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MGMT 530 Education Redefined / snaptutorial.com

For more classes visit<br>www.snaptutorial.com<br><br>MGMT 530 Week 1 Case Analysis (Conference Decision)<br>MGMT 530 Week 1 DQ 1 Defining the Problem<br>

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MGMT 530 Education Redefined / snaptutorial.com

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  1. MGMT 530 Entire Course , Midterm and Final Exam For more classes visit www.snaptutorial.com MGMT 530 Week 1 Case Analysis (Conference Decision) MGMT 530 Week 1 DQ 1 Defining the Problem MGMT 530 Week 1 DQ 2 Enabling Conditions MGMT 530 Week 2 Case Analysis (Conference Decision) MGMT 530 Week 2 DQ 1 Defining Objectives and Alternatives MGMT 530 Week 2 DQ 2 Intuition MGMT 530 Week 3 Case Analysis Conference Decision Case, Part 2 MGMT 530 Week 3 DQ 1 Understanding Consequences and Tradeoffs MGMT 530 Week 3 DQ 2 Decision Making in Your Organization MGMT 530 Week 4 DQ 1 Defining Uncertainties MGMT 530 Week 4 DQ 2 Decision Making Styles MGMT 530 Week 5 Case Analysis Labadee Decision MGMT 530 Week 5 DQ 1 Risk Tolerance MGMT 530 Week 5 DQ 2 Sharing Risk with Partners MGMT 530 Week 6 DQ 1 Linked Decisions MGMT 530 Week 6 DQ 2 Course Project Presentations MGMT 530 Week 7 Course Project (US Foods) MGMT 530 Week 7 DQ 1 Psychological Traps MGMT 530 Week 7 DQ 2 Estate Case Analysis MGMT 530 Week 4 Midterm Exam MGMT 530 Final Exam ***************************************

  2. MGMT 530 Entire Course For more classes visit www.snaptutorial.com MGMT 530 Week 1 Case Analysis (Conference Decision) MGMT 530 Week 1 DQ 1 Defining the Problem MGMT 530 Week 1 DQ 2 Enabling Conditions MGMT 530 Week 2 Case Analysis (Conference Decision) MGMT 530 Week 2 DQ 1 Defining Objectives and Alternatives MGMT 530 Week 2 DQ 2 Intuition MGMT 530 Week 3 Case Analysis Conference Decision Case, Part 2 MGMT 530 Week 3 DQ 1 Understanding Consequences and Tradeoffs MGMT 530 Week 3 DQ 2 Decision Making in Your Organization MGMT 530 Week 4 DQ 1 Defining Uncertainties MGMT 530 Week 4 DQ 2 Decision Making Styles MGMT 530 Week 5 Case Analysis Labadee Decision MGMT 530 Week 5 DQ 1 Risk Tolerance MGMT 530 Week 5 DQ 2 Sharing Risk with Partners MGMT 530 Week 6 DQ 1 Linked Decisions MGMT 530 Week 6 DQ 2 Course Project Presentations MGMT 530 Week 7 Course Project (US Foods) MGMT 530 Week 7 DQ 1 Psychological Traps MGMT 530 Week 7 DQ 2 Estate Case Analysis ***************************************

  3. MGMT 530 Final Exam For more classes visit www.snaptutorial.com (TCOs A, B, C, D, E, F, G and H) Tidewater Services recently celebrated its 10th anniversary as a professional services firm that handles investigations for law firms offering amenities, such as background checks, surveillance, interviewing of witnesses, crash scene investigation, and other related services. The company was founded by Lee Herbert who had extensive experience working for companies that handle investigative work. Herbert is more of a people person and is always looking for the next new client to take on. Admittedly, Herbert had no experience in running a business when he decided to go out on his own and enlisted the help of his long time friend, Bradley Simmons. Simmons has spent his career working for larger corporations in finance and had no experience in investigative services, but was looking for a change. Over the 10 years since the company’s founding, Tidewater Services struggled at first but slowly grew over the last five years. The more law firms the company works with, the more cases they receive. The more cases they receive, the more hours they can bill. Tidewater currently has six investigators and two clerks in addition to Herbert and Simmons. Over the years, they have expanded and contracted based on the volume of business and the local economy. Based in Norfolk, Virginia, Herbert is really interested in expanding the business to other major cities in the region, believing that ―there are only so many law firms here in Norfolk.‖ He feels that if they’ve survived 10

