mgt 402 ’12

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Description402
:Learning Outcomes 12.1
Explain the factors necessary for a strong family business
Understand the exit strategy options available to an entrepreneur
Discuss the stages of management succession
.Explain how to develop an effective management succession plan
.Understand the four risk management strategies
.Discuss the basics of insurance for small business
:Action Required 12.2
:Watch the short video at the following link
2pxmKvkzFM&index=30VIDJbWw&list=RDLV63https://www.youtube.com/watch?v=a_
:Test your Knowledge (Question) 12.3
?.Define the essential qualities of a successful family business
Instructions 12.4
.Answer the question available in the “Test your Knowledge” section
Post your answer in the discussion board using the discussion link below
324
: Interactive activity12Week
:Learning Outcomes 12.1
Managing Teams
Managing Responsibilities
Effective Decision Making
:Action Required 12.2
You were the project leader for Casino Night on campus, a charitable
event organized by your group to raise money for the homeless. The
. Before the 3,500$event was a big success, garnering a net profit of
event your team researched nearby organizations that support the
homeless and to whom the money could be given. You narrowed the
choices to the Chunk of Coal House and St. Mary’s Soup Kitchen.
Eventually your group decided that the funds should be given to Chunk
of Coal House. You are about to write a check to its director when you
read in the local newspaper that the Chunk of Coal House has
.terminated operations
Test your Knowledge (Question): What should you do with the 12.3
?money
:Assume that you have the following decision-making options
,make decisions on your own with available information )1(
consult others before making a decision, and )2(
call a meeting and reach a consensus, seeking to arrive at a final )3(
.decision everyone can agree on
?Which approach would you use to make the decision, and why
.Instructions: Answer the question in test your knowledge section 12.4
Post your answer in the discussion board using the discussion link ·
: Interactive learning Discussion)12below (Week
323
: Interactive activity12Week
:Learning Outcomes 12.1
Managing Teams
Managing Responsibilities
Effective Decision Making
:Action Required 12.2
You were the project leader for Casino Night on campus, a charitable
event organized by your group to raise money for the homeless. The
. Before the 3,500$event was a big success, garnering a net profit of
event your team researched nearby organizations that support the
homeless and to whom the money could be given. You narrowed the
choices to the Chunk of Coal House and St. Mary’s Soup Kitchen.
Eventually your group decided that the funds should be given to Chunk
of Coal House. You are about to write a check to its director when you
read in the local newspaper that the Chunk of Coal House has
terminated operations
Test your Knowledge (Question): What should you do with the 12.3
?money
:Assume that you have the following decision-making options
,make decisions on your own with available information )1(
consult others before making a decision, and )2(
call a meeting and reach a consensus, seeking to arrive at a final )3(
.decision everyone can agree on
?Which approach would you use to make the decision, and why
.Instructions: Answer the question in test your knowledge section 12.4
Post your answer in the discussion board using the discussion link ·
: Interactive learning Discussion)12below (Week
424
:Learning Outcomes 12.1
Recognize the importance of quality management theory, principles,
and practices applied in businesses on national and international
.levels
.State the importance of standardization and quality standards
Action Required: (Read) 12.2
The Case of the Missing Reservation
Mark, Donna, and their children, along with another family,
traditionally attended Easter brunch at a large downtown hotel. This
year, as in the past, Donna called and made a reservation about three
weeks prior to Easter. Because half the party consisted of small
reservation to 11:30minutes prior to the 20children, they arrived
ensure being seated early. When they arrived, however, the hostess
said that they did not have a reservation. She explained that guests
sometimes failed to show and that she would probably have a table
available for them before long. Mark and Donna were quite upset and
insisted that they had made a reservation and expected to be seated
,promptly. The hostess told them
I believe that you made a reservation, but I can’t seat you until all the “
people on the reservation list are seated. You are welcome to go to the
lounge for complimentary coffee and punch while you wait.” When
Mark asked to see the manager, the hostess replied, “I am the
manager,” and turned to other duties. The party was eventually seated
., but was not at all happy with the experience11:45at
The next day, Mark wrote a letter to the hotel manager explaining the
entire incident. Mark was in the MBA program at the local university
and taking a course on quality management. In the class, they had just
studied issues of customer focus and some of the approaches used at
Baldrige Award winner. Mark 1999and 1992The Ritz-Carlton Hotel, a
concluded his letter with the statement, “I doubt that we would have
experienced this situation at a hotel that truly believes in quality.”
:About a week later, he received the following letter
We enjoy hearing from our valued guests, but wish you had
experienced the level of service and accommodations that we strive to
achieve here at our hotel. Our restaurant manager received your letter
and asked me to respond as Total Quality Lead. Looking back at our
records, we did not show a reservation on the books for your family. I
have addressed your comments with the appropriate department head
so that others will not have to experience the same inconveniences
that you did. Thank you once again for sharing your thoughts with us.
We believe in a philosophy of “continuous improvement,” and it is
through feedback such as yours that we can continue to improve the
.service to our guests
:Test your Knowledge (Question) 12.3
Were the hostess’s actions consistent with a customer-focused .1
?quality philosophy? What might she have done differently
How would you have reacted to the letter that Mark received? .2
Could the Total Quality Lead have responded differently? What does
the fact that the hotel manager did not personally respond to the
?customer tell you
Instructions 12.4
.Read Casestudy and answer the questions
Post your answer in the discussion board using the discussion link
below
): Interactive Learning Discussion12Week (

