Fin4533- Exercises 3 Business & Finance homework help

Instructions 

1. Use your textbook to answer the following questions from Chapter 3

Exercise 6, 7, 8, 11, 13, and 18.

Please, upload xls, xlsx file.

Please, use the full computing power of Excel.

Questions

6.   Suppose that the current price of gold is $1,765 per oz and that gold may be stored

costlessly. Suppose also that the term structure is flat with a continuously compounded

rate of interest of 6% for all maturities.

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(a) Calculate the forward price of gold for delivery in three months.

(b) Nowsuppose it costs $1 per oz per month to store gold (payable monthly in advance).

What is the new forward price? Fin4533- Exercises 3 Business & Finance homework help

(c) Assume storage costs are as in part (b). If the forward price is given to be $1,805

per oz, explain whether there is an arbitrage opportunity and how to exploit it.

7.  A stock will pay a dividend of $1 in one month and $2 in four months. The risk-free rate

of interest for all maturities is 12%. The current price of the stock is $90.

(a) Calculate the arbitrage-free price of (i) a three-month forward contract on the stock

and (ii) a six-month forward contract on the stock.

(b) Suppose the six-month forward contract is quoted at 100. Identify the arbitrage

opportunities, if any, that exist, and explain how to exploit them.

8.  A bond will pay a coupon of $4 in two months’ time. The bond’s current price is $99.75.

The two-month interest rate is 5% and the three-month interest rate is 6%, both in

continuously compounded terms.

(a) What is the arbitrage-free three-month forward price for the bond?

(b) Suppose the forward price is given to be $97. Identify if there is an arbitrage opportunity

and, if so, how to exploit it.

11.  Three months ago, an investor entered into a six-month forward contract to sell a stock.

The delivery price agreed to was $55. Today, the stock is trading at $45. Suppose the

three-month interest rate is 4.80% in continuously compounded terms.

(a) Assuming the stock is not expected to pay any dividends over the next three months,

what is the current forward price of the stock?

(b) What is the value of the contract held by the investor?

(c) Suppose the stock is expected to pay a dividend of $2 in one month, and the onemonth

rate of interest is 4.70%. What are the current forward price and the value of

the contract held by the investor? Fin4533- Exercises 3 Business & Finance homework help

13.  A stock is trading at $24.50. The market consensus expectation is that it will pay a

dividend of $0.50 in two months’ time. No other payouts are expected on the stock over

the next three months. Assume interest rates are constant at 6% for all maturities. You

enter into a long position to buy 10,000 shares of stock in three months’ time.

(a) What is the arbitrage-free price of the three-month forward contract?

(b) After one month, the stock is trading at $23.50. What is the marked-to-market value

of your contract?

(c) Now suppose that at this point, the company unexpectedly announces that dividends

will be $1.00 per share due to larger-than-expected earnings. Buoyed by the good

news, the share price jumps up to $24.50. What is now the marked-to-market value

of your position?

18.

The spot price of copper is $3.87 per lb, and the forward price for delivery in three

months is $3.94 per lb. Suppose you can borrow and lend for three months at an interest

rate of 6% (in annualized and continuously compounded terms). Assume you have no

copper but can borrow it to short it if you wish.

(a) First, suppose there are no holding costs (i.e., no storage costs, no holding benefits).

Is there an arbitrage opportunity for you given these prices? If so, provide details of

the cash flows. If not, explain why not. Fin4533- Exercises 3 Business & Finance homework help

(b) Suppose now that the cost of storing copper for three months is $0.03 per lb, payable

in advance. (This is a three-month cost, not a per-month cost.) How would your

answer to (a) change? (Note that storage costs are asymmetric: you have to pay

storage costs if you are long copper, but you do not receive the storage costs if you

short copper.) Fin4533- Exercises 3 Business & Finance homework help

Business Finance – Management Week 10 Assignment – Final Instructional Design Project Due

Overview

Employers should have methods of assessing the effectiveness of any training program as well as the overall performance of their employees. Assessments provide beneficial information that can be used to make necessary revisions to training programs or curricula. They also provide information used to help make important decisions for employee growth. Business Finance – Management Week 10 Assignment – Final Instructional Design Project Due

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Instructions

In this assignment, you will create a presentation in which you propose strategies for assessing a training program’s effectiveness. This includes information about both the assessment methods and the data collection methods. As a reminder, assessment methods are used to determine how well learners retain knowledge and are able to master objectives based on content. Data collection methods are used to collect feedback on the effectiveness of training.