  4. years, then they should continue to focus on growing the business. Simmons, on the other hand, feels that expansion will put the company at risk as it takes time to develop a decent client base. They had opened a second office several years back across town but eventually closed it when it didn’t generate enough revenue to cover expenses. He’s worried the expansion may bankrupt the company. Even though the two are business partners, Herbert is the president and Simmons the vice president. Herbert asked Simmons to evaluate several options to further expand the business. From Herbert’s perspective, he has concluded that three objectives are important in this decision. First, is to find a city with a large number of Fortune 500 companies, a cost of living comparable to Norfolk, and a city that is in a reasonable distance from Norfolk as he and Simmons would be spending a lot of time in the new office at first. Because both have families with young children, Herbert feels that the distance is twice as important as the other criteria. Here is the summary of Simmons’ research. I. Richmond, Virginia: Number of Fortune 500 Companies: 5; Cost of Living Comparison: 0.934 (less than Norfolk); Driving Distance: 81 miles II. Charlotte, North Carolina: Number of Fortune 500 Companies: 7; Cost of Living Comparison: 0.834 (less than Norfolk); Driving Distance: 283 miles III. Atlanta, Georgia: Number of Fortune 500 Companies: 10; Cost of Living Comparison: 0.854 (less than Norfolk); Driving Distance: 503 miles Question 1. Define the decision problem and the general nature of the problem. (20 Points) Question 2. What event triggered Question 3. Are we imposing any implied constraints on the situation Question 4. Define the objectives Question 5. Identify the alternatives

  5. Question 6. Compare and contrast the consequences for all three alternatives by the fundamental objectives. Rank each alternative using proportional scoring, include weights on the objectives. Are there any dominated alternatives that can be eliminated? Are there any even swaps. Question 7. What decision-making styles are at work here? What is their attitude towards risk? Question 8. Are there any biases in play here that may impact the effectiveness of the decision? Question 9. What are the uncertainties for this decision situation? What are their consequences? Question 10. Evaluate this decision situation using tradeoffs. What location should they select? Are there any linked decisions? Discuss any assumptions as needed. *************************************** MGMT 530 Week 1 Case Analysis (Conference Decision) For more classes visit www.snaptutorial.com Week 1 Case Analysis: Conference Decision Case

  6. Date: September 2, 2005 In less than two weeks, an accounting system user’s conference is scheduled to be held in New Orleans, Louisiana on September 13–16, 2005. Unfortunately, Hurricane Katrina has struck the city leaving a wake of destruction. Based on what you see on television, the hotel and the city cannot possibly accommodate this or any conference for the foreseeable future. Approximately 200 attendees are scheduled to attend, flying in from all over the country. All attendees prepaid their registration fee for the conference. With a lot of competition in the marketplace, getting the users to participate in the annual user’s conference is critical to retain current customers. During the conference, several product enhancement ideas are developed by the users, and this input is often used in future releases of the product. Potential new customers are invited to the event, and their involvement often leads to securing new contracts for the accounting system as they gain confidence in the system, seeing others use it. As head of the group that puts on the conference, you are faced with making a determination of what to do with this year’s conference. You are getting calls from the registered attendees asking what to do. Senior management feels that the conference is critical to ensure continued customer engagement and fears that cancelling the conference altogether will lose the momentum the company has developed over the past few years. Other considerations: Keeping the original dates and moving to a different city may drastically increase costs due to the short advanced notice. Will people cancel because of the higher hotel costs? If the date is changed, will the speakers and attendees still be able to attend? Having worked with the local Convention & Visitor’s Bureau and the hotel, you worry about how their businesses will survive with all of this destruction and wonder what you can do to help.

