Operations Management - 1816 Words

Introduction A conventional â€Å"bricks and mortar† grocery does not have an online presence, only a physical one. It is built on a face-to-face customer service, and usually always has a building for their operations. A â€Å"brick and mortar† grocery has advantages and disadvantages compared to an online operation, like Theorganicgrocer.com. First of all, their major disadvantage is the overhead. The cost of property, insurance, taxes and staff is much higher for a â€Å"brick and mortar† operation than an online operation. The biggest advantage for a â€Å"brick and mortar† operation is customer security. To a customer, if a company has physical presence, it is seen as more reliable as the company is far less likely to fold overnight and disappear.†¦show more content†¦Each of these primary activities is linked to support activities, which help to improve their effectiveness or efficiency. There are four main areas of support activities: procurement, technology development (including Ramp;D), human resource management, and infrastructure (systems for planning, finance, quality, information management etc.). The chain consists of a series of activities that create and build value. They conclude in the total value delivered by an organisation. The ‘margin’ depicted in the diagram is the same as added value which expresses the way a business differentiates itself through configuration of its value chain. The drivers for product differentiation and value creation are policy choices (what activities to perform and how), linkages (within the value chain or with suppliers and channels), timing (of activities), location, sharing of activities amongst business units’ learning, integration, scale and institutional factors. Eg: - Inbound Logistics (receiving and storing materials for distribution for production) Registration * Provide information Eg.: -Categories Product -Build Database -Paypal Operations (transforms inputs into finishedShow MoreRelatedOperations Management : Operation Management1355 Words   |  6 PagesOperations Management Introduction Operations management is the activity of managing the resources that create and deliver services and products. The operations function is the part of the organization that is responsible for this activity. Every organization has an operations function because every organization creates some type of services and/or products. However, not all types of organization will necessarily call the operations function by this name. Operations managers are the people who haveRead MoreOperation Management - Cadburyworld2493 Words   |  10 Pagestechnology to streamline the operation process) and facility costs (old and outdated facilities) at lowest possible. In return, they have to compromise low costs with their other objectives. The unskilled staffs and outdated facilities are compromised with the quality in the core process. For example, the brief video (facility) in the packaging plant is outdated and requires commentary notes from some guides. However, the unskilled guides are not familiar with the operations so they need to read fromRead MoreOperation Management And Operations Management2148 Words   |  9 PagesOperation management Introduction Being an operations manager is not an easy task, it involves good control and responsibilities for the major activities within the organisations in order to achieve goals that might be in form of services or in form of goods. The operation management roles may be different from business to business depending on the size and resources available, each organisation has its own operations functions, and in order to produces goods or services they have to convert theRead MoreImportance Of Production And Operations Management2317 Words   |  10 Pagesthe production and operation of enterprises. In order to remain competitive, companies in different countries have different factors of competitive advantage. A clear competitive advantage is the key to gain success in production and operation management. An effective operations management is the foundation of enterprise competitive advantage and the fundamental guarantee to realize corporate strategy. This essay deals with the importance of production and operations management in the enterprise,Read MoreOperations Management : Operation Management Essay2171 Words   |  9 PagesOperation Management Operations administration concentrates on precisely dealing with the procedures to create and circulate items and administrations. Operations administration is the procedure, which joins and changes different assets utilized as a part of the creation/operations subsystem of the association into quality included item/benefits in a controlled way according to the arrangements of the association. In this way, it is that part of an association, which is worried with the changeRead MoreOperation Management2751 Words   |  12 PagesTABLE OF CONTENTS 1. OPERATION MANAGEMENT 3 1.1. DEFINITION OF OPERATION MANAGEMENT 3 1.2. THE ROLE OF OPERATION MANAGER 3 