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What is "bounded rationality"? Arthur suggests that decision makers conceive and nurture an "ecology of focal predictors" to deal with complexity of the unknown. Explain Arthur's ideas using the following scenario: Forecast the Dow Jones Average for the close of market trading on this day in one year from the current date. Would you put your entire life savings on your forecast? Allow a 5% margin of error to your forecast. Do you feel more confident in your forecast? Why? What if you do put your life savings on this and you are wrong?
Bubba is a sales representative for Shrimp Boats R Us company, which is a prospective seller of shrimp boats for your project. Bubba has offered you a great end-of-the year deal that is substantially below the current prices for the desired boats. Ot..
Discuss the importance of capacity planning in deciding on the number of police officers or fire trucks to have on duty at a given time.
A manager just received a new price list from a supplier. It will now cost $1.00 a box for order quantities of 801 or more boxes, $1.10 a box for 200 to 800 boxes, and $1.20 a box for smaller quantities. Ordering cost is $80 per order and carrying co..
for this assignment you will continue to reflect on what it takes to create innovation architecture to support a
Evaluate whether or not Shangri-La Hotels heavy investment in employee development yields a profitable return to the company.
How would you describe logistics in your organization. Describe the nature of the process and how it is used to deliver a service or product to your customer
The Mycron Company produces three electrical products-clocks, radios, and toasters. These products have the following resource requirements: Formulate and solve a linear programming model for this problem.
Draft a memo explaining to your warehouse managers how effective supply chain design could help to enhance profitability and stakeholder value for the company, including the following
Projects often cross many functional boundaries, with team members reporting to different functional managers. This cross-functional aspect can create problems with roles and responsibilities. You decide to use an RACI to help with this situation. Yo..
Pay for performance is just as important in non-for-profit organizations. Assume you are founder of a non-profit public charity of your choice. Create a compensation program that will link pay to the performance of your employees.
Provide 3 examples of inventory control systems tools. Explain what these tools are and how they are used.
Suppose Park Hyatt wishes to maximize expected profit rather than expected revenue. Illustrate what is optimal protection level for full fare.
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