From the perspective of your department and management level, discuss the impact that your issue could have on the department and the company as a whole. Suggest ONE reason why the deduction could have been too small Critique TWO suggestions made by group mates from other departments. Lack of communication and incorrect distribution
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The MGMT Insurance Ltd. accepts payments on various insurance policies from employees of businesses across the island. These businesses deduct payments from employees’ salaries and pay the insurance company a lump sum each month. This total amount deducted is shown on each employee’s payslip. Deductions are due at the end of each month and each participating business submits one payment for its employees to the insurance company via online payments through the bank. However, if payments were received after 11:00 a.m., the bank does not process them until the next business day. At the beginning of each month an administrative assistant at MGMT Insurance Ltd. downloads the deductions for each company and allocates payments to the various policies. These payments include the client’s unique number along with his/her relevant policy numbers and amounts due. However, recently there has been some complaints that payments for some policies were not being allocated correctly. Additionally, assume that one client experienced a problem with insufficient deductions to cover his/her monthly premiums. As a new manager with the company, you wish to check the systems and processes to ensure that they are up-to-date and report your findings and possible recommendations at the upcoming meeting.
REQUIRED
as an Information Technology Manager you need to analyse the above business processes and discuss what could possibly cause the troubles that the company is currently experiencing. You are attending a number of routine meetings that are conducted online. The meetings are organized in five partss to discuss a different part of the requirements.
From the perspective of your department and management level, discuss the impact that your issue could have on the department and the company as a whole.
- Suggest ONE reason why the deduction could have been too small
- Critique TWO suggestions made by group mates from other departments.
Lack of communication and incorrect distribution
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- Lemingtons is trying to determine how many Jean Hudson dresses to order for the spring season. Demand for the dresses is assumed to follow a normal distribution with mean 400 and standard deviation 100. The contract between Jean Hudson and Lemingtons works as follows. At the beginning of the season, Lemingtons reserves x units of capacity. Lemingtons must take delivery for at least 0.8x dresses and can, if desired, take delivery on up to x dresses. Each dress sells for 160 and Hudson charges 50 per dress. If Lemingtons does not take delivery on all x dresses, it owes Hudson a 5 penalty for each unit of reserved capacity that is unused. For example, if Lemingtons orders 450 dresses and demand is for 400 dresses, Lemingtons will receive 400 dresses and owe Jean 400(50) + 50(5). How many units of capacity should Lemingtons reserve to maximize its expected profit?Located in the picturesque Berkshire Mountains of Western Massachusetts, Ski Butternut has been a family-owned, family-oriented ski destination for more than 50 years. The resort includes 22 trails for downhill skiing and snowboarding, two terrain parks for riding, and a dedicated area for snow tubing. Although Ski Butternut hosts some non-ski events during summer and fall, its business goes into high gear when snowy weather arrives, bringing skiers and riders from across Massachusetts, Connecticut, New York, and New Jersey. Matt Sawyer, Ski Butternuts director of marketing, says the primary target market has always been families with young children who are seeking affordable skiing. Everything from the snack-bar menus to the ski-shop merchandise is presented with families in mind. So that parents can have fun in the snow without worry, the resort has a Childrens Center for children who are too young to ski or have no interest. Fifth-graders are invited to ski for free when accompanied by an adult who buys an adult lift ticket. The resort also created two terrain parks for young snowboarders who were clamoring for a more exciting riding experience. Without the terrain parks, Sawyer says, these boarders would have asked their parents to take them to competing mountains in Vermont. Ski Butternuts research shows that first-timers are a particularly important segment, because they tend to have a strong allegiance to the resort where they learn to ski. First-timers typically visit the resort seven times before seeking out more challenging mountains. As a result, Ski Butternut has made teaching first-timers to ski or snowboard one of its specialties. For this market, the resort bundles ski or board rentals, lift tickets, and also offers a wide range of individual and group lessons for all ages and abilities at a value price. Because Ski Butternut has trails for different skill levels, beginners can challenge themselves by changing trails within the resort once they feel confident. Ski Butternut also targets seniors and college students. Knowing that weekends are the busiest period, the resort offers special midweek prices to attract seniors who have free time to ski on weekdays. College students are particularly value-conscious, and they often travel to ski resorts as a group. As a result, Ski Butternut offers weekend and holiday discounts to bring in large numbers of students who would otherwise ski elsewhere. Thanks to Facebook, Twitter, and other social media, students quickly spread the word about special pricing, which enhances Ski Butternuts ability to reach this key segment. In addition, the resort highlights discount pricing for families when targeting specific segments, such as scout troops, military personnel, emergency services personnel, and members of local ski clubs. Another segment Ski Butternut has selected for marketing