Submit pricing strategy decisions for your chosen products/services. Try to work on your industry analysis.

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Unique Vision Center Pricing Strategy

Submit pricing strategy decisions for your chosen products/services. Try to work on your industry analysis. Refer to the Marketing Plan Outline.

Setting the Price

Step 1: Selecting the pricing objective
Step 2: Determining demand
Step 3: Estimating costs
Step 4: Analyzing competitors’ costs, prices, and offers
Step 5: Selecting a pricing method
Step 6: Selecting the final price

Evaluate which comparisons would require the use of the t-test and which would use the chi-squared test. Explain your answers. Support your discussion with relevant examples, research, and rationale.

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Discussion 4

Select any one of the following starter bullet point sections. Review the important themes within the sub questions of each bullet point. The sub questions are designed to get you thinking about some of the important issues. Your response should provide a succinct synthesis of the key themes in a way that articulates a clear point, position, or conclusion supported by research. Select a different bullet point section than what your classmates have already posted so that we can engage several discussions on relevant topics. If all of the bullet points have been addressed, then you may begin to re-use the bullet points with the expectation that varied responses continue.

You are a marketing manager for a company that makes ready-to-eat breakfast cereals. Your company recently initiated a loyalty program for consumers, which resulted in a large purchaser database. The brand managers are eager to mine the available data, which they can use to design more effective promotional programs. The management of your organization believes that to be effective, these programs have to take into account significant cross-region (i.e., the East Coast, the West Coast, the Midwest, and the South) purchase differences. Your task is to test the hypothesis that there are significant cross-region differences in purchasing patterns. Management has suggested that you use six different two-way comparisons (directly comparing each region with every other region), with each two-way comparison being suggested at the 5% level.

-Assess how appropriate management’s proposed use of hypothesis testing would be to validate management’s belief in cross-region purchase differences.
-Explain the goal of this hypothesis testing experiment.
-Describe the mechanics of this hypothesis testing process.
-Explain why the organization would go through the trouble of hypothesis testing in this situation. Support your discussion with relevant examples, research, and rationale.
>You are a manager working for an insurance company. Your job entails processing individual claims filed by policyholders. In general, most claims are relatively minor, costwise, but a few are quite expensive. Each quarter, you compile a report summarizing key claims statistics that includes the number of claims submitted, the mean cost per claim, the median cost per claim, the proportion of claims being litigated, the number of emergency procedures, the proportion of men versus women, and the average age of claimants. Your measures are computed separately for the southern and northern regions, and you are interested in determining whether or not there are statistically significant differences between the two regions on each of the aforementioned measures.
-Evaluate which comparisons would require the use of the t-test and which would use the chi-squared test.
-Explain your answers. Support your discussion with relevant examples, research, and rationale.

>In the past several weeks, you have been introduced to a range of statistical data analysis tools. Consider what you have learned in the context of progression of data, information, and knowledge. What are the specific techniques you would consider most helpful in transforming information into knowledge (as opposed to just translating data into information)? Support your discussion with relevant examples, research, and rationale.

Identify and analyse the use of different approaches to understanding the macro and micro environments for a business.

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Macro and micro environments for a business

Identify and analyze the use of different approaches to understanding the macro and micro environments for a business.

Explain the goal of this hypothesis testing experiment. Describe the mechanics of this hypothesis testing process. Explain why the organization would go through the trouble of hypothesis testing in this situation. Support your discussion with relevant examples, research, and rationale.

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Discussion 4

Select any one of the following starter bullet point sections. Review the important themes within the sub questions of each bullet point. The sub questions are designed to get you thinking about some of the important issues. Your response should provide a succinct synthesis of the key themes in a way that articulates a clear point, position, or conclusion supported by research. Select a different bullet point section than what your classmates have already posted so that we can engage several discussions on relevant topics. If all of the bullet points have been addressed, then you may begin to re-use the bullet points with the expectation that varied responses continue.

You are a marketing manager for a company that makes ready-to-eat breakfast cereals. Your company recently initiated a loyalty program for consumers, which resulted in a large purchaser database. The brand managers are eager to mine the available data, which they can use to design more effective promotional programs. The management of your organization believes that to be effective, these programs have to take into account significant cross-region (i.e., the East Coast, the West Coast, the Midwest, and the South) purchase differences. Your task is to test the hypothesis that there are significant cross-region differences in purchasing patterns. Management has suggested that you use six different two-way comparisons (directly comparing each region with every other region), with each two-way comparison being suggested at the 5% level.

-Assess how appropriate management’s proposed use of hypothesis testing would be to validate management’s belief in cross-region purchase differences.
-Explain the goal of this hypothesis testing experiment.
-Describe the mechanics of this hypothesis testing process.
-Explain why the organization would go through the trouble of hypothesis testing in this situation. Support your discussion with relevant examples, research, and rationale.

You are a manager working for an insurance company. Your job entails processing individual claims filed by policyholders. In general, most claims are relatively minor, costwise, but a few are quite expensive. Each quarter, you compile a report summarizing key claims statistics that includes the number of claims submitted, the mean cost per claim, the median cost per claim, the proportion of claims being litigated, the number of emergency procedures, the proportion of men versus women, and the average age of claimants. Your measures are computed separately for the southern and northern regions, and you are interested in determining whether or not there are statistically significant differences between the two regions on each of the aforementioned measures.

-Evaluate which comparisons would require the use of the t-test and which would use the chi-squared test.
-Explain your answers. Support your discussion with relevant examples, research, and rationale.
>In the past several weeks, you have been introduced to a range of statistical data analysis tools. Consider what you have learned in the context of progression of data, information, and knowledge. What are the specific techniques you would consider most helpful in transforming information into knowledge (as opposed to just translating data into information)? Support your discussion with relevant examples, research, and rationale.

