Benjamin Franklin once said, “If you fail to plan, you are planning to fail”. Explain
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- What method of planning the sequence of events has been shown to be the most successful?Management wants to explore the total profit using What If analysis with the data below. Fixed Cost = $10,000 Material cost per toy = $0.15 Labor cost per toy = $0.10 Vary the Revenue per toy from 0.60 to 1.10 by 0.05, and the labor cost from 0.08 to 0.16 by 0.01 When the quantity sold is 27,000 toys, what is the range of profits when the sales price is $$0.70? - $1,090 to $1,340 $260 to $2,690 $1,610 to $4,040 $2,960 to $5,390 $530 to $2,960Based on the picture below, explain each briefly like you are teaching this to your students or give a summary explanation about how scenario planning works. Key focal issue Driving forces Critical uncertainties Scenario Framework
- Contingency plans are alternative plans that can be put into effect if certain key events do not occur as expected. Select one: True FalseIn making a short and ong term financial goals, how can you reflect your current situation (as student) and your expected life (buying cars, house, a good life, healthy life, have retirement plan and so on) situation in 5 and 10 years.What are the possible causes of poor decision making? Please explain each of them.
- Think about Kerberos from the point of view of a business, for example.Is there a contingency plan in place in the event that either the AS or the TGS fails?Only solve the first part in black not red. Use excel spreadsheets.Read the case scenario. You walk into your office one morning and see an article on your desk. You pick it up and realize that the President and CEO placed it there! She also has some questions on a post-it note and a request for recommendations. Alexandria Marvel was exhausted. She had just finished a long meeting with her current VP of Headquarter Operations, Michael Brown. Michael, who was getting ready for retirement, gave her a rundown of a recent crisis that impacted the company. While the dust seemed to be settling, Alexandria recognized that this was one of the worst things to happen to the company. Michael recalls the crisis in the following way: “On the morning of January 19th, I got a call from Joanne Edwards, my contact at our major distributor, Happy and Healthy Foodmart. She told me that three of her customers had complained that LSN’s echinacea had made them ill. I called our legal department immediately to put them on alert. By noon that day, the number of reported…
- Explain the concept of contingency planning and its importance in preparing organizations for unexpected events, such as natural disasters, economic downturns, or technological failures.Read the case scenario. You walk into your office one morning and see an article on your desk. You pick it up and realize that the President and CEO placed it there! She also has some questions on a post-it note and a request for recommendations. Alexandria Marvel was exhausted. She had just finished a long meeting with her current VP of Headquarter Operations, Michael Brown. Michael, who was getting ready for retirement, gave her a rundown of a recent crisis that impacted the company. While the dust seemed to be settling, Alexandria recognized that this was one of the worst things to happen to the company. Michael recalls the crisis in the following way: “On the morning of January 19th, I got a call from Joanne Edwards, my contact at our major distributor, Happy and Healthy Foodmart. She told me that three of her customers had complained that LSN’s echinacea had made them ill. I called our legal department immediately to put them on alert. By noon that day, the number of reported…The table shows both prospective profits and losses for a company, depending on what decision is made and what state of nature occurs. Use the information to determine 2. what the company should do. State of Nature Decision s1 30 s2 80 S3 di d2 d3 d4 -30 100 30 -40 -80 -10 120 20 20 20 if an optimistic strategy is used. if a conservative strategy is used. if minimax regret is the strategy. а. b. c.