attention is ski racers. The resort features professional coaching, lessons, and programs for ski racers in the age group of 8 to 20. Sawyer notes that these ski racers are extremely dedicated to training, which means theyre on the slopes as often as possible, a positive for the resorts attendance and revenue. To stay in touch with racers, Ski Butternut has a special website and a dedicated Facebook page. Sawyer conducts up to 1,200 customer surveys every year to better understand who his customers are and what they need. He also compares the results with skiers who visit mountains of a similar size in other areas. Digging deeper, he analyzes data drawn from the ski shops rental business to build a detailed picture of customers demographics, abilities, and preferences. Based on this research, he knows that the typical family at Ski Butternut consists of two children under age 18 who ski or ride, and at least one parent who skis. Because they can obtain so much information from and about their customers, Sawyer and his team are able to make better decisions about the marketing mix for each segment. By better matching the media with the audience, they get a better response from advertising, e-mail messages, and other marketing communications. As one example, they found that 15 percent of the visitors to Ski Butternuts website were using a smartphone to access the site. Sawyer has now created a special version of the site specifically for mobile use and created a text-message contest to engage skiers who have smartphones.16 Of the four categories of variables, which one seems to be the most central to Ski Butternuts segmentation strategy, and why?Located in the picturesque Berkshire Mountains of Western Massachusetts, Ski Butternut has been a family-owned, family-oriented ski destination for more than 50 years. The resort includes 22 trails for downhill skiing and snowboarding, two terrain parks for riding, and a dedicated area for snow tubing. Although Ski Butternut hosts some non-ski events during summer and fall, its business goes into high gear when snowy weather arrives, bringing skiers and riders from across Massachusetts, Connecticut, New York, and New Jersey. Matt Sawyer, Ski Butternuts director of marketing, says the primary target market has always been families with young children who are seeking affordable skiing. Everything from the snack-bar menus to the ski-shop merchandise is presented with families in mind. So that parents can have fun in the snow without worry, the resort has a Childrens Center for children who are too young to ski or have no interest. Fifth-graders are invited to ski for free when accompanied by an adult who buys an adult lift ticket. The resort also created two terrain parks for young snowboarders who were clamoring for a more exciting riding experience. Without the terrain parks, Sawyer says, these boarders would have asked their parents to take them to competing mountains in Vermont. Ski Butternuts research shows that first-timers are a particularly important segment, because they tend to have a strong allegiance to the resort where they learn to ski. First-timers typically visit the resort seven times before seeking out more challenging mountains. As a result, Ski Butternut has made teaching first-timers to ski or snowboard one of its specialties. For this market, the resort bundles ski or board rentals, lift tickets, and also offers a wide range of individual and group lessons for all ages and abilities at a value price. Because Ski Butternut has trails for different skill levels, beginners can challenge themselves by changing trails within the resort once they feel confident. Ski Butternut also targets seniors and college students. Knowing that weekends are the busiest period, the resort offers special midweek prices to attract seniors who have free time to ski on weekdays. College students are particularly value-conscious, and they often travel to ski resorts as a group. As a result, Ski Butternut offers weekend and holiday discounts to bring in large numbers of students who would otherwise ski elsewhere. Thanks to Facebook, Twitter, and other social media, students quickly spread the word about special pricing, which enhances Ski Butternuts ability to reach this key segment. In addition, the resort highlights discount pricing for families when targeting specific segments, such as scout troops, military personnel, emergency services personnel, and members of local ski clubs. Another segment Ski Butternut has selected for marketing attention is ski racers. The resort features professional coaching, lessons, and programs for ski racers in the age group of 8 to 20. Sawyer notes that these ski racers are extremely dedicated to training, which means theyre on the slopes as often as possible, a positive for the resorts attendance and revenue. To stay in touch with racers, Ski Butternut has a special website and a dedicated Facebook page. Sawyer conducts up to 1,200 customer surveys every year to better understand who his customers are and what they need. He also compares the results with skiers who visit mountains of a similar size in other areas. Digging deeper, he analyzes data drawn from the ski shops rental business to build a detailed picture of customers demographics, abilities, and preferences. Based on this research, he knows that the typical family at Ski Butternut consists of two children under age 18 who ski or ride, and at least one parent who skis. Because they can obtain so much information from and about their customers, Sawyer and his team are able to make better decisions about the marketing mix for each segment. By better matching the media with the audience, they get a better response from advertising, e-mail messages, and other marketing communications. As one example, they found that 15 percent of the visitors to Ski Butternuts website were using a smartphone to access the site. Sawyer has now created a special version of the site specifically for mobile use and created a text-message contest to engage skiers who have smartphones.16 What role do geographic variables play in Ski Butternuts segmentation and targeting?
