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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?
Explain work breakdown structure. Why do resource constraints affect project results?
Research at least five areas of publicly available information (such as the Dow Jones or top search engine results) that help to establish the health and public image of a company. Propose a web-based information system that will interface with th..
Consider an organization with which you have been affiliated as an employee or a member, such as a business, church, sorority, and the like. Provide a short overview.
ABC company hired Andrew as its research director. The terms of the employment contract is five years. As ABC knows at the moment of signing, Andrew is terminally ill when the contract is created, and is not expected to live more than nine months. Mu..
Your sales and costs figures should be split into external sales and inter-divisional transfers, where appropriate
Timbuk2 Inc. manufactures over 100,000 different versions of messenger bags. Suppose Timbuk2 implements an order-up-to model to manage its inventory of a particular plastic buckle. The lead time to receive these buckles is three weeks. What is the or..
One global company that found itself in trouble in the 2000s because of the way its structure and control systems were working was pharmaceutical maker Schering- Plough. In 2003, Schering was under pressures from many fronts. What kinds of problems w..
For each scenario in the below table, run 30 simulations and report the overall mean service level and the estimated total cost. Does this new reorder point achieve the desired service level of .9? If so, which scenario would you recommend
1. develop an idea for a new business and conduct a feasibility analysis. please be as creative as you like in the
the decision to close a project before actual completion can happen for many different reasons. describe a project you
Explain the concept of value of perfect information in decision analysis. Give a real world example where the value of perfect information will be useful to a decision maker.
Apply the industrial organization model and the resource-based model to determine how your corporation could earn above-average returns.
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