Description
Scenario: You have been promoted to senior level manager of a company with low employee morale and decreased productivity. You have been tasked with developing a strategic plan for the workforce to present to the CEO and other members of the leadership team.
Choose your organization or one you know well to use for this assignment. You may use the same organization you used in previous weeks.
Develop a 1-year strategic plan of action for your organization
Include plans for any additional staffing and the proposed budget for your plan. Modify your SWOT analysis, if necessary, for your presentation.
Create a 10- to 12-slide PowerPoint® presentation including the following:
- Explain rationale for plan
- Discuss SWOT of organization
- Summarize one year plan of action
- Flowchart of one year plan
- Give an overview of Budget for plan
- Evaluate the potential benefit of the plan
- Write conclusion
Develop a 700-word summary for the Executive team. Append your budget and SWOT analysis to the plan.
assignment consistent with APA guidelines
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Explanation & Answer
Attached.
Running head: OPERATIONAL TACTICS AND STRATEGIC GOALS
Operational Tactics and Strategic Goals
Name
Institution
1
OPERATIONAL TACTICS AND STRATEGIC GOALS
2
Operational Tactics and Strategic Goals
Employee productivity is important in helping to improve the success of the organization.
The focus on the measures that help in increasing productivity encourages the need for the plans
that help in managing the tactics of the organization. The roles and the responsibilities of the
human resource is to enhance the recruitment of the employees and the plans that make the
environment habitable. Productivity is enhanced where there is elimination of conflict and the
management of goals of the organization and this helps in focusing on the different areas that
help in enhancing the employee productivity.
The plan is to ensure that there is increase in the morale of the employees and the
productivity in the long run and this helps in ensuring that there is management of the strategies
of the organization. Where there is decline in morale, there is likelihood that there is increase in
the turnover of the employees and this helps in the management of the issues of the organization.
The plan is to ensure that there is focus on the adaptation measures that help in purposing on the
needs of the business. The increase in the projects of the organization helps in ensuring that there
is reflection on the areas that the employees fail and the strategies that help in increasing
productivity (Miller & Monge, 1986).
Walmart employee productivity is declining and the motivation of the employees is
important in increasing revenues. The plan is to ensure that there is the management of the wages
of the employees in helping to increase the productive measures and enhancing the solving of the
different issues that the employees face. The focus training of the employees and improving their
attitude towards work is important in helping to manage their expectations. Team cohesion is
enhanced where there is increase in the positivity in the organization (Miller & Monge, 1986).
OPERATIONAL TACTICS AND STRATEGIC GOALS
3
Walmart as one of the retailers considers the productivity of the employees and this helps
in in managing the growth and the performance of the employees. One of the strengt...
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Inventory Analysis Excel Spreadsheet
In this project, you will create a worksheet to analyze inventory and financial data for a sporting goods store. Skills ne ...
Inventory Analysis Excel Spreadsheet
In this project, you will create a worksheet to analyze inventory and financial data for a sporting goods store. Skills needed to complete this project: Extracting Text with RIGHT, LEFT, and MID (Skill 6.1)Calculating Totals with SUMPRODUCT (Skill 6.3)Finding the Middle Value with MEDIAN (Skill 6.7)Finding the Most Common Value(s) with MODE.SNGL and MODE.MULT (Skill 6.10) Using SUMIF and SUMIFS (Skill 6.4)Using AVERAGEIF and AVERAGEIFS (Skill 6.5)Using COUNTIF and COUNTIFS (Skill 6.6)Using Database Functions (Skill 6.20)Finding Data with MATCH and INDEX (Skill 6.19)Managing Errors with the IFERROR Function (Skill 6.21)Analyzing Complex Formulas Using Evaluate Formula (Skill 6.22) Calculating Future Value with the FV Function (Skill 6.14) Calculating the Number of Payments with NPER (Skill 6.17)Rounding with Functions (Skill 6.2)Using NPV to Calculate Present Value When Payments Are Variable (Skill 6.16) Creating a Depreciation Schedule (Skill 6.18) Open the start file EX2019-SkillReview-6-2. The file will be renamed automatically to include your name. Change the project file name if directed to do so by your instructor, and save it. If the workbook opens in Protected View, click the Enable Editing button in the Message Bar at the top of the workbook so you can modify the workbook. Start with the Inventory worksheet. Use the LEFT function to extract the category ID from the inventory number. Click in cell F3. Type: =LEFT( Click cell B3. Type: ,2) The formula should look like this: =LEFT(B3,2) Copy the formula to cells F4:F25. Switch to the Analysis worksheet. Use the SUMPRODUCT function to calculate the total value of the inventory. Use the values in the Selling Price column and the corresponding values in the Stock column as the Arrayarguments. Click cell B2. Type: =SUMPRODUCT( Click the Inventory sheet tab, and then click and drag to select cells H3:H25. Type , and then click and drag to select cells I3:I25. Type ) and press Enter. The formula should look like this:=SUMPRODUCT(Inventory!H3:H25,Inventory!I3:I25)Enter a formula to calculate the average selling price. Click cell D2. Type: =AVERAGE( Click the Inventory sheet tab, and then click and drag to select cells H3:H25. Press Enter. The formula should look like this:=AVERAGE(Inventory!H3:H25)Enter a formula to find the middle selling price. Click cell E2. Type: =MEDIAN( Click the Inventory sheet tab, and then click and drag to select cells H3:H25. Press Enter. The formula should look like this:=MEDIAN(Inventory!H3:H25)Enter a formula to find the most common selling price. Click cell F2. Type: =MODE.SNGL( Click the Inventory sheet tab, and then click and drag to select cells H3:H25. Press Enter. The formula should look like this:=MODE.SNGL(Inventory!H3:H25)What if there are multiple selling prices that are the most common? Enter an array formula in cells G2:G5 to find up to four most common selling prices. Select cells G2:G5. Type: =MODE.MULT( Click the Inventory sheet tab, and then click and drag to select cells H3:H25. Press Ctrl + Shift + Enter. The formula should look like this:{=MODE.MULT(Inventory!H3:H25)}Use the SUMIFS function to calculate the total number of blue shoes in inventory. Use the values in the Stock column as the Sum_range argument. Use the values in theItem Description column as the Criteria_range1 argument and use the criteria *shoes to find all items that end in the word shoes. Use the values in the Color column as the Criteria_range2 argument and use the criteria blue. Click cell B3. On the Formulas tab, in the Function Library group, click the Math & Trig button and select SUMIFS. In the Function Arguments dialog, verify that the cursor is in the Sum_rangeargument box. Click the Inventory sheet tab, and click and drag to select cells I3:I25. In the Function Arguments dialog, press Tab to move to the Criteria_range1argument box. Click the Inventory sheet tab, and click and drag to select cells A3:A25. In the Function