1.3. RELATIONSHIP OF OPERATION MANAGEMENT WITH OTHER CORE FUNCTIONS 3 2. CASE STUDIES 3 2.1. HEATHROW INTERNATIONAL AIRPORT 3 2.2. NESTLÉ UK CHOCOLATE FACTORY 3 3. MAJOR UNDERSTANDINGS OF THE STUDY 3 4. CONCLUSIONS 3 REFERENCES 3 1. Operation Management For the success of an organization, the management crew plays a major role. An organizational structure is based on differentRead MoreOperations Management986 Words   |  4 PagesOPERATIONS MANAGEMENT Select two organisations that you are familiar with – one with a service output and one with a product output, and compare and contrast these organisations with respect to the following aspects: 1.1 The process of transformation of inputs to outputs 1.2 Process and Capacity design 1.3 Supply Chain management 1.4 Scheduling Operations Management refers to the management of the production system that transforms inputs into finished goods and services, (http://csuponomaRead MoreOperation Management2436 Words   |  10 PagesOPERATION MANAGEMENT IS IMPORTANT TO ALL BUSINESS To be able produce specialized managers capable of fulfilling strategic tasks within business and government enterprises the need for the practice of operations management cannot be forgone. Operations management is very significant in business operations since it forms the heart of the organisation by controlling the system of operation. Operations management deals with the design, operation, and enhancement of the systems that generate and deliverRead MoreOperations Management Chapter 18 Manual1950 Words   |  8 PagesChApter 18 Management of Waiting Lines Teaching Notes Some of the math and calculations can be left out in order to focus more clearly on the concepts of waiting lines. For example, all infinite source problems, including single channel (except constant service time) can be handled using the infinite source queuing table. In the past, queuing presented students with a good bit of computational requirements, and because of that, students frequently lost sight of the underlying concepts. WithRead MoreOperations Management1791 Words   |  8 PagesQUESTION 1 Operations management must be managed properly in order to improve an organization’s productivity and profitability. In the Cadbury World case, several micro and macro processes are involved and those processes bring some impacts to Cadbury World. Thus, Cadbury World must possess a sustainable micro and macro processes to achieve the best outcome and performance. Micro processes that involved are easily to manage compared to macro processes because macro processes are hard to manage

Summary Of The Veldt - 1266 Words

The Veldt Wendy and I sat quiet anticipation in the family helicopter as we rode back home from the plastic carnival, occasionally speaking lowly about the nursery. Not too long ago Father had tried to lock us out of the nursery for no good reason, but was thankfully was stopped by Wendy and I; the nursery was thankfully unlocked once again. Father is a terrible man and Mother is no better. Truth be told they are more of a nuisance. With the Happylife home there was truly no use for them. In fact to me there really isn’t a use for anyone with the Happylife home aside from perhaps my sister; however, even she is not truly needed. Humans were terrible and I would much rather associate with the lions of the Savannah. I feel as if I understand them better: their animalistic instincts and pack mentality more appealing to me than the evils of humanity. Oh yes, the lions and I are one and the same. As Wendy and I enter the house, we--unfortunately-- spot Mother and Father. Listening into their conversation a bit, I am horrified to discover that they are talking about the nursery again. It seems they realized the fascination with the horrifically beautiful plains of Africa that their children posses. Mother and Father seem very unnecessarily troubled by this, although I can’t imagine why. Perhaps it is because they have nothing else to do but worry-- humans are stupid like that. â€Å"Hello Mom. Hello Dad,† Wendy and I greet them cooly. Our parents swiftly turn to greet us, telling usShow MoreRelatedThe Veldt, By Ray Bradbury1444 Words   |  6 Pageshover boards, and using iPads to order food at a restaurant. What used to be inconceivable in the 1950s is now the norm 66 years later The science fiction short story â€Å"The Veldt,† by Ray Bradbury, was written in the 1950s, yet gives the reader perspective on the dangers of advancing technology as a prophecy of our future. In â€Å"The Veldt,† the two parents, Lydia and George, are affluent and spoil their children, Peter and Wendy with technology, which ultimately leads to the parents’ death. Using Lois Tyson’sRead MoreEssay on The Veldt1782 Words   |  8 PagesFahrenheit 451. The veldt was published originally as â€Å"The Word the Children Made† in The Saturday Evening post and later republished in â€Å"The illustrated man† in 1951. The rise in the popularity of T.V. had a direct influence on â€Å"The Veldt.