low price had released the potential of the watch to become a fashion accessory. Swatch’s operations reaped the benefits of high volume‚ but had to cope with an everincreasing variety of product designs. Through automation and rigid standardisation of the internal mechanism of the watch‚ the company managed this increase in variety without crippling its costs. It is the success of the company’s operations managers in keeping their costs low (direct labour cost is less than seven per cent of the
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Project Management Body Of Knowledge (PMBOK®) Guide – 5th Edition February 21‚ 2013 1 PMBOK 4th Edition PMBOK 5th Edition Released in 2008 Released in 2013 5 Process Groups 5 Process Groups 9 Knowledge Areas 10 Knowledge Areas 42 Processes 47 Processes PMBOK 5th Edition 2 PMBOK 4th Edition PMBOK 5th Edition • Integration Management • Scope Management • Time Management • Cost Management • Quality Management • Human Resources Management • Communications Management • Risk Management
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QUANTITATIVE MODULE Decision-Making Tools Discussion Questions 1. The 6 steps of the decision process are: 1. Clearly define the problem and the factors that influence it. 2. Develop specific and measurable objectives. 3. Develop a model. 4. Evaluate each alternative solution. 5. Select the best alternative. 6. Implement the solution. 2. The purpose of this question is to make students use a personal experience to distinguish between good and bad decisions. A “good”
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Summary 1 Name of the book: Operations management for competitive advantage 11th edition. Section# 1: Operations Strategy and Managing Change Chapter# 2: Operations Strategy and Competitiveness The first section of this chapter explains the meaning of operations strategy. It includes a brief introduction to operations strategy with a historical example about the scenario of the post-World War II era. The second section is divided into three sub-sections: competitive dimensions‚ the notion
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prospect’s business associates: * Banker * Legal counsel * Underwriter * Other persons‚ e.g.‚ customers‚ suppliers Predecessor auditor‚ if any‚ communication‚ re: integrity of management‚ disagreements with management Analysis: * Special or unusual risk related to the prospect * Need for special skills (e.g.‚ computer or industry expertise) Internal search for relationships that would compromise independence
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CHAPTER 1 Operations management Short case: Dealing with variety – two examples The Bombay Tiffin Box Suppliers Association (TBSA) operates a service to transport home-cooked food from workers’ homes to office locations in downtown Bombay. Workers from residential districts must ride commuter trains some 30–40 km to work. Typically‚ they are conservative diners‚ and are also constrained by strong cultural taboos on food handling by caste‚ which discourage eating out. TBSA arranges for food
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like two separate activities. Small changes in the design of products and services can have profound implications for the way the operation eventually has to produce them. What objectives should process design have? The point of process design is to make sure that the performance of the process is appropriate for whatever it is trying to achieve. Operations performance objectives translate directly to process design objectives but process design also need to consider a more ‘micro’ and detailed
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TABLE OF CONTENTS 1. OPERATION MANAGEMENT 3 1.1. DEFINITION OF OPERATION MANAGEMENT 3 1.2. THE ROLE OF OPERATION MANAGER 3 1.3. RELATIONSHIP OF OPERATION MANAGEMENT WITH OTHER CORE FUNCTIONS 3 2. CASE STUDIES 3 2.1. HEATHROW INTERNATIONAL AIRPORT 3 2.2. NESTLÉ UK CHOCOLATE FACTORY 3 3. MAJOR UNDERSTANDINGS OF THE STUDY 3 4. CONCLUSIONS 3 REFERENCES 3 1. Operation Management For the success of an organization‚ the management crew plays a major role. An organizational structure is based on different
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information from http://www.researchandmarkets.com/reports/561970/ Management‚ 9th Edition Description: Management 9e‚ by John Schermerhorn‚ is based on constructive balances that are essential for success in business and management: the balance of managerial theory and practice; the balance of managerial ethics and positive action; and the balance of present realities with future possibilities. In this new edition‚Management‚ 9e has been extensively revised with a sincere commitment to help instructors
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Budgetary slack Budgetary slack refers to the deliberate adjustment of additional cash outlays in expectation of future cash flow. The people involved in creating a budget intentionally underestimate the amount of revenue or overestimate the amount of expenses. For example‚ if a plant manager believes that the cost of raw materials will be RM250‚000 but gives a budgetary projection of RM300‚000‚ the manager has built in RM50‚000 of slack into the budget. Budgetary slack is most common when a company
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