1. FORMULATE A HIRARC REPORT based on picture and the guidelines below. Figure 1 Source : NIOSH Lecture Notes a. IDENTIFY and List SIX (6) hazards from Figure 1. b. ASSESS the risk of each hazard in terms of its L-LIKELIHOOD (occurrence) and S- SEVERITY (consequences) based on the Risk Assessment Matrix provided below.
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- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?A risk matrix, also called frequency-severity table is used to analyse risks.a. Describe how this matrix is utilised in the analysis of risks.
- CASE STUDYFrom Holiday Inns to the InterContinental Hotels GroupThe history of the Holiday Inn motel chain is one of the great success stories in United States business. Its founder, Kemmons Wilson, while vacationing in the early-1950s, found the motels he stayed in to be small, expensive, and of unpredictable quality. This discovery, along with an unprecedented amount of highway travel due to the new, integrated interstate highway program, triggered a realization: there was an unmet customer need—a gap in the market for quality accommodations. Holiday Inn was founded to meet that need. From the beginning, Holiday Inn set the standard for offering motel features such as air-conditioning and icemakers while keeping room rates reasonable. These amenities enhanced the motels’ popularity, and motel franchising, which was Wilson’s own invention, made rapid expansion possible. By 1960, Holiday Inn hotels could be found in virtually every major city and on every major highway. Before the…5. Business Feasibility Analysis of the demand (include highlights of the findings of the market feasibility study), risk (include business and market risks), environmental impact. 6. Justification of the Business Economic, social and personal benefits.1. Create a risk profile for a particular area of interest. 2. Choose a commodity for which you want to create a risk profile. 3. List five possible risks that could have an impact on the commodity's production capacity. 4. Use a Venn diagram to perform a qualitative risk assessment, indicating the likelihood percentage, category, frequency, severity, and RHC score for each risk identified. 5. Create a risk heat map or chart using the risks from the Venn diagram. 6. Summarize the prioritized areas briefly and offer some recommendations for risk reduction.
- What type of risk does sensitivity analysis address?q10- What is the best description of Granger-causality? Select one: a. the ability of lags of one variable to contribute to the forecast of another variable b. the ability of a variable to predict its own future c. the ability of the one variable to explain it own past d. None of the above Clear my choice1. Explain the challenges of managing service industry with suitable example? You being a service manager what the precautionary steps you will be initiating-Explain. 2. You are a manager working with operation department and your general manager asked to analyze the key external factors of the industry you are working with suitable example. 3. You are working with an airline company and your manager requested to submit report on elements of a good forecasting and explain pros and cons of delayed forecast.
- Nonfinancial (Operational) Control Measures: Environmental Performance Assumethat the company for which you are working is interested in implementing a comprehensivemonitoring and control system regarding environmental performance. The company is convinced that improved performance in this area will lead to reduced costs, an improved corporate image, greater market share, and ultimately to greater financial returns. To supplement anumber of financial performance indicators in the area of environmental quality, the companyis interested in developing a set of nonfinancial performance indicators, which (it is hoped) willmotivate better environmental quality. In this regard, the company has embraced five strategic objectives: minimize hazardous materials, minimize raw/virgin materials usage, minimizeenergy requirements, minimize release of residues into the environment, and maximize opportunities to recycle.RequiredFor each of the five strategic objectives referenced above, provide at…What statistical analysis/treatment can I use to interpret or answer this problem? (I have datasets) 1. Determine the interest of tertiary-level students in personal health and fitness from four universities.The H.W. Grant Corporation used regression analysis to predict the annual cost of indirect materials. The results were as follows: Indirect Materials Cost Explained by Units Produced Constant $15,675 Standard error of Y estimate $3,500 0.7776 Number of observations 16 X coefficient(s) 10.25 Standard error of coefficient(s) 2.195 What is the cost estimation equation? O A. Y= $12,175 + $10.25X O B. Y= $3,500 + $7.97X O C. Y= $19,175 + $4.67X O D. Y= $15,675 + $10.25X