On what theory can Bank of America sue Josh personally for the loan that it made to The Divine Grape, Inc.? Is Bank of America likely to prevail? Why or why not?

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Business Analysis

In December 2018, Josh incorporated The Divine Grape, Inc. to own and operate a winery in Napa Valley. Josh paid $1000 for 100 shares of stock and, at the same time, loaned The Divine Grape, Inc. $80,000. Josh elected himself, his wife, Leslie, and adult son, Oliver, to the Board of Directors. The Board then hired Josh as President.

In April 2020, The Divine Grape, Inc. sold 20 shares of stock to Winnie for $20,000.

After Winnie became a shareholder, The Divine Grape, Inc. hired Leslie and Oliver as additional officers of the corporation and paid them a salary sufficient to ensure that there would be no profits remaining to pay as dividends to Winnie.

In June 2021, Josh, Leslie, and Oliver voted for The Divine Grape, Inc. to acquire the surplus inventory of Pro Winery LLC, which Josh solely owned, for the price of $50,000. Leslie and Oliver relied on Josh’s opinion that this was a fair price for the inventory. In fact, this price was greatly inflated. After the purchase, Josh began gradually taking much of this inventory for Josh’s personal use without paying for it. Josh would also frequently cause The Divine Grape, Inc. to pay Josh’s personal bills.

In order to fund the purchase of the surplus inventory of Pro Winery LLC, The Divine Grape, Inc. took out an unsecured loan from Bank of America for $50,000. Two days before the Bank of America loan was due to be paid back, The Divine Grape, Inc. repaid the $80,000 loan from Josh. This left The Divine Grape, Inc. with only $5,000 in total assets, and unable to pay back the loan to Bank of America.

Bank of America filed a lawsuit against both The Divine Grape, Inc. and Josh personally, seeking to recover its $50,000 loan. Winnie filed an action against Josh, Leslie, and Oliver, alleging that the directors had breached their fiduciary duties to both her and The Divine Grape, Inc. The directors filed a motion for summary judgment in Winnie’s lawsuit, claiming that their decisions were protected by the business judgment rule.

On what theory can Bank of America sue Josh personally for the loan that it made to The Divine Grape, Inc.? Is Bank of America likely to prevail? Why or why not?

Did Josh, Leslie, and Oliver breach their fiduciary duties to the corporation and to Winnie? Which duties and why? Were the decisions of the Board protected by the business judgment rule? Why or why not?

 

Guided by insights from relevant academic literature, critically examine a contemporary global business issue and apply it to any international business of your choice.

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Global business issue

Guided by insights from relevant academic literature, critically examine a contemporary global business issue and apply it to any international business of your choice.

Select a multinational organization in the Kingdom of Saudi Arabia and evaluate how they managed the challenges of COVID-19 in relation to the aspects below, to keep operations running successfully.

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Challenges of COVID-19

COVID-19 emerged without previous notice. This external factor impacted all organizations around the globe. External factors are unpredictable, and it is important for managers to be ready to act when these types of events impact operations.

Select a multinational organization in the Kingdom of Saudi Arabia and evaluate how they managed the challenges of COVID-19 in relation to the aspects below, to keep operations running successfully. Then, explain whether all industries acted in the same way to these areas of operations. Why or why not?

  • Customer satisfaction
  • Forecasting
  • Capacity planning
  • Location
  • Inventory management
  • Store layout
  • Scheduling

 

Explain three benefits the organization will achieve by using ERP. Identify three disadvantages the organization might face while implementing ERP. Determine how the use of ERP will impact planning and scheduling in the organization.

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Enterprise resource planning

As we can see in Stevenson (2021), enterprise resource planning (ERP) is a computerized system designed to connect all parts of a business organization as well as key portions of its supply chain to a single database for the purpose of information sharing. In the image below we can see the connections between different organizational parts to ERP.

Telecomm Systems is a small organization that wants to expand their reach to become an international organization. They offer satellite internet and mobile phone services. Their processes for decision making are long and time consuming as they rely on paper reports every time they need to evaluate something. Before expanding their service internationally, they have decided to implement an ERP system.

Thinking about Telecomm Systems address the following:

  • Explain three benefits the organization will achieve by using ERP.
  • Identify three disadvantages the organization might face while implementing ERP.
  • Determine how the use of ERP will impact planning and scheduling in the organization.
  • Analyze how ERP will help the organization manage supply and demand internationally.

Explain why the identified metrics are the best for this problem, and how the selected tools to be used will help the organization to follow the steps of the Six Sigma Strategy.

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Improve quality on organizations

Through the use of Six Sigma, organizations improve quality, reduce costs, and increase customer satisfaction. Six-Sigma should be aligned with the organizational strategy and can be used in design, production, service, inventory management, and delivery .

Select an organization you are familiar with, identify a problem that needs improvement and determine the expected outcome. Then, identify the metrics you will use to measure organizational success and explain the process for determining root causes, and what tools would be used to follow through on the steps of the Six Sigma Strategy.

Explain why the identified metrics are the best for this problem, and how the selected tools to be used will help the organization to follow the steps of the Six Sigma Strategy.

 

Explain the nature of the cyber attack that occurred. Provide specific details about what happened and the impact of the cyber attack.

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Cyber attack

Cyber attacks are far more common than many realize. Select a national or international organization that has suffered from a cyberattack. Then, address the following requirements:

Provide information about your organization .

  • Explain the nature of the cyberattack that occurred. Provide specific details about what happened and the impact of the cyberattack.
  • Do you believe the company did a good job addressing the cyberattack:
  • Before it happened?
  • When the attack occurred?
  • After the attack?
  • What might the company do to prevent future cyberattacks?