You are to create a 10–15 slide presentation in which you:

• STEP 1: Identify two assessment methods you can use to gauge learner mastery of content.
  • List the components, challenges, and benefits of each assessment method.
  • Align each assessment method to one of your objectives to show how the results demonstrate learner mastery.
• STEP 2: Compare data collection methods you can use to evaluate your training program.
  • Analyze the components, challenges, and benefits of each data collection method.
  • Identify at least five key questions when assessing the effectiveness of the training program.
  • Analyze two data collection methods (tools) you could use to evaluate your training program. Some examples of data collection methods include interviews, surveys, observations, and focus groups.
• STEP 3: Write a two-slide summary in which you choose one of the two assessment methods above, one data collection method, and explain how trainees will be evaluated. Business Finance – Management Week 10 Assignment – Final Instructional Design Project Due
  • Summarize your rationale for choosing your assessment method including the challenges and benefits.
  • Summarize your rationale for the data collection tool you selected including the ease of implementation of the tool.
  • Summarize how you will evaluate training for trainees.

Be sure to support your rationale with scholarly research by using three sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment. For help with research, writing, and citation, access the library or review library guides.

This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the Library site for all supports. Check with your professor for any additional instructions.

The specific course learning outcome associated with this assignment is:

• Propose strategies for assessing a training program’s effectiveness. Business Finance – Management Week 10 Assignment – Final Instructional Design Project Due

** TWO-PART ASSIGNMENT**

Part 1. Powerpoint -Create 2 slides with 150-250-word speaker notes for each slide. APA 6, in-text citation, Cite at least two (2) scholarly online references.

Part 2. 600 words APA 6, in-text citation, Cite reference.

Attached is the PowerPoint the TWO slides will be added to.  Operations Management homework help

Assignment Description

Part 1:

For the final Key Assignment in this course, you will need to discover how measurement and continuous improvement are part of success in customer service excellence. Complete the following for the first part of this assignment:

• Find 2 articles, one that describes how customer service excellence is measured and the other on how continuous improvement can be practiced.
  • These articles need to be verified to be valid and from a source that can be used in academic writing.
• Include a summary of each article into your current PPT presentation from Week 4.
• Remember that this needs to have the quality and content to be presented to an incoming HR Manager after your recent promotion to Vice President.
  

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Part 2: Review and reflect on the knowledge you have gained from this course. Based on your review and reflection, write at least 3 paragraphs on the following:

• What were the most compelling topics learned in this course?
• How did participating in discussions help your understanding of the subject matter? Is anything still unclear that could be clarified?
• What approaches could have yielded additional valuable information?
• The main post should include at least 1 reference to research sources, and all sources should be cited using APA format. Operations Management homework help

