(Mt) – MGMT 3123 Arizona State University Management Control Process Questions

MGMT 3123 PRINCIPLES OF MANAGEMENT-FALL 2019 ASSIGNMENTS FOR WEEK 9 (week of October 14, 2019) Item 2: Watch the videos below to gain a better understanding of the Management Control Process. Effective Control Systems https://www.youtube.com/watch?v=QdGfMrdE4f8 Management Control https://www.youtube.com/watch?v=x2dALE8QGVs The Control Process https://www.youtube.com/watch?v=Xaf4iNOKRyU Key Points from Chapter 16 Control: 1. Control is the fourth Management Function (Plan, Organize, Lead and Control). This is the function that is used by managers to insure that the goals and plans that a manager develops for the organization are actually achieved. 2. In order to achieve the goals of any organization, an appropriate Control Systems must be developed to assure that the goals of the organization are being met; and if they are not being met, corrective action is taken to get performance back on track before it is too late to recover. 3. Defining what to control in an organization is the starting point of any effective control system. Each type of business has a unique set of activities or outcomes that must be controlled (managed) to insure success. For a few examples: In manufacturing it is employee productivity and product quality; in a retail business it is customer service, inventory and operational costs. 4. There are three basic types of Control Systems that can be used to monitor performance against goals: Feedback (measuring results after the event); Concurrent (monitoring results as a process is occurring); and Feed-forward (controlling process inputs before the process begins). Each of these methods of control are applicable, depending on the nature of work to be controlled. 5. Organizations have overall control systems or philosophies to control the overall performance of their organization. Some use Policies and Procedures (Bureaucratic Controls); Goal Setting and Performance Measures (Objective Controls); Organization Culture (Normative Controls); and Self-directed work groups (Concertive Control and Self-Controls), as overall philosophies of how they will manage overall control in their organizations. The culture and leadership of the organization determines what type of overall control system an 1|Page organization uses. 6. The Balanced Scorecard is a management control system that can be used for an entire business that balances all facets of the business to achieve long-term results. It blends (or balances) financial performance goals with customer service goals, internal operational goals, and organizational development goals, so that all aspects of the business are given equal attention by management. Companies that use this overall control and goal setting approach have better long term performance that those who do not. Southwest Airlines, the most successful airline in the U.S., has used the balanced score card for a number of years and sets goals in each of the four performance areas and leads all of their employees to focus on achieving the goals. ITEM 3: Discussion Board: Imagine that you are owner of a Food Truck that sells specialty gourmet sandwiches traveling around to local events throughout the state of Arkansas during the summers. In order to assure that your business is successful what are three things that must be controlled? What Standard would you set for each of the three items? What Method of Control would you use (feedback, feed-forward, or concurrent) for each of the items? Describe in some detail how you would control each of the three? Post on Week 9 Discussion Board, your answers to each of these questions as your initial post. Comment of s of three other student posts on their selection of items to control and their method of control. As your Final Post, comment on what you learned from the other student posts and how you might change your control plan. Discussion Board is due by Friday at midnight. LATE ASSIGNMENTS ARE NOT ACCEPTED ITEM 4: Post to your Weekly Learning Journal Week 9 Entry by end of week. 2|Page 3|Page ` BIZ CAFÉ SIMULATION INSTRUCTIONS-ONLINE Biz Café is a business simulation that gives you real world business management experience by setting up and operating a coffee shop near a college campus. In the Biz Café simulation, you will be making a number of business decisions each week. After each round, the weekly results are summarized, including: revenues (sales), cups of coffee sold, coffee usage, total operating costs, customer satisfaction, brand recognition, cash balance, and net income. Reviewing the results from each week gives you an opportunity to analyze why you got the results, and use that knowledge gained to adjust your decisions for the next week. Based on what you learned from the prior week’s round, and any new information presented, you will make new decisions and/or changes to prior decisions for the next weekly round, and again review and analyze the results for any changes for the next week’s round. There will also be weekly News posted after each round that can affect your decisions for the next round. Each round