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I am completing a group assignment, for which you can find the scenario below. I have done a portion of it so far, but my group mates have not been so collaborative. The assigment is due on th e5th of
I am completing a group assignment, for which you can find the scenario below. I have done a portion of it so far, but my group mates have not been so collaborative. The assigment is due on th e5th of august. I will attach an example of how the assigment should be, and the portion I have completed so far. If I can have some help completing the rest, just in case my group members do'nt follow through, that would be awesome.
Project Two: Using the PrOACT Model to Make a Decision
Team Project Due Week 7
Purpose:
The purpose of this assignment is for you to work as part of a team. As a team, you will using a decision making process using the PrOACT model of decision making. You will learn the steps of the PrOACT model and then apply the steps to make a decision using the case scenario presented below.
To complete this assignment, you will develop several skills that include teamwork, collaboration, critical thinking (analyzing and synthesizing information to develop and support ideas, reasoning and conclusions), time management, writing skills and APA skills.
Outcomes:
- Apply the PrOACT model
- Explain how a decision making model reduces bias and influence
- Develop collaboration skills
- Develop critical thinking and communication skills
NOTE: All submitted work is to be your original work. You may not use any work from another student, the Internet or an online clearinghouse. You are expected to understand the Academic Dishonesty and Plagiarism Policy, and know that it is your responsibility to learn about instructor and general academic expectations with regard to proper citation of sources as specified in the APA Publication Manual, 6th Ed. (Students are held accountable for in-text citations and an associated reference list only).
This assignment is a group project. You will be placed into groups consisting of no more than four students each. Groups will be assigned early, and the expectation is that the groups will work on the various parts of the assignment as relevant content is covered throughout the course. The group will act as a self-directed team, and will therefore determine its own leadership, timetable, and task list, guidelines for communication, goals, and so forth. As an individual, you are expected to participate fully in the project.
You will actively participate in completing the assignment and group members will receive the same group grade. However, free-riders who contribute little will receive a different grade than the group grade at the discretion of the instructor. If you fail to contribute to the project, a zero for the assignment will be assigned.
Read the following case scenario:
Jeff and Jordan Hopkins recently attended a birthday party for their 10-year-old granddaughter, Shirley. During the party, the children were all given a chance to make their own popcorn and add flavors and colors to the popped corn. The children could add caramel, butter, chili pepper, cocoa powder, or dried cheese flavoring. The girls were delighted with the idea of mixing the flavors to their taste, which in some cases were delightful and others not so much. The fun was in the mixing and the girls were delighted. Jeff and Jordan, recent retirees, were looking for a new small business to start and they immediately latched onto this idea: Why not produce popcorn flavors? On second thought why not produce snack flavors in general? Why not produce flavors for popcorn, pretzels, and potato chips that people could mix and match to their taste - A gourmet flavor treat for all ages. Flavor “N” Snack (FNS) was born.
FNS makes 18 powdered flavor basics that when heated in a microwave for seconds would add flavor to most snack foods. The powders come in flavors like masala, Thai green chili, honey and mustard, chili, malt vinegar and sweet flavors like orange chocolate, salty caramel, and honey apple. The flavors are packaged in plastic jars with shaker lids for easy dispensing. Online instructions for hosting tasting parties are included in the packaging.
Jeff and Jordan do all the product purchasing, mixing, bottling, labeling, packaging and shipping of the product in the basement of their large home. Their teenage grandson has created a web page for them and helps with online orders. Currently after six months in business FNS is selling about 875 bottles each month. The couple took the FNS products to a recent Sweets and Snack Expo in California and were surprised at the response received. They received a contract from several small boutique chains looking for clever food gift ideas. This contract will increase their output by about 300 bottles per month alone. They also learned from other conventioneers that the holiday season would give them a big jump in sales as people look for hostess gifts, stocking stuffers, party ideas, and gift guides for new ideas. In fact, the conventioneers suggested the Hopkins’ increase their existing production as much three times. Encouraged by positive reactions from the convention sales and a new listing posted in two national gift guides, the company’s July revenue was $6,500. FNS’’s gross margin ranged from $3 to $5 on each bottle, depending on the ingredients. At this time, the website is doubling its orders.
