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Question 1.
It is often said that profit maximization is the sole objective of business conduct. Do you agree with this view? Justify your answer using at least one example / case study from the Greek economic reality.
Question 2.
In your opinion, can the CEO of a company take decisions relying on the information he gets from the firm's production function? Justify your answer.
The local convenience store makes personal pan pizzas. Currently, their process makes complete pizzas, fully cooked, for the customer. This process has a fixed cost of $20,000, and
Computer Aided Design is one of the techniques used by Regal Marine in manufacturing of boats. With the aid of exapmles, critically discuss five (5) techniques that are important t
Process Capability - Statistical Process Control The controls charts described so far are concerned with maintaining the stability of a process, but they offer no comment on
Why is quantitative risk so important in risk mitigation? Explain how you have seen this in action in life or in your organization.
1. Porter (1996) attempts to resolve the issue of Skinner's quandary with trade-offs by introducing the concept of a productivity boundary and operating efficiencies. Explain where
how a firm could attain a competitive advantage through operation management
Lowest Cost Entry method s( LCEM) or Matrix Minima Method: Step1: Determine the smallest cost in the cost matrix of the transportation table. Let it be ( C ij ). Allocate
Consider this: Lee Peterson has invented a new product that detects water leaks due to broken pipes and sends out an alarm similar to a smoke alarm. However, Lee has very little pe
Explain production budget. A production budget may be made by production manager in consultation along with his assistants after obtaining the sales Budget. A production budg
Research Analysis Fiat Auto acquires Chrysler: A growth strategy? Conduct outside research and prepare a 3-4 page document, double spaced in APA format concerning the following: Yo
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