Arguments dialog, press Tab to move to the Criteria1 argument box. Type "*shoes" to find any text string that ends with the word shoes. Press Tab. Verify that the cursor is in the Criteria_range2 argument box. Click the Inventory sheet tab, and click and drag to select cells C3:C25. In the Function Arguments dialog, press Tab to move to the Criteria2 argument box. Type: "blue" Click OK. The formula should look like this: =SUMIFS(Inventory!I3:I25,Inventory!A3:A25,"*shoes",Inventory!C3:C25,"blue")Use the AVERAGEIFS function to find the average selling price of blue shoes in inventory. Use the values in the Selling Pricecolumn as the Average_range argument. Use the values in the Item Description column as the Criteria_range1 argument and use the criteria *shoes to find all items that end in the word shoes. Use the values in the Colorcolumn as the Criteria_range2 argument and use the criteria blue. Click cell B4. On the Formulas tab, in the Function Library group, click the More Functionsbutton, point to Statistical, and select AVERAGEIFS. In the Function Arguments dialog, verify that the cursor is in the Average_rangeargument box. Click the Inventory sheet tab, and click and drag to select cells H3:H25. In the Function Arguments dialog, press Tab to move to the Criteria_range1argument box. Click the Inventory sheet tab, and click and drag to select cells A3:A25. In the Function Arguments dialog, press Tab to move to the Criteria1 argument box. Type "*shoes" to find any text string that ends with the word shoes. Press Tab. Verify that the cursor is in the Criteria_range2 argument box. Click the Inventory sheet tab, and click and drag to select cells C3:C25. In the Function Arguments dialog, press Tab to move to the Criteria2 argument box. Type: "blue" Click OK. The formula should look like this:=AVERAGEIFS(Inventory!H3:H25,Inventory!A3:A25,"*shoes",Inventory!C3:C25,"blue")Use the COUNTIFS function to find the number of blue shoe inventory items. Use the values in the Item Description column as the Criteria_range1 argument and use the criteria *shoes to find all items that end in the word shoes. Use the values in the Color column as the Criteria_range2 argument and use the criteria blue. Click cell B5. On the Formulas tab, in the Function Library group, click the More Functionsbutton, point to Statistical, and select COUNTIFS. In the Function Arguments dialog, verify that the cursor is in the Criteria_range1argument box. Click the Inventory sheet tab, and click and drag to select cells A3:A25. In the Function Arguments dialog, press Tab to move to the Criteria1 argument box. Type "*shoes" to find any text string that ends with the word shoes. Press Tab. Verify that the cursor is in the Criteria_range2 argument box. Click the Inventory sheet tab, and click and drag to select cells C3:C25. In the Function Arguments dialog, press Tab to move to the Criteria2 argument box. Type: "blue" Click OK. The formula should look like this:=COUNTIFS(Inventory!A3:A25,"*shoes",Inventory!C3:C25,"blue")Now use database functions to analyze inventory data. This method gives you more flexibility in your analysis. Once you set up the formulas, you can change the criteria in the worksheet without changing the formulas. The InventoryDB named range has been created for you to use as the Databaseargument. It references A2:I25 on the Inventory worksheet. Notice this named range includes the label row.Use the DAVERAGE database function to calculate the average selling price for all items with the word Football in the item description. Use the wildcard character * before and after the word Football to find all item descriptions with Football anywhere in the text. Use the column label Selling Price as the Field argument. Remember to enclose the column label in quotation marks. Set up the criteria range. In cell D8, type: Item Description In cell D9, type: *Football* Click cell B9 where you will enter the formula. On the Formulas tab, in the Function Library group, click the Insert Functionbutton. If necessary, expand the Or select a category list, and select Database. Double-click DAVERAGE to open the Function Arguments dialog. In the Database argument box, type the range name: InventoryDB In the Field argument box, type the column label: "Selling Price" Click in the Criteria argument box and then click and drag to select cells D8:D9. Click OK. The formula should look like this:=DAVERAGE(InventoryDB,"Selling Price",D8:D9)Use the DCOUNT database function to calculate the number of items in stock where the item description includes the wordFootball and the selling price is less than $20. Use the wildcard character * before and after the word Football to find all item descriptions with Football anywhere in the text. Use the column label Stock as the Field argument. Remember to enclose the column label in quotation marks. Set up the criteria range. In cell D11, type: Item Description In cell D12, type: *Football* In cell E11, type: Selling Price In cell E12, type: <20 Click cell B12 where you will enter the formula. On the Formulas tab, in the Function Library group, click the Insert Functionbutton. If necessary, expand the Or select a category list, and select Database. Double-click DCOUNT to open the Function Arguments dialog. In the Database argument box, type the range name: InventoryDB In the Field argument box, type the column label: "Stock" Click in the Criteria argument box and then click and drag to select cellsD11:E12. Click OK. The formula should look like this:=DCOUNT(InventoryDB,"Stock",D11:E12)Now use MATCH and INDEX to look up the item description, quantity in stock, and selling price of an item based on the inventory number. The Inventory named range has been created for you to use in these formulas. It references A3:I25 on the Inventoryworksheet. Notice this named range does notinclude the label row.First, use MATCH to find the row position for the item listed in cell B15. Remember, the Lookup_array argument must be a single column. Require an exact match. Use absolute references so you can copy the formula. Click cell B16. On the Formulas tab, in the Function Library group, click the Lookup & Reference button, and select MATCH. Use an absolute reference to cell B15for the Lookup_value argument. Type $B$15 and then press Tab. Verify that the cursor is in the Lookup_array argument box. Click theInventory sheet tab and click and drag to select cells B3:B25. Edit the cell references to be absolute. In the Match_type argument box, type: 0 Click OK. The formula should look like this: =MATCH($B$15,Inventory!$B$3:$B$25,0)Now add an INDEX function around the MATCH function to find the item description (column 1 ) for the row position identified by the MATCH function. Use the named range Inventory as the Array argument. If necessary, select cell B16 again, and then click in the formula bar so you can edit the formula. After the =, type: INDEX(Inventory, Move the cursor to the end of the formula and type: ,1) Press Enter. The formula should now look like this:=INDEX(Inventory,MATCH($B$15,Inventory!$B$3:$B$25,0),1)Add an IFERROR function around the INDEX function to hide any error messages by displaying an empty text string (""). If necessary, select cell B16 again, and then click in the formula bar so you can edit the formula. After the =, type: IFERROR( Move the cursor to the end of the formula and type: ,"") Press Enter. The formula should now look like this:=IFERROR(INDEX(Inventory,MATCH($B$15,Inventory!$B$3:$B$25,0),1),"") Copy the formula from cell B16 to cells B17:B18. Modify the formula in cell B17 to use 9 as the Column_num argument for the INDEX function. The formula should look like this:=IFERROR(INDEX(Inventory,MATCH($B$15,Inventory!