FORE School of Management End Term Examination EMG - XVI Corporate Finance IT : Max Time: 2 Hrs Max Marks: 40 is. All questions carry equal marks. Note: Attempt any four ques Ques |. Answer the following questions with brief explanations. (10) (a) Some studies report stock price decreases on the announcement of equity repurchases. How would you explain this? (b) Fins that introduce tacking stock on their highest growth divisions will see their Values this statement true? If not, why nor? (©) Companies often start paying dividends because of their desire to attract new investors, who will hold only dividend-paying stock, Do you agree with this rationale for paying dividends for a firm that cannot afford these dividends? Why or why not? («) Some firms that cut dividends announce stock splits or declare stock dividends simultaneously. Why might this make this a difference in the stock price reaction to the dividend cut? Ques2. Prepare the cash budget of Fashion Fabrics Limited for the months April 2010 to fuly 2010 tions the details given below: ob (Rs, Lakhs} a 12 12 16 20 August (ii) “On an average 20% of sales are cash sales. The credit sales are realize“ in the third month Ganuary sales in March) Gil) Purchase amount to 60% of sales, Purchase made in a month is generally sold in the third month and payment of purchases is also made in the third month (iv) Variable expenses constitute 10% of sales and there is a time lag of half month in these payments, (©) Fixed expenses per month amount to Rs.75, 000 approximately. (vi) Other items anticipated: Interest payable on deposits Rs. 1, 60,000 (April 2010); Sale of old asseis Rs.1, 25,000 (May 2010); Payment of Tax Rs.80, 000 (June 2010); Purchase of fixed assets (Rs.6, 50,000)-Jo™t (vii) Opening balance of cash Rs.1, 50,000. Ques3. Aries Industrial Enterprises proposes to manufacture @ cosmetic product which has been developed by its research and development department, The cost of production is estimated as follows Rs. per unit Raw Materials 30 Direct Labour 40 ‘Overheads 40 Total 160The new product will be sold at Rs.200 per unit. For the first year, sales are estimated at 1, 04,000 units, ‘The company is a going concer with its marketing network and it thinks that the maximum credit to be allowed to the customers will be eight weeks. Other relevant data are given below: Processing time 2 weeks Finished goods stock G weeks. ‘Credit allowed by suppliers [4 weeks 4520 go ‘Minimum cash balance required______| 50000 erst “Lag in the payment of way weeks Lag in the payment of overheads 4 week: Prepare a statement showing the amount of working capital required by the company. Ques4. Johnsons Inc. has 2.4 million shares of common stock outstanding, and the present market price is $36. Its equity capitalization is as follows: | Equity share capital,$2.0 at par ditional paid up capital Retained earings | Shareholder's equity 2) What would happen to jhese accounts Ifthe company were wo declare (1) 12% stock dividend? (2 5% stock dividend nc g 296 0 b) What would happen to the accolats the company declared (1) A 3 fort stock split? (3) A 3-for-1 stock split ©) What would happen if there were a reverse stock split of (1) 1-for-4? (2) 1-for6? for-2 stock split? (2) A 2 ‘QuesS. Write short notes on the followings: (2) Tracking Stocks (b) Equity Carve- outs (c) Split ups and Spin offs (d) Forward contract to repurchase shares.~ Seam TE, OM-2 yal FORE School of Management. PGDBM FMG XVII End Term Examination OPERATIONS MANAGEMENT ~ 2 Duration: 1 hr 45min mami: 20 Note: Attempt all questions Question 1 (20 marks) A mnanaver ts atenypring to put toetfer an SES te plan for ths rine months, She has obrained « forecas phigh an pets 3 snd 4 and Ags Fea 8. as can Be seen oon he Faas SSS Period 1 2 3 4 5 6 7 a 3 Twat Forecast MHD no 170 976080 SAO anbes The depariment sone bas 20 full-time emp cach of whom can produce 10 units of outPut Dt period at onto So pet unit, hnwemtony curryis OSE 5 PL sein per period. anu backlog cast is STO per Wn PE perio sree manager is consnbering 2 plan the 6 Sree minng two people 10 start working 19 Pere’ Tons on pee, S500 in addition to unit production: cst denpenary basis ino would work only thee period 5. This woul’ Determine the total cost of the plan, including production, inventory and back-order costs Question 2: (Attempt any three. in oll for this question. Q1 1s compulsory) (6+10 marks) great purchasing clout ith its suppliers The ITE d retai 1. The Wal-Mart retail chain enioy roducing many of the fashion items sold in which is responsible for pf chain own Mast Industries, ‘Ihe Limited stores. The Limited boasts that #t can BO FO the concept for an i: supply chain strategy for store shelf ia 1000 hes. compare and contrast (he implications fo these two retail systems Discuss the importance of RFID for supply chain = Explain how the Pareto phenomenon can PE applie ssaries with viewing them as partners ‘ocess and product technology innovations Jew garment to the anagement. .d to preventive maintenance? 