finally, compose a short case to demonstrate how your motivation model can actually be applied.(Points:40)

3.(TCO G) The Michigan and Ohio State studies represent seminal research on leadership theory. Both studies identified two basic forms of leader behaviors. What were the similarities in the findings from these two studies and what was the significance of the research? (Points:30)

4.(TCO A, B) In order to meet organizational goals and objectives management must comprehend organizational behavior in relationship to the functions of management. List and describe the management process functions and describe how the five personality traits contribute to the management process.(Points:30)

5.(TCO E, F) Identify and discuss the stages of conflict development. Based on news and events from around the world, please give an example of a recent conflict you have read or heard about and show how the conflict moved through the developmental stages we learned about in this course. (Points:10)

Set 3 Questions

1. (TCOs A and B) OB defines stress in terms of both work stressors and life stressors. Please identify four common sources of stress at work.

2. (TCO D) Referring to the team decision-making process, define consensus and unanimity, and explain the difference between the two.

3. (TCO E, F) Based on the value of leadership communication and conflict management skills presented in the course, list a minimum of five major conflict resolution techniques that allow managers to control dysfunctional conflict or increase conflict when too low between parties. Support each technique with a clear and concise example of a manager’s application of each technique during conflict resolution situations in the workplace.

4. (TCO G) Compare and contrast charismatic and transformational leadership styles. Provide two characteristics of each leadership style.

5. (TCO E and F) Identify and describe three upward communication methods that will enhance a manager’s listening skills

1. (TCO B) What is an attitude? Discuss the three basic components of an attitude. (45 points)

2. (TCO E) You lead a team of marketing professionals. At a recent team meeting, Curtis and Andrea got into an argument in front of you and are no longer speaking to each other. Curtis came to you and complained that Andrea always tries to get all of the attention. Andrea came to you with that same complaint about Curtis after the argument. Recently you and your entire team took the Life Styles Inventory (LSI). Andrea is Conventional while Curtis is Competitive. Your style is Humanistic-Encouraging. You plan to hold a meeting with the three of you. What four specific things will you cover and how will you approach each part of the communication differently based on the LSI results? (Points: 45)

3. (TCO F) You are the chair of the newly formed Campus Speaker Committee, a student organization that selects campus speakers. The funding for speakers selected by the committee comes from a wealthy, respected alumnus who wants more controversial speakers to speak to students on campus. The alumnus gave the school a $50,000 endowment earmarked for this purpose. However, his endowment is contingent upon students’ ability to choose speakers without interference from faculty and administration.
The Campus Speaker Committee has selected Representative Baker, a Republican member of Congress who is actively involved in a number of controversial political issues and is an alumnus of your college. The board of trustees for the college is thrilled with the choice of a conservative speaker, but many students on campus have given the announcement a lukewarm reception. Three days before the speaker’s scheduled visit, an article in the student newspaper reveals that Representative Baker was a member of a white supremacist group when he was in college. The article reports that the white supremacist group still exists, and it lists the group’s web site, which is full of racist statements. Many students and faculty are now denouncing the Campus Speaker Committee for inviting such a person. The trustees and the school’s president downplay the representative’s former involvement in the group and continue to support his speaking on campus. The committee now must meet to decide whether or not to revoke Representative Baker’s invitation to speak on campus.
Please respond to each of the following questions:
As the chair, consider potential barriers to effective communication and which communication strategies you would recommend to help committee members: a. to minimize the possibility of groupthink; b. to reach consensus if not unanimity. Why?
Specific conflict management (resolution and stimulation) techniques might help you to negotiate an optimal solution? Discuss. Why?
How will you use the “dimensions of conflict handling intentions” to address any conflict that may arise between committee members? Why?
(Points: 45)

4. (TCO D) Identify the five stages of team development, and explain what happens at each stage. Give a specific example from your own experience to highlight one of the stages. (Points : 45)

For getting the solution, Please click on the “PURCHASE” link below to get MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 and set 3 Answer

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MGMT 591 Leadership and Organizational Behavior week 8 _Final Exam

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MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 and set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 and set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 Answer

Set 1 Questions

Week 8 : Final Exam and Looking Ahead – Final Exam

Page 1

Question 1. 1. (TCOs A & B) What is organizational learning? Why is it important for firms to emphasize organizational learning? (Points : 10)

Question 2. 2. (TCO D) Please define self-managing teams and identify three of the five tasks a true self-managing team is responsible for. (Points : 10)

Question 3. 3. (TCOs E & F) Please identify and give examples of four of the five indirect conflict management strategies. (Points : 10)

Question 4. 4. (TCO G) There are four forms of personal power. Please identify and explain any three of the four. (Points : 10)

Question 5. 5. (TCO E, F) Explain how interpersonal conflict occurs and give two example of substantive conflict, and two examples of emotional interpersonal conflict. (Points : 10)

Page: 1 2

Week 8 : Final Exam and Looking Ahead – Final Exam

Page 2

Question 1. 1. (TCO B) Faxco Incorporated is a business with 500 employees. The CEO of the company has recently learned, based on employee surveys, that the employees are not very happy with the company. In fact, the CEO is starting to believe that this may be the reason why Faxco is experiencing slower sales and a recent budget crisis which threatens to shut down the company in 3 years if it is not fixed.

You are a consultant and the CEO has asked you to visit the company for a week and analyze what might be going wrong. Here are your notes from the week:
(1) Attended Manager 1’s staff meeting. He has 200 employees working under him. Manager 1 talked about the recent budget problems that Faxco is having. He said, “It’s not like we didn’t know this was coming. The company makes a junky product compared to our competitors and half the time, I think the manufacturing department is cutting corners”. Overheard Manager 1 tell an employee, “I don’t blame anyone if they are looking for work elsewhere”.

(2) Overheard three employees talking after Manager 1’s staff meeting. Employees are upset about the idea that the manufacturing department might be cutting corners and creating junky products. The company advertises its products as having the finest quality and durability.

(3) Attended Manager 2’s staff meeting. He runs the Tech Department and has 20 employees. He was very upset with the Marketing Department. He stated, “Someone over in Marketing reported to the CEO that a computer technician from this department was rude to them. I did not even ask who it was that was supposedly being rude. I know we’re all techies in this department together and we don’t behave that way.” He also read an email from a customer who said that someone from the tech department was rude. His response was, “All these customers do is complain. It’s us versus them apparently, so we have to watch out”.
In light of what you learned in MGMT591, about Diversity, Job Satisfaction and Attitudes, please write up a neatly organized analysis for the CEO. (Points : 45)

Question 2. 2. (TCO E) Neff Incorporated is a small business with 100 employees and 4 managers.
Susan and Bob work are co-workers at Neff Incorporated. Ever since they were both assigned to work on Project X, they have been arguing about how to meet the goals of that project.
On Monday they get into a very loud argument about Project X, in the cafeteria during lunch break. Manager 1 is told about the argument and he sends out an email which says: “Greetings everyone. I heard that there may have been a small disagreement in the cafeteria at lunchtime. I just want you all to know that I appreciate the good work you are all doing on Project X. I know that everyone here really gets along even though a little workplace stress can sometimes build up. It is good that we have such a warm, friendly group of employees working here at Neff Incorporated”.
On Tuesday, Susan and Bob get into another argument about Project X at lunchtime. Manager 2 decides that she will deal with the situation this time. She sends them an email stating: “Susan and Bob, you have both worked here at Neff for 5 years and you have worked on many projects together. I know you are both passionate about our mission and goals here at Neff. I also know that you sometimes disagree with each other on how to meet those goals, but we need to look at the big picture. You are both on the same team and both working towards the same goals. Please do not let small disagreements get in the way of this.”
On Wednesday, Susan and Bob get into a third argument about Project X, in the cafeteria again. Manager 3 decides he is going to handle the situation this time. He sends them an email stating, “Susan and Bob, if you cannot get along and maintain professionalism here at Neff Incorporated, I will have no choice but to terminate you both. Consider this your written warning. These loud arguments in public must stop now”.
On Thursday, Susan finds that a small cup of water has spilled on her desk. She thinks it may have been Bob who did it but she is not sure. She quietly tells Manager 4 about the situation. Manager 4 asks Susan and Bob to come into her office. She says, “Ok, I understand that on Monday, Tuesday and Wednesday of this week you two had loud arguments in the cafeteria about Project X. Let’s talk this through in an orderly and respectful fashion. I’m handing you both a sheet of paper. Please list your disagreements about the Project and we will deal with them one by one. Let’s get this resolved today.”
Please list and discuss the conflict management strategies that are at play in this situation. Please state whether you think each of the strategies used by the managers here were appropriate and used in the proper order. Please defend your answer based on your analysis of the situation.
(Points : 45)

Question 3. 3. (TCO F) Eagle Standard Inc., (ESI) a major engineering firm, specializes in designing aircraft parts for government contracts. ESI employs project managers and 42 engineers who are divided into project groups of 6-7 members. The majority of project team leaders have spent time in France and Britain learning new technology.
The Eagle 6 Project Team, consisting of six engineers, is developing new equipment for a jet fighter. The project has been ongoing for 18 months, and all six engineers have been with this project group since its inception, working together on all of these projects. Eagle 6 works well together.
However, the Eagle 6 team has the most technical project, and its engineers have been working too much overtime. The Senior project manager, Bruce Chalnick, interviewed and hired a new engineer to help out: Richard Hue. Richard has good qualifications and seems to be knowledgeable and motivated. The work is challenging and gives him the opportunity to showcase his computer skills and engineering knowledge. Two weeks in, he quickly became a contributing member of the team, showing initiative and the willingness to work overtime and weekends to research possible solutions to potential problems. Richard was particularly adept with the computer system and Bruce is ecstatic about his new hire. Richard is a loner, on and off the job. He is from Country X, a small island with a high power-distance culture; all of the other members of the team were born and raised in the USA.
After three months, Richard’s learning curve had just about peaked, and he began to suggest new ways of doing things. He offered to ‘mentor’ the other engineers but each time he was rebuffed. He then went to Bruce Chalnick and asked for another part of the program to work on. At that point a senior member of Eagle 6, Tim Flossner, met with Bruce to discuss Richard. Tim stated he was speaking for the rest of the team, and said Richard is ‘stuck up’ and arrogant. Tim said he and the other team members felt Richard flaunts his education and knowledge, and none of them like him. In fact, they can’t stand him.
Bruce told Tim that Richard thinks that the rest of the team are slackers who talk about bowling and sports instead of working. Richard thinks he is disliked because he’s from Country X.
Bruce WANTS to keep everyone in the company, and more importantly within the team, so how should Bruce handle this problem? Detail what he should do by applying at least two conflict management methods to enhance group and team performance. Include roles and decision making in your response.
(Points : 45)

Question 4. 4. (TCO D) Identify the five stages of team development, and explain what happens at each stage. Give a specific example from your own experience to highlight one of the stages. (Points : 45)

Set 2 Questions

TCO A, B) Define organizational behavior and list the four emotional intelligence competencies that contribute to understanding ourselves and others within the organizational behavior environment. (Points : 10)

1. (TCOs A & B) What is organizational learning? Why is it important for firms to emphasize organizational learning? (Points : 10)

2.(TCO D) Define the concept of social loafing. Why does social loafing occur? Give an example of social loafing and a suggestion for how to prevent it.(Points:20)

3.(TCO A, B) An organization is a collection of people working together within a given structure and culture to achieve a common purpose. Identify and describe the three components that assist the organization in meeting its goals and list any three of the five components of job satisfaction that contribute to a company meeting these goals.(Points:10)

