2) At the Departex Company, the Executive Committee is made up of the CEO Mr. Tsigaridis, the chief technology officer (CTO) Dr. Beaudoin, the chief financial officer (CFO), the vice president of operations, and the vice president of sales. Dr. Beaudoin is approaching 60 years old. He runs the development projects, while his direct report, the vice president of research, Dr. Seekand, runs the research projects. To help keep the research projects on schedule, the Mr. Tsigaridis, who is the Dr. Beaudoin's supervisor, decides to hire help. A new vice president of development, Dr. Pickles is hired. Pickles reports to Dr. Beaudoin. One month after starting at the new job, Dr. Pickles suggests to Dr. Seekand that together they could force their boss, Dr Beaudoin, into retirement. Pickles suggests that together they go to Mr. Tsigaridis, emphasize how Dr. Beaudoin is no longer needed, and ask that the Dr. Beaudoin be forced into retirement and Dr. Seekand be promoted to take Beaudoin's place. All Dr. Pickles asks in return is that he also be allowed to sit in on Executive Committee meetings and that a few members of Dr. Seekand's staff get reorganized to report to Pickles. Dr. Seekand is stunned by the suggestion. a) What ethical dilemmas are taking place? b) Provide a course of action for Dr. Seekand.
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- The eTech Company is a fairly recent entry in the electronic device area. The company competes with Apple. Samsung, and other well-known companies in the manufacturing and sales of personal handheld devices. Although eTech recognizes that it is a niche player and will likely remain so in the foreseeable future, it is trying to increase its current small market share in this huge competitive market. Jim Simons, VP of Production, and Catherine Dolans, VP of Marketing, have been discussing the possible addition of a new product to the companys current (rather limited) product line. The tentative name for this new product is ePlayerX. Jim and Catherine agree that the ePlayerX, which will feature a sleeker design and more memory, is necessary to compete successfully with the big boys, but they are also worried that the ePlayerX could cannibalize sales of their existing productsand that it could even detract from their bottom line. They must eventually decide how much to spend to develop and manufacture the ePlayerX and how aggressively to market it. Depending on these decisions, they must forecast demand for the ePlayerX, as well as sales for their existing products. They also realize that Apple. Samsung, and the other big players are not standing still. These competitors could introduce their own new products, which could have very negative effects on demand for the ePlayerX. The expected timeline for the ePlayerX is that development will take no more than a year to complete and that the product will be introduced in the market a year from now. Jim and Catherine are aware that there are lots of decisions to make and lots of uncertainties involved, but they need to start somewhere. To this end. Jim and Catherine have decided to base their decisions on a planning horizon of four years, including the development year. They realize that the personal handheld device market is very fluid, with updates to existing products occurring almost continuously. However, they believe they can include such considerations into their cost, revenue, and demand estimates, and that a four-year planning horizon makes sense. In addition, they have identified the following problem parameters. (In this first pass, all distinctions are binary: low-end or high-end, small-effect or large-effect, and so on.) In the absence of cannibalization, the sales of existing eTech products are expected to produce year I net revenues of 10 million, and the forecast of the annual increase in net revenues is 2%. The ePIayerX will be developed as either a low-end or a high-end product, with corresponding fixed development costs (1.5 million or 2.5 million), variable manufacturing costs ( 100 or 200). and selling prices (150 or 300). The fixed development cost is incurred now, at the beginning of year I, and the variable cost and selling price are assumed to remain constant throughout the planning horizon. The new product will be marketed either mildly aggressively or very aggressively, with corresponding costs. The costs of a mildly aggressive marketing campaign are 1.5 million in year 1 and 0.5 million annually in years 2 to 4. For a very aggressive campaign, these costs increase to 3.5 million and 1.5 million, respectively. (These marketing costs are not part of the variable cost mentioned in the previous bullet; they are separate.) Depending on whether the ePlayerX is a low-end or high-end produce the level of the ePlayerXs cannibalization rate of existing eTech products will be either low (10%) or high (20%). Each cannibalization rate affects only sales of existing products in years 2 to 4, not year I sales. For example, if the cannibalization rate is 10%, then sales of existing products in each of years 2 to 4 will be 10% below their projected values without cannibalization. A base case forecast of demand for the ePlayerX is that in its first year on the market, year 2, demand will be for 100,000 units, and then demand will increase by 5% annually in years 3 and 4. This base forecast is based on a low-end version of the ePlayerX and mildly aggressive marketing. It will be adjusted for a high-end will product, aggressive marketing, and competitor behavior. The adjustments with no competing product appear in Table 2.3. The adjustments with a competing product appear in Table 2.4. Each adjustment is to demand for the ePlayerX in each of years 2 to 4. For example, if the adjustment is 10%, then demand in each of years 2 to 4 will be 10% lower than it would have been in the base case. Demand and units sold are the samethat is, eTech will produce exactly what its customers demand so that no inventory or backorders will occur. Table 2.3 Demand Adjustments When No Competing Product Is Introduced Table 2.4 Demand Adjustments When a Competing Product Is