2 3 ‘4. Compare viewing suppliers as adver 5. Give two examples each of recent Pr Question 3: {9 marks) ‘are $12,000 per week as fong as the project lasts (crashing the project by one roject manager has supplied the cost and tm& n below to determine an optimum crashing plan Indirect costs for a project Ea ne eererh cass fot) OG ee ree nas shown below. Use the information informatior and the total costs for the plan. Crashing Potential Cost per Week HETwekk DIAGEAM te Crash ‘31.000 - 3000 frst week, $4,000 others 6.000 1.000 5.000 2900 avec oo &Question 4: Job times {including processing and setup) are shown in the table below. {5 marks) Jo Tine Bue Dae Joon ows to 8 ea a _ ns the SPT rule Detern Determine the processing sequence that would result from ¢ makespan, the average flow time, average tardiness and the average number of jobs at the \ workstation. \ 14-6 4 Q. Br [he FORE Seo! af Management PGDM — FMG ~ Batch XVIII (End Term Examination) E-Commerce Max Marks: 40 Time: 75 min Instructions i. All questions are compulsory. i Please make suitable assumptions, if required while answering and state the same. +. Deseribe various activities inthe procurement process. What is e-procurement? Explain with an example. (10) 2. Write Short Notes on any 3 of the following «sy a. Information Technology Act 2000 b. Online auctions : c. Net Marketplaces 4. Online Publishing Industry 3. Study the case attached and answer following questions in your own language (4444443415)Consultants is a manufacturer with 300 Cambrids ‘emprnyecs ofering tecnica ‘ment Services to commerce and industry With 120 “pro}ecis i hand at any one time, Cambadge needs & (ivae3e range of components every day. Purchasing is centralized across the company and controlled by its Purchasing Manager, Frencis Pollen Bieceuse of its varied and offen unique requirements, Garnbridge has a supplier base of nearly 4000 comparins, with 20 new ones added each month. Some of these: Companies are providing items so specialized thet Cambridge purchases from them no more than twice 2 year Of the total, only 400 are preferred suppliers. Of thoes, just 10 por cent ~ 7 BEF cent of the overall suppiisr base — have been graded key supplier by Gambridge That number includes RS Components. Francis Pulien saya, We charge our elonts by the bour, so if a produc is faulty or late we have engineers waiting for new parts to trrive. This Coosa’ align with our fast time fo market Bust hess proposition. RS Components’ guarantee of service ‘and range of products fits in with our business eos.” ‘The existing purchasing process Polen has seen many changes and improvements in Company's prchasing process as is Suppers have used now technolony to introduce new services. The fst was tnoving to © ROM from te paper based catalog. Nex sras an online purhasing card = an account card with Sotaied tine tem bing, passwords and contol. Using tnausty standard guidpines frm the Chartered insite ot erase aed hp (9) Fans Pa set an ed, Tis took in aeestnt sy step, from the enginger rising a paper requisition, rough processing by purchasing, the cost of handling the livery once it arrived, invoice matching and clearance and even the physical Cost of a fourpart purchase order form. The whole process involved between eight and ten ‘people and cost the company anywhere, trom £60 to £120. spending on the complexity of the order. The main cost is in requisitioning, when enginesrs and consultants spend thelr revenue-paducing time in ident Fying Their needs and raising paperwork. (Centravized 7ehasing, by contrast, is very efficent, costing around 50 an oder) ‘Tsing the RS purchase card removes the need for engi neors and consultants to raise a paper requisition. This mnakes low-value ordering mich more cost-efficient. Invoice matching costs are also reduced, sige the purchase-cars ‘28 purchases made each month ‘Aithough the purchase card is undoubtedly ‘ance, on its own it dove not allow costs 10 ighed to obs in the system each day. The purch Cord statement takes a month to ative; giving rise to 