...exciting – It is at the center of so many changes affecting the business world OM is challenging – Promoting the creativity which will allow organizations to respond to so many changes is becoming the prime task of operations managers IM56_2014_JH 3 Content The concepts global operations management Structuring global operations process networks (= supply/demand chains) Design of inter-organizational relationships and business processes Operations management information systems Operations philosophies (JIT, TQM, BPR) Product Design Project Management Performance measurement of OM 4 IM56_2014_JH Course Material Paton, S., Clegg, B., Hsuan, J. and Pilkington, A. (2011) Operations Management. 1st Edition. McGraw-Hill. & Additional literature IM56_2014_JH 5 Synopsis-exam ... What does CBSstudy handbook say to that. The synopsis exam is a form of oral defense. At the exam, the student must demonstrate a comprehensive knowledge and understanding of topics, theories, methods and models that are covered in the course. starting point in a shorter written paper (normally focusing on a selected area of a larger syllabus) that the students write and submit in about 3 weeks prior to the oral exam. It differs from traditional oral exams by taking its IM56_2014_JH 6 Exam Individual oral exam based on a synopsis: ● 20 minutes per student Synopsis requirements: ● Maximum...
Words: 1077 - Pages: 5
...Starbucks’ Target Market Abstract/Synopsis Perhaps the most important task for marketing is identifying the consumer base. This is done through market segmentation or STP analysis. Being people oriented is essential because developing long time relationships is what drives successful businesses. Understanding who it is that a company is trying to reach is essential as not everyone is interested in every product or service (Grewal, p.245). While there are many ways to establish a segmenting strategy, as outlined by Grewal and Levy, depending on the company’s unique product line or service, there may be a variety of viable strategies to consider. Starbucks has been successful in part because of their ability to identify who their majority of consumers is, with relation to demographic and psychograpic segmentation, and worked to target those types of individuals in an effort to establish long term relationships. Primary Target Market To identify Starbucks’ target audience for their brand-name, high quality coffee roast, one may look at the demographic distribution of Starbucks consumption. One important demographic-segmentation characterizing within a company’s consumer base is customer income. When a company produces a product, they must market the product price in accordance with their target audience (Grewal, p250). Porsche for example would not market their automobiles on billboards in low-income neighborhoods, because their target audience has to be able to afford...
Words: 1258 - Pages: 6
...importantly they live their lives in a “just do it” mentality. Yet even further social institutions that affiliate around the Nike lifestyle tend to have this same sense of rationalization. However, Nike is a brand that has had a small influence on those who are the brands consumer, when compared to some larger more influential brands. Yet there is one brand, with high global reach that triumphs all brands. This brand is the largest fast-food chain worldwide and the most influential brand in North Americans particularly; this brand is of course McDonalds. In The McDonaldization Thesis: Is Expansion Inevitable written by George Ritzer, Ritzer reveals that on a global scale the brand personality and characteristics of this number one fast-food chain has been instilled into many cultures, and has affected the traditional ways of life. This McDonaldization theory strongly shows that society is using the same standards and characteristics that McDonalds hold when rationalizing aspects in their lives. North Americans are “McDonaldizing” some of the most important life-changing events of...
Words: 5455 - Pages: 22
...McDonald’s: From Big Mac to P’tit Plaisir Case Synopsis McDonald’s as we know is the biggest multinational-corporation in fast-food industry. McDonald’s is a symbol of American power and hegemony just like Coca Cola and Nike which its operations is all around the world. And how McDonald’s could successfully entering global markets ? the key components is its standardization in all McDonald’s outlets in the world known as QSC&V (Quality, Service, Cleanliness, Value). You can see and feel the same burger quality, same fast service, cleanliness of restroom and the same price in all McDonald’s outlets in every country. McDonald’s also made a strong relationship with supplier because this is another key success, every supplier which supply all McDonald’s products have to comply with McDonald’s standard or specification. McDonald’s also give reward for every supplier that achieve its specification process. And the most important thing that made McDonald’s globally success in entering every country is Plan to Win Strategy, this strategy actually bring McDonald’s products to become more relevant to local and regional preferences. In France, McDonald’s referred as McDo and every products in France is environmental friendly and based on local resources. Menu also different, its have P’tit Plaisir (mini snack foods), Little Mozza (tomato and mozzarella salad), Croques Monsieurs (Grilled Ham and Cheese) etc. In the US McDonald’s is food to go orders but in France is dine in because people...