  7. For this week’s Case Analysis: 1. Define the decision problem. 2. As part of defining the decision problem, the following questions should be addressed. oWhat is the general nature of the problem? oWhat event triggered the situation? oAre we imposing any constraints on the situation? oWhat are the underlying elements of the problem? oAre there dependencies on other decisions? Submit your definition of the problem in a MS Word document to the Week 1 Case Analysis Dropbox. Input your responses in the template found here. This document is also posted in the Doc Sharing tab. *************************************** MGMT 530 Week 1 DQ 1 Defining the Problem For more classes visit www.snaptutorial.com What is the difference between problem solving and decision making? What are the key aspects to defining the problem for a decision situation? Give an example of a decision problem that you are currently dealing with .***************************************

  8. MGMT 530 Week 1 DQ 2 Enabling Conditions For more classes visit www.snaptutorial.com What role does ability, willingness, insight, and commitment play in the decision-making process? How can constraints and other underlying elements complicate the decision-making process? Relate an experience from your work.with. *************************************** MGMT 530 Week 2 Case Analysis (Conference For more classes visit www.snaptutorial.com Week 2 Case Analysis: Conference Decision Case Date: September 2, 2005 In less than two weeks, an accounting system user’s conference is scheduled to be held in New Orleans, Louisiana on September 13–16, 2005. Unfortunately, Hurricane Katrina has struck the city leaving a

  9. wake of destruction. Based on what you see on television, the hotel and the city cannot possibly accommodate this or any conference for the foreseeable future. Approximately 200 attendees are scheduled to attend, flying in from all over the country. All attendees pre-paid their registration fee for the conference. With a lot of competition in the marketplace, getting the users to participate in the annual user’s conference is critical to retain current customers. During the conference, several product enhancement ideas are developed by the users, and this input is often used in future releases of the product. Potential new customers are invited to the event and their involvement often leads to securing new contracts for the accounting system as they gain confidence in the system seeing others use it. As head of the group that puts on the conference, you are faced with making a determination of what to do with this year’s conference. You are getting calls from the registered attendees asking what to do. Senior management feels that the conference is critical to ensure continued customer engagement and fears that cancelling the conference altogether, the company will lose the momentum it has developed over the past few years. Other considerations: Keeping the original dates and moving to a different city may drastically increase costs due to the short advanced notice. Will people cancel because of the higher hotel costs? If the date is changed, will the speakers and attendees still be able to attend? Having worked with the local Convention & Visitor’s Bureau and the hotel, you worry about how their businesses will survive with all of this destruction and wonder what you can do to help. Using the same information from last week’s Case Analysis, build on the work you did last week by identifying the following.

  10. 1.Define the objectives for the Conference Decision Case. The objectives should be separated into fundamental and means objectives. 2.Identify the alternatives for the case. For additional resources pertaining to this assignment, please review the Decision Making Drag and Drop Interactive found under the Week 2 Lecture tab. Additionally, an Overview of Decision Making Objectives can be found here. An example utilizing fundamental and means objectives can be found here. These documents can also be found in the Doc Sharing tab. Submit your definition of the problem in a MS Word document to the Week 2 Case Analysis Dropbox. Input your responses in the template found here. This document is also posted in the Doc Sharing tab. *************************************** MGMT 530 Week 2 DQ 1 Defining Objectives and Alternatives For more classes visit www.snaptutorial.com Why is it important to define clear objectives for the decision situation? How can you ensure that you have identified all the appropriate alternatives? Give an example of a problem that you are in the process of deciding or have decided on in the past—identify the objectives and alternatives.

  11. We will be looking at two key decision-making elements, which are objectives and alternatives. The objectives will determine the criteria for evaluating solutions to the defined problem. The alternatives for a decision situation are the options that need to be considered. Let us kick off the week by answering the following questions. When relating objectives to decisions, is it fair to say that the clearest objectives lead to the easiest decisions? *************************************** MGMT 530 Week 2 DQ 2 Intuition For more classes visit www.snaptutorial.com What role does intuition play in decision making? What role does quantitative data play in decision making? Identify a decision situation in which you used both intuition and data for your analysis of the situation. For the second discussion, we will analyze the role that intuition plays in the decision-making process. OK, I would like to get this politically incorrect idea out of the way from the start ... As you begin to participate in this topic, please consider and