2° squivalent Ig in showing the real costs on intesnal project iaterent Hs The e-procurement process $ ‘mpany to order oaline finmediataly, AS put Cambridge's pre-Internet trading records on the web ‘chasing. agreements, and controls were thus set up on, the Intemet order form. including correct pricing and specie C3yth . ihe Benait was igglay apparent, The Use of the RS purchas te meantte euition sete cote hers ahd aed teenie puch rhein a maibocsied checked agai sical dey: ny This tas cur Gt tWo layers Bf ondet activity. Spr parchasing, we no longer spend ou tie Pa on a at thay have raised, and ther = 90 genera ees eer during the onder process. dest St £3Ye son PP mroney is also far more environmental ware a passing on low-value orders each day ads very ee go 20 aol tis function back Yo ou tea Siar ees up oe te In purchasing fo work o8 tagher valve tsk" cE Benefits for sta Pe putlon continues: ‘Our letomal cusiomers are 80 Foe nppict We Idave at 6 pu. buf thE engineers wi rarer enk late i they are on a deadline: Because they cae et the web site wom thet desks (everyone at Caivtnage has Internet access), they can ade items to sareudse ight up unt S's B p.m. deadine without ou rreotwement We maintain contol because ofthe reporting functions onthe ste" ‘hace 2 of the rsww.com design has also made it 0 be opened during the dy possitte for mutiple onde nc then pu against SHETEN Cost ER aoe ‘tional fis" purchasing card and cowww.com, this Se co to Gariridge of rating @ paper-based ror ‘ner ented beng £00, Using the combiration of the has been FS Pu no tg an onder. Over a eat this represents @ eeeeor 267,000 to Cambridge. The net fet, theretore nate purchases fom RS Components now cost & mote £5,000. yeast Oe ancis Pullen again: ‘RS Kas demonstrated Hs com mitment 16 He eustomers'ta spending time and investing rmonay in Geveloping a world-class purchasing system” That divers tangible customer cost savings and benefits Vie have welcomed their lnovative appcoach 10 purCAAS vhs and botove they are way chad o ie competion 6 tis sector” 1 [Given the goat ofthe purchasing operation at Conca, wat bapets co ye thik Bae Reeeonee ee 2 iy ave Blocuemy cote cui as igh do £60 e-procyrerent? “4 Wat sta benef acerue to Combridoe _Gonsutants 352 ruff e-procurement? wyTime: 2 hours az FORE SCHOOL OF MANAGEMENT, NEW DELHI PGDBM -XVill (FMG) BUSINESS ENVIRONMENT (End - Term Examination-March, 2010) Max. Marks: 40 NOTE: 1. Attempt all the questions. 2. In order to justify your arqument give relevant economic data to support. SECTION-A “Firms operate within an environment in India is extremely complex ans dynamic’, in view of this statement identify and explain five such macrc economic variables that are relevant to business decision making process. What are the major economic policies of the government that may, directly or indirectly, control these variables? 5.5) Do you agree with the view that Public Sector Undertakings (PSU have played a strategic role in accelerating the process of economic growth in modern India? However, over the years these PSUs have become more a liability rather than an asset. In your opinion, is privatisation the only answer? If your answer is NO’, what do you sugges to make them economically viable in order to achieve the sustainable development? (6.3) OR Do you agree that there is always a mismatch between plan formulation and plan implementation, which is quite evident since the inception of the planning process in India? Critically evaluate certain salient features of 41th plan. (5.5) ‘The growth and development of regional trading blocs all over the world has reduced the relevance of WTO, which is basically meant to remove tariff and non-tariff barriers in the free fiow of goods and services all over the world”. Analyse this statement keeping in mind the mushroom growth of FTAs all over the world in the recent times 5) Write short notes on any two of the following a) Global Recession and its impact on Indian Economy b) SEZ is a failed story in India c)_ Trends of Foreign Investments in India 4) New Industrial Policy (NIP) of 1991 6.5)BUSINESS RESEARCH METHODS — END TERM EXAMINATIOI ‘TERM-IL, (FMG -XVIID) ‘TOTAL TIME- 2 HOURS FULL MARKS-40 ‘Answer All Questions 1. A. What are the different types of studies used for research? Explain each in brief. (2424) B. State the obligations of both managers and researchers in a manager - researcher relationship. @ Explain the difference between lexicographic and operational definitions using examples of each. Q D. Discuss very briefly the seven steps used in constructing a questionnaire. ©) 2. A. Explain in brief the different steps used in a research procedure. 