$B$3:$B$25,0),9),"") Modify the formula in cell B18 to use 7 as the Column_num argument for the INDEX function. The formula should look like this:=IFERROR(INDEX(Inventory,MATCH($B$15,Inventory!$B$3:$B$25,0),7),"") If necessary, apply the Accounting Number Format to cell B18. Enter a formula using RANK.EQ to calculate the ranking of this item’s price. Click cell B19. On the Formulas tab, in the Function Library group, click the More Functionsbutton, point to Statistical, and select RANK.EQ. In the Number argument box, type 1.50 and then press Tab. Verify that the cursor is in the Refargument box. Click the Inventory sheet tab and click and drag to select cellsG3:G25. Edit the cell references to be absolute. Click OK. Save the file.If you are having trouble with these formulas, use the Evaluate Formula feature to review the results of the nested formulas. Select the cell containing the formula you want to evaluate. On the Formulas tab, in the Formula Auditing group, click the Evaluate Formula button. Use the Step In, Evaluate, and Step Out buttons as necessary until you have a clear understanding of how the nested INDEX and MATCH formulas work together. Hank’s Sporting Goods is considering taking out a $25,000 loan to pay for inventory. The details of that loan are shown on the Financials worksheet in cells C2:D6. You will help Hank calculate how much money he would make if he invested those same monthly payments in a money market account instead. Calculate the theoretical future value of the same amount deposited monthly in a money market account. Switch to the Financials worksheet. Click cell D9. On the Formulas tab, in the Function Library group, click the Financial button, and select FV. Enter the Rate argument, referring to the money market interest rate in cell B4. The rate is expressed as an annual interest rate, and payments will be monthly, so divide the interest rate by 12: B4/12 Enter the Nper argument, referring to cell D5. There will be monthly payments, so multiply the number of years by 12: D5*12 Enter the Pmt argument referring to the cell showing the monthly payment amount for the loan: D4Notice that the loan payment is already expressed as a negative number so there is no need to alter the Pmt argument. There is no value in the investment prior to the first investment period, so you can skip the Pv argument. Deposits would be scheduled for the beginning of each payment period. Enter the appropriate Type argument: 1 Click OK. The formula in cell D10 should look like this:=FV(B4/12,D5*12,D4,,1) Save the file.Hank would like to consider another loan option with the same loan amount and the same interest rate. How many months would it take to pay off the loan if he paid a flat $1,000 every month? Click cell D13. On the Formulas tab, in the Function Library group, click the Financial button, and select NPER. Enter the Rate argument, referring to the loan interest rate in cell B3. The rate is expressed as an annual interest rate, and payments will be monthly, so divide the interest rate by 12: B3/12 Enter the Pmt argument referring to the cell showing the new monthly payment amount for the loan: D12Notice that the loan payment is already expressed as a negative number so there is no need to alter the Pmt argument. Enter the Pv argument referring to the original loan amount in cell D3. The loan will be completely paid off, so you can skip the Fv argument. Payments would be applied at the end of each payment period, so you can skip the Type argument. Click OK. The formula in cell D13 should look like this:=NPER(B3/12,D12,D3)Hank is easily confused by too many digits after the decimal point, so add a ROUND function to round the number of months to zero decimal places. If necessary, click cell D13 again. In the formula bar, add the ROUND function using the existing FV function as the Number argument and 0 as the Num_digits argument. The formula should now look like this: =ROUND(NPER(B3/12,D12,D3),0)Hank has another financial question for you. He needs to decide between three equipment purchase options. Option 1 is the least expensive and will require minimal repairs. It will generate the lowest increase in revenue. Option 2 is $10,000 more than Option 1 and will generate a higher increase in revenue, but it will require significant repairs in year 5 and will begin declining in productivity in year 7. Option 3 is the most expensive. It will also generate the highest increase in revenue. However, it will require more frequent and expensive repairs than the other two options.Enter the formula to calculate net present value for Option 1 using the revenue schedule in cells B9:B18. Use a discount rate of 1.5%. Click the Equipment Decisionworksheet. Click cell B5. Type: =NPV( Type: 1.5%, Click and drag to select cells B9:B18. Type ) and then press Enter to complete the formula: =NPV(1.5%,B9:B18) Copy the formula in cell B5 to cells C5 and D5 to calculate the NPV for Option 2 and Option 3. Format cells B5:D5 with the Accounting Number Format. Calculate the true cost of the investment by adding the initial investment (the purchase cost) to the calculated NPV amount: In cell B6 enter the formula as follows: =B4+B5 Copy the formula in cell B6 to cells C6and D6. Use the Thick Outside Borders option to place a border around cells D3:D6 to highlight the best investment option. Now calculate two alternative depreciation schedules for the selected equipment option. First, set up the values that will be used for the common arguments Cost, Life, and Salvage. In cell G3, enter a reference to cell D4. For the depreciation schedule, the cost value should be a positive number, so precede the cell reference with a - character: =-D4 In cell G4, enter the useful life of the equipment: 10 In cell G5, enter the salvage value of the equipment. Calculate this as 20% of the cost: =G3*0.2In cell J4, enter the formula to calculate depreciation for year 1 using the declining balance method. On the Formulas tab, in the Function Library group, click the Financial button, and then select DB. Enter the Cost argument as an absolute cell reference so the reference will not update when you copy the formula: $G$3 Enter the Salvage argument as an absolute cell reference so the reference will not update when you copy the formula: $G$5 Enter the Life argument as an absolute cell reference so the reference will not update when you copy the formula: $G$4 Enter the Period argument as a relative cell reference so the reference will update when you copy the formula: I4 The equipment will be in use for 12 months during the first year, so you can skip the Month argument. Click OK. The formula in cell J4 should look like this:=DB($G$3,$G$5,$G$4,I4) Copy the formula to J5:J13.In cell K4, enter the formula to calculate depreciation for year 1 using the straight-line method. On the Formulas tab, in the Function Library group, click the Financial button, and then select SLN. Enter the Cost argument as an absolute cell reference so the reference will not update when you copy the formula: $G$3 Enter the Salvage argument as an absolute cell reference so the reference will not update when you copy the formula: $G$5 Enter the Life argument as an absolute cell reference so the reference will not update when you copy the formula: $G$4 Click OK. The formula in cell K4 should look like this:=SLN($G$3,$G$5,$G$4) Copy the formula to K5:K13. Notice that the straight-line method returns the same depreciation value for each period in the schedule. Save and close the workbook.