† At the time the story was written, many American families were acquiring their first television sets, and no one was sure exactly how this new technology would impact the relationships among family members and this fear is reflected in â€Å"The Veldt†. Characters Read MoreThe Illustrated Man By Ray Bradbury1316 Words   |  6 Pagesskills class, we are reading Illustrated Man by Ray Bradbury. This book is about short stories that take place in future. All of the short stories are based on different themes. For example in the short story, The Veldt theme is technology is controlling our lives. In the story the Veldt the house is fully programmed and high tech. The house takes over everything inside the house, even the roles of mothers and fathers. The three stories I am talking about today is the Marionettes, Inc, The CityRead MoreThe Role of Adult Education in Womens Empowerment16079 Words   |  65 Pages................................................................................... 6 LIST OF FIGURES ................................................................................................................................... 6 EXECUTIVE SUMMARY ........................................................................ ................................................ 10 GENERAL OVERVIEW: THE BOTSWANA CONTEXT ........................................................................... 17 1.1 Introduction

Measure of Welfare free essay sample

Individual living conditions include non material aspects as health, life expectancy, education and environment. Happiness, as the ultimate goal, does not change much over time as it depends on family, friends, work satisfaction, not much on income. Hence, GDP (a frequently varying and objective measure based on raw formulas and numbers) can definitely not be an accurate measure of a nation welfare (or happiness, by far more subjective and non-changing in nature. ) As discussed in the previous paragraph, there are several layers we need to go through from GDP in order to reach welfare. Each layer will inevitably impose encompassing new considerations in finding the ‘right’ measure for welfare, should the latter be initially based on GDP. To illustrate, the figure below shows a relatively low economic well being in spite of a high GDP per capita for USA, while it depicts a relatively high economic well being in spite of a low GDP per capita for France. In both countries overall happiness and life satisfaction are quite steady over time. 2. From GDP to Welfare Our analysis of the way from GDP to welfare is based on the following illustration. Yet, depreciation does not contribute to welfare in any way, and the replacement of old capital only gets the economy back to the â€Å"starting† position. Such capital consumption (ranging from 10% in UK and more than 20% in Japan) prevents (at least partially) any rise of GDP from benefiting consumers and only replaces physical capital. Similarly, expenditure on crime prevention and security adds significantly to GDP but only restores a safe environment. Medical expenditure as a result of air and noise pollution also adds to GDP as do diet classes, antidepressants and a sizeable list of other items . e. hence comes the notion of the Net Domestic Product as the result of subtracting capital consumption from GDP. Second, GDP measures income produced in a country but not how much of it is received by people in that country. Implicitly speaking, some income may go to foreigners. This is particularly the case in Ireland, which transfers a non negligible 15% of primary income to the rest of the world. On the other side, other countries (Japan and Germany for instance) are net recipients of income from abroad leading to the rise in income of residents outpacing the rise in GDP. Here comes to notion of the Net National Product as the result of subtracting net income receipts from abroad from net domestic product. Third, GDP â€Å"objectively† counts monetary transactions (including estimates for those in the shadow economy) and very often misses many other activities that people â€Å"subjectively† value like caring for children or elderly at home, spending leisure time spent relaxing or with family and friends. GDP does not include the value of clean air and water i. e. ; therefore, any useful measure of well-being would try to capture these items, which are not considered at all by GDP. However, if we take our reasoning the extreme line, this would imply that basic food and clothing also should not be included. This again highlights some of the arbitrariness of the different measures. 2. 