Inaccurate forecasts are an inventory risk. Do you agree with this statement? Justify your stance by discussing at least three key points.
Q: describe the features of Organisational behaviour in management .
A: Organisational behaviour in organisations is studied, predicted, and managed through organisational…
Q: How is a BSC (Balanced Scorecard) useful for organizations? What is meant by the term “balanced’…
A: In order to continuously enhance strategic performance and outcomes, a balanced scorecard (BSC) is a…
Q: More and More business as well as individuals are choosing to communicate either professionally or…
A: Business communication is a communication that is intended to help a business company achieve its…
Q: What is 'Peer Influence and Contagious unethicality'? How it will happen in employees group in a…
A: When you make a decision because you want to feel liked and respected by your friends, this is known…
Q: What are the factors that affects human resource planning in an organization ?
A: Human resource planning can be referred to as a continuous process that includes systematic planning…
Q: One small business owner said that he had to teach his young employees what a "digital tone" was. Do…
A: For small businesses, it is becoming increasingly important to understand how to properly use…
Q: . What is the advantage of using appreciative wording when focusing on an initiative? 7. Discuss…
A: Leadership:- It is the process through which a person will lead the way to their employees. It will…
Q: Marathon Runners at Different Levels David Abruzzo is the newly elected president of the Metrocity…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Which TWO of the following would be appropriate objectives to fit in with this mission?
A: Non for profit organization:- A not for profit organization is an organization that exists for a…
Q: What leadership qualities are necessary for an effective business manager?
A: The definition of leadership is the capacity to motivate and direct followers or other group…
Q: What are the various techniques for hiring employees?
A: Recruitment is the activity of persistently seeking, discovering, and employing individuals for a…
Q: Question 2 The use of internet in recruitment is now very popular and has replacedtosome extent the…
A: Recruitment is regarded as a vital function of personnel administration. The process of recruitment…
Q: now -a-days ...What industries need today are highly committed employees.” Keeping this in view,…
A: Introduction : The term "employee grievance" refers to any sort of unhappiness or discontent caused…
Q: How employee empowerment strategies can be form? Elaborate
A: Employers who empower their personnel have given them increased (or total) control over business…
Q: Types of business ethics in mangement
A: Business ethics is the study of appropriate corporate behavior in relation to potentially divisive…
Q: What is the need of Organisational restructuring in the modern competitive business environment ?
A: The foundation upon which the entire management structure is built is organisation. To attain aims…
Q: Q. 6 What do you want to get out of the mentorship?
A: SOLUTION: A mentoring is a relationship between two people in which the person with greater…
Q: Brian and Dom have pooled their resources and have started a major logistics company that…
A: Supply chain has become the backbone of any corporation in the modern business environment. All…
Q: How would the power distance dimension apply within a given organization?
A: An indicator of how well-established a society's social order is is the power gap. The Power…
Q: 1.What is the organizational structure of funeral home? 2.What us the job description and…
A: A funeral home is a business that provides a variety of services to help families plan funerals and…
Q: You have started a new debt consulting firm aimed at helping South African consumers manage and…
A: INTRODUCTION: Due to technological advancements and globalization, the nature of labor is changing…
Q: What are some of the problem or challenges that managers face in International management ?
A: International management encompasses all aspects of developing an effective organisational…
Q: Consider the following scenario and then answer the questions that follow. You have started a new…
A: Entrepreneurship is the act of starting a business venture. In entrepreneurship, entrepreneurs with…
Q: For this module exam then, we will try to test your ability to demonstrate the ultimate outcome for…
A: IntroductionSince the World Health Organization (WHO) declared COVID 19 to be a pandemic on 11 March…
Q: Describe how the HR Scorecard can be used by organization implementing a high -performance work…
A: Introduction : An HR scorecard is a tool for outlining and evaluating how employee and employee…
Q: With the speed of computers, it is not necessary to limit the amount of factors considered in a…
A: With the speed of computers, it is not necessary to limit the amount of factors considered in a…
Q: Explain the differences in estimated start-up and one-time expenses
A: Expense is a term used for the money spent on different activities. A business firm incurs various…
Q: 1. Supermarket Business Introduction and conclusions 2. Supermarket Business Organizational…
A: A supermarket is a self-service store that offers a vast assortment of food, beverages, and…
Q: What are the Various types of Innovation Mangement?
A: Supporting an organization's long-term, sustainable innovation process is the goal of the business…
Q: What is authority and it's characteristics?
A: Authority is the key to success in management jobs. The capacity to carry out managing…
Q: Mention 5 drawbacks of International Business in mangement.
A: The act of advancing trade beyond national borders on a worldwide scale is referred to as an…
Q: What are the disadvantages of International Business?