4.(TCO D) Please define self-managing teams and identify three of the five tasks for which a true self- managing team is responsible.(Points:10)

Part B

1 .(TCO H, I, J) The senior executive team at AllGoodThings.com, after a strategy review session with the Board of Directors, has decided that it’s time to invest some time and capital in improving the corporate culture. The company has rebounded from a near calamity two years ago, and while it was a great scramble, the company survived and is in the strongest position ever. They knew that the culture had been strained by the episode and wanted sincerely to work to bring things back to “normal.” With the assistance of local HR offices, a case was made to the employee population that certain aspects of their current culture might have suffered over the past few years and that it was time to think about change. They announced that they would be undergoing an organizational culture review and that everyone’s opinion was valued. A whopping 79% of the employees participated in the survey that they administered. Senior management had worked with the consultants for a few months before the survey was given and had determined their “Ideal” scores. The survey confirmed their suspicions.
The table below provides you with the percentile scores from the employee population, the ideal scores from management, and the percentage point difference between management’s ideal and the actual results. The typical ideal score for companies is also given as a reference point. The overall cultural grouping for the individual cultural norms is also identified.
AllGoodThings.com Cultural Change Analysis Employee Results Management Ideal Results Gap Typical Ideal Results
11 Achievement Constructive Styles 41.0% 50.0% 9 78.0%
12 Self-Actualization 34.0% 50.0% 16 82.0%
1 Humanistic-Encouraging 34.0% 40.0% 6 85.0%
2 Affiliative 38.0% 40.0% 2 71.0%
3 Approval Passive -Defensive Styles 56.0% 22.0% -34 27.0%
4 Conventional 55.0% 15.0% -40 18.0%
5 Dependent 46.0% 20.0% -26 24.0%
6 Avoidance 71.0% 27.0% -44 27.0%
7 Oppositional Aggressive – Defensive Styles 63.0% 40.0% -23 45.0%
8 Power 41.0% 41.0% 0 30.0%
9 Competitive 51.0% 52.0% 1 42.0%
10 Perfectionistic 63.0% 68.0% 5 25.0%

Referencing the information presented above, please analyze the current culture at AllGoodThings.com.
•Identify and describe the cultural aspects that management cites as important and contrast them to the cultural attributes that employees report as being expected. Also, compare and contrast management’s ideal results with the typical ideal results.
•Identify the most significant gaps between management’s ideal and the actual results.
•What conclusions do you draw taking into account all of the facts presented and your analysis?
•Provide your recommendations for the nexttwo steps in the AllGoodThings.com change process.
•How would you prioritize and sequence the necessary change?

(Points : 40)

2.(TCO C) As a manager you are in a situation where a key employee seems to have lost his excitement about the job. The employee’s familiar positive tone and high energy approach to the job and the workplace seem to be on the wane. You really don’t know what is going on with this person. But, you can try to start to understand this employee by examining various motivation theories. Use elements from each of Maslow’s theory, Herzberg’s Two-Factor theory, and Equity theory and assemble your own motivation theory to help you to start understanding this employee. Be sure to fully explain and define all elements that you use in your new model of motivation. Finally, compose a short case to demonstrate how your motivation model can actually be applied.(Points:40)

3.(TCO G) The Michigan and Ohio State studies represent seminal research on leadership theory. Both studies identified two basic forms of leader behaviors. What were the similarities in the findings from these two studies and what was the significance of the research? (Points:30)

4.(TCO A, B) In order to meet organizational goals and objectives management must comprehend organizational behavior in relationship to the functions of management. List and describe the management process functions and describe how the five personality traits contribute to the management process.(Points:30)

5.(TCO E, F) Identify and discuss the stages of conflict development. Based on news and events from around the world, please give an example of a recent conflict you have read or heard about and show how the conflict moved through the developmental stages we learned about in this course. (Points:10)

For getting the solution, Please click on the “PURCHASE” link below to get MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 Answer

For instant digital download of the above solution or tutorial, please click on the below link and make an instant purchase. You will be guided to the PAYPAL Standard payment page wherein you can pay and you will receive an email immediately with a download link. Please note that in case of technical glitch, the solutions will be emailed to you within 24 hours.

In case you find any problem in getting the download link or downloading the tutorial, please send us an email on mail@genietutorial.com

MGMT 591 Leadership and Organizational Behavior week 8 Final EXam

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MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 and set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 and set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 Answer

Set 1 Questions

Week 8 : Final Exam and Looking Ahead – Final Exam

Page 1

Question 1. 1. (TCOs A & B) What is organizational learning? Why is it important for firms to emphasize organizational learning? (Points : 10)

Question 2. 2. (TCO D) Please define self-managing teams and identify three of the five tasks a true self-managing team is responsible for. (Points : 10)

Question 3. 3. (TCOs E & F) Please identify and give examples of four of the five indirect conflict management strategies. (Points : 10)

Question 4. 4. (TCO G) There are four forms of personal power. Please identify and explain any three of the four. (Points : 10)

Question 5. 5. (TCO E, F) Explain how interpersonal conflict occurs and give two example of substantive conflict, and two examples of emotional interpersonal conflict. (Points : 10)

Page: 1 2

Week 8 : Final Exam and Looking Ahead – Final Exam

Page 2

Question 1. 1. (TCO B) Faxco Incorporated is a business with 500 employees. The CEO of the company has recently learned, based on employee surveys, that the employees are not very happy with the company. In fact, the CEO is starting to believe that this may be the reason why Faxco is experiencing slower sales and a recent budget crisis which threatens to shut down the company in 3 years if it is not fixed.

You are a consultant and the CEO has asked you to visit the company for a week and analyze what might be going wrong. Here are your notes from the week:
(1) Attended Manager 1’s staff meeting. He has 200 employees working under him. Manager 1 talked about the recent budget problems that Faxco is having. He said, “It’s not like we didn’t know this was coming. The company makes a junky product compared to our competitors and half the time, I think the manufacturing department is cutting corners”. Overheard Manager 1 tell an employee, “I don’t blame anyone if they are looking for work elsewhere”.

(2) Overheard three employees talking after Manager 1’s staff meeting. Employees are upset about the idea that the manufacturing department might be cutting corners and creating junky products. The company advertises its products as having the finest quality and durability.

(3) Attended Manager 2’s staff meeting. He runs the Tech Department and has 20 employees. He was very upset with the Marketing Department. He stated, “Someone over in Marketing reported to the CEO that a computer technician from this department was rude to them. I did not even ask who it was that was supposedly being rude. I know we’re all techies in this department together and we don’t behave that way.” He also read an email from a customer who said that someone from the tech department was rude. His response was, “All these customers do is complain. It’s us versus them apparently, so we have to watch out”.
In light of what you learned in MGMT591, about Diversity, Job Satisfaction and Attitudes, please write up a neatly organized analysis for the CEO. (Points : 45)

Question 2. 2. (TCO E) Neff Incorporated is a small business with 100 employees and 4 managers.
Susan and Bob work are co-workers at Neff Incorporated. Ever since they were both assigned to work on Project X, they have been arguing about how to meet the goals of that project.
On Monday they get into a very loud argument about Project X, in the cafeteria during lunch break. Manager 1 is told about the argument and he sends out an email which says: “Greetings everyone. I heard that there may have been a small disagreement in the cafeteria at lunchtime. I just want you all to know that I appreciate the good work you are all doing on Project X. I know that everyone here really gets along even though a little workplace stress can sometimes build up. It is good that we have such a warm, friendly group of employees working here at Neff Incorporated”.
On Tuesday, Susan and Bob get into another argument about Project X at lunchtime. Manager 2 decides that she will deal with the situation this time. She sends them an email stating: “Susan and Bob, you have both worked here at Neff for 5 years and you have worked on many projects together. I know you are both passionate about our mission and goals here at Neff. I also know that you sometimes disagree with each other on how to meet those goals, but we need to look at the big picture. You are both on the same team and both working towards the same goals. Please do not let small disagreements get in the way of this.”
On Wednesday, Susan and Bob get into a third argument about Project X, in the cafeteria again. Manager 3 decides he is going to handle the situation this time. He sends them an email stating, “Susan and Bob, if you cannot get along and maintain professionalism here at Neff Incorporated, I will have no choice but to terminate you both. Consider this your written warning. These loud arguments in public must stop now”.
On Thursday, Susan finds that a small cup of water has spilled on her desk. She thinks it may have been Bob who did it but she is not sure. She quietly tells Manager 4 about the situation. Manager 4 asks Susan and Bob to come into her office. She says, “Ok, I understand that on Monday, Tuesday and Wednesday of this week you two had loud arguments in the cafeteria about Project X. Let’s talk this through in an orderly and respectful fashion. I’m handing you both a sheet of paper. Please list your disagreements about the Project and we will deal with them one by one. Let’s get this resolved today.”
Please list and discuss the conflict management strategies that are at play in this situation. Please state whether you think each of the strategies used by the managers here were appropriate and used in the proper order. Please defend your answer based on your analysis of the situation.
(Points : 45)

Question 3. 3. (TCO F) Eagle Standard Inc., (ESI) a major engineering firm, specializes in designing aircraft parts for government contracts. ESI employs project managers and 42 engineers who are divided into project groups of 6-7 members. The majority of project team leaders have spent time in France and Britain learning new technology.
The Eagle 6 Project Team, consisting of six engineers, is developing new equipment for a jet fighter. The project has been ongoing for 18 months, and all six engineers have been with this project group since its inception, working together on all of these projects. Eagle 6 works well together.
However, the Eagle 6 team has the most technical project, and its engineers have been working too much overtime. The Senior project manager, Bruce Chalnick, interviewed and hired a new engineer to help out: Richard Hue. Richard has good qualifications and seems to be knowledgeable and motivated. The work is challenging and gives him the opportunity to showcase his computer skills and engineering knowledge. Two weeks in, he quickly became a contributing member of the team, showing initiative and the willingness to work overtime and weekends to research possible solutions to potential problems. Richard was particularly adept with the computer system and Bruce is ecstatic about his new hire. Richard is a loner, on and off the job. He is from Country X, a small island with a high power-distance culture; all of the other members of the team were born and raised in the USA.
After three months, Richard’s learning curve had just about peaked, and he began to suggest new ways of doing things. He offered to ‘mentor’ the other engineers but each time he was rebuffed. He then went to Bruce Chalnick and asked for another part of the program to work on. At that point a senior member of Eagle 6, Tim Flossner, met with Bruce to discuss Richard. Tim stated he was speaking for the rest of the team, and said Richard is ‘stuck up’ and arrogant. Tim said he and the other team members felt Richard flaunts his education and knowledge, and none of them like him. In fact, they can’t stand him.
Bruce told Tim that Richard thinks that the rest of the team are slackers who talk about bowling and sports instead of working. Richard thinks he is disliked because he’s from Country X.
Bruce WANTS to keep everyone in the company, and more importantly within the team, so how should Bruce handle this problem? Detail what he should do by applying at least two conflict management methods to enhance group and team performance. Include roles and decision making in your response.
(Points : 45)

Question 4. 4. (TCO D) Identify the five stages of team development, and explain what happens at each stage. Give a specific example from your own experience to highlight one of the stages. (Points : 45)

Set 2 Questions

TCO A, B) Define organizational behavior and list the four emotional intelligence competencies that contribute to understanding ourselves and others within the organizational behavior environment. (Points : 10)

