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Part A: Introduction In this assignment, you will use the case…
Part A: Introduction
In this assignment, you will use the case study of IEC in Sports, a company that must make decisions under situations of high uncertainty. You will apply the prediction models you have studied this week to determine the most favorable approach for IEC in Sports.
Link to the case:
https://services.hbsp.harvard.edu/api/courses/1040328/items/W11652-PDF-ENG/sclinks/4dbea587badc0178474b60bffd7ac58b
In the subsequent parts of the assignment, you will attempt questions based on the case study:
Part B: Predicting Using the EV Approach – In this assessment, use the Expected Value (EV) approach to estimate the costs and revenues for IEC in Sports.
Part C: Identifying Uncertainties – In this ungraded discussion forum, you and your classmates consider the different types of uncertainty that face IEC in Sports. Discuss the challenges that IEC in Sports faces in making decisions under this kind of uncertainty.
In this ungraded discussion forum, you and your classmates are to consider the different kinds of uncertainty faced by IEC in Sports as they try to decide whether to purchase the broadcasting rights for Liga Zon Sagres.
What might be the relative advantages and disadvantages of using EV or simulation in this situation?
Part D: Predicting Using a Simulation – In this assignment, you can try out the simulation for IEC’s decision in Excel.
IEC in Sports faces three main areas of uncertainty:
Acquisition cost for the rights to broadcast Liga Zon Sagres: The broadcasting fee could be 5-15% higher than the 9M paid in the previous season.
Likelihood of client renewals: The actual probabilities for renewals or backup options could be 0.2 lower than the managers’ consensus estimates.
Accuracy of fee estimates: The actual fees could be up to 10% less than the managers’ consensus estimates.
Because there are so many areas of uncertainty, an Expected Value (EV) for the best/worst case net revenues may not be very accurate (it is basically a ‘point value’). A simulation allows us to obtain a probability distribution for the net revenues. In this ungraded assignment, you can try out the simulation for IEC’s decision in Excel.
Task
Use the IEC in Sports_3 IEC in Sports_3 spreadsheet and run a simulation to estimate some of the costs and revenues for IEC in Sports.
” https://docs.google.com/spreadsheets/d/15y_sAnb67E7RqNiGWrUuCcpq1EduHJWv/edit?usp=share_link&ouid=105431534486222341887&rtpof=true&sd=true ”
After you have developed a simulation for IEC in Sports to decide whether to purchase rights for the Liga Zon Sagres, briefly describe your biggest insight in comparing the EV approach to the simulation approach.
Suggested Word Limit: Up to 200 words
Part E: Applying Prediction Methods to Your Workplace – In this graded assignment, you individually apply your learning from this case study to your workplace.
Please download and view the new version of IEC in Sports_4 Download IEC in Sports_4spreadsheet showing a possible simulation setup.
” https://docs.google.com/spreadsheets/d/1_RMuFCj54c9bjSzkwm4kNV7VCRUK95PY/edit?usp=share_link&ouid=105431534486222341887&rtpof=true&sd=true”
Apply your learning from this case study to your workplace.
Reflect upon what you have learned from exploring the simulation of IEC in Sports’ decision regarding Liga Zon Sagres. Can you identify similar situations in your own work setting where simulation might be appropriate?
Suggested Word Limit: Up to 300 words.
Folder with both files: https://drive.google.com/drive/folders/18cR2vTg_ptBnlQ_iykJk-JtwtfmEFHSN?usp=share_link
NOTE: -Please read questions and answer correctly with not repeating your answers
– Please show which part you are answering, Part A:
Part B:
