Principles of Management

Assignment to teach and assess quantitative skills and reasoning.

Managerial Decision-Making: Acquisition Costs

Students will work in teams to explore various options for promoting products. Each team will pick a potential option (billboard, web, tv, print, trade show, etc.) and develop costs, return, return on investment, and acquisition costs. Following the problem solving rubric, the assignment will be approached with staged feedback, using the following units:

Problem Statement Understood:

Identify and define the problem to be solved.

Identify information needed, and information missing.

List assumptions.

Researching a model:

          Identify algorithm needed.

          Explore options.

          Create model.

Using the model:

          Research, explore alternate assumptions.

Test changing algorithms.

          Direct computation.

Evaluating the answer:

          Evaluate solution.

Consider alternate solutions.

Follow feedback loop.

Present Work/Solution

          Label variables

          Show models.

          Interpret solution.

          Present in organized, and logical flow.

Explain methodology.

Justify assumptions.

Consider audience.

Visual Representation

          Prepare graphs.

          Interpret graphs.

          Show meaningful comparisons.

          Graphs support arguments.