5 Midland University like most metropolitan universities fac

5. Midland University, like most metropolitan universities, faces a chronic shortage of parking spaces on campus. Each stakeholder group in the typical university community (these groups include students, faculty, administrators, staff, and visitors) believes its members should have the top priority for parking spaces. You have been assigned to a university task force to study the problem. You decide that an annual online auction of parking spaces conducted on the university’s intranet could provide a solution. In about 300 words, describe the elements of an annual online auction for parking spaces at Midland University. Be sure to include provisions for disabled persons and for those university employees who do not have regular access to computers in their typical work environment (such as janitors, physical plant maintenance workers, or gardeners).

Solution

>I believe that implementing a Reverse Auction for parking spaces at Midland University would be the best option. Reverse Auction works well in this situation because the products being sold have more than 1 quantity and are all the same. Also, since there are a number of stakeholder groups bidding for this product, this would be the fairest way to sell. It allows the buyer to buy the product at their desired price rather than have everyone compete and drive prices to where some individuals cannot afford it.
>First, I think the parking spaces should be broken up in Lots based off the groups. For example, parking spaces for students would be called the “Student Lot” and staff would have a “Staff Lot.” This way, each group gets the same amount of parking spaces and do not have to compete with each other on bidding. Of course, the University should keep a couple non-specified Lots for those who are unable to win a reserved parking space for the year.
>In conducting the Reverse Auction, each Lot will commence the auction at the same time. Half of the parking spaces from each lot will be held online while the other half will be conducted through form submission. This way, individuals who do not have access to a computer may also bid. All parking spaces will begin with a specified price and since it is a Reverse Auction, the price will drop in increments such as $50 every 30 minutes. Each bidder may bid at the current price or indicate a bid they are willing to pay. The auction ends when the number of people bidding equals the number of spaces available. All winning bidders then pay the final posted price even if a winner bid higher. However, those who bid a price below the final posted price will not win. Also, if there is ever a tie, the bidder who bid first wins.