or more regions‚ countries and nations beyond their political boundaries. Usually‚ private companies undertake such transactions for profit; governments undertake them for profit and for political reasons. It refers to all those business activities which involve cross border transactions of goods‚
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Operations management focuses on managing the processes of producing and distributing products and services. Operations activities often include product creation‚ development‚ production and distribution. It deals with all operations within the organization. Related activities include managing purchases‚ inventory control‚ quality control‚ storage‚ logistics and evaluations. The nature of how operations management is carried out in an organization depends very much on the nature of products or services
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capital‚ management 5. Which appears to provide the best opportunity for increases in productivity? Answer: c. Management 6. When returns to labor capital or management are increased w/o increased productivity‚ prices: Answer: a. Rise 7. Problems in the measurement of productivity include: Answer: d. All of the above 8. The person who introduced standardized‚ interchangeable parts was: Answer: a. Eli Whitney Discussion Questions 1. Why should one study operation management? Answer:
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COST DEFINITIONS Fixed Cost – expenses that remain constant over a wide range of output volumes Variable Costs – expenses that vary proportionately with changes in output. Sunk Costs – expenses already incurred that have no salvage value Opportunity Costs – profits lost when one alternative is chosen over another that would have provided greater financial benefits. Avoidable Costs – expenses resulting from poor productivity incurred if an investment is not made. Out-of-Pocket Costs – actual
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Operation Shoestring was founded in 1968 to help break the racial tension that was going on in Jackson‚ Mississippi. It is an year-round academic and social support program for elementary through high school students to ensure educational success that also provides resources to families. Their staff is filled with certified teachers‚ volunteers‚ and community partners to ensure the success and emotional support to each child in their program. People from all over central Mississippi come to this
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Woolworth levels of operation and mechanisation Level of operations refers to the scale of food production and the amount of sophistication of the technology used. The various levels of operation and mechanisation include household‚ small business‚ large company and multinational. Woolworths is a large company. A large company is characterised by a range of stores across Australia‚ large scale food production and selling‚ stores including industrial equipment‚ high turnover and a large number
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Operation management can be summarized as techniques for restructuring the infrastructure to gain a competitive advantage to optimize decisions and processes utilized in business practices. Operation management gives the managers a systematic way to enhance their day to day processes and assist in maximizing revenues. One of the key objectives practiced by an OM manager is making ethical decisions during the planning‚ reviewing‚ and implementation stages of new processes. This paper will briefly
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maintenance will be performed by employees" X "on the company leased facilities in each airport served. At each site‚ we will keep a list of tools and parts. The new company believes that in today’s regulatory environment is necessary and reasonable to carry out regular maintenance "within the company." Periodic "C-checks" and overhaul along with major operations in the framework of maintenance will be carried out by employees of a company for maintenance and repair. Many carriers in the aviation industry
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Operation Flood was a rural development programme started by India’s National Dairy Development Board (NDDB) in 1970. One of the largest of its kind‚ the programme objective was to create a nationwide milk grid. It resulted in making India the largest producer of milk and milk products‚ and hence is also called the White Revolution of India. It also helped reduce malpractices by milk traders and merchants. This revolution followed the Indian Green Revolution and helped in alleviating poverty and
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Operation management Nike’s Operations management concerned about forecasting‚ controlling‚ designing‚ operating‚ and scheduling business operations in the production of Nike foot ware. Its excellent management that has been developed and ameliorated during the long term operation has enabled that business operations to be efficient and at the same time using as few resources as required. It is also effective in terms of satisfying customer demands‚ and thus it has become one of the key issue
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