will also present you will present you with Incidents and/or opportunities that need to be dealt with. As in a real business, things happen each week that must be given management attention. The information below outlines how you should approach the simulation to gain from the most from the learning experience. There is also an outline of what information will be required for your paper upon completion of the Live Rounds. REGISTER-Begin by registering for the simulation and paying the $29.95 fee. You should have received an email from Interpretive Simulations inviting you to register. If you did not, notify me by email and I will have an invitation sent. 1. Once you have registered and logged in to the site, Read the Student Manual. You can access the manual at any time online. The Student Manual has an Introduction (which gives an overview of the Biz Café simulation and how to navigate the software) and three major sections: • Business Essentials-a brief introduction to the business and the management concepts that will be used in the simulation. • The Biz Café Case-information-background information on the business that you will be setting up and running. • Biz Café Operations Guide-outlines the operational aspects of using the Biz Café simulation software including how to get started, the various menus and help features, and a detailed description of each decision screen and report. To successfully complete the Biz Café simulation it is important that you gain a good understanding of both the operation of the simulation software as well as the basics of the Biz Café business. 1|Page 2. BIZ CAFÉ QUIZ-After you have read and reviewed the Student Manual, you should take the online quiz to confirm that you understand the basics of the business and how the simulation software functions. You may take the quiz up to 5 times, as it will help assure that you understand the basics of the business before you begin the simulation. This will help you make better decisions and avoid mistakes. The quiz grade is not recorded and will not affect your course grade in any way. 3. PRACTICE ROUNDS-. You can complete up to 6 practice rounds to become familiar with how the simulation works, what kind of decisions you are to make, and what results you are getting. You may also replay any of the Practice Rounds to change any decisions you want and see how the results change. Take full advantage of the practice rounds, as this will have a big effect on the results your get in the live rounds. In the past, those students who did not do the practice rounds struggled with the simulation, and made many bad decisions due to the lack of understanding how the simulation software works, and how various decisions affect the results. Resources are available at Interpretive Simulations if you have any problems with the software or with any of the functions of the software. They can be contacted through the website at any time. As you complete each PRACTICE ROUND, keep a record of each of the decisions you make (initial business setup and strategy decisions; management decisions-number of managers and servers and pay; marketing decisions-pricing and advertising; and operations decisions-shop hours and pounds of coffee to purchase, and number of coffee cups to purchase); the reasons why you made each decision (what facts and information you used to make each decision); and the results you got. This information will give you a better understanding of the interrelationship amongst the various variables, and help you make better decisions in the live rounds. 4. LIVE ROUNDS-START-UP DECISIONS- Begin the live rounds by selecting a strategy for your business and make the Start-Up Decisions to support your chosen strategy (choice of coffee maker, furniture/décor selection, etc.). As an example: are you going to be a low cost coffee shop, a modern moderate priced coffee shop, or a higher quality, upscale coffee shop? Explain why you chose your strategy and how your start-up decisions support that strategy. Name your coffee shop, and you can also create a logo if you like (but this is not required). In order to play the live rounds, you must have a name for your coffee shop. Chapter 6 in our textbook will give you some idea of what the basic strategies are that can be selected. 5. LIVE ROUND-PLAY. After you make your start-up decisions, you are ready to open your coffee shop and begin the first week of business. Opening Decisions-to start up the coffee shop (Round 1), make the decisions in each of the decision categories that you will start the business with: days and hours of operation; 2|Page number and pay of managers and servers; advertising; number of special logo cups to order; type of coffee and number of pounds to order; and pricing of coffee. Understanding what decision you made and why you made them. What facts did you use to make the decisions, including any principles that you applied from this management course or other business courses you have had such as marketing, operations, accounting, or finance. How do your opening round 1 decisions support your strategy? Use the tools available such as