Chapter 1 1. Operation Management: administration of business practices to create the highest level of efficiency possible within an organization a. Concerned with converting materials and labor into goods/services as efficiently as possible to maximize profit of organization 2. Why Study OM? a. One of he three major functions -> marketing/finance/operations b. Want & Need to know how goods/services are produced c. Understand what operations managers do d. Costly part of organization
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Final Exam Study Guide Paragraph 1- Module 1A on Psychology Perspectives and Ethics in Research In this module I had been taught the different Psychologists who came up with many different research experiments to educate students like myself today. Abraham Maslow believed that every human being desired fulfillment of needs such as being fed‚ nourished‚ warm‚ and secure; how we can be self-actualization and be who we want to be. There are five different approaches that he/she can come across. Behavioral
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Process Design and Matrix Summary Shantelle M. Belk OPS/571 June 15‚ 2015 Abdoulaye Keita Process Design and Matrix Summary This executive summary will be used to outline the design approach for Sports Clips Haircuts. In this summary the details that will be provided cover the process design approach‚ the production line‚ in addition to any personal attention approaches located within the process design matrix. Sports Clips Haircuts is a company that prides itself on the exceptional quality of customer
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Riordan Manufacturing Production Plan Pedro A Rios Jr.‚ Nelson Christensen‚ Teresa Swander‚ Chrystal Marcum and Kapricia Crosby University of Phoenix Operations Management OPS 571 Ashley Carr January 10‚ 2011 Riordan Production Plan Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. Riordan’s main customers range from automotive parts manufacturers to the Department of Defense. One of Riordan’s main productions
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MBA/503 Final Exam Name:__________________ 1. An item which may be converted to cash within one year or one operating cycle of the firm is classified as a A) current liability. B) long-term asset. (correct) C) current asset. D) long-term liability. 2. Which account represents the cumulative earnings of the firm since its formation‚ minus dividends paid? A) Paid-in capital B) Common stock C) Retained
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2012 Exam Question Answer Q1. Marketing can be defined as an organization function and a set of process foe creating‚ communicating and delivering value to the customer and for managing customer relationship in a way that it benefits the organization and its stakeholders. In order to understand the marketplace and customer needs and wants‚ marketers need to identify the needs of the consumer‚ which is defined as the state of felt deprivation‚ such as hunger and self-actualization needs.
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PART I MULTIPLE CHOICE QUESTIONS Use the following information for questions 1-4: Seasons Construction is constructing an office building under contract for Cannon Company. The contract calls for progress billings and payments of $1‚240‚000 each quarter. The total contract price is $14‚880‚000 and Seasons estimates total costs of $14‚200‚000. Seasons estimates that the building will take 3 years to complete‚ and commences construction on January 2‚ 2014. 1. At December 31‚ 2014‚ Seasons estimates
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QUESTION AND ANSWER ON MARKET SEGMENTATION Salim Brommer is the Marketing Director of Ashkol Furniture Supplies‚ a medium-sized company which specializes in manufacturing office furniture. The company makes its products in India‚ so benefiting from relatively low labour costs. However‚ it has recently experienced intense competition from suppliers who have even lower cost bases. Salim has decided that his company will benefit if he focuses on those customers who can provide higher profit margins
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MGMT102 Business Communication Autumn 2013 MGMT102 Business Communication Final exam sample questions: Briefly describe any one of the communication models discussed in the textbook and/or lecture. Describe three of the tests you can use to enable ethical decision‐making. 1 2 3 What is the role of ‘I’ statements in the communication process? Illustrate with an example. 4 Identify and explain the three techniques of persuasion as outlined in the textbook
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Place your answer on the answer sheet. There are 50 questions‚ each worth 2 points. 1) In 1985‚ Alice paid $20‚000 for an option to purchase ten acres of land. By paying the $20‚000‚ she bought the right to buy the land for $100‚000 in 1992. When she acquired the option in 1985‚ the land was worth $120‚000. In 1992‚ it is worth $110‚000. Should Alice exercise the option and pay $100‚000 for the land? A) Yes. B) No. C) It depends on what the rate of inflation was between 1985 and 1992
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