Keller Mgmt 530 Final Exam Guide

KELLER MGMT 530 Final Exam Guide
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(TCOs A, B, C, D, E, F, G and H) Tidewater Services recently celebrated its 10th
anniversary as a professional services firm that handles investigations for law firms
offering amenities, such as background checks, surveillance, interviewing of
witnesses, crash scene investigation, and other related services.
The company was founded by Lee Herbert who had extensive experience working
for companies that handle investigative work. Herbert is more of a people person
and is always looking for the next new client to take on. Admittedly, Herbert had no
experience in running a business when he decided to go out on his own and enlisted
the help of his long time friend, Bradley Simmons.
Simmons has spent his career working for larger corporations in finance and had no
experience in investigative services, but was looking for a change.
Over the 10 years since the company’s founding, Tidewater Services struggled at first
but slowly grew over the last five years. The more law firms the company works
with, the more cases they receive. The more cases they receive, the more hours they

can bill. Tidewater currently has six investigators and two clerks in addition to
Herbert and Simmons. Over the years, they have expanded and contracted based on
the volume of business and the local economy.
Based in Norfolk, Virginia, Herbert is really interested in expanding the business to
other major cities in the region, believing that “there are only so many law firms
here in Norfolk.” He feels that if they’ve survived 10 years, then they should continue
to focus on growing the business. Simmons, on the other hand, feels that expansion
will put the company at risk as it takes time to develop a decent client base. They had
opened a second office several years back across town...