Economics and Entrepreneurship

Discussion 1. Managerial Economics Write 400 words in length. Describe a decision that a company has made when facing uncertainty (You can select any company like the company you are working for, or a company like Amazon, Walmart, etc.,). Discuss what the costs and benefits of that decision might be and offer advice on how to proceed with the decision based on estimated costs and benefits. Let’s get started with the discussion for this week. Share your takeaways. Please review the following link regarding “decision making during uncertain times” https://www.mckinsey.com/capabilities/people-and-organizational-performance/ourinsights/decision-making-in-uncertain-times Discussion 1. Follow Discussion Grading Rubric Instructions Content: 10 pts The post adequately discusses the proposed topic and sufficiently answers questions. Organization: 5 pts The entire post is controlled by a clear purpose. The reader moves easily from one point to the next Spelling, mechanics, formatting: 5 pts Minimal grammatical and/or mechanical errors. APA formatting is used correctly. Assignment requirement: 10 pts All assignment requirements are met. These requirements may include word count, references, formatting, and responses to fellow classmates’ posts. Total Points: 30 No Plagiarism Professionalism No Spelling and Grammar Mistakes APA 7 Style Cite Refences If you use outside references, please cite them, and use references, APA style 7th. Assignment 2. Managerial Economics Please review and answer the following question in a 3-pages word document: In 1997, after spending more than one-half billion dollars in development and after extensive test marketing, Procter & Gamble in partnership with Frito-Lay and Nabisco launched a series of snack food products made with Olestra, a “no fat” substitute. The campaign launch promised that consumers would enjoy the same flavor of potato chips or crackers, but with zero fat. Although touted as a miracle product, Olestra faced a number of uncertainties: ultimate consumer demand, willingness to pay, and pricing; product cost, quality, and shelf life; regulatory approval; and most important, medical side effects (stomach cramps and the ugly specter of diarrhea in some consumers). Use this example and other management cases discussed most every week in the business press to make a list of the many categories of risks faced by managers. In particular lines of business, what categories of risks are the most crucial for the firm’s profit? Provide examples of firm strategies to eliminate, mitigate, or insure against these risks. Make sure to cite at least 2 references in addition to the textbook at the end of the word document. Assignment 2. Follow Discussion Grading Rubric Instructions Excellent 75 points Detailed response is provided for the question supported with examples. Excellent 10 points Minimal grammatical and/or mechanical errors. APA formatting is used correctly. Excellent 15 points More than three resources references are used Total Points: 100 No Plagiarism Professionalism No Spelling and Grammar Mistakes APA 7 Style Cite Refences If you use outside references, please cite them, and use references, APA style 7th. Discussion 3. Entrepreneurship and New Venture Management 1. Discuss the different types of plans used by entrepreneurs. 2. Define the revenue model and distinguish it from the cost model. This assessment aligns to the following course objectives: Develop an awareness of entrepreneurship/new venture start-up issues Apply key business concepts to various problems/situations Question 1-Discuss the different types of plans used by entrepreneurs. 400 words in length. Question 2-Define the revenue model and distinguish it from the business model. 400 words in length. Discussion 3. Follow Discussion Grading Rubric Instructions Student responds to discussion board with thoughtful, insightful response using appropriate business terminology. Student provides detailed response and adds to discussion with new ideas or information. Total Points: 25 No Plagiarism Professionalism No Spelling and Grammar Mistakes APA 7 Style Cite Refences If you use outside references, please cite them, and use references, APA style 7th.