A Local Business Owner Is a Bit Uncertain of the Demand

question 63

Essay

A local business owner is a bit uncertain of the demand forecast, and he is timidly approaching the capacity decision for a business he is about to open. Here's how he describes the decisions that confront him over the next two years.
"First, I have to choose between building a large plant initially and building a small one that has room to expand. Or I could rent now and decide whether to build next year. That one, too, could be the large version or the small. If I build small, then after one year, I can review how good business was, and decide whether to expand. If I build large, there is no further option to enlarge."
Do not concern yourself with probabilities or payoff values. Simply draw the tree that illustrates the manager's decision alternatives and the chance events that go along with them. Use standard symbols for decision tree construction, and label all parts of your diagram carefully. To simplify, assume that business in the first year, and in the second, can be only "good" or "bad."

Identify the correct usage of vocabulary, including capitalization norms in professional communication.

Understand the functions of various punctuation marks in the English language.

Identify the different parts of speech and their definitions.

Recognize the structure and elements of a standard business letter.

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Definitions:

Social Workers

Experts trained to provide assistance and support to people in need to improve or manage their social functioning.

Working Phase

A stage in the helping relationship where the client and professional collaboratively implement interventions and work towards achieving goals.

Group Development

The process through which a group progresses through various stages of forming, storming, norming, and performing as it matures and solidifies its objectives and relationships.

Modeled Behavior

Actions demonstrated by individuals that serve as examples for others to observe and potentially imitate.