...CHAPTER 2 OPERATION STRATEGIES IN A GLOBAL ECONOMY INTRODUCTION In order for today’s companies to survive in the global economy condition, the companies have to set the strategies in their daily operations. TODAY’S GLOBAL BUSINESS CONDITION There are six factors that affect today’s global business condition and therefore had major impacts on the Operation Management: 1. Reality of global competition 2. Quality, customer service and cost challenges 3. Rapid expansion of advanced technologies 4. Continued growth of the service sector 5. Scarcity of operation resources 6. Social-responsibility issues REALITY OF GLOBAL COMPETITION Changing Nature of World Business Mostly every country in this world today is not only doing the internal domestic trading, but the scope of business has expanded to overseas. One particular country can export their products to overseas, and it can also import the products from other countries. International Companies Many of the international companies, whose operations span the globe as they buy, produce and sell in world markets. Strategic Alliances and Production Sharing Strategic Alliances are joint cooperations among international companies to exploit global business opportunities. Ex: General Motors Corp has created a strategic alliance with KIA Motor in order for them to sell their cars in South Korea. Production sharing, means that a product may be designed and financed by one country, raw materials...
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...identification of key variances and findings, and suggestions on operational changes. A description of the budget process will be presented to pinpoint variances and their causes. Based on these variances, operational changes will be suggested and explained while considering business ethics. Recommendations on particular component production as well as nonfinancial performance measures will be made and accompanied by supporting evidence. First, the following is a brief overview of the budget and budget process. Budgets are an indicator of the costs and revenues linked to each of the companies activities and a way of providing information and supporting mangement decisions throughout the year (Nobles et al., 2014). Budgeting requires managers to plan for the company’s future based on a formalized plan (Nobles et al., 2014). In order to begin this cyclical, formalized plan, companies must first establish their objectives (Nobles et al., 2014). Then the company formulates stratgies to achieve these objectives and creates a budget based on these strategies (Nobles et al., 2014). After the budget has been prepared, business operations (i.e. production, processing, etc.) begin and as financial periods end the results are compared to the initial budget (Nobles et al., 2014). Once the budgets are compared, the company can alter the existing strategy or develop an entire new one, and then continue on through the budget process (Nobles et al., 2014). This company’s labor variances...
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...financial statements was a critical component in the simulation. The success of Elite Solutions depended on the ability to assess the company’s financial position at any given time and make informed decisions based on the information provided. I chose to take a conservative approach at production capacity out of the gate, beginning the simulation with a capacity of 25 units per day, as the likelihood of sales exceeding that mark would have been highly unlikely and understanding that turning a profit is a tall order in the first quarter of any business. Initial budgeting was focused on directing the company’s limited capital toward the opening of the first two locations, New York and Tokyo. As the simulation moved into the 3rd and 4th quarters, it became imperative to budget for factors outside the realm of manufacturing. Each quarter, the ability to direct advertising, marketing research and human resource dollars was a requirement for success. The need to balance adequate staffing needs in relation to production and product demand required the use of multiple research and demand projection budgets. From the onset, my goal was to turn an overall profit during the first 4 quarters of operation. The pro-forma statements give simple to understand metrics of the financial position of Elite Solutions. Each quarter, I was able to ascertain the financial position, specifically regarding net operating cash flow and the cash balance at the end of each period to determine the relative...
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...Business Writing Portfolio COM/285 September 6, 2010 Matthew McCallister Business Writing Portfolio Part I: Business Writing Steps [pic] Part II: Portfolio 9/6/2010 The Retail Store 123 Any St. Anywhere, TX 76013 Dear The Retail Store Mangement Team The board of directors for The Retail Store has determined that scaling back the hours of our retail operations. Beginning next month, all stores will be closed on Sundays, and will open one hour later and close one hour earlier Monday through Saturday. All full-time employees, including the management team, will work four, 10-hour days each week. Part-time employees will consolidate their hours in one, two, or three workdays each week, depending upon the amount of hours they work. It has become necessary t hat we take action for both the sake of our employees and the companies’ bottom line. Working fewer days each week will help employees combat rising gas prices, enabling them to keep more of their hard-earned money in their pockets. This move will also help the company keep operating costs lower and maintain a steady profit margin. As a member of The Retail Store management team, we are relying on you to institute these changes within your stores, workout any issues that may arise with this change, and as always, we are open to any and all suggestions you may have to offer in cost cutting and sales initiatives. The Retail Store Deric Bentley President and CEO The...
