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Operation_Management_DBs (Autosaved)

Operation_Management_DBs (Autosaved) - Week 1 STATISTICS IS...

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Week 1 STATISTICS IS THE TAMING OF RANDOMNESS Explain the theoretical foundation for this joke and how it relates to Operations Management It is used to analyze the data to make things do what you want it to. You develop systems that minimize randomness. Jan Thomas Better post The joke, "Statistics is the taming of randomness", and how it applies to operational management in my opinion relates to the idea that statistics takes what appears to be random events and puts them (the events) in a cohesive form that makes sense even if the there is no true set answer because there is always a variance. So, operations management takes what seems to be various random events, such as when constructing a building (foundation pouring, electrical layout, framing, etc), and puts them in an order that "tames" the building process into an organized event that also has variances in time due to unforeseen circumstances. Week 2 Our text summarizes general thoughts and principles on high/low volume for manufacturing and service industries. What do you think? Do you have any personal experience which exemplifies (supports or contradicts) these 'principles'? E.g. How would you characterize my role as eCampus instructor for Troy University with respect to manufacturing/service and high/low volume? Does that role fit the summary? Week 3 The Value Chain was described and popularized by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining Superior Performance , New York, NY The Free Press. Coupled with his seminal work with the Five Forces Model , published in 1980, Competitive Strategy . New York, The Free Press, these thoughts have stood the text of time for nearly 3 decades. a) What is the importance of the Porter model and why, as a consequence do many regard him as one of the giants in business theory? The importance of the Porter model is that the Value chain is what the managers thought of as a tool to use for planning. The goal of the value chain is to maximize profit while lowering costs. This has worked as a great strategic plan for years and that is why many think highly of him and his theory. b) Several academics are now casting doubt on the generality of the Porter model. What are their premises? The Porter model is based from an economy that uses its resources and makes products to sell. When this model was first developed not many people were employed in these industries. Now
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there tend to be more individuals working in these industries. Today’s industries are too complicated for his model. c) What do you think? I believe that back then when companies where not so competitive this model was great.
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