Explain what Bounded Rationality is.
Then discuss how this concept can affect the data analysis below: You are the lead consultant for the Diligent Consulting Group. It is mid-October. One of your top clients, Sunshine Floor Barn, has just closed the books for the first three quarters of the year (January through September). Sunshine Floor Barn requests that you analyze the sales performance of its 5 product lines over this 3-quarter period. From past consulting work you have done for the company, you know that Sunshine Floor Barn has 4 regions and 18 total store locations. Each Regional Manager at the company has compiled the data for his/her region. The raw data provided consists of the sales revenue for each of the 5 premium flooring lines for all 4 regions and 18 locations for the first three quarters of the current year.
Also discuss how this concept can affect the decision situation in below: Scenario: You are the Vice President of Franchise Services for the Lucky restaurant chain. You have been assigned the task of evaluating the best location for a new Lucky restaurant. The CFO has provided you with a template that includes 6 criteria (attributes) that you are required to use in your evaluation of 5 recommended locations. Following are the 6 criteria that you will use to evaluate this decision: Traffic counts (avg. thousands/day)—the more traffic, the more customers, and the greater the potential sales. Building lease and taxes (thousands $ per year)—the lower the building lease and taxes, the better. Size of building (square feet in thousands)—a larger building is more preferable. Parking spaces (max number of customers parking)—more customer parking is preferable. Insurance costs (thousands $ per year)—lower insurance costs are preferable.
Explain your logic for both of your arguments broken up between 2 paragraphs. Are there any similarities between these two situations?
The Housing Act 2004 presented permitting for lodging in various occupation, as in this illustration. The Act sets out the gauges of administration which must be met with the goal for permitting to be accomplished, and the Housing Health and Safety Rating System (HHSRS) is another instrument which is utilized to evaluate the potential dangers exhibit in any property. Permitting is required for the sort of occupation being referred to since it is possessed by in excess of five individuals framing in excess of two families. In the present condition of the property it is conceivable that the committee could reject the property a permit, which would obviously be impeding to the administrations which it right now supplies in the region (Department for Communities and Local Government, 2007). It is consequently essential that between organization working is used to recognize all potential hazard regions and address them in a way which limits the mischief to the present occupants. Between office working The accompanying offices ought to be engaged with the working gathering to manage the issues in this property: Neighborhood gathering ecological wellbeing office This association would have the capacity to counsel with the inn administration keeping in mind the end goal to recognize and rectify any potential medical issues in the property to guarantee that they meet current gauges Neighborhood fire benefit office The neighborhood fire administration ought to have the capacity to prompt the administration how they have to build up the property with a specific end goal to meet current fire directions Social Services The social administrations division of the neighborhood chamber ought to have the capacity to work with the lodging administration to tackle any issues which would antagonistically influence the inhabitants. They should frame some portion of the working gathering to guarantee that the privileges of the present occupants are safeguarded as to any progressions concurred. The Housing Department These are a critical individual from the working gathering, since they make referrals to the administration, and would likewise have the capacity to exhort on the different issues identifying with building directions and Housing Act which should be tended to. Gathering, neighborhood or region Since the inn is definitely not an exclusive home, however is financed somewhat through the board, they would be an essential individual from a working gathering since they would have the capacity to encourage as to reserves accessible to meet the required changes. Variables to be tended to In spite of the fact that there were countless tended to with the property the five which are viewed as most critical are tended to underneath. Absence of sufficient fire wellbeing This is at present the most squeezing issue, since there are huge quantities of lives in danger in case of flame, and current wellbeing measures are thought to be totally deficient. There is right now an absence of escape clear on account of flame, which implies that the external entryways are as of now the main ways to get out in case of flame. The first floor entryway alongside the kitchen is as of now hindered, which is in contradiction of The Management of Houses in Multiple Occupation (England) Regulations 2006, which expresses that all ways to get out from flame must be stayed away from obstacle. The back leave entryway was observed to be bolted for security reasons; while the security of the property is vital this is additionally in negation of the given directions. Decay of ventilation in kitchen While the report expresses the kitchen was observed to be by and large attractive, there are wellbeing issues which are of significance. These are especially critical since they again influence the wellbeing of countless, and perhaps positions similarly vital to the issues with flame security. It has been distinguished that the kitchen in the property utilizes a gas cooker. There is no announcement made concerning whether this agrees to current gas testing controls. The dilapidation of the windows in the kitchen, and the nailing close of a few windows imply that there is no normal ventilation accessible. This implies in case of a release the gas would be not able disseminate and would cause incredible danger of gas harming and potentially blast. There are additionally issues identifying