
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
expand_more
expand_more
format_list_bulleted
Question

Transcribed Image Text:Question No. 1
You have just been hired as the new head of an audit team for a national accounting fi rm. With four years
of experience, you feel technically well prepared for the assignment. However, this is your first formal
appointment as a "manager." Things are complicated at the moment. The team has12 members of diverse
demographic and cultural backgrounds, as well as work experience. There is an intense workload and lots
of performance pressure. How will this situation challenge you to develop and use essential managerial
skills and related competencies to successfully manage the team to high levels of auditing performance?
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- John is CFO at a venture-backed tech start-up with revenues of $20 million andapproximately 80 employees. He has worked at the company for several years, andnow reports to Ralph, the company's newly hired CEO.The company had been doing really well, but recently big customers have been placingfewer orders and Ralph is feeling pressure to show growth. This pressure is amplifiedbecause the company is venture-backed, and the investors expect results. While thecompany did well in the first round of funding, if they don't perform now, they may havetrouble with gaining sufficient funding in the second round, which could mean the endof the company.All of this was on John's mind when Ralph came to him about recording a major orderthat was still under negotiation. The deal had not gone through, although both partiesexpected to complete the deal in the next week. With the current quarter ending in thenext few days, including this order would give a significant boost to the company'sfinancial…arrow_forwardCooking the Books Alexis Babb John is CFO at a venture-backed tech startup with revenues of $20 million and approximately 80 employees. He's worked at the company for several years, and now reports to Ralph, the company's newly hired CEO. The company had been doing really well, but recently big customers have been placing fewer orders and Ralph is feeling pressure to show growth. This pressure is amplified because the company is venture-backed, and the investors expect results. While the company did well in the first round of funding, if they don't perform now, they may have trouble with gaining sufficient funding in the second round, which could mean the end of the company. All of this was on John's mind when Ralph came to him about recording a major order that was still under negotiation. The deal had not gone through, although both parties expected to complete the deal in the next week. With the current quarter ending in the next few days, including this order would give a…arrow_forwardHow do I respond to this in 100 words? The focus of my Organizational Development Project and Proposal revolves around The Sharp Manufacturing Company of America, a subsidiary of Sharp Electronics Corporation. Situated within the Health and Environmental sector and falling under the umbrella of Sharp Home Electronics Company of America, SMCA specializes in the manufacturing of premium kitchen appliances. Within this company, I serve as the Master Planner within the Supply Chain department. My responsibilities encompass production planning, demand forecasting, capacity management, and overall supply chain oversight. In my capacity as the Master Planner, it is crucial for me to remain vigilant about industry dynamics and consumer preferences to effectively strategize production over a seven-month horizon. By closely monitoring trends, I can ensure that our production aligns with market demands, optimizing efficiency and meeting customer expectations. This involves constant adaptation and…arrow_forward
- "people are our greatest asset”. Quickly, you will be met with hundreds of matches, which appear to debate and contradict this premise. After reviewing a few, take a stance, and argue why people are or are not the most important asset of an organization. Furthermore, link your argument to how an organization should invest in people through training and professional development programs.arrow_forwardGive explaination for answer and give summary at lastarrow_forwardPlease do not copy and paste from online or printed resources, instead use your own words. Scenario: You work for B&B Import and Export Incorporated, who just acquired a new business, Agro Smart Suppliers, a Canadian distributor of outdoor power equipment such as trimmers, chainsaws, blowers, mowers, log splitters, pressure washers, parts and accessories. As a new division of B&B, your manager has given you the task of laying out a road map to success from an operations management and supply chain perspective?arrow_forward
- At a time when the retail industry was undergoing rapid change and increased competition, Denada Group knew it needed to find more efficient and effective ways to keep its managers focused on performance management and results. Denada Group was using a complex, 100% paper process for performance reviews and check-ins for more than 15,000 global employees. They wanted to move toward a digital performance management strategy, but knew they needed to simplify the process first. Denada Group set up four traditional components that were stretched across three strategic touch points throughout the year. These touch points were supplemented with ongoing performance conversations that could be initiated by any employee, at any time. As Denada Group evolved its company-wide performance approach, they were happy to see immediate progress. 92% of employees were participating in goal-setting reviews, setting an average of six goals per employee. However, when they dug into the data, they found…arrow_forwardWelcome, we’ll give you a couple more weeks to develop an action plan to deal with these problems. Monday, 10:30 a.m. Mike Cooney, Chief Financial Officer (CFO) Bring your perspective as a Total Rewards Manager as you read through the scenarios and analyze what to do. “We operate in a narrow niche market. We have to maintain a price advantage over the true custom manufacturers, or our customers will have no reason not to take advantage of the wider choices and individualized solutions. This means that efficiency of operations is our primary competitive advantage. If we lose that operating cost advantage, our business plan collapses like a house of cards. “We cannot produce at the incredibly low-cost level maintained by the mass market manufacturers. We would not get costs that low even if we mimicked their limited product lines and quality levels. We compete with them by creating styles and options that they don’t offer. Finding the balance between production costs and proliferation of…arrow_forwardYou are the manager of a train company. Recently total sales have been a bit low and you are now considering means to give sales a boost. Market research has shown that currently the price of train tickets is historically low. Market research has also shown that the demand curve for train tickets is downward sloping. You may assume that your company is not a price taker on the market. 1One of your colleagues has suggested that it is important to lower the price of train tickets. In that case, she argues, the demand will increase. Do you agree with her? Explain why. 2She continues her argument by concluding that if the demand goes up, the total value of sales of train tickets should therefore increase. Do you agree with her? Explain why.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,Operations ManagementOperations ManagementISBN:9781259667473Author:William J StevensonPublisher:McGraw-Hill EducationOperations and Supply Chain Management (Mcgraw-hi...Operations ManagementISBN:9781259666100Author:F. Robert Jacobs, Richard B ChasePublisher:McGraw-Hill Education
- Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage LearningProduction and Operations Analysis, Seventh Editi...Operations ManagementISBN:9781478623069Author:Steven Nahmias, Tava Lennon OlsenPublisher:Waveland Press, Inc.

Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,

Operations Management
Operations Management
ISBN:9781259667473
Author:William J Stevenson
Publisher:McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi...
Operations Management
ISBN:9781259666100
Author:F. Robert Jacobs, Richard B Chase
Publisher:McGraw-Hill Education


Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning

Production and Operations Analysis, Seventh Editi...
Operations Management
ISBN:9781478623069
Author:Steven Nahmias, Tava Lennon Olsen
Publisher:Waveland Press, Inc.