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MGMT 530 Managerial DecisionMaking Final Exam Complete A+
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MGMT 530 Managerial Decision-Making Final Exam Complete Answer
(TCOs A, B, C, D, E, F, G and H) Tidewater Services recently celebrated its 10th
anniversary as a professional services firm that handles investigations for law firms
offering amenities, such as background checks, surveillance, interviewing of witnesses,
crash scene investigation, and other related services.
The company was founded by Lee Herbert who had extensive experience working for
companies that handle investigative work. Herbert is more of a people person and is
always looking for the next new client to take on. Admittedly, Herbert had no experience in
running a business when he decided to go out on his own and enlisted the help of his long
time friend, Bradley Simmons.
Simmons has spent his career working for larger corporations in finance and had no
experience in investigative services, but was looking for a change.
Over the 10 years since the companys founding, Tidewater Services struggled at first but
slowly grew over the last five years. The more law firms the company works with, the more
cases they receive. The more cases they receive, the more hours they can bill. Tidewater
currently has six investigators and two clerks in addition to Herbert and Simmons. Over
the years, they have expanded and contracted based on the volume of business and the
local economy.
Based in Norfolk, Virginia, Herbert is really interested in expanding the business to other
major cities in the region, believing that there are only so many law firms here in
Norfolk. He feels that if theyve survived 10 years, then they should continue to focus on
growing the business. Simmons, on the other hand, feels that expansion will put the
company at risk as it takes time to develop a decent client base. They had opened a second
office several years back across town but eventually closed it when it didnt generate
enough revenue to cover expenses. Hes worried the expansion may bankrupt the

company.
Even though the two are business partners, Herbert is the president and Simmons the vice
president. Herbert asked Simmons to evaluate several options to further expand the
business. From Herberts perspective, he has concluded that three objectives are important
in this decision. First, is to find a city with a large number of Fortune 500 companies, a
cost of living comparable to Norfolk, and a city that is in a reasonable distance from
Norfolk as he and Simmons would be spending a lot of time in the new office at first.
Because both have families with young children, Herbert feels that the distance is twice as
important as the other criteria.
Here is the summary of Simmons research.
I. Richmond, Virginia: Number of Fortune 500 Companies: 5; Cost of Living Comparison:
0.934 (less than Norfolk); Driving Distance: 81 miles
II. Charlotte, North Carolina: Number of Fortune 500 Companies: 7; Cost of Living
Comparison: 0.834 (less than Norfolk); Driving Distance: 283 miles
III. Atlanta, Georgia: Number of Fortune 500 Companies: 10; Cost of Living Comparison:
0.854 (less than Norfolk); Driving Distance: 503 miles
Question 1. Define the decision problem and the general nature of the problem. (20 Points)
Question 2. What event triggered
Question 3. Are we imposing any implied constraints on the situation
Question 4. Define the objectives
Question 5. Identify the alternatives
Question 6. Compare and contrast the consequences for all three alternatives by the
fundamental objectives. Rank each alternative using proportional scoring, include weights
on the objectives. Are there any dominated alternatives that can be eliminated? Are there
any even swaps.
Question 7. What decision-making styles are at work here? What is their attitude towards
risk?
Question 8. Are there any biases in play here that may impact the effectiveness of the
decision?
Question 9. What are the uncertainties for this decision situation? What are their
consequences?
Question 10. Evaluate this decision situation using tradeoffs. What location should they
select? Are there any linked decisions? Discuss any assumptions as needed.

MGMT 530 Managerial DecisionMaking Final Exam Complete A+

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