The holiday season is upon FNS and Jeff and Jordan are at a crossroads in their business: do they expand the business in general or do they just try to meet the Holiday demand and worry about expansion later? The idea of not having enough inventory for the Holiday season and disappointing customers is unsettling to James and Allison. The couple cannot be seen as unreliable to first-time customers. It is also true that keeping down expenses is critical because the company is self-financed and the couple does not want to touch their 401K pension funds to fund FNS. Yet, spending money for a onetime event seems like an inefficient use of their budget if they just have to turn around and put more money out to do the job permanently.
Jeff and Jordan have studied the market and although uncertain that they will reach their sales goals it seems likely that to fill all their possible sales for the holiday season the couple would have to produce 6,000 bottles per month starting in September through December.
Jeff estimates that he will need two additional full-time workers in October, mainly for production; an extra three and a half workers in November, for production and shipping; and one and a half workers in December, mainly for shipping. The couple has examined a few options to meet the huge increase in production:
- One option they considered is renting extra bottling machines and asking friends and family to help in exchange for food and laughs. The problem is that other commitments may diminish the volunteers’ participation as the holidays, school schedules and work demands consume their time. They are likely not to be reliable as time nears the holiday week. Further, Jeff and Jordan know that family and friends cannot be managed like salaried workers, and hurt feelings may result. Also, the workforce is not trained and would have to be coached as well as supervised on dealing with food products. Although the most cost-effective measure would cost $1800, easily payable from their bank account, Jeff and Jordan worry they may not meet the goal without losing some family or friends. Depending on family and friends is risky.
- A second option would have them rent the machines and hire bonded and vetted temp-workers through an agency. The cost is $25 an hour for a total of $20,000. This sum would tap into their cash reserve and leave them strapped for other expenses. Although doable, this option leaves little cushion in the FNS bank account. It is a risk. The workforce is also not trained and would have to be coached as well as supervised on dealing with food products.
- Another option is a loan. The source of the loan could be from family, friend, or bank. A loan would allow for a more professional workforce and free Jeff and Jordon to work on expanding the growth of the company all around. A bank loan would likely have higher rates for people their age. Jordan called AARP for some advice and was told that age should not be an issue from a legitimate lender; however they would most likely have to post collateral that means mortgaging their home, which is mortgage free. The house they feel is off limits. They must have a place to live at their age. However, getting a loan without using the house or their 401K accounts as collateral is possible but they have no idea of the rates. Friends or family have the same problem. What happens to their relationship if the business fails? Will it change their relationship?
- Another option is to invest in new equipment and one full-time employee to run them. The cost would include turntables, workbenches, shrink wrap machines and fulfillment equipment that Jeff thinks will cost $11,500. He is uncertain that they will have enough time to install the machines in the basement in time for a September production. He might have to pay extra for a rush fee of $3,000 more to guarantee a timely installation. The salary of one employee would be $35,000 per year. The cost is something FNS can handle without too much strain.
Looking for some advice, the couple turned to some of the small business people they met at the convention. Here are some of the comments they received:
- Use every personal contact as you must get the orders filled and to the customers on time. The first impression is the best so do it right the first time. Work 24/7. If you do not want to use family and friends look to other groups that may be willing to help for a small donation. You may even have previous work buddies who may help for a small fee. Also include with every order a product list and order form. Happy customers make good long-term customers.
- Do not invest in any equipment if you are not sure the holiday surge will continue in the months afterward. Family and friends will want to see you succeed while temp workers will consider it just another job.
- Investing in machinery is a real growth move. Find customers that will sustain the expense by going to bigger retailers.
Instructions:
Step 1: The Process/Worksheet
Help Allison make a decision.
Read the course readings located under Week 5 – 8 Content.
Use the Worksheet Instructions and Submission Sheet to apply the PrOACT model to the decision process. Remember while some options have been suggested they may not be the only ones to consider. An outstanding grade would really have an alternative that you have created to meet the objectives. The goal of this project is to show how well you can apply the decision model to a scenario that could potentially occur in the business world.
