Essay about Mgmt530 Final

676 Words Mar 12th, 2016 3 Pages
MGMT530 Final

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1. (TCOs A, B, C, D, E, F, G, and H) Hoosier Services recently celebrated its 10th anniversary as a professional services firm that handles investigations for law firms offering amenities, such as background checks, surveillance, interviewing of witnesses, crash scene investigation, and other related services.

The company was founded by Lee Herbert who had extensive experience working for companies that handle investigative work. Herbert is more of a people person and is always looking for the next new client to take on. Admittedly, Herbert had no experience in running a business when he decided to go out on his own and enlisted the help of his
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Even though the two are business partners, Herbert is the president and Simmons the vice president. Herbert asked Simmons to evaluate several options to further expand the business. From Herbert's perspective, he has concluded that three objectives are important in this decision. First, is to find a city with a large number of Fortune 500 companies, a cost of living comparable to Indianapolis, and a city that is in a reasonable distance from Indianapolis as he and Simmons would be spending a lot of time in the new office at first. Because both have families with young children, Herbert feels that the distance is twice as important as the other criteria.

Here is the summary of Simmons' research.

I. Chicago, Illinois: Number of Fortune 500 Companies: 8; Cost of Living Comparison: 1.045 (more than Indianapolis); Driving Distance: 159 miles

II. St. Louis, Missouri: Number of Fortune 500 Companies: 8; Cost of Living Comparison: 0.809 (less than Indianapolis); Driving Distance: 461 miles

III. Milwaukee, Wisconsin: Number of Fortune 500 Companies: 5; Cost of Living Comparison: 0.910 (less than Indianapolis); Driving Distance: 239 miles

1. Define the decision problem and the general nature of the problem. (20 Points) (Points : 20)
2. What event triggered the situation? (20 Points) (Points : 20)
3. Are we imposing any implied constraints on the situation? (20 Points) (Points : 20)
4. Define the objectives. (20 Points) (Points : 20)

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