Words: 2336 - Pages: 10
...Starbucks Financial Accounting for Managers ACC556 May 18, 2015 Financial Tools Liquidity, Solvency, and Profitability The company chosen for the investment analysis is Starbucks Corporation. Starbucks offers some of the world’s finest fresh-roasted whole bean coffees. It was incorporated in Seattle Washington in 1985. Starbucks has continued to advance in the coffee industry over the years; but is classified as an eating place. In 2014 the corporation reported its annual revenue as 16,447,800 (Starbucks Corp, 2014). Starbucks financial health is evaluated using the tools of liquidity, solvency, and profitability. Liquidity refers to the company’s ability to pay short term obligations. There are two ratios that are most commonly used to evaluate this is the current and quick ratios. Starbucks 2014 current ratio is 1.37 and the quick ratio is .81. Next analysis examined for the company is solvency; this refers to the corporation’s capacity to meet its long-term financial commitments. The ratios typically used to evaluate solvency are debt to equity and debt to assets. Starbucks 2014 debt to equity ratio is .39 and the debt to assets ratio is .19. Finally, the profitability ratio was evaluated for Starbucks. Profitability is the assessment of the business’s ability to generate earnings as compared to its expenses and other relevant costs incurred during a specific time period. There are five ratios evaluated for Starbucks in 2014; profit margin, gross margin...
Words: 1363 - Pages: 6
...International Operations Synopsis In 1971 Jerry Baldwin, Zev Siegl, and Gordon Bowker started a coffee bean retailer store named Starbucks and sold specialty whole-bean coffee in Seattle, WA. Ten years later they had increased to their stores to five, they had also opened a small roasting facility. A man with the last name Schultz was so impressed by the Starbucks Company and he was offered a job as their marketing manager. The turning point of the company came when Shultz returned from a housewares show in Milan, Italy where he observed that every coffee house there sold espresso. Shultz came back to the company and thought it would be a good idea if Starbucks started selling espresso and other beverages instead of just the coffee beans. At first the owners did not like this idea, but after a lot of persuasion, they agreed. By the end of the first weekend they made more money selling the beverages than they did the coffee beans. Shultz quit the company after the owners refused to continue selling the beverages. Shultz opened his own coffee bar and named it Il Giornale. Two years later he found out that Starbucks was selling off six stores and their roasting company. Shultz knew this would be a great opportunity that he could not pass up and so he raised $3.8 million and bought it. Since Starbucks was already an established name he changed the name of his other coffee bars too. After huge losses at first, Shultz continued with his business plan and kept expanding. By...
Words: 2415 - Pages: 10
...McDonalds Case Analysis Chandra Stevens Manda Roth Erica Jones Kaitlin Vincent Carole Hockeborn Ferris State University Table of Contents Abstract 4 Introduction 5 Situational Analysis 7 Demographics 7 Socio-Cultural 7 Political-Legal 8 Technology/Industrial 8 Economic 9 Global 9 S.W.O.T. Analysis 10 Strengths 11 Weaknesses 12 Opportunities 12 Threats 14 T.O.W.S. Analysis 15 External Strengths/Internal Opportunities 16 External Weaknesses/Internal Opportunities 16 External Strengths/Internal Threats 16 External Weaknesses/Internal Threats 16 Porter’s Five Forces 17 Threat of New Entrants 18 Bargaining Power of Suppliers 18 Bargaining Power of Buyers 19 Rivalry Amongst Existing Firms 19 Threat of Substitute Products or Services 19 Financial Ratios 20 Liquidity Ratio: Cash Ratio 21 Debt Management Ratio: Total debt Ratio 22 Profitability Ratio: Profit Margin 22 Balanced Scorecard 23 Balanced Scorecard Diagram 27 Strategy Formulation 28 Plan of Action and Recommendation 31 Highlights From This Year 31 Budget and Time Line Expectations Summary 31 Citations 33 Abstract This report reviews the McDonald’s corporation profile to include; an introduction to corporate history a time menu and current franchise information. The strategic Profile will provide a complete analysis of economic, socio-cultural, technology and global synopsis...
Words: 6935 - Pages: 28
...Teaching Note: Case 14 – McDonald’s Case Objectives 1. To investigate the key external environmental issues that can affect a firm’s strategy. 2. To examine how a reevaluation of strategy involves assessment of internal activities and resources. 3. To discuss the decisions and actions that a firm has to undertake to sustain a competitive advantage, especially when pursuing growth. See the table below to determine where to use this case: |Chapter Use |Key Concepts |Additional Readings or Exercises | |1: Strategy Concept |Strategic management; vision, mission, strategic |Visit McDonald’s website to evaluate its mission.| | |objectives |See an embedded video of a 1967 McDonald’s TV | | | |commercial. | |2: External Environment |External environmental forces; Porter’s five forces |Visit investor commentary on MCD, view embedded | | |model |video about current coffee strategy; read about | | | |healthy foods controversy, watch video re | | | ...