1. (TCOs A & B) What is organizational learning? Why is it important for firms to emphasize organizational learning? (Points : 10)

2.(TCO D) Define the concept of social loafing. Why does social loafing occur? Give an example of social loafing and a suggestion for how to prevent it.(Points:20)

3.(TCO A, B) An organization is a collection of people working together within a given structure and culture to achieve a common purpose. Identify and describe the three components that assist the organization in meeting its goals and list any three of the five components of job satisfaction that contribute to a company meeting these goals.(Points:10)

4.(TCO D) Please define self-managing teams and identify three of the five tasks for which a true self- managing team is responsible.(Points:10)

Part B

1 .(TCO H, I, J) The senior executive team at AllGoodThings.com, after a strategy review session with the Board of Directors, has decided that it’s time to invest some time and capital in improving the corporate culture. The company has rebounded from a near calamity two years ago, and while it was a great scramble, the company survived and is in the strongest position ever. They knew that the culture had been strained by the episode and wanted sincerely to work to bring things back to “normal.” With the assistance of local HR offices, a case was made to the employee population that certain aspects of their current culture might have suffered over the past few years and that it was time to think about change. They announced that they would be undergoing an organizational culture review and that everyone’s opinion was valued. A whopping 79% of the employees participated in the survey that they administered. Senior management had worked with the consultants for a few months before the survey was given and had determined their “Ideal” scores. The survey confirmed their suspicions.
The table below provides you with the percentile scores from the employee population, the ideal scores from management, and the percentage point difference between management’s ideal and the actual results. The typical ideal score for companies is also given as a reference point. The overall cultural grouping for the individual cultural norms is also identified.
AllGoodThings.com Cultural Change Analysis Employee Results Management Ideal Results Gap Typical Ideal Results
11 Achievement Constructive Styles 41.0% 50.0% 9 78.0%
12 Self-Actualization 34.0% 50.0% 16 82.0%
1 Humanistic-Encouraging 34.0% 40.0% 6 85.0%
2 Affiliative 38.0% 40.0% 2 71.0%
3 Approval Passive -Defensive Styles 56.0% 22.0% -34 27.0%
4 Conventional 55.0% 15.0% -40 18.0%
5 Dependent 46.0% 20.0% -26 24.0%
6 Avoidance 71.0% 27.0% -44 27.0%
7 Oppositional Aggressive – Defensive Styles 63.0% 40.0% -23 45.0%
8 Power 41.0% 41.0% 0 30.0%
9 Competitive 51.0% 52.0% 1 42.0%
10 Perfectionistic 63.0% 68.0% 5 25.0%

Referencing the information presented above, please analyze the current culture at AllGoodThings.com.
•Identify and describe the cultural aspects that management cites as important and contrast them to the cultural attributes that employees report as being expected. Also, compare and contrast management’s ideal results with the typical ideal results.
•Identify the most significant gaps between management’s ideal and the actual results.
•What conclusions do you draw taking into account all of the facts presented and your analysis?
•Provide your recommendations for the nexttwo steps in the AllGoodThings.com change process.
•How would you prioritize and sequence the necessary change?

(Points : 40)

2.(TCO C) As a manager you are in a situation where a key employee seems to have lost his excitement about the job. The employee’s familiar positive tone and high energy approach to the job and the workplace seem to be on the wane. You really don’t know what is going on with this person. But, you can try to start to understand this employee by examining various motivation theories. Use elements from each of Maslow’s theory, Herzberg’s Two-Factor theory, and Equity theory and assemble your own motivation theory to help you to start understanding this employee. Be sure to fully explain and define all elements that you use in your new model of motivation. Finally, compose a short case to demonstrate how your motivation model can actually be applied.(Points:40)

3.(TCO G) The Michigan and Ohio State studies represent seminal research on leadership theory. Both studies identified two basic forms of leader behaviors. What were the similarities in the findings from these two studies and what was the significance of the research? (Points:30)

4.(TCO A, B) In order to meet organizational goals and objectives management must comprehend organizational behavior in relationship to the functions of management. List and describe the management process functions and describe how the five personality traits contribute to the management process.(Points:30)

5.(TCO E, F) Identify and discuss the stages of conflict development. Based on news and events from around the world, please give an example of a recent conflict you have read or heard about and show how the conflict moved through the developmental stages we learned about in this course. (Points:10)

For getting the solution, Please click on the “PURCHASE” link below to get MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 Answer

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MGMT 591 Leadership and Organizational Behavior week 8 Final EXam

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MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 and set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 and set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 Answer

MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 set 2 Answer

Set 1 Questions

Week 8 : Final Exam and Looking Ahead – Final Exam

Page 1

Question 1. 1. (TCOs A & B) What is organizational learning? Why is it important for firms to emphasize organizational learning? (Points : 10)

Question 2. 2. (TCO D) Please define self-managing teams and identify three of the five tasks a true self-managing team is responsible for. (Points : 10)

Question 3. 3. (TCOs E & F) Please identify and give examples of four of the five indirect conflict management strategies. (Points : 10)

Question 4. 4. (TCO G) There are four forms of personal power. Please identify and explain any three of the four. (Points : 10)

Question 5. 5. (TCO E, F) Explain how interpersonal conflict occurs and give two example of substantive conflict, and two examples of emotional interpersonal conflict. (Points : 10)

Page: 1 2

Week 8 : Final Exam and Looking Ahead – Final Exam

Page 2

Question 1. 1. (TCO B) Faxco Incorporated is a business with 500 employees. The CEO of the company has recently learned, based on employee surveys, that the employees are not very happy with the company. In fact, the CEO is starting to believe that this may be the reason why Faxco is experiencing slower sales and a recent budget crisis which threatens to shut down the company in 3 years if it is not fixed.

You are a consultant and the CEO has asked you to visit the company for a week and analyze what might be going wrong. Here are your notes from the week:
(1) Attended Manager 1’s staff meeting. He has 200 employees working under him. Manager 1 talked about the recent budget problems that Faxco is having. He said, “It’s not like we didn’t know this was coming. The company makes a junky product compared to our competitors and half the time, I think the manufacturing department is cutting corners”. Overheard Manager 1 tell an employee, “I don’t blame anyone if they are looking for work elsewhere”.

(2) Overheard three employees talking after Manager 1’s staff meeting. Employees are upset about the idea that the manufacturing department might be cutting corners and creating junky products. The company advertises its products as having the finest quality and durability.

(3) Attended Manager 2’s staff meeting. He runs the Tech Department and has 20 employees. He was very upset with the Marketing Department. He stated, “Someone over in Marketing reported to the CEO that a computer technician from this department was rude to them. I did not even ask who it was that was supposedly being rude. I know we’re all techies in this department together and we don’t behave that way.” He also read an email from a customer who said that someone from the tech department was rude. His response was, “All these customers do is complain. It’s us versus them apparently, so we have to watch out”.
In light of what you learned in MGMT591, about Diversity, Job Satisfaction and Attitudes, please write up a neatly organized analysis for the CEO. (Points : 45)

Question 2. 2. (TCO E) Neff Incorporated is a small business with 100 employees and 4 managers.
Susan and Bob work are co-workers at Neff Incorporated. Ever since they were both assigned to work on Project X, they have been arguing about how to meet the goals of that project.
On Monday they get into a very loud argument about Project X, in the cafeteria during lunch break. Manager 1 is told about the argument and he sends out an email which says: “Greetings everyone. I heard that there may have been a small disagreement in the cafeteria at lunchtime. I just want you all to know that I appreciate the good work you are all doing on Project X. I know that everyone here really gets along even though a little workplace stress can sometimes build up. It is good that we have such a warm, friendly group of employees working here at Neff Incorporated”.
On Tuesday, Susan and Bob get into another argument about Project X at lunchtime. Manager 2 decides that she will deal with the situation this time. She sends them an email stating: “Susan and Bob, you have both worked here at Neff for 5 years and you have worked on many projects together. I know you are both passionate about our mission and goals here at Neff. I also know that you sometimes disagree with each other on how to meet those goals, but we need to look at the big picture. You are both on the same team and both working towards the same goals. Please do not let small disagreements get in the way of this.”
On Wednesday, Susan and Bob get into a third argument about Project X, in the cafeteria again. Manager 3 decides he is going to handle the situation this time. He sends them an email stating, “Susan and Bob, if you cannot get along and maintain professionalism here at Neff Incorporated, I will have no choice but to terminate you both. Consider this your written warning. These loud arguments in public must stop now”.
On Thursday, Susan finds that a small cup of water has spilled on her desk. She thinks it may have been Bob who did it but she is not sure. She quietly tells Manager 4 about the situation. Manager 4 asks Susan and Bob to come into her office. She says, “Ok, I understand that on Monday, Tuesday and Wednesday of this week you two had loud arguments in the cafeteria about Project X. Let’s talk this through in an orderly and respectful fashion. I’m handing you both a sheet of paper. Please list your disagreements about the Project and we will deal with them one by one. Let’s get this resolved today.”
Please list and discuss the conflict management strategies that are at play in this situation. Please state whether you think each of the strategies used by the managers here were appropriate and used in the proper order. Please defend your answer based on your analysis of the situation.
(Points : 45)

Question 3. 3. (TCO F) Eagle Standard Inc., (ESI) a major engineering firm, specializes in designing aircraft parts for government contracts. ESI employs project managers and 42 engineers who are divided into project groups of 6-7 members. The majority of project team leaders have spent time in France and Britain learning new technology.
The Eagle 6 Project Team, consisting of six engineers, is developing new equipment for a jet fighter. The project has been ongoing for 18 months, and all six engineers have been with this project group since its inception, working together on all of these projects. Eagle 6 works well together.
However, the Eagle 6 team has the most technical project, and its engineers have been working too much overtime. The Senior project manager, Bruce Chalnick, interviewed and hired a new engineer to help out: Richard Hue. Richard has good qualifications and seems to be knowledgeable and motivated. The work is challenging and gives him the opportunity to showcase his computer skills and engineering knowledge. Two weeks in, he quickly became a contributing member of the team, showing initiative and the willingness to work overtime and weekends to research possible solutions to potential problems. Richard was particularly adept with the computer system and Bruce is ecstatic about his new hire. Richard is a loner, on and off the job. He is from Country X, a small island with a high power-distance culture; all of the other members of the team were born and raised in the USA.
After three months, Richard’s learning curve had just about peaked, and he began to suggest new ways of doing things. He offered to ‘mentor’ the other engineers but each time he was rebuffed. He then went to Bruce Chalnick and asked for another part of the program to work on. At that point a senior member of Eagle 6, Tim Flossner, met with Bruce to discuss Richard. Tim stated he was speaking for the rest of the team, and said Richard is ‘stuck up’ and arrogant. Tim said he and the other team members felt Richard flaunts his education and knowledge, and none of them like him. In fact, they can’t stand him.
Bruce told Tim that Richard thinks that the rest of the team are slackers who talk about bowling and sports instead of working. Richard thinks he is disliked because he’s from Country X.
Bruce WANTS to keep everyone in the company, and more importantly within the team, so how should Bruce handle this problem? Detail what he should do by applying at least two conflict management methods to enhance group and team performance. Include roles and decision making in your response.
(Points : 45)

Question 4. 4. (TCO D) Identify the five stages of team development, and explain what happens at each stage. Give a specific example from your own experience to highlight one of the stages. (Points : 45)

Set 2 Questions

TCO A, B) Define organizational behavior and list the four emotional intelligence competencies that contribute to understanding ourselves and others within the organizational behavior environment. (Points : 10)