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...Managing Human Resources HRD, Performance and Reward Management The current Coles regional store manager is currently underperforming in the role the company has assigned for them. As this position of regional store manager plays a key role in Coles achieving its organisational objectives through inspiring, engaging and leading a team of staff to embrace and demonstrate the above values. (Nanverkis, Baird, Coffey, & Shields, 2014) Suggest that human resources should review an organisations strategic direction before selecting recruits. All positions should be reviewed and aligned with the corporate strategy to ensure corporate goals are achieved. Human resource management is one of the most essential departments of an organisations success. The overall goal of this management team is to make sure that the organisations relations with their employees are satisfied. This includes attracting, developing and maintaining a quality workforce and developing performance objectives (Schermerhorn, et al., 2014). The human resource department is investigating one of the current regional manager’s performances. Reports have indicated that the regional manager is underperforming. Underperforming employee’s need to be addressed and handled by the organisation. Detailing several issues will help realign the employee with the organisations goals. The issues being addressed will actively engage and offer recommendations in assisting the regional store manager to effectively perform...
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... la demande a un impact direct sur le service client et la performance opérationnelle de l’entreprise : • Mieux anticiper la demande, • Fiabiliser la construction des plans et sécuriser leur exécution, • Faire preuve de souplesse et de flexibilité par rapport aux aléas de la demande, • Optimiser les niveaux de stock, • Réduire les coûts industriels et logistiques. Mais au sein d’une organisation mondiale multi marchés et multi-‐sites de production, d’autres enjeux viennent s’ajouter : • L’évolution rapide de la demande rendant le dimensionnement des moyens industriels toujours plus complexe, • La multiplication des flux croisés entre usines et marchés du fait de sa présence mondiale : développement des pays émergents et stagnation des marchés matures, • Des...
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...Operations Management Operations Management Customer Complaints & Quality Manangement at Hotel – The Manor Group 8 – Section B Sukhmeet Singh Sikka PGP15114 Harshit Jain PGP15082 Kanika Verma PGP15085 Nakul Yadav PGP15092 Pratika Saini PGP15100 Vikas Srivastava PGP15119 Customer Complaints & Quality Manangement at Hotel – The Manor Group 8 – Section B Sukhmeet Singh Sikka PGP15114 Harshit Jain PGP15082 Kanika Verma PGP15085 Nakul Yadav PGP15092 Pratika Saini PGP15100 Vikas Srivastava PGP15119 Importance of Customer Complaints: Customer complaints are an important source of improvement for any industry especially the service sector. It offer the industry an opportuinity to correct immediate problems and pave way for preventing long term issues. Also, in addition to this they also provide constructive ideas for improving the products and services, adapting to the new market market practices and updating the services. In case of service industry, occasional problems with service of merchandise are, to some extent, inevitable, dissatisfied customers are not. Companies can learn to recover from mistakes. A good recovery can turn angry, frustrated customers into loyal ones. Recognizing the importance of responding fairly and efficiently to buyer disappointment in the marketplace, many businesses have established effective and innovative systems for resolving consumer complaints...
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...Logistics Management “Logistic is the process of planning, implementing and controlling the efficient, effective flow of goods storage of goods, services and related information from the point of origin to the point of consumption for the purpose of conforming to customer requirements” Logistics exists to satisfy customer requirements by facilitating relevant manufacturing and marketing operation. The main responsibility of logistic is the geographical positioning of raw materials, work in process and finished inventories at the lowest possible cost. Creating logistics value is costly. Logistics accounts for one of the highest costs of doing business. Logistics expenditure normally ranges from 5% to 35% of sales depending on the type of business. Thus logistics even though very important for any business success is expensive. VARIOUS DEFINITIONS OF LOGISTICS MANAGEMENT Logistic management encompasses all materials flows management, from the inflow of purchased materials into works (i.e. materials planning of raw materials components and other products, transport of materials from suppliers to works, receiving and inspection and storage of materials) materials flow through manufacturing processes (i.e. materials issues and materials handling) and material (flow to customers (physical distribution (Refer fig.1 for these relationships) Materials Logistics physical distribution Management Management Fig.1 (Relationship between logistics and other)...