Words: 4915 - Pages: 20
...Course Syllabus Course Name: Business Law Course Number: BUS/415 Group Number: SWFOUN86 Course Start Date: 5/14/2012 Course End Date: 6/18/2012 Day & Time: Monday, 6:00pm PST Course Schedule________________________________________________________ Workshop 1 – May 14, 2012 Workshop 2 – May 21, 2012 Workshop 3 – June 4, 2012 Workshop 4 – June 11, 2012 Workshop 5 – June 18, 2012 Course Description This course examines, analyzes, and applies to the morn business environment the nature, formation and system of law in the United States. Course Topics & Objectives 1. Legal Environment Explain the relationship between business and the legal environment. Evaluate the social responsibility of business practices. Describe the stages of a civil case. 2. Torts Assess business situations for tort liability and defenses. 3. Contracts and Commerce Describe the elements of a valid contract. Explain the application of the Uniform Commercial Code to commercial transactions. Differentiate between types of interests in property. 4. Business Organizations Differentiate business entities by their advantages and disadvantages. Explain the actions which may result in the piercing of the corporate veil. Describe the formation and dissolution of a corporation. 5. Employment Law Government Regulation Describe the evolution of employment law. Explain government regulation of employer-employee relationships...
Words: 4940 - Pages: 20
...OPERATIONS MANAGEMENT OF : | McDonald’s Restaurant | | This documentation of research looks into the operation management of McDonald’s restaurant under the grounds of Quality, Inventory and Capacity management. This report has been prepared for the purpose of International Operation Management module for MBA program of ANGLIA RUSKIN UNIVERSITY. | | 0977106/1 137068/268400 | 4/14/2011 | | LONDON COLLEGE OF ACCOUNTANCY INTERNATIONAL OPERATIONS MANAGEMENT PREPARED BY: LCA STUDENT NUMBER: 137068/268400 ARU STUDENT NUMBER: 0977106/1 WORDS IN TOTAL: 3847/4338 Table of contents: 1. Introduction........................................................................4 1.1 Case Introduction.....................................................................4 1.2 Introduction of the company...................................................5 1.2.1 Brief Introduction of raw product...........................................7 2. Product Design process....................................................8 2.1 Filet-O-Fish: - History of its own............................................10 3. Capacity and Inventory management issues..............12 3.1 Inventory management for filet-o-fish in McDonald’s...........13 4. Quality Management........................................................14 4.1 Total Quality Management.....................
Words: 4578 - Pages: 19
...Panera Bread Case Study MGMT 1/30/16 Synopsis Panera Bread is a company well known for their healthy, sophisticated, all natural breads and sandwiches. The restaurant focused on the consumer that was tired of the everyday burger and fries that other fast food restaurants relied upon for majority of their sales. Customers gladly paid well over five dollars a sandwich for that homemade taste that Panera was known for and built their reputation upon. Panera Bread strives for excellence in their operations as well as their menu. Ronald Shaich’s vision was to have a profitable company without cutting corners on quality. He focused the company’s strategy on consumers that could afford to pay more for a healthy meal instead of unemployed customers that wanted discounted unhealthy food that Panera’s competitors focused on such as Burger King. This strategy paid off because even during the recession of 2008, Panera continued to grow while there competitors sales declined. Throughout the 2000s, Panera continued to grow through new franchise agreements as well as acquisitions of other bakery cafes. This led Panera to become a national bakery-café that owned/operated over 1,400 stores in over forty different states, as well as in Canada. Panera in its early years grew from a small sixty customers a day, to an astonishing six million customers a week in present day. The company is now one of the largest food service companies in the United States, while continuing...