- Located in the picturesque Berkshire Mountains of Western Massachusetts, Ski Butternut has been a family-owned, family-oriented ski destination for more than 50 years. The resort includes 22 trails for downhill skiing and snowboarding, two terrain parks for riding, and a dedicated area for snow tubing. Although Ski Butternut hosts some non-ski events during summer and fall, its business goes into high gear when snowy weather arrives, bringing skiers and riders from across Massachusetts, Connecticut, New York, and New Jersey. Matt Sawyer, Ski Butternuts director of marketing, says the primary target market has always been families with young children who are seeking affordable skiing. Everything from the snack-bar menus to the ski-shop merchandise is presented with families in mind. So that parents can have fun in the snow without worry, the resort has a Childrens Center for children who are too young to ski or have no interest. Fifth-graders are invited to ski for free when accompanied by an adult who buys an adult lift ticket. The resort also created two terrain parks for young snowboarders who were clamoring for a more exciting riding experience. Without the terrain parks, Sawyer says, these boarders would have asked their parents to take them to competing mountains in Vermont. Ski Butternuts research shows that first-timers are a particularly important segment, because they tend to have a strong allegiance to the resort where they learn to ski. First-timers typically visit the resort seven times before seeking out more challenging mountains. As a result, Ski Butternut has made teaching first-timers to ski or snowboard one of its specialties. For this market, the resort bundles ski or board rentals, lift tickets, and also offers a wide range of individual and group lessons for all ages and abilities at a value price. Because Ski Butternut has trails for different skill levels, beginners can challenge themselves by changing trails within the resort once they feel confident. Ski Butternut also targets seniors and college students. Knowing that weekends are the busiest period, the resort offers special midweek prices to attract seniors who have free time to ski on weekdays. College students are particularly value-conscious, and they often travel to ski resorts as a group. As a result, Ski Butternut offers weekend and holiday discounts to bring in large numbers of students who would otherwise ski elsewhere. Thanks to Facebook, Twitter, and other social media, students quickly spread the word about special pricing, which enhances Ski Butternuts ability to reach this key segment. In addition, the resort highlights discount pricing for families when targeting specific segments, such as scout troops, military personnel, emergency services personnel, and members of local ski clubs. Another segment Ski Butternut has selected for marketing attention is ski racers. The resort features professional coaching, lessons, and programs for ski racers in the age group of 8 to 20. Sawyer notes that these ski racers are extremely dedicated to training, which means theyre on the slopes as often as possible, a positive for the resorts attendance and revenue. To stay in touch with racers, Ski Butternut has a special website and a dedicated Facebook page. Sawyer conducts up to 1,200 customer surveys every year to better understand who his customers are and what they need. He also compares the results with skiers who visit mountains of a similar size in other areas. Digging deeper, he analyzes data drawn from the ski shops rental business to build a detailed picture of customers demographics, abilities, and preferences. Based on this research, he knows that the typical family at Ski Butternut consists of two children under age 18 who ski or ride, and at least one parent who skis. Because they can obtain so much information from and about their customers, Sawyer and his team are able to make better decisions about the marketing mix for each segment. By better matching the media with the audience, they get a better response from advertising, e-mail messages, and other marketing communications. As one example, they found that 15 percent of the visitors to Ski Butternuts website were using a smartphone to access the site. Sawyer has now created a special version of the site specifically for mobile use and created a text-message contest to engage skiers who have smartphones.16 How is Ski Butternut applying behavioristic variables in its segmentation strategy? Explain your answer.The MGMT Insurance Ltd. accepts payments on various insurance policies fromemployees of businesses across the island. These businesses deduct payments fromemployees’ salaries and pay the insurance company a lump sum each month. This totalamount deducted is shown on each employee’s payslip.Deductions are due at the end of each month and each participating business submits onepayment for its employees to the insurance company via online payments through thebank. However, if payments were received after 11:00 a.m., the bank does not processthem until the next business day. At the beginning of each month an administrativeassistant at MGMT Insurance Ltd. downloads the deductions for each company andallocates payments to the various policies. These payments include the client’s uniquenumber along with his/her relevant policy numbers and amounts due.However, recently there has been some complaints that payments for some policies werenot being allocated correctly. Additionally, assume that one…The MGMT Insurance Ltd. accepts payments on various insurance policies fromemployees of businesses across the island. These businesses deduct payments fromemployees’ salaries and pay the insurance company a lump sum each month. This totalamount deducted is shown on each employee’s payslip. Deductions are due at the end of each month and each participating business submits onepayment for its employees to the insurance company via online payments through thebank. However, if payments were received after 11:00 a.m., the bank does not processthem until the next business day. At the beginning of each month an administrativeassistant at MGMT Insurance Ltd. downloads the deductions for each company andallocates payments to the various policies. These payments include the client’s uniquenumber along with his/her relevant policy numbers and amounts due.However, recently there has been some complaints that payments for some policies werenot being allocated correctly. Additionally, assume that…
