Operations Management concepts can be observed almost everywhere in our regular lives. The following assignment is focused on productivity and quality management concepts. The purpose is to recognize Operations Management concept and its applicability in business.

Find two current article/video or more than two articles/videos (within the last six month from today’s date) that cover productivity and/or quality of operations in the following areas - refer to list below. Analyze the articles and construct your opinion discussing the importance of productivity vs. quality in a particular field of business and include your recommendations (at lease one). Make sure to clearly state what is important: productivity, quality, or both or it depends and why. Make sure that you incorporate input and output concepts and terminology.

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Answer:

Price. Perhaps one of the biggest factors is the price; although this can vary depending on income.  

Time. Everyone has the same 24 hours in a day. Whether you’re Bill Gates, Warren Buffett, or your next-door neighbor.

Effort. Time and effort are essentially interlinked. ...

Utility. This is essentially the enjoyment or pleasure that the consumer receives

Explanation:

Answer:

Explanation:

ATM s are of great use to the banks as the reduce the number of people storming the banks for withdrawal of money as well as deposit of money it reduces cost of operation and from customer point of view it is available easily near by hence travelling further distance to the bank is not required

ATMs are one of the most convenient services provided by the banks to customers. It is beneficial to banks as it is to its customers. It helps banks to save cost and time in withdrawing money and various other services which are now provided by ATM.

Automated teller machines, or ATMs as they are more commonly referred to, are a convenient way to conduct one-on-one transactions quickly and easily. One can do self-serviced transactions with these machines without a physical teller's aid or a trip to the bank branch. Cash withdrawals, cash deposits, and fund transfers are just a few of the many transactions possible with automated teller machines, or ATMs. Although the majority of customers only use ATMs to withdraw cash, these additional transactions make the service more effective.

With the advent of the ATM, users' financial lives became simpler because they could now perform simple transactions on their own with the aid of an ATM, which was much more practical than often visiting the bank. The ability for users to transact between banks is another significant advantage of an ATM. This means you can still use basic services like cash withdrawals from the ATM even if you don't have an account with the bank that runs the machine. Again, this saves you time and comes in handy in an emergency because you won't need to go to the ATM at your bank every time you need a quick infusion of cash. ATM helps banks operate more cheaply by lowering the number of human operations. The ATM provides service 24 hours a day which means customers can avail of money and other services at any time of the day.

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when labor usage is at 12 units, the output is 36 units, which implies a productivity rate of 3 units per unit of labor.

Based on the information provided, we can infer that the productivity or output per unit of labor is 3 units.

To determine this, we divide the total output (36 units) by the labor usage (12 units):

Output per unit of labor = Total output / Labor usage

Output per unit of labor = 36 units / 12 units

Output per unit of labor = 3 units

The given data suggests a fixed or constant labor productivity ratio of 3 units of output per unit of labor. This implies that for every 1 unit increase in labor usage, there is a corresponding increase in output by 3 units.

This consistent labor productivity ratio indicates that the production process is operating with a constant level of efficiency. It suggests that the technology, processes, and factors other than labor remain unchanged during the observed period.

However, it's important to note that this analysis is based on a single data point and may not capture the full complexity of the production system. Factors such as economies of scale, technological advancements, and other inputs may also influence the overall productivity. Further data and analysis would be necessary to gain a more comprehensive understanding of the relationship between labor usage and output in this scenario.

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Answer:

Explanation:

Having a background in business studies, economics, tourism, mathematical literacy, English, life orientation, and a home language can prepare you for various types of jobs in different industries. Here are a few examples of career paths that you may be interested in:

Business and finance: With a background in business studies, economics, and mathematical literacy, you may be interested in pursuing a career in business and finance. This could include roles such as financial analyst, accountant, investment banker, or management consultant.

Tourism and hospitality: Your background in tourism may be useful in pursuing a career in the tourism and hospitality industry. This could include jobs such as hotel manager, tour guide, event planner, or travel agent.

Communications and media: Your proficiency in English may be valuable in careers related to communications and media. This could include jobs such as journalist, public relations specialist, copywriter, or content marketer.

Social services: With a background in life orientation, you may be interested in pursuing a career in social services. This could include roles such as social worker, community health worker, or counselor.

These are just a few examples, and your career path will depend on your individual interests, skills, and values. It is important to research different careers and industries, gain relevant experience through internships or volunteering, and network with professionals in fields that interest you.

When trying to assess whether an applicant will be a good performer, managers utilize Selection Tools.

