Mt. Kinley is a strategy consulting firm that divides its consultants into three classes: associates, managers, and partners. The firm has been stable in size for the last 20 years, ignoring growth opportunities in the 90s, but also not suffering from a need to downsize in the recession at the beginning of the 21st century. Specifically, there have been—and are expected to be—200 associates, 60 managers, and 20 partners. The work environment at Mt. Kinley is rather competitive. After four years of working as an associate, a consultant goes “either up or out”; that is, becomes a manager or is dismissed from the company. Similarly, after six years, a manager either becomes a partner or is dismissed. The company recruits MBAs as associate consultants; no hires are made at the manager or partner level. A partner stays with the company for another 10 years (a total of 20 years with the company). A. How many new MBA graduates does Mt. Kinley have to hire every year? B. What are the odds that a new hire at Mt. Kinley will become partner (as opposed to being dismissed after 4 years or 10 years)? please clearly explain the soluti
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Mt. Kinley is a strategy consulting firm that divides its consultants into
three classes: associates, managers, and partners. The firm has been stable in size for the last 20
years, ignoring growth opportunities in the 90s, but also not suffering from a need to downsize in
the recession at the beginning of the 21st century. Specifically, there have been—and are
expected to be—200 associates, 60 managers, and 20 partners.
The work environment at Mt. Kinley is rather competitive. After four years of working as an
associate, a consultant goes “either up or out”; that is, becomes a manager or is dismissed from
the company. Similarly, after six years, a manager either becomes a partner or is dismissed. The
company recruits MBAs as associate consultants; no hires are made at the manager or partner
level. A partner stays with the company for another 10 years (a total of 20 years with the
company).
A. How many new MBA graduates does Mt. Kinley have to hire every year?
B. What are the odds that a new hire at Mt. Kinley will become partner (as opposed to being
dismissed after 4 years or 10 years)?
please clearly explain the solution
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