A clear definition of the reasoning used to make selections and how the process was applied must be reflected in the comments for each phase of the process. One sentence conclusions is unacceptable. Logic in making the decision should reflect the use of the case facts, class material and any data collected to make the decision.
Step 2: Your Team
Your team will complete the worksheet that will reflect on the major points raised in the case scenario. Provide the reasoning for the execution of the various components of the decision making process made by the team for each element of the worksheet. This worksheet will include an analysis of reasoning behind each step of the process as well as an executed consequence table and decision matrix.
Your team will work collaboratively, which means each student must complete the worksheet rather than breaking the worksheet among the members of the team.
- The worksheet format is to be followed with no deviations.
- The team will submit one worksheet into the Assignment folder.
- Every person in the team will receive the same grade which means that complete cooperation is a must. However, if a member fails to participate or does not carry his or her weight, a deduction may occur.
- Teams must use the Group area of the classroom without use of an external mechanism for collaboration.
- The team must decide unanimously as to the alternative selected.
- A complete explanation as to why the alternative was best for the decision.
- The second-best choice with accompanying explanation must be included as well.
Step 3: Submit the memo in the Assignment Folder (The memo submitted to the Assignment Folder will be considered a student’s final product and therefore ready for grading by the instructor. It is incumbent upon the student to verify the project is the correct submission. No exceptions will be considered by the instructor).
Preparation for the Worksheet
- Read the grading rubric for the project. Use the grading rubric while completing the project to ensure all requirements are met that will lead to the highest possible grade.
- Third person writing is required. Third person means that there are no words such as “I, me, my, we, or us” (first person writing), nor is there use of “you or your” (second person writing). If uncertain how to write in the third person, view this link: http://www.quickanddirtytips.com/education/grammar/first-second-and-third-person.
- Contractions are not used in business writing, so do not use them.
- Paraphrase and do not use direct quotation marks. This means you do not use more than four consecutive words from a source document, put a passage from a source document into your own words and attribute the passage to the source document. Provide the page or paragraph number. Note that a reference within a reference list cannot exist without an associated in-text citation and vice versa.
- You may not use books as source material.
Due Date
Aug 5, 2018 11:59 PM
References (links) to be used:
- PrOACT Design
- Litemind Essential Guide to Creative Decision Making and those articles linked within (in blue) to get a better understanding of the PrOACT model and how it works.
- Structured Decision Making - Uncertainty
- Advantages and Disadvantages to including Stakeholders in Decision Making.
- Roles of Stakeholders in Planning Process
- Three Steps to Building a Decision Matrix
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************ try ** eliminate **** ************* ***** **** ****** ************ ******* ********** **** ** ***** ***** ********* ******** Alternative ****** ** Here: Rent ***** Bottling ******** *** ****** **** ***** from family *** FriendsJeff and ****** *** *** ** **** *** ****** **** ***** **** family *** ******* ** ******* ********* *** ****** **** ******** ********** ** **** the market ****** **** **** ****** and ******* **** also ****** ** meeting *** ********** labor *********************** alternatives ******** the ******** ** *** decision *********** ************ ****** ************* ** *** moment *** increased ****** *** *** ******** *** clients ** ******* ***** on *********** The ******** Jeff *** ****** **** is not ******* ** ******** ** future Renting *** ********* and ***** **** labor and ********* is * **** *** for *** couple to **** *** waters The ****** **** **** ****** *** true ****** ** ****** before *** ****** *** ****** ** long ******* ********* *** * more 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customer ****************** **** *** assessed ** *** basis of achieving *** ******** ***** *** *** potential ********** costs Stakeholders (impacts the