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6 Cards in this Set
- Front
- Back
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What are the business trends currently having an impact on operations management
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Productivity improvement, global competitiveness, technological change, environmental, ethical, diversity issues
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What are the basic steps in decision making
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1. Recognize and clearly identify the problem, 2. collect information to analyze solutions, 3. Choose most attractive alternative, 4. implement alternative
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What is multifactor productivty
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ratio of the value of output to the value of input
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Productivity
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The value of outputs (services and products) produced divided by the values of input resources (wages, cost of equipment, etc.)
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What is productivity the basic measure of?
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Performance
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How can you measure the value of outputs
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What customer pays, number of units produced
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