P-l-e-a-s-e- -r-e-a-d- -a-n-d- -u-n-d-e-r-s-t-a-n-d- -t-h-e- -p-r-o-b-l-e-m- -b-e-l-o-w- -a-n-d- -a-f-t-e-r- -r-e-a-d-i-n-g- -a-n-s-w-e-r- -t-h-e- -f-o-l-l-o-w-i-n-g- -q-u-e-s-t-i-o-n-s- Ten people work for a small construction company that is managed by Gray. The company works on profitable renovation projects to assist homeowners in creating their ideal/dream houses. He started his company in N-e-w- -A-i-y-a-n-s-h- soon after the N-i-s-g-a-'-a- -T-r-e-a-t-y- was formed, but as demand for his services in adjacent Terrace increased, he made the decision to relocate it there. On a daily basis, Gray deals with phone calls from customers, handles complaints, sends representatives to give customers quotes, organizes staff for any given job, orders supplies, consults with staff experts to determine the best way to complete the task, maintains an equipment maintenance schedule, hires and retains employees, corrects subpar performance, and trains new carpenters. Gray has been experiencing fatigue lately. In order for him to enjoy retirement as soon as possible, he must transfer his business to one of the younger employees. Gray went fishing on one of his few days off and decided he was ready to stop operating the company after 20 years. His strategy is to choose a new leader for the business, train them for the next six months, and then formally hand over the reins. In addition to the possibility of hiring an outsider for the position, he is considering three internal employees. Although each of the participants is a skilled carpenter, they each have particular advantages and disadvantages. He examines and records each of their leadership qualities. The candidates list displays the findings of his analysis. a-f-t-e-r- - -r-e-a-d-i-n-g- -p-l-e-a-s-e- -a-n-s-w-e-r- -t-h-e- -f-o-l-l-o-w-i-n-g- T-i-m-e- -c-o-n-t-e-x-t- V-i-e-w-p-o-i-n-t S-t-a-t-e-m-e-n-t- -o-f- -t-h-e- -p-r-o-b-l-e-m -(-q-u-e-s-t-i-o-n- -f-o-r-m-) 3 -s-h-o-r-t- -t-e-r-m- -o-b-j-e-c-t-i-v-e- 3- -l-o-n-g- -t-e-r-m-- o-b-j-e-c-t-i-v-e

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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P-l-e-a-s-e- -r-e-a-d- -a-n-d- -u-n-d-e-r-s-t-a-n-d- -t-h-e- -p-r-o-b-l-e-m- -b-e-l-o-w- -a-n-d- -a-f-t-e-r- -r-e-a-d-i-n-g- -a-n-s-w-e-r- -t-h-e- -f-o-l-l-o-w-i-n-g- -q-u-e-s-t-i-o-n-s-


Ten people work for a small construction company that is managed by Gray. The company works on profitable renovation projects to assist homeowners in creating their ideal/dream houses. He started his company in N-e-w- -A-i-y-a-n-s-h- soon after the N-i-s-g-a-'-a- -T-r-e-a-t-y- was formed, but as demand for his services in adjacent Terrace increased, he made the decision to relocate it there.
On a daily basis, Gray deals with phone calls from customers, handles complaints, sends representatives to give customers quotes, organizes staff for any given job, orders supplies, consults with staff experts to determine the best way to complete the task, maintains an equipment maintenance schedule, hires and retains employees, corrects subpar performance, and trains new carpenters.
Gray has been experiencing fatigue lately. In order for him to enjoy retirement as soon as possible, he must transfer his business to one of the younger employees. Gray went fishing on one of his few days off and decided he was ready to stop operating the company after 20 years. His strategy is to choose a new leader for the business, train them for the next six months, and then formally hand over the reins.
In addition to the possibility of hiring an outsider for the position, he is considering three internal employees. Although each of the participants is a skilled carpenter, they each have particular advantages and disadvantages. He examines and records each of their leadership qualities. The candidates list displays the findings of his analysis.

a-f-t-e-r- - -r-e-a-d-i-n-g- -p-l-e-a-s-e- -a-n-s-w-e-r- -t-h-e- -f-o-l-l-o-w-i-n-g-