the Coffee Calculator, Decision Summary, Service Capacity Report, and Cash Budget Analysis, and Breakeven Worksheet to help make decisions and evaluate results. Using these tools will help you make better decisions and avoid major mistakes. Your round 1 decisions should support your overall business strategy and you should have a sound business decision for each of the Round 1 Decisions. Handle the Biz Café Special Incidents or Decisions that come up for each of the live rounds, and keep a record of the decision you make and why you made them. Special Incidents are things that occur each week and/or opportunities that are presented that you may or may not choose. Also Review any News that is available after each round to see if there is any news that might affect your business decisions for the next round. Before you advance each round, check the Decision Summary, which provides you with a summary of your decisions. If you want to change any of them based on this summary, you can before you advance to the next round. Once you ADVANCE, decisions become final for that round and cannot be changed. Review the results from each round (look at all the metrics provided), and determine why you got the results and decide, based on the results, what you will change in the next round. Also consider the Incidents, News and any other reports presented. Complete this process for all 16 Live Rounds. It is not recommended that you do all of the rounds at one time or even on the same day, as you need to take time to carefully evaluate the results to determine why you got them, then decide what you need to change to get better results for the next round. Student who rush through all the rounds, do not do very well. 6. FINAL PAPER-You will complete a final paper on the Biz Café simulation following the guidelines for written assignments for this course. Additional outside references will be not required for this paper, but all other APA requirements apply. The paper should include the following: • An ABSTRACT for the paper (see sample in Course Guidelines posted Blackboard for format and content requirements) 3|Page • • • • • Week No. Week’s Revenues Week’s Cups Sold An INTRODUCTORY PARAGRAPH stating the purpose of the paper and a brief description of what you will be covering in the paper. A brief BIZ CAFÉ CASE BACKGROUND (background of the Biz Café case, objectives, $25,000 loan, location, etc.) The BUSINESS STRATEGY that you selected for your coffee shop, why you selected the strategy and supporting Startup Decisions. OPENING DECISIONS-Week 1 decisions. What was each decision for the first week of operation in all of the decision categories, and why you made each one? (Management-manager’s salary, number of managers, number of servers and their pay; Marketing-pricing of coffee, and advertising type and frequency; Operations-days and hours of operation, type of coffee purchased, number of logo cups purchased; number of pounds of coffee purchased). How do your start-up decisions support your strategy? SIMULATION RESULTS-the overall results for the entire simulation (all 16 weeks); and an explanation of why you got them in each of the measurement categories (ending cash balance; cumulative total revenues (sales); Brand Awareness; cumulative net income (or loss); total cups of coffee sold for all rounds; Customer satisfaction at end of last round; Brand Awareness at end of last round). Include a table with data for each week. Also total on the table the Revenues, and Cups sold for all 16 weeks. Discuss the overall results and explain the major reasons why you got the results in each of the metric categories (revenues, cups sold, net income, cash balances, customer satisfaction, and brand awareness). Week’s Net Income Price for Medium Cup Cash Balance Customer Satisfaction Severs Hourly Wage Adv ertisi ng. No. Servers $ Week’s revenues and Week’s Net Income should be totaled at the end of table for all 12 weeks. Also include in your results a summary of the Special Decisions for each week: Week No. Issue Decisions and Reason 4|Page Brand Awareness These two tables will help you to fully analyze and explain the reasons for your final simulation results. This section of the paper should also include an analysis of the results including some information of why you got the results that you did. • • • DONE DIFFERENTLY-based on the analysis of your results, what might you have done differently if you could start the simulation over? What mistakes did you make and how could you have made better decisions? LEARNED ABOUT MANAGING A BUSINESS -as a result of doing the simulation, what did you learn about managing a real business? What are some of the things that you would do differently if it was a real business and you were the owner and spending your own money? SUMMARY AND CONCLUSIONS-a closing paragraph that summarizes the key points of the paper. Submit paper through Blackboard as an assignment under Biz Café Assignment by due date. 5|Page 6|Page Biz Cafe-Second Chance-Principles of Management Principles of Management Students: Now that everyone has completed their Biz Cafe Analysis Papers and