Innovation Business Design Model Summary

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Innovation Business Design Model (IBDM) Background Tenney Electronics has been specializing in audio electronics since the mid-1960’s. Originally founded as a store for radio enthusiasts to purchase electronic parts and equipment, the business has grown over the years and now produces a variety of electronics under the “Te” brand name. Check out the dates below to learn more about how Tenney Electronics has changed: 1962 Mr. Tenney’s Radio Electronics first opened its doors in 1962. During the 1960’s there was a growing number of radio hobbyists looking for a place to purchase inexpensive equipment and parts. Mr. Tenney knew that in order to do well in the business, he would have to keep the prices low and the products innovative. 1984 By 1984 the store had experienced a growing decline in the home-radio market. In order to stay in business, Mr. Tenney decided to widen the focus of the business. Instead of focusing exclusively on radio parts and equipment, Mr. Tenney broadened the direction of the store to include most all electronics. The new focus also included a name change to “Tenney’s Electronics,” and an increased emphasis on selling fewer radio parts and more “out-of-the-box” radios. 2001 In 2001, the store underwent another major change. Thinking back about the early years of the store and how each radio was made piece by piece, Mr. Tenney decided that he would simplify the name and try launching a “Tenney Electronics” brand of electronics. The new brand, called “Te,” would feature high-end consumer radios and other specialty electronics. SPSS Since its launch in 2001, the “Te” lind of electronics has been very successful. In several markets, “Te” is currently the dominant brand for custom electronics and consumer audio equipment. Tenney Electronics control both the manufacturing and “Te” products, as well as operate several stores throughout the United States. With the success of the “Te” brand, executive management is more and more concerned about new competitors and possible government regulations. Because of this, Tenney Electronics is looking for innovative ways of growing the business. This includes exploring creative opportunities to innovate the organization’s Strategies, Processes, Products, and Services (SPPS). As a result of your new found expertise with the principles of innovation, design, and creativity, Tenney Electronics has decided to hire you as an innovation consultant. You decide that Tenney Electronics could benefit from applying the Innovation Business Design Model (IBDM). You meet with Mr. Tenney and outline the five steps of the IBDM process: 1. 2. 3. 4. 5. Assess the situation Identify problems and opportunities Creative concept development Prototype development Implementation, validation, and refinement Step One: Assess the Situation The first step in the IBDM process is to examine the internal and external environment looking for opportunities to innovate in order to create a competitive advantage. Since time is limited, you must decide where to focus your attention. An internal review would focus on the core capabilities of the business. An external review would look at your customers and the needs or wants of the market. Review both Internal and External Review: Internal Review When conducting an internal review, there are several questions that need to be considered. Sample survey questions include: • • • • • • What are the capabilities of the business? How far out of our current lines of business can things go without losing our focus on core competencies and competitive advantage? What opportunities for innovation in strategic planning development exist for the organization’s internal considerations? What processes could the business alter to create new efficiencies that attract and keep customers? How will the culture adapt to radical changes and new business ideas? What products/services could the business offer? You spend time interviewing various employees at Tenney Electronics, asking these questions, and observing everything from the manufacturing processes to retail operations. Based on the feedback from your survey questions, you have determined the following: Many of the employees and managers working in “Te” product manufacturing feel that the strength of the business is in producing low cost, high quality products based on established technology. However, at the retail stores, many employees complain that the products aren’t innovative enough. Over and over again, sales managers complain that more expensive, newer technology electronics were selling faster at competitor stores. External Review When conducting an external review, there are several questions that need to be considered. Sample survey questions include: • • • • • • • Are “Te” customers early adopters of new technology? What do potential customers want from “Te” products? What opportunities for innovation in strategic planning development exist for the organization’s external considerations? What processes could the business alter to create new efficiencies that attract and keep customers? How might these products be challenged or disrupted by fulfilling the unmet needs and desires of customers? Can market research be performed to uncover hidden desires or unknown needs? What services could the business offer? You spend time interviewing different groups of customers, asking these questions, and observing everything from the customers in the stores to customers shopping at other electronic retailers. Based on the feedback from your survey questions, you have determined the following: Most customers view Tenney Electronics as only moderately expensive and not very innovative. Those that knew about the “Te” brand considered it to be slightly more innovative and more expensive than comparable brands. Further research also showed that customers are willing to pay more for products that utilize newer technologies rather than “last year’s model.” Lastly, many people didn’t know that Tenney Electronics sold anything else than radios. Step Two: Identify Problems and Opportunities The next step of the IBDM process is to identify specific and/or unmet problems and opportunities. In this stage, you will examine lifecycles of competitive ideas and potential new concepts for the organization. This may include innovative strategy/process development, or a detailed exploration for products/services. You can choose to focus on possible problems or potential opportunities for the company. Identify Problem By using the IBDM process, you have learned a lot about the external problems facing Tenney Electronics. The biggest problem that you uncovered in your research is that in the marketplace, Tenney Electronics and the “Te” brand scored higher on average than the Tenney Electronics stores, both the brand and the business scored much lower than the desired market position for innovative technology retailers. Identify Opportunities Clearly Tenney Electronics has years of experience making and selling radios. Both manufacturing and retail staff feel a high level of pride in both the traditions of Tenney Electronics as well as the quality of the products. Perhaps there is an opportunity to capitalize on the quality of the “Te” brand? Moving Forward By using the IBDM process, you have learned a lot about the internal opportunities and internal problems