Ethics Accounting Discussion Questions
1. Choose someone from the business or accounting world who you think is an authentic leader and explain why you believe t ...
Ethics Accounting Discussion Questions
1. Choose someone from the business or accounting world who you think is an authentic leader and explain why you believe that to be true.2. Distinguish between authentic leadership, transformational leadership, and servant leadership. Are all necessary to change individuals and social systems within an organization? 4. Values-driven leadership as envisioned in the Giving Voice to Values technique poses the following question: Once I know what is right, how do I get it done and get it done effectively? Discuss how an authentic leader would go about addressing this question.6. It might be said that an effective, ethical leader is one who adheres to ‘situational’ ethics. Explain what this means. Do you agree?11. Why do you think studies show that no single factor has a bigger impact on the ethicality of a firm’s culture than the personal examples set by firm leaders?Mintz, Steven; Mintz, Steven. Ethical Obligations and Decision-Making in Accounting: Text and Cases (Page 510). McGraw-Hill Higher Education. Kindle Edition.
5-1 Final Project Milestone Two: Technology Solutions and Recommendations
Below is the response from my Instructor from Milestone 1, also i have included Milestone 2 rubric with it:IT 210 Mileston ...
5-1 Final Project Milestone Two: Technology Solutions and Recommendations
Below is the response from my Instructor from Milestone 1, also i have included Milestone 2 rubric with it:IT 210 Milestone One Rubric feedback: Dear LuckyMilestone One was worth a total of 100 points.As mentioned in earlier announcements and emails, it is important to address each part of the Milestone One Rubric individually and in detail.I gave some formatting ideas to help ensure that all parts of the rubric were addressed but it was not required that you follow my formatting suggestions.If you did not earn full credit for a specific section of the rubric, I have added comments under that section.Please make improvements based on my comments so you can get full credit when you apply Milestone One to the Final Project.General Comments: Your Milestone One included some good content but some important sections were skipped.Following the recommended formatting would ensure that you do not miss any of the key requirements.You should use the Final Project Template and be sure to use APA formatting.If you have any questions, please feel free to ask.Regards,Prof. WhitakerPlease see the comments for the following Rubrics:Introduction: State the Problem: Please describe the problem in more detail in the Final Project. Provide specific information about the business in question and not just businesses in general.Introduction: Two Technologies: This topic should have a header and paragraph of its own. It should not be combined with other sections of the paper.Specifically define the two technologies you chose.Business Requirements: Objectives: More detail needed for objectives. This topic should have a header and paragraph of its own. It should not be combined with other sections of the paper.Business Requirements: Project Description: I could not find the project description. This topic should have a header and paragraph of its own. It should not be combined with other sections of the paper.Business Requirements: Technological Requirements: Technology requirements should include a discussion of software, hardware, and or cloud-based requirements.Competitors and Technology: Technology One: I could not find this section regarding competitors.Competitors and Technology: Technology Two: I could not find this section regarding competitors.Competitors and Technology: Benefitting From Technology: I could not find this section regarding competitors benefiting. Articulation of Response: Due to the lack of formatting, this paper was difficult to read. Please use the Final Project template.Milestone 2:InstructionsThis assignment is the second milestone that you will complete for your final project. This is an important practice opportunity to draft this section now and get instructor feedback that will help you improve upon your final submission. This is graded differently than the final project given this is a practice opportunity. Review the rubric for full details.If you have not already reviewed your feedback from your instructor on Milestone One do so now. Make any corrections or adjustments to improve upon that section of your draft so that you are working from good premises before beginning this Milestone which depends on that information.To complete this assignment, review the Milestone Two Guidelines and Rubric document below and also follow the Final project template.https://learn.snhu.edu/d2l/lor/viewer/viewFile.d2l...
Discussion reply to two peers and two teams only( 65 words for each)
You are only to respond to the two peers as what they wrote as it pertains to the main discussion question and read in the ...
Discussion reply to two peers and two teams only( 65 words for each)
You are only to respond to the two peers as what they wrote as it pertains to the main discussion question and read in the main discussion post how you are suppose to respond to peers (65 words each) And for Discussion question #2, you are to also read what discussion #2 says about responding to two teams and that is 65 words each as well
Grantham University Week 4 Business Agent Union Membership Questions
1.Differentiate among the business agent of a local union, a shop steward, and an international union representative. How ...
Grantham University Week 4 Business Agent Union Membership Questions
1.Differentiate among the business agent of a local union, a shop steward, and an international union representative. How do their roles differ? 2.Discuss your opinion regarding whether unions are still relevant and necessary in today’s work environment. What other means might be used to ensure ‘‘employee voice’’ in the workplace? 3.Discuss some employer tactics used to prevent or minimize union membership growth prior to the passage of the National Labor Relations (Wagner) Act in 1935. Which, if any, of these tactics would be lawful today? What anti-union tactics are used today? 4.How were the yellow-dog contracts and labor injunctions used to limit activities of union organizers or slow union growth? 5.Although the National Labor Relations Act gives employees certain rights, these rights are not unlimited. Discuss.
MGT312 SEU Decision Making and Problem Solving Worksheet
Course Learning Outcomes-Covered
Identify and analyze different perspectives on understan ...
MGT312 SEU Decision Making and Problem Solving Worksheet
Course Learning Outcomes-Covered
Identify and analyze different perspectives on understanding problems for different situations. (3.1)
Utilize different decision making tools to enhance problem solving and decision making approaches. (4.3)
Develop numerical skills required for quantitative decisions in complex situations. (4.1)
Create a Decision Making and Problem Solving worksheet document. (4.5)
Assignment Questions:(Marks 10)
Talal has completed his Master’s in Business from SEU. Talal’s hobby is body building. He bagged several awards in body building. His father has a small jewelry shop. His mother running a beauty salon, while brother has a car rental service.
Talal is thinking seriously about his future. He realized that this is not the end, but the beginning of another phase of life. It is time to plan his future career. He doesn’t want to do any job. He want to do business but how and what business?
