Management And The Arts 4th Edition William James Byrnes - Solutions

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The aim of inventory management can be summarized as ‘‘achieving a specified level of customer service at minimum cost’’. To what extent do you think that this is true?
Strategic decisions within an organization tend to be vague and unfocused.How can these hazy aspirations have any impact on a precise area like inventory management? How can different business strategies affect the decisions made by inventory managers?
Why is it better to view inventory management in the broader context of logistics, than to consider it as a separate function?
How is demand for an item found for independent demand inventory methods?
What three methods are used to set the timing of orders?
Why is the average stock level not included as a fundamental question of inventory control?
What is the main purpose of measuring inventory performance?
Should organizations aim for a high stock turnover or a low one?
Very roughly, what is the cost of storing a freezer full of food in a kitchen?
To what extent does the value of stock depend on the accounting conventions used?
Lower stocks generally give lower costs and better performance. Do you think this is true?
How can stocks make some business strategies infeasible?
What are the three main factors that set the context for decisions about stocks?
Does the strategic focus have any effect on stocks?
What is the difference between lean and agile strategies?
Senior logistics managers make all the decisions about inventories. Do you think this is true?
At what level in an organization are decisions made about stocks?
Every activity should concentrate on its own objectives, and not interfere with others. This will always give the best results. Do you agree with this?
What activities are normally included in logistics?
Why have the stocks in some countries fallen faster than in other countries?
Stock levels are inevitably declining. Eventually we will be able to work without any stock at all. Do you think this is true?
Many trends in business have a direct impact on stock management. What do you think are the most important trends at the moment?
Organizations in a supply chain can never really co-operate, as they compete for available money. Customers should use every available means to pay the lowest price for materials; suppliers should charge the highest prices they can.Is this a more realistic view of relationships in a supply chain?
Organizations hold stock to give a cushion between operations. But this stock is expensive, so a better approach would solve any problems and do away with the need for this buffering. Does this seem a reasonable suggestion? If it is, how could we do away with the need for buffers?
Is it true that every organization holds stock?
On a national scale, reducing variations in stock levels would reduce the severity of business cycles. Do you think this is true?
Why do stock levels tend to fall during periods of recession?
Is the objective of minimizing the costs of stock holding the same as minimizing stock?
Why are organizations moving towards lower stocks?
Several trends in operations are leading to lower stocks. Is it inevitable that stocks will continue to decrease?
Are the effects of these trends independent of each other?
Why do you think that there are currently such rapid changes affecting inventory management?
A company can only increase its profits by paying its suppliers less or charging its customers more. Do you think this is true?
Why should organizations within the same supply chain work together?
Good customer service comes when stocks of finished goods are as close as possible to final customers. Do you agree with this?
What is a supply chain?
How would you classify lubricating oil for an engine?
If suppliers were reliable, there would be no need for stock. Do you think this is true?
How do stocks act as a buffer between operations?
How would you define ‘suppliers’ and ‘customers’?
If a stock item is ‘Everyperson’s Encyclopaedia’, what is a unit?
What is the difference between stock and inventory?
Discuss the regulatory response to the BNE failure.Was it timely? Appropriate?Why?
How did Bank of New England end up with such a large concentration of loans in a single sector?What would you, as a risk manager, consider danger signs?
Discuss why the bankruptcy of Lehman Brothers in 2008 was felt around the world.Whatwas, fromyour point of view, the most significant factor that led to the failure of such a venerable institution?
Describe the events that led to the Royal Bank of Scotland requiring a bailout from UK taxpayers after theGlobal FinancialCrisis?Whywas it significant that thebank failedto pass stress tests in 2016, almost eight years later?
Describe the current trend in interest rates in your market. At which stage of the cycle are rates?
How can changes in interest rates affect the asset and liability management plans of a bank?
What are stress tests? What is their aim? Describe the main elements of an effective stress test.
Describe the events that led to the global financial crisis.Howdid regulators react?What was the aftermath?
What is securitisation?What purpose does it serve for banks?
Describe immunisation.What would a perfect immunisation strategy be like?
Discuss the limitations of interest rate gap analysis.Why is such analysis useful?Why is it not always completely accurate?
Describe and discuss the four different categories of interest rate risk. Why is interest rate risk an important consideration for banks?
How do stress tests help shore up the banking system?
What is the reserve requirement ratio (RRR) and what purpose does it serve?
What is a liquidity gap? How does it affect liquidity planning?
Define and explain the two key ratios that the BaselCommittee on Banking Supervision(BCBS) uses to help banks and regulators ensure adequate levels of liquidity.
Explain interbank networks and how banks can use them to manage their liquidity.
What are some sources of funds that banks can access to manage their liabilities?
What is duration management? How do banks use it to manage their liquid assets?