- The MGMT Insurance Ltd. accepts payments on various insurance policies fromemployees of businesses across the island. These businesses deduct payments fromemployees’ salaries and pay the insurance company a lump sum each month. This totalamount deducted is shown on each employee’s payslip.Deductions are due at the end of each month and each participating business submits onepayment for its employees to the insurance company via online payments through thebank. However, if payments were received after 11:00 a.m., the bank does not processthem until the next business day. At the beginning of each month an administrativeassistant at MGMT Insurance Ltd. downloads the deductions for each company andallocates payments to the various policies. These payments include the client’s uniquenumber along with his/her relevant policy numbers and amounts due.However, recently there has been some complaints that payments for some policies werenot being allocated correctly. Additionally, assume that one…The MGMT Insurance Ltd. accepts payments on various insurance policies fromemployees of businesses across the island. These businesses deduct payments fromemployees’ salaries and pay the insurance company a lump sum each month. This totalamount deducted is shown on each employee’s payslip. Deductions are due at the end of each month and each participating business submits onepayment for its employees to the insurance company via online payments through thebank. However, if payments were received after 11:00 a.m., the bank does not processthem until the next business day. At the beginning of each month an administrativeassistant at MGMT Insurance Ltd. downloads the deductions for each company andallocates payments to the various policies. These payments include the client’s uniquenumber along with his/her relevant policy numbers and amounts due.However, recently there has been some complaints that payments for some policies werenot being allocated correctly. Additionally, assume that…The MGMT Insurance Ltd. accepts payments on various insurance policies fromemployees of businesses across the island. These businesses deduct payments fromemployees’ salaries and pay the insurance company a lump sum each month. This totalamount deducted is shown on each employee’s payslip.Deductions are due at the end of each month and each participating business submits onepayment for its employees to the insurance company via online payments through thebank. However, if payments were received after 11:00 a.m., the bank does not processthem until the next business day. At the beginning of each month an administrativeassistant at MGMT Insurance Ltd. downloads the deductions for each company andallocates payments to the various policies. These payments include the client’s uniquenumber along with his/her relevant policy numbers and amounts due.However, recently there has been some complaints that payments for some policies werenot being allocated correctly. Additionally, assume that one…
- The MGMT Insurance Ltd. accepts payments on various insurance policies fromemployees of businesses across the island. These businesses deduct payments fromemployees’ salaries and pay the insurance company a lump sum each month. This totalamount deducted is shown on each employee’s payslip.Deductions are due at the end of each month and each participating business submits onepayment for its employees to the insurance company via online payments through thebank. However, if payments were received after 11:00 a.m., the bank does not processthem until the next business day. At the beginning of each month an administrativeassistant at MGMT Insurance Ltd. downloads the deductions for each company andallocates payments to the various policies. These payments include the client’s uniquenumber along with his/her relevant policy numbers and amounts due.However, recently there has been some complaints that payments for some policies werenot being allocated correctly. Additionally, assume that one…The MGMT Insurance Ltd. accepts payments on various insurance policies fromemployees of businesses across the island. These businesses deduct payments fromemployees’ salaries and pay the insurance company a lump sum each month. This totalamount deducted is shown on each employee’s payslip.Deductions are due at the end of each month and each participating business submits onepayment for its employees to the insurance company via online payments through thebank. However, if payments were received after 11:00 a.m., the bank does not processthem until the next business day. At the beginning of each month an administrativeassistant at MGMT Insurance Ltd. downloads the deductions for each company andallocates payments to the various policies. These payments include the client’s uniquenumber along with his/her relevant policy numbers and amounts due.However, recently there has been some complaints that payments for some policies werenot being allocated correctly. Additionally, assume that one…The MGMT Insurance Ltd. accepts payments on various insurance policies fromemplovees of businesses across the island. These businesses deduct payments fromemployees' salaries and pay the insurance company a lump sum each month. This totalamount deducted is shown on each employee's payslip. Deductions are due at the end of each month and each participating business submits onepavment for its emplovees to the insurance company via online payments through thebank. However, if payments were received after 11:00 a.m., the bank does not processthem until the next business day. At the beginning of each month an administrativeassistant at MGMT Insurance Ltd. downloads the deductions for each company andallocates payments to the various policies. These payments include the client's uniquenumber along with his/her relevant policy numbers and amounts due. However, recently there has been some complaints that payments for some policies werenot being allocated correctly. Additionally, assume that…