4) B. What are the different types of hypotheses? Explain each with examples 6) C. What are the different types of measurement scales used in BRM? Explain each with examples. a ce ed of a good research methodology? or 5. ‘Three different training programs were tested for their impact on performance of groups of workers in a large compan ‘After four months, each worker was rated in terms of job performance. The results are summarized in a table below —s _ Training Programs - _ a 3 cam [ No improvement 20 m0 31 Limpact on Performanc| Moderate improveme: Ss 39 | 36 : __ Great improvement 35 22, t 33 es Az 0-05 oes the data suggest diferences among programs relating to thee impact onthe performance of workers? “6 4. The following data in (Rs. Crores) gives on expenditure on advertisement and sales of a particular firm [—aavertemenrexpendnare @]— To 1. Caleulate the regression equation of'y on x. = 1 Estimate the at .dvertisement expenditure required to attaina sales target of Rs, 240 Crores, G25)Mid Term Examination OPERATIONS MANAGEMENT — 2 Name. Durati iz Sears) Question: ci renional warehouse purchases hand tools from various suppliers and then distributes them on ieee to retailers in the region. The warehouse operates 260.days per year. The orders ca 9 Hy when it is open. The following data is available for a hand drill it stocks: toc daily demand = 1) drils, Standard deviation of dally demand. 5drills, fea ime © Ci 0. the ordering cost per order =$35. The evele service 4b ~ Ave 3days. holding cost ner unit per ve icvel is 92%. (z-value for 92% SL The warehouse uses a continuous (O) system. 3 een 54 4 ‘ E i Wwhot ordeejUantits and reorder point Shoukd be used? Thonchand inventory is 40 units. one onen order for 444 drills is nendine. and no beck orders exist, should a new order b ¢ placed? ose that a periodic review system (P) is used at the warehouse. but otherwise the data are the same as given above. A dans Calculate the time Between orders (in workdays, rounded to the nearest day) that give imately the same number of orders ner vear as the LOO. ase 22" aa &. Wat is the value of the target inventory ievel? Compere the P. Gstem to the Q system. im. Ox-hand inventory is 40 dritis: receint of 440 drills is ce tis ime scheduled. and no backorders exist. How much should be reordered? $233 Question 2: (Smacks) Which elements of JIT systems would be most troublesome for manufacturers to implement? Why? Question 3: (4 marks) The demand for a product is experiencing a decline at a company. The company wants to monitor the demand — for this product closely as it nears the end of its lite eye! Tine wend- adiusted exponential smoothine method is used with aloha = 0.1 and beta = 0.2.At the end of December, the updated estimate fur the average number of eases SoKU per month was 900.000 and the updated trend was -50.000 ver month. The following tab le shows the actual history for January. February. and March. Generate forecasts for February and March. Saks Fp 00,000 acas 800.000 sao Ahm BENE $25,000 go«z20 4a asersFORE School of Management PGDM ~ FMG ~ Batch XVIIL (Mid Term Examination) E-Commerce Max Marks: 20 Time: 75 min Instructions i, All questions are compulsory. ji, Please make suitable assumptions, if req while answering and state the same. 1. Deseribe basic essential elements of e-commerce needed to complete internet based shopping. What are various characteristics / capabilities of conducting trade in B2B business model? (Gy 2. Write Short Notes on any 2 of the following 6 a. Security threats in e-commerce vb. Payment systems in e-commerce _e. E-commerce business model 3. Study the ease attached and answer following questions in your own language. a. To what extent was the internet revenue contribution of around 90 percent achieved ‘more by luck than judgment"? (3) b. Explain the proposition of using the internet for the customer and define the benefits for the company Q) c. Deseribe the salient feature (infrastructure, security, payment etc.) available on the EasyJet website G)The e-volution cf easyJet’s online revenue contribution 3 This historical case shows how the easyJst web site (Fige2 8.7) became the main sales channel fr easyJet from its launch im the 1990s. How the Inert was used lor service deinery and marketing communications is also describes This case study has been retained since it 7ustates the benef ofa planned strategy tothe e-channes, EasyJet