have shared their results and learning with other students through this week’s Discussion Board, you all have an opportunity to apply what you have learned and complete another set of 16 Live Rounds over the next two weeks. I would encourage everyone to consider what mistakes they made in the first set of Live Rounds, and what was learned from other students, and also to take time to analyze the results after each round and end of with a successful, profitable business. BIZ CAFÉ SIMULATION 1 Biz Café Simulation for Good Times Coffee Shop Abstract 1 BIZ CAFÉ SIMULATION 2 Using Biz Café Simulation to Make Important Decisions on Modern Moderate-Priced Coffee Shop: Making Periodical Decisions at Good Times Coffee Shop Biz Café is an evitable tool for all entrepreneurs. The unique features of this software include the provision of making decisions at each decision category. At the initial stages, the Good Times Coffee Shop makes essential decisions regarding the best days and hours of operations. Additional the simulation process enables the coffee shop to come up with the right number of all the workers that would operate the business to get the maximum profit. The wages for each worker and the number of resources such as cups to start with also make part of the initial decisions. The subsequent stages of the decisions such as analysis of the previous operations based on efficiency. The operators of the Good Times Coffee Shop use the simulation results on such factors as the salaries, logistics on resources, and the production quantity to make further analysis of the viability of the decision. Depending on the results versus the expectations, the coffee shop may decide to either make changes to the prior choices or make new decisions. This tool aids this process by creating a summary by displaying coffee calculator, capacity report on service, breakeven worksheet, and cash budget analysis. Introduction BIZ CAFÉ SIMULATION 3 Good Times Coffee Shop is a modern moderate-priced shop that is reliant on Biz Café to guide its daily operations. Its establishment and activities have to respect several factors to become successful. Being a new venture, managers can easily make poor decisions based on their thoughts and understanding. The initial conclusions about the establishment of the shop have a significant impact on its overall operability. Uninformed choices at this stage is an implication of an early failure. The subsequent steps are not any different. The prior decisions may be valid for the success of the business. However, poor analysis and following solutions may change the whole course of the operations. Biz Café is a tool that the shop uses to guide all its activities from the initial planning to the final execution of the project. It helps in filling the decision gaps that may make the business not successful. Using this tool effectively can make the coffee shop implement all its operational activities without leaving anything to chance. At the same time, the device works to eliminate the gaps that groupthink theory by the managers may present. This study aims to analyse the effectiveness of the Biz Café Simulation software in decision making. It helps in making workable decisions on factors such as timesaving, cost-saving and giving the shop a competitive advantage. Biz Café Case Background Biz Café is a leading computer program for simulation of the decisions. The software is an essential tool that equips students with the necessary skills of creating and running businesses. In particular, the stimulation process leads the users into learning skills needed for managers, operators, marketers, and accountants, these skills are improved by running their coffee shops for a maximum of 16 simulated weeks. This duration is a reasonably long period to make the student gain all the necessary decisions regarding the management, operations, marketing, and accounting techniques. BIZ CAFÉ SIMULATION 4 The setting up this venture requires approximately $25000. This amount calls for external sourcing. The entrepreneur seeks a loan from any financial institution and commits to paying within the specified duration of time. Also, Good Times Coffee Shop intends to open its premises within the institution with the target customers being the students. The entrepreneur of the Good Times Coffee Shop is a young businessman. He may lack the necessary skills that he requires for the proper management of this venture. Some of the factors that contribute to this inadequacy are lack of experience, new investment, and lack of specific approach to the business. However, he uses the software to help him come up with various essential management techniques that ensure the success of the venture. Objectives Engaging in a new venture may be tasking and demanding. However, laying an appropriate foundation is a big step towards success. The foundation includes specifying the objectives of the investment. These objectives inform the direction the business takes by keeping it on course concerning its overall target. The principal goals include: • To maximize the decision automation process of the Biz