MGMT 530 Week 4 Midterm Exam
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<strong>MGMT</strong> <strong>530</strong> <strong>Week</strong> 4 <strong>Midterm</strong> <strong>Exam</strong><br />
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1. (TCO A) Your small services company has outgrown the current facility after the first two<br />
years of a three-year lease. As the operations manager, you are being held accountable for<br />
cancelling orders, and you are beginning to lose market share due to late deliveries. The goal is<br />
to determine what action to take in the future to improve the situation and restore sales.<br />
i. What criteria should have been used in the decision-making process that could have avoided<br />
the current situation?<br />
ii. Describe the eight elements for effective decision making used in a rational decision-making<br />
approach, and describe how it could have been applied seeing this potential crisis in advance.<br />
2. TCO A) Understanding fundamental and means objectives are important to decision analysis<br />
and decision making. As your business has grown, you are evaluating moving your company to a<br />
larger office closer to several of your key customers and are looking at several different<br />
alternatives.<br />
i. Identify your fundamental objectives.<br />
ii. How would those objectives be used in the decision-making process?<br />
iii. Identify your means objectives.<br />
iv. How would the means objectives be used in the decision-making process<br />
3. (TCO A) Robin Griffith, Business Manager for Clark Investments, is considering three new<br />
office locations. In trying to decide which location is the best overall for the company, Robin has<br />
concluded that three criteria are important in this decision. First, of course, is to have a location<br />
in close proximity to key corporate customers. This objective is most important, twice as<br />
important as each of the other two criteria. The second criterion is to have a location with
excellent tenant satisfaction. The third criterion is for the facility to have additional space to<br />
expand into. The second and third criteria are equally important.<br />
Here is a summary of each of the locations:<br />
1) Shady Pines: 7 corporate accounts within five miles; scored an 80 satisfied/highly satisfied in<br />
recent tenant satisfaction poll; 1,000 additional square feet available in the event of a need to<br />
expand further.<br />
2) Via Angelina: 5 corporate accounts within five miles; scored an 85 satisfied/highly satisfied in<br />
recent tenant satisfaction poll; 2,000 additional square feet available in the event of a need to<br />
expand further.<br />
3) The Mercado: 4 corporate accounts within five miles; scored a 75 satisfied/highly satisfied in<br />
recent tenant satisfaction poll; no additional space available.<br />
(a) What is Robin’s problem or opportunity in this situation?<br />
(b) What is the overall objective for Robin’s decision? What are the fundamental objectives that<br />
support the overall objective?<br />
(c) What are Robin’s alternatives for this decision situation?<br />
(d) Evaluate this decision situation using tradeoffs or a weighted scoring model. Based on that<br />
analysis, to which location should Robin select?<br />
4. TCO B) Utilizing intuitive thinking in today’s business environment is a must according to<br />
research and practical experience.<br />
i. Why is intuition important to managers today, and how reliable is it in decision making?<br />
ii. Develop three approaches for improving one’s intuition to enable better decision making.