Statistical Quality ControlStatistical Quality ControlA venture capitalist has just given you several million dollars to develop your dream product! Explain in detail what this product is and why people would buy it. (Think Steve Jobs and the iPhone - did people really think we needed “smartphones” back in 2007?)Now it has gone into production and the manager is asking you, as the statistical expert, to use statistical methods to ensure quality control.1. Describe your product, its use and societal value in at least one paragraph. Humor is encouraged.2. You will generate a random dataset of N samples of defective proportions by completing the following steps:a. You will start with a random number by combining the last 2 digits of the year in which you were born plus the day of the month in which you were born. For example, if you were born October 3, 1990, your number would be 90 + 3 = 93. (If your number exceeds 100, subtract 100 from the total.) Call this X and it will seed your random number generation.b. Choose a number of samples, N. N should be between 5 and 10.c. In Excel, type =RAND()*X in a cell. Repeat N times. This will generate the proportion of defective products (out of 100) for your N samples.3. Use Excel QM to create a p-chart for a sample size, 100, and the number of samples, N. Share your p-chart. See video in Live Binder.4. Share Lower Control Limit (LCL) and Upper Control Limit (UCL).5. Is the product in control? If not in control, what sample(s) was outside of the limits, i.e. below LCL or above UCL?
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Wednesday, 26 July 2017
discuss the single most important factor that must be considered when selecting a project.
discuss the single most important factor that must be considered when selecting a project.
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Assignment 3 Leadership of Richard Branson
create a PowerPoint® presentation based on your “purchase” of a restaurant. The following information is to be used to create this presentation.create a PowerPoint® presentation based on your “purchase” of a restaurant. The following information is to be used to create this presentation.Your presentation is required to have at least one reference from a reliable source. This means that you cannot use sites like Wikipedia, Ask.com®, and Yahoo® answers and that only references from reliable sources will earn points. All resources should be cited both as an in-text citation as well as being listed on a reference slide in APA format.
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NOTE: This Assignment must be submitted as a Microsoft PowerPoint® document and uploaded to the Dropbox for Unit 10.All Assignments are due by Tuesday at 11:59 PM ET of the assigned unit. PPT Assignment (40 points)You have always wanted to own a restaurant, and have now decided to go into business. You wish to purchase a building and open an Italian Bistro within it. The items listed below provide information regarding the purchases you will need to make to start your business.1) The building and the land it sits on will cost $350,000 and you have 20% to put down on the property.Annual taxes are $6,000 and fire and liability insurance is $3,600.2) You have $160,000 of additional funds to allocate for refurbishing the grounds, building structure, interior design, and kitchen.10% of the savings will be allocated to the grounds, 20% to the building’s structure, 20% to update the interior design, and 50% for kitchen installation and fire suppression systems.3) Tables are $200 each for 2 tops, $300 each for 4 tops, and $500 each for 6 tops. You plan to purchase eight (8) 2-top tables, six (6) 4-top tables, and ten (10) 6-top tables.Chairs cost $50 each. You are planning on being able to seat 100 people in the restaurant at a time and need 10 extra chairs.Silverware, tablecloths and napkins cost a total of $5,000, serving utensils cost a total of $4,000, and glassware cost a total of $5,000.4) Place/plate settings cost $30 each. You need to purchase three times the number of planned seats for turn-around and breakage. (Remember you are planning for 100 people in your restaurant.)5) Servicing carts, cooking equipment, prep tables, storage containers, and other supplies will cost a total of $15,000.6)
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Research suggests that the average receipt total per person is $12.90 and the average cost per meal is $6.86 for the Italian restaurants in your area. The research also suggests that tables are turned over for new customers between 13 and 21 times a day in your area, and that restaurants have between 40% and 60% occupancy fill rate each day.Yourassignment is to create a financial business plan explaining the initial outlay of funds this business venture will cost.Create a PowerPoint Presentation for this business venture.The following is an outline of how your slides should be presented.Slide 1: This is your title page.Include your name, project title, the course and section number and the assignment due date.Slide 2: This slide is your introduction slide. This slide should summarize your new business venture, describe