1. (TCOs A & B) What is organizational learning? Why is it important for firms to emphasize organizational learning? (Points : 10)

2.(TCO D) Define the concept of social loafing. Why does social loafing occur? Give an example of social loafing and a suggestion for how to prevent it.(Points:20)

3.(TCO A, B) An organization is a collection of people working together within a given structure and culture to achieve a common purpose. Identify and describe the three components that assist the organization in meeting its goals and list any three of the five components of job satisfaction that contribute to a company meeting these goals.(Points:10)

4.(TCO D) Please define self-managing teams and identify three of the five tasks for which a true self- managing team is responsible.(Points:10)

Part B

1 .(TCO H, I, J) The senior executive team at AllGoodThings.com, after a strategy review session with the Board of Directors, has decided that it’s time to invest some time and capital in improving the corporate culture. The company has rebounded from a near calamity two years ago, and while it was a great scramble, the company survived and is in the strongest position ever. They knew that the culture had been strained by the episode and wanted sincerely to work to bring things back to “normal.” With the assistance of local HR offices, a case was made to the employee population that certain aspects of their current culture might have suffered over the past few years and that it was time to think about change. They announced that they would be undergoing an organizational culture review and that everyone’s opinion was valued. A whopping 79% of the employees participated in the survey that they administered. Senior management had worked with the consultants for a few months before the survey was given and had determined their “Ideal” scores. The survey confirmed their suspicions.
The table below provides you with the percentile scores from the employee population, the ideal scores from management, and the percentage point difference between management’s ideal and the actual results. The typical ideal score for companies is also given as a reference point. The overall cultural grouping for the individual cultural norms is also identified.
AllGoodThings.com Cultural Change Analysis Employee Results Management Ideal Results Gap Typical Ideal Results
11 Achievement Constructive Styles 41.0% 50.0% 9 78.0%
12 Self-Actualization 34.0% 50.0% 16 82.0%
1 Humanistic-Encouraging 34.0% 40.0% 6 85.0%
2 Affiliative 38.0% 40.0% 2 71.0%
3 Approval Passive -Defensive Styles 56.0% 22.0% -34 27.0%
4 Conventional 55.0% 15.0% -40 18.0%
5 Dependent 46.0% 20.0% -26 24.0%
6 Avoidance 71.0% 27.0% -44 27.0%
7 Oppositional Aggressive – Defensive Styles 63.0% 40.0% -23 45.0%
8 Power 41.0% 41.0% 0 30.0%
9 Competitive 51.0% 52.0% 1 42.0%
10 Perfectionistic 63.0% 68.0% 5 25.0%

Referencing the information presented above, please analyze the current culture at AllGoodThings.com.
•Identify and describe the cultural aspects that management cites as important and contrast them to the cultural attributes that employees report as being expected. Also, compare and contrast management’s ideal results with the typical ideal results.
•Identify the most significant gaps between management’s ideal and the actual results.
•What conclusions do you draw taking into account all of the facts presented and your analysis?
•Provide your recommendations for the nexttwo steps in the AllGoodThings.com change process.
•How would you prioritize and sequence the necessary change?

(Points : 40)

2.(TCO C) As a manager you are in a situation where a key employee seems to have lost his excitement about the job. The employee’s familiar positive tone and high energy approach to the job and the workplace seem to be on the wane. You really don’t know what is going on with this person. But, you can try to start to understand this employee by examining various motivation theories. Use elements from each of Maslow’s theory, Herzberg’s Two-Factor theory, and Equity theory and assemble your own motivation theory to help you to start understanding this employee. Be sure to fully explain and define all elements that you use in your new model of motivation. Finally, compose a short case to demonstrate how your motivation model can actually be applied.(Points:40)

3.(TCO G) The Michigan and Ohio State studies represent seminal research on leadership theory. Both studies identified two basic forms of leader behaviors. What were the similarities in the findings from these two studies and what was the significance of the research? (Points:30)

4.(TCO A, B) In order to meet organizational goals and objectives management must comprehend organizational behavior in relationship to the functions of management. List and describe the management process functions and describe how the five personality traits contribute to the management process.(Points:30)

5.(TCO E, F) Identify and discuss the stages of conflict development. Based on news and events from around the world, please give an example of a recent conflict you have read or heard about and show how the conflict moved through the developmental stages we learned about in this course. (Points:10)

For getting the solution, Please click on the “PURCHASE” link below to get MGMT 591 Leadership and Organizational Behavior week 8 Final Exam_set 1 Answer

For instant digital download of the above solution or tutorial, please click on the below link and make an instant purchase. You will be guided to the PAYPAL Standard payment page wherein you can pay and you will receive an email immediately with a download link. Please note that in case of technical glitch, the solutions will be emailed to you within 24 hours.

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MGMT 591 Leadership and Organizational Behavior week 8 Final EXam

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Devry Busn 278 Budgeting and Forecasting Final Exam_Answer

Devry Busn 278 Budgeting and Forecasting Final Exam_Answer

Devry Busn 278 Budgeting and Forecasting Final Exam_Answer

GM5Devry Busn 278 Budgeting and Forecasting Final Exam_Answer

Devry Busn 278 Budgeting and Forecasting Final Exam_Answer

Devry Busn 278 Budgeting and Forecasting Final Exam_Answer

Devry Busn 278 Budgeting and Forecasting Final Exam.

1. (TCO 1) Which one of the following is not a benefit of budgeting? (Points : 5)

It facilitates the coordination of activities.
It provides definite objectives for evaluating performance.
It provides assurance that the company will achieve its objectives.
It provides early warning signs of potential threats.

2. (TCO 2) Which of the following is not a qualitative forecasting method? (Points : 5)

Executive opinions
Sales force polling
Delphi method
Classical decomposition

3. (TCO 3) Which of the following statements regarding the t-statistic is true? (Points : 5)

The t-statistic cannot be negative.
The t-statistic measures how many standard errors the coefficient is away from the independent variable.
The higher the t-value, the more confidence we have in the coefficient.
Low t-values indicate high reliability.

4. (TCO 4) Which of the following statements regarding the risk associated with R&D activities is incorrect? (Points : 5)

The amount of time between the R&D activity and the cash flows from the project does not affect risk.
Greater risk is associated with creating new products than improving existing products.
Risk increases as the time between the R&D activity and the cash flows from the project increases.
Assessing risk is a vital part of research and development.

5. (TCO 5) Program budgeting does not include: (Points : 5)

Controlling
Programming
Budgeting
Planning

6. (TCO 6) The payback period technique ___________ (Points : 5)

should be used as a final screening tool.
can be the only basis for the capital budgeting decision.
is relatively easy to compute and understand.
considers the expected profitability of a project.

7. (TCO 6) The profitability index is computed by dividing the ___________ (Points : 5)

total cash flows by the initial investment.
present value of cash inflows by the present value of each outflow.
initial investment by the total cash flows.
initial investment by the present value of cash flows.

8. (TCO 6) A company projects annual cash inflows of $85,000 each year for the next five years if it invests $300,000 in new equipment. The equipment has a five-year life and an estimated salvage value of

$75,000. What is the accounting rate of return on this investment? (Points : 5)

28.3%
13.3%
15%
43.3%

9. (TCO 6) If an asset costs $210,000 and is expected to have a $30,000 salvage value at the end of its ten-year life, and generates annual net cash inflows of $30,000 each year, the payback period is _____.

(Points : 5)

5 years
6 years
7 years
8 years

10. (TCO 6) Hyde Inc. is comparing several alternative capital budgeting projects as shown below:

Projects A B C

Initial Investment $110,000 $90,000 $50,000

Present value of cash inflows $100,000 $100,000 $60,000

Using the profitability index, rank the projects, starting with the most attractive. (Points : 5)

A, C, B.
A, B, C.
C, A, B.
C, B, A.

11. (TCO 6) Cleaners, Inc. is considering purchasing equipment costing $30,000 with a six-year useful life. The equipment will provide cost savings of $7,300 and will be depreciated straight-line over its

useful life with no salvage value. Cleaners requires a 10% rate of return. What is the approximate net present value of this investment? (Points : 5)

$13,800
$1,794
$886
$2,748

12. (TCO 7) Which of the following would not appear as a fixed expense on a selling and administrative expense budget? (Points : 5)

Freight-out
Office salaries
Property taxes
Depreciation

13. (TCO 7) A company budgeted unit sales of 102,000 units for January, 2008 and 120,000 units for February, 2008. The company has a policy of having an inventory of units on hand at the end of each

month equal to 30% of next month’s budgeted unit sales. If there were 30,600 units of inventory on hand on December 31, 2007, how many units should be produced in January, 2008 in order for the company

to meet its goals? (Points : 5)

107,400 units
102,000 units
96,600 units
138,000 units

14. (TCO 8) Standards that are based on efficient activity with allowances for unavoidable losses are called _______ (Points : 5)

basic standards.
maximum efficiency standards.
currently attainable standards.
expected standards.

15. (TCO 9) A static budget is appropriate for __________ (Points : 5)

variable overhead costs.
direct materials costs.
fixed overhead costs.
none of these.

16. (TCO 9) If the activity level increases 10%, total variable costs will ___________. (Points : 5)

remain the same
increase by more than 10%
decrease by less than 10%
increase 10%

17. (TCO 9) At the high level of activity in November, 7,000 machine hours were run and power costs were $12,000. In April, a month of low activity, 2,000 machine hours were run and power costs amounted

to $6,000. Using the high-low method, what is the estimated fixed cost element of power costs? (Points : 5)

$12,000
$6,000
$3,600
$8,400

18. (TCO 10) Which of the following statements regarding budget reports is incorrect? (Points : 5)

The cost of budget reports should not outweigh the benefits.
Budget reports are used for planning, control, and information.
Reports prepared for upper management typically have fewer details than reports prepared for lower-level managers.
Reports are prepared more frequently for upper management than for lower-level managers.

Page 2

1. (TCO 7) The first step in creating the master budget is the sales budget. Describe this budget and the information it includes. Why is the accuracy of the sales budget important? (Points : 20)

2. (TCO 9) Understanding how costs behave can help managers plan operations and choose between various courses of action.

Part (a) Identify and describe the three types of cost behavior, including examples of each Part.

Part (b) As a manager, which cost behavior would you prefer and why? (Points : 20)

3. (TCO 6) Yappy Company is considering a capital investment of $320,000 in additional equipment. The new equipment is expected to have a useful life of 8 years with no salvage value. Depreciation is computed by the straight-line method. During the life of the investment, annual net income and cash inflows are expected to be $25,000 and $65,000, respectively. Yappy requires a 10% return on all new investments.

Part (a) Compute each of the following:
1: Payback period.
2: Net present value.
3: Profitability index.
4: Internal rate of return.
5: Accounting rate of return.

(b) Indicate whether the investment should be accepted or rejected. (Points : 30)

4. (TCO 7) Roswell Company has budgeted sales revenue as follows for the next 4 months as follows:

February

$150,000

March

$120,000

April

$105,000

May

$165,000

Past experience indicates that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 35% in the month following the sale, and 3% in the second month following the sale. The other 2% is uncollectible.

Prepare a schedule which shows expected cash receipts from sales for the month of May.

5. (TCO 8) Eastern Company’s budgeted and actual sales for 2009 were:

Product

Budgeted Sales

Actual Sales

A

35,300 units at $2.00 per unit

32,700 units at $2.60 per unit

B

27,900 units at $5.00 per unit

29,200 units at $4.70 per unit

Part (a) Calculate the sales volume variance.
Part (b) Calculate the sales price variance.
Part (c) Calculate the total sales variance.

