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- What are the differences between bottom-up and top-down estimating approaches? Determine advantages and disadvantages for using each approach. Under what conditions would you prefer one over the other? Provide a specific example to support your response.As a new product developer, you recently launched a new Consumer product into the market. Identify 3 key metrics that you might typically forecast when planning your product launch and then track following product launch. Why did you select these 3 metrics?A recent report, dated February 3, 2020, on executive awareness of and involvement in corporate pandemic preparedness by Michael Evangelides, Principal at Deloitte Consulting LLP, states that, there is a need for more staff training on COVID 19 to improve health and safety in the workplace, reduction of workplace absences. Most top executives and boards of directors are not engaged in the pandemic planning process and won't give it equal billing to other potential disruptions until at least one of the following occurs: Media attention to pandemic influenza increases. Legislation or Regulation are passed, requiring enactment Shareholders and investors demand a high level of preparedness. The financial impact of a pandemic on the corporation becomes evident. A new collective bargaining agreement for Haze Trelawny LLP, a steel manufacturing company, is quickly approaching. The entity just penned a huge contract and would require all hands on deck in order to meet the stringent…
- 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.Of the topics covered on the second test (Project Scheduling, Decision Analysis, Forecasting), discuss which is most applicable to a future career in business. Justify and give specific examples or cases.(1) Each goal has at least 1 lead and 1 lag measure. List these(2) For each measure: Clearly explain, using research, why you think the measure is the most appropriate and realistic metric for the given goal. You may compare different alternative measures and point out the measure you choose is the best measure.Note that to say one measure is better than other measures, you need to have criteria to compare. So, the criteria can be, but not limited to:- Strong causal link between the movement in the measure with the movement in the phenomena you want to measure- Cost-effective: easy and cheap to implement- Accuracy: data collected are accurate(3) Check if measures for different goals are relatively linked with each other. Perspective Strategic Objective Lead Measure Lag Measure Financial Reduce Cost & Waste Achieve sustainable revenue growth Enhance Customer Value Customer Promote Ethical and Sustainable Consumption…
- I need help setting up excel solver. I am not clear.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.
- 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 criteria will you use to determine the best plan of action?the market in the small rural town of centerville has been very hot. values are leveling off but single family residences remain scarce . a potential buyer asks about the advisability of buying some farmland outside of town to develop into single family lots for sale to builders. she has noticed several builders already getting ready for new subdivisions by preparing new lots . how might a broker best advise this potential buyer. a) he should suggest to this potential buyer that her timing is perfect. The slowing residential market will give her a chance to get the lots ready and she can probably pre-sell some to builders and raise some cash. Since strong markets usually last a decade or more, she should line up her financing and get started. b) in a cycle like the one described, builders always play "follow the leader". The builders obviously will sell their new homes quickly and a broker should encourage this potential buyer to go ahead with her plan to she can be ready to profit by…What is planning for the worst case scenario, and how does it work?