Assignment 1: Operation Decision Assume you have been hired as a managing consultant by a company to offer some advice that will help it make a decision as to whether it should shut down completely or continue its operations. It currently uses 100 workers to produce 6‚000 units of output per month (working 20 days / month). The daily wage (per worker) is $70‚ and the price of the firm’s output is $32. The cost of other variable inputs is $2‚000 per day. It also tells us that the firm’s fixed cost
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International Journal of Heat and mass Transfer‚ Vol. 54 (2011) 2602-2608. M. J. Peet ‚ H. S. Hasan and H. K. D. H. Bhadeshia1 Published in the International Journal of Heat and Mass Transfer Vol. 54 (2011) page 2602-2608 doi:10.1016/j.ijheatmasstransfer.2011.01.025 Abstract A model of thermal conductivity as a function of temperature and steel composition has been produced using a neural network technique based upon a Bayesian statistics framework. The model allows the estimation of conductivity
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Manager: A form of work that involves coordinating an organization’s human‚ financial‚ physical and information resources toward accomplishing organizational objectives. Attainment of organizational goals in an effective and efficient manner through planning‚ organizing‚ leading and controlling organizational resources. NOTE THESE CHARACTERISTICS: Goal-driven Activity is effective and efficient Uses the four managerial functions What is Management? A set of activities planning and
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of performance as follows: COP = qL TL = w TH − TL (1) Which comes from the fact that w = qH − qL (first law) and qL = TL Δs ‚ qH = TH Δs (second law). Note that w is also given by the area of the rectangle. Temperature differences make the COP vary. For example‚ the next figure shows how COP varies with TL (TH is ambient in this case) and the temperature difference in exchangers. 56 Figure 2: COP changes with heat exchanger temperature approximation and TL (TH=ambient) We
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Q: 3 (A) What factors must a firm consider while addressing the make or buy decision? Ans: International Operations management and corporate strategy: Operations management of an International business needs to be integrated with the firm’s corporate strategy. The central role of operations management is to create the potential for achieving superior value for the firm. If operations management takes Rs. 100 worth of inputs and brings out product worth Rs. 150‚ it has crated considerable value
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think farther. Therefore‚ they always make decisions for their teenage children. This may affect teenagers’ futures because they will become dependent on their parents and they will not be able to make their own decisions correctly. They will neither have their own goals nor ambitions because everything in their lives is made up and decided by their parents. They end up not knowing how to deal with responsibilities as they grow up. They will not have proper decision making skills because their parents
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Assignment 2 "Operations Decision" Assume you have been hired as a managing consultant by a company to offer some advice that will help it make a decision as to whether it should shut down completely or continue its operations. It currently uses 100 workers to produce 6‚000 units of output per month (working 20 days / month). The daily wage (per worker) is $70‚ and the price of the firm’s output is $32. The cost of other variable inputs is $2‚000 per day. You are told that the firm’s fixed cost
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Executive summary Manager takes a very important role in every company‚ a good manager would lead company to a brighter future. The aim of this report is to show readers about an interview of a successful manager with her ways of doing thing in her daily life and our findings and analysis from the interview. The manager who we have interviewed is Miss VniTey. Miss VniTey had worked as a manager in a furniture company for 6 years time and worked in Singapore. We had classified the content of interview
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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 resulting in unpremeditated and
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Challenges of Operation Manager There are many challenges faced by operation managers in the field of operation management. Operation managers should equip him or her with varies issues and knowledge cross all the business function‚ not just the operation. To be a good operation manager‚ they must be able to understand the whole business flows‚ the products‚ the customers‚ the operation‚ the people and the technology. Understanding of various issue can made them deal better with various support
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