Talal is confused about what kind of business should he start, traditional or e-commerce? Though his family is running a traditional business, Talal has heard and learnt lots about the e-Business and e-marketing.The question he need to deal with whether he should join his father’s or brother’s business or he should do his own.He is also considering the financial aspects. Should he take from father? Or bank or other sources such as partnership, etc.
Therefore, this is a question with no easy solution. Considering the above situation prepare a Decision Making and Problem Solving Worksheet answering the following question:
Step 1: Defining and Clarifying the Question (1 Mark)
Step 2: Develop mind mapping for the alternative (2 Marks)
Step 3: Generating Alternatives (1 Mark)
Step 4: Variables to consider (1 Mark)
Step 5: Weighing the considerations (2 Mark)
You may notice that the variables to consider are not of equal importance. Therefore, you need to weigh how important each variable is before you make your decision. In this activity, the following rating scale can be used:
5
Very important
4
Considerably important
3
Neither important nor unimportant
2
Not very important
1
Not important at all
Step 6: Weighing the alternatives (2 mark)
When weighing the various alternatives, how well each alternative fulfills the variables to consider can be expressed as scores. A different rating scale will be used to assess each alternative:
+2 very suitable
+1 quite suitable
0 neither suitable nor unsuitable
-1 not quite suitable
-2 not suitable at all
Note: Positive numbers (+2 or +1) indicate that the alternative is able to fulfill the variables, whereas negative numbers (-2 or -1) denote the opposite.
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Inventory Analysis Excel Spreadsheet
In this project, you will create a worksheet to analyze inventory and financial data for a sporting goods store. Skills ne ...
Inventory Analysis Excel Spreadsheet
In this project, you will create a worksheet to analyze inventory and financial data for a sporting goods store. Skills needed to complete this project: Extracting Text with RIGHT, LEFT, and MID (Skill 6.1)Calculating Totals with SUMPRODUCT (Skill 6.3)Finding the Middle Value with MEDIAN (Skill 6.7)Finding the Most Common Value(s) with MODE.SNGL and MODE.MULT (Skill 6.10) Using SUMIF and SUMIFS (Skill 6.4)Using AVERAGEIF and AVERAGEIFS (Skill 6.5)Using COUNTIF and COUNTIFS (Skill 6.6)Using Database Functions (Skill 6.20)Finding Data with MATCH and INDEX (Skill 6.19)Managing Errors with the IFERROR Function (Skill 6.21)Analyzing Complex Formulas Using Evaluate Formula (Skill 6.22) Calculating Future Value with the FV Function (Skill 6.14) Calculating the Number of Payments with NPER (Skill 6.17)Rounding with Functions (Skill 6.2)Using NPV to Calculate Present Value When Payments Are Variable (Skill 6.16) Creating a Depreciation Schedule (Skill 6.18) Open the start file EX2019-SkillReview-6-2. The file will be renamed automatically to include your name. Change the project file name if directed to do so by your instructor, and save it. If the workbook opens in Protected View, click the Enable Editing button in the Message Bar at the top of the workbook so you can modify the workbook. Start with the Inventory worksheet. Use the LEFT function to extract the category ID from the inventory number. Click in cell F3. Type: =LEFT( Click cell B3. Type: ,2) The formula should look like this: =LEFT(B3,2) Copy the formula to cells F4:F25. Switch to the Analysis worksheet. Use the SUMPRODUCT function to calculate the total value of the inventory. Use the values in the Selling Price column and the corresponding values in the Stock column as the Arrayarguments. Click cell B2. Type: =SUMPRODUCT( Click the Inventory sheet tab, and then click and drag to select cells H3:H25. Type , and then click and drag to select cells I3:I25. Type ) and press Enter. The formula should look like this:=SUMPRODUCT(Inventory!H3:H25,Inventory!I3:I25)Enter a formula to calculate the average selling price. Click cell D2. Type: =AVERAGE( Click the Inventory sheet tab, and then click and drag to select cells H3:H25. Press Enter. The formula should look like this:=AVERAGE(Inventory!H3:H25)Enter a formula to find the middle selling price. Click cell E2. Type: =MEDIAN( Click the Inventory sheet tab, and then click and drag to select cells H3:H25. Press Enter. The formula should look like this:=MEDIAN(Inventory!H3:H25)Enter a formula to find the most common selling price. Click cell F2. Type: =MODE.SNGL( Click the Inventory sheet tab, and then click and drag to select cells H3:H25. Press Enter. The formula should look like this:=MODE.SNGL(Inventory!H3:H25)What if there are multiple selling prices that are the most common? Enter an array formula in cells G2:G5 to find up to four most common selling prices. Select cells G2:G5. Type: =MODE.MULT( Click the Inventory sheet tab, and then click and drag to select cells H3:H25. Press Ctrl + Shift + Enter. The formula should look like this:{=MODE.MULT(Inventory!H3:H25)}Use the SUMIFS function to calculate the total number of blue shoes in inventory. Use the values in the Stock column as the Sum_range argument. Use the values in theItem Description column as the Criteria_range1 argument and use the criteria *shoes to find all items that end in the word shoes. Use the values in the Color column as the Criteria_range2 argument and use the criteria blue. Click cell B3. On the Formulas tab, in the Function Library group, click the Math & Trig button and select SUMIFS. In the Function Arguments dialog, verify that the cursor is in the Sum_rangeargument box. Click the Inventory sheet tab, and click and drag to select cells I3:I25. In the Function Arguments dialog, press Tab to move to the Criteria_range1argument box. Click the Inventory sheet tab, and click and drag to select cells A3:A25. In the Function Arguments dialog, press Tab to move to the Criteria1 argument box. Type "*shoes" to find any text string that ends with the word shoes. Press Tab. Verify that the cursor is in the Criteria_range2 argument box. Click the Inventory sheet tab, and click and drag to select cells C3:C25. In the Function Arguments dialog, press Tab to move to the Criteria2 argument box. Type: "blue" Click OK. The formula should look like this: =SUMIFS(Inventory!I3:I25,Inventory!A3:A25,"*shoes",Inventory!C3:C25,"blue")Use the AVERAGEIFS function to find the average selling price of blue shoes in inventory. Use the values in the Selling Pricecolumn as the Average_range argument. Use the values in the Item Description column as the Criteria_range1 argument and use the criteria *shoes to find all items that end in the word shoes. Use the values in the Colorcolumn as the Criteria_range2 argument and use the criteria blue. Click cell B4. On the Formulas tab, in the Function Library group, click the More Functionsbutton, point to Statistical, and select AVERAGEIFS. In the Function Arguments dialog, verify that the cursor is in the Average_rangeargument box. Click the Inventory sheet tab, and click and drag to select cells H3:H25. In the Function Arguments dialog, press Tab to move to the Criteria_range1argument box. Click the Inventory sheet tab, and click and drag to select cells A3:A25. In the Function Arguments dialog, press Tab to move to the Criteria1 argument box. Type "*shoes" to find any text string that ends with the word shoes. Press Tab. Verify that