Introduced Because Jim and Catherine are approaching the day when they will be sharing their plans with other company executives, they have asked you to prepare an Excel spreadsheet model that will answer the many what-if questions they expect to be asked. Specifically, they have asked you to do the following: You should enter all of the given data in an inputs section with clear labeling and appropriate number formatting. If you believe that any explanations are required, you can enter them in text boxes or cell comments. In this section and in the rest of the model, all monetary values (other than the variable cost and the selling price) should be expressed in millions of dollars, and all demands for the ePlayerX should be expressed in thousands of units. You should have a scenario section that contains a 0/1 variable for each of the binary options discussed here. For example, one of these should be 0 if the low-end product is chosen and it should be 1 if the high-end product is chosen. You should have a parameters section that contains the values of the various parameters listed in the case, depending on the values of the 0/1 variables in the previous bullet For example, the fixed development cost will be 1.5 million or 2.5 million depending on whether the 0/1 variable in the previous bullet is 0 or 1, and this can be calculated with a simple IF formula. You can decide how to implement the IF logic for the various parameters. You should have a cash flows section that calculates the annual cash flows for the four-year period. These cash flows include the net revenues from existing products, the marketing costs for ePlayerX, and the net revenues for sales of ePlayerX (To calculate these latter values, it will help to have a row for annual units sold of ePlayerX.) The cash flows should also include depreciation on the fixed development cost, calculated on a straight-line four-year basis (that is. 25% of the cost in each of the four years). Then, these annual revenues/costs should be summed for each year to get net cash flow before taxes, taxes should be calculated using a 32% tax rate, and taxes should be subtracted and depreciation should be added back in to get net cash flows after taxes. (The point is that depreciation is first subtracted, because it is not taxed, but then it is added back in after taxes have been calculated.) You should calculate the company's NPV for the four-year horizon using a discount rate of 10%. You can assume that the fixed development cost is incurred now. so that it is not discounted, and that all other costs and revenues are incurred at the ends of the respective years. You should accompany all of this with a line chart with three series: annual net revenues from existing products; annual marketing costs for ePlayerX; and annual net revenues from sales of ePlayerX. Once all of this is completed. Jim and Catherine will have a powerful tool for presentation purposes. By adjusting the 0/1 scenario variables, their audience will be able to see immediately, both numerically and graphically, the financial consequences of various scenarios.A large CPA firm currently has 100 junior staffmembers and 20 partners. In the long run—say,20 years from now—the firm would like to consistof 130 junior staff members and 20 partners. During a given year, 10% of all partners and 30% ofall junior staff members leave the firm. The firmcan control the number of hires each year and thefraction of junior employees who are promoted topartner each year. Can you develop a personnelstrategy that would meet the CPA firm’s goals?Astrophysics or astromedicine. One of thses specialists will be assigned to each of the ten flights scheduled for the upcoming nine months. Mission specialists are responsible for carrying out scientific and medical experiments in space or for launching and retrieving or repairing satellites. The chief of astronaut personnel, himself a former crew member with three missions under his belt, must decide who shall be assigned and trained for each of the very different missions. Astronauts with medical education are more suited to missions involving biological or medical experiments, whereas those with engineering or physics-oriented degrees are best suited to other missions. The chief assigns each astronaut a rating on a scale of 1 to 10 for each possible mission, with a ten being a perfect match for the task at hand and a 1 being a mismatch. Only one specialist is assigned to each flight, and none is resigned until all others have flown once. A. Who should be assigned to which flight to…
- Astrophysics or astromedicine. One of thses specialists will be assigned to each of the ten flights scheduled for the upcoming nine months. Mission specialists are responsible for carrying out scientific and medical experiments in space or for launching and retrieving or repairing satellites. The chief of astronaut personnel, himself a former crew member with three missions under his belt, must decide who shall be assigned and trained for each of the very different missions. Astronauts with medical education are more suited to missions involving biological or medical experiments, whereas those with engineering or physics-oriented degrees are best suited to other missions. The chief assigns each astronaut a rating on a scale of 1 to 10 for each possible mission, with a ten being a perfect match for the task at hand and a 1 being a mismatch. Only one specialist is assigned to each flight, and none is resigned until all others have flown once. d. What are the strengths and weaknesses of…The Bargain Hut has 2400 cubic feet of storage space for refrigerators. Large refrigerators come in 60-cubic-foot packing crates and small refrigerators come in 40-cubic-foot crates. Large refrigeratorscan be sold for a $250 profit and the smaller ones can be sold for $150 profit. How many of each typeof refrigerator should be sold to maximize profit and what is the maximum profit if:a) If the manager wants to sell at least 50 refrigerators must be sold each month, how many large refrigerators and how many smaller refrigerators should he/she order each month to