6. (TCO 9) The Mays Clinic has the following monthly telephone records and costs:
Calls

Costs

2,000

$2,400

1,500

2,000

2,200

2,600

2,500

2,900

2,300

2,700

1,700

2,200

Identify the fixed and variable cost elements using the high-low method.

2. (TCO 9) Understanding how costs behave can help managers plan operations and choose between various courses of action.

Part (a) Identify and describe the three types of cost behavior, including examples of each.
Part (b) As a manager, which cost behavior would you prefer and why? (Points : 20)

3. (TCO 6) Yappy Company is considering a capital investment of $320,000 in additional equipment. The new equipment is expected to have a useful life of 8 years with no salvage value. Depreciation is

computed by the straight-line method. During the life of the investment, annual net income and cash inflows are expected to be $25,000 and $65,000, respectively. Yappy requires a 10% return on all new

investments.

Part (a) Compute each of the following:
1: Payback period.
2: Net present value.
3: Profitability index.
4: Internal rate of return.
5: Accounting rate of return.
(b) Indicate whether the investment should be accepted or rejected. (Points : 30)

4. (TCO 7) Roswell Company has budgeted sales revenue as follows for the next 4 months as follows:

February

$150,000

March

$120,000

April

$105,000

May

$165,000

Past experience indicates that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 35% in the month following the sale, and 3% in the second

month following the sale. The other 2% is uncollectible.

Prepare a schedule which shows expected cash receipts from sales for the month of May.

5. (TCO 8) Eastern Company’s budgeted and actual sales for 2009 were:

Product

Budgeted Sales

Actual Sales

A 35,300 units at $2.00 per unit

32,700 units at $2.60 per unit

B 27,900 units at $5.00 per unit

29,200 units at $4.70 per unit

Part (a) Calculate the sales volume variance.
Part (b) Calculate the sales price variance.
Part (c) Calculate the total sales variance.

6. (TCO 9) The Mays Clinic has the following monthly telephone records and costs:

Calls Costs

2,000 $2,400

1,500 2,000

2,200 2,600

2,500 2,900

2,300 2,700

1,700 2,200

Identify the fixed and variable cost elements using the high-low method.

For getting the solution, Please click on the “PURCHASE” link below to get Devry Busn 278 Budgeting and Forecasting Final Exam_Answer

For instant digital download of the above solution or tutorial, please click on the below link and make an instant purchase. You will be guided to the PAYPAL Standard payment page wherein you can pay and you will receive an email immediately with a download link. Please note that in case of technical glitch, the solutions will be emailed to you within 24 hours.

In case you find any problem in getting the download link or downloading the tutorial, please send us an email on mail@genietutorial.com

Devry Busn 278 Budgeting and Forecasting Final Exam_Answer

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ECON-545- Business Economics_Course Week 8 Final Exam_Answer_ALL Sets

ECON-545- Business Economics_Course Week 8 Final Exam_Answer_ALL Sets

ECON-545- Business Economics_Course Week 8 Final Exam_Answer_ALL Sets

Set 1

1. Question :(TCO A) Suppose you are hired to manage a small manufacturing facility that produces Widgets.

(a.) (15 points) You know from data collected on the Widget Market that market demand and market supply have both increased recently. As manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility?

Remember that supply and demand are about the market supply and market demand, which is bigger than your own company. You are being given data on supply and demand for the whole market and are being asked what effect that has on you as a small part of that market.

(b.) (15 points) Now, suppose that following the supply and demand changes in (a), a substitute good goes up in price, and your costs of production increase. What new decisions will you make regarding production levels and pricing for your Widget facility?
(TCO B) Here is some data on the demand for marshmallows:

Price Quantity
$10 100
$ 8 300
$ 6 700
$ 4 1300
$ 2 2200

(a.) (15 points) Is demand elastic or inelastic in the $6-$8 price range? How do you know?

(b.) (15 points) If the table represents the demand faced by a monopoly firm, then what is that firm’s marginal revenue as it increases output from 1300 units to 2200 units? Show all work. (Be careful here!)
3. Question : (TCO C) You have been hired to manage a small manufacturing facility whose cost and production data are given in the table below.
Total Total
Workers Labor Cost Output Revenue
1 $500 100 $700
2 1000 280 1150
3 1500 440 1440
4 2000 540 1570
5 2500 600 1670
6 3000 630 1710
7 3500 640 1730

(a.) (6 points) What is the marginal product of the second worker?

(b.) (6 points) What is the marginal revenue product of the fourth worker?

(c.) (6 points) What is the marginal cost of the first worker?

(d.) (12 points) Based on your knowledge of marginal analysis, how many workers should you hire? Explain you answer.

4. Question : (TCO C) Answer the next questions on the basis of the following cost data for a firm in pure competition:

OUTPUT —— TFC ———- TVC
0 $100.00 0.00
1 100.00 70.00
2 100.00 120.00
3 100.00 150.00
4 100.00 200.00
5 100.00 270.00
6 100.00 360.00

(a.) (15 points) Refer to the above data. If the product price is $45 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.

(b.) (15 points) Refer to the above data. If the product price is $75 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.

5. Question : (TCO D) A software producer has fixed costs of $18,000 per month and her Total Variable Costs (TVC) as a function of output Q are given below:

Q TVC Price
1,000 $15,000 $25
2,000 20,000 24
3,000 30,000 23
4,000 50,000 22
5,000 80,000 20
(a.) (15 points) If software can only be produced in the quantities above, what should be the production level if the producer operates in a monopolistic competitive market where the price of software at each possible quantity is also listed above? Why? (Show all work).

(b.) (15 points) What should be the production level if fixed costs rose to $48,000 per month? Explain.
6. Question : (TCO F)

(a.) (20 points) Suppose nominal GDP in 1999 was $200 billion, and in 2001, it was $270 billion. The general price index in 1999 was 100 and in 2001 it was 150. Between 1999 and 2001, the real GDP rose by what percent?

(b.) Use the following scenario to answer questions (b1) and (b2).
In a given year in the United States, the total number of residents is 270 million, the number of residents under the age of 16 is 38 million, the number of institutionalized adults is 15 million, the number of adults who are not looking for work is 17 million, and the number of unemployed is 10 million.

(b1.) (5 points) Refer to the data in the above scenario. What is the size of the labor force in the United States for the given year?

(b2.) (5 points) Refer to the data in the above scenario. What is the unemployment rate in the United States for the given year?
7. Question : (TCO G and H)

(a.) (15 points) Suppose your local Congress representative suggests that the federal government intervenes in the gasoline market to stop runaway price increases. Would you say that this view basically supports the Keynesian or the Monetarist school of thought? Why? What position would the opposing school of thought take on this issue? (Be brief — you can answer this in 2 or 3 brief paragraphs).

(b.) (10 points) Any change in the economy’s total expenditures would be expected to translate into a change in GDP that was larger than the initial change in spending. This phenomenon is known as the multiplier effect. Explain how the multiplier effect works.

(c.) (15 points) You are told that 90 cents out of every extra dollar pumped into the economy goes toward consumption (as opposed to saving). Estimate the GDP impact of a positive change in government spending that equals $20 billion.

8. Question : (TCO G)
(a.) (20 points) Third National Bank is fully loaned up with reserves of $20,000 and demand deposits equal to $100,000. The reserve ratio is 20%. Households deposit $5,000 in currency into the bank. How much excess reserves does the bank now have, and what is the maximum amount of new money that can be created in the banking system as a result of this deposit? Show all work.

(b.) (20 points) What is the discount rate in the banking system? Explain how the Fed manipulates this rate to achieve macroeconomic objectives.
9. Question : (TCO E and I) Let the exchange rate be defined as the number of dollars per British pound. Assume there is a decrease in U.S. interest rates relative to that of Britain.

(a.) (10 points) Would this event cause the demand for the dollar to increase or decrease relative to the demand for the pound? Why?

(b.) (10 points) Has the dollar appreciated or depreciated in value relative to the pound?

(c.) (10 points) Does this change in the value of the dollar make imports cheaper or more expensive for Americans? Are American exports cheaper or more expensive for importers of U.S. goods in Great Britain? Illustrate by showing the price of a U.S. cell phone in Britain before and after the change in the exchange rate.

(d.) (10 points) If you had a business exporting goods to Britain, and U.S. interest rates fell as they have in this example, would you plan to expand production or cut back? Why?

Set 2

1. (TCO A) Suppose you are hired to manage a small manufacturing facility that produces Widgets.

(a.) (15 points) You know from data collected on the Widget Market that market demand has recently increased and market supply has recently decreased. As manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility?

Remember that supply and demand are about the market supply and market demand, which is bigger than your own company. You are being given data on supply and demand for the whole market and are being asked what effect that has on you as a small part of that market.

(b.) (15 points) Now, suppose that following the supply and demand changes in (a), a substitute good goes up in price, and your costs of production decrease. What new decisions will you make regarding production levels and pricing for your Widget facility? (Points : 30)

2. (TCO B) Here is some data on the demand for lettuce:

Price Quantity
$10 100
$ 8 120
$ 6 140
$ 4 160
$ 2 180

(a.) (15 points) Is demand elastic or inelastic in the $6-$8 price range? How do you know?

(b.) (15 points) If the table represents the demand faced by a monopoly firm, then what is that firm’s marginal revenue as it increases output from 160 units to 180 units? Show all work. (Be careful here!) (Points : 30)
. (TCO C) You have been hired to manage a small manufacturing facility whose cost and production data are given in the table below.

Total Total
Workers Labor Cost Output Revenue
1 $200 50 $350
2 400 140 675
3 600 220 1120
4 800 270 1570
5 1000 300 1865
6 1200 315 2070
7 1400 320 2170

(a.) (6 points) What is the marginal product of the second worker?

(b.) (6 points) What is the marginal revenue product of the fourth worker?

(c.) (6 points) What is the marginal cost of the first worker?

(d.) (12 points) Based on your knowledge of marginal analysis, how many workers should you hire? Explain you answer. (Points : 30)
4. (TCO C) John operates a small business out of his home and has very little in terms of fixed costs. Answer the next questions (Parts A and B) on the basis of the following cost data for John’s firm operating in pure competition:

OUTPUT —— TFC ———- TVC
0 $30.00 0.00
1 30.00 70.00
2 30.00 120.00
3 30.00 150.00
4 30.00 200.00
5 30.00 270.00
6 30.00 360.00

(a.) (15 points) Refer to the above data. If the product price is $60, at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.

(b.) (15 points) Refer to the above data. If the product price is $55 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations. (Points : 30)
5. (TCO D) A software producer has fixed costs of $30,000 per month and her Total Variable Costs (TVC) as a function of output Q are given below:

Q TVC Price
3,000 $ 5,000 $5
13,000 25,000 4
23,000 50,000 3
33,000 80,000 2
43,000 120,000 1
(a.) (15 points) If software can only be produced in the quantities above, what should be the production level if the producer operates in a monopolistic competitive market where the price of software at each possible quantity is also listed above? Why? (Show all work.)
(b.) (15 points) What should be the production level if fixed costs rose to $50,000 per month? Explain.
6. (TCO F)

(a.) (20 points) Suppose nominal GDP in 1999 was $200 billion, and in 2001, it was $270 billion. The general price index in 1999 was 100 and in 2001 it was 150. Between 1999 and 2001, the real GDP rose by what percent?