  12. share your position on whether you believe intuition is more of a female skill and data analysis more of a male skill? *************************************** MGMT 530 Week 3 Case Analysis Conference Decision Case, Part 2 For more classes visit www.snaptutorial.com Date: September 15, 2005 Two weeks after New Orleans was devastated by Hurricane Katrina, you made the decision to postpone the conference and select a different city to hold the conference. Based on your initial objectives and a survey you took of the registered attendees, you created the following consequence table based on the information available. ALTERNATIVES Cancel conference for this year— schedule for next year hotels re-open) O B J management Orleans will be Keep in New Orleans, but schedule for a later date (when the Move to another city and schedule for a later date Meets objective. In a survey of attendees, Keep same dates, but move to another city Does not meet objective. Senior Does not meet objective. Uncertainty on when New Does not meet objective. Cost and logistics of Maximize attendance

  13. E C T I V E S stated that cancelling is not an option. back in business is too far off. finding a new location and getting attendees to change flights with such short notice is cost prohibitive. they would be willing to look at a new date in October and were most interested in Las Vegas, Chicago, or New York as alternative sites. Does not meet objective. Conference would lose money and incur additional costs for last minute scheduling. Meets objective. A preliminary survey shows that costs would be similar to current budget. Does not meet objective. Refunding registration fees would cause a loss for conference. Does not meet objective. Because of uncertainty with city, the registration fees would need to be refunded. Keep conference costs at current level From the survey, you found out that the attendees were willing to still come to the conference and suggested three cities as possible new locations for this year’s event. 1.Chicago 2.Las Vegas 3.New York City As you move forward in locating available hotels and conference facilities, you formulate the following objectives to select which cities will be best to hold the rescheduled conference.

  14. Airfare (the estimated average round trip cost of the attendees) Hotel Room Rate (the nightly rate the attendees will pay during the conference) Conference Costs (the costs you will incur for meeting facilities, reception, registration, etc.) Survey Response (you want to factor in how the cities were ranked based on the survey you conducted.) Because the budget is tight, you feel that the Conference Cost objective is twice as important as the other three objectives. Based on your research, here is the information you gathered on the cities the user group was interested in. New Orleans (Not applicable, but used to compare original costs of conference) Average Airfare: $300 to $400 (Round trip cost per person) Hotel Room Rate: $149.00 (Conference rate per room per night) Conference Costs: $16,000 (Meeting rooms, reception, refreshments, registration materials, etc.) Survey Rank Not Applicable Chicago Average Airfare: $200 to $300 (Round trip cost per person) Hotel Room Rate: $149.00 (Conference rate per room per night) Conference Costs: $25,000 (Meeting rooms, reception, refreshments, registration materials, etc.) Survey Rank 1 New York Average Airfare: $300 to $400 (Round trip cost per person) Hotel Room Rate: $349.00 (Conference rate per room per night) Conference Costs: $20,000 (Meeting rooms, reception, refreshments, registration materials, etc.) Survey Rank 2 Las Vegas Average Airfare: $200 to $300 (Round trip cost per person) Hotel Room Rate: $169.00 (Conference rate per room per night) Conference Costs: $15,000 (Meeting rooms, reception,

  15. refreshments, registration materials, etc.) Survey Rank 3 Using this information, create the following. A consequence table A weighted scoring model Are there any dominated alternatives that can be eliminated? Are there any even swaps? For additional resources pertaining to this assignment, please review the Building a Weighted Scoring Model Video found under the Week 3 Lecture Tab and the Conference Decision Case, Part 2 Video below. A weighted scoring example is located in Doc Sharing under the name Sample Decision Problem. Submit your definition of the problem in a MS Word document to the Week 3 Case Analysis Dropbox. Input your responses in the template found here. This document is also available in the Doc Sharing tab. *************************************** MGMT 530 Week 3 DQ 1 Understanding Consequences and Tradeoffs For more classes visit www.snaptutorial.com Why can it be difficult to identify consequences for each alternative and objective? What techniques can be used to simplify the process? Describe a decision situation in which you made tradeoffs to simplify the alternatives. Did you use the even-swap method, weighted scoring model, or another approach?

  16. Our objectives this week are to: Build a consequence table with accuracy and completeness. Compare alternatives using a consequence table. Evaluate alternatives by examining tradeoffs. Evaluate alternatives by using a weighted scoring model. Concepts covered this week will help you as you develop alternatives for your course project. Please start by answering the main question. Would you say that past experiences are only loosely good predictors of future outcomes ....why? *************************************** MGMT 530 Week 3 DQ 2 Decision Making in Your Organization For more classes visit www.snaptutorial.com What process does your organization use to make decisions? Do you clearly identify the problem, objectives, alternatives, consequences, and tradeoffs? What special techniques or tools do you use in your process?

