Chapter 3 - MGMT 6850

human resource managementactivities involved in the recruiting, hiring, training, development and compensation of all types of personnelgeneral administrationgeneral management, planning, finance, accounting, legal and government affairs, quality management, and information systems; activities that support the entire value chain and not individual activitiesinterrelationshipscollaborative and strategic exchange relationships between value-chain activities either (a) within firms or (b) between firms. Strategic exchange relationships involve exchange of resources such as information, people, technology, or money that contribute to the success of the firm.resource based view of the firmperspective that firms' competitive advantages are due to their endowment of strategic resources that are valuable, rare, costly to imitate, and costly to substitutetangible resourcesorganizational assets that are relatively easy to identify, including physical assets, financial resources, organizational resources, and technological resourcesintangible resourcesorganizational assets that are difficult to identify and account for and are typically embedded in unique routines and practices, including human resources, innovation resources, and reputation resourcesorganizational capabilitiesthe competencies and skills that a firm employs to transform inputs into outputspath dependencya characteristic of resources that is developed and/or accumulated through a unique series of eventscausal ambiguitya characteristic of a firm's resources that is costly to imitate because a competitor cannot determine what the resource is and/or how it can be re-createdsocial complexitya characteristic of a firm's resources that is costly to imitate because the social engineering required is beyond the capability of competitors, including interpersonal relations among managers, organizational culture, and reputation with suppliers and customersfinancial ratio analysisa method of evaluating a company's performance and financial well-being through ratios of accounting values, including short-term solvency, long-term solvency, asset utilization, profitability, and market value ratiosBalanced Scorecardcustomer perspectivea method of evaluating a firm's performance using performance measures from the customer, internal, innovation and learning, and financial perspectiveinternal business perspectivemeasures of firm performance that indicate how well firms are satisfying customer's expectationsinnovation and learning perspectivemeasures of firm performance that indicate how well firms are changing their product and service offerings to adapt to changes in the internal and external environmentsfinancial perspectivemeasures of firms' financial performance that indicate how well strategy, implementation and execution are contributing bottom-line improvement

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business math

Find the percentage. Round answer to the nearest cent.

\$4.32 \times 187\%

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question

Warren Lloyd is interested in leasing a new car and has contacted three automobile dealers for pricing information. Each dealer offered Warren a closed-end 36-month lease with no down payment due at the time of signing. Each lease includes a monthly charge and a mileage allowance. Additional miles receive a surcharge on a per-mile basis. The monthly lease cost, the mileage allowance, and the cost for additional miles follow:

Dealer	Montly Cost	Mileage Allowance	Cost per Additional Mile
Forno Automotive	$299	36,000	$0.15
Midtown Motors	$310	45,000	$0.20
Hopkins Automative	$325	54,000	$0.15

Warren decided to choose the lease option that will minimize his total 36-month cost. The difficulty is that Warren is not sure how many miles he will drive over the next three years. For purposes of this decision he believes it is reasonable to assume that he will drive 12,000 miles per year, 15,000 miles per year, or 18,000 miles per year. With this assumption Warren estimated his total costs for the three lease options. For example, he figures that the Forno Automotive lease will cost him $\$10,764$ if he drives 12,000 miles per year, $\$12,114$ if he drives 15,000 miles per year, or $\$13,464$ if he drives 18,000 miles per year.

a. What is the decision, and what is the chance event?

b. Construct a payoff table.

c. Suppose that the probabilities that Warren drives 12,000, 15,000, and 18,000 miles per year are 0.5, 0.4, and 0.1, respectively. What dealer should Warren choose?

d. Suppose that after further consideration. Warren concludes that the probabilities that he will drive 12,000, 15,000 and 18,000 miles per year are 0.3, 0.4, and 0.3, respectively. What dealer should Warren select?

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economics

Cathy Coleman took out loans to complete her college education. After graduation, Coleman was irregularly employed as a teacher before filing a petition in a federal bankruptcy court under Chapter 13. The court confirmed a five-year plan under which Coleman was required to commit all of her disposable income to paying the student loans. Less than a year later, when Coleman was laid off, she still owed more than $100,000 to Educational Credit Management Corp. Coleman asked the court to discharge the debt on the ground that it would be an undue hardship for her to pay it. (See Liquidation Proceedings.)

(c) The third group will outline the goals of bankruptcy law and make an argument, based on these facts and principles, in support of Coleman’s request.

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business math

Express the missing entries in the debit card register algebraically.

\begin{array}{|l|l|l|l|l|l|l|l|l|}\hline \text{NUMBER OR} & \text{DATE} & \text{TRANSACTION} & \text{PAYMENT} & \text{ } & \text{ } & \text{ } & \text{DEPOSIT} & \text{ } & \text{ }\\ \text{CODE} & \text{ } & \text{DESCRIPTION} & \text{AMOUNT} & \text{ } & \text{$\checkmark$} & \text{FEE} & \text{AMOUNT} & \text{ } & \text{\$ m}\\ \hline & \text{12/3} & \text{Arloff's Gifts} & \text{\$ x} & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ }\\ \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{a.}\\ & \text{12/6} & \text{Bonnie's Boutique} & \text{z} & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ }\\ \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } && \text{b.}\\ & \text{12/7} & \text{Gas} & \text{y} & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ }\\ \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } && \text{c.}\\ & \text{12/11} & \text{Cable TV} & \text{v} & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ }\\ \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } && \text{d.}\\ & \text{12/12} & \text{Deposit} & \text{ } & \text{ } & \text{ } & \text{ } & \text{r} & \text{ } & \text{ }\\ \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } && \text{e.}\\ & \text{12/14} & \text{Gas} & \text{g} & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ }\\ \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ } & \text{ }& \text{f.}\\ \hline \end{array}

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