Mini-Case: a Day at the Office

question 3

Essay

Mini-Case: A Day at the Office. Your boss has called you into his office. It's 9:00 a.m. Friday morning. He asks, "I've talked to others in your group, and they have agreed to work this weekend to get the project out the door by next Monday. I had better be able to count on you. It's not going to pretty if you can't make it work." You respond, "Let me check my calendar and get back to you by 11:00 a.m. I need to double-check my calendar before I commit." Your boss grudgingly agrees. In checking your schedule, you see that you have a meeting at 2:00 p.m. with one of your company's major clients to review the latest shipment. If you work this weekend, you will have to cancel the meeting because you will have some preparation work to do prior to working on the project this weekend. The client will not be pleased if you cancel the meeting. You immediately find Max and say, "Max, good friend, remember that time I pulled your shift last May when your wife had the baby? Well, I need for you to cover for me this weekend. Can you?" Max agrees. You go to your boss's office and before you have an opportunity to speak, he says, "I was a little brusque with you earlier. The fact is, I really need for you to see this project through for me. You are the only one in the group that fully comprehends what this project means to the company. I need your expertise and judgment on this."
-Which influence strategy did your boss try the second time you spoke with him?

Understand the definition and importance of supply chain management in a global context.

Identify and describe different transportation modes and their applications.

Recognize and explain the concept of sustainable supply chain practices.

Explain the role of distribution centers in supply chains.

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Definitions:

Decision-Making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

Overconfidence

This is a bias in behavioral finance where investors believe they have superior knowledge or capabilities, leading to overly optimistic assessments of their investment decisions.

Information Precision

The degree of accuracy and reliability of information, especially in the context of financial markets or decision-making processes.

Value-Relevant Information

Information that could impact investors' decisions because it affects the valuation of a company's shares, including financial performance, changes in assets or liabilities, and market trends.