Words: 1854 - Pages: 8
...[pic] Style Guide CONTENTS 1 Introduction 1 1.1 Research and sourcing information for assignments 1 1.2 Referencing 2 1.3 Assignment layout 2 1.4 Cover page 2 2 Writing objectively 4 3 Reports 6 3.1 Purpose of reports 6 3.2 Report Format 6 3.3 Table of Contents 7 3.4 Executive summary 7 3.5 Headings and series 7 3.6 References 8 3.7 Appendices 8 4 Essays 9 4.1 Essential features 9 4.2 Essay format 9 4.2.1 Title page 10 4.2.2 Synopsis or abstract 10 4.2.3 Reference list and appendices. 10 5 Plagiarism 11 6 Referencing within the body of your work 13 6.1 Paraphrased References. 13 6.2 Short quotes 13 6.3 Long quotes 14 6.4 Same author, same year, different work 14 6.5 Documenting tables/charts 14 6.6 The Reference List 16 6.7 Examples of referencing 1 7. References 1 Introduction Good writing takes practice and there are many ways that students can enhance and support their writing to achieve sound academic results. This guide has been designed to help students meet the requirements of academic writing. In essence, this is a style guide. There are rules to follow to correctly present the original author and avoid plagiarism, and there are suggestions to follow to communicate clearly and concisely. This guide will not replace the generally accepted academic practices of using a spell checker or proof reading your work for grammar errors. Rather, this...
Words: 5408 - Pages: 22
...Mc-Donald Vs Domino’s - Comparative Analysis Determinant Of Choosing Fast Food Restaurant And Their Service Quality BY:- ANUJ CHAUHAN (FINANCE + MARKETING) ITM UNIVERSITY, SITHOLI, GWALIOR ABSTRACT SERVICE QUALITY Parasuraman et al. (1988) introduced a 22-item scale, called SERVQUAL, for measuring service quality, the model has been widely adopted across industries. The scale was tested in 4 service settings different from those of the original test: a dental school patient clinic, a business school placement center, a tire store, and an acute care hospital. In service industries, customer satisfaction is always influenced by the quality of interactions between customers and the personnel involved in the contact services (1994). In the last decade, the movement towards quality had started to spread from the manufacturing sector to the service sector. The shift of focus to quality is basic for the service business to survive the competition, get acceptance from society, and be able to achieve its missions. In principle, the two main things closely related to services are expected quality and experienced or perceived quality. The first is the customers' expectations of service quality and the latter is the customers' perceptions of service quality. The customers will always assess the services they experienced by comparing them with whatever they expected or wished to receive. Services are behavioral rather than physical entities and have been described...
Words: 7210 - Pages: 29
...2008 FRM® Examination Study Guide Topic Outline, Readings, Test Weightings The Study Guide sets forth primary topics and subtopics under the five risk‐related disciplines covered in the FRM exam. The topics were selected by the FRM Committee as topics that risk managers who work in practice today have to master. The topics are reviewed yearly to ensure the FRM exam is kept timely and relevant. FRM Examination Approach The FRM exam is a practice‐oriented examination. Its questions are derived from a combination of theory, as set forth in the readings, and “real‐world” work experience. Candidates are expected to understand risk management concepts and approaches and how they would apply to a risk manager’s day‐to‐day activities. The FRM examination is also a comprehensive examination, testing a risk professional on a number of risk management concepts and approaches. It is very rare that a risk manager will be faced with an issue that can immediately be slotted into one category. In the real world, a risk manager must be able to identify any number of risk‐related issues and be able to deal with them effectively. Readings Questions for the FRM examination are derived from the readings listed under each topic outline. These readings were selected by the FRM Committee to assist candidates in their review of the subjects covered by the exam. It is strongly suggested that candidates review these readings in depth prior to sitting for the exam...
Words: 2523 - Pages: 11
...strategic analysis, specifically both internal and external environmental analysis (Chapters 2 & 3 in Dess, Lumpkin & Eisner); and strategic formulation, specifically business level strategy (Chapter 5), with an additional focus on strategic implementation, specifically entrepreneurial development (Chapters 12 & 13). The case is written in a style that overviews the situation but intentionally avoids guiding students through any analytical framework or specific application question. In so doing, it provides the instructor with the latitude to adjust class discussion and thereby accommodate the abilities of a wide-range of students. Specifically, the instructor can invite students to reason through a situation where uncertainty exists and speculation may be required. In terms of environmental analysis, this case connects a discussion of external environmental forces and Porter’s five-force model, and how such forces affect the opportunities for growth in an industry (referencing concepts covered in Chapter 2). In terms of internal analysis of the firm, (referencing Chapter 3), the value-chain and resource-based VRIN analysis provides a case for how distribution challenges across the value-chain activities could affect value. The stakeholder perspective can also be analyzed using the balanced scorecard. As a business-level strategy case, (referencing concepts covered in Chapter 5), this case is very well suited to discuss the Porter’s generic strategies, the advantages and disadvantages...
Words: 3860 - Pages: 16
