Essay on Mpc in-Class Activity

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Activity 15 The Bellagio casino and resort is a diverse organisation offering products in a range of areas including gaming, entertainment, conferences, dining and accommodation. Address the following questions in relation to this case: 1. Briefly describe the objective(s), strategy and control problems faced in the organization. Objectives: The Bellagio Hotel and Casino is designed with a wealth of amenities designed to differentiate itself from the competition. Richly appointed rooms and suites, private gaming salons, stunning restaurants and a stunning waterfall display all drive up the cost of doing business but allow the Bellagio to command a higher rate. Strategy: Control problems: 2. Describe contingent factors (as discussed…show more content…
In this case, it assumed university staff would benefit from an increased money, so their view cannot be trusted. It could be right but might be wrong. * Your best course of action is to invest in investment A, as it will earning a higher return than investment B. False dilemma Presenting a limited set of alternatives when there are others that are worth considering in the context. In this case there may be some other investments rather than only investment A and B. * Smoking causes cancer because my father was a smoker and he died of lung cancer. Post hoc X may not be the cause of Y just because X is followed by Y. Activity 17 Reflect on the LEGO experiment during which two of our student groups attempted to profit by producing pre-specified products while managing their costs (If you did not attend seminar in which this was conducted, details of the experiment can be found in the following paper: An ABC simulation focusing on incentives and innovation, available at: http://search.proquest.com.ezproxy.lib.uts.edu.au/docview/210912403?accountid=17095 ) Q1: What are the performance differences between the teams under individual tournament versus group incentive schemes? In our in-class exercise, the tournament incentive was that the best worker within the 3 person team wins; versus the team-based incentive scheme where the best performing team wins. Q2: What may have caused the difference in

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