Solved

Mini-Case "These Are Exciting Times for Our Company. We've Made a a Lot

question 213

Multiple Choice

Mini-Case
"These are exciting times for our company. We've made a lot of changes over the past two years that have really improved our operations and lowered our costs. Now we are ready to expand into new markets. Minimotors is on its way to becoming a global player." The speaker was Sparky Weyer, president and CEO of Minimotors, Inc., a growing manufacturer of small (some of them downright tiny) electric motors used in a variety of power tools and appliances. Sparky was meeting with potential financial backers in an effort to obtain funding for some expensive new machinery he wanted to purchase. "You may have heard about some of the ways we've cut costs," Sparky continued. "We've developed a new arrangement with several of our biggest suppliers. They've agreed to make more frequent deliveries tied directly to our production schedules. This will help us reduce our inventory costs dramatically. We've also greatly reduced the number of defective motors we produce by carefully keeping tabs on all of our manufacturing processes. In fact, we have set a goal of reducing our defects to 3.4 parts per million. The main purpose of my meeting with you today is because we want to install some sophisticated new machinery and software that will allow us to quickly design and produce motors to the exact specifications of our customers. The machinery is computer-controlled and can produce custom-designed products at very little increase in cost compared to our mass-produced motors. We feel this flexibility and quick response time will give us a tremendous competitive advantage and help us attract new customers. Installing the new equipment and training our workers to use it properly will be a complex project, but I'm confident that once we get everything up and running we'll be able to strengthen our position as the leading maker of high-quality electric motors."
-Sparky knows that installing the new equipment and training workers to use it efficiently will be a long and complex process consisting of many different tasks. Which of the following methods would help him determine how long this project is likely to take?

Definitions:

Autobiographical Memory

The aspect of memory that involves the recollection of personal experiences and events from one's own life.

Family Stories

Narratives shared within a family that recount significant events, relationships, or history of the family members.

Unconscious Memories

Memories that are not within one's conscious awareness, often influencing behaviors and decisions without one's realization.

Actual Recall

Actual recall refers to the process of accurately retrieving and reproducing information from memory without the aid of cues, often contrasted with recognition or prompted recall.