was founded by Stelios Haji- losnnou, the son of a Greek shipping lycoon who reputedly used to “bate the at’ In the mid-1990 Hajoann eportedly denounced the Internet 33 something ‘for nerds’, and swore that it ‘wouldn't do anything for his business, This is no longer the ease, since by August 1999 tho site accounted for 33 ent of ticket sales oF over 135,000 ts. This was past the company's origi nal Internet contribution target at leunch ‘0f 30 per cent of gales by 2000. Ia period from launch, the site had taken ‘more than 800,000 bookings since i as set Up in Apt 1998 after a shaky stant of two Sales inthe fist week arid one thou. 53nd within the first month. In March 2000 easyJet increased its online dis- {count to £2.50 for a single tip ~ a higher jevel of periiant discount than any ‘other aiine... By September 2000. Inteenet sales reached 85% of total sales, Since this time, the growth in proportion of online sales has decreased. By 2003, ‘over 90% of al sales wore onine, The articles rolate the tale of the owners office being graced by a photo (of the owner with hems on his head and a Mexican moustache on his upper ip. Figure'8:7 easyJet web The image was’ contributed as a,com- Bo os neageary eid lain By an\"aggtieved customer:"The natura ‘bf ihe "users. of the Bite) A'stsadyige Inthe number of calls entreprenour was Indicated since he sent the customer occuméd every week. This tay success corneided with two free tickets. # the coinplary running out of space at ts call centre due to The company Wai Gigi stip in 1998 AEA: easyets Growth, Haj loannce lato, We cits fed £2st aitine, looking to underait wetional cae uct” stat sling over tho niemel ex bald mew call corn, Se “ss Binns arways, bade Jo rom'x an Gera To™ our transactional site becariea £10 millon cocsen FET Although the’ iccess'of eanylet Gould be put down = solely 16the founder's adaplabity‘and vision, tha com any was helped by tho market operated in aid its nstrance’hd the sav: chosen business model twas already a 100 per cent. ings which crect sling would bring. 1° rect phone sales operation, This meant it was relatively ‘AlthoughrHaj-loiinou thought atthe time thal thee: “easy to Blea stom, was no ne to worry about the Intent and tat ano sk There channel conficts with iter : nce net alsa. oo gotential chan conficis with inter~— was enough he was adaptable enguoh to change” When, "mediadiga such as travel agents: Tha web aise Tied iy a basic tal‘site was launched, hy: kept a close Sys on wth, det propesiion of fo tickets, no how popular the. dedicated infortiation and: Whig re. and fight meals. hone line was (havi a WB sec pond sunber: “Customary ae Gans PH sanbse ef ook ore or ‘advertised on the sita’can beset to trace,thewokina’ of web sil which they oN hk ex gibl he amar ehh Thi RREenoae” Ses PariSale over the Internet began in Apel 1808, anc ante cayate reve mesa iene ied by Tableau, a Yow month ago easyet look then into The one portant easy since hes to ‘eaucernnen cova rrr fs compary ee eae, passenger generates 2 prot of ony £1.50, Sarge to tarda rat sesugh cuscnea ony cree aa tooter ates Fad te eto bookenion is par of Be otlna prfeailon Otins Biseriate toon om of socal Sat iatead of ne stnad ational rate a easyJet’ booking tine. The owe says at esos Oe leet ight seem smal compared toma seria eal oa ans wich saves between £5 and £10" but when You ting Tow mech it would Got to buld a now cl conte nay very eeapset reservation agont 80 pon for ase $id oto anton at the muaiemen = you ak tmuch mor than he £1 ef we ge onne oes iat aout the fike of aerang eee who dont want to bon on? Tis Soest wee te one Ne tare im sures are poopie who treme mde olnontoe vino say they ea se te teeta wi fy Ryans stead Bam mor word ou teeny my can ts evn, a ing enough peopl oy aoplaes | crt need exon poops yea nt Se ac Promotion ‘The Inmet marketing gurus say ‘put the company URL "everywhere, EasyJet has taken this fterally with ks wed adress along the side ofits Bosing 737s, Easylet frequently varies the mix by running internet- conly promotions in: newspapers. EasyJet ran its first Internet-onty promotion ia a newspaper in The Times in February 1999, with impressive results. Some 50,000 seats were offered to readers and 20,000 of them were sold on the first day, rising to 40,000 within three days. ‘And, according to the marketing director. Tony Anderson, ‘most ofthese were seats that otherwise would have bev flying along at 600 mph - empty, The scalability of the Internet nelped deal with demand since everyone was directed to the web