Essay on Eco 550 Assignment 2

Words: 2012
Pages: 9
Open Document
Assignment 2: Operations Decisions
Eco 550 Managerial Economics

The purpose of this paper is to discuss the reasons why I, as a hired management consultant, would suggest a fictitious company either shut down operations or continue them based on its operational health. In order to do this I must first describe, in brief, the basic details of the company I have created to provide some tangibility to this assignment. Then I will assess the current environmental scan factors relevant to the decision making process, focusing on those which have the greatest impact on both the overall plant operations and the managerial decision of whether or not to discontinue operations. After which I will evaluate the company’s financial performance …show more content…
They must ensure they are adhering to all the rules and regulations governing issues such as labor and unemployment. They also need to be focused on the health and safety of both its workers and its consumers.
On the cultural front, Greatneck needs to be aware of who its consumers are. While their main purpose is to heat some specified space, Greatneck’s heaters are purchased for two different spaces and usually by two different types of consumers.
The first consumer is someone living on a fixed income, usually residing in cheaper apartment or home with little or no insulation. This consumer is looking to keep their overall heating bill low during the cold winter months and they used a space heater to warm a specific room – or part thereof - during a certain time. This may be their bedroom while they are sleeping through the night or the area surrounding their chair as they watch their evening television programs. The space heater allows them to heat only this smaller area while keeping their furnace set low and not wasting money heating the entire home.
The second consumer is an office or cubicle worker. These consumers have bosses who are also keeping their eye on the bottom line and know they can save a few dollars by not overheating a large cubicle-filled area or a large plant area that happens to effect the area of the front offices.
These two groups represent a cross section of ages, and
Show More

Related Documents: Essay on Eco 550 Assignment 2

Pizza Shop Essay

Albert Thomas Jr Managerial Economics ECO 550 Assignment #1 Instructor Xiaodong Wu Ph.D. 7/19/13 Abstract 1. The paper will show the economics of how the demand for a pizza shop will be factors. This paper will answer the following questions. Use Excel or other calculation software to input the data to calculate an estimated regression. Then, from the calculation provided, interpret the coefficient of determination, indicating how it will influence your decision to open the pizza…

Words 878 - Pages 4

Essay on Operation Decision

Assignment 2: Operations Decision 04/23/14 Joel Chagadama Dr. Bernadette West Eco 550 The purpose of this paper is to present the low-calorie microwaveable foods’ in support of the company’s long run operations decision plans. In the paper, I will examining the results of the new supply curve as it reflects to the current market structure and then take into account the expected changes to the selling environment and factors that may have caused the change. I will also examine chief…

Words 2109 - Pages 9

Long Term Investment Decision

Long-Term Investment Decision ECO 550 Managerial Economics and Globalization Long-Term Investment Decision Pricing is one element of marketing. Pricing strategies are important for companies who wish to achieve success by finding the price point where sales and profits are maximized. Companies often use a number of pricing strategies for products, such as a cost plus method, or calculate production and advertising costs then add a percentage to their unit costs, which is called…

Words 2043 - Pages 9