We have all heard the claim that "the customer is always right." Well, maybe we should pause for a minute. Is the customer always right? Decide whether or not the customer is always right, and explain your rationale.
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We have all heard the claim that "the customer is always right." Well, maybe we should pause for a minute. Is the customer always right? Decide whether or not the customer is always right, and explain your rationale.
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- do you believe in the saying "customer is always right"? why or why not?Third issue: moral hazard and uncertainty Dear consultant. We have a cool strategy, but we don’t want to tell people about this, you know, just you. We can reduce the amount of sustainable materials in the products (forks, plates, etc) and replace them with plastic of the same color, but only after we have gathered trust. Someone mentioned something about moral hazard and principal-agent theory dilemmas, but we don’t understand that (we actually don’t care, but you know, the investor is always monitoring us). Should we do this? What do you recommend? We firmly believe that there is no risk to getting caught, because simply in the last 10 months, no one has been caught changing the product features. What is your take on this one, dear consultant?In the process of understanding customer behavior, give real examples of “Dimensions of decision making”. Also, apply the SMART framework to any business objective of your choice.
- You are the manager of a train company. Recently total sales have been a bit low and you are now considering means to give sales a boost. Market research has shown that currently the price of train tickets is historically low. Market research has also shown that the demand curve for train tickets is downward sloping. You may assume that your company is not a price taker on the market. 1One of your colleagues has suggested that it is important to lower the price of train tickets. In that case, she argues, the demand will increase. Do you agree with her? Explain why. 2She continues her argument by concluding that if the demand goes up, the total value of sales of train tickets should therefore increase. Do you agree with her? Explain why.Survey the literature from the past six months to find one application each of DSS, BI, and analytics. Summarize the applications on one page and submit it with the exact sources. Compare and contrast predictive analytics with prescriptive and descriptive analytics. Use examples. Go to teradatauniversitynetwork.com and find the paper titled “Data Warehousing Supports Corporate Strategy at First American Corporation” (by Watson, Wixom, and Goodhue). Read the paper, and answer the following questions: What were the drivers for the DW/BI project in the company? What strategic advantages were realized? What operational and tactical advantages were achieved? What were the critical success factors for the implementation?Having a well-established business processes serves which of the following strategy? Meet the budget Forecast the future Strategic orientation Create a new future thank you
- Please summarize the below so it can become easy to understand and memorize for exam purposes. The below answer belongs to this question (Write a note on how the genetic strategies will change because of IT). The answer to summarize: There are four generic strategies, each often enabled by using information technology and systems. These include low-cost leadership, product differentiation, focus on market niche, and strengthening customer and supplier intimacy. Low-Cost Leadership Walmart keeps prices low and shelves well-stocked using a legendary inventory replenishment system. The system sends orders for new merchandise directly to suppliers as soon as consumers pay. Suppliers can also access Walmart's sales and inventory data using Web technology. Because the system replenishes inventory with lightning speed, Walmart does not need to spend much money maintaining large inventories of goods in its own warehouses. An efficient customer response system directly links consumer behavior…Provide two recommendations that you think Estee Lauder should taketo strategically advance itself. One should be short-term (6 months – 3 years), and one should be long-term (3 – 5years). You need to thoroughly explain each recommendation, and you need to provide recommended action stepsfor each goal – you are the consultant, so they need your guidance on this. Explain why you are giving theserecommendations and why you think they will help the organization.Imagine that you are the manager of a fine dining restaurant. You are faced by the problem of a server who refuses to follow the service standards and techniques established by the owner. It is apparent to you that the server's techniques result in faster service, but they are clearly better suited to a diner. Two of the owners' s goals are profitability and elegant service. Illustrate the relevance of the control process to food and beverage management. Answer this question by using a mind map. Please do fast ASAP fast
- Explore the root problem. There is a difference in the possible "root problem" and "symptoms". Root solution. What is the most feasible solution/option from the firm's available resources, which will best satisfy the stakeholders? Your assessment of the case study will depend on the facts and your reasoned argument.Which of the following is NOT true of a good balanced scorecard? a. It identifies all measures, whether significant or small, that help to implement strategy. b. It uses nonfinancial measures to serve as leading indicators of future financial performance. c. It helps to communicate corporate strategy to all members of the organization. d. It tells the story of a company's strategy by articulating a sequence of cause-and-effect relationships.What happens when your CEO wants to remove the tip structure from your restaurant? Do you complain about the new prices as a customer? Do you worry about your paychecks as a server? Danny Meyer, CEO of Union Square Hospitality (home to some of the most successful New York restaurants), discovered these answers when he began eliminating the tip structure in most of his restaurants. He had seen firsthand the largest negative impact of a tipping culture: employees stuck in front-line positions with no chance to advance to management without taking significant pay cuts. Meyer began by first involving the affected employees in town-hall talks. These town halls happened months before any publicity was released. Meyer then hosted town halls with customers to explain the importance of fair wages for all his employees at the restaurant, not just the few who served the food. The transition period for each restaurant to eliminate tips was usually three to six months. As a result of eliminating…