Café simulation. • To establish the most effective ways of remaining competitive in the business operation cost based on the simulated decisions. • To construct proper evaluation techniques on the project. • To come up with a modern moderate-priced sustainable coffee shop. BIZ CAFÉ SIMULATION 5 Business Strategy Good Times Coffee Shop chose the strategy of gaining a technological advantage. This strategy is to ensure that the implementation of the plans of the business respect the dynamic technology environment. The business sector is not static any more. There are changes that all the organizations must keep up with to be successful. The choice of the strategy is a critical element in ensuring that all the vital decisions regarding the business are keenly made. The start-up process acknowledges that all the decisions made impact the organization differently. However, at the start-up, the entrepreneur tends to lack enough information that facilitates the conclusive right decision-making process. As such, the entrepreneur identifies the right decisions based on the options got from the simulator. Here, he can identify potential customers. Afterwards, there is an identification of the available options. The prospect that the entrepreneur comes up concerning the values of the start-up. The simulation helps him to gather the information that is relevant in operation. These pieces of information are necessary for implementing any decisions to either proceed with the project or not. The last stage is the evaluation, where the entrepreneur evaluates all the possible outcomes. The assessment informs the decision to execute the plan and all the requirements. BIZ CAFÉ SIMULATION 6 Opening Decisions: Week 1 Decisions Management The venture needs the service of two managers who are to be paid not more than $100 per month. On the other hand, the enterprise needs a total of seven servers who will earn $40 each per month. This decision comes from the fact that human resources need motivation. However, the total cash inflow should be substantially different from the outflow so that the business continues operating and making a profit. The decision on the number of employees is based on the fact that the managers should help one another in making decisions. The servers should not be seven to facilitate the smooth serving process. Marketing The price per cup of coffee should be $5. This is a fair price to all classes of people and does not lock any possible customer out. The venture finds social media advertisements are handy in operation because of the bigger audience it reaches over a short period. Social media is a cheap platform that encourages advertisements of the venture every day. It has a provision of efficiently adding new features easily and quickly to the current coffee information daily. It also has the requirement for getting all the feedbacks that can also inform some decisions. Operations The business operates from Monday to Saturday. The working hours are from 6 a.m. to 10 p.m. The days are chosen because of the many sales that occur on them. The working hours accommodate all the early risers to all those who stay awake till late in the evening. Peet’s coffee and McCafe lead the coffee brands that the coffee shop deal in. These are the targets favourite brands and are cheap concerning the goals of the business. However, the shop intends to use no logo cup as a way of saving on the cost. Any container can do so long as the customers get a fair treatment at the shop. The venture intends to use three pounds of coffee per week. BIZ CAFÉ SIMULATION 7 The three pounds yield approximately twelve pots of strong coffee. The servers deliver six coffee cups per cup, thereby making a total of 216 serving per week. The value of pounds is dependent on the fact that the venture targets at least 200 customers per week. The startup decisions support the strategy by outlining a fair balance between the expenses and the income. The strategy decisions ensure that the implementation of the policy is fulfilled. BIZ CAFÉ SIMULATION 8 Simulation Results Sever Advertisi No. Customer s ng. Satisfactio Hourl n y Price Week’s Week’s Week’s Week Revenu No. for Cash Net Cups Sold es Mediu Server Brand s Balance Income Awareness $ m Cup Wage 1 1040 208 297 5 405 5/5 5 20 7 3/5 2 995 199 302 5 382 5/5 5 20 7 3/5 3 1005 201 313 5 391 5/5 5 20 7 4/5 4 1015 203 310 5 366 5/5 5 20 7 4/5 5 1050 210 306 5 390 5/5 5 20 7 4/5 6 1080 216 312 5 395 5/5 5 20 7 4/5 7 1065 213 305 5 399 5/5 5 20 7 5/5 8 1045 209 302 5 397 5/5 5 20 7 5/5 9 1095 219 304 5 390 5/5 5 20 7 5/5 10 1075 215 313 5 391 5/5 5 20 7 5/5 11 1120 224 315 5 394 5/5 5 20 7 5/5 12 1055 211 312 5 396 5/5 5 20 7 5/5 13 1065 213 304 5 400 5/5 5 20 7 5/5 14 1050 210 311 5 398 5/5 5 20 7 5/5 15 1070 214 303 5 396 5/5 5 20 7 5/5 16 1085 217 306 5 389 5/5 5 20 7 5/5 BIZ CAFÉ SIMULATION Week Issue 9 Decisions and Reason No. . 1 Management There should be two managers. The managers can work together to come up with a concrete solution 2 Price The cheapest coffee brands chosen. They will maximize the profits 3 Advertisement Creation of brand awareness using social media. Social media is cheap, widespread and quick. 