your restaurant concept (i.e. casual dining, bright atmosphere, etc.) and provide other helpful information. For example, restaurant name, what types of appetizers, salads, soups, entrees, beer and wine availability, and desserts you might serve, and hours of operation. Highlight what makes you restaurant special.Slide 3: This is your building and real estate summary slide. This slide should include a small picture or building plan drawing of the building, and summarize the purchase price, down payment, and amount financed. The picture of the building can be obtained from a real estate website, or from a building plan drawing available on the Internet (be sure to cite this). This slide should also list the annual tax and insurance amounts. It should also include the monthly mortgage payment including principal, interest, taxes and insurance (PITI). The slide notes (section below the slide in PowerPoint) should contain the steps you took to calculate the monthly mortgage payment.Slide 4 to 6: These slides should include your start-up expenses. On these slides, you would list the cost of purchasing all the items listed in items 2, 3, 4, 5 above (tables, place setting, kitchen equipment, etc.). Here you can have fun and include pictures of items, or include graphs of the cost. Be sure to list the total start up expense required to open the restaurant somewhere.Slide 7: This is your revenue slide. Create revenues and food costs from your first 6 days of serving food. Present the average receipt total per person, the average cost per meal, number of times a table is sat or turned over, and fill rate or occupancy rate to estimate your restaurants revenues. This is another place where a graph could help illustrate your revenue potential.Slide 8: Conclude your presentation with the “wrap up” of the concept and any final thoughts you might want to include.Slide 9: List any resources you have used for this project. Be sure to include at least one reference from a reliable source. Because many of the concepts here involve reading from the textbook, remember to include a reference for your textbook, as well. Make sure your citations are presented in APA format.
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NOTE: This Assignment must be submitted as a Microsoft PowerPoint® document and uploaded to the Dropbox for Unit 10.All Assignments are due by Tuesday at 11:59 PM ET of the assigned unit. PPT Assignment (40 points)You have always wanted to own a restaurant, and have now decided to go into business. You wish to purchase a building and open an Italian Bistro within it. The items listed below provide information regarding the purchases you will need to make to start your business.1) The building and the land it sits on will cost $350,000 and you have 20% to put down on the property.Annual taxes are $6,000 and fire and liability insurance is $3,600.2) You have $160,000 of additional funds to allocate for refurbishing the grounds, building structure, interior design, and kitchen.10% of the savings will be allocated to the grounds, 20% to the building’s structure, 20% to update the interior design, and 50% for kitchen installation and fire suppression systems.3) Tables are $200 each for 2 tops, $300 each for 4 tops, and $500 each for 6 tops. You plan to purchase eight (8) 2-top tables, six (6) 4-top tables, and ten (10) 6-top tables.Chairs cost $50 each. You are planning on being able to seat 100 people in the restaurant at a time and need 10 extra chairs.Silverware, tablecloths and napkins cost a total of $5,000, serving utensils cost a total of $4,000, and glassware cost a total of $5,000.4) Place/plate settings cost $30 each. You need to purchase three times the number of planned seats for turn-around and breakage. (Remember you are planning for 100 people in your restaurant.)5) Servicing carts, cooking equipment, prep tables, storage containers, and other supplies will cost a total of $15,000.6)
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Research suggests that the average receipt total per person is $12.90 and the average cost per meal is $6.86 for the Italian restaurants in your area. The research also suggests that tables are turned over for new customers between 13 and 21 times a day in your area, and that restaurants have between 40% and 60% occupancy fill rate each day.Yourassignment is to create a financial business plan explaining the initial outlay of funds this business venture will cost.Create a PowerPoint Presentation for this business venture.The following is an outline of how your slides should be presented.Slide 1: This is your title page.Include your name, project title, the course and section number and the assignment due date.Slide 2: This slide is your introduction slide. This slide should summarize your new business venture, describe your restaurant concept (i.e. casual dining, bright atmosphere, etc.) and provide other helpful information. For example, restaurant name, what types of appetizers, salads, soups, entrees, beer and wine availability, and desserts you might serve, and hours of operation. Highlight what makes you restaurant special.Slide 3: This is your building and real