A company blends long-grain rice and wild rice to produce two brands of rice mixes: brand A, which is marketed under the company’s name, and brand B, which is marketed as a generic brand. Brand A must contain at least 10% wild rice, and brand B must contain at least 5% wild rice. Long-grain rice costs $0.70 per pound, and wild rice costs $3.40 per pound. The company sells brand A for $1.50 a pound and brand B for $1.20 a pound. The company has 8,000 pounds of long-grain rice and 500 pounds of wild rice on hand. How should the company use the available rice to maximize its profit? What is the maximum profit?
Daily Archives: February 10, 2021
Imagine two different types of airline frequent flyer programs: one that awards points based on flown miles and gives free trips based on accumulated mileage according to a predefined awards schedule (e.g., domestic roundtrip in economy requires 25,000 miles, a roundtrip between North America and Europe in business requires 80,000 miles, a first class roundtrip between North America and Africa requires 200,000 miles) and another one that keeps track of the number of flight segments and gives free trips based on the number of flown segments (e.g., every 10th domestic economy class flight is free). Assume that the system needs to keep track of every customer’s status in the program, based on the cumulative flight distance and frequency either since the customer joined the program or during the….
Which six of the following characteristics should be listed in a good definition of a work team?
The members of a work team:
a have a single well-defined task;
b are willing to work together;
c have a history of success;
d manage themselves;
e are trained to carry out defined tasks;
f work together for a long period of time;
g are dependent on one another in some way;
h have common objectives;
i think of themselves as a team;
j work in the same building or area;
k go through a selection process;
l are committed to the leader.
Select the correct statements from among the following.
a Conflict is healthy if it is good-natured bantering, or reasoned argument.
b Conflict can be constructive if it allows people to keep their feelings to themselves.
c Psychometric testing should be used to make decisions about people.
d The team leader can quickly learn a team member’s personality, with the help of a little concentrated questioning.
e To get the best from people, you may have to work hard at getting to know them well.
f One way to assess cohesiveness is to monitor the importance members place on belonging to the group.
g Difficult communication tends to increase feelings of isolation and separation.
Consider the estimated export performance model in Table 11.1 (model 4). EXP18 is measured as a percentage (mean = 38.0%), while AGE is measured in years (mean = 31 years).
a. What will be the estimated coefficient of AGE if the variable is measured in months (i.e. mean = 372)? What will happen to its statistical significance?
b. What will be the estimated coefficient of AGE if EXP18 is measured as a fraction (i.e. mean = 0.38)? What will happen to its statistical significance?
The board of directors of a large Canadian law firm has plans for a merger with a smaller firm nearby. The merger’s objective is to integrate the back-office of the two firms (IT, finance, facilities, etc) in order to create economies of scale. The front offices and legal practices of the two firms will remain separate. The board has been told by the partners that the organizational cultures of the two firms differ widely, so the board wants to know whether this can create problems for the merger. Partners of both firms were asked independently about their professional experience with mergers. Those who had been involved in one or more mergers stated that cultural differences matter, and can cause serious culture clashes between professionals. How did evidence from….
The executive board of an international bank decided that any bank account that has two or more ‘Suspicious Activity Reports’ (reports of activities likely to indicate the account had been used for illegal activity) should be closed. The bank’s top executives, however, repeatedly ignored internal warnings that the firm’s monitoring systems were inadequate, and that it was thus unclear whether the decision was fully implemented. During an audit of the US Justice Department several months later it indeed turned out that the decision was not implemented by one of their Latin American subsidiaries. This became a major factor in the bank being fined over 1 billion US dollars in a money-laundering case.
Financial incentives can be used to increase the employee motivation and performance needed to support change. However, upper management should have a clear vision about the change in performance or behaviour that it desires, as it requires different approaches to incentivizing. Intrinsically motivated employees executing interesting tasks and quality outcomes should be encouraged by indirect incentives (eg opportunities to do valued activities) in order to avoid eroding that motivation. Direct financial incentives are effective when extrinsic motivation and quantitative performance need to be stimulated. Upper management should therefore frequently ‘calculate’ the proposed net effect (positive price effect versus negative crowding-out effect) when defining a pay plan. Lastly, if the plan is designed to increase team performance, all incentives should not be distributed equally, as this may harm individual….
1.Define and explain each of the terms in Table 1.1. Cite an example of each from your own experiences. How does ideological racism differ from prejudice? Which concept is more sociological? Why? How does institutional discrimination differ from discrimination? Which concept is more sociological? Why? 2. Why is it important to look beyond the United States when analyzing dominant–minority relations? What can we learn by taking a global
perspective? Besides immigration, what other effects does globalization have on American dominant–minority relations?
1. At the beginning of this chapter, you learned that Hispanic Americans “combine elements of the polar extremes [immigrant and colonized] of Blauner’s typology of minority groups” and that they are “partly an ethnic minority group and partly a racial minority group.” Explain these
statements in terms of the rest of the material presented in the chapter.
2. What important cultural differences between Mexican Americans and the dominant society shaped the relationships between the two groups?