Business Organisations and Operations Assignment Task 1 Differences between types of organisations Sole trader: is the simplest way to run a business - it does not involve paying any registration fees‚ keeping records and accounts is straightforward‚ and you get to keep all the profits. However‚ you are personally liable for any debts that your business runs up‚ which make this a risky option for businesses that need a lot of investment. Partnerships: consist of two or more partners who are
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Types of forecasting There are two major types of forecasting‚ which can be broadly described as macro and micro: Macro forecasting is concerned with forecasting markets in total. This is about determining the existing level of Market Demand and considering what will happen to market demand in the future. Micro forecasting is concerned with detailed unit sales forecasts. This is about determining a product’s market share in a particular industry and considering what will happen to that market
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What is Operations Research? Operations Research is an advanced use of analytical technique which is beneficial for decision making. It encompasses a wide range of problem solving techniques in the aim of good decision making. People holding skills in OR (operations research) hold positions in decision making and business analytic and marketing analysis. Operations research is also referred as Management science or Industrial Engineering. With today’s times and changing client demands OR is the
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TABLE OF CONTENTS I. Forecasting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 A. Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 B. Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 C. Importance of Forecasting. . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 1. Product Life Cycle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
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become the largest company listed on the Philippine Stock Exchange in terms of revenue. The company’s main sources of revenues include rental income from mall and food courts‚ cinema ticket sales and amusement income from bowling and ice-skating. As of this year‚[when?] SM Prime become one the largest shopping mall chains in the world with 40 supermalls with eight proposed/under construction. Its largest mall and first of all SM malls is SM City North EDSA. Alongside is the once-largest mall in the country
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Production and Operations Management Sample Questions 2004 Ql. Product Positioning Strategies are often subdivided into: Make to Stock Make to Stock and Assemble-to-Order Make or Engineer-to-jOrder Discuss with examples an industry where each of the above strategies might be used. Q2. Production Process Environment are: Jobbing Batch Mass or Flow Production Discuss with examples an industry where each of the above processes might be used. Q3. What is meant by each of the following
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Friday 10th May 2013 Wordcount-report-2210 Introduction This report discusses the marketing budget of a small suburban bar(Bar X) and the forecasting techniques in which the organisation may use in negotiating the marketing budget‚ taking into consideration the implications of
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1. Should Children Be Encouraged to Think for Themselves? Should children be encouraged to think for themselves? This is one of those questions that seems to invite an immediate and emphatic‚ almost dismissive answer. “Of course children should be encouraged to think for themselves. We’re not raising robots‚ after all. What’s wrong with you? How dare you ask such a silly question!” Well‚ my personal defects aside‚ the question is far more difficult than it first appears. For one thing‚ we should
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Is Outsourcing a Wise Corporate Strategy? YES: BusinessWeek‚ from “The Future of Outsourcing‚” Business- Week Special Report: Outsourcing ( January 30‚ 2006)‚ http://www .businessweek.com/magazine/content/06_05/b3969401.htm NO: Ephraim Schwartz‚ from “Painful Lessons from IT Outsourcing Gone Bad‚” InfoWorld.com (August 25‚ 2008)‚ http://www.infoworld .com/d/adventures-in-it/painful-lessons-it-outsourcing-gone-bad-032 ISSUE SUMMARY YES: BusinessWeek writers argue that outsourcing is likely
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1. What are the benefits and costs to US companies from outsourcing? The benefits for US companies are cheaper wages and workers. This allows US companies to function at all hours of the day as well‚ when someone from India will be on call 24/7 a day. Lower the US Company’s bottom line is always number one here and if they can get the same service in India as they do in US at half the cost‚ anyone would take that chance. With technology advancing so rapidly US companies have found a way to become
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