T-i-m-e- -c-o-n-t-e-x-t-

V-i-e-w-p-o-i-n-t

S-t-a-t-e-m-e-n-t- -o-f- -t-h-e- -p-r-o-b-l-e-m -(-q-u-e-s-t-i-o-n- -f-o-r-m-)

3 -s-h-o-r-t- -t-e-r-m- -o-b-j-e-c-t-i-v-e-

3- -l-o-n-g- -t-e-r-m-- o-b-j-e-c-t-i-v-e

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Follow-up Question

P-l-e-a-s-e- -m-a-k-e- -a- -r-e-c-o-m-m-e-n-d-a-t-i-o-n- -w-h-y- -t-h-i-s- -s-o-l-u-t-i-o-n- -i-s- -t-h-e- -b-e-s-t- -s-o-l-u-t-i-o-n- -f-o-r- -t-h-e- -p-r-o-b-l-e-m- -a-n-d- -m-a-k-e- -a- --5- -s-t-e-p-s- -c-o-n-c-l-u-s-i-o-n- -t-o- --s-o-l-v-e- -t-h-e- -p-r-o-b-l-e-m 

Solution 3 - Provide the candidates with an assignment by handing over any of the construction projects and ask them to complete it within the given timeframe. Gray must supervise their work and find out the skills as well as the lack of expertise of each candidate.

Advantages:-

  1. The candidates will be given a real-life situation that will help them to do projects in the future.
  2. The candidates will be able to understand the problems that were not covered in the training that was given.
  3. They will learn to complete the projects on time effectively.

Disadvantages:-

  1. It is risky to assign projects if candidates are not trustworthy.
  2. The way the candidates handle the projects in the future will be different from how they complete the assignment.
  3. The candidates may hurry up in completing the assignment and gain the trust of Gray. It is not possible to understand the skill of an individual with a single assignment.

 

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Follow-up Question

P-l-e-a-s-e- -r-e-a-d- -a-n-d- -u-n-d-e-r-s-t-a-n-d- -t-h-e- -p-r-o-b-l-e-m- -b-e-l-o-w- -a-n-d- -a-f-t-e-r- -r-e-a-d-i-n-g- -a-n-s-w-e-r- -t-h-e- -f-o-l-l-o-w-i-n-g- -q-u-e-s-t-i-o-n-s-


Ten people work for a small construction company that is managed by Gray. The company works on profitable renovation projects to assist homeowners in creating their ideal/dream houses. He started his company in N-e-w- -A-i-y-a-n-s-h- soon after the N-i-s-g-a-'-a- -T-r-e-a-t-y- was formed, but as demand for his services in adjacent Terrace increased, he made the decision to relocate it there.
On a daily basis, Gray deals with phone calls from customers, handles complaints, sends representatives to give customers quotes, organizes staff for any given job, orders supplies, consults with staff experts to determine the best way to complete the task, maintains an equipment maintenance schedule, hires and retains employees, corrects subpar performance, and trains new carpenters.
Gray has been experiencing fatigue lately. In order for him to enjoy retirement as soon as possible, he must transfer his business to one of the younger employees. Gray went fishing on one of his few days off and decided he was ready to stop operating the company after 20 years. His strategy is to choose a new leader for the business, train them for the next six months, and then formally hand over the reins.
In addition to the possibility of hiring an outsider for the position, he is considering three internal employees. Although each of the participants is a skilled carpenter, they each have particular advantages and disadvantages. He examines and records each of their leadership qualities. The candidates list displays the findings of his analysis.

a-f-t-e-r- - -r-e-a-d-i-n-g- -p-l-e-a-s-e- -a-n-s-w-e-r- -t-h-e- -f-o-l-l-o-w-i-n-g-

V-i-e-w-p-o-i-n-t- -(-i-t- -i-s- -y-o-u-r- -v-i-e-w-p-o-i-n-t-)

f-i-n-d- -3- -s-o-l-u-t-i-o-n-s- -a-n-d- -3- -a-d-v-a-n-t-a-g-e-s- -a-n-d- -3- -d-i-s-a-d-v-a-n-t-a-g-e-s- -e-v-e-r-y- -o-f- -e-a-c-h- -s-o-l-u-t-i-o-n-s-

Solution
Bartleby Expert
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