Chapter 1 Introduction to Operations Management True/False 1. Operations managers are responsible for assessing consumer wants and needs and selling and promoting the organization’s goods or services. Answer: False Page: 4 Difficulty: Easy 2. Often‚ the collective success or failure of companies’ operations functions will impact the ability of a nation to compete with other nations. Answer: True Page: 4 Difficulty: Easy 3. Companies are either producing
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Business forecasting is the process of studying historical performance for the purpose of using the knowledge gained to project future business conditions so that decisions can be made today that will aid in the achievement of established goals. Forecasting plays a crucial role in today’s uncertain global marketplace. Forecasting is traditionally either qualitative or quantitative‚ with each offering specific advantages and disadvantages. Qualitative and Quantitative Forecasting TechniquesForecasting
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Career and Professional Development (OAD 134) Questions from chapters 1 & 2 in your textbook NOTE: You need to keep a copy of your answers so that you have them to study for your first test. 1. List 7 workplace trends that are changing the labor force. larger workforce older workforce increase in e-commerce more service jobs change in consumer demand more diversity in the workplace increase in education and training requirements 2. How many new jobs for office and administrative
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South’s raw cotton to supply its booming textile industry. Cotton diplomacy did not work as the South had hoped. Britain had large supplies of cotton‚ and it got more from India and Egypt. Abraham Lincoln - Abraham Lincoln was born Sunday‚ February 12‚ 1809‚ in a log cabin near Hodgenville‚ Kentucky. His father was a carpenter and farmer. Lincoln’s declining interest in politics was renewed by the passage of the Kansas-Nebraska Act in 1854. In 1856 Lincoln gave his Lost Speech. He opposed the Dred
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Chapter 6) * Direct Marketing: A marketing system for developing products‚ sending messages directly to consumers‚ and accepting orders through a variety of media‚ and then distributing the purchase directly to consumers. * Direct response advertising: Advertising placed in a medium that generates an immediate and measurable response from the intended market. * Direct Mail: A printed form of direct response advertising distributed by Canada Post or independent delivery agents.
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CHAPTER 5: HENRI FAYOL 1) How convincing is Fayol’s claim that the activities of industrial undertakings can be divided into 6 groups? According to Fayol the activities of industrial undertakings could plausibly be divided into six groups‚ regardless its size or the complexity. These groups of activities or essential functions are always present and they are: technical activities (production‚ manufacture‚ adaptation)‚ commercial activities (buying‚ selling‚ exchange)‚ financial activities (search
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Business Forecasting Coursework Introduction The data of this coursework are business investment in the quarterly series in the manufacturing sector from 1994 to the second quarter of 2008 in UK. In the coursework‚ firstly analyze the former 50 data to forecast the latter 8 ones and then compare with the real data to see if the forecasting model is a good fit or not. As adopting two different approaches to make the forecasting work‚ including regression with Dummy Variables method and Box-Jenkins
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What drove European involvement in the world of Asian commerce? They wanted tropical spices such as cinnamon‚ nutmeg‚ mace‚ cloves‚ and‚ above all‚ pepper. They also had Chinese silk‚ Indian cottons‚ rhubarb for medicinal purposes‚ emeralds‚ rubies‚ and sapphires. To what extent did the Portuguese realize their own goals in the Indian Ocean? They would steal goods from cargo ships delivering goods. They had ships that could outmaneuver other ships and they had on board cannons that other ships
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ECON CHAPTER 4 PRACTICE QUESTIONS Names____________________ 1. Melissa buys an iPod for $ 120 and gets consumer surplus of $ 80. a. What is her willingness to pay? b. If she had bought the iPod on sale for $ 90‚ what would her consumer surplus have been? c. If the price of an iPod were $ 250‚ what would her consumer surplus have been? 2. An early freeze in California sours the lemon. Explain what happens to consumer surplus in the market
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Quiz-Ch.6 Management Name: ____________ Student ID:________________ 1. The first step in implementing strategy is to: A) establish the mission B) allocate responsibility C) hold people responsible D) establish a timetable E) allocate resources 2. An organization attempts to succeed by distinguishing its products from those of the competition. What type of strategy is this? A) Focused differentiation strategy B) Low-cost strategy C) Related diversification strategy D) Unrelated
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