needs arise due to deprivation. Satisfying these lower-level needs is important in order to avoid unpleasant feelings or consequences. Maslow termed the highest-level of the pyramid as growth needs (also known as being needsor B-needs). Growth needs do not stem from a lack of something‚ but rather from a desire to grow as a person. Five Levels of the Hierarchy of Needs There are five different levels in Maslow’s hierarchy of needs: 1. Physiological Needs These include the most basic needs that
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CHAPTER Operations Strategy and Competitiveness Before studying this chapter you should know or‚ if necessary‚ review 1. 2. The role of the OM function in organizations‚ Chapter 1‚ pp. 3–4. Differences between strategic and tactical decisions‚ Chapter 1‚ 9–10. 2 LEARNING OBJECTIVES After studying this chapter you should be able to 1 2 3 4 5 6 7 8 9 Define the role of business strategy. Explain how a business strategy is developed. Explain the role of operations strategy in the organization
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|STAT 2800: doING bUSINESS IN eUROPE | |Operations Management | |Nordea v. Honka | |
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priciples of mar A. DEFINITION AND CORE CONCEPTS OF MARKETING MARKETING – social and managerial process by which individuals and groups obtain what they want through creating and exchanging products and value with others - managerial process of producing‚ pricing‚ distributing‚ and promoting products to satisfy the needs‚ wants and demands of their respective markets NEEDS – states of self – deprivation - natural elements designed for survival - anything required
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Key operations questions Chapter 1 Operations management ➤ What is operations management? ➤ Why is operations management important in all types of organization? ➤ What is the input–transformation– output process? ➤ What is the process hierarchy? ➤ How do operations processes have different characteristics? ➤ What are the activities of operations management? Chapter 2 Operations performance ➤ Why is operations performance important in any organization? ➤ How does the operations function incorporate
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called Goods for Resale‚ primary procurement‚ common goods procurement or core procurement) have spent decades engineering their primary supply chain – ensuring: * Goods for resale (GFR) margin is at or above industry standard * Risk is kept to a minimum * Long term supply has been assured with preferred suppliers * Relationships have been built and developed over time * Processes have been engrained into the core business * Senior executives and Board members acknowledge the value
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with competition from foreign companies who have operations across geographies‚ in their local markets. At the same time‚ firms are no longer catering only to the customers in their local markets. They are increasingly catering to customers from various markets and geographies. These changes in business environment made globalisation of operations a must for firms to sustain their competitive advantage. Today firms need to have diverse operations to be fast and flexible to demands of customers from
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years ago‚ Raymond Baumhart the greatest sociologist questioned organization people‚ "What does ethics mean to the business world?" Some people believe that Ethics is a kind of feeling which would give the knowledge about right or wrong situation on the basis of religious beliefs. While other argues the prior view admitting that it simply the level of behaviour society accepts and the law requires. “Ethics is a study of moral standards whose explicit purpose is to determine as far as possible whether
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Role of operation managements within an organisation The Operation management is the activity of managing the resources which produce and deliver products and services. It is one of the core functions of any business. Operations function is the part of the organisation that is responsible for this activity. Every organisation produces some type of product or services so it has an operations function. However not all organisations call the operations function by its name. The people who have the
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behind on a chair‚ along with his hat and overcoat)‚ picked up a large newspaper from the table with his left‚ and used them to drive Gregor back into his room‚ stamping his foot at him as he went” (Kafka 11). These actions do not make Mr. Samsa a kind human being‚ but they do make him a human with flaws‚ which is more humane than being a human without flaws. Another example of a time when Mr. Samsa’s actions are imperfect is when he chases Gregor around the room and throws apples at him. He is
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