4 Logistics Purchase of production requirements on monthly basis. Enjoying discount 5 Feedback Analysis of the customers’ reviews. Identification of any gaps present. 6 Policy Considering government policies. To avoid fines 7 Technology Adopting modern equipment. To remain efficient. 8 Market Market analysis. To establish what the venture can do differently 9 Production Steady production rate. To avoid depletion. 10 Employees Ensure employees’ flexibility. To adapt to any changes. 11 Employee’s welfare Ensure employees’ welfare. BIZ CAFÉ SIMULATION 10 To ensure constant productivity. 12 Production Defined production hours. For consistency. 13 Sales Steady sales. To measure all the risks that may be available. 14 Logos Use no logo To allow avoid unnecessary expenses. 15 Hygiene Ensure the best hygiene practices. To raise customer impression. 16 Auditing Regular internal audits To avoid any financial loopholes. Discussion The overall results show a growth in sales. As a consequence, the revenue, the net income registered a rising trend. Customers’ satisfaction and brand awareness also overly increased. The results can be attributed to the fact that the simulator guided the decisions regarding all these factors efficiently. BIZ CAFÉ SIMULATION 11 Done Differently The venture would have used the logo as a way of identification. However, the enterprise made the mistake of not providing all the brands to accommodate all the consumers. All the gaps would have been filled by performing a prior market analysis. The analysis would reveal the real expectations of the potential consumers. Learned About Managing a Business Managing a real business is an involving task. It requires a combination of several factors. They all depend on the decisions that the managers make. The choices are the true cornerstones of all the business operations. If it were a real business, things would have been done differently. There should be a prior analysis of the market so that the right expectations of the consumers are respected. Summary and Conclusion Biz Café is an essential tool that aids the process of decision-making. With it, the entrepreneurs can be sure to get the accurate picture of a business operation. It uses its features to display all the essential components that the managers analyse critically. Afterwards, essential solutions to the problems are developed. However, the simulation process is different from the real world execution of the project. In the real world project, an implementation of a business venture requires more than just relying on the observations that are seen on the operations. The real-world business uses other factors such as own judgement and implementation of other supportive activities. BIZ CAFÉ SIMULATION 12 References DeMicco, F., & McCracken, J. D. (2017). The BizCafe Interpretive Simulation case study to teach strategic entrepreneurship. Journal of foodservice business research, 20(5), 579594. Felton, E. (2018). Filtered: Coffee, the Café and the 21st-Century City. Routledge. Herriott, L. (2007). 1,000 Restaurant Bar and Cafe Graphics: From Signage to Logos and Everything in Between. Rockport Publishers.

• WE OFFER THE BEST CUSTOM PAPER WRITING SERVICES. WE HAVE DONE THIS QUESTION BEFORE, WE CAN ALSO DO IT FOR YOU.
• Assignment status: Already Solved By Our Experts
• (USA, AUS, UK & CA PhD. Writers)
• CLICK HERE TO GET A PROFESSIONAL WRITER TO WORK ON THIS PAPER AND OTHER SIMILAR PAPERS, GET A NON PLAGIARIZED PAPER FROM OUR EXPERTS

QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER

Why Choose Us?

How It Works

• Click on the “Place Your Order” tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
• Fill in your paper’s requirements in the “PAPER DETAILS” section.
• Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
• Click “CREATE ACCOUNT & SIGN IN” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
• From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.

About AcademicWritersBay.com

AcademicWritersBay.com is an easy-to-use and reliable service that is ready to assist you with your papers 24/7/ 365days a year. 99% of our customers are happy with their papers. Our team is efficient and will always tackle your essay needs comprehensively assuring you of excellent results. Feel free to ask them anything concerning your essay demands or Order.

AcademicWritersBay.com is a private company that offers academic support and assistance to students at all levels. Our mission is to provide proficient and high quality academic services to our highly esteemed clients. AcademicWritersBay.com is equipped with competent and proficient writers to tackle all types of your academic needs, and provide you with excellent results. Most of our writers are holders of master’s degrees or PhDs, which is an surety of excellent results to our clients. We provide assistance to students all over the world.
We provide high quality term papers, research papers, essays, proposals, theses and many others. At AcademicWritersBay.com, you can be sure of excellent grades in your assignments and final exams.