site rather than the company needing to employ an extra 250 telephone operators. However, risk management did occur with a microsite built for Times readers (wwnw.simes.easviet.com) 10 avois putting 8 strain on easycet’s main site, ‘Anderson says, “The airine promotions are basically signed to get rid of empty seats,” He adds. if we have ight going to Nice that's leaving in 20 minutes" time, Costs us very litle to put some extra people on board, land we can get, say, £15 a head for "Flight promotions are intended t0 avoid attracting people who'd fly with 205yJet, 50 advanced booking schemes are inteided 10 achieve that. A later five-week promotion within The Tames and The Sunday Times newspapers otfered cheap fights to a choice ofall easyJet destinations when 18 tokens were Collected. In total, 100,000 seats were sold during the ‘romotion, which was worth more than £2m tothe atin. ‘Thity percent ofthe seats were sls online withthe rest of the transactions being Completed by plone: 13,000, ‘orders wor taken over the interne in the stay alone ‘with over 15,000 people onthe i at one owt. ‘The web ste also acts as 3 PR too, Haj-loannou uses its immediacy to keep newspapers informed about new promations and offers by phoning and e-mating journal ists and refering them tothe web se ator than axing ‘The web ses aso used as an apgresive oo wht 8 very competitive marketplace, Hjloannou says ‘Once we hha atl these people coming to ow ste, | ashed myst “viny pay a PR company to publicise what we think when we have a captive audience on the sie?” Fer example, {syle ran a competition im which poople had to guess what BA losses would be on "Go ts budget rival to e2sjdet he gure tues ut be $20. Wan mies of the BA resuts being announced on 7 September, the 2syet se had te 50 fight-ket wines fem an here be 65,000 people who had entered. In a similar vein ‘section ofthe ste was ented ‘atte with Swissair. ging azyJet's viow that Swissai’s head hed persuaded te ‘Swiss goverment to stop easyJet bing grated a commie ial, Scheduled tconce on the Geneve: Careelona Tove EasyUet also called sei The web's favourite ating 1990, a drt counterpoint o Bch Away’ sogan ot Tho won’ taut atin or which eyed cou bat, EasyEverything Foliowing the brand extension success of Vig, easyJot thas used the “easy’ prefix to offer accitional services as part of the easyGroup: ‘© casyEventhing, a chain of 400-seat-capacity Internet cafés eniginally offering access at £1 an hou This is fun as an independent company and wil charge ‘easydet for banner ads, but clearly the synergy wit! hop with eickthrough between two and thres par Gert. The only concession easyEverything makes towards easyJet is that café customers can spend time on the lea5jdet st for tree. 1 ca5yfientacar,a low-cost car rental business offering car rental at £9 a day. These casts are possible tough offering a single car type and being an Internet-only business. Implementation ‘The articles report that Russell Shetsis, nead of new: media agency Tableau, which inity worked with easy Jot ‘had an initial probiem of coloust “He says there was 2 battle to stop him perting is favourite Colow ail over the ‘Site The site was iritended to be hight functional, simply signed and without any excess baggage. He says “the home page (orange) only had fow options ~ buy entine, "news, info, and a topic of the moment such as BA "go" —>osses ~ and the site's booking system is simpler 10 Use tan some of ts competion. He acs: “great etfort was put into making the eavigation intutive ~ for examp! Crore can move directly fom the timetables t0 the book ing area, without having to Go via the home past ‘ine site was designed to be well integrated asyJet's existing business processes and sy eample, press releases are fed through an electron eed into the site, and nes destinations appear automa cally once they are fed ito the company’s information Measurement of the efectivaness of the site occured through the dedicates prone numbar on the site which Showed exactly how many calls the site generated, and the shcmonth targot within six weeks. Web-site log file analysis showed that people were spending an average of ight minutes a time on the site, and better stil, almost Gveryone who called bought a fickst, whereas with the ‘rotmal phone line, only about one in six callers DUYS. Instead of having to answer questions, phone operators ‘were doing nothing but sel tckets. ‘Once the web site generated two-fihs of easy.let business, It was taken in-house and Tableau now acts olay aa stratogi adviser.