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Instructions:

Assess several business structures and their characteristics advantages, and disadvantages for POP. Those structures are: • General Partnership • Limited Partnership • General Corporation • Limited Liability Company

Background: Plenty-O-Plants (POP)

Addison, Benita, Cynthia, and Dante are all successful business owners who are friends or professional acquaintances in the business community. Addison has been the project manager for ten years for a construction company owned by a general contractor. Benita has been the Director of Marketing for a Mid-Atlantic-based carpet cleaning company with franchises on the East Coast. Cynthia owns a mid-sized, successful nursery focusing exclusively on exotic house plants. Sam owns a residential landscaping business. The four recently attended a Chamber of Commerce presentation about “green” businesses. This spurred their interest and they went to dinner following the Chamber event to discuss possible business opportunities. After several meetings, they decided to start a business together. The group decided that a plant nursey, landscaping and design business would be a good fit for their professional experiences, skills, and interests. They agreed to pursue the possibility of launching a Maryland-based service business that they would like to name Plenty-O-Plants (“POP”). The service would focus on offering environmentally friendly native plants in the area. The four met several times with a business consultant to complete an analysis of market trends and demands in commercial landscaping and design and confirm whether POP would likely be a viable business. The market analysis showed an increased demand and need for their services environmentally responsible landscaping businesses in the region. Consequently, the group decided to move forward with their idea to establish and market POP. The potential cleaner owners recently attended a start-up business seminar sponsored by the local chapter of the Small Business Administration. Following the seminar, the owners began to define the nature and scope of the work necessary to prepare a plan for the start-up business. They realize this process requires time, thoughtful analysis, and clear guidelines. They also recognize the need for professional business consultants, such as TLG, to guide their start-up for Clean. Consequently, the four have hired TLG to advise and guide them through the start-up process for Clean.

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Cases, policies, procedures, and action plans are part of ______________form of knowledge. Select one: a. Documented b. Unstructured c. Semi-structured d. Structured

Which of the following is not a purpose of EDMS?

Select one:

a. Combine text with digital audio and video

b. Indexing, searching and retrieval

c. Forms management allows organisation and structure of data

d. Divergence of the document processing

In Knowledge Management, there are various forms of storing the knowledge. What do we call that form in which knowledge is stored in the form is cases, policies, and procedures?

Select one:

a. Structured Knowledge

b. Unstructured Knowledge

c. None of above

d. Semi-Structured knowledge

Which of the following data landscape is used by the executives in DSS?

Select one:

a. OLAP

b. OLAB

c. ESS

d. OLTP

_______________ is the content of culture which includes jokes, metaphors, stories, myths and legends

Select one:

a. Language

b. Symbols

c. Artefacts

d. Behaviour

DSS helps in making decisions by combining ___________, analytics tools, and models to support structured and unstructured decision.

Select one:

a. Technology

b. Data

c. Information

d. Process

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The ABC Floral Shop sold the following number of geraniums during the last two weeks.

Day Demand Day Demand
1 200 8 154
2 134 9 182
3 147 10 197
4 165 11 132
5 183 12 163
6 125 13 157
7 146 14 169

The ABC Floral Shop is considering fitting various forecasting models on the first seven days of demand and using the second seven days as a hold-out sample for comparing the prediction accuracy of the models. They have decided to use a = 0.25, but aren’t sure what starting value of forecast, F1, to use.

(Round all answers to 1 decimal place.)

a. Try values of F1 = 160, 170,180 to determine the best exponential model for the first seven days using the minimum total absolute deviation as the criterion.

F1= 160

Day Demand (t) Forecast (t) Absolute Error (t)

1

200 160.0
2 134
3 147
4 165
5 183
6 125
7 146
Total

F1 = 170

Day Demand(t) Forecast (t) Absolute Error (t)
1 200 170.0
2 134
3 147
4 165
5 183
6 125
7 146
Total

F1 = 180

Day Demand (t) Forecast(t) Absolute Error (t)
1 200 180.0
2 134
3 147
4 165
5 183
6 125
7 146
Total

Which of the above forecasts is the best?

multiple choice 1

  • Using 160.0

  • Using 170.0

  • Using 180.0

b. Compare the best model from part a to a three-period moving average model on the second set of data.

Day Demand (t) Forecast (t) Absolute Error (t)
8 154
9 182
10 197
11 132
12 163
13 157
14 169
Total

3-period moving average

Day Demand (t) Forecast (t) Absolute Error (t)
8 154
9 182
10 197
11 132
12 163
13 157
14 169
Total

Which one has the smallest sum of absolute errors?

multiple choice 2

  • 3-period moving average

  • Exponential Smoothing

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Davis v. Watson Brothers Plumbing, Inc.

FACTS Arnett Lee presented a $152.38 check for cashing to the plaintiff, liquor store operator Troy Davis. After Davis gave Lee the cash, Lee requested a bottle of scotch and a six-pack of beer. As Davis turned to fill the order, a thief stole $110.00 of the $152.38. Lee immediately contacted the defendant-drawer of the check, Watson Brothers Plumbing, Inc., and notified them of the loss. The defendant (Watson) then issued another check for $152.38 and stopped payment on the first check held by Davis. Davis brought this action against Watson for the full amount of the check.

DECISION Judgment for Davis for $152.38.

OPINION Davis was the holder of the check, and Watson failed to raise any valid defense to enforcement of the check against it. Any party “who is in possession of … an instrument … indorsed to him … in blank” is a “holder.” Since Lee indorsed the check in blank to Davis, Davis is a holder. The holder of a draft is entitled to receive its full amount from the drawer upon dishonor of the check, unless the drawer has a valid defense to the holder’s enforcement of the check against it. Watson argues that it may raise the defense of insufficiency or failure of consideration in the transaction between Davis and Lee. But the transfer of the check by Lee to Davis has no effect upon Watson’s obligation to pay the check according to its tenor. “Consideration” is concerned with Lee’s transaction with Watson, not with whether Davis gave anything in consideration for the check to Lee. Since Watson has no defense to enforcement of the check against Lee, it has no defense against Davis, regardless of whether Davis gave full consideration for the check.

INTERPRETATION The drawer’s liability is contingent upon dishonor of the instrument.

CRITICAL THINKING QUESTION Should the drawer be permitted to raise defenses of other parties to the instrument? Explain.

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