alternatives *** ************ ****** ***************** ** Here: **** and ********** **** ****** clients ******* *** ******* **** the ***************** Members *** ************ involvement could lead to them *********** their **** *** ******** ***** ************ **** *** ****************** success of the *********** **** ********* ***** ******* ** ****** *** ************* ************ *** ** new ******** *** **** * ****** ** *** ************************ ******* ** *** ******* ********** the ****** ** *************** Alternative #2Fill in ***** **** Extra ******** Machines and **** ********* ******* Through AgenciesJeff and ****** *** **** ***** ******** ******** to ******** *** production capacity ** *** The ****** **** need to **** ***** ***** to *** the new ******** ****** ********* staff **** reduce *** ******** ***** ****** *** increase ********** ************* decision is * process *********** It ******* * ****** process ** ********** production through ********** ********* and ****************** ********** with *********** ****** in ******* ***** * ******* renting ************ ***** ******* *********** in ********* FNS ************* *** Jordan ***** **** ** *** a ******* facility ***** that *** ******* ****** *** **** ** the ******** ******* ** ******** equipment ***** ** * chance **** the ********** ******** ***** **** the skills ****** at ******* ********* Associated with *********** ****** ** ***** *** **** are low The **** **** exists is the failure ** **** machine ****** facilities ***** is **** * **** *** ****** ***** ***** ******* ****** ** FNS *** ** lack ** ******** ******* ** *** *********** **** **** to **** in sales and ******* ******** confidenceStakeholders ******** the ************ *** alternatives ****** ***************** in ***** 1 **** and ********** *** ****** are ********** ** ********* ****** costs *** ******* ********** **** *** ********* *********** ********* ****** timely ******** of the ******* ******** EmployeesThe *** ******** ******* *** assurance after *** holiday ****** *** passed4 The Local ********* ** *** ********** ************** local ** ** ******** *** ************* protection 5 *** Local *** ******** ********************* *** ************************** *********** ****** in Here: Get External Financing ** *** *** ********* and **** a Professional ************ ******* *** source external ******** ** *** additional ***** for *** company *** ********** ***** are ******** from ********* ************ or ***** **** ****** *** ******* *** ****** *** **** *** a ************ workforce ** **** ** *** increased production ******** *********** ** also a ******* alternative ***** ** ******** ************ *** ********* *** finances ********** the ********* ********* through *** *********** ** *** ********* *** extra ************ staff ******** ****** *** *********************** Associated with Alternative ****** ** ******* the ******** rate manageable?Is *** Payment plan agreeable?Does the ******** succeed ** manage **** ************** is * likelihood **** *** ******** rates offered by *** ******* ***** ** *** ***** ** ** *********** at *** Huge interest **** *** affect *** liquidity ** *** *** lender *** **** **** * ******* plan that is *** ****** for **** and ****** which could affect the ********* finances ** *** ******* *** business ***** *** ******* *** ******** ****** expansion ***** ** **** ***** **** *** collateral ***** to the ****** The ********** ******* *** **** **** *** *** ********** ********** ********* Associated **** *********** ****** ** ***** *** ******* ***** faces *** ******** **** risks *** ******** ***** could **** compromising the ******* ** FNS ** pay *** debts *** ********* That **** **** ** *** loss of *** collateral ** **** of the **** plan *** *** ********* ***** The ******* *** *** ****** to ******** **** **** **** ** *** **** ** *** provided ********************** ******** the ************ *** ************ ****** stakeholders)Fill ** Here: * Jeff *** *********** **** their ***** **** *** ********* **** and ********** teenage ************* **** the ****** **** and ******** he helped build3 ****** “N” ***** ***** **************** ********** ******* ****** “N” Snack ***** ************ ******** **** *** ******* ** the company5 ********* ************ **** *** **** ********* ** ** ***** *** money **** **** interest6 *** ***** ********* ** *** ********** *********** ** ******* sourced ********* *** ***** and National GovernmentTax ********** *** infrastructure ********************** *********** ****** ** ***** *** Internal ******** ** ******** New Equipment *** **** and an ********** *********** couple *** **** ****** to ******** *** ********* **** *** ********* ***** *** *** *** **** **** * single employee ** help operate the *** ************ is **** ** a **** ****** *********** ***** *** ******* ***** involved The *** ******* will help **** current ********** ****** **** ** *** ****** **** not ******** significantly *** *** employee **** **** the ******** **** *** ******* ***** of ****** ***** *** ********* through *** ******** **** obtained ** *** conference If the holiday ****** ******** *** ****** can easily hire **** staffUncertainties ********** **** *********** ****** in ******** *** ***** ** *** *** ********* ************* *** *** ******** **** ** ******* *** new *********** the ********* funds ********** ** help in ** emergency?The cost of *** new equipment ***** **** ****** the *********** ***** and become ************ ** *** couple There ** also * ********** **** ne *** employee ***** be ****** ** ******* the new ******* *********** ** ********* such ** * ******* ********* *** ***** **** the ***** **** been depleted buying *** new *************** ********* ********** with Alternative #4Fill in ***** *** ********* **** ** that the price ** *** ********* might ******** ******** ************ **** the ******* *** resources ***** is also a **** that *** employee ***** **** the skills ** ******* ******* ******** *********** * risk **** a ******* ********* *** ***** when *** ******* is low ** fundsStakeholders ******** the ************ *** alternatives impact ***************** ** ***** 1 Jeff *** ************* ***** ************* *** resources2 Flavor ******* Snack ***** ************ affected ** *** *********** ** service3 ****** ******* ***** ***** employeesExpect *** security **** *** ************ *** ***** Community ** *** production *********** ******** *** ***** people5 *** Local *** ******** ************* ****** ** ***** to be ********************* *********** ****** ** ***** ******* with Family or ******* ** ******* *** Machinery *** ******* ***** ******** ****** ** ** ******** * *********** **** * ****** ** friend *** ******* **** ******* ***** and ********** ***** ****** *** ********* ********** ******* ***************** is * ******* alternative *** friends **** **** by ******* **** *** ******** ** *** **** and ****** gain by ********** ***** ********* **** ***** ********** ********** ** meet ******************* ********** **** Alternative ****** in ******* ***** a ******* partner?What *** *** ********** costs?Are they available **** ******** ******* ** *** *********** ******* on *** willingness ** * ****** *** ****** ****** ** **** *** ********* **** ******* **** by *** ********* partners might *** ** ********** ** **** and ****** *** partners ****** **** ** available ** ********** *** extra laborRisk ********* ********** **** *********** #5Fill ** ***** ***** ** * **** that ***** ***** be a ******* in finding *** willing ******** The ******** ******** ***** also ***** ******* that might ********** the ******* ********** ********* ** the ******* ******** *** ******* ** **** and Jordan can ********** ***** ******* ** *** ******* *** ******* might **** **** ** ** ********* to ******* *** extra ***************** ******** the ************ *** ************ ****** ************** **** ********** **** control ** their ******** Flavor ******* ***** ***** customersExpect *** ********** of ******* **** after ********** ******** Jeff and ********** family and *********** to provide time *** money ** **** *** Local Community at *** ********** ************** to ****** *** ********** *** Local and National ******************* *** ******************** *********** #6Fill ** Here: ********* *** ***** Production ***** ** a ********* Third ******** other *********** is ** outsource *** production *** ***** ****** ** * third ***** *** ******* *** continue ********* at *** current ***** and ********* *** ***** ****** ** a ***** partyThe *********** ** a time ****** ******** **** *** ****** *** *** sure ** *** ******** in ****** **** the ******* *** are **** **** of a *********** demand ***** *** ******* *** *** *** continue ********* at *** current level Any ********** ****** **** ** ********** ** * ***** ***** producerUncertainties ********** with *********** ****** ** Here:Is ***** a ***** ***** producing *** Products?Is Outsourcing **** ********* the ******* **************** *** *** **** ** ******** a third ***** **** ** ***** equipped ** ******* ***** ******** *** **** of *********** has ** ** reasonable ** ***** *** the ******* ** **** gains *** **** ***** ** *** **** *** ******* ******* that *** ****** to ***** shipping costs and other ***** ********** to *** ***** *** quality ***** **** ** **** ******* ** ********* *** loss of *************** ********* ********** **** *********** #6Fill ** ***** *** ******* ***** **** ** **** * ***** ***** **** can ******* ***** ******* flavors *********** might ** expensive *** ****** ** ****** ***** is * **** **** the *********** ******* can ******* **** ******* products and even ***** ******************** ******** *** ************ *** ************ ****** ***************** in ***** * **** *** ********** *** ********** ** ***** ******** ****** ******* ***** ***** ************ **** a ******* problem3 *** ***** ********* at *** production ************ of ********* market *** raw ******** due to ************ *** Local *** ******** GovernmentLoss of *** ******** ** *** *********** partner ** * ******* ************** ***** Examining *** ConsequencesList ** Consequences 1 **** Bottling ******* and **** ***** **** Family *** *********** *** ****** ******* ** ** * **** *** ***** ******** ******* meeting the ******* ** *** ************************* **** **************** will ** ********* in ******** labor **** ****** could ****** unreliableIncrease expenses ** rental ******** *** low labor costsThe ******* could ** compromised by ****** *********** ******* **** ******* *** customer ********* operating funds *** ** ****** ********* **** Bottling ******* *** **** ********* ************** *** ******* *** **** workers through an ****** eliminates the **** ********** ** family *** *************************** ********** ** ************ demand goalsIncreased ***** costsExpands *********** *** ******** ********* to *** ********* *** **** ************ ***************** ********* ********* *** ***** ********* ** *** ******* *** **** ** *** ********* ** ******* ******* cash ******* ******** *************************** ********* and ************** ** frequent ******** ** ************** *** couple **** **** since *** ********* can ****** most ************** ConsistencyIncreases the ***** costs 4 *** ******** ***** ** *** ********* *** Hire ************** *** ****** **** ****** ********* in *** purchase of *** equipment They ***** ****** **** funds ** *** ****** does *** increase ConsequencesThe *** equipment ********* production ***************** ***** ********* *********** ******** ***** only *** employee is addedLow operating ******** ******* **** Family *** ******* *** ***** and ******** *** *** * **** ***** approach ** ********* * ******* The partner **** ******** *** ***** ********** **** external **************************** *** *********** *** control that **** and ****** have ** *** companyIncreased Labor **** *** ***************** ********** *** production capacity 6 Outsource ***** ********** ********* *** Jordan can opt to do ******* *** ***** ****** that they ****** **** should ** outsourced to external partiesConsequencesResult ** ******* ****** *** ** difference in production *************** **** ******** *********** ** ****** ******************* ****** **************** * ConsequencesObjectivesAlternative ** Rent ******** ******* *** **** Labor from ****** *** ****************** ** Rent ******** ******* *** **** ********* ****************** #3 Use ******** ********* ** *** ********* *** hire ************ ******************** ** *** ******** Funds to *** Equipment *** Hire EmployeeAlternative #5 ******* **** ****** and Friends *** ***** *** **************** #6 ********* ***** ********** *************** Production 233332 Establish Consistency 233321 Increased ******************** ************************** ************************************************** Customers 222222 Liquidity211131 Totals181716182113 Consequences: *********** ** *** the ***** ******* *** ***** ** *** **** ********* ** ***** ** Stands *** **** *** **** objectives2- ****** *** ***** objectives3- ****** *** ***** ********** **** *********** 2 ****************************** ** **** ******** ******* *** **** ***** **** Family *** ****************** ** Rent Bottling ******* *** **** ********* ****************** ** Use ******** Financing ** *** ********* *** hire ************ ******************** #4 *** ******** Funds to Buy ********* and **** EmployeeAlternative ** ******* **** ****** and ******* *** ***** *** **************** ** ********* ***** ********** NeedsIncrease Production 233332Establish Consistency 233321Increased **************** ********************** ********************************************** **************************************************************** ********* **** **** **** for *********** * * *** ************* * *** been ********** because of the financial **** ** ***** **** *** Jordan *** *** ******* ** **** their **** They *** **** not ready ** touch ** ***** 401K ***** ***** ** ** ***** nest bed Most ********* options **** require them to *** ***** **** ** **** ** ********** ******** ***** ***** ****** is *** ******* it ** too risky ** *********** ** ** ******** ** Jeff *** Jordan-Alternative * *** been ********** ***** ** ** ***** to ********** the ******** ** *** ******* ******* ********* *** hiring **** ******* ***** **** ** ******* ********* ** ** also and ********* ******* if ***** ** ** immediate demand-Alternative * ** *** ****** *** ** ******* ****** *** ** * young ******* and it ***** high quality ******** ** ****** *********** **** and Jordan ***** *** ******* ** ***** ******** *********** ***** ********** *** ******* ** ***** ******* *** threaten ***** ******** **** ***** issues **** led ** *** *********** ** the option * ***** ***** *** ****** ***** *** ******* ** ***** ******** and ****** ***** productsThe ********** ********** *** ***** ** ***** expenses *** ************ *********** Establishing consistence *** been ********** ***** it ** * strategy **** ** designed ** increase ********* ****** is ******* and ********** ***** ******** ** ** objective that is aimed at ********** profitability ***** ** ******* part ** *** **************** ***** ******* *** Weighting *** Alternatives Decision Matrix Table ************** * Increase ************* ************* 3Increased LaborObj ********* customersObj 4ProfitabilityObj ************************** ** **** ******** ******* and Free Labor from ****** *** Friends22222210Alternative #2 Rent ******** Machine *** Hire Qualified Workers31221110Alternative #3 Use External Financing to *** ********* *** hire ************ **************************** ** *** ******** ***** ** *** ********* and Hire *************************** #5 ******* **** ****** and ******* *** ***** *** ************************ #6 Outsource ***** Production ******************** **** *** Meet ** ***** Very ******** ******* ***** **** Well Decision Matrix Table 2ObjectivesObjective 1 Production ***************** 2LiquidityObjective *************** ****************** *********************** ****************************************************** ** **** ******** ******* and Free ***** **** ****** and ****************************************************************************** ** **** Bottling ******* *** **** ********* ********************************************************************************* ** *** ******** ********* ** *** equipment and hire ************ ***************************************************************************** ** Use ******** ***** ** *** ********* *** **** ******************************************************************************* ** ******* **** Family *** Friends *** Funds *** ************ 093×010=032×010=022×005=013×020=063×025=075285Alternative ** Outsource ***** Production Needs2×030=061×010=010×010=02×005=011×020=020×025=01Explanation ** Rating *** ChoiceFill in ***** ******** **** *** Meet ** Meets **** ****** 2: Meets3: ***** **** *************** ** Very ********* ********** ********** ** ******* ** **** *** *** demand25: Important ********* ** ********* ** **** the ******* *** **** customer ********* *********** ********** ************* ** ********* ** **** *** ******** *************** ****** Significance ***** has little ************ *** ** *** ***** use ** machinery ** ************** ****** ************ ********* is ** ****** ************ since5%: *** ********* ********** customers is **** *********** ** the ******** since *** ***** is ** ******* *** **** ****** ******* ** *** ******* season Step Six: ****** ********* ** the ******************** ********* explanation ** how *** group applied *** model ** *** **** ********* ** ****** **** Bottling ******* and **** Labor **** ****** and Friends-Will ******* ******* ***** ********* costs?-Will *** ******* be ******** to ***** *********** costs *** the machines?-Will ****** *** ******* ******* compensation **** *** **** ********** **** ******** ******* *** **** ********* *********** ***** ***** costs ********** **** ******* equipment?-Is *** ******* ******** for the **** ** ***** **** *** **** ** *** ********* ** *** temp *********** *** ******** Financing ** buy ********* and hire ************ workforce-Are *** ******** rates ***** ** ************** ********** ** required?- ** *** lending ************ ***** ** oversee *** activities of *** *********** *** ************ workforce *********** ** the ******* revenues? 