Operations Management in Business Table of Contents Introduction..............................................................................................................................3 LO 1 LO1.1 Explain the importance of operational management.......................................................4 LO1.2 Explain the need to produce safely; on time; to cost; to quality and within the law......6 LO1.3 Explain the link between operations management and strategic planning...........
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Question 1 1. The following is Addison Corporation’s contribution format income statement for last month: Sales $1‚000‚000 Less: Variable Expenses $ 700‚000 Contribution Margin $ 300‚000 Less: Fixed Expenses $ 180‚000 Operating Income $ 120‚000 The company has no beginning or ending inventories. A total of 20‚000 units were produced and sold last month. What is the company’s margin of safety in dollars? $400 000 10
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10.1 HSC topic: Operations -> is about planning & controlling operations with the aim of minimizing cost‚ maximizing productivity‚ improving efficiency and achieving strategic business goals 25% of indicative time The focus of this topic is the strategies for effective operations management in large businesses. Outcomes The student: H1 critically analyses the role of business in Australia and globally H2 evaluates management strategies in response to changes in internal and external
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10.1 Operations Potential questions‚ Students learn to: Examine contemporary business issues into: * Discuss the balance between cost and quality in operations strategy. * Examine the impact of globalisation on operations strategy. * Identify the breadth of government policies that affect operations management. * Explain why corporate social responsibility is a key concern in operations management. Investigate aspects of business using hypothetical situations and actual business
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spending its cash. Cash-Generating Efficiency Managers accustomed to evaluating income statements usually focus on the bottom-line result. While the level of cash at the bottom of the statement of cash flows is certainly an important consideration‚ such information can be obtained from the balance sheet. The focal point of cash flow analysis is on cash inflows and outflows from operating activities. These cash flows are further used in ratios that measure cash-generating efficiency‚ which is a company’s
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organization‚and it is integrally related to all the other business functions.All‚organizations market‚finance‚and produce‚and it is important to know how the activity functions. OM let us understand what operations managers do‚regardless of you job in an organization‚you can perform better if you understand what operations managers do. OM provides a major opportunity for an organization to improve its profitability and enhance its service to society. OM is such a costly part of an organization
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Describe a range of negotiation styles and evaluate their effectiveness Definition Negotiation‚ according to Tubbs and Moss (2006) is a “set of methods for resolving conflicts between and among people”. They also quote Walker and Harris (1995) who define negotiation as “the process of resolving differences through mutually acceptable trade-offs”. To define conflict‚ Tubbs and Moss choose a definition by Wilmot and Hocker (1998): “an expressed struggle between at least two interdependent
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Unit1 Understand the range of service provision & roles within health and social care. Task1 1.1‚ (1.2‚1.3): Examples of different types of service provision including their purpose and examples of who may use them. Service | Service Provided | Service User’s | General Practitioner | A general doctor who treats acute and chronic illnesses and provides preventive care and health education. | Anybody | Accident & Emergency | Acute care of patients in an emergency. | Anybody | Pharmacy
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aim of consumer options‚ food services can be different as elegant ambience‚ fine dining‚ casual dining‚ fast-casual dining restaurant. The focus of this study is on the operations management of a food service provider which is the fast-causal dining restaurant. The researchers have chosen Queen “J”‚ being the vendor of concession canteen of Shell Shared Services in which one of the researchers is employed and this paper describes the operations of this food service by studying the characteristics
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Business Report- Operation Influence Influences on operations management have a dual effect on the businesses. They can cause the business to undergo change and to adjust to external factors‚ as responsiveness to change is a constant issue. The second effect is the threats and opportunities influences present. An understanding of these external influences can help a business be able to manage and respond to them in an efficient manner by implementing various strategies. As such‚ this will contribute
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