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...Schulich school of business | Making Strategic Decision for SmartMart | A Reflection on Ethics-LX Simulation Exercise | | Binoy Das (211137007) | Winter-2011, Section-F | This document is my personal reflection on the business simulation on ethics-lx, where I had to take three strategic decision choices for specialty grocery retailer – SmartMart, with an aim to retain their market leadership position as retail supplier of sustainable food products, while at the same time being true to their mission statement of total stakeholder management. | Contents SmartMart Simulation – The Main Content 3 Reflection on Decision Making 3 Changing Store Format 3 Adopting Bio-Fuel 4 Pursuing Organics 2.0 Standard 5 Conclusion 5 Bibliography 6 Certificate of Completion – SmartMart Simulation on Ethic-LXTM 7 SmartMart Simulation – The Main Content The simulation exercise puts the incumbent in the shoes of a leadership trainee at Corporate Strategy division of SmartMart, a retail grocery chain that combines the mission of environmental stewardship with entrepreneurial spirit in an effort to add value to all their stakeholders. SmartMart is going through a watershed moment where mass market adoption of organic products has set them up against price-leader competitors, eroding their margin and exclusivity of their organic products. In an effort to utilize their core competence to maintain market leadership, SmartMart has thrown their business model up for questioning...
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...How General Motors Poor Enterprise Risk Management & Managerial Decisions in the 21st Century has Effected Where They Stand Today Brittany M. Mendez North Greenville University Abstract This paper discusses the rise and fall of General Motors during the 21st century and documents many different managerial decisions that led to where the company is today. It also analyzes the enterprise risk management plan that General Motors was famous for. They were known for being a company that successfully implemented an ERM that was linked to its success after many failures. I will examine how an ERM was the framework to coming up with a plan of action to identify and mitigate risks, but ultimately it was up to supervisors to make the managerial decisions that now General Motors must face the consequences for. Keywords: General Motors, Enterprise Risk Management How General Motors Poor Enterprise Risk Management & Managerial Decisions in the 21st Century has Effected Where They Stand Today General Motors was once regarded as one of the best managed and most successful firms in the world, but between 1980 and 2009 its share of the U.S. market fell from 62.6% to 19.8%, and in 2009 the firm went bankrupt (Helper & Henderson, 2014). In this paper I will examine the decisions that General Motors made in regards to their Enterprise Risk Management Plan and how management decisions determined the fate of where General Motors is today. We all know General Motors has...
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...Summary The Ford Motor Company is a well established, international automotive design and production company that is shifting the company mission to have an emphasis on shareholder value and customer responsiveness. In the face of increasing international competition, Ford has recognized several facets of operations that can be better executed in order to attain the outlined objectives. There has been several alternatives to various operations within Ford that can directly alter the fundamentals of its business, all with a strategic significance put on the supply chain procedures. This case study identifies these options; maintaining current practices and partnerships, standardization of their supply chain and sub-system products to simplify the supply process, adjust the retail services and dealership chains to drive market driven sales and a combination of virtual integration with key suppliers to drive relationship based supply that is determined by a forecast driven sales and production model, called the Ford 2000 Process. Through the evaluation of the presented alternatives, the Ford 2000 Process has been selected as being the most effective path to achieve the corporate goals of the Ford Motor Company. Ford should be able to utilize it’s current market share and global supply network to generate beneficial partnerships on key suppliers and stabilize a fluctuating production model that is riddled with waste and redundancy. Shaping customer mindsets of the value of...
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...A Restaurant Practicum Report On MatsuriDaikoku Food Inc. 233 Tomas Morato Cor. E. Lopez Jr. , Near ABS-CBN Compound Quezon City , Metro Manila TRAINING PERIOD: February 16,2012-May2012 In Partial Fulfillment of the requirements for the course SWEP – Supervised Work Experience Program For a degree in Bachelor of Science in Hotel and Restaurant Mangement Submitted by: Evangelyn A. Jugueta Sta.MonicaSubd.Ugong , Valenzuela city 09269792307/09092387282 Submitted to: SWEP Coordinator Submitted on: October2012 Matsuri Japanese Restaurant Table of Contents Introduction of the Company Vision, Mission and Goals of the Company Organizational Chart CHAPTER TWO The Company and its Operations: SWOT Analysis Case Presentation and Discussion Recommendations CHAPTER THREE . Daily Training Experience Report General Perception of the Training APPENDICES Pictures in Action Pictures of Facilities Rules and Regulations Establishments Brochures Pictures of the Food with Definitions Updated Resume A.) INTRODUCTION OF THE COMPANY Matsuri Japanese Restaurant was opened November 21, 2007. Pioneer in the restaurant industry, there is no success story as remarkable as that of the Triple V-group ( Saisaki, Kamayan, Dad’s and Samboko Jin Restaurant) owned by Mr. Victor V. Villavicencio ( VJ Villavicencio, the owner of Matsuri. ) Mr. Victor Sixto Jose B. Villavicencio opened his very own restaurant with the systems and manpower run...
