Essays on Bidders

There are numerous benefits of Internet auctions to sellers, buyers and market makers in an auction.

Internet technology has changed the manner in which business can be conducted, online auctions allow users to participate in online markets without the limits of time or geographical location. This nature of doing business online is flexible; just with a computer device and internet connection, users can buy products online cost- effectively, this platform has a lot of advantages and a few disadvantages.

Advantages include:

A physical location is not necessary The products being sold in an online auction do not require a physical location, it is possible to manage the inventory online. Once a sale has been done, then the ...

Scenario a

The auditor should not be concerned about the bidding process in this case. The fact that Wright had won 12 of the 21 bids does not imply that the controls on the bidding processes are not effective. Provided the 12 contracts were awarded competitively and that due process was followed, it should not concern the auditor.

Scenario b

This situation should concern the auditor about the company’s controls for the bidding process. Wright won 12 of the 21 bids and in each case, Wright was the last to submit its bid. It raises questions about possible canvassing between the procurement ...

Part One: Need Identification and Specification

Question 1: First question will be asked to the client about the type of hardware and software it requires for the set-up of operations. Rationale: The rationale behind the question is to ascertain the basic need of the client to purchase a standard or special equipment.

Question 2: Second question that will be asked to the client is about the quality of the hardware and software.

Rationale: The rationale behind asking the question is to determine the level of quality required by the client in comparison to cost.

Question 3: Third question is about the quantity of the hardware and software required to train the customer representatives.

Question 4: Forth question will be asked about the person that will be involved in the training of the customer representatives. Rationale: The rationale behind the question is to determine the ...

BOP Assignment

A firm’s internal and external environment affects its performance in the market. It is worth noting that there are several tools of analysis used to determine the manner in which a given organization performs in its environment. Business operations take place within an environment. The environment factors are classified into internal and external factors depending on the type and ability of the firm to control. In this case, BHS is an example of an enterprise that was bought by an investor and merged into his wider business. After a while, it was on the verge of collapse, and ...

Facts about the Case

The scenario involves sales personnel Jim Snelling who works at Spectro Electronics. He joined the company in 1992 working as a vice president for Global Strategy and Operations. Spectro Electronics is a supply chain manager and distributor of electronic components to the manufacturers. The company has an annual turnover of $6 billion and a projected turnover of $10 billion in the next three years. It has a global presence operating in more than 40 countries. The supply chain is organized into various regional operational hubs. The sales personnel source for bids from manufacturers and in turn source for suppliers ...

Discussion

Peach Computer Company intends to build a $6 million 120,000-foot building near Dayton, Ohio. In the past, the company has purchased similar buildings. The method used for the purchase of the previous buildings has been using plans and specifications. These are provided by an A&E firm and are used as the basis for bidding from contractors who actually build the building. The plans and specifications provided by the A&E firm are also used as the standard on which quality measures are made. The cost of this approach is approximately 8% of the estimated cost of construction. Donald bright ...

Part A: Multiple Choice Questions:

The seller must have market power, that is the seller must have some control over price The seller must be able to identify different customer groups with different demand elasticities The seller must be able to prevent arbitrage between the two groups All of the above You’ve just decided to add a new line to your manufacturing plant. Compute the expected loss/profit from the line addition if you estimate the following:

There is a 70% chance that profits will increase by $100,000.

There is a 20% chance that profits will remain the same. There is a 10% chance that profits will decrease by $15,000. Loss of $15,000 ...