estate summary slide. This slide should include a small picture or building plan drawing of the building, and summarize the purchase price, down payment, and amount financed. The picture of the building can be obtained from a real estate website, or from a building plan drawing available on the Internet (be sure to cite this). This slide should also list the annual tax and insurance amounts. It should also include the monthly mortgage payment including principal, interest, taxes and insurance (PITI). The slide notes (section below the slide in PowerPoint) should contain the steps you took to calculate the monthly mortgage payment.Slide 4 to 6: These slides should include your start-up expenses. On these slides, you would list the cost of purchasing all the items listed in items 2, 3, 4, 5 above (tables, place setting, kitchen equipment, etc.). Here you can have fun and include pictures of items, or include graphs of the cost. Be sure to list the total start up expense required to open the restaurant somewhere.Slide 7: This is your revenue slide. Create revenues and food costs from your first 6 days of serving food. Present the average receipt total per person, the average cost per meal, number of times a table is sat or turned over, and fill rate or occupancy rate to estimate your restaurants revenues. This is another place where a graph could help illustrate your revenue potential.Slide 8: Conclude your presentation with the “wrap up” of the concept and any final thoughts you might want to include.Slide 9: List any resources you have used for this project. Be sure to include at least one reference from a reliable source. Because many of the concepts here involve reading from the textbook, remember to include a reference for your textbook, as well. Make sure your citations are presented in APA format.
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Assignment 3: Leadership of Richard Branson
Assignment 3: Leadership of Richard Branson
Using the Internet or Strayer University databases, research the leadership style and characteristics of Richard Branson, Virgin Group.
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Write a six to seven (6-7) page paper in which you:
Assess the key elements of Richard Branson’s leadership style and the impact that those elements have had on his business success. Provide support for your rationale.
Given that The Virgin Group has been described as a fast-growing entrepreneurial company with many facets to the group, suggest how the unique aspects of Richard Branson’s leadership style mesh successfully with the particular attributes of a multifaceted organization like Virgin.
Determine two (2) key ways in which Richard Branson is likely to motivate employees in order to achieve his goals for the Virginia Group. Indicate whether or not his approach is likely to work in a different organizational setting. Provide support for your rationale.
Assess the effectiveness of Richard Branson’s ability to articulate and communicate his vision for his company to employees and other stakeholders. Provide support for your rationale.
Assume that you have received a job offer to be a manager within the Virgin Group. Determine the criteria you would use to evaluate whether Richard Branson’s leadership style is a good fit for you as a manager and what conclusion you may draw about working under this type of leader.
Take a position on whether or not you believe Richard Branson is a global leader. Justify your position and provide support for your justification.
Predict Richard Branson’s success as a leader over the next five (5) years. Support your prediction.
Use at least three (3) quality academic resources. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
Analyze the activities and skills associated with the leadership function of management.
Use technology and information resources to research issues in modern management.
Write clearly and concisely about modern management using proper writing mechanics.
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Using the Internet or Strayer University databases, research the leadership style and characteristics of Richard Branson, Virgin Group.
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Write a six to seven (6-7) page paper in which you:
Assess the key elements of Richard Branson’s leadership style and the impact that those elements have had on his business success. Provide support for your rationale.
Given that The Virgin Group has been described as a fast-growing entrepreneurial company with many facets to the group, suggest how the unique aspects of Richard Branson’s leadership style mesh successfully with the particular attributes of a multifaceted organization like Virgin.
Determine two (2) key ways in which Richard Branson is likely to motivate employees in order to achieve his goals for the Virginia Group. Indicate whether or not his approach is likely to work in a different organizational setting. Provide support for your rationale.
Assess the effectiveness of Richard Branson’s ability to articulate and communicate his vision for his company to employees and other stakeholders. Provide support for your rationale.