Selection is the process that managers in all organizations use to determine:

The known selection tools include:

Thus, when trying to assess whether an applicant will be a good performer, managers utilize interviews, background information, paper-and-pencil tests, and references, which are known as Selection Tools.

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Answer:

(q2 - q1)

Explanation:

I have uploaded the picture the question refers to below.

We can see that under a price ceiling of $0, the quantity of kidneys supplied is Q1, and if the price ceiling is removed, and the market is allowed to reach equilibrium, the new quantity of kidneys supplied is Q2, so the increase in the supply of transplanted kidneys can be found by the formula (q2 - q1)

Your profit as a percentage of revenue last month was approximately 8 %. To find the profit percentage, we'll follow these steps:

1. First, we'll identify the given values: profit ($3,186) and revenue ($42,364).
2. Next, we'll divide the profit by the revenue: $3,186 / $42,364.
3. After that, we'll multiply the result by 100 to convert it to a percentage.
4. Finally, we'll round the percentage to the nearest whole number.

Let's calculate the profit percentage:

1. Profit: $3,186 and Revenue: $42,364.
2. $3,186 / $42,364 = 0.075231.
3. 0.075231 x 100 = 7.5231%.
4. Round to the nearest whole number: 8%.

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The demand for loanable funds is downward sloping because as interest rates fall, business find more projects to be profitable and thus want to borrow more (option a)

This is due to the fact that lower interest rates make it more affordable for businesses to borrow money, which in turn can lead to increased investment and economic growth. Higher interest rates are equivalent to higher returns on business projects, which may encourage firms to borrow more, but this is not the main reason why the demand for loanable funds is downward-sloping.

Additionally, as interest rates drop, the value of the money supply does not necessarily drop, so option c is not a valid explanation for why the demand for loanable funds is downward-sloping.
This means that when interest rates decrease, the cost of borrowing becomes more affordable, leading businesses to invest in more projects and borrow more funds. Consequently, the demand for loanable funds increases, resulting in a downward-sloping demand curve.

Therefore, the correct answer is option a. as interest rates fall, business find more projects to be profitable and thus want to borrow more

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Answer:

The cost of living refers to the prices of goods and services needed to sustain an average level standard of living in an area

Explanation:

The cost of living refers to the cost of keeping up with a given standard of living. It is the amount Jamie would need to keep up with basic expenses such as food, housing, clothing and medical care. Cost of living compares the expense between living in two different areas. Jamie's cost of living is tied to his wages and it can be measured using what is called purchasing power parity.

The answer is invest heavily in corporate and subsidiary human capital. Contrary to multinational corporations, transnational corporations make significant investments in corporate and subsidiary human capital.

Any company that is registered and conducts business in more than one nation at once is referred to as a multinational corporation (MNC), sometimes known as a transnational corporation. The corporation typically operates totally or partially owned subsidiaries in other nations while having its headquarters in one particular nation.

Transnational businesses have a centralised management structure and operate in multiple nations. Despite having numerous locations across the globe, transnational corporations lack a centralised management structure.

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Answer:

Temperature usually decreases by 1°C for every 100 metres in altitude. Distance from the sea - Oceans heat up and cool down much more slowly than land. This means that coastal locations tend to be cooler in summer and warmer in winter than places inland at the same latitude and altitude

Explanation:

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The product's allocated common fixed expenses would be irrelevant to the decision of keeping or dropping a product line.

The irrelevant factor in the decision to keep or drop a product line is the product's allocated common fixed expenses. When deciding whether to keep or drop a product line, it is important to consider relevant costs and revenues. The product's sales, variable expenses, and traceable fixed expenses are all directly associated with the specific product line and have a direct impact on its profitability. These factors help in assessing the financial performance and viability of the product line.

However, the product's allocated common fixed expenses are not directly attributable to a specific product line but rather shared among multiple product lines or departments within the company. Therefore, they do not provide relevant information for the specific decision at hand. The focus should be on costs and revenues that are directly tied to the product line in question to make an informed decision about its continuation or discontinuation.

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When the anticipated operating income and the actual operating income diverge, the gap may be due to variations in input pricing and/or quantities.

Operating income is a company's adjusted revenue that has been adjusted for depreciation and all other operating expenses. Operating expenses are the costs incurred to sustain the operation of the business.