that surfaced for Tenney Electronics. Now it is up to you to apply what you have learned. Mr. Tenney is counting on you to find a new innovative way of growing the business. This means that you will need to explore different possibilities for new Strategies, Products, Processes, and Services (SPPS). Step Three: Develop a Creative Concept (SPPS) Step three in the IBDM process is to use creative thinking techniques and inspiration to develop innovative and practical concepts to address the identified problems and opportunities. It is up to you to distill what you’ve learned about Tenney Electronics. Your creative concept needs to be innovative and practical for the business. You also may want to consider the potential market for the innovation. There are two possible strategic options: Business Markets Based on your research on the internal opportunities of the company, you have decided that Tenney Electronic could innovate by creating a new strategic focus on Business Markets. You believe that entering this new market will work well for the business because it relates to strategy. By adding a strategic focus on the business customer, Tenney Electronics will be creating an entirely new and potentially disruptive business model. The company will experience an entirely new shift in emphasis in order to cater to this previously untapped market. New Tech Based on your research on the internal problems of the company, you’ve decided that Tenney Electronics needs to pursue a strategy of developing new technologies. You believe that creating innovative new technologies will work well for the business because it relates to strategy. Although Tenney Electronics may have been innovative in the past, the company has slipped in the market. Only by aggressive pursuit of a new technology can the business hope to stay competitive. By providing a greater shift towards new technology, the business will have to undergo a shift in the internal philosophy of both the manufacturing and retail operations. The internal perception that relying on established technologies will have to change in order to create new products that are innovative. In order to stay competitive in a new technology market, the company will need adaptable and flexible systems that can be easily updated to adjust to new developments. There are two potential process options: Streamline Resources Based on your research on the internal opportunities at the company, you have decided it might be best to streamline the steps in the manufacturing and distribution processes. This may mean adjusting existing resources, or developing completely new innovative processes. By making the processes more efficient, Tenney Electronics will be able to improve operating performance and reduce costs. The benefit to both internal and external manufacturing is that they can focus on the processes that are most efficient and eliminate wasted steps along the way. Mechanize Production Based on your research on the internal opportunities at the company, you have decided that mechanizing some of the manufacturing processes may be the best solution. Right now everything made at the assembly facility is done by hand and is very time consuming. By mechanizing the process, what currently takes two days and numerous steps could be performed as one step, in an hour, by a single machine. The entire manufacturing process will be affected as a result of this shift in production. There are two potential product options: Develop HD Radio Based on your research on the internal opportunities at the company, you’ve decided that a new HD radio targeted to high-end users is the best solution. Your name for the product will be “Te-HD.” You believe that this new product will work well for the business. The Te-HD combines both the features found on current radios with the added benefit of being able to use HD-radio technology for superior sound quality. Develop MP3 Player Based on your research on the internal opportunities at the company, you’ve decided that an MP3 player targeted to high-end users is the best solution. Your name for the product will be “Te-MP3.” You believe this new product will be a success. The Te-MP3 combines both the image of Tenney Electronics as a music electronics company while branching out into a new hi-tech business. There are two potential service options: Develop Service Center Based on your research on the internal opportunities at the company, you’ve decided that creating a new Customer Service Center is the best solution. Your name for this new service will be “Te-Service.” You believe that this new service will work well for the business. Tenney Electronics will now focus on strengthening the service relationship with the customer by offering setup and instruction on how to get the most from the purchase. The Te-Service Center allows the retail managers to work more closely with the customer in order to educate the buyer about the “Te” brand, quality, and features. This allows Tenney Electronics to capitalize on the expertise and pride that the employees have for the products. Develop Business Services Based on your research on the internal opportunities at the company, you’ve decided that creating a new Business Solutions Center is the best solution. Your name for this new service will be “Te-Tech.” You believe that this new service will work well for the business. Tenney Electronics will now focus on strengthening the service relationship with local businesses by offering professional tools, setup, and business training. The Te-Tech Service will allow local stores to work more closely with the local businesses in order to educate the buyer about the “Te” brand, quality, and features. This allows Tenney Electronics to capitalize on the expertise and pride that the employees have for the products while expanding into an untapped demographic. Step Four: Develop Prototypes Step four in the IBDM process is to develop prototypes. In this stage, the goal is to design and develop innovative, practical concepts to serve as models for testing and evaluation. Tenney Electronics has developed several ideas for Te-Tech based on your recommendations. These service prototypes have gone through numerous iterations. These iterations have incorporated the needed changes and refinements uncovered during testing. Step Five: Implement, Validate, and Refine The final step in the IBDM process is to evaluate the outcomes of the creative concept development in order to determine appropriate enhancements, improvements, or exit strategies. The innovative process is not complete until thorough market-testing has been completed and evaluated. Industry and regulatory standards must be exceeded. All safety considerations must be evaluated. Once the new concept begins, the company must plan for updates and changes as required. Lessons Learned By applying the principles of the IBDM process, you were able to logically and methodically develop a new innovative solution for the business. The Innovation Business Design Model is an excellent tool for problem solving and developing innovative approaches to business. Remember, when completing an IBDM analysis, it is always best to consider both internal and external factors as well as both problems and opportunities that affect the business. This way you have the most complete picture when developing an innovative product or service.
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