the cursor is in the Criteria_range2 argument box. Click the Inventory sheet tab, and click and drag to select cells C3:C25. In the Function Arguments dialog, press Tab to move to the Criteria2 argument box. Type: "blue" Click OK. The formula should look like this:=AVERAGEIFS(Inventory!H3:H25,Inventory!A3:A25,"*shoes",Inventory!C3:C25,"blue")Use the COUNTIFS function to find the number of blue shoe inventory items. Use the values in the Item Description column as the Criteria_range1 argument and use the criteria *shoes to find all items that end in the word shoes. Use the values in the Color column as the Criteria_range2 argument and use the criteria blue. Click cell B5. On the Formulas tab, in the Function Library group, click the More Functionsbutton, point to Statistical, and select COUNTIFS. In the Function Arguments dialog, verify that the cursor is in the Criteria_range1argument box. Click the Inventory sheet tab, and click and drag to select cells A3:A25. In the Function Arguments dialog, press Tab to move to the Criteria1 argument box. Type "*shoes" to find any text string that ends with the word shoes. Press Tab. Verify that the cursor is in the Criteria_range2 argument box. Click the Inventory sheet tab, and click and drag to select cells C3:C25. In the Function Arguments dialog, press Tab to move to the Criteria2 argument box. Type: "blue" Click OK. The formula should look like this:=COUNTIFS(Inventory!A3:A25,"*shoes",Inventory!C3:C25,"blue")Now use database functions to analyze inventory data. This method gives you more flexibility in your analysis. Once you set up the formulas, you can change the criteria in the worksheet without changing the formulas. The InventoryDB named range has been created for you to use as the Databaseargument. It references A2:I25 on the Inventory worksheet. Notice this named range includes the label row.Use the DAVERAGE database function to calculate the average selling price for all items with the word Football in the item description. Use the wildcard character * before and after the word Football to find all item descriptions with Football anywhere in the text. Use the column label Selling Price as the Field argument. Remember to enclose the column label in quotation marks. Set up the criteria range. In cell D8, type: Item Description In cell D9, type: *Football* Click cell B9 where you will enter the formula. On the Formulas tab, in the Function Library group, click the Insert Functionbutton. If necessary, expand the Or select a category list, and select Database. Double-click DAVERAGE to open the Function Arguments dialog. In the Database argument box, type the range name: InventoryDB In the Field argument box, type the column label: "Selling Price" Click in the Criteria argument box and then click and drag to select cells D8:D9. Click OK. The formula should look like this:=DAVERAGE(InventoryDB,"Selling Price",D8:D9)Use the DCOUNT database function to calculate the number of items in stock where the item description includes the wordFootball and the selling price is less than $20. Use the wildcard character * before and after the word Football to find all item descriptions with Football anywhere in the text. Use the column label Stock as the Field argument. Remember to enclose the column label in quotation marks. Set up the criteria range. In cell D11, type: Item Description In cell D12, type: *Football* In cell E11, type: Selling Price In cell E12, type: <20 Click cell B12 where you will enter the formula. On the Formulas tab, in the Function Library group, click the Insert Functionbutton. If necessary, expand the Or select a category list, and select Database. Double-click DCOUNT to open the Function Arguments dialog. In the Database argument box, type the range name: InventoryDB In the Field argument box, type the column label: "Stock" Click in the Criteria argument box and then click and drag to select cellsD11:E12. Click OK. The formula should look like this:=DCOUNT(InventoryDB,"Stock",D11:E12)Now use MATCH and INDEX to look up the item description, quantity in stock, and selling price of an item based on the inventory number. The Inventory named range has been created for you to use in these formulas. It references A3:I25 on the Inventoryworksheet. Notice this named range does notinclude the label row.First, use MATCH to find the row position for the item listed in cell B15. Remember, the Lookup_array argument must be a single column. Require an exact match. Use absolute references so you can copy the formula. Click cell B16. On the Formulas tab, in the Function Library group, click the Lookup & Reference button, and select MATCH. Use an absolute reference to cell B15for the Lookup_value argument. Type $B$15 and then press Tab. Verify that the cursor is in the Lookup_array argument box. Click theInventory sheet tab and click and drag to select cells B3:B25. Edit the cell references to be absolute. In the Match_type argument box, type: 0 Click OK. The formula should look like this: =MATCH($B$15,Inventory!$B$3:$B$25,0)Now add an INDEX function around the MATCH function to find the item description (column 1 ) for the row position identified by the MATCH function. Use the named range Inventory as the Array argument. If necessary, select cell B16 again, and then click in the formula bar so you can edit the formula. After the =, type: INDEX(Inventory, Move the cursor to the end of the formula and type: ,1) Press Enter. The formula should now look like this:=INDEX(Inventory,MATCH($B$15,Inventory!$B$3:$B$25,0),1)Add an IFERROR function around the INDEX function to hide any error messages by displaying an empty text string (""). If necessary, select cell B16 again, and then click in the formula bar so you can edit the formula. After the =, type: IFERROR( Move the cursor to the end of the formula and type: ,"") Press Enter. The formula should now look like this:=IFERROR(INDEX(Inventory,MATCH($B$15,Inventory!$B$3:$B$25,0),1),"") Copy the formula from cell B16 to cells B17:B18. Modify the formula in cell B17 to use 9 as the Column_num argument for the INDEX function. The formula should look like this:=IFERROR(INDEX(Inventory,MATCH($B$15,Inventory!$B$3:$B$25,0),9),"") Modify the formula in cell B18 to use 7 as the Column_num argument for the INDEX function. The formula should look like this:=IFERROR(INDEX(Inventory,MATCH($B$15,Inventory!