Module 2 - CaseProduction and Costs Assignment Overview Before beginning this assignment, make sure you have gone carefully through all of the required readings for this module. It is very important to carefully absorb both the general concepts as well as the numerical examples in the background readings. For this assignment, you will have to answer some purely conceptual questions as well as some numerical problems. For conceptual questions, make sure to thoroughly explain your answers and to cite specific readings from the required background materials to explain your answers. For numerical problems, make sure to show all of your work and explain how you arrived at your answers (partial credit can be given if you get the final answer wrong but do some of the steps correctly). Note that you need to use Microsoft Excel to do the graphs for the numerical problems. Case Assignment Part A: Conceptual questions Suppose you own a television factory and at your current level of output you have average total cost of $800 per television, average variable costs of $700 per television, and a marginal cost of $400. If the price your buyers are willing to pay is $500, should you decrease or increase production? Explain your reasoning, and make sure to cite at least one of the required readings in your answer.You are the owner of a restaurant, and currently you have only one waiter. While this keeps costs down, many of your customers go home because they are tired of waiting in line or waiting for their order. You hire four more waiters and waitresses, and you are now able to serve a dramatically higher number of customers. Seeing the huge productivity gains from hiring more staff, you then hire 20 more waiters and waitresses. However, you are not able to serve any more customers than you were able to when your staff size was only four. In fact, your restaurant has become overly crowded because there is not enough room in your restaurant for all of your staff. You are confused as to why hiring four more staff members increased your productivity, but hiring 20 more did not. What concept from the background readings best describes what happened in this case? Explain your reasoning. Part B: Quantitative problemsThe following table gives the total weekly output of bicycles at Al’s Bicycle Town. Table 1Labor Total Product (TP) Average Product of labor (AP) Marginal Product of labor (MP)0 0 na na1 100 100 1002 300 ----- ___3 450 ___ ___4 ___ ___ 1105 630 ___ ___6 ___ 110 ___ Complete this table.Draw the graphs of the marginal product (MP) and the average product (AP). To learn how to plot the data in Excel, see https://www.youtube.com/watch?v=B3U9tDcoNeI Where do the AP and MP curve cross? The cost of 1 worker is $2000 per month. Total fixed cost is $4000 per month. Complete Table 2 using your answers from Table 1 and by computing total variable cost (TVC) and total cost(TC). Table 2Labor Total Product (TP) Total variable cost (TVC) Total cost (TC)0 0 na 40001 100 2000 ___2 300 ----- ___3 450 ___ ___4 ___ ___ 120005 630 ___ ___6 ___ 12000 ___ Draw the graphs of the TC and TVC curves. What is the relationship between these two curves? Complete Table 3 by using your answers from the previous Tables and calculating the AVC, ATC, and MC. Table 3 Total Product (TP) Average variable cost (AVC) Average total cost (ATC) Marginal cost (MC) 0 na na na 100 20 ___ 20 300 ----- ___ ___ 450 ___ ___ ___ ___ ___ 21.43 ___ 630 ___ ___ ___ ___ ___ ___ 66.67 Draw the graphs of the ATC, AVC, and MC curves. What is the relationship between the ATC and AVC curves? Between the MC and AVC curves? Assignment Expectations Answer the assignment questions directly.Stay focused on the precise assignment questions. Do not go off on tangents or devote a lot of space to summarizing general background materials.For computational problems, make sure to show your work and explain your steps.For short answer/short essay questions make sure to reference your sources of information with both a bibliography and in-text citations. See the Student Guide to Writing a High-Quality Academic Paper, including pages 11-14 on in-text citations. Another resource is the “Writing Style Guide,” which is found under “My Resources” in the TLC Portal.

The Internet has made it much more convenient to engage in online transactions. Discuss some of the ways that the law is keeping up or lagging behind with these changes. Be sure to draw on an example from the way the banking industry (and the laws regulating this industry) has adapted.* Only need a 150 word response.

