MAKE OR BUY? – THE CHOICES When firms face a “make-or-buy” decision‚ it means that they have to choose whether to insource a particular production process or service or to outsource it to a third party. The word “insourcing” stems from the union of the words “inside resource using” and indicates the “use of internal labor‚ personnel and resources to supply the operational needs of the enterprise” . A firm can decide either to insource –i.e. to produce in-house- a production process or a service
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Assignment 1: Make-or-Buy Decision Analysis Jacqueline M. Oxendine PMAN 641 – Project Procurement Management Professor Randall Napier University of Maryland University College February 13‚ 2011 Table of Contents Introduction 3 Methods of Make-or-Buy Decision Analysis 3 Hurdles to Overcome in the Make-or-Buy Decision-Making Process 9 Conclusion 11 References 12 Assignment #1: Make-or-Buy Decision Analysis All projects involve the need to determine whether the project work
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Module 2: Exercise #3 – Happyland Construction Happyland Construction Inc. is an engineering firm involved in design and construction of oil shale plants. With their growing operations‚ Happyland needs to invest on a new crane (GargantuLift 6000) to be used on site. After financially analyzing their options‚ Happyland is left with a decision whether to outsource with a supplier or produce in-house. Below are the analysis done to compare both options: Make Analysis Internal Time & Effort -
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in this fast moving economy‚ the link between product and service have become ever more important. However‚ in order to produce the product and services that a firm is to offer to their customers‚ the must first look at their production process. To make the products in-house‚ or to outsource their production to other companies‚ in the quest to be more profitable and efficient in the delivery of their products and services has become a question in all management’s agenda to move their firms global
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Apple’s Make-vs.-Buy Decision Apple’s best approach regarding hiring employees for their top technology or engineering positions would be private employment agencies. Since there is a huge secrecy that surrounds Apple’s products‚ employment agents have the ability to bring in the right fit candidates for Apple’s top positions. In regards to Apple’s entry level positions‚ recruiting at Colleges and Universities would be an successful and inexpensive tactic. Apple is a company which will
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Apple’s Make-vs.-Buy Decision Recruitment Approaches for Apple Apple would be best served with sourcing recruitment efforts from private employment agencies for their top technology or engineering positions. Considering the secrecy that surrounds Apple products‚ head hunters would be able to source out potential right fit candidates for Apple’s top positions. For their more entry level tiers‚ recruitment efforts at Colleges and Universities would be an effective
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Executive Summary This paper explores one of the fundamental processes in most businesses‚ the make-or-buy decision. This research scrutinizes the theory related to the make-or-by decision‚ its importance in businesses strategy‚ criterions to be considered in the process as well as its advantages and disadvantages. Further investigation conducted revealed the reality of make-or-buy decision and it was found that decision makers rarely apply strategic decision making rules based on sound reasons
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What Makes Me Want to Buy Something . People often buy a lot of things daily . They sometimes don’t know why they want to buy something ‚ but they say it depends on their needs . However ‚ some people buy products for no reason . There are many factors that can affect people’s mind and make them want to buy a certain product . The most important is advertising which plays a vital role in convincing people to buy something . I myself buy products which can grab my attention through
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their purpose‚ which is to influence the consumer into buying their product. Cell phones ads are very convincing in that they can get any of its viewers to buy their product and get them involved within their plan. This step is done by using one of the aspects and that is ethos. In order for these companies to get the consumer to buy this product‚ they have to be credible. Credibility is the most important aspect of these types of businesses because that is how their products are sold. Most
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Dr. Tim Brueggemann MBA54001OL 8 July 2011 Case: A Make or Buy Decision at Baxter Manufacturing Company Situation Baxter Manufacturing Company is trying to decide whether or not to buy a new software program. The problem is they are afraid to buy this new program because of their past experience. Now‚ they are in a dilemma because they know they have learned from the mistakes they made before so they might b successful this time. The decision will be taken after talking to their people. They
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