  17. In your organizations, what is the general balance of quantitative and qualitative information used to make decisions? Too much of one or the other *************************************** MGMT 530 Week 4 DQ 1 Defining Uncertainties For more classes visit www.snapttorial.com How does your organization assess uncertainties in your decision- making process? What are the benefits to using decision trees to assess uncertainties? Provide an example where uncertainties played a major role in a decision situation. In the context of uncertainty, is there a difference between 'possibility' and 'probability'? *************************************** MGMT 530 Week 4 DQ 2 Decision Making Styles For more classes visit www.snaptutorial.com

  18. What is your primary decision-making style? What is your manager’s primary decision-making style? What approaches and tricks have you learned to persuade your manager? *************************************** MGMT 530 Week 4 Midterm Exam For more classes visit www.snaptutorial.com 1. (TCO A) Your small services company has outgrown the current facility after the first two years of a three-year lease. As the operations manager, you are being held accountable for cancelling orders, and you are beginning to lose market share due to late deliveries. The goal is to determine what action to take in the future to improve the situation and restore sales. i. What criteria should have been used in the decision-making process that could have avoided the current situation? ii. Describe the eight elements for effective decision making used in a rational decision-making approach, and describe how it could have been applied seeing this potential crisis in advance. 2. TCO A) Understanding fundamental and means objectives are important to decision analysis and decision making. As your business has grown, you are evaluating moving your company to a larger office closer to several of your key customers and are looking at several

  19. different alternatives. i. Identify your fundamental objectives. ii. How would those objectives be used in the decision-making process? iii. Identify your means objectives. iv. How would the means objectives be used in the decision-making process 3. (TCO A) Robin Griffith, Business Manager for Clark Investments, is considering three new office locations. In trying to decide which location is the best overall for the company, Robin has concluded that three criteria are important in this decision. First, of course, is to have a location in close proximity to key corporate customers. This objective is most important, twice as important as each of the other two criteria. The second criterion is to have a location with excellent tenant satisfaction. The third criterion is for the facility to have additional space to expand into. The second and third criteria are equally important. Here is a summary of each of the locations: 1) Shady Pines: 7 corporate accounts within five miles; scored an 80 satisfied/highly satisfied in recent tenant satisfaction poll; 1,000 additional square feet available in the event of a need to expand further. 2) Via Angelina: 5 corporate accounts within five miles; scored an 85 satisfied/highly satisfied in recent tenant satisfaction poll; 2,000 additional square feet available in the event of a need to expand further. 3) The Mercado: 4 corporate accounts within five miles; scored a 75 satisfied/highly satisfied in recent tenant satisfaction poll; no additional space available. (a) What is Robin’s problem or opportunity in this situation? (b) What is the overall objective for Robin’s decision? What are the fundamental objectives that support the overall objective? (c) What are Robin’s alternatives for this decision situation? (d) Evaluate this decision situation using tradeoffs or a weighted scoring model. Based on that analysis, to which location should Robin select? 4. TCO B) Utilizing intuitive thinking in today’s business environment is a must according to research and practical experience. i. Why is intuition important to managers today, and how reliable is it in decision making?

  20. ii. Develop three approaches for improving one’s intuition to enable better decision making. *************************************** MGMT 530 Week 5 Case Analysis Labadee Decision For more classes visit www.snaptutorial.com In January 2010, the island nation of Haiti was devastated by an earthquake. Royal Caribbean International, a major cruise line, owns a private beach in Haiti, which is typically a port of call on several of their Caribbean cruise itineraries. The private port, known as Labadee, is about 80 miles away from Port au Prince. The beach was unaffected by the quake. In the days following the earthquake, the company wrestled with several issues as they determined whether to continue to stop in Labadee or temporarily abandon the port of call. Their objectives would be to 1) ensure guest satisfaction; 2) protect the brand; and 3) maximize profitability. Some of the consequences they considered as they tried to determine whether the cruise line should continue to make a stop in Haiti in the midst of this crisis are as follows.

