Brief: Franklin Fan Company – Forecasting 1 answer below »
Assignment: Business Brief: Franklin Fan Company – Forecasting
Read the case and answer this equations as paragraphs .
1. Introduction The first half of opening paragraph is to provide a synopsis of the company. The second half of the opening paragraph is state the problem (From Step 1 of the model).
2. Analysis: The analytical section should be based on your personal assessment of the information you obtained from Steps 2 and 3 of the model. Provide only key relevant information and logical discussion in support of your findings.
3. Recommendations:This section should state your recommendation based on your analysis of the case information and situation outcome. (From Step 4 of the model). Your recommendation should be supported by your analysis section
Please follow the rubric:
· Develops an opening paragraph that introduces the case and identifies the problem and demonstrates solid ability to accomplish the assignment. Step 1 of the 5-Step Critical Thinking Decision Making Model.
· Discusses the issues with Franklin Fan’s current forecasting method and demonstrates solid ability to accomplish the assignment. Step 2 of the 5-Step Critical Thinking Decision Making Model
· Recommends how to improve the forecasting method used by the company and demonstrates solid ability to accomplish the assignment. Step 3 of the 5-Step Critical Thinking Decision Making Model.
· Develops a forecast for each month of next year and justifies the forecast and method used and demonstrates solid ability to accomplish the assignment. Step 4 of the 5-Step Critical Thinking Decision Making Model
· Consistently does a good job of integrating established operation management principles into the discussion.
· Consistently and effectively synthesizes information, which provides strong support to main ideas.
· Develops ideas with clarity and logic. Ideas flow smoothly from one to another and are clearly linked to each other.
· Consistently uses supporting documentation that is properly referenced and cited
· Considered holistically, the student demonstrates a proficient ability to write at the graduate level.
1. Review theBrief Rubric – Franklin Fan Company-Forecasting.
2. Read theFranklin Fan Company-Forecasting case.
Case Background: You are to take on the role ofSharon Place. Address your brief to Dan Block and Ed Spriggs.
3. Download the5-Step Critical-Thinking Decision-Making Model.
a. Complete Step 1: Identify the problem(s) and uncertainties based on the assigned problem.
b. Complete Step 2: Obtain Information addressing the problem(s) from Step 1 and the following:
i. Comment on the forecasting system being used by the Franklin Fan Company.
ii. Suggest changes or improvements that you believe are justified.
iii. Develop your own forecast for window fans for each month of the next year, 2015. Justify your forecast and the method you used.
c. Complete Step 3: Make predictions about the future on the matrix.
d. Complete Step 4: Make decisions by choosing among the alternatives on the matrix.
Step 1: Identify the problem(s) and uncertainties.
What exactly is the problem…
(Study the problem to clarify what you need to know to solve it. Distinguish problems over which you have some control from problems over which you have no control. Pay special attention to controversial issues in which it is essential to consider multiple points of view.)
The problem is this …
(Write out the problem clearly and precisely, with details. Write the problem in different ways until you get it perfectly clear in your mind.)
This is an important problem because…
(Remember in business, a problem is important if it affects the bottom line. So how does this problem affect the bottom line (net income).
The key question(s) that needs to be answered to solve this problem is…
(Every problem has questions connected to it. Here we want you to write out the most important question(s) you need to answer to solve the problem. State it clearly and precisely. Being specific is very important.)
Step 2: Obtain information.
The following information is needed to answer this question…
(Here you are looking for the facts and/or data that help you solve the problem. Actively seek the information most relevant to the question. Include in that information options for action, both short-term and long-term. Recognize limitations in the terms of resources such as money, time, and people.)
Some important assumptions I am using in my thinking are…
(Figure out what you are taking for granted. Make sure these assumptions are reasonable. Watch out for self – serving or unjustified assumptions.)
The points of view relevant to this problem belong to…
(Who are your stakeholders? Determine whether the stakeholder’s point of view is relevant.)
Note: Remember to view the information you have obtained for potential bias. This is from the perspective of your own bias to the research and the bias of the authors who compiled the data and the research you gathered. In other words, do not discount the importance of other’s data because of your own bias (is).
Step 3: Make predictions about the future.
If this problem gets solved, some important implications are… (Evaluate options, taking into account the advantages and disadvantages of possible decisions before acting. What consequences are likely to follow from this or that decision?)
Build better customer relations
Improve internal processes resulting in better customer service
Retention of sales reps
If this problem does not get solved, some important implications are… (Evaluate options, taking into account the advantages and disadvantages of possible decisions before acting. What consequences are likely to follow from this or that decision?)
The loss of national customers
A disengaged workforce (account reps)
Loss of valued sales reps
The potential alternative solutions to solve the problem are… (If the problem involves multiple conflicting points of view, you will have to assess which solution is the best.)
Account Types – Organize sales reps by geography, account type, or a hybrid
Defining Your Terms – Define and train on the allocation of national account ownership in the current system
Payroll Processes – Analyze pay structure to explore commission-splitting options
Note: if the problem is one-dimensional, there may be just one correct solution.
Step 4: Make decisions by choosing among alternatives.
What is the best solution and why…
(After following the process above, I think the best solution to the problem is… Defend your recommendation.)
Step 5: Implement the decision, evaluate performance, and learn.
In business, the fifth step in the decision making process is implementation. In the MBA program, most times you will end with Step 4 since you will not have the opportunity to implement. You may be asked to develop an implementation plan and recommend how you will evaluate performance in some assignments.
4. Review theBusiness Brief Guidelines andSample Business Brief for correct MBA Business Brief formatting.
5. In MBA Business Brief format, write a one-page analysis incorporating the following.
a. APA citation(s) and reference(s).
Note: You are expected to compose your Business Brief utilizing the concepts learned in MBA 707. Specifically, Chapters 4, 5, and 6 from the textbook: Bovee, C., & Thill, J. (2015). Business Communication Today (13th ed.). Bullet points and direct quotes are not to be used.
6. Attach the following appendices to your paper:
a. Appendix A: CompletedWK5-STUDENT SPREADSHEET-FF-FORECASTING.
b. Appendix B: Completed 5-Step Critical Thinking Decision Making Model.
c. Appendix C: Grading Rubric for the assignment