pls soon “A business that fails to plan will plan to fail". Thus, a business plan is one of theessential documents that are required during set up a new business or scale up acurrent business.Q1(а)(i)(ii)Explain TWO (2) uses of a commercial business plan.Describe in detail THREE (3) reasons why a business might fail.

Business Plan : A business plan can be defined as a written document in which contains the various…

Answered: “A business that fails to plan will…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Q.1. a) Identify the challenges affecting the delivery performance and buffer levels in an in-house material handling system at BRL. (
QUESTION 2 With quantity competition, horizontal mergers might be socially efficient but not profitable for the firms. O True O False
Question 4 c. Discuss five techniques that can be used to manage capacity in the short-term.
Q.2 Interarrival time of pieces at the given flow-shop is exponential with mean 10 minutes. Operation time of M1 machine has Uniform distribution with a=3 and b=11. Operation time of M2 machine has Normal distribution with µ = 5; 0x = 1.5; Calculate the average waiting time in queue and total machine idle time. M1 M2
QUESTION 12 (Using the same problem) A vendor for the local ballpark food stand is questioning whether to stock his concession with a large or small inventory. He believes that it will depend upon the size of the crowd. He has developed a payoff matrix for the various alternatives (stocking decision) and states of nature (size of crowd). What is the answer using the criterion of minimax regret? Alternatives Large Inventory Small Inventory Probability O A) -$2,000 O B) $130,000 O C) $0 O D) $20,000 O E) $153,400 Large Crowd $220,000 $90,000 .20 PROFIT ($) Average Crowd $50,000 $70,000 .50 Small Crowd -$2,000 -$5,000 .30
Question B1: Simply Storage is a large storage business operating in several major cities in the UK. It runs the firm as a franchise. The parent company uses a centralised organisational structure. All franchises have to use exactly the same procedures. Each franchise is run by self-employed owners/managers who provide the warehouse space, either by owning it or renting it. The owners of each franchise are also responsible for developing their individual businesses and increasing turnover. The most successful franchise owners have built up very profitable businesses over the years. Simply Storage does not give any incentives to its warehouse staff. They are paid an hourly rate and there is never any overtime. The opportunities for promotion are very limited as on average a franchise only employs four staff. There is high staff turnover as many staff stay a few months then move on. a) Explain two ways in which the centralised organisational procedures might affect the way in…
a) Distinguish time related system and piece rate system.
Question 5: Suppose a brewery uses a Cobb-Douglas production function for his production. He studies the production process and finds the following. An additional machine-hour of fermentation capacity would increase output by 500 bottles per day (i.e. MPK = 500). An additional man-hour of labor would increase output by 1000 bottles per day (i.e. MPL = 1000). The price of a man-hour of labor is $50 per hour. The price of a machine-hour of fermentation capacity is $5 per hour. 3. Suppose that the price of a machine-hour of fermentation capacity rises to $25 per hour. How does this change the answer from part 1?
Question: Explain some of the strategic, planning, and operational decisions that must bemade by an apparel retailer such as Outfitters ?Explanation of strategic, planning and operational decisions made by the apparel retailer
QUESTION 12 The following is a L.P.P: Max Z= 5X1 + 7X2 + 6X3 (Hundreds of dollars $) s.t: X1 + 4X2 + 2X3 =0 (production capacity; hours) (warehouse capacity; hundreds of sq. ft.) (demand for 6 oz. glasses; hundreds of cases) The optimal solution to the model as follows: Basis Св 5X1 7X2 6X3 0.5 S1 S2 S3 RHS X2 7 -0.5 1 10 S1 -1 1 -3 10 X1 1 1 -1 10 7 8.5 1.5 120 C-z -2.5 -1.5 -2 What effect on the optimal solution (value of Z) ,if we change the profit of X3 from 6 to $3.8 ? Click Save and Submit to save and submit. Click Save All Answers to save all answers. hp
Question b and c
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