  21. Will cruise passengers be interested in relaxing on a beach when hundreds of thousands are homeless and hungry just 80 miles away? Could this impact new reservations or cause people to cancel? Based on research and consulting with others, you believe there will be minimal impact. Because the community near the beach depends financially on the cruise line for income, would suspending the stop in Haiti make the country worse off? Based on your analysis, there is a high likelihood that the area would be negatively impacted if the line pulled out of Labadee. How would the media respond? Would they get bad press for continuing to stop in Haiti and be perceived as profiting in the midst of this tragedy, or will the public perception be worse if they suspend sailing to Haiti during this crisis? You determine that there is a higher chance that the company would get bad press if the company suspended services than if they continued to include it on itineraries. Using a risk profile such as the one below, define the uncertainties and make the recommendation for a decision for the Labadee Case. For additional resources pertaining to this assignment, please review the How to Draw a Simple Decision Tree Video found under the Week 5 Lecture tab, the Developing a Decision Tree Video found under the Week 4 Lecture tab, and the Labadee Decision Video below. Submit your definition of the problem in a MS Word document to the Week 5 Case Analysis Dropbox. Input your responses in the template found here. This document is also available in the Doc Sharing tab. *************************************** MGMT 530 Week 5 DQ 1 Risk Tolerance

  22. For more classes visit www.snaptutorial.com Describe your risk profile—risk seeking, risk neutral, or risk averse. What are the pitfalls of your risk attitude? How can knowing your manager’s desirability curve come in handy during the decision-making process? *************************************** MGMT 530 Week 5 DQ 2 Sharing Risk with Partners For more classes visit www.snaptutorial.com Describe a decision situation in which you have shared risk with an internal or external business partner. What were the conditions of the shared risk? Explain why the arrangement was successful or not. Is ―blame‖ a risk-mitigator or risk-enhancer? *************************************** MGMT 530 Week 6 DQ 1 Linked Decisions

  23. For more classes visit www.snaptutorial.com Describe a decision situation that involved linked decisions. What flexible plans did you use for the subsequent decision? *************************************** MGMT 530 Week 6 DQ 2 Course Project Presentations For more classes visit www.snaptutorial.com Briefly describe your problem and post a brief PowerPoint presentation that summarizes your Course Project no later than Tuesday. Give feedback to (at least) two other students’ presentations for your remaining posts. Be sure to post on a total of three different days *************************************** MGMT 530 Week 7 Course Project (US Foods)

  24. For more classes visit www.snaptutorial.com The objective of the Course Project is to provide you with practice in creating, justifying, and explaining a decision-making proposal. All elements involved in the creation of this proposal, from problem definition through action plan, must be covered. Further, the proposal, as constructed, must meet the tests of any sound business plan, namely that it has specific and measurable goals and objectives, clearly defined activities, stipulated time frames during which those activities will take place, and clearly defined measurable outcomes. The subject matter of your paper should be business-oriented in nature and should avoid decisions that depend largely on intuition to solve. Although the length of the paper is not predetermined, a 10–15 page analysis, including data and appendices, is probably correct. You will also share a summary PowerPoint presentation with fellow students during the Week 6 Discussion. The Final Course Project Proposal with the PowerPoint presentation is due by the end of Week 7 (graded). Required Outline The following outline is required for your Course Project. Executive Summary (less than one page) This summary is a short, carefully worded description of the problem situation that identifies the recommended solution. A brief justification and explanation of the selection method is to be included, highlighting factors that contributed to selecting the recommended alternative.

  25. Decision Problem Overview Describe the nature and scope of the decision problem selected, its history together with causes, and the outcomes of any previous attempts to deal with it. In order to define the problem correctly, the following questions should be addressed. · What is the general nature of the problem? · What event triggered the situation? · Are we imposing any constraints on the situation? · What are the underlying elements of the problem? · Are there dependencies on other decisions? Briefly introduce the key decision elements—objectives, alternatives, consequences, and uncertainties; details are to be discussed in the following sections. Objectives Statement Explain each objective in detail. Separate objectives into fundamental and means objectives. A minimum of three objectives is required. Alternatives Describe each alternative, and explain how the alternatives differ from one another. A minimum of three alternatives is required. Selection Describe the alternative recommended and why. Explain the tradeoffs you utilized or present a weighted scoring model. Explain why you feel that this report contains sufficient information to make a decision on the problem. Describe any additional information that would be useful to have.