$B$3:$B$25,0),7),"") If necessary, apply the Accounting Number Format to cell B18. Enter a formula using RANK.EQ to calculate the ranking of this item’s price. Click cell B19. On the Formulas tab, in the Function Library group, click the More Functionsbutton, point to Statistical, and select RANK.EQ. In the Number argument box, type 1.50 and then press Tab. Verify that the cursor is in the Refargument box. Click the Inventory sheet tab and click and drag to select cellsG3:G25. Edit the cell references to be absolute. Click OK. Save the file.If you are having trouble with these formulas, use the Evaluate Formula feature to review the results of the nested formulas. Select the cell containing the formula you want to evaluate. On the Formulas tab, in the Formula Auditing group, click the Evaluate Formula button. Use the Step In, Evaluate, and Step Out buttons as necessary until you have a clear understanding of how the nested INDEX and MATCH formulas work together. Hank’s Sporting Goods is considering taking out a $25,000 loan to pay for inventory. The details of that loan are shown on the Financials worksheet in cells C2:D6. You will help Hank calculate how much money he would make if he invested those same monthly payments in a money market account instead. Calculate the theoretical future value of the same amount deposited monthly in a money market account. Switch to the Financials worksheet. Click cell D9. On the Formulas tab, in the Function Library group, click the Financial button, and select FV. Enter the Rate argument, referring to the money market interest rate in cell B4. The rate is expressed as an annual interest rate, and payments will be monthly, so divide the interest rate by 12: B4/12 Enter the Nper argument, referring to cell D5. There will be monthly payments, so multiply the number of years by 12: D5*12 Enter the Pmt argument referring to the cell showing the monthly payment amount for the loan: D4Notice that the loan payment is already expressed as a negative number so there is no need to alter the Pmt argument. There is no value in the investment prior to the first investment period, so you can skip the Pv argument. Deposits would be scheduled for the beginning of each payment period. Enter the appropriate Type argument: 1 Click OK. The formula in cell D10 should look like this:=FV(B4/12,D5*12,D4,,1) Save the file.Hank would like to consider another loan option with the same loan amount and the same interest rate. How many months would it take to pay off the loan if he paid a flat $1,000 every month? Click cell D13. On the Formulas tab, in the Function Library group, click the Financial button, and select NPER. Enter the Rate argument, referring to the loan interest rate in cell B3. The rate is expressed as an annual interest rate, and payments will be monthly, so divide the interest rate by 12: B3/12 Enter the Pmt argument referring to the cell showing the new monthly payment amount for the loan: D12Notice that the loan payment is already expressed as a negative number so there is no need to alter the Pmt argument. Enter the Pv argument referring to the original loan amount in cell D3. The loan will be completely paid off, so you can skip the Fv argument. Payments would be applied at the end of each payment period, so you can skip the Type argument. Click OK. The formula in cell D13 should look like this:=NPER(B3/12,D12,D3)Hank is easily confused by too many digits after the decimal point, so add a ROUND function to round the number of months to zero decimal places. If necessary, click cell D13 again. In the formula bar, add the ROUND function using the existing FV function as the Number argument and 0 as the Num_digits argument. The formula should now look like this: =ROUND(NPER(B3/12,D12,D3),0)Hank has another financial question for you. He needs to decide between three equipment purchase options. Option 1 is the least expensive and will require minimal repairs. It will generate the lowest increase in revenue. Option 2 is $10,000 more than Option 1 and will generate a higher increase in revenue, but it will require significant repairs in year 5 and will begin declining in productivity in year 7. Option 3 is the most expensive. It will also generate the highest increase in revenue. However, it will require more frequent and expensive repairs than the other two options.Enter the formula to calculate net present value for Option 1 using the revenue schedule in cells B9:B18. Use a discount rate of 1.5%. Click the Equipment Decisionworksheet. Click cell B5. Type: =NPV( Type: 1.5%, Click and drag to select cells B9:B18. Type ) and then press Enter to complete the formula: =NPV(1.5%,B9:B18) Copy the formula in cell B5 to cells C5 and D5 to calculate the NPV for Option 2 and Option 3. Format cells B5:D5 with the Accounting Number Format. Calculate the true cost of the investment by adding the initial investment (the purchase cost) to the calculated NPV amount: In cell B6 enter the formula as follows: =B4+B5 Copy the formula in cell B6 to cells C6and D6. Use the Thick Outside Borders option to place a border around cells D3:D6 to highlight the best investment option. Now calculate two alternative depreciation schedules for the selected equipment option. First, set up the values that will be used for the common arguments Cost, Life, and Salvage. In cell G3, enter a reference to cell D4. For the depreciation schedule, the cost value should be a positive number, so precede the cell reference with a - character: =-D4 In cell G4, enter the useful life of the equipment: 10 In cell G5, enter the salvage value of the equipment. Calculate this as 20% of the cost: =G3*0.2In cell J4, enter the formula to calculate depreciation for year 1 using the declining balance method. On the Formulas tab, in the Function Library group, click the Financial button, and then select DB. Enter the Cost argument as an absolute cell reference so the reference will not update when you copy the formula: $G$3 Enter the Salvage argument as an absolute cell reference so the reference will not update when you copy the formula: $G$5 Enter the Life argument as an absolute cell reference so the reference will not update when you copy the formula: $G$4 Enter the Period argument as a relative cell reference so the reference will update when you copy the formula: I4 The equipment will be in use for 12 months during the first year, so you can skip the Month argument. Click OK. The formula in cell J4 should look like this:=DB($G$3,$G$5,$G$4,I4) Copy the formula to J5:J13.In cell K4, enter the formula to calculate depreciation for year 1 using the straight-line method. On the Formulas tab, in the Function Library group, click the Financial button, and then select SLN. Enter the Cost argument as an absolute cell reference so the reference will not update when you copy the formula: $G$3 Enter the Salvage argument as an absolute cell reference so the reference will not update when you copy the formula: $G$5 Enter the Life argument as an absolute cell reference so the reference will not update when you copy the formula: $G$4 Click OK. The formula in cell K4 should look like this:=SLN($G$3,$G$5,$G$4) Copy the formula to K5:K13. Notice that the straight-line method returns the same depreciation value for each period in the schedule. Save and close the workbook.
Ethics Accounting Discussion Questions
1. Choose someone from the business or accounting world who you think is an authentic leader and explain why you believe t ...
Ethics Accounting Discussion Questions
1. Choose someone from the business or accounting world who you think is an authentic leader and explain why you believe that to be true.2. Distinguish between authentic leadership, transformational leadership, and servant leadership. Are all necessary to change individuals and social systems within an organization? 4. Values-driven leadership as envisioned in the Giving Voice to Values technique poses the following question: Once I know what is right, how do I get it done and get it done effectively? Discuss how an authentic leader would go about addressing this question.6. It might be said that an effective, ethical leader is one who adheres to ‘situational’ ethics. Explain what this means. Do you agree?11. Why do you think studies show that no single factor has a bigger impact on the ethicality of a firm’s culture than the personal examples set by firm leaders?Mintz, Steven; Mintz, Steven. Ethical Obligations and Decision-Making in Accounting: Text and Cases (Page 510). McGraw-Hill Higher Education. Kindle Edition.
