[pic] Course: Advance diploma in Business Management Module: Production & Operations Management Date:2013.08.06 Name of lecturer: Daniel Chew The following examples show different products and services working by different model to achieve different customers’ satisfactions. Two products examples and two service examples will be included. Product 1: 5Ps Framework of O.M. is used in the electronic devices company‚ Apple. Apple: Apple Computer‚ Inc.‚ is a famous
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There is a very famous saying by Benjamin Franklin‚ “If you fail to plan‚ you are planning to fail”. Strategic Operations Management acts on this by giving the organization a sense of direction‚ motivation and unity among people in working towards the overall mission and vision. In this paper‚ the aim will be to find out if strategic operations management is important for an organizations overall development. The answer can be a “yes” or a “no” depending on how one perceives the issue and understands
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resource wastage. Naukowe and MIkolaja(2015) stated that "Management by objective (MBO) is the method by outlining goals for every person and department and use them to monitor progress towards their goals." Peter Drucker first described MBO in his book "the practice of management" in 1954. It works in 4 steps. First‚ set goals for corporate strategic‚ departmental and individual. At this stage‚ all team of employees is involved in to make effective goals and assign the goal to different responsibility
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produce 30‚000 good T-shirts per month. Their plant operates 200 hours per month‚ but the new machines will be used for T-shirts only 60 percent of the time and the output usually includes 5 percent that are "seconds" and unusable. The stamping operation takes 1 minute per T-shirt‚ and the stamping machines are expected to have 90 percent efficiency considering adjustments‚ changeover of patterns‚ and unavoidable downtime. How many stamping machines are required? Target stamping-30000nos limting
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FINANCIAL MANAGEMENT The main objectives of financial management are:- 1. Profit maximization : The main objective of financial management is profit maximization. The finance manager tries to earn maximum profits for the company in the short-term and the long-term. He cannot guarantee profits in the long term because of business uncertainties. However‚ a company can earn maximum profits even in the long-term‚ if:- i. The Finance manager takes proper financial decisions. ii. He uses the finance
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Markets Motorcycles: Overall Two-wheeler sales of Indian players is dominated by the domestic market and‚ within it‚ by motorcycles. After growing at a sharp clip from the late 1990s‚ motorcycle sales witnessed a 7.8% drop in volume in 2007-08‚ due to falling domestic demand as a result of rising interest rates and many private sector banks reducing their retail lending exposures. 2008-09 saw a modest increase in motorcycle sales of 4%‚ driven largely by growth in cash sales. Even so‚ sales of
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MKT B370 Operations Management SPECIMEN EXAMINATION PAPER Important Note: This specimen examination paper serves solely as an illustration of the types of questions which may be contained in the examination. Students should not construe these questions as the actual examination questions nor part of the actual examination paper. In addition‚ this specimen examination paper does not purport to represent the complete scope or coverage of the course and the distribution of the topics to be examined
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Achieving Individual Excellence Wendy Barker BSHS 461 November 15‚ 2012 Maren Alitagtag Achieving Individual Excellence Individual excellence is pushing yourself to surpass other’s expectations and excel in everything you do. Individual traits‚ ethics‚ values‚ experiences‚ and individual performance help develop and define a person’s individual excellence on a personal and professional level. Individual excellence will lead a person to be a better leader‚ manager‚ supervisor‚ and a better
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MGMT 405 Operations and Production Management Answer set 2 (Reference chapter 2 – William J. Stevenson-2007‚ ninth edition) Problems and Solutions 1. Suppose that a company produced 300 standard bookcases last week using eight workers and produced 240 standard bookcases this week using six workers. In which was productivity higher? Explain. Ans: Productivitylast week = standard bookcases produced as output / labor= 300/8= 37.8 sbc/worker Productivity this week = standard bookcases produced
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University of Phoenix Material Effective Time Management Managing Time • How much time do you have? • What are your goals? • What are your priorities? • Do you have a schedule? • Do you use a planner? • Do you stick to your plans? • Are you always on time? • Do you put things off? How much time do you have? • There are 168 hours in every week. • Make a list of everything to do. • Figure out how much time it takes to do each item. • Add the times. • If you have more than
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