CompetencyIn this project, you will demonstrate your mastery of the following competency:Demonstrate the manager’s role in the change management process in an organizationScenarioYou are a manager of a call center, Respond to Resolve, that answers calls for a number of local small businesses. As the business has begun to mature, you and the owner of the call center have noticed that your existing plan for employees requesting time off has been ineffective. For instance, there are certain peak times that many employees request time off, leaving Respond to Resolve understaffed. The remaining employees are overworked; and external clients, including callers and businesses, get frustrated by wait times.You have decided to implement a new process for requesting and approving time off that will ensure operational coverage as well as consistency in time off policies for all employees. Employees who request time off will be approved based on the order in which they submit their requests and at least 50% of staff must be working each day. You have a system in place that will track this automatically and let employees know when their time off has been approved; however, you anticipate that some employees will dislike this more official method of tracking time off.While the change in policy does seem fairly minor to you and the owner, you realize that some employees may have a negative reaction. In order to help manage this change smoothly, you must create a brief change management plan as well as a presentation to your employees. As you work on this plan and presentation, consider that everyone responds to change differently. The owner of Respond to Resolve is counting on you to minimize negative impact and maintain positive employee morale.DirectionsThe owner of Respond to Resolve would like you to create an abbreviated change management plan as well as a presentation to your call center employees to communicate this new time off request policy. Be sure to complete the following:Change Management Plan Introduction: Begin your plan by explaining the importance of creating a change management plan. Answer the following question: How do change management plans support the success of an initiative?Current Problem: In your next section, discuss the current problem and proposed change. Include the following: Proposed Change: Describe what change will be implemented.Reason for Change: Explain why this change needs to be implemented.Intended Outcome: Describe the desired outcome from making this change.Stakeholder Impact: In your next section, list at least two potential benefits and at least two potential perceived adverse effects on each of the following: Internal Stakeholders: For the purpose of this plan, the only internal stakeholders you need to describe are your employees. Your employees are call center employees who will be requesting their time off with the new system.External Stakeholders: For the purpose of this plan, the only internal stakeholders you need to describe are your customers. Your customers are the local owners of small businesses whose calls you answer at Respond to Resolve.Communication Plan: Conclude your change management plan with a brief communication plan. Describe how and when you will communicate this change to employees. Consider including your Change Management Presentation in this plan. You do not need to draft specific communication, aside from the presentation, but should describe the message type and tone. (“When” here refers to how long before the change is being made and how often the communication will be broadcast to the organization.)Determine if you will communicate this change to customers. If so, how and when will you do so? If not, why not? (“When” here refers to how long before the change is being made and how often the communication will be broadcast to the organization.)Change Management Presentation Change Proposal: Explain the proposed change, the reason for the change, and the desired outcome. This information can be taken from your change management plan but edited to use employee-facing language. It is critical to keep in mind your audience for the presentation.Strategies to Cope: Share at least two specific strategies for your employees to cope with the change. Consider managerial best practices in your proposed strategies for employees.Next Steps: Include at least two next steps that your employees can take if they have any additional questions. This could be a person to contact, an informational packet that will be distributed, a company-wide follow up email, etc. Consider the best method to communicate this information and answer additional questions.Potential Adverse Reactions: Choose at least two potential adverse reactions that you listed in the change management plan. You do not need to list them in the presentation itself; but instead, anticipate the reactions of your employees and include proposed solutions.What to SubmitEvery project has a deliverable or deliverables, which are the files that must be submitted before your project can be assessed. For this project, you must submit the following:Change Management PlanYou will submit a 1,000 to 1,500 word abbreviated change management plan. Be sure to summarize the change, intended outcome, stakeholder reactions, and communication plan. Reference List For each source that you cite, you need to include the author’s name, the publication year, the title of the source, and the location of the source in a References section at the end of your work. Cite all sources appropriately.Change Management PresentationYou will create a four- to six-slide presentation for your employees at Respond to Resolve. In this presentation, you will explain the proposed change as well as provide strategies to mitigate potential adverse reactions. Be sure to use employee-facing language throughout your presentation. Reference List For each source that you cite, you need to include the author’s name, the publication year, the title of the source, and the location of the source in a References section at the end of your work. Cite all sources appropriately.