Reference no: EM131435697
Hard Wood Coals Jim Jam had been a career policeman for the past 25 years having joined the Police Force immediately upon leaving High School. Last March decided that it was time for him to retire and put in his claim for his pension and gratuity. Still very young at 43 years old, Jim Jam decided that he wanted to try his hand at something else, but his difficulty was that he had been a policeman all his life and had no other skills or work experience. In fact the only thing that can perhaps count as work experience was when he accompanied his father to the “coal kiln” when he was a little boy and there he would shovel coal into the bags his father brought along. After exploring all of his options for employment, including security work at an offshore medical School, Jim Jam decided that he will consider starting a small business in the tourist sector but was unsure as to exactly what he will do. One Friday afternoon he ventured into the capital city and was surprised by the large number of Bar BQ grills that lined the streets. His pastime as a young boy, helping his father, suddenly came back to mind as he noticed the large amount of coal that was being used to keep the grill fires burning. Asking around Jim Jam realised that coals was also in great demand, not only for the BBQ grills, but also at the beach bars and many of the tourist restaurants that catered to providing the visitors with an authentic eating Caribbean experience. After much thought he decided, like many others in a similar situation, to go into business producing coals for use in the many grills that operated on the island. Recognising his lack of business experience and knowledge, Jim Jam enrolled in the UWIOC Management Studies program and after studying for two semesters Jim Jam was determined to make a go of it. Business for him was slow at first because of the large number of persons who produced coals, however when the customers realised that the coal that Jim jam provided was of a very high quality and did not burn out quickly, his customers increased as word spread. As a complimentary service Jim Jam also trimmed shrubs, cut down trees and agreed with homeowners to remove their down trees for free, the wood from these trees were also used in his coal production business. Business was good and Jim Jam looked forward to building up a good base of customers and providing a high quality coals.
Question 1.
Raise discussion points on the following areas:
* The quality of her services
* Forecasting methods, inventory management, scheduling and maintenance
* Necessity of forecasting
* Inventory decision he has to make periodically
* How is scheduling important
* The importance of quality assurance in the coal business
* The trade-offs of a permanent job vs your own business. What are the risks?
* Can Jim Jam expand his business and if so how?
Discussing a real-world live example of accounting ethics
: This week we will be discussing a real-world, live example of accounting ethics. The organization where I am employed is undergoing their audit. Today was the first day of their field work. Of course, the auditors look younger and younger each year; ..
|
What are the forecasting requirement
: Hard Wood Coals Jim Jam had been a career policeman for the past 25 years having joined the Police Force immediately upon leaving High School. Last March decided that it was time for him to retire and put in his claim for his pension and gratuity. Wh..
|
Identify specific quantitative analysis techniques
: First, briefly describe the problem or opportunity. Then identify specific quantitative analysis techniques that could help you better understand the nature of the problem or opportunity as well as craft appropriate recommendations. What specific qua..
|
Description of one actual capital project-product failure
: For your first topic in this conference I would like for you to briefly review either your personal experiences and/or the financial literature to identify and present a description of one actual capital project/product failure and the reasons attrib..
|
Forecasting methods-inventory management and scheduling
: Hard Wood Coals Jim Jam had been a career policeman for the past 25 years having joined the Police Force immediately upon leaving High School. Last March decided that it was time for him to retire and put in his claim for his pension and gratuity. Th..
|
About the training
: Major Bill Bligh, Director of the Army War College’s new six-month attaché training program, is concerned about how the 20 officers taking the course spend their time while in his charge. Major Bligh recognizes that there are 168 hours per week and t..
|
Determine the optimal policy regarding
: The Athletic Department of Leland University is considering whether to hold an extensive campaign next year to raise funds for a new athletic field. The response to the campaign depends heavily upon the success of the football team this fall. Determi..
|
Determine decision tree and optimum alternative decision
: The Executives of the general products company (GPC) have to decide which of three products to introduce, A, B, or C. Product C is essentially a risk-free proposition, from which the company will obtain a net profit of $1 million. Solve the decision ..
|
Developing competitive compensation plan
: XYZ, a construction company, has recently obtained a large project that requires them to hire 15 experienced welders in Casper, Wyoming. Casper has very few welders locally so XYZ needs to recruit welders who will relocate to Wyoming for the duration..
|