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Global Management

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Unit 1 Review Assignment
Directions

Please complete the questions below. You should work on this assignment as you go through the assigned readings and chapters in your textbook. Please write in complete sentences. Avoid copying directly from the text. Your responses should be in your own words.

When you have completed your assignment, name your file Unit 1 Review and include your last name in the file name. (Smith U1 Review)

Chapter 1

1.In your own words, define operations management.

2.Explain why business managers should study operations management.

3.Name the 10 decision areas of operations management.

Chapter 2

4.Operations managers constantly seek ways to reduce costs while providing value to its customers. “Going global” may reduce costs by using lower priced labor and manufacturing facilities. NAFTA, the North American Free Trade Agreement, is a free trade agreement between Canada, Mexico and the United States. The WTO, World Trade Organization, promotes world trade by lowering tariffs or taxes on the flow of goods among countries and between borders.
•Research one of these two trade agreements (NAFTA or WTO). Describe the effects of the agreement on one type of operation or industry here in the USA.

5.Operations management must support the company mission and overall strategy. Define mission and strategy and describe how these two serve different purposes.

Chapter 4

6.Forecasting is a critical function in operations management. Explain how demand forecasting affects one different operational system.

7.Briefly describe the qualitative approach of forecasting.

8.Briefly describe the quantitative approach of forecasting.

Grading Criteria

You will be graded on the accuracy and thoroughness of your responses and on your ability to communicate.
•65% Content - Accurate, organized and thorough responses that...

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