ABCar Co is a new type of car company. They hire various subcontractors namely DesignCar Ltd., who designs the cars, ManuCar Inc., who manufactures the vehicles, and TestCar Co., who tests the cars before they are put into full production. Recently, ABCar Co has received many complaints about the failure of the braking system. There is a dispute between ABCar Co, DesignCar Ltd., ManuCar Inc., and TestCar Co. as to who is responsible for the problem and who must bear the cost to fix it. Referring to the dispute resolution mechanisms you explained in question 3 (a) (you don't need to reproduce the information), which dispute resolution mechanism would you select to resolve this dispute and why would you select it? Why would you reject the other ones?

ABCar Co is a new type of car company. They hire various subcontractors namely DesignCar Ltd., who designs the cars, ManuCar Inc., who manufactures the vehicles, and TestCar Co., who tests the cars before they are put into full production. Recently, ABCar Co has received many complaints about the failure of the braking system. There is a dispute between ABCar Co, DesignCar Ltd., ManuCar Inc., and TestCar Co. as to who is responsible for the problem and who must bear the cost to fix it. Referring to the dispute resolution mechanisms you explained in question 3 (a) (you don't need to reproduce the information), which dispute resolution mechanism would you select to resolve this dispute and why would you select it? Why would you reject the other ones?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter11: Simulation Models

Section: Chapter Questions

Problem 69P: The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon...

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The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.
The following information assumes that the CFA Institute Code of Ethics and Standards are applicable. Maria has recently joined the LLT group. Today a client approaches Maria for some investment advices on how to accumulate his personal wealth. Lenora, who is Maria’s supervisor, just walks past and overhears their conversation. Lenora asks Maria to convince the client to invest in a private equity fund. Maria has a different thought and believes the private equity fund could be too risky for the client. However, she wants to receive a good evaluation from the supervisor and hence she recommends the client to invest in the private equity fund for a good return. You are required to establish what is unethical and which Standard is most likely violated.
: You are employed by Univeristy of Gujrat , a university that provides a range of training and education, including Computing, and Information & Communication Technology (ITC). The Head of Department of ITC, Mr Rumi, has discovered that on more than one occasion recently a computer virus has been introduced to the computers in the department. He thinks that the viruses have been introduced from computer disks brought in by students. He has decided to introduce a system where all disks used in the department must be checked for a virus before they can be put into the computers. He says to you, I would like you to send a memo in my name to all teachers who use the computer rooms. You will have to tell them that all disks brought in by students must be checked before there are used. The teachers have to check them carefully, of course. We have got to stop these viruses being introduced before they cause serious problems. Oh yes, reminds them to lock up the rooms when they leave.…
Asma is a junior management accountant at Flower Cloth Ltd. Asma is given the task of compiling a cost-benefit analysis report on whether the company should purchase an expensive new machine from Radi Ltd, where her brother is the new sales manager. Asma did not tell anyone in Flower Cloth about her brother’s new job. In preparing her report, Asma overstates the qualitative benefits and understates the costs associated with this new machine to help her brother make his first sales as the new sales manager. Required: Discuss why and how Asma has deviated from the standards of ethical conduct.