Jessica owns a successful cleaning company, Spring Clean. Her clients are businesses who require their offices being cleaned at night. Her staff consists out of 15 cleaners and 5 managers. She is planning to grow the business and in the process passing on more responsibility to her managers. She is drawing up training manuals and she wants to include risk management. She is uncertain about a few topics and has come to you for advice. What are the four criteria that Jessica needs to apply when considering a proposal (12) aimed at reducing risks? Explain what consequential losses are. Support your explanation with two comprehensive examples relevant to Spring Clean.

Jessica owns a successful cleaning company, Spring Clean. Her clients are businesses who require their offices being cleaned at night. Her staff consists out of 15 cleaners and 5 managers. She is planning to grow the business and in the process passing on more responsibility to her managers. She is drawing up training manuals and she wants to include risk management. She is uncertain about a few topics and has come to you for advice. What are the four criteria that Jessica needs to apply when considering a proposal (12) aimed at reducing risks? Explain what consequential losses are. Support your explanation with two comprehensive examples relevant to Spring Clean.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 37P

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Jessica owns a successful cleaning company, Spring Clean. Her clients are businesses who require their offices being cleaned at night. Her staff consists out of 15 cleaners and 5 managers. She is planning to grow the business and in the process passing on more responsibility to her managers. She is drawing up training manuals and she wants to include risk management. She is uncertain about a few topics and has come to you for advice. What are the four criteria that Jessica needs to apply when considering a proposal (12) aimed at reducing risks? Steps taken are cost beneficial Risk aversion Policy based decisions Authoritative reason
Jessica owns a successful cleaning company, Spring Clean. Her clients are businesses who require their offices being cleaned at night. Her staff consists out of 15 cleaners and 5 managers. She is planning to grow the business and in the process passing on more responsibility to her managers. She is drawing up training manuals and she wants to include risk management. She is uncertain about a few topics and has come to you for advice. Explain what consequential losses are. Support your explanation with two comprehensive examples relevant to Spring Clean.
A depressed employee's manager is having trouble with the said depressed employee. Although the employee if achieving her quotas, she is having difficulties submitting her reports and her manager feels like she is bringing down her entire team. Almost everyone in the company knows that the company has counseling services for its employees, but are reluctant to go. What should the manager do to address this issue? Should she push through with her initial plan of terminating the depressed employee?
You are the laboratory manager of a medium-sized 120-bed hospital and are called to a hospital leadership meeting by the CEO of the facility. You are told that the hospital is having problems meeting some debt responsibility and there is a possibility that budgetary cutbacks will be needed to alleviate the situation. Each departmental manager is being given one week to plan how to accomplish a cost reduction of 10% within his/her department, should it become necessary. You are also told that this situation is highly confidential because it is not yet known whether the cost reduction will be needed. What type of long-range planning should be considered?
You are the laboratory manager of a medium-sized 120-bed hospital and are called to a hospital leadership meeting by the CEO of the facility. You are told that the hospital is having problems meeting some debt responsibility and there is a possibility that budgetary cutbacks will be needed to alleviate the situation. Each departmental manager is being given one week to plan how to accomplish a cost reduction of 10% within his/her department, should it become necessary. You are also told that this situation is highly confidential because it is not yet known whether the cost reduction will be needed. Identify the steps in developing short-term goals to address the potential reduction in resources described above.
Topic: ProbabilityGoal: In your business planning, you will employ mathematics probability to increase your chances of success.You play the role of a tiny business owner who wants to expand into a much larger enterprise. You must write a written report and deliver it to the group on the most likely outcome(s) of the business you wish to start.The target audience is a group of small company owners who could be interested in partnering with you. Product: A written report on the business's likely results that will be given to the group. Success Criteria: The written report that will be provided must be... - Represents genuine business problems or patterns. - Persuasive, based on probability mathematics.
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