Assume that you have received a job offer to be a manager within the Virgin Group. Determine the criteria you would use to evaluate whether Richard Branson’s leadership style is a good fit for you as a manager and what conclusion you may draw about working under this type of leader.
Take a position on whether or not you believe Richard Branson is a global leader. Justify your position and provide support for your justification.
Predict Richard Branson’s success as a leader over the next five (5) years. Support your prediction.
Use at least three (3) quality academic resources. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
Analyze the activities and skills associated with the leadership function of management.
Use technology and information resources to research issues in modern management.
Write clearly and concisely about modern management using proper writing mechanics.
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Determining Performance Guided by Metrics
Determining Performance Guided by Metrics
Performance Management.
Think back to the last time you received an evaluation in your current position. Was it within the last six months or a year? Were you evaluated on clearly defined and measurable performance goals? Consider the evaluation marks you received. Do you believe you received an appropriate review?
Organizations continue to progress toward measurable performance reviews for their employees. Senior leadership sets the cornerstone of measurement by setting the overall goals for an organization and department. By pairing departmental goals with the vision and mission of an organization, senior leadership can help to ensure employees continue to grow and perform to the desired expectations of their management team.
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This week, you examine the behavioral factors organizations use to evaluate employee performance. You evaluate different metrics used for performance evaluation and appropriate metric goals for employee evaluation and assessment.
Discussion: Performance Metrics
Performance is frequently measured based on applied metrics. Consider the performance of a baseball team. The team’s success is measured by its ability to win games relative to the other teams in its division. When we analyze the performance of individual players on the team, we are using applied metrics. Each player is given a batting average, which can be calculated in its simplest form by dividing the individual’s number of hits by his or her number of attempts at bat to get the “Batting Average” (Hits / At Bats = Batting Avg). So if player John Smith gets 202 hits during a season where he has 546 attempts at bat, his batting average would calculate out to .370. Similar calculations and averages can be used to measure employee performance that is more appropriate to an organization.
Reflect on a past work experience where your performance was reviewed and identify three behaviors that were evaluated. In examining the behaviors, which do you feel were task or contextual behaviors? In preparing your response, answer the following questions:
· How appropriate or effective were the metrics that were employed for these behaviors?
· How would you have improved the metrics?
· If there were no metrics in place, which metrics would you suggest? Justify your response.
Be specific and provide examples with references to this week’s literature
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Performance Management.
Think back to the last time you received an evaluation in your current position. Was it within the last six months or a year? Were you evaluated on clearly defined and measurable performance goals? Consider the evaluation marks you received. Do you believe you received an appropriate review?
Organizations continue to progress toward measurable performance reviews for their employees. Senior leadership sets the cornerstone of measurement by setting the overall goals for an organization and department. By pairing departmental goals with the vision and mission of an organization, senior leadership can help to ensure employees continue to grow and perform to the desired expectations of their management team.
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This week, you examine the behavioral factors organizations use to evaluate employee performance. You evaluate different metrics used for performance evaluation and appropriate metric goals for employee evaluation and assessment.
Discussion: Performance Metrics
Performance is frequently measured based on applied metrics. Consider the performance of a baseball team. The team’s success is measured by its ability to win games relative to the other teams in its division. When we analyze the performance of individual players on the team, we are using applied metrics. Each player is given a batting average, which can be calculated in its simplest form by dividing the individual’s number of hits by his or her number of attempts at bat to get the “Batting Average” (Hits / At Bats = Batting Avg). So if player John Smith gets 202 hits during a season where he has 546 attempts at bat, his batting average would calculate out to .370. Similar calculations and averages can be used to measure employee performance that is more appropriate to an organization.
Reflect on a past work experience where your performance was reviewed and identify three behaviors that were evaluated. In examining the behaviors, which do you feel were task or contextual behaviors? In preparing your response, answer the following questions:
· How appropriate or effective were the metrics that were employed for these behaviors?
· How would you have improved the metrics?
· If there were no metrics in place, which metrics would you suggest? Justify your response.
Be specific and provide examples with references to this week’s literature
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