Operation Pedestal Operation Pedestal could be described as one of the most important successes for the Allies in World War II. Little celebration is given to it despite having turned the war in Britain’s favour. During the summer of 1942‚ the key position of the British base in Malta‚ the tiny island south of Italy‚ was put under siege. The base enabled the Allies to boycott Axis supply convoys destined for North Africa and prevented the Axis powers from gaining a monopoly of the Mediterranean
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DEMAND AND SUPPLY In the market economy‚ the interaction of the buyers and sellers determines how the market will work. Buyers demand and producers sell for a particular quantity of goods and services at a certain level of prices. To Adam Smith‚ widely cited as the father of Modern Economics and Capitalism‚ in a free market‚ consumers are free to choose varieties of commodities‚ while producers have freedom of choice the commodities for sale and its production. Market settles on the price that
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Question: 1. Briefly describe the term operations management? Answer: Operations Management is management of system or processes that create goods or provide service. The term operations management includes interrelated activities such as forecasting‚ capacity planning‚ scheduling‚ managing inventories‚ assuring quality‚ motivating employees‚ and deciding where to locate facilities and more. 2. Identify the three major functional areas of business organization and briefly describe how they interrelate
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last lecture you learned to solve zero sum games having mixed strategies. But... Did you observe one thing that it was applicable to only 2 x 2 payoff matrices? So let us implement it to other matrices using dominance and study the importance of DOMINANCE In a game‚ sometimes a strategy available to a player might be found to be preferable to some other strategy / strategies. Such a strategy is said to dominate the other one(s). The rules of dominance are used to reduce the size of the
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to the success of Galanz Company? Please analyses the company form the perspectives of competitive strategy and operations strategy? The early success of Galanz can be prescribed to its ability to deploy its resources in an effective manner and establish itself as a recognized brand in its domestic market through a consistent competitive strategy of Cost Leadership (Porter). The competitive strategy of Galanz is cost leadership which has resulted with increased market share by being aggressive in
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LOGISTICS AND SUPPLY CHAINS Contents Learning objectives 3 Role of logistics 4 Supply chains 8 Aims of logistics 14 Activities of logistics 18 Importance of logistics 22 Chapter review 28 Case study – Ace Dairies 29 Project – useful websites 30 Discussion questions 31 References 31 Further reading 32 LEARNING OBJECTIVES After reading this chapter you should be able to: • understand the broad role of logistics • see how logistics support the operations of an organisation • describe the role and
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chapter: 3 >> Supply and Demand Krugman/Wells Economics ©2009 Worth Publishers WHAT YOU WILL LEARN IN THIS CHAPTER What a competitive market is and how it is described by the supply and demand model What the demand curve and supply curve are The difference between movements along a curve and shifts of a curve How the supply and demand curves determine a market’s equilibrium price and equilibrium quantity In the case of a shortage or surplus‚ how price moves the
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The law of supply and demand describes how prices will vary based on the balance between the supply of a product and the demand for that product (Wikipedia‚ 2005). If there is a balance between the supply‚ (the availability of the product)‚ and the demand‚ (how much product the consumers want)‚ then the price for the product would be considered good. If there is an imbalance‚ the price will change. According to Adam Smith‚ the invisible hand is a self-adjusting force in the market that corrects
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assault plans for the invasion. The next thing that they needed was a commander. In December of 1943‚ General Dwight D. Eisenhower was chosen. General Eisenhower had led many allied operations in both Italy and North Africa. He took his new position in January of 1944. Next‚ the invasion was given a code name‚ Operation Overlord. This battle would be the factor between winning and losing the war. To get ready for such a massive invasion‚ many military divisions came together from many different countries
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The tour operation sectors Tour operators are businesses that merge 2 or more travel services together e.g. accommodation‚ transport‚ tour guide‚ catering and sell them through travel agencies or directly to the consumers as a single product that is called package tour. The package tour might be the combination of services that the consumer wants to get her hand on. Customers chose tour operators rather than organising a holiday independently because it offers a hassle free‚ secure and most of
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