Why do banks consider loans to be assets?What other assets do banks typically hold?How do they manage these assets?
Describe and evaluate some of the well-known techniques to manage liquidity risk.
Describe the typical composition of a bank’s loan portfolio and explain why the composition is critical in loan portfolio management.
How do interest-rate changes affect liability management?
What is the function of the Asset andManagement Liability Committee (ALCO) and how do the various ALMdesk reports facilitate the committee in carrying out its role?
What is the three-stage approach for asset and liabilitymanagement to use inmanaging the balance sheet?
How is the composite interest rate inHong Kong derived? Assuming all assets of a bank are prime-based, what will be the impact on net interest spread if the bank prices the cost of funding according to the composite rate?
Explain how a bank’s profitability can be analysed using financial information in a balance sheet and a profit-and-loss report, as well as the ratios generated from those numbers.
Bank A is a retail bank inHong Kong, while Bank B is theHong Kong operation of a US investment bank. What are the likely sources of each bank’s earnings, and what would be the reasons for the difference?
A bank typically has a banking book and a trading book. Why is there a need for these two books and what are the differences between them?
How do you see your role, as a (future) facilities and workplace management professional, in relation to realising a sustainability transition of society?
Could you think of additional expertise, skills and attitudes, beyond the ones discussed in this chapter, that would further strengthen sustainable facilities and workplace management competencies.
Choose three different facility service suppliers that you are familiar with and establish which level of sustainable business model logic they are currently applying.
What positive difference could facilities and workplace management organisations, departments and professionals make to your local community?
What is a meaningful and personal experience for you when working or studying, and does that experience involve the local community?
Which sharing platforms do you know, and have you actively used them?
Would you be able to identify a facilities and workplace management organisation that excels in creating a clear and coherent sustainability brand/identity? What would be your criteria to determine excellence?
Name three brands that have a clear sustainability brand/identity.
Which brands do you affiliate yourself with the most, and why?
In which company or job were you treated the best, and why?
How would you create the right context in a facilities and workplace management setting that you are familiar with to promote sustainable behaviour?
List three personal values and categorise them according to the types of goals discussed in this chapter.
Think of a situation in which sustainable alternatives were offered to you and how the context influenced your decisions and behaviour.
If you were the decision-maker of a specific facilities and workplace management organisation that you are familiar with, would you invest in improving technologies and processes or in changing human behaviour to improve the sustainability performance of your organisation, and why?
How do you assess your own decisions and behaviour in relation to the Big Five discussed in this chapter? And are your decisions and behaviour different than those by people around you, such as family members, neighbours, colleagues and fellow- students?
What support from the facilities and workplace management industry could help you make these changes?
Think of your own consumption pattern as an employee, student, patient or shopper. What changes could or should you make, from a sustainability perspective?
Could you name a few facilities and workplace management businesses or departments, and end-user experiences staged by them, that represent good examples of how to implement sustainability?
Think of ways that sustainability has played/plays a role in your life so far.
Do the six environments affect the various art forms in different ways? For example, are theater groups more or less infl uenced by changes in these environments than art museums? Explain.AppendixLO1
This chapter focused on the infl uence of the environments on organizations. What infl uence do these environments have on the individual artist?AppendixLO1
What combination of demographic descriptors would you use to outline why you and your family or friends are arts consumers?AppendixLO1
What opportunities and threats will artists and arts organizations face over the next fi ve to ten years?AppendixLO1
Analyze the mission/vision/values statement of an arts organization you are familiar with. Is it clear and to the point? What changes would you make to the mission/vision statement to improve its clarity?AppendixLO1
What would be a good strategy for an arts organization to adopt if the national economy is in a recession and it is affecting the community?AppendixLO1
Use the fi ve steps of the formal planning process to plot out your own personal short-range plans (for the next year) and intermediate-range plans (for the next two to three years).AppendixLO1
What are the formal and informal organizational structures of the theater, dance, music, art, or arts administration department at your college or university? Do these structures effectively support the mission of the department? Explain. How would you reorganize the department to make it more
Can you cite examples of breakdowns in the vertical or horizontal coordination on a project or production with which you were recently involved? How would you improve the coordination systems to minimize these problems in the future?AppendixLO1
Based on your own work experience, identify as many of the values, behavior patterns, language, rites, and rituals that formed the corporate culture of the organization.AppendixLO1

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Management And The Arts 4th Edition William James Byrnes - Solutions

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