$1600 higher than the Lexus. Assume (i) the average cost of premium gasolene to be $3.00 per gallon (ii) the average cost of diesel to be $3.25 per gallon (ii) the average customer drives 12000 miles per year and (iii) there is no time discount. What should be the price of the CDL such that the economic value of Benz CDL over Lexus GL (during a 10 year use horizon by a customer) is completely appropriated by Mercedes Benz? The economic value of CDL: Price of substitute=48000 Cost saving=(12000/20*3-12000/25*3
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Production & Operations Management What is operation management? What is the role of the Operation Manager? Set of activities that create value in the form of goods and services by transforming inputs into outputs. The role of an operation manager is to design and manage the daily operations and activities in a way that the productivity of the employees raises. It is also their responsibility to ensure that the physical and the human resources of the organization are achieved. He
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The thunderbird was the lamborghini of its time. Thunderbirds were big and successful and were very popular in the 60’s. They also‚ the thunderbirds were known as a good mixed car but also a big fast sports car. The Thunderbirds were a huge car in the 60’s‚ because they weren’t just a nice car‚ it also wasn’t a very expensive car to purchase. In addition it was also a way for other car companies to want to build their cars‚ and set the trend for other companies. The 4th generation Thunderbird was
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HARPO Productions Inc. is a privately held company and it was founded by Oprah Winfrey and her lawyer Jeff Jacobs in 1986; a production company that used her first name spelled backwards. In 1988‚ the company took full charge of Winfrey’s show. It also includes HARPO Films and HARPO Radio‚ Inc. The facilities are on the city’s Near West Side neighborhood of Chicago and with additional offices in Los Angeles. In 1990s‚ “This Company had annual revenues of about $150 million with the number employees
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P5: Describe the importance of training in an organisation you know Once the staffs have been recruited they need to know how to do their job. The main point of training is to make staff better at their job. Staff who are good at their jobs are generally better motivated. As staffs learn new skill through training‚ they may be promoted to jobs higher up in the business. The extra pay and responsibility that came with a promotion are often good for staff motivation. Training can also help staff
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THE DEFINITIONS "Operations management (OM) is defined as the design‚ operation‚ and improvement of the systems that create and deliver the firm’s primary products and services. Like marketing and finance‚ OM is a functional field of business with clear line management responsibilities." (Chase‚ Jacobs‚ Aquilano‚ 2006:9) "Operations management is the management of processes or systems that create goods and/or provide services. It encompasses forecasting‚ capacity planning‚ scheduling‚ managing
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Company Perspectives : - “Virgin is about doing things that really work‚ not just looking the parts. We are passionate about running our businesses as well as we can‚ which means treating our customers with respects‚ giving them good value and high quality and making the whole process as much fun as it can be.”—Richard Branson‚ Chairman History - Virgin Group is diversified grouping of more than 200 privately held companies. It included Virgin Atlantic Airways‚ Virgin Holidays‚ Virgin
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INTRODUCTION TO PRODUCTION AND OPERATIONS MANAGEMENT Content of module: Introduction to production and operations management‚ definition of ‘production’ and ‘operations’ management‚ meaning‚ scope and history of evolution. INTRODUCTION TO PRODUCTION AND OPERATIONS MANAGEMENT Production is the process by which raw materials and other inputs are converted into finished products. Production and operations management (POM) is the management of an organization’s production system. A production system takes
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------------------------------------------------- The Production/Operations Function In Business A. True/False 1. Production/operations Management refers to creation of goods whereas production refers to the creation of services. 2. All organisations‚ including service organizations such as banks and educational institutions‚ have a production function. 3. Production is a creation of goods and services. 4. W. Edwards
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Should We Abandon Louisiana explains the disdain that the people of Louisiana feel towards media coverage‚ the rest of America‚ as well as for relief agencies and their lack of contribution towards the rebuilding of the state after natural disasters. The author states multiple times that due to media outlets not covering the flooding of his state‚ many Americans did not know about the natural disaster. The people of Louisiana feel that because of natural disasters occurring frequently‚ cable news
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