Purchase answer to see full
attachment

Description402 :Learning Outcomes 12.1 Explain the factors necessary for a strong family business Understand the exit strategy options available to an entrepreneur Discuss the stages of management succession .Explain how to develop an effective management succession plan .Understand the four risk management strategies .Discuss the basics of insurance for small business :Action Required 12.2 :Watch the short video at the following link 2pxmKvkzFM&index=30VIDJbWw&list=RDLV63https://www.youtube.com/watch?v=a_ :Test your Knowledge (Question) 12.3 ?.Define the essential qualities of a successful family business Instructions 12.4 .Answer the question available in the “Test your Knowledge” section Post your answer in the discussion board using the discussion link below 324 : Interactive activity12Week :Learning Outcomes 12.1 Managing Teams Managing Responsibilities Effective Decision Making :Action Required 12.2 You were the project leader for Casino Night on campus, a charitable event organized by your group to raise money for the homeless. The . Before the 3,500$event was a big success, garnering a net profit of event your team researched nearby organizations that support the homeless and to whom the money could be given. You narrowed the choices to the Chunk of Coal House and St. Mary’s Soup Kitchen. Eventually your group decided that the funds should be given to Chunk of Coal House. You are about to write a check to its director when you read in the local newspaper that the Chunk of Coal House has .terminated operations Test your Knowledge (Question): What should you do with the 12.3 ?money :Assume that you have the following decision-making options ,make decisions on your own with available information )1( consult others before making a decision, and )2( call a meeting and reach a consensus, seeking to arrive at a final )3( .decision everyone can agree on ?Which approach would you use to make the decision, and why .Instructions: Answer the question in test your knowledge section 12.4 Post your answer in the discussion board using the discussion link · : Interactive learning Discussion)12below (Week 323 : Interactive activity12Week :Learning Outcomes 12.1 Managing Teams Managing Responsibilities Effective Decision Making :Action Required 12.2 You were the project leader for Casino Night on campus, a charitable event organized by your group to raise money for the homeless. The . Before the 3,500$event was a big success, garnering a net profit of event your team researched nearby organizations that support the homeless and to whom the money could be given. You narrowed the choices to the Chunk of Coal House and St. Mary’s Soup Kitchen. Eventually your group decided that the funds should be given to Chunk of Coal House. You are about to write a check to its director when you read in the local newspaper that the Chunk of Coal House has terminated operations Test your Knowledge (Question): What should you do with the 12.3 ?money :Assume that you have the following decision-making options ,make decisions on your own with available information )1( consult others before making a decision, and )2( call a meeting and reach a consensus, seeking to arrive at a final )3( .decision everyone can agree on ?Which approach would you use to make the decision, and why .Instructions: Answer the question in test your knowledge section 12.4 Post your answer in the discussion board using the discussion link · : Interactive learning Discussion)12below (Week 424 :Learning Outcomes 12.1 Recognize the importance of quality management theory, principles, and practices applied in businesses on national and international .levels .State the importance of standardization and quality standards Action Required: (Read) 12.2 The Case of the Missing Reservation Mark, Donna, and their children, along with another family, traditionally attended Easter brunch at a large downtown hotel. This year, as in the past, Donna called and made a reservation about three weeks prior to Easter. Because half the party consisted of small reservation to 11:30minutes prior to the 20children, they arrived ensure being seated early. When they arrived, however, the hostess said that they did not have a reservation. She explained that guests sometimes failed to show and that she would probably have a table available for them before long. Mark and Donna were quite upset and insisted that they had made a reservation and expected to be seated ,promptly. The hostess told them I believe that you made a reservation, but I can’t seat you until all the “ people on the reservation list are seated. You are welcome to go to the lounge for complimentary coffee and punch while you wait.” When Mark asked to see the manager, the hostess replied, “I am the manager,” and turned to other duties. The party was eventually seated ., but was not at all happy with the experience11:45at The next day, Mark wrote a letter to the hotel manager explaining the entire incident. Mark was in the MBA program at the local university and taking a course on quality management. In the class, they had just studied issues of customer focus and some of the approaches used at Baldrige Award winner. Mark 1999and 1992The Ritz-Carlton Hotel, a concluded his letter with the statement, “I doubt that we would have experienced this situation at a hotel that truly believes in quality.” :About a week later, he received the following letter We enjoy hearing from our valued guests, but wish you had experienced the level of service and accommodations that we strive to achieve here at our hotel. Our restaurant manager received your letter and asked me to respond as Total Quality Lead. Looking back at our records, we did not show a reservation on the books for your family. I have addressed your comments with the appropriate department head so that others will not have to experience the same inconveniences that you did. Thank you once again for sharing your thoughts with us. We believe in a philosophy of “continuous improvement,” and it is through feedback such as yours that we can continue to improve the .service to our guests :Test your Knowledge (Question) 12.3 Were the hostess’s actions consistent with a customer-focused .1 ?quality philosophy? What might she have done differently How would you have reacted to the letter that Mark received? .2 Could the Total Quality Lead have responded differently? What does the fact that the hotel manager did not personally respond to the ?customer tell you Instructions 12.4 .Read Casestudy and answer the questions Post your answer in the discussion board using the discussion link below ): Interactive Learning Discussion12Week ( Purchase answer to see full attachment

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