LYRIC DINNER THEATER CASE STUDY Contents 1. Do you think Deborah made a good career decision to take the job of general manager at Lyric? 3 2. Can this business be profitable? If not, why not? If yes, what needs to be done to achieve profitability? 5 3. What specific actions should Deborah take? 9 1. Do you think Deborah made a good career decision to take the job of general manager at Lyric? In my opinion, from a career point of view Deborah made a high risk decision by joining Lyric Dinner Theater. She had just completed her MBA from Harvard Business School in June 2009 and had various job opportunities to choose from; including the US office of an Israeli high-technology equipment firm and a major advertising firm …show more content…
This is important because in the cash system, the outflows are more on need to pay a supplier basis and not what is actually consumed. * For ‘Food Purchased’ and ‘Supplies’, the ratio is considered with Box Office Sales (This will also provide a higher than actual figure, as the actual food costs had reduced in 2010 as a result of the new chef being employed. However, it is done to ensure a conservative basis for calculating profits) * For ‘Liquor Purchased’, the ratio is considered with Liquor & Miscellaneous Sales * It is assumed that ‘Show expenses’ has to be paid immediately – so it is taken as given in the case for YTD February * It is assumed that ‘General Overhead Expenses’ will remain same in 2010, as it was for 2009; and the expenses can be accrued proportionately over 12 months. This is important because in the cash system, the outgoings for items like rent is overstated (in initial months) and for items like depreciation is understated (in initial months) * ‘Other Income’ has been ignored to follow conservative accounting policy and ensure that profits are not overstated (The calculations are in the attached excel sheet.) After
At a young age Julie discovered that she had the God given talent to sing. Ever since then Julie had always aspired to star on Broadway. After high school Julie sprinted at the opportunity to attend Wayne State University; where she received a “full ride” for her intellectual and artistic talents. One year later, Julie decided to transfer to the University of Michigan to be a second generation wolverine. She thrived at the University of Michigan's theater program and graduated with a 4.0 GPA. After graduating she toured the United States performing on stage like she had always dreamed of doing. Broadway bound, she had neglected the advice of her parents to pursue a dual major in theater and teaching.
The current cost system allocates overhead costs once a year, as a function of direct labor dollars. This allocation strategy results in:
Q6: How much production fixed expenses should be allocated to 1 kg of "complete meal"? Give a specific number and your logic to support the
Her biggest challenge that she faced was setting action plans and expectations. She found that her judgmental nature made her somewhat unapproachable. Once she became a Team Manager she had to become more of a hard nose to people that she had built relationships with over the years. She has dove head into developing coaches and site projects to ensure that she retains the title of #1 Manager in the Nation through 2013. Her greatest achievement was claiming this title in 2012. She welcomes feedback from employees and uses that feedback to improve the Salem Center and herself.
The acting throughout this play was phenomenal. It is clear that Davis took her time assembling this group of talented
She is not successful; she didn’t have enough time because she was working both jobs she was trying to manage both but she wasn’t successful. One thing I could of done different from Barbara was to try find better opportunity
All of this led her to join the university as a career coach in summer 2008. Today, she supports the postgraduation pursuits of MBA candidates-lending her mentoring style along the way.
It is important to explain some of the assumptions made in the pro forma statement, as they play a critical part in determining the forecasted revenues. Cost of sales was determined by the equation purchases + other outlays – change in inventory, other outlays = cost of sales. Other Expenses was calculated by adding depreciation costs and four months’ worth of interest, which came to $47,000
I've seen her drive for success an I'm certain she won't give anything but her best. I'm proud to have witnessed her growth an I'm sure she'll encourage more an cultivate an atmosphere of leadership in her role!
In this table, it reflects the changes in fixed plant overhead from $420,000 to $378,000. The company still has the fixed selling and administrative expense per quarter of $118,000. The new company fixed overhead is now at $496,000 from the past $538,000 ($42,000) change from past to
All throughout it, I was learning so much about Billie’s position and it even cleared many of my previous misconceptions in the process. I do find it all very interesting, and I wouldn’t mind pursuing that area of work. Of course, I probably wouldn’t be able to have her specific job since she has the only position in Eastern Oregon and she isn’t planning on retiring for another 27 years. Something I found really fascinating was how Billie always said that she absolutely loves her job and it is the best job in the world. Not only did she say that, but several of her coworkers basically said the same thing about their own positions. It didn’t seem like anyone one there dreaded coming to work, and I thought that was one of the best qualities anyone could ask for in a workplace. In all, I had a great time job shadowing Billie and I feel it was a great learning
Do you think Deborah made a good career decision to take the job of general manager at Lyric?
Barbara has the benefit of knowing what good management looks likes with Betty Nolan her old mentor people /
Lisa is obviously having some problems with her superior Deborah Linton. Linton made it clear she was not fond of Harvard MBA’s right from the beginning, and expressed that her busy schedule at the moment would keep her from having much time for Lisa.
operating expenses were usually excluded and prices were a function of food cost, as well