with the disintegrating of the smokestack bosom, since the administrator is likewise required to guarantee that any pipes (the fireplace) are kept in decent shape; this is especially imperative if any gas fire is introduced. Nearness of moistness The HHSRS would think about the different sorts of soggy in the property to cause inadmissible living conditions. The nearness of clammy adds to a few issue and sicknesses, especially in youngsters, and affects mental prosperity caused by the impact of living in sodden conditions. This has been positioned of somewhat less significance than the fire and gas issues as there is no impending danger to the life of the general population living in the property. Space issues There are at present real issues with space in the property; the Housing Act 2004 states that no tenable room ought to be possessed by in excess of two individuals, paying little heed to measure, marking down those under 1 year old. It likewise expresses that two people matured ten or over of inverse genders ought not be having a similar room under any conditions, except if they are co-habitees. There is high danger of mental damage in the present circumstance and some potential for physical mischief; anyway the probability and degree of this mischief positions beneath alternate issues above. Arrangement of luxuries Since there are 24 individuals at present living at the property, there ought to be no less than five restrooms and five WCs. The past issue featured that there were at that point an excessive number of individuals living in the building, anyway regardless of whether the numbers are diminished the Housing Act 2004 still requires that there be no less than one washroom and one WC for each five individuals living in the property. While this is a critical issue it positions lower than alternate issues as there is a lower hazard to the prosperity of the tenants caused by the issue. Activity Plan Absence of satisfactory fire security All furniture and fittings ought to be evaluated as to meet the prerequisites of the Furniture and Furnishings (Fire) (Safety) Regulations 1988. Any that don't meet the prerequisites should be evaluated with respect to whether they are important, and supplanted if so; else they simply should be expelled from the property. The neighborhood fire office ought to have the capacity to encourage with regards to the necessities which the furniture and fittings must meet. Despite the fact that this does not straightforwardly connect to the issue of the emergency exit, it is as yet an essential factor in decreasing the hazard from flame. The fire office ought to likewise be counseled with regards to the best methods for introducing an emergency exit course in the property. This conference ought to happen in discussion with the chambers and other subsidizing bodies keeping in mind the end goal to achieve a reasonable trade off for the property. This is a standout amongst the most critical move focuses and should make priority in procedures. Deterioration of ventilation in the kitchen The Gas Safety (Installation and Use) Regulations 1998 express that all gas gear must be kept up in great request and investigated every year by a CORGI enlisted build. The present status of the hardware should be checked and a calendar drawn up for arranged examinations of the present gear. Concerning the windows there are two principle alternatives accessible to the lodging. The first is to just repair the windows which are set up. This would include broad refitting of the wood to guarantee that they are completely working. On the off chance that security is viewed as an alternative, metal fittings could be introduced outwardly of the windows. This would almost certainly be the less expensive choice at first, anyway the choice of twofold coating establishment ought to likewise be considered. This would guarantee that the windows would last longer than wooden surrounded windows, particularly if there are issues with soggy. It would likewise help with security issues, and would make the property more vitality productive; there may likewise be stipends accessible in the zone which could help in the expenses. This would almost certainly be the best alternative to pick while considering the long haul expenses and advantages. Once the issues of moist are settled in the property, an examination ought to be sorted out by a building proficient to instruct on the best course concerning activity as to the smokestack bosom. Nearness of clammy The neighborhood Environmental Health office ought to be welcome to examine the property to discover the degree of the issue and the best strategy. There is probably going to be minimal decision as to a game-plan since the clammy seems to have achieved a time when real activity is expected to remedy the issue. In the event that there are alternatives exhibited which rotate around controlling the issue without broad building work, these might be satisfactory since there are other causative variables which are as of now being tended to. One such causative factor is the present issue with ventilation, which has been tended to above. When this ventilation is set up it will probably anticipate advance arrangement of sodden. There might be choices exhibited which would require extensive scale building work. This may not be in light of a legitimate concern for the lodging both as far as cash and disturbance to the general population living in the house, who have no place else to go while the building work happens. Space Issues There are various answers for this issue. The first is to just take less families, despite the fact that in the present condition of the convenience this may imply that if the families taken had a few kids, it might just have the capacity to oblige one family at any given moment. There might be a possibility for the lodging to make an augmentation, making additional rooms and comforts. This might be amazingly expensive, anyway it is an alternative if there are regarded to be reserves accessible from the present funders. The best accessible alternative in the here and now is take a gander at changing over the accessible spaces into rooms and restrooms. There are spaces accessible, for example, the workplace and the basement, and this might be l>GET ANSWER