4 Use ******** ***** ** *** ********* *** **** *************** the company ****** **** operating **** ********* *** ********* ****** ********** *** ************** a single ******** **** ** ******* *** *** new ************* ******* **** Family *** ******* *** Funds and ******** there ****** or ******* **** ********** ********** will *** *********** affect *** ************ **** **** and ********** *** ******* skilled ** **** ** *** company? 6 ********* ***** Production Needs-Are the facilities ******* near the market or *** ** minimize *********** **** *** ****** ** allowed ** ********* and monitor ***** *********** *********** capable ** retaining ******* quality? Step ****** Making *** Decision The ******** ** determined ** *** decision matrix:Fill ** ************** in ***** *** ********* Partner With Family *** Friends *** funds *** LaborJeff *** *** should ****** *** *********** that *** the bests ***** on the ******** decision matrix ********* ***** The weighted decision matrix represents *** ************ ********** ** fulfilling the objectives ** *** ******** ******** ****** the *********** *********** *** the highest ***** of 285 *** alternative ***** Jeff and Jordan a **** ***** ******** ** ******* *** ******* *********** ****** ************ ***** ******** ***** ** *** equipment *** hire *** employeeThe ****** *********** involves ***** internal ***** ** ******** ********* *** **** ********* *** *********** had the ****** **** ***** ** *** * high ***** demonstrates * ****** ****** in ********* ******* ********** ******* ********** *** By ***** local funds the company can ***** ******** into *********** ***** funding expansion ******* *** *** **** risk *** ***** ***** ** ****** **** ** *** ** ********* *********** *** company **** **** **** *** resources ** cater for any *** emergency ** *** ********* ********** Eight: *** Last **** ** the ********************* ** ***** ** ** ***** to ********* *** *********** *********** as *** **** ****** *** right decision *** **** ****** All *** objectives ********** **** *** company have been **** ******* *** alternatives **** been balanced ******* *** ********** *** ******** *** appropriate **** ********* ************ and also *** ** the ******** ******** matrixFill ** Here: *** Partnership *********** meets *** *** objectives ****** ** the ******** process In *********** *** ********** *** **** important ********** ****** to ******* *** ******** ** ****** ** *** (Mehentee ***** *** partnership *********** ***** the ********* by providing ******** ***** *** ***** to ******** ********** *** thus ******* the ********** ** ***** * ** ********* **** *** ******** ****** ** is *** best funding ******** **** **** *** ***** *** ******* ** *** ****** ** * ********* **** ***** ******* methods would **** ******** company ********* or led ** *** **** ** **** *** ********* **** or **** **** ** ** also *** *********** **** ******** **** ***** ***** options The *********** **** ********** ********* ******** ******* *** ******* and ***** ******* *** ******************************************************************************** * * Keeney * * & Raiffa H (1999) ***** Choices: * ********* Guide to Making ****** ********* **** Retrieved August 6 **** **** http://edsbebscohostcomezproxyumucedu/eds/ebookviewer/ebook/bmxlYmtfXzQ1MDE0X19BTg2?sid=671ce194-8727-476e-ae60-bc1d09027dc0@pdc-v-sessmgr01&vid=3&format=EB&rid=1#Hiring ********** **** *** ******** and ***** of ********** *** ********** ********** ** * ********* August * **** **** https://thepartneringinitiativeorg/about-us/philosophy-and-approach/the-benefits-and-risks-of-partnering/Investopedia **** Capital Budgeting *************** ** * ********* ****** * **** from *********************************************************** L **** Einstein’s ****** to ******* ******* ******* **** 10 ******** **** You *** *** It) Litemindcom ** 1 Retrieved ****** * **** **** *********************************************** * ***** ******* 4) ******** Making ******** PrOACT * ****** 1 Problem ********** ***** Retrieved ****** * **** **** ************************************************* J ***** ******* 4) Decision ****** ******** ****** *** ****** 4 Consequences Youtubecom Video ********* ****** 6 2018 from ************************************************* J (2013 January ** Decision ****** ******** ****** *** ****** * ********** ********** ***** ********* ****** 6 **** **** *********************************************** ********** (nd) ****** Decision ****** ***** ****************** Skills11 * ********* ****** * **** **** ************************************************************************* * ****** ******** finance *** *** ****** dimension of ***** ** a ****** economy1 *** ********* ********* ** Banking ********** *** ****** *****
