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Background Information Just over a year after Peter hired David Randle to supervise the Pricing Unit Department of Republic Insurance's Strategic Management Division, he was faced with a number of problems. The initial period of smooth sailing had dete- rioriated as revelations about Randle's questionable conduct had surfaced. In re- sponse to these revelations, Gilmore completed an appraisal of Randle's job performance, warning him that he needed to make improvements in this area. Gilmore was now watching Randle closely. Gilmore's new "get-tough" supervisory style yielded a number of results. It was now early July, 1988, and the Life Insurance Line Price Study for which David Randle was responsible was a few month's overdue. The hcad of the Customer Services Division had całled Gilmore last week to ask him where it was. This time, Gilmore knew to ask Randle for it. David Randle said it would be ready the next day, and sure enough, the fol- lowing moming it was on Peter's desk. At an early-morning coffee break, Peter asked Betty Moore if any of the cost analysts had prepared this report. Betty re- plied, "No, David did it all himself late yesterday aftermoon." Peter started to read the report, and one thing immediately became apparent: The numbers and calculations did not seem correct. And there was something else that wasn't right about the report. At first, he just couldn't figure out what it was; then he remembered. He went to his bookcase, pulled out the February, 1986, issue of Life Insurance Digest, and there it was: David Randle's report- or rather, the Digest article that David Randle had copied and used for his re- port. Gilmore talked with Carpenter that afternoon, and both agreed that Randle must go. The next morning, Randle was sitting in front of Carpenter and Gil- more in Gilmore's office.

Background Information Just over a year after Peter hired David Randle to supervise the Pricing Unit Department of Republic Insurance's Strategic Management Division, he was faced with a number of problems. The initial period of smooth sailing had dete- rioriated as revelations about Randle's questionable conduct had surfaced. In re- sponse to these revelations, Gilmore completed an appraisal of Randle's job performance, warning him that he needed to make improvements in this area. Gilmore was now watching Randle closely. Gilmore's new "get-tough" supervisory style yielded a number of results. It was now early July, 1988, and the Life Insurance Line Price Study for which David Randle was responsible was a few month's overdue. The hcad of the Customer Services Division had całled Gilmore last week to ask him where it was. This time, Gilmore knew to ask Randle for it. David Randle said it would be ready the next day, and sure enough, the fol- lowing moming it was on Peter's desk. At an early-morning coffee break, Peter asked Betty Moore if any of the cost analysts had prepared this report. Betty re- plied, "No, David did it all himself late yesterday aftermoon." Peter started to read the report, and one thing immediately became apparent: The numbers and calculations did not seem correct. And there was something else that wasn't right about the report. At first, he just couldn't figure out what it was; then he remembered. He went to his bookcase, pulled out the February, 1986, issue of Life Insurance Digest, and there it was: David Randle's report- or rather, the Digest article that David Randle had copied and used for his re- port. Gilmore talked with Carpenter that afternoon, and both agreed that Randle must go. The next morning, Randle was sitting in front of Carpenter and Gil- more in Gilmore's office.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Evaluate the termination procedure used in this case study

Background Information Just over a year after Peter hired David Randle to supervise the Pricing Unit Department of Republic Insurance's Strategic Management Division, he was faced with a number of problems. The initial period of smooth sailing had dete- rioriated as revelations about Randle's questionable conduct had surfaced. In re- sponse to these revelations, Gilmore completed an appraisal of Randle's job performance, warning him that he needed to make improvements in this area. Gilmore was now watching Randle closely. Gilmore's new "get-tough" supervisory style yielded a number of results. It was now early July, 1988, and the Life Insurance Line Price Study for which David Randle was responsible was a few month's overdue. The head of the Customer Services Division had called Gilmore last week to ask him where it was. This time, Gilmore knew to ask Randle for it. David Randle said it would be ready the next day, and sure enough, the fol- lowing morning it was on Peter's desk. At an early-moming coffee break, Peter asked Betty Moore if any of the cost analysts had prepared this report. Betty re- plied, "No, David did it all himself late yesterday afternoon." Peter started to read the report, and one thing immediately became apparent: The numbers and calculations did not seem correct. And there was something else that wasn't right about the report. At first, he just couldn't figure out what it was; then he remembered. He went to his bookcase, pulled out the February, 1986, issue of Life Insurance Digest, and there it was: David Randle's report- or rather, the Digest article that David Randle had copied and used for his re- port. Gilmore talked with Carpenter that afternoon, and both agreed that Randle must go. The next morning, Randle was sitting in front of Carpenter and Gil- more in Gilmore's office.
