It is necessary to asses due to the perceived resistance to change, including the already stated dissatisfaction of the Merton Industries staff members, and the negative effects this could generate. In this order of ideas, alternatives 3 and 4 would generate the least changes and would be best accepted by the personnel. Alternatives 1 and 2 on the other hand would generate the most changes and would be negatively perceived, welcomed and implemented by the staff members.
Payoff table: A payoff table is a highly useful decision tool and is benefit is that it can be constructed in a flexible manner so that it incorporates the features most relevant to a given instance. In our situation, since the benefits and limitations of each available alternative have been revealed throughout the previous section, the payoff matrix will incorporate financial information, better else said, the financial investment and the financial gain from each possible course of action.
Cost
Gain
Final result
Alternative 1
$14,230,000
$4,500,000
-$9,730,000
Alternative 2
$13,230,000
$4,500,000
-$8,730,000
Alternative 3
$90,000
$500,000
$410,000
Alternative 4
$0
$0
$0
Break even analysis: the breakeven analysis is only applicable in this case for the first alternative, which sees the elimination of the wholesalers and the individual retailers all together. With total costs of $5,990,000, expected revenues of $7,200,000 and a retail price of $300, the company will register a profit of $1,210,000 and will break even once it manages to sell a total of 11,900 rugs and carpets.
3. Recommendation
Strategy: Based n the previous assessment, it becomes obvious that the most suitable solution at this stage does not revolve around the implementation of a direct distribution system. The company does not have sufficient strength to embark in such an endeavor and the costs and risks are too high. However, a change strategy for the overall organizational benefit could be implemented and it is based on the third possible...
Employee Satisfaction with a Company's Review Process The following research examines the reason for a decline in employee satisfaction regarding the review process at XYZ, Inc. The results of the survey revealed that sample biases may have confounded the results and that the survey will have to be re-administered to reflect the true attitudes and results of the preliminary research leading up to the current survey. The result showed a high
As a consequence, investors may suffer. Importance of the Study It is necessary and pertinent to discuss the importance of any study, and this particular study is important to many people across many countries. Not only does it have importance for people who are trusting people with their pension and hedge funds in Germany, but it also has importance for people who are considering a career working with these funds and
Behavioral Finance and Human Interaction a Study of the Decision-Making Processes Impacting Financial Markets Understanding the Stock Market Contrasting Financial Theories Flaws of the Efficient Market Hypothesis Financial Bubbles and Chaos The stock market's dominant theory, the efficient market hypothesis (EMH) has been greatly criticized recently for its failure to account for human errors, heuristic bias, use of misinformation, psychological tendencies, in determining future expected performance and obtainable profits. Existing evidence indicates that past confidence in the
Results from the study by Petersen, Ragatz and Monczka show that effective collaborative planning depends on information quality, and the trust level firms share. The authors purport: "Collaborative planning activities between supply chain partners are expected to lead to better performing supply chains" (Petersen, Ragatz & Monczka, Introduction section ¶ 1). In addition, numerous other researchers have also explored the perception relating to supplier alliances, that enhanced collaborative planning
These claims are virtually all based on the concept that corporations - particularly multinationals -- should be held accountable for their actions within their sphere of operations. "Corporations, for their part, have responded in numerous ways, from denying any duties in the area of human rights to accepting voluntary codes that could constrain their behavior" (Ratner, 2001, p. 436). In fact, this very point is echoed throughout the literature; for
likeability is effected by management in the international workplace. It assumes a phenomenological approach to the notion of likeability, and is based on the idea that likeability in management is fundamental to achieving "connectedness" among employees and to inspiring the drive needed to ensure an organization's success. By conducting a survey of employees and managers from every major business continent of the globe (Asia, Europe, America, the Middle East),
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now