File: ch01, Chapter 1: Basics of Operations Management Multiple Choice 1. Every business is managed through what three major functions? a) accounting, finance, and marketing b) engineering, finance, and operations management c) accounting, purchasing, and human resources d) accounting, engineering, and marketing e) finance, marketing, and operations management 2. Which business function is responsible for managing cash flow, current assets, and capital investments? a) accounting
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old marketing strategy of quality goods at low cost has become redundant and the focus is on customer centric marketing and product development. Customer Relationship Management (CRM) has been defined as, “a cross functional, customer-driven and technology-integrated business process management strategy that maximizes relationships” Chen and Popovich (as cited in Parsongsukan,2010, p.17). The successful implementation of a CRM strategy requires organisational transformation, changing business processes
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explaining the legal and ethical issues relating to the use of business information. Legal Issue | Impact on the business | Data Protection Act (1988)The Data Protection Act controls how your personal information is used by organisations, businesses or the government. Everyone who is responsible for using data has to follow strict rules called “data protection principles “ There is stronger legal protection for more sensitive information, such as:Ethnic backgroundPolitical opinionsReligious beliefsHealth
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depends on the type of industry, e.g., the long-run for a dry cleaning business may be a few weeks or months. Generally, a firm operates in the short-run and plans increases or reductions in its scale of operation in the long-run. In the long-run, technology generally improves, so that more output can be obtained from a given quantity of inputs, or the same output from less inputs. Production Function: a mathematical model relating the maximum quantity of output that can be produced from given amounts
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super-adaptable businesses. Hoping to find that switch, they often turn to technology, looking for some magic to help them navigate a changing business environment. However, technology by itself is not the solution. Any discussion about generating a positive impact for the business should first center on how to empower people with effective solutions that deliver results. A “connected retailer” not only leverages a flexible, economical technology platform that drives results, but also focuses primarily on its
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open access by the Graduate College at Digital Repository @ Iowa State University. It has been accepted for inclusion in Graduate Theses and Dissertations by an authorized administrator of Digital Repository @ Iowa State University. For more information, please contact hinefuku@iastate.edu. Three essays on biofuel, environmental economics, and international trade by Jingbo Cui A dissertation submitted to the graduate faculty in partial fulfillment of the requirements for the degree of
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TOPIC: INFORMATION TECHNOLOGY BY TANU SHARMA TYBAF – 53 INTRODUCTION The information technology (IT) industry has become of the most robust industries in the world. IT, more than any other industry or economic facet, has an increased productivity, particularly in the developed world, and therefore is a key driver of global economic growth. Economies of scale and insatiable demand from both consumers and enterprises characterize this rapidly growing sector. The Information Technology
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In the mid-2000s, oil prices began to surge due to an increase in global oil consumption. Since oil production in conventional fields could not meet demand, oil prices continued to rise. With oil prices increasing, energy companies saw it profitable to begin obtaining oil from shale formations that were traditionally hard to drill using techniques such as hydraulic fracturing. Such techniques led to a boom in unconventional oil production. Due to these techniques, the United States alone has added
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dissemination, and use of product definition information • Supporting the extended enterprise (customers, design and supply partners, etc.) • Spanning from concept to end of life of a product or plant • Integrating people, processes, business systems, and information Three core or fundamental concepts of PLM are: • Universal, secure, managed access and use of product definition information • Maintaining the integrity of that product definition and related information throughout the life of the product or
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BARRIERS TO SUCCESSFUL IMPLEMENTATION OF ADVANCED MANUFACTURING TECHNOLOGIES WITHIN SMALL AND MEDIUM INDUSTRIES IN KENYA Jacob Luballo Muyoyo Gangla Department of Computer Studies Kenya Technical Teachers College P.O. Box 44600 Nairobi - (0)20 7120212, 0729994440 E-mail:Luballomuyoyo@yahoo.com ABSTRACT Small and medium scale industries (SMIs) are increasing under pressure to adopt advanced manufacturing technologies (AMTs) to survive or be competitive. Previous studies suggest
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