5-1 Final Project Milestone Two: Technology Solutions and Recommendations
Below is the response from my Instructor from Milestone 1, also i have included Milestone 2 rubric with it:IT 210 Mileston ...
5-1 Final Project Milestone Two: Technology Solutions and Recommendations
Below is the response from my Instructor from Milestone 1, also i have included Milestone 2 rubric with it:IT 210 Milestone One Rubric feedback: Dear LuckyMilestone One was worth a total of 100 points.As mentioned in earlier announcements and emails, it is important to address each part of the Milestone One Rubric individually and in detail.I gave some formatting ideas to help ensure that all parts of the rubric were addressed but it was not required that you follow my formatting suggestions.If you did not earn full credit for a specific section of the rubric, I have added comments under that section.Please make improvements based on my comments so you can get full credit when you apply Milestone One to the Final Project.General Comments: Your Milestone One included some good content but some important sections were skipped.Following the recommended formatting would ensure that you do not miss any of the key requirements.You should use the Final Project Template and be sure to use APA formatting.If you have any questions, please feel free to ask.Regards,Prof. WhitakerPlease see the comments for the following Rubrics:Introduction: State the Problem: Please describe the problem in more detail in the Final Project. Provide specific information about the business in question and not just businesses in general.Introduction: Two Technologies: This topic should have a header and paragraph of its own. It should not be combined with other sections of the paper.Specifically define the two technologies you chose.Business Requirements: Objectives: More detail needed for objectives. This topic should have a header and paragraph of its own. It should not be combined with other sections of the paper.Business Requirements: Project Description: I could not find the project description. This topic should have a header and paragraph of its own. It should not be combined with other sections of the paper.Business Requirements: Technological Requirements: Technology requirements should include a discussion of software, hardware, and or cloud-based requirements.Competitors and Technology: Technology One: I could not find this section regarding competitors.Competitors and Technology: Technology Two: I could not find this section regarding competitors.Competitors and Technology: Benefitting From Technology: I could not find this section regarding competitors benefiting. Articulation of Response: Due to the lack of formatting, this paper was difficult to read. Please use the Final Project template.Milestone 2:InstructionsThis assignment is the second milestone that you will complete for your final project. This is an important practice opportunity to draft this section now and get instructor feedback that will help you improve upon your final submission. This is graded differently than the final project given this is a practice opportunity. Review the rubric for full details.If you have not already reviewed your feedback from your instructor on Milestone One do so now. Make any corrections or adjustments to improve upon that section of your draft so that you are working from good premises before beginning this Milestone which depends on that information.To complete this assignment, review the Milestone Two Guidelines and Rubric document below and also follow the Final project template.https://learn.snhu.edu/d2l/lor/viewer/viewFile.d2l...
Discussion reply to two peers and two teams only( 65 words for each)
You are only to respond to the two peers as what they wrote as it pertains to the main discussion question and read in the ...
Discussion reply to two peers and two teams only( 65 words for each)
You are only to respond to the two peers as what they wrote as it pertains to the main discussion question and read in the main discussion post how you are suppose to respond to peers (65 words each) And for Discussion question #2, you are to also read what discussion #2 says about responding to two teams and that is 65 words each as well
Grantham University Week 4 Business Agent Union Membership Questions
1.Differentiate among the business agent of a local union, a shop steward, and an international union representative. How ...
Grantham University Week 4 Business Agent Union Membership Questions
1.Differentiate among the business agent of a local union, a shop steward, and an international union representative. How do their roles differ? 2.Discuss your opinion regarding whether unions are still relevant and necessary in today’s work environment. What other means might be used to ensure ‘‘employee voice’’ in the workplace? 3.Discuss some employer tactics used to prevent or minimize union membership growth prior to the passage of the National Labor Relations (Wagner) Act in 1935. Which, if any, of these tactics would be lawful today? What anti-union tactics are used today? 4.How were the yellow-dog contracts and labor injunctions used to limit activities of union organizers or slow union growth? 5.Although the National Labor Relations Act gives employees certain rights, these rights are not unlimited. Discuss.
MGT312 SEU Decision Making and Problem Solving Worksheet
Course Learning Outcomes-Covered
Identify and analyze different perspectives on understan ...
MGT312 SEU Decision Making and Problem Solving Worksheet
Course Learning Outcomes-Covered
Identify and analyze different perspectives on understanding problems for different situations. (3.1)
Utilize different decision making tools to enhance problem solving and decision making approaches. (4.3)
Develop numerical skills required for quantitative decisions in complex situations. (4.1)
Create a Decision Making and Problem Solving worksheet document. (4.5)
Assignment Questions:(Marks 10)
Talal has completed his Master’s in Business from SEU. Talal’s hobby is body building. He bagged several awards in body building. His father has a small jewelry shop. His mother running a beauty salon, while brother has a car rental service.
Talal is thinking seriously about his future. He realized that this is not the end, but the beginning of another phase of life. It is time to plan his future career. He doesn’t want to do any job. He want to do business but how and what business?
Talal is confused about what kind of business should he start, traditional or e-commerce? Though his family is running a traditional business, Talal has heard and learnt lots about the e-Business and e-marketing.The question he need to deal with whether he should join his father’s or brother’s business or he should do his own.He is also considering the financial aspects. Should he take from father? Or bank or other sources such as partnership, etc.
Therefore, this is a question with no easy solution. Considering the above situation prepare a Decision Making and Problem Solving Worksheet answering the following question:
Step 1: Defining and Clarifying the Question (1 Mark)
Step 2: Develop mind mapping for the alternative (2 Marks)
Step 3: Generating Alternatives (1 Mark)
Step 4: Variables to consider (1 Mark)
Step 5: Weighing the considerations (2 Mark)
You may notice that the variables to consider are not of equal importance. Therefore, you need to weigh how important each variable is before you make your decision. In this activity, the following rating scale can be used:
5
Very important
4
Considerably important
3
Neither important nor unimportant
2
Not very important
1
Not important at all
Step 6: Weighing the alternatives (2 mark)
When weighing the various alternatives, how well each alternative fulfills the variables to consider can be expressed as scores. A different rating scale will be used to assess each alternative:
+2 very suitable
+1 quite suitable
0 neither suitable nor unsuitable
-1 not quite suitable
-2 not suitable at all
Note: Positive numbers (+2 or +1) indicate that the alternative is able to fulfill the variables, whereas negative numbers (-2 or -1) denote the opposite.
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