Transcribed Image Text:Background Information Just over a year after Peter hired David Randle to supervise the Pricing Unit Department of Republic Insurance's Strategic Management Division, he was faced with a number of problems. The initial period of smooth sailing had dete- rioriated as revelations about Randle's questionable conduct had surfaced. In re- sponse to these revelations, Gilmore completed an appraisal of Randle's job performance, warning him that he needed to make improvements in this area. Gilmore was now watching Randle closely. Gilmore's new "get-tough" supervisory style yielded a number of results. It was now early July, 1988, and the Life Insurance Line Price Study for which David Randle was responsible was a few month's overdue. The head of the Customer Services Division had called Gilmore last week to ask him where it was. This time, Gilmore knew to ask Randle for it. David Randle said it would be ready the next day, and sure enough, the fol- lowing morning it was on Peter's desk. At an early-moming coffee break, Peter asked Betty Moore if any of the cost analysts had prepared this report. Betty re- plied, "No, David did it all himself late yesterday afternoon." Peter started to read the report, and one thing immediately became apparent: The numbers and calculations did not seem correct. And there was something else that wasn't right about the report. At first, he just couldn't figure out what it was; then he remembered. He went to his bookcase, pulled out the February, 1986, issue of Life Insurance Digest, and there it was: David Randle's report- or rather, the Digest article that David Randle had copied and used for his re- port. Gilmore talked with Carpenter that afternoon, and both agreed that Randle must go. The next morning, Randle was sitting in front of Carpenter and Gil- more in Gilmore's office.
Carpenter continued: "The Knilson Actuarial Count equation is a basic for- mula for computing the real market pricing for our life insurance policies. I want to see you do it, here, now!" Randle was now visibly shaken and said lamely: "Well, Hank, as you know, l'll need my work papers. Let me go back to my desk, I don't want to take your time ... maybe there is a specific error I made that–" Carpenter cut him off: "No sir, here and now. We'll supply you with the in- formation. Use this pen and pad of paper." Carpenter pushed the items towards him. Randle picked up the pen and began writing down some numbers. After a minute, he looked up and started to explain his results. Gilmore interrupted him: "David, you don't know what you're doing. You've got two of the basic parameters confused, and you just don't know what the hell you're doing . ... You copied this article virtually verbatim from the Life Insurance Digest, didn't you?" Gilmore pushed the article across the desk, in front of Randle. Randle was stunned. Gilmore said, "Let's go to Personnel, David. You no longer are an employee of Republic Insurance." At 10:30 a.m., David Randle walked to the street in front of the Republic In- surance Company, and by 10:45 a.m., he was no longer in sight.
Transcribed Image Text:Carpenter continued: "The Knilson Actuarial Count equation is a basic for- mula for computing the real market pricing for our life insurance policies. I want to see you do it, here, now!" Randle was now visibly shaken and said lamely: "Well, Hank, as you know, l'll need my work papers. Let me go back to my desk, I don't want to take your time ... maybe there is a specific error I made that–" Carpenter cut him off: "No sir, here and now. We'll supply you with the in- formation. Use this pen and pad of paper." Carpenter pushed the items towards him. Randle picked up the pen and began writing down some numbers. After a minute, he looked up and started to explain his results. Gilmore interrupted him: "David, you don't know what you're doing. You've got two of the basic parameters confused, and you just don't know what the hell you're doing . ... You copied this article virtually verbatim from the Life Insurance Digest, didn't you?" Gilmore pushed the article across the desk, in front of Randle. Randle was stunned. Gilmore said, "Let's go to Personnel, David. You no longer are an employee of Republic Insurance." At 10:30 a.m., David Randle walked to the street in front of the Republic In- surance Company, and by 10:45 a.m., he was no longer in sight.
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