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...* All assigned chapter readings are covered. * All TCOs are covered. * The Final Exam is 230 points total broken out as follows: 5 Short Answer (10 pts each), 4 Essays (45 pts each). * You have 3.5 hours to complete the exam. * SAVE frequently, because when the time limit is reached you will automatically be exited from the exam. * There are 2 pages for the exam. They do not need to be completed in order. * Help Desk phone number: 800-594-2402. * See Syllabus/"Due Dates for Assignments & Exams" for due date information. Week 8 : Final Exam and Looking Ahead - Final Exam ------------------------------------------------- Top of Form Time Remaining: | | Page: 1 2 | Page 1 Question 1.1. (TCO A, B) How is job dissatisfaction reflected in an organization? (Points : 10) Job satisfaction is the collection of feelings and beliefs people have about their jobs. Job satisfaction is a positive feeling about your job resulting from an evaluation of its characteristics as we studied in the last weeks job dissatisfaction is reflected within any organization or company through the attitudes , actions and performance of that dissatisfied employees within that organization, we all agreed in our weekly Discussion that when employees are dissatisfied they are less likely to perform their job effectively and efficiently, show no enthusiasm to go the extra for the company or fellow employees, and tend to be absent a lot, if...
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...I. PROJECT MANAGEMENT PROJECTS Unique, one-time operations designed to accomplish a specific set of objectives in a limited time frame. Examples of Projects • Contsructing a shopping complex • Merging two companies • Putting on a play • Designing and running a political campaign Examples of Projects within business organizations: • Designing new products or services • Designing advertising campaigns • Designing information systems • Reengineering a process • Designing databases • Software development • Designing Web pages Projects may involve considerable cost, Long time horizon and some involve a large number of activities. – must be carefully planned and coordinated to make the project successful. II. BEHAVIORAL ASPECTS OF PROJECT MANAGEMENT KEY DECISIONS IN PROJECT MANGEMENT Much of the success of the projects depends on key managerial decisions over a sequence of steps: 1. Deciding which projects to implement 2. Selecting the project manager 3. Selecting the project team 4. Planning and designing the project 5. Managing and controlling project resources 6. Deciding if and when a project should be terminated 1. Deciding which projects to implement This involves determining the criteria that will be used to decide which projects to pursue. Typical factors include: - Budget - Availability of appropriate knowledge - Skill personnel - Cost-benefit considerations Of course other factors may override these criteria such as: ...
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...FreshDirect Case Study COMPANY NAME/WEBSITE/INDUSTRY FreshDirect is an online grocer providing high quality fresh foods, popular grocery and household items at incredible prices delivered to residences and office in New York City and the metropolitan area. Their website can be accessed at www.freshdirect.com. FreshDirect tailors cuisine, perishables and dishes for its clients by means of an assembling practice known as Just-In-Time lessening waste and enhancing quality and freshness. FreshDirect is prominent for its resource usage of local agriculture offering organic, natural nourishment supplying commodities the consumer would purchase in their local supermarket. BACKGROUND/HISTORY Founded in 1999 by Jason Ackerman and Joseph Fedele, they ascertained learning from failed attempts of other online grocers. Ackerman, who worked in finance, sought out Fedele, who worked at Fairway grocery. In a Bloomberg TV interview last year, Ackerman said, “[W]e really founded on two guiding principles. First was to rethink how we get product from the farm to a customer's table in a much more efficient way which lends itself to deliver better quality products at better prices. And second, because we know so much about our customers, is to use that information to deliver a much more personalized, better experience.” [ (Goldberg, 2010) ]. The Key Executives for FreshDirect, LLC are Mr. Jason Ackerman, Co-Founder and Mr. Steve Druckman, Chief Marketing Officer. The company...
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