(b.) Use the following scenario to answer questions (b1) and (b2).
In a given year in the United States, the total number of residents is 270 million, the number of residents under the age of 16 is 38 million, the number of institutionalized adults is 15 million, the number of adults who are not looking for work is 17 million, and the number of unemployed is 10 million.

(b1.) (5 points) Refer to the data in the above scenario. What is the size of the labor force in the United States for the given year?

(b2.) (5 points) Refer to the data in the above scenario. What is the unemployment rate in the United States for the given year? (Points : 30)
7. (TCO G and H)

(a.) (15 points) Suppose your local Congress representative suggests that the federal government intervenes in the gasoline market to stop runaway price increases. Would you say that this view basically supports the Keynesian or the Monetarist school of thought? Why? What position would the opposing school of thought take on this issue? (Be brief — you can answer this in 2 or 3 brief paragraphs).

(b.) (10 points) Any change in the economy’s total expenditures would be expected to translate into a change in GDP that was larger than the initial change in spending. This phenomenon is known as the multiplier effect. Explain how the multiplier effect works.

(c.) (15 points) You are told that 90 cents out of every extra dollar pumped into the economy goes toward consumption (as opposed to saving). Estimate the GDP impact of a positive change in government spending that equals $20 billion.
(Points : 40)
8. (TCO G)

(a.) Reserve requirement for banks is set at 5%. Your firm deposits its profits of $28,000 into the Third National Bank.

(10 points) How much excess reserve does your deposit generate for the bank?

(10 points) What is the maximum amount of new money that can be created in the banking system as a result of this deposit? Show all work.

(b.) (10 points) What is the Federal Funds Rate in the banking system?

(10 points) Explain how the Fed manipulates this rate in order to achieve macroeconomic objectives. (Points : 40)

9. (TCOs E and I) Let the exchange rate be defined as the number of dollars per Japanese yen. Assume that there is a relatively lower rate of inflation in the U.S. relative to that of Japan.

(a.) (10 points) Would this event cause the demand for the dollar to increase or decrease relative to the demand for the yen? Why?

(b.) (10 points) Has the dollar appreciated or depreciated in value relative to the yen?

(c.) (10 points) Does this change in the value of the dollar make imports cheaper or more expensive for Americans? Are American exports cheaper or more expensive for importers of U.S. goods in Japan? Illustrate by showing the price of a U.S. e-reader in Japan, before and after the change in the exchange rate.

(d.) (10 points) If you had a business exporting goods to Japan, and U.S. inflation fell as discussed above in this example, would you plan to expand production or cut back? Why? (Points : 40)

Set 3

1. Suppose you are hired to manage a samll manufacturing facility that produces widgets
A. You know form data collected on the widget marekt that the market demand has recently increased and mareket supply has recently decreased. As manager of the facility, what decison should you make regarding production levels and pricing for you wideget facility?
Remember that supply and deman are about the makert supply and market demand, which is bigger than your own company. You are being given data on supply and demand for the whole market and are being asked what effect that has on you as a small part of that market
B. Now suppose that follwing the supply and demand changes in (a) a subsitute good goes up in price, and your cost of product decrease. What decisons will you make regarding production levels and pricing for your widget facility?

2. Here is data on the demand for lettuce
Price Quantity
10$ 100
8$ 120
6$ 140
4$ 160
2$ 180
A. Is demand elastic or inelastic in the 6-8$ price range? How do you know?

(b.) (15 points) If the table represents the demand faced by a monopoly firm, then what is that firm’s marginal revenue as it increases output from 160 units to 180 units? Show all work. (Be careful here!) (Points : 30)
3.A Suppose nominal GDP in 1999 was 100billion and in 2001 it was 260billion. The general price index in 199 was 100, and in 2001 it was 180. Between 1999 and 2001, the real GDP rose by what present?

4. Suppose your local congress representive suggest that the federal government intervenes in the gasonline market to stop runaway price increases. Would you say that this view bsically supports the Keynesin or Monetarist school of thought? Why? What postion would the opposting school of though tke on this issue?
b. Any change in the economys total expenditures would be expected to translate into change in GDP that was larger than the initial change in spending. This phenomenon os known as the multiplier effect. Explain the multipler effect works.

c. you are told that 90 cents our of every extra dollar pumpled into the econoomy goes toward consumption (as opposed to saving) Estimate the GDP impact of positive change in govenment spending that equals 20 billion.

5. Reserve requirment for banks is set at 5%. Your firm depositis it profits of 28,000 inot the Third National Bank.
A. How much excess reserve does your deposit generate for the bank?
What is the maximum amount of new money that can be created in the banking system as a result of this deposit? Show all work
B. What is the federal funds rate in the banking system?
Explain how the fed manipulates this rate in order to achieve macroeonmic objectives?
6. Let the exchange rate be defined as the number of dollars per Japanese yen. Assume there is a increase in U.S interest ratres relative to that of Japan.
A. Would this event cause the demand for the dollar to increase or decrease relative to the demand for the yen? Why?
b.) Has the dollar appreciatred or depreciated in value relative to the yen?
c.) Does this change in the value of the dollar make imports cheaper or more expensive for Americans? Are American exports cheaper or more expensive for importers of U.S goods in Japan? Illustrate by showing the price of a U.S e reader in japan before and after the change in the exchange rate.

d.) If you had a business exporting good to japan, and u.s interest rate rose as they have in this example, would you plan to expand production or cut back? Why

1. A software producer has fixed cost of 20,000 per month and her total variable costs TVC as a function fo output Q are given below. Complete the table (TC, MC, TR, and MR)
Q TVC Price
2,000 5,000 25
4,000 7,000 22
6,000 18,000 20
8,000 33,000 10
10,000 50,000 1
A. If software can only be produced in the quantities above, what should be the production level if the producer operates in a monopolistic cometitive market whre the price of software at each possible quantity is also listed above? Why? (show work)

B. What should be the production level if fixed cost rose to 70,000 per month? Explain

1. A software producer has fixed cost of 20,000 per month and her total variable costs TVC as a function fo output Q are given below. Complete the table (TC, MC, TR, and MR)
Q TVC Price
2,000 5,000 25
4,000 7,000 22
6,000 18,000 20
8,000 33,000 10
10,000 50,000 1
A. If software can only be produced in the quantities above, what should be the production level if the producer operates in a monopolistic cometitive market whre the price of software at each possible quantity is also listed above? Why? (show work)
B. What should be the production level if fixed cost rose to 70,000 per month? Explain

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GSCM 429_Prod Activity Ctrl Week_8_Final Exam week_Final Exam_Set 1 and 2_Complete_Answer

GSCM 429_Prod Activity Ctrl Week_8_Final Exam week_Final Exam_Set 1 and 2_Complete_Answer

GSCM 429_Prod Activity Ctrl Week_8_Final Exam week_Final Exam_Set 1 and 2_Complete_Answer

 

GSCM 429_Prod Activity Ctrl Week_8_Final Exam week_Final Exam_Set 1 and 2_Complete_Answer

GSCM 429_Prod Activity Ctrl Week_8_Final Exam week_Final Exam_Set 1 and 2_Complete_Answer

GSCM 429_Prod Activity Ctrl Week_8_Final Exam week_Final Exam_Set 1 and 2_Complete_Answer

1. The two different approaches to load work centers in job-shop scheduling are
load charts and schedule charts.
Gantt charts and assignment method.
infinite loading and finite loading.
linear programming and makespan.
None of the above

2. The priority rule where jobs are processed according to the smallest ratio of due date to processing time is
CR.
EEDD.
FCFS.
S/O.
SPT.

3. A scheduling rule used for sequencing jobs through two work centers is
the critical ratio rule.
the Johnson’s rule.
the slack per operation rule.
the shortest processing time rule.
the Pareto rule.

4. The owner and operator of the local franchise of Handyman, Inc., has four jobs to do today, shown in the order they were received:

Job Processing Time (hrs) Due (hrs from now)
————————————————————————————————-
W 4 4
X 3 5
Y 2 2
Z 1 1

If he uses the first-come, first-served (FCFS) priority rule to schedule these jobs, what will be the average completion time?
7.5 hours
5 hours
3 hours
2.5 hours
2 hours

5. The ultimate goal of JIT operations is to have
no in-process inventories.
cross-trained workers capable of handling every process.
a smooth, rapid flow of materials through the system.
no setup times.
All of the above

6. Building up an inventory of standard parts or modules instead of immediately producing the finished end items is the essence of
delayed differentiation.
kanban.
autonomation.
andon.
matrix management.

7. A kanban card is used to signal that (Points : 5)
work is needed at the work center.
work is ready to be moved to the next station.
a worker has run out of parts needed for further processing.
a machine has broken down and needs immediate attention.
a machine is ready for preventive maintenance.

8. The type of processing system that is used for highly standardized products is
continuous.
intermittent.
project.
batch.
unit.

1. The priority rule, which will sequence jobs in the order they are received, is _____.
EDD
LIFO
SPT
CR
FCFS

2. In an assignment method problem, if it takes Abe 3 hours to build a birdhouse and 4 hours for a doghouse, and Betty takes 4 hours for a birdhouse and 3 hours for a doghouse, what is the reduced cost (in hours) of assigning Betty to build the doghouse?
0 hours
1 hour
2 hours
3 hours
4 hours

3. A major difference between manufacturing and service systems in terms of scheduling is
variability in arrival and service rates.
processing cost per unit.
the number of units to be processed.
length of processing time.
output rate.

4. Scheduling in service systems may involve scheduling which of the following?

The workforce
The equipment
A and B
Customers
All of the above

5. The owner and operator of the local franchise of Handyman, Inc., has four jobs to do today, shown in the order they were received:

Job Processing Time (hrs) Due (hrs from now)
————————————————————————————————-
W 4 4
X 3 5
Y 2 2
Z 1 1

If he uses the earliest due date first (EDD) priority rule to schedule these jobs, what will be the average job tardiness?
0 hours
1.5 hours
1.75 hours
2 hours
2.25 hours

6. Building up an inventory of standard parts or modules instead of immediately producing the finished end items is the essence of (Points : 5)
delayed differentiation.
kanban.
autonomation.
andon.
matrix management.

7. With regard to suppliers, JIT systems typically require
delivery of large lots at regular intervals.
buyer inspection of goods and materials.
multiple sources from which to purchase.
long-term relationships and commitments.
the lowest price possible.

8. Which of the following is characteristic of the JIT philosophy?
Inventories are an asset.
Lot sizes are optimized by formula.
Vendors are co-workers, essentially other departments of our organization.
Queues are a necessary investment.
All of the above

9. In make-to-stock systems, fluctuations in sales volume are managed through which of the following?
Order backlog
Finished goods inventory
WIP or FG inventory
All of the above
None of the above

10. In an MRP master schedule, the planning horizon is often separated into a series of times periods called
pegging.
lead times.
stacked lead times.
time buckets.
firm, fixed, and frozen.

1.Does cellular manufacturing apply best to repetitive, high-volume product or nonrepetitive, low-volume product? Explain and give an example.

2. Validate or invalidate the statement that although inventories are maintained, the goal of lean operations is to maintain a minimum of safety stock.

3. Elaborate on the statement: “The output of the system cannot exceed the output of the bottleneck operation(s).”

4. Differentiate between infinite loading and finite loading as two major approaches used to load work centers.

5. Explain why batch process helps maximize worker efficiency.

6. Refer to the following data for jobs waiting to be processed at a single work center (jobs are shown in order of arrival):

Job Processing Time (days) Due Date (days from now)
——————————————————————————————————
A 2 2
B 5 6
C 6 10
D 3 4
E 4 8

What is the schedule sequence using the first-come, first-served (FCFS) priority rule?

