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Question 1 statistics in the taming of randomness
Statistics deals with collecting, organizing, analyzing, interpreting and presentation of data. Without statistics, it is rather hard to know the expectations of an organization. Randomness, on the other hand, is the improbability of the expectation in the future or under a certain undertaking. In organizations, statistics are used for predictions of the future expectations of the business. Statistics aid in containing the uncertainty of future in organizations. Therefore, having statistical data in organizations help tame randomness in organizations and relation to operation’s management, the management is capable of carrying out statistics taming the organizations chances.
High volume and low volume for manufacturing and service industries involve the application of certain principles. High volume in these industries means that there has to be a complete application of appropriate technology that enhances production. These technologies profoundly impact on production thus enhancing operation management in the industries. High volume should also entail exemplary control in the organization. Co-ordination of activities also facilitates high volume in the organization. Low volume, on the other hand, entails low productivity in an organization. That means that the organization’s activities are not well co-ordinate as well as the organization being poorly managed.
Question 3 Porter's Value Chain Model
Michael Porter’s model is extremely beneficial as far as the study of business theory is concerned. It highlights and explains the prime market and industry factor that are likely to affect the performance of a business organization. The model cites out existing competitive rivalry between suppliers, threat of new market entrants, bargaining power of buyers, power of suppliers and threat of substitute products (including technology change) as the five vital forces existing in the market that have a capacity to affect the firm’s competitive advantage. Competitive advantage has been described by Michael Porter as an edge which a firm has over its competitors and one which determines its performance. According to Michael Porter, the manner in which a firm handles these five market forces will determine its position in the market. Michael Porter is a giant when it comes to business theory, because his model has been shown to have practical applications, and there are many business organizations that have managed to improve their performance because of this model. As much as Michael Porter’s model has received critical acclaim from many other likeminded scholars, it has also been a subject of criticism from a good number of academics, who have mainly faulted it for not being an all inclusive model in terms of analyzing all the factors that impact business performance. They point out that fact that this model only analyses five market forces leaving out the rest. Personally, I concur that the model has indeed left out other crucial aspects that may influence the show of a business organization, but I still believe that this model is practical as far as analyzing business performance is concerned.
Question 4 in search of excellence
Robert Waterman and Tom Peters thoughts on post-war business environment were that this was a time when business environment was experiencing a general revolution. There were a lot of ideas being brought onboard by many business theorist and many business organizations benefited from these ideas. Moreover, at this time, Robert Waterman and Tom Peters assert that a lot of businesses were evolving in terms of their business models, and this presented a fertile ground for new ventures. Robert Waterman and Tom Peters were correct in their assertion, because this period was indeed a revolutionary period, marked with new ideas in many areas including on the business front. Some of the premises made by post-war business theorists formed the foundation of Waterman’s and Peter’s work and are still in use today.
Question 5 ‘brutal’ technology
It is undeniably true that technology has had a considerable impact on business organizations. The impacts have been felt both within and without the organizations. It has impacted business organizations both positively and negatively. Some of the positive sides of technology are that it has made it achievable for business friends to be in touch with other commerce people across the world. With that advantage, it has been possible to control the organization’s branches from wherever in the world. This has led to increased productivity of the organizations. It has also facilitated the development of e commerce, which in turn, facilitated the sale and purchase of commodities online. This has led to growth of productivity and profits of these organizations. Technology has also led to the development of the internet which has facilitated fast flow and easy access of information. However, technology has also impacted negatively on organizations. Some of the negatives are that employee morale decreases. This is a fact since the establishment of software’s monitoring employee performance, and conduct makes employees feel not trusted and hence their morale reduces. Technology has also facilitated the spread of spam. Technology has affected high street set up businesses with the establishment of e commerce. Internet has reduced the personal aspect of business relationships. All these negative factors have decreased productivity in businesses.
Question 6 Schumpeter's Waves
The existence of Schumpeter’s waves has had an enormous impact on the economy in the world. His waves portray an incursion of modernism in the market place forcing the market out of its recurring dormant nature. The economy would be stagnant in Schumpeter’s waves did not occur. This stagnation is the natural state of the economy unless it is pushed to improve and move forward by innovation. I think these waves are commendable and are of immence benefit to an organization and to a country’s economy at large. The waves have impacted on today’s organization since with innovations across the world; organizations are able to register recommendable performance and productivity.
Question 7 issue de Jour
Quality in reference to refer to software means that what is produced as software by somebody has to be of substantial and serious benefit to the technology at hand. The software produced must be worth its price. Software quality control makes a lot of sense. Establishment of control on the software produced creates awareness of the quality of the software. That means that individuals after money and not satisfaction of customer needs are controlled in the market. It is a realistic phenomenon since individuals found producing software of low quality, or just for the mere need of making money are brought to justice, since the reputation of technology is put at stake. I have not run into the issue before. I guess it is because of the quality control standards set in the market.
Question 8 quantitative methods
Linear programming is a mathematical approach for determining a method of obtaining best results such as maximum profits or lowest costs. It is an exact case of mathematical optimization. On the other hand, Operations management is concerned with supervising, crafting, and calculating the process of manufacture and redesigning commerce operations in the manufacture of commodities. It engages the liability of ensuring that trade operations are well-organized in terms of utilizing as minimal capital as needed, and successful in terms of meeting consumer needs. Thus, linear programming is included in operations management since it enables individuals know which inputs to apply and which not to apply in production with an aim of reducing cost of production as well as ensuring maximum production is attained.
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