WHAT IS OPERATIONS MANAGEMENT? Production: The creation of goods and services Operations Management: The set of activities that creates value in the form of goods and services by transforming inputs into outputs. Operations management is one of three main business functions involved in the creation of goods and services (i.e.‚ Operations Function‚ Marketing Function‚ Finance/Accounting Function). These functions all interact and share information with one another‚ as the diagram on the
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Processing – different types of input‚ output and storage devices may be interconnected to an electronic computer to process data. DATA PROCESSING CYCLE 1. Input – In this step the initial data or input data is prepared in some convenient form for processing. The form will depend on the processing machine. 2. Processing – In this step the input data is changed‚ and usually combined with other information‚ to produce data in a more useful form. 3. Output – Here the results of the
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The Process of the Criminal Justice Process Ticauda Coleman Strayer University Dr. Denise DeShields January 13‚ 2013 The topic that I chose to describe is the criminal justice process. The criminal justice process is described as a process that involves a series of steps beginning with the investigation of the crime and the arrest of the suspect. The next step following the investigation is the pretrial activities‚ which include the first appearance‚ a preliminary hearing‚ information or
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THE PRODUCTION PROCESS :THE BEHAVIOR OF PROFIT-MAXIMIZING FIRMS THE BEHAVIOR OF PROFIT-MAXIMIZING FIRMS Production : The process by which inputs are combined‚transformed‚and turned into outputs. Firm : An organization that comes into being when a person or group of people decides to produce a good or services to made a perceived demand Three decisions that all firms must make: 1. How much output to supply 2. How to produce that output 3. How much of each input to demand a) PROFITS AND ECONOMIC
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Prospective Capital Flows and Currency Movements: U.S. Dollar versus Euro This case revolves around fictional foreign-exchange strategist named Luke Anthony‚ as he attempts to predict the likely future path of the dollar/euro rate. In order to come to this hypothesis‚ the reader is presented a slew of financial information‚ ranging from detailed capital flows‚ interest rate differentials‚ and recent central bank press releases. This data in turn must be must be analyzed and synthesized in order
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rP os t Indian School of Business ISB009 February 15‚ 2013 Rajesh Chakrabarti op yo Hedging Currency Risk at TT Textiles It was a hot March morning in Kolkata in the year 2009. Sanjay K. Jain‚ —Joint Managing Director of TT Textiles‚ watched the sunlight stream in through his office windowpane. But his mind was elsewhere‚ tracking the movements of the Swiss franc (CHF) in the last few months and the world events that had caused them. The Swiss franc had touched 1.17 CHF/US$ from the previous
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Gantt Chart A Gantt chart‚ commonly used in project management‚ is one of the most popular and useful ways of showing activities (tasks or events) displayed against time. On the left of the chart is a list of the activities and along the top is a suitable time scale. Each activity is represented by a bar; the position and length of the bar reflects the start date‚ duration and end date of the activity. This allows us to see at a glance: What the various activities are When each activity begins and
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organisational process? Ans1. Strategy Organisation is a social system of people who are structured and managed to meet some goals Strategy means the grand plan and the term is borrowed from the military which distinguished between the grand plan and actual action by calling the former strategy and the latter tactics. Strategy in organizations can be divided into three: Corporate strategy Business strategy Functional strategy Organisational Process – Structure‚ System‚ Process‚ Jobs
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Chart/Graph Paper Kelly Preskorn HCS/438 Statistical Applications October 12‚ 2010 Lynn Bertsch Chart/Graph Paper “Data are summarized in a visual way using charts and graphs (Rumsey‚ 2010).” Some of the basic graphs used include pie charts‚ bar charts‚ and histograms. Pie charts used more for percentages‚ bar charts used to compare groups and histograms to show numerical data. Pie charts take data that is categorized and shows percentages or individuals that can be placed into
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B06-03-0006 A Global Manager’s Guide to Currency Risk Management Introduction Since the advent of the floating exchange rates‚ any time that a transaction—whether that transaction is in goods‚ services‚ people‚ capital‚ or technology—has crossed borders‚ it has been subject to the influence of changes in exchange rates. The basic problem posed by exchange rates on the cross-border firm is that money across borders has no fixed value. Consequently‚ neither does a transaction undertaken across
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