maximize profit?b) At least 40 refrigerators must be sold each month.A political candidate is planning his media budget for an upcoming election. He has $90,500 to spend. His political consultants have provided him with the following estimates of additional votes as a result of the advertising effort: -for every small sign placed by the roadside, he will garner 20 additional votes. -for every large sign placed by the roadside, he will garner 30 additional votes. -for every thousand bumper stickers placed on cars, he will garner 15 additional votes. -for every hundred personal mailings to voters, he will garner 40 additional votes. -for every radio ad heard, he will garner 485 additional votes. The costs for each of the advertising devices, along with the practical minimum and maximum that should be planned for each, are shown on the following table. How should the candidate plan to spend his campaign money? Advertising Medium Cost Minimum Maximum Bumper stickers (thousands) $30…
- The state firefighters’ association has a membership of 15,000. The purpose of the organization is to provide some financial support to the families of deceased member firefighters and to organize a conference each year bringing together firefighters from all over the state. Annually, members are billed dues and calls. “Calls” are additional funds required to take care of payments made to the families of deceased members. The bookkeeping work for the association is handled by the elected treasurer, Bob Smith, although it is widely known that his wife, Laura, does all of the work. Bob runs unopposed each year at the election, since no one wants to take over the tedious and time consuming job of tracking memberships. Bob is paid a stipend of $8000 per year, but his wife spends well over 20 hours per week on the job. The organization, however, is not happy with their performance. A computer system is used to track the billing and receipt of funds. This system was developed in 1984 by a…The new Chief Operating Officer (COO) of Lee Ching Chemical Company, MaxChing, has found that the firm has been dumping its toxic waste into the local riverfor the last four years and falsifying information to officials about the amounts ofalleged cancer-causing materials in the waste. The plant overseer claims there is noevidence that the waste will cause cancer. Besides, within a hundred kilometersdownriver, there are only a few fishing villages. If the company had to treat thesubstance to neutralize its potentially harmful effects and transport it to a legaldumpsite, the operating costs of the company would rise to a level that could renderthe company uncompetitive. When the organization loses its competitive advantage,five thousand local workers can become unemployed and the economy of that towncould collapse. Question: If you were the COO, what would you do? Why?Riesemberg Medical Devices is allocating next year's budget among its divisions. As a result, the R&D Division needs to determine which R&D projects to fund. Each project requires various software and hardware and consulting expenses, along with internal human resources. A budget allocation of $1,300,000 has been approved, and 35 engineers are available to work on the projects. The R&D group has determined that at most one of projects 11 and 77 should be pursued, and that if project 66 is chosen, then project 11 must also be chosen. Develop a model to select the best projects within the budget.
- Saad has been a manager at Revel Consulting for the past five years. As the business has grown, Saad has taken on more and more responsibilities and is now at the point where he is working on over 10 projects every quarter. Saad’s supervisor, Vance, wants Saad to hire two assistant managers to aid Saad in managing projects; however, while Saad agrees that he is becoming overwhelmed, he fears that additional employees will make completing the projects more difficult, which makes him hesitant to agree with Vance’s plan. Saad appears to be stuck at which step of the motivational process? a. Need b. Motive c. Satisfaction or dissatisfaction d. Feedback 4.Which theory holds that needs are based on personality and are developed and learned as people interact with the environment? a. Acquired needs theory b. Hierarchy of needs theorySuppose a certain manufacturing company produces connecting rods for 4- and 6-cylinder automobile engines using the same production line. The cost required to set up the production line to produce the 4-cylinder connecting rods is $2,200, and the cost required to set up the production line for the 6-cylinder connecting rods is $3,300. Manufacturing costs are $12 for each 4-cylinder connecting rod and $16 for each 6-cylinder connecting rod. Hawkins makes a decision at the end of each week as to which product will be manufactured the following week. If a production changeover is necessary from one week to the next, the weekend is used to reconfigure the production line. Once the line has been set up, the weekly production capacities are 6,000 6-cylinder connecting rods and 8,000 4-cylinder connecting rods. Let x4 = the number of 4-cylinder connecting rods produced next week x6 = the number of 6-cylinder connecting rods produced next week s4 = 1 if the production line is set up to…Quality Consulting has two consultants, Alfred and Barbara that can be scheduled to work for clients up to a maximum of 170 hours each over the next four weeks. A third consultant, Charlie, has some administrative assignments already planned and is available for clients up to a maximum of 150 hours over the next four weeks. The company has four clients with projects in process. The estimated hourly requirements for each of the clients over the four- week period are: Client Hours A: 180 B: 75 C: 100 D: 85 Hourly rates vary for the consultant-client combination and are based on several factors, including project type and the consultant’s experience. The rates (dollars per hour) for each consultant-client combination are as follows: Client Consultant A B C D Alfred 100 125 115 100 Barbara 120 135 115 120 Charlie 155 150 140 130 1) Develop a network…