A: International business is the act of promoting trade on a global scale beyond national boundaries.…
Q: Gillian is the manager of a nursing home with a diverse workforce, in regards to qualification, age,…
A: Introduction: The Hersey-Blanchard Model provides a view on leadership types depending on the…
Q: Think about the last time you attended a training program, or about one of the courses you are…
A: This is a generalized answer. Professionals in training and development have a responsibility to…
Q: Case Study : Haeir Group Haier Group is China’s largest home-appliance maker, and CEO Zhang has…
A: Company- The alliance and collection of persons who work collaboratively towards a shared goal…
Q: Describe each type of emotional intelligence and provide examples of how each component could come…
A: The term "emotional intelligence" (EI) refers to a person's capacity to comprehend, control, and…
Q: What is coordination in management ?
A: SOLUTION: Coordination can be thought of as the underlying thread that connects and unites all of…
Q: What are the important elements of a team?
A: A group of people who work together to carry out interdependent tasks in support of a common…
Q: They Dominated the Conversation The local cancer center has a health team designed to coordinate…
A: Team- A team is any collection of individuals human or otherwise who cooperate to accomplish a…
Q: What are the functions of top level Management
A: The top highest executive level of an institution makes up this level of management. Their main…
Q: Why is communicating a clear direction for strategy important? a) The strategy can only work if…
A: A typical aspect of a manager's or supervisor's job is giving instructions for new responsibilities…
Q: Explain.Why Training is not an expense but a long-term investment on employees. ?
A: Concept Introduction : Training is typically a brief exercise in skill-development designed for…
Q: What are the strategies adopted by an organisation for employees motivation ?
A: Introduction : Employee motivation is an essential aspect of human resource management and is vital…
Q: How will you describe Albert’s leadership style? Does his style match the circumstance that…
A: Leadership: The process of taking charge of a team or organization. Effective leaders possess a…
Q: Employee training is necessary for an organisation .. discuss how the training needs of the…
A: Any training programmed that you want to be successful should always start with a training needs…
Q: 5 Limitation of international Business.
A: International business is the practice of expanding trade on a global scale beyond national…
Q: Briefly describe each of the five risk-control strategies.
A: A collection of processes known as "risk control" are employed by firms to evaluate potential losses…
Q: Human Resource Management Human resource management is the process of employing people, training…
A: The department of a corporation tasked with discovering, selecting, hiring, and training job…
Q: A.2 X is a marketing services company, providing consultancy to a range of business clients. As part…
A: Porter’s five forces model identifies and analyses various competitive forces that exist in an…
Q: Complete the following statements by filling, in the blanks with the correct word choose your answer…
A: A business process is a series of sequential steps to obtain an outcome. Business processes help to…
Inaccurate forecasts are an inventory risk. Do you agree with this statement? Justify
your stance by discussing at least three key points.
Step by step
Solved in 2 steps
- Under what conditions might a firm use multiple forecasting methods?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?
- Explain the word "false" for a successful forecast?The following table shows the actual demand observed over the last 11 years: Year 1 2 3 4 5 6 7 8 9 10 11 Demand 6 8 4 9 13 8 11 14 9 13 7 Part 2 Using exponential smoothing with α = 0.40 and a forecast for year 1 of 5.0, provide the forecast from periods 2 through 12 (round your responses to one decimal place). Year 1 2 3 4 5 6 7 8 9 10 11 12 Forecast 5.0 enter your response here enter your response here enter your response here enter your response here enter your response here enter your response here enter your response here enter your response here enter your response here enter your response here enter your response hereChoosing between the three period and the five period forecasts, which one would you use as a purchasing manager of the Whitebridge Hardware Store for the fertilizer it sells? Be sure to factor in the cumulative forecast errors in your answer. Also, make sure you include some rationale about why you are picking the method you do for this particular business, given its demand pattern. So for example, does picking one method over the other have any impact on how much inventory they will have on hand to meet customer demand when it grows and when it drops? Which method better supports these things?
- What is Use a naive method to make a forecast?Using data in the below in class example, forecast GA operations using effective buying income (X2) as the independent variable. Develop forecasts for the years 2010, 2015, 2020 and 2030. Show your answers in a table. Questions: How does this forecast differ from that using employment as the independent variable? What is the coefficient of determination for this scenario and what does it imply? Service Area Year GA Operations (Y) Employment (X1) Effective Buying Income (X2) 2000 22,513 45,714 $8,433 2001 23,768 48,601 $9,207 2002 21,838 51,314 $10,106 2003 25,904 54,107 $10,457 2004 26,208 57,848 $11,055 2005 26,946 56,022 $11,016 2006 27,977 56,317 $11,399 2007 27,294 58,757 $11,883 2008 28,647 61,556 $12,119 2009 29,270 62,341 $12,213 Forecast 2010 66,533 $13,081 2015 73,491 $14,609 2020 82,189 $16,525 2030 99,584…Given the following demand data, Period Demand 1 47 2 44 3 47 4 44 5 48 a. Compute a weighted average forecast using a weight of 0.4 for the most recent period, 0.3 for the next most recent, 0.2 for the next, and 0.1 for the next. (Round all your answers to two decimal points.) b. If the actual demand for period 6 is 48, forecast demand for period 7 using the same weights as in part a. Forecast Period 7 ______