2 Some Initiatives towards Welfare Measurement In 1970s a measure of Economic Welfare (MEW) was proposed by James Tobin and William Nordhaus. The principle was to add to GNP the value of household services and leisure, to subtract the cost of capital consumption and â€Å"bring-back† costs such as pollution, and to excludes police services to combat crime and similar. Many later studies used components and weights of different measures, but they were all based on researchers’ own subjective judgment. A very comprehensive and thorough Index of Economic Well-Being comes from the Canadian Centre for the Study of Living Standards. It starts from the flow of private and government consumption (excluding household work). The stock of physical and human capital owned by residents tries to measure the stock of productive resources that can be passed on to the next generation. Inequality is captured through the Gini coefficient and the poverty intensity. Finally, the security component aggregates diverse items such as divorce rates and employment rates (with a negative sign). The overall Index of Economic Well-Being is a weighted average of the four components. The preliminary 2004 results shows that economic well being ranking differ significantly from the ranking for GDP per capita, favoring countries with high income equality and low insecurity. Several countries started publishing or developing national economic well-being measures. So far, there is no international standard for calculating them. The measures differ significantly across countries and may reflect the values and priorities of the researchers who construct them. Over the coming decades we are likely to see more standardization in this area. 4 MBAXIV A – MA 1407 – Business Economics in a Global Market GDP Welfare – The Moroccan Example Still, consumption, wealth, equality and security only capture part of a human’s well-being. Many other elements are relevant as well. Perhaps, the best-known, but rather narrow measure of human living conditions is the United Nations’ annual Human Development Index (HDI): a combination of the levels of life expectancy, education and GDP to measure human development (not necessarily welfare); which makes it a valued contribution but still narrow in scope because of its high correlation with GDP. A more comprehensive measure of human living conditions is the Weighted Index of Social Progress (WISP) calculated by Richard Estes at the University of Pennsylvania and going back to 1970. This index tries to capture many dimensions of wellbeing, covering income, education, health, role of women, environment, social peace, diversity and welfare. In UK, the â€Å"new economics foundation† publishes a Happy Planet Index (HPI): a combination of data on life expectancy, surveys on satisfaction and consumption of natural resources (in an attempt to measure how happy people live without damaging the planet). With such strong focus on the environment, this index favors countries near the equator. Anecdotal evidence suggests that HPI may be a good guide for holiday destinations! Another measure in the UK is the Measure of Domestic Progress (MDP). From consumer expenditure, social costs (inequality, accidents, crime, family breakdown etc. , environmental costs and the loss of natural resources are subtracted. This indicator peaked in the mid-1970s, declined until the mid1980s and has not yet regained any considerable improvement due to rising social and environmental costs. Because the Labor government’s focus on improving the overall quality of life in the UK, this measure has some influence on policy priorities, and reversibly, policy influences measured wellbeing. 2. 3 Happiness and Life Satisfaction The well-being indicators still cannot tell how happy individuals are. Measuring happiness requires a different approach mainly based on surveys. According to the survey of spring 2006, 66% of Danes said they were very satisfied with the life they lead. Only 17% of Germans and just 4% of the Portuguese felt the same way. Over the past 15 years, the average level of life satisfaction has not changed much in spite of the large increase in per capita income. Football events and achievements greatly contributed to satisfaction bumps (france in 1998, Portugal in 2000). Satisfaction of life is influenced by factors other than income, and it is very difficult to boost satisfaction on a sustainable basis mainly because people get used to igher income, consumption and circumstances. For example, by the hedonic treadmill, driving a new car for the first time may make one very happy, but only for a short time. Naturally, humans always aim higher for better living conditions. The satisfaction treadmill can make one feel that it would have been better to have a house in a better or safer neighborhood rather that the just recently completed new house. To make thing even worse, an individual’s satisfaction tends to be influenced by how well others are doing. Driving a big car may make one happy if she is the only person with such a car, but satisfaction with that same car quickly diminishes if friends and neighbors drive similar cars. Also, if one buys a big car, this may depress the happiness of neighbors, so aggregate happiness may not rise. According to Lyubomirsky et al. (2005) a part of happiness appears to be genetically determined (around 50%), another part determined by happiness-relevant activities (40%) and the remainder by circumstances (income, climate, environment, stable democracy etc. ).