7. Respond to the question: “Which is better, MRP or JIT?”

8. The design of the MPC system is influenced by some key features of market demand and product design. Name the key features that will lead to a make-to-stock system and explain the rationale.

9. Market requirements drive the choice of the shop floor system approach. Describe and explain the type of market requirements that would be suitable for an MRP-based system, along the lines of product design, product variety, and product volume per period, product mix changes, and delivery schedule changes.

10. Manufacturing strategy also drives the choice of shop floor system. Describe and explain the strategies that lend themselves to a JIT-based system, from the perspective of WIP, changeover cost, and process choice.

1. Explain how cellular manufacturing represents a flexible manufacturing system.

2. State the four building blocks of lean operations, and explain how fast and simple are the two common threads that run through them.

3. Elaborate on the statement: “The output of the system cannot exceed the output of the bottleneck operation(s).

4. Differentiate between infinite loading and finite loading as two major approaches used to load work centers.

5. The theory of constraints has a goal of maximizing flow through the entire system.

6. Refer to the following data for jobs waiting to be processed at a single work center (jobs are shown in order of arrival):

Job Processing Time (days) Due Date (days from now)
——————————————————————————————————
A 2 2
B 5 6
C 6 10
D 3 4
E 4 8

What is the average completion time for the first-come, first-served (FCFS) priority rule schedule? Average job tardiness? Average number of jobs at the center?

7. Respond to the question: “Which is better, MRP or JIT?

8. The design of the MPC system is influenced by some key features of market demand and product design. Name the key features that will lead to an assemble-to-order system and explain the rationale.

9. Market requirements drive the choice of the shop floor system approach. Describe and explain the type of market requirements that would be suitable for an MRP-based system, along the lines of product design, product variety, product volume per period, product mix changes, and delivery schedule changes.

10. Manufacturing strategy also drives the choice of shop floor system. Describe and explain the strategies that lend themselves to a JIT-based system, from the perspective of WIP, changeover cost, and process choice.

 

 

 

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ECON-545- Business Economics_Course Week 8 Final Exam_Answer_ALL Sets

ECON-545- Business Economics_Course Week 8 Final Exam_Answer_ALL Sets

ECON-545- Business Economics_Course Week 8 Final Exam_Answer_ALL Sets

1. Question :(TCO A) Suppose you are hired to manage a small manufacturing facility that produces Widgets.

(a.) (15 points) You know from data collected on the Widget Market that market demand and market supply have both increased recently. As manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility?

Remember that supply and demand are about the market supply and market demand, which is bigger than your own company. You are being given data on supply and demand for the whole market and are being asked what effect that has on you as a small part of that market.

(b.) (15 points) Now, suppose that following the supply and demand changes in (a), a substitute good goes up in price, and your costs of production increase. What new decisions will you make regarding production levels and pricing for your Widget facility?
(TCO B) Here is some data on the demand for marshmallows:

Price Quantity
$10 100
$ 8 300
$ 6 700
$ 4 1300
$ 2 2200

(a.) (15 points) Is demand elastic or inelastic in the $6-$8 price range? How do you know?

(b.) (15 points) If the table represents the demand faced by a monopoly firm, then what is that firm’s marginal revenue as it increases output from 1300 units to 2200 units? Show all work. (Be careful here!)
3. Question : (TCO C) You have been hired to manage a small manufacturing facility whose cost and production data are given in the table below.
Total Total
Workers Labor Cost Output Revenue
1 $500 100 $700
2 1000 280 1150
3 1500 440 1440
4 2000 540 1570
5 2500 600 1670
6 3000 630 1710
7 3500 640 1730

(a.) (6 points) What is the marginal product of the second worker?

(b.) (6 points) What is the marginal revenue product of the fourth worker?

(c.) (6 points) What is the marginal cost of the first worker?

(d.) (12 points) Based on your knowledge of marginal analysis, how many workers should you hire? Explain you answer.

4. Question : (TCO C) Answer the next questions on the basis of the following cost data for a firm in pure competition:

OUTPUT —— TFC ———- TVC
0 $100.00 0.00
1 100.00 70.00
2 100.00 120.00
3 100.00 150.00
4 100.00 200.00
5 100.00 270.00
6 100.00 360.00

(a.) (15 points) Refer to the above data. If the product price is $45 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.

(b.) (15 points) Refer to the above data. If the product price is $75 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.

5. Question : (TCO D) A software producer has fixed costs of $18,000 per month and her Total Variable Costs (TVC) as a function of output Q are given below:

Q TVC Price
1,000 $15,000 $25
2,000 20,000 24
3,000 30,000 23
4,000 50,000 22
5,000 80,000 20
(a.) (15 points) If software can only be produced in the quantities above, what should be the production level if the producer operates in a monopolistic competitive market where the price of software at each possible quantity is also listed above? Why? (Show all work).

(b.) (15 points) What should be the production level if fixed costs rose to $48,000 per month? Explain.
6. Question : (TCO F)

(a.) (20 points) Suppose nominal GDP in 1999 was $200 billion, and in 2001, it was $270 billion. The general price index in 1999 was 100 and in 2001 it was 150. Between 1999 and 2001, the real GDP rose by what percent?

(b.) Use the following scenario to answer questions (b1) and (b2).
In a given year in the United States, the total number of residents is 270 million, the number of residents under the age of 16 is 38 million, the number of institutionalized adults is 15 million, the number of adults who are not looking for work is 17 million, and the number of unemployed is 10 million.

(b1.) (5 points) Refer to the data in the above scenario. What is the size of the labor force in the United States for the given year?

(b2.) (5 points) Refer to the data in the above scenario. What is the unemployment rate in the United States for the given year?
7. Question : (TCO G and H)

(a.) (15 points) Suppose your local Congress representative suggests that the federal government intervenes in the gasoline market to stop runaway price increases. Would you say that this view basically supports the Keynesian or the Monetarist school of thought? Why? What position would the opposing school of thought take on this issue? (Be brief — you can answer this in 2 or 3 brief paragraphs).

(b.) (10 points) Any change in the economy’s total expenditures would be expected to translate into a change in GDP that was larger than the initial change in spending. This phenomenon is known as the multiplier effect. Explain how the multiplier effect works.

(c.) (15 points) You are told that 90 cents out of every extra dollar pumped into the economy goes toward consumption (as opposed to saving). Estimate the GDP impact of a positive change in government spending that equals $20 billion.

8. Question : (TCO G)
(a.) (20 points) Third National Bank is fully loaned up with reserves of $20,000 and demand deposits equal to $100,000. The reserve ratio is 20%. Households deposit $5,000 in currency into the bank. How much excess reserves does the bank now have, and what is the maximum amount of new money that can be created in the banking system as a result of this deposit? Show all work.

(b.) (20 points) What is the discount rate in the banking system? Explain how the Fed manipulates this rate to achieve macroeconomic objectives.
9. Question : (TCO E and I) Let the exchange rate be defined as the number of dollars per British pound. Assume there is a decrease in U.S. interest rates relative to that of Britain.

(a.) (10 points) Would this event cause the demand for the dollar to increase or decrease relative to the demand for the pound? Why?

(b.) (10 points) Has the dollar appreciated or depreciated in value relative to the pound?

(c.) (10 points) Does this change in the value of the dollar make imports cheaper or more expensive for Americans? Are American exports cheaper or more expensive for importers of U.S. goods in Great Britain? Illustrate by showing the price of a U.S. cell phone in Britain before and after the change in the exchange rate.

(d.) (10 points) If you had a business exporting goods to Britain, and U.S. interest rates fell as they have in this example, would you plan to expand production or cut back? Why?

Set 1 Additional Questions:

Question 2. (TCO B) Suppose the governor of California has proposed increasing toll rates on California’s toll roads, and has presented two possible scenarios to implement these increases. Following are projected data for the two scenarios for the California toll roads:
Scenario 1: Toll rate in 2012: $10.00. Toll rate in 2016: $22.50
For every 100 cars using the toll roads in 2012, only 81.6 cars will use the toll roads in 2016.
Scenario 2:
Toll rate in 2012: $10.00. Toll rate in 2016: $17.50
For every 100 cars using the toll roads in 2012, only 96.2 cars will use the toll roads in 2016.
a. Using the midpoint formula, calculate the price elasticity of demand for Scenario 1 and Scenario 2. (10 points)
b. Assume 10,000 cars use California toll roads every day in 2012. What would be the daily total revenue received for each scenario in 2012 and in 2016? (6 points)
c. Is demand under Scenario 1 and under Scenario 2 price elastic, inelastic, or unit elastic. Briefly explain. (4 points)
(Points : 30)

Question 3. 3. (TCO C) You have been hired to manage a small manufacturing facility whose cost and production data are given in the table below.
Total Total
Workers Labor Cost Output Revenue
1 $500 100 $700
2 1000 280 1150
3 1500 440 1440
4 2000 540 1570
5 2500 600 1670
6 3000 630 1710
7 3500 640 1730

(a.) (6 points) What is the marginal product of the second worker?

(b.) (6 points) What is the marginal revenue product of the fourth worker?

(c.) (6 points) What is the marginal cost of the first worker?

(d.) (12 points) Based on your knowledge of marginal analysis, how many workers should you hire? Explain you answer.
(Points : 30)

Question 4. 4. (TCO C) Answer the next questions (Parts A and B) on the basis of the following cost data for a firm operating in pure competition:

OUTPUT —— TFC ———- TVC
0 $500.00 0.00
1 500.00 70.00
2 500.00 130.00
3 500.00 170.00
4 500.00 200.00
5 500.00 300.00
6 500.00 510.00

(a.) (15 points) Refer to the above data. If the product price is $185 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.

(b.) (15 points) Refer to the above data. If the product price is $200 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations. (Points : 30)

Question 5. 5. (TCO D) A software producer has fixed costs of $20,000 per month and her Total Variable Costs (TVC) as a function of output Q are given below. Complete the table (TC, MC, TR, and MR), then answer Parts A and B.

Q TVC Price
2,000 $5,000 $25
4,000 7,000 22
6,000 18,000 20
8,000 33,000 10
10,000 50,000 1
(a.) (15 points) If software can only be produced in the quantities above, what should be the production level if the producer operates in a monopolistic competitive market where the price of software at each possible quantity is also listed above? Why? (Show all work.)
(b.) (15 points) What should be the production level if fixed costs rose to $70,000 per month? Explain.
(Points : 30)

Question 6. 6. (TCO F)

(a.) (20 points) Suppose nominal GDP in 1999 was $200 billion, and in 2001, it was $270 billion. The general price index in 1999 was 100 and in 2001 it was 150. Between 1999 and 2001, the real GDP rose by what percent?

(b.) Use the following scenario to answer questions (b1) and (b2).
In a given year in the United States, the total number of residents is 270 million, the number of residents under the age of 16 is 38 million, the number of institutionalized adults is 15 million, the number of adults who are not looking for work is 17 million, and the number of unemployed is 10 million.

(b1.) (5 points) Refer to the data in the above scenario. What is the size of the labor force in the United States for the given year?

(b2.) (5 points) Refer to the data in the above scenario. What is the unemployment rate in the United States for the given year? (Points : 30)

Question 7. 7. (TCO G and H)

(a.) (15 points) What are the arguments for and against the use of fiscal policy to fight inflation, lower unemployment, and raise GDP (Keynesian and Monetarist)?

