Description

IFSM 300 Final Assessment Exam

NOTE: As for all work in this class, the final exam must be original work developed by the

student solely for use in this class and must conform to UMUC’s academic integrity policies.

Instructions:

Use the Case Study presented here to answer the questions below. Your answers should be long

enough to answer each question fully and completely and typed below the individual question in this

document. Follow the instructions in the questions to determine the appropriate length of your

responses.

 Your answers should demonstrate an understanding of the concept(s), should apply

critical thinking, and should provide analysis of the Case Study in light of the concepts(s).

 You should not just re-iterate what has been presented in class, but integrate the

information and relate it to the Case Study.

 Proper APA style must be used for any citations and references that you use.

 Your exam will be graded on the completeness and accuracy of your responses and

whether you have appropriately tied your responses to the Case Study. Responses that

do not mention the Case Study will receive very few points, if any. Each question is

worth 10 points.

Virginia’s Finest Meat Distributors

Victor Constantine is owner of one of the few remaining privately owned meat distributors in the

Washington DC Metropolitan region. Independent butcher shops have decreased in number over the

last decade, since meat sales have fallen overall and restaurants have increasingly moved to large

wholesale distributors. However, this has created an opportunity for specialty butcher shops in markets

which provide only basic options through these larger retailers. Victor's market niche is providing

customized meat cuts for each client – clients are individual restaurants, chains, caterers and specialty

places such as country clubs.

Virginia’s Finest Meat Distributors (VFMD) operates a 40,000 square foot processing plant in

Winchester, Virginia. The company is doing very well with revenues steadily increasing over the last

several years and reaching $19 million in gross revenue last year, netting a modest but satisfactory net

profit. As would be expected, the largest expense is the cost of the meat itself, followed by labor costs

currently hovering around $2.5 million per year. Current debt includes approximately $4 million on its

current building.