Actual Operating Income is defined as Operating Income (as further defined herein) as determined for any fiscal year by the Company's Board of Directors based on the fiscal year's audited consolidated financial statements of the Company and its subsidiaries, which financial statements shall be conclusive and binding upon the Company and you. A flexible budget, sometimes known as a "flex" budget, adapts to variations in the actual amount of income received. In its most basic form, the flex budget will use percentages of revenue rather than the customary fixed quantities for some expenses. Better comparability between budgeted and actual performance is the outcome of this strategy.

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The gain from locational arbitrage would be $20,400

Calculate the effective exchange rate at Bank X:

Effective exchange rate = (ask rate at Bank X) / (bid rate at Bank Y)

Effective exchange rate = 0.475 / 0.460 = 1.0326

Calculate the amount of Swiss francs that can be purchased at Bank Y using $4,800,000:

Amount of Swiss francs = ($4,800,000 / bid rate at Bank Y)

Amount of Swiss francs = ($4,800,000 / 0.460) = CHF 10,434,783

Calculate the cost of purchasing CHF 10,434,783 at Bank Y:

Cost = (amount of Swiss francs) x (ask rate at Bank Y)

Cost = 10,434,783 x 0.479 = $4,999,998.36

Calculate the revenue from selling CHF 10,434,783 at Bank X:

Revenue = (amount of Swiss francs) x (bid rate at Bank X)

Revenue = 10,434,783 x 0.404 = $4,210,430.23

Calculate the gain from locational arbitrage:

Gain = (revenue from Bank X) - (cost at Bank Y)

Gain = $4,210,430.23 - $4,999,998.36 = -$789,568.13

However, this result suggests that there is a possibility for a risk-free profit. So, an arbitrage opportunity exists here, but we have to perform the transaction with the quickest speed to prevent other traders from taking advantage of it.

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Answer:

Answer:

demand; rightward; increase; increase

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The law of diminishing marginal utility states that as a consumer consumes more of a good or service, the additional satisfaction or utility they derive from each additional unit consumed decreases over time.

This means that the more a person consumes of a particular good or service, the less satisfaction they will get from each additional unit consumed.

As a result, the law of diminishing marginal utility can affect the quantity consumed by consumers. As they consume more of a good, the satisfaction they receive from each additional unit consumed decreases, and they may reach a point where they are no longer willing to pay the same price for each additional unit.

marginal utility can lead to a decrease in the quantity consumed, as the consumer may choose to spend their money on a different good or service that provides greater satisfaction or utility.

Overall, the law of diminishing marginal utility plays an important role in consumer behavior and can have a significant impact on the quantity consumed of a particular good or service.

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I decided to apply for a position at Chick-fil-A because of their outstanding reputation for providing excellent customer service and for being a values-based company.

I had heard so much about Chick-fil-A's commitment to providing exceptional customer service, and their consistent efforts to give back to their communities. This really stood out to me and I wanted to be a part of an organization that values these things. Additionally, I knew that Chick-fil-A provided a positive and supportive work environment for their employees, which was also important to me.

Ultimately, my decision to apply for a position at Chick-fil-A came down to my desire to work for a company that aligns with my personal values and beliefs. I have always been drawn to organizations that prioritize providing excellent customer service, and Chick-fil-A is no exception. From their focus on creating a welcoming and friendly atmosphere, to their commitment to going above and beyond for their customers, I knew that I wanted to be a part of an organization that values these things. In addition to their customer service, Chick-fil-A is also well-known for their dedication to giving back to their communities. As someone who values community involvement and making a positive impact, this was another factor that made me want to apply. I believe that being a part of an organization that prioritizes giving back is not only important for the community, but also for personal growth and fulfillment. Finally, I was drawn to Chick-fil-A because of their reputation as a supportive and positive workplace. I have always believed that having a positive work environment is crucial for success and happiness in a job, and Chick-fil-A's commitment to providing this for their employees was very appealing to me. I wanted to work for a company that values their employees and fosters a culture of positivity and support.

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The reduction of a tax could increase tax revenue if the tax had been extremely high.

What is tax?
Tax compliance refers to policy actions but also individual behavior that aim to ensure that taxpayers are paying the appropriate amount of taxes at the right time and trying to secure the correct tax allowances and tax reliefs. A tax is a mandatory financial charge or some other category of tax levied imposition on a taxpayer (an personal or legal entity) by the a governmental organization in order to fund government spending and numerous public expenditures (geographic, local, or national). Around 3000–2800 BC, the first recorded taxation was enacted in ancient Egypt. A few examples of violating the law include failing to make payments on time, evading taxes, or refusing to pay taxes. Taxes can be direct or indirect and can be paid in cash or through the labour equivalent.

