Running head: SIMULATION Week 2: Supply and Demand Simulation Brian Richards ECO/365 December 3‚ 2012 Ashraf Zaki In the simulation of the city of Atlantis‚ it demonstrated how supply and demand can shift due to adjustments with prices. The simulation focused on two-bedroom rental properties. We received the expertise of Hal Morgan and Susan Hearst from Good Life Property Management to determine rental prices and how to balance out the supply and demand. Through
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Simulation Reflection (10/04/17-10/05/17) Simulations have always been a stressful event for me. I never feel prepared enough and being observed behind double sided glass is unnerving. With that being said‚ the first day felt very choppy to me. I was assigned the charge nurse position and spent the better part of the time looking up patient information and planning ahead for what might be needed in future orders. I was a good mental exercise for preparing patient care plans and I did enjoy it. When
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April 2010 ‘The problems of Monte Carlo Simulation’ by David Nawrocki This article describes the problems associated with using the Monte Carlo Simulation Model as a tool for determining future investment outcomes for investors. The tool is widely used by Financial Advisors as a means of showing investors future returns on investments. The article discusses why the use of Monte Carlo Simulation in financial planning is difficult and can lead to incorrect decisions which can have a detrimental
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A learning curve‚ in common terms‚ “is used to describe the effort required to acquire a new skill (e.g.‚ expertise with a new tool) over a specific period of time” Wikipedia.org. In scholarly terms‚ “Learning curves are also an integral part in planning corporate strategy‚ such as decisions concerning pricing‚ capital investment‚ and operating costs based on experience curves” Chase-Jacobs-Aquilano. In the pizzeria scenario presented requires a full understanding of the cause and effect of decisions
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In order to be an effective manager‚ one needs to build a foundation in order to be successful. An effective manager pays attention to many facets of management‚ leadership‚ and learning within the organization. It is important for a manger to be a person that others want to follow. In this essay‚ I will outline what I feel are important aspects in a successful foundation for a management career. Firstly‚ in order to be successful as a manger I will need to build effective interpersonal relationships
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Supply and Demand Simulation The University of Phoenix online simulation entitled "Applying Supply and Demand Concepts" starts with the description of a fictional small town‚ Atlantis‚ and the rental market for two bedroom rental apartments. Below we will discuss the key points of supply and demand covered in the simulation‚ and by David Colander in the Book Economics‚ along with real world examples and results for the simulation. In this simulation the reader is a property manager for GoodLife Management
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PRINCIPLES OF MANAGEMENT BC02 - 1 LEVEL 1 September 2012 – January 2013 Topic 3 The Manager’s Job Learning Objectives After studying this topic‚ the students should be able to: * Describe the major jobs and responsibilities of four levels of managers. * Explain the resources used by managers. * Define the roles that managers perform in the organization. * Identify the basic management skills and understand how they can be developed. -------------------------------------------------
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Learner’s Guidance for Balancing the Corporate Scorecard 2.0 ACC 8110 – Professor Licata Balancing the Corporate Scorecard 2.0 is a discovery-based learning experience in a realistic context. It is an interactive simulation where the user must react to conditions and make decisions throughout the simulation. Overview of the interactive simulation environment: In “Welcome Aboard” Steve Tucker‚ chairman of GigaSoft (Sentra Software’s parent company)‚ introduces himself and discusses the learner’s
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The poverty simulation demonstrated how to make decisions when having limited resources like time and money. In a daily activity‚ there is always a tradeoff between making money‚ doing chores‚ looking after the family and socializing. With limited time and meagre wages‚ it is difficult to ensure that one day will encompass of all the activities that wants to or needs to be done. For instance‚ working requires a minimum of 2 hours but with such little pay‚ it is only natural to do around 6 hours.
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Interview with a Manager March 1st. 2014 Michelle I met for coffee with Gretchen Knipfel‚ Regional Manager of Marketing and Sales at Our House Senior Living. Our House provides assisted care‚ memory care and senior apartments in a residential setting where residents are able to maintain relationships and stay active in their community. Our House has been a primary living resource in Wisconsin and Minnesota for over 15 years. Gretchen’s territory provides care for 165 residents. She has been
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