(b.) (10 points) Any change in the economy’s total expenditures would be expected to translate into a change in GDP that was larger than the initial change in spending. This phenomenon is known as the multiplier effect. Explain how the multiplier effect works.

(c.) (15 points) You are told that 80 cents out of every extra dollar pumped into the economy goes toward consumption (as opposed to saving). Estimate the GDP impact of a positive change in government spending that equals $10 billion. (Points : 40)

Question 8. 8. (TCO G)

(a.) Reserve requirement for banks is set at 5%. Your firm withdraws $42,000 on its line of credit at the Security Bank to purchase equipment for expansion. The equipment vendor deposits the amount that he receives from you at his bank, The Highland Bank.

(10 points) By how much has each bank’s excess reserves changed as a result of your withdrawal and expenditure?

(10 points) What is the maximum amount of new money that can be created in the banking system as a result of your purchase? Show all work.

(b.) (10 points) Suppose that the Security Bank discovers its reserves will temporarily fall slightly short of those legally required. How might it remedy this situation through the Federal Funds market?

(10 points) Explain how the Fed manipulates the Federal Funds Rate in order to achieve macroeconomic objectives.
(Points : 40)

Question 9. 9. (TCO E and I) Let the exchange rate be defined as the number of dollars per Japanese yen. Assume that there is a decrease in U.S. interest rates relative to that of Japan.

(a.) (10 points) Would this event cause the demand for the dollar to increase or decrease relative to the demand for the yen? Why?

(b.) (10 points) Has the dollar appreciated or depreciated in value relative to the yen?

(c.) (10 points) Does this change in the value of the dollar make imports cheaper or more expensive for Americans? Are American exports cheaper or more expensive for importers of U.S. goods in Japan? Illustrate by showing the price of a U.S. e-reader in Japan before and after the change in the exchange rate.

(d.) (10 points) If you had a business exporting goods to Japan, and U.S. interest rates fell as they have in this example, would you plan to expand production or cut back? Why? (Points : 40)

Set 2

1. (TCO A) Suppose you are hired to manage a small manufacturing facility that produces Widgets.

(a.) (15 points) You know from data collected on the Widget Market that market demand has recently increased and market supply has recently decreased. As manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility?

Remember that supply and demand are about the market supply and market demand, which is bigger than your own company. You are being given data on supply and demand for the whole market and are being asked what effect that has on you as a small part of that market.

(b.) (15 points) Now, suppose that following the supply and demand changes in (a), a substitute good goes up in price, and your costs of production decrease. What new decisions will you make regarding production levels and pricing for your Widget facility? (Points : 30)

2. (TCO B) Here is some data on the demand for lettuce:

Price Quantity
$10 100
$ 8 120
$ 6 140
$ 4 160
$ 2 180

(a.) (15 points) Is demand elastic or inelastic in the $6-$8 price range? How do you know?

(b.) (15 points) If the table represents the demand faced by a monopoly firm, then what is that firm’s marginal revenue as it increases output from 160 units to 180 units? Show all work. (Be careful here!) (Points : 30)
. (TCO C) You have been hired to manage a small manufacturing facility whose cost and production data are given in the table below.

Total Total
Workers Labor Cost Output Revenue
1 $200 50 $350
2 400 140 675
3 600 220 1120
4 800 270 1570
5 1000 300 1865
6 1200 315 2070
7 1400 320 2170

(a.) (6 points) What is the marginal product of the second worker?

(b.) (6 points) What is the marginal revenue product of the fourth worker?

(c.) (6 points) What is the marginal cost of the first worker?

(d.) (12 points) Based on your knowledge of marginal analysis, how many workers should you hire? Explain you answer. (Points : 30)
4. (TCO C) John operates a small business out of his home and has very little in terms of fixed costs. Answer the next questions (Parts A and B) on the basis of the following cost data for John’s firm operating in pure competition:

OUTPUT —— TFC ———- TVC
0 $30.00 0.00
1 30.00 70.00
2 30.00 120.00
3 30.00 150.00
4 30.00 200.00
5 30.00 270.00
6 30.00 360.00

(a.) (15 points) Refer to the above data. If the product price is $60, at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations.

(b.) (15 points) Refer to the above data. If the product price is $55 at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations. (Points : 30)
5. (TCO D) A software producer has fixed costs of $30,000 per month and her Total Variable Costs (TVC) as a function of output Q are given below:

Q TVC Price
3,000 $ 5,000 $5
13,000 25,000 4
23,000 50,000 3
33,000 80,000 2
43,000 120,000 1
(a.) (15 points) If software can only be produced in the quantities above, what should be the production level if the producer operates in a monopolistic competitive market where the price of software at each possible quantity is also listed above? Why? (Show all work.)
(b.) (15 points) What should be the production level if fixed costs rose to $50,000 per month? Explain.
6. (TCO F)

(a.) (20 points) Suppose nominal GDP in 1999 was $200 billion, and in 2001, it was $270 billion. The general price index in 1999 was 100 and in 2001 it was 150. Between 1999 and 2001, the real GDP rose by what percent?

(b.) Use the following scenario to answer questions (b1) and (b2).
In a given year in the United States, the total number of residents is 270 million, the number of residents under the age of 16 is 38 million, the number of institutionalized adults is 15 million, the number of adults who are not looking for work is 17 million, and the number of unemployed is 10 million.

(b1.) (5 points) Refer to the data in the above scenario. What is the size of the labor force in the United States for the given year?

(b2.) (5 points) Refer to the data in the above scenario. What is the unemployment rate in the United States for the given year? (Points : 30)
7. (TCO G and H)

(a.) (15 points) Suppose your local Congress representative suggests that the federal government intervenes in the gasoline market to stop runaway price increases. Would you say that this view basically supports the Keynesian or the Monetarist school of thought? Why? What position would the opposing school of thought take on this issue? (Be brief — you can answer this in 2 or 3 brief paragraphs).

(b.) (10 points) Any change in the economy’s total expenditures would be expected to translate into a change in GDP that was larger than the initial change in spending. This phenomenon is known as the multiplier effect. Explain how the multiplier effect works.

(c.) (15 points) You are told that 90 cents out of every extra dollar pumped into the economy goes toward consumption (as opposed to saving). Estimate the GDP impact of a positive change in government spending that equals $20 billion.
(Points : 40)
8. (TCO G)

(a.) Reserve requirement for banks is set at 5%. Your firm deposits its profits of $28,000 into the Third National Bank.

(10 points) How much excess reserve does your deposit generate for the bank?

(10 points) What is the maximum amount of new money that can be created in the banking system as a result of this deposit? Show all work.

(b.) (10 points) What is the Federal Funds Rate in the banking system?

(10 points) Explain how the Fed manipulates this rate in order to achieve macroeconomic objectives. (Points : 40)

9. (TCOs E and I) Let the exchange rate be defined as the number of dollars per Japanese yen. Assume that there is a relatively lower rate of inflation in the U.S. relative to that of Japan.

(a.) (10 points) Would this event cause the demand for the dollar to increase or decrease relative to the demand for the yen? Why?

(b.) (10 points) Has the dollar appreciated or depreciated in value relative to the yen?

(c.) (10 points) Does this change in the value of the dollar make imports cheaper or more expensive for Americans? Are American exports cheaper or more expensive for importers of U.S. goods in Japan? Illustrate by showing the price of a U.S. e-reader in Japan, before and after the change in the exchange rate.

(d.) (10 points) If you had a business exporting goods to Japan, and U.S. inflation fell as discussed above in this example, would you plan to expand production or cut back? Why? (Points : 40)

Set 3

1. Suppose you are hired to manage a samll manufacturing facility that produces widgets
A. You know form data collected on the widget marekt that the market demand has recently increased and mareket supply has recently decreased. As manager of the facility, what decison should you make regarding production levels and pricing for you wideget facility?
Remember that supply and deman are about the makert supply and market demand, which is bigger than your own company. You are being given data on supply and demand for the whole market and are being asked what effect that has on you as a small part of that market
B. Now suppose that follwing the supply and demand changes in (a) a subsitute good goes up in price, and your cost of product decrease. What decisons will you make regarding production levels and pricing for your widget facility?

2. Here is data on the demand for lettuce
Price Quantity
10$ 100
8$ 120
6$ 140
4$ 160
2$ 180
A. Is demand elastic or inelastic in the 6-8$ price range? How do you know?

(b.) (15 points) If the table represents the demand faced by a monopoly firm, then what is that firm’s marginal revenue as it increases output from 160 units to 180 units? Show all work. (Be careful here!) (Points : 30)
3.A Suppose nominal GDP in 1999 was 100billion and in 2001 it was 260billion. The general price index in 199 was 100, and in 2001 it was 180. Between 1999 and 2001, the real GDP rose by what present?

4. Suppose your local congress representive suggest that the federal government intervenes in the gasonline market to stop runaway price increases. Would you say that this view bsically supports the Keynesin or Monetarist school of thought? Why? What postion would the opposting school of though tke on this issue?
b. Any change in the economys total expenditures would be expected to translate into change in GDP that was larger than the initial change in spending. This phenomenon os known as the multiplier effect. Explain the multipler effect works.

c. you are told that 90 cents our of every extra dollar pumpled into the econoomy goes toward consumption (as opposed to saving) Estimate the GDP impact of positive change in govenment spending that equals 20 billion.

5. Reserve requirment for banks is set at 5%. Your firm depositis it profits of 28,000 inot the Third National Bank.
A. How much excess reserve does your deposit generate for the bank?
What is the maximum amount of new money that can be created in the banking system as a result of this deposit? Show all work
B. What is the federal funds rate in the banking system?
Explain how the fed manipulates this rate in order to achieve macroeonmic objectives?
6. Let the exchange rate be defined as the number of dollars per Japanese yen. Assume there is a increase in U.S interest ratres relative to that of Japan.
A. Would this event cause the demand for the dollar to increase or decrease relative to the demand for the yen? Why?
b.) Has the dollar appreciatred or depreciated in value relative to the yen?
c.) Does this change in the value of the dollar make imports cheaper or more expensive for Americans? Are American exports cheaper or more expensive for importers of U.S goods in Japan? Illustrate by showing the price of a U.S e reader in japan before and after the change in the exchange rate.

d.) If you had a business exporting good to japan, and u.s interest rate rose as they have in this example, would you plan to expand production or cut back? Why

1. A software producer has fixed cost of 20,000 per month and her total variable costs TVC as a function fo output Q are given below. Complete the table (TC, MC, TR, and MR)
Q TVC Price
2,000 5,000 25
4,000 7,000 22
6,000 18,000 20
8,000 33,000 10
10,000 50,000 1
A. If software can only be produced in the quantities above, what should be the production level if the producer operates in a monopolistic cometitive market whre the price of software at each possible quantity is also listed above? Why? (show work)

B. What should be the production level if fixed cost rose to 70,000 per month? Explain

1. A software producer has fixed cost of 20,000 per month and her total variable costs TVC as a function fo output Q are given below. Complete the table (TC, MC, TR, and MR)
Q TVC Price
2,000 5,000 25
4,000 7,000 22
6,000 18,000 20
8,000 33,000 10
10,000 50,000 1
A. If software can only be produced in the quantities above, what should be the production level if the producer operates in a monopolistic cometitive market whre the price of software at each possible quantity is also listed above? Why? (show work)
B. What should be the production level if fixed cost rose to 70,000 per month? Explain

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ECON-545-Business Economics_Final Exam