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Marginal revenue is the difference between output effect or price and the sales effect for a given quantity. Hence, option C is correct.

Marginal revenue is the additional income generated by selling one more unit of output. Although marginal revenue can remain constant at a given level of output, the law of diminishing returns eventually causes it to start declining as output level increases.

To calculate a company's marginal revenue, divide the variation in its total revenue by the variation in its total output volume. Marginal revenue is the selling price of one additional item that was sold. Marginal Revenue = Change in Revenue / Change in Quantity is the formula used to determine it.

Thus, option C is correct.

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Answer:

its

b, the caleb one

d, the jung one

d, the Alonzo one

Caleb investigates potential fraud situations and makes notes on his findings. In order to show how a company's money is being spent, Jung develops a report using charts. show potential tasks for those working in business financial management. Thus option (B, C) is correct.

In order to achieve desired goals and objectives, a person or group of people must be challenged and managed, according to the concept of management. Furthermore, the capacity to organize, supervise, and guide people is a component of management.

Managing telephone costs, employing new employees, purchasing facilities, creating project budgets, etc. are a few examples of financial management for a corporation or firm. financial administration

Therefore, Thus, option (C) is correct.

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Explanation:

1. Always be sure to contribute enough to a 401(k) to qualify for matching contributions from your employer.

2. Be aware of the underlying costs and fees of the various investments within your retirement plan.

3. You can contribute to both a personal IRA and a 401(k) plan at work.

A 401(k) plan is a type of retirement savings plan sponsored by an employer. It allows employees to contribute a portion of their pre-tax salary to a retirement account, which is then invested in a selection of mutual funds, stocks, bonds, and other assets.

These contributions and the earnings on them grow tax-deferred until they are withdrawn, typically in retirement.

One of the key benefits of a 401(k) plan is that many employers offer a matching contribution, which can help boost the account balance.

Additionally, 401(k) plans often offer a range of investment options and allow for convenient automatic contributions, making it easier for individuals to save for retirement. However, there may be fees associated with the plan, and early withdrawals may result in penalties.

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Shyla must pay Frank the extra $5,000 because she consented to do so and didn't object to Frank's miscalculation of time when she consented to give him $5,000.

When agreement is gained by the exercise of undue influence, the agreement may be revoked at the sole discretion of the individual whose consent was coerced.

It is impossible to argue that consent was granted voluntarily if it was obtained under duress, coercion, fraud, misrepresentation, or error. The contract is voidable if there is a mistake in the cause or the factor that led to the mistake.

When a contract is signed without the parties' express assent, it is deemed voidable. The legislation defines a voidable contract as one that is enforceable by law at the choice of one or more parties, but not at the discretion of the other parties.

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Real GDP - measure of economic output adjusted to inflation or deflation

Nominal GDP -  measure of economic output before adjusting for inflation

Gross National Product - right measure of a country's economic output produced all over the world

GDP - Right measure of a country's output, income and expenses

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Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports imports

When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.

Nominal GDP is GDP calculated using current year prices while Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.

Answer: Pairs

measures general price changes occurring

in an economy

consumer price index (CPI)

the total dollar amount of all goods,

services, and structures (buildings)

produced within a country in a year

gross domestic product (GDP)

when one country or organization has

the ability to produce a good or service

at a lower cost than competitors

comparative advantage

an increase in the supply of currency

that results in a decrease in the currency's

value and higher prices

inflation

the result of an alternative option that

is lost because you chose a different plan

opportunity costs

Explanation:

plato

Answer:

Shortage

Explanation:

I got it correct because I watched the given recording.

Georgina decides to take a dozen cupcakes to school to sell so she can raise money for her school trip to New Orleans. This market model is in a "competitive market".

Georgina operates in a competitive market characterized by high demand and a desirable product: her cupcakes. The price point of $0.50 each aligns with the perceived value which is resulting in swift sales within 15 minutes.

Subsequent inquiries from both teachers and students demonstrate sustained interest indicating that Georgina's cupcakes have achieved product-market fit.

Georgina's success in selling all cupcakes swiftly and generating ongoing inquiries highlights a well-balanced market equilibrium within the school community.

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Product Life cycle Management has several stages. The stages determined the growth and low downs of product. During the introduction stage, sales are growing slow(low) and profit is minimal.

Most times, firms do experience losses rather than profits during this stage. and so when product is new on the market and small or no profit is made due to high costs and low sales.

Conclusively, the stage gives a lot of opportunities such as low competition in the market.

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Answer:

She will break even each month / cover her costs by selling 2 necklaces

Explanation: