C31_Midterm_Winter_2010

C31_Midterm_Winter_2010 - Management C31 (Sections L01...

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Management C31 (Sections L01 & L30) Midterm Examination, Winter 2010 February 12 th Professor Hugh Laurence & Jeff Rybak 2010, 7-9 p.m. You will have 1 hour and 50 minutes to write this midterm, beginning at 7:10 and ending at 9pm. It will be marked out of 100. There is one question. The exam has 3 pages. Rita Gupta never set out to establish herself in business. She earned her PhD in early childhood development and was working successfully as an academic. Then she had a daughter and less than one year later added twin sons to her family. She took an extended leave to care for her young children at home. While she was doing so she put her education to good use and designed a program for them to follow. She wanted to do everything possible to give her kids a head start in life. Rita has a lot of friends, and many of them are mothers such as herself, torn between professional careers and young families. Most of Rita’s friends found they couldn’t get away from their jobs so easily, but rather than enroll their children in daycare or hire someone to care for them at home, they far preferred the idea of sending them to Rita to benefit from her training. First one then another approached her with this request, and offered her very good rates for her services. So Rita got a license to operate a private daycare from her home, calling it Head Start Childcare. Soon she was making as much money from home as she used to in her career as an academic – and of course she could still care for her own children as well. There are limits and drawbacks to running a daycare from your own home. Rita hired two part-time workers to come in and help her but the business was taking over all her living space and she still didn’t have enough room for all the children. Her waiting list started to grow. Some of Rita’s earliest clients approached her with a proposal. They thought she was doing a great job and they wanted to invest in an expansion of her daycare. After some negotiation they arrived at a deal. Four of Rita’s clients wanted to go into business with her, and together they formed a
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C31_Midterm_Winter_2010 - Management C31 (Sections L01...

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