  26. Consequences Explain how you determined the values for each alternative and their corresponding objectives. Show your consequence table, either in this section or as an appendix. Include the bases for forecasts and any techniques or tools used to estimate consequences. Discuss the reliability of your predictions. Indicate what events were considered to be uncertain, explain the probabilities of their occurrence, and what information you used to establish your confidence level in these probabilities. A minimum of two uncertainties is required for the paper. Implementation, Monitoring, and Control This section contains a detailed implementation plan. There will be an explanation of how the recommended alternative will be implemented, resources dedicated to accomplishing it, and key individuals who will be responsible for the plan’s success. Details should be included on how the plan will be monitored, subsequent evaluation criteria, and how the plan can be amended. Works Cited (at least two external sources should be used) Presentation Once you have outlined your paper, you should be ready to begin a PowerPoint presentation. As you develop the contents of the sections in your paper, you should extract bullet-point ideas that best express your intended message. If you prefer, use the slides to brainstorm and organize your thoughts before writing the paper. Then refer to your presentation to guide and remind you of the flow of your storyline.

  27. The presentation will be used to showcase your decision problem in one of the Week 6 Discussion topics, where you will receive feedback from your fellow students. This exercise will assist you in finalizing your Course Project prior to submission at the end of Week 7. A recommended Course Project template can be found here . This document is also posted in the Doc Sharing tab. *************************************** MGMT 530 Week 7 DQ 1 Psychological Traps For more classes visit www.snaptutorial.com Provide a real-life example of one of the traps discussed in the text or the lecture. What can be done to avoid that trap in the future? An interesting human phenomenon is becoming trapped in one's own imagination of self. It is, of course, very important to manage one's reputation by comparing and reconciling how others see you with how you see yourself and want others to see you. Is there a way to protect one's integrity and remain consistent, yet also be flexible and adaptable to change and growth? *************************************** MGMT 530 Week 7 DQ 2 Estate Case Analysis

  28. For more classes visit www.snaptutorial.com This week, we move from the theoretical to the real world. The following group decision problem scenario is outside of the formal organizational structure but highlights the difficulty in making decisions in group settings and the need to collectively arrive at a group decision- making process. Estate Case Decision Problem Scenario The matriarch of a family passes away after a long illness, leaving a house that needs major repair work, a few antiques, and a small insurance policy. In her Will, she bequeaths everything equally to her three grown children (two sons and a daughter), but leaves no instructions on how to go about the disbursement of the estate. The three children have drifted apart over the years and are not very close, but are cordial to one another. The eldest son, who lives locally, is named the executor of the Will. He is somewhat resentful that he served as the primary caregiver of the matriarch and the others were less involved. The other two don't get along very well. The son that is the executor is not sure what to do, but would like to hang on to the house for a while until the real estate market improves and eventually try to sell it for more money than it is worth today. The daughter thinks that the house should be fixed up with the insurance

  29. money and then sold immediately. The other son thinks that the house should be sold as is and to not put any more money into it, splitting the insurance money between the three. In summary, the facts are as follows. Objectives Objective 1—Achieve the highest sale price (twice as important as the other objectives) Objective 2—Keep reinvestment in repair and maintenance in house at a minimum Objective 3—Complete transaction in the shortest period of time Alternatives Alternative 1—Sell the house as is. The real estate agent feels that the house would sell for $79,000 and could likely sell the house in approximately one month. No money would be put into fixing up the house. Alternative 2—Fix up the house, and then sell. The real estate agent feels that the house would sell for $96,000 and could likely sell the house in approximately three months. Approximately $15,000 would be put into fixing the house. Alternative 3—Wait until the market improves, then fix up and sell. The real estate agent feels that the house would sell for $120,000 if the market improved, but it would take at least one year. Approximately $15,000 would be put into fixing the house and another $5,000 for ongoing maintenance and upkeep. Based on the facts described, address the following. 1.What is the general nature of the problem? 2.What event triggered the situation?

  30. 3.Are we imposing any constraints on the situation? 4.What are the underlying elements of the problem? 5.Are there dependencies on other decisions? 6.What are the consequences and tradeoffs? 7.What group decision-making dynamics are in play here? 8.Based on a weighted scoring model, which would be the best alternative (show your work)? ***************************************

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