Discuss the benefits of an effective reverse logistics process. Would you consider working in reverse logistics as a career choice?
In: Operations Management
Between 1988 and 1990 three $150 million amusement parks opened in France. By 1991 two of them were bankrupt and the third was doing poorly. Despite this, the Walt Disney Company went ahead with a plan to open Europe’s first Disneyland in 1992. Far from being concerned about the theme park doing well, Disney executives were worried that Euro Disneyland would be too small to handle the giant crowds. The $4.4 billion project was to be located on 5,000 acres in Seine-et-Marne 20 miles east of Paris. And the city seemed to be an excellent location; there were 17 million people within a two-hour drive of Euro Disneyland, 41 million within a four-hour drive, and 109 million within six hours of the park. This included people from seven countries: France, Switzerland, Germany, Luxembourg, the Netherlands, Belgium, and Britain. Disney officials were optimistic about the project. Their US parks, Disneyland and Disneyworld, were extremely successful, and Tokyo Disneyland was so popular that on some days it could not accommodate the large number of visitors. Simply put, the company was making a great deal of money from its parks. However, the Tokyo park was franchised to others—and Disney management felt that it had given up too much profit with this arrangement. This would not be the case at Euro Disneyland. The company’s share of the venture was to be 49 per cent for which it would put up $160 million. Other investors put in $1.2 billion, the French government provided a low-interest $900 million loan, banks loaned the business $1.6 billion, and the remaining $400 million was to come from special partnerships formed to buy properties and to lease them back. For its investment and management of the operation, the Walt Disney Company was to receive 10 per cent of Euro Disney’s admission fees, 5 per cent of food and merchandise revenues, and 49 per cent of all profits. The location of the amusement park was thoroughly researched. The number of people who could be attracted to various locations throughout Europe and the amount of money they were likely to spend during a visit to the park were carefully calculated. In the end, France and Spain had proved to offer the best locations. Both countries were well aware of the park’s capability for creating jobs and stimulating their economy. As a result, each actively wooed the company. In addition to offering a central location in the heart of Europe, France was prepared to provide considerable financial incentives. Among other things, the French government promised to build a train line to connect the amusement park to the European train system. Thus, after carefully comparing the advantages offered by both countries, France was chosen as the site for the park. At first things appeared to be off to a roaring start. Unfortunately, by the time the park was ready to open, a number of problems had developed, and some of these had a very dampening effect on early operations. One was the concern of some French people that Euro Disney was nothing more than a transplanting of Disneyland into Europe. In their view the park did not fit into the local culture, and some of the French press accused Disney of “cultural imperialism.” Others objected to the fact that the French government, as promised in the contract, had expropriated the necessary land and sold it without profit to the Euro Disneyland development people. Signs reading “Don’t gnaw away our national wealth” and “Disney go home” began appearing along roadways. These negative feelings may well have accounted for the fact that on opening day only 50,000 visitors showed up, in contrast to the 500,000 that were expected. Soon thereafter, operations at the park came under criticism from both visitors and employees. Many visitors were upset about the high prices. In the case of British tourists, for example, because of the Franc exchange rate, it was cheaper for them to go to Florida than to Euro Disney. In the case of employees, many of them objected to the pay rates and the working conditions. They also raised concerns about a variety of company policies ranging from personal grooming to having to speak English in meetings, even if most people in attendance spoke French. Within the first month 3,000 employees quit. Some of the other operating problems were a result of Disney’s previous experiences. In the United States, for example, liquor was not sold outside of the hotels or specific areas. The general park was kept alcohol free, including the restaurants, in order to maintain a family atmosphere. In Japan, this policy was accepted and worked very well. However, Europeans were used to having outings with alcoholic beverages. As a result of these types of problems, Euro Disney soon ran into financial problems. In 1994, after three years of heavy losses, the operation was in such bad shape that some people were predicting that the park would close. However, a variety of developments saved the operation. For one thing, a major investor purchased 24.6 per cent (reducing Disney’s share to 39 per cent) of the company, injecting $500 million of much needed cash. Additionally, Disney waived its royalty fees and worked out a new loan repayment plan with the banks, and new shares were issued. These measures allowed Euro Disney to buy time while it restructured its marketing and general policies to fit the European market. In October 1994, Euro Disney officially changed its name to “Disneyland Paris.” This made the park more French and permitted it to capitalize on the romanticism that the word “Paris” conveys. Most importantly, the new name allowed for a new beginning, disassociating the park from the failure of Euro Disney. This was accompanied with measures designed to remedy past failures. The park changed its most offensive labor rules, reduced prices, and began being more culturally conscious. Among other things, alcohol beverages were now allowed to be served just about anywhere. The company also began making the park more appealing to local visitors by giving it a “European” focus. Ninety-two per cent of the park’s visitors are from eight nearby European countries. Disney Tomorrowland, with its dated images of the space age, was jettisoned entirely and replaced by a gleaming brass and wood complex called Discovery land, which was based on themes of Jules Verne and Leonardo da Vinci. In Disneyland food services were designed to reflect the fable’s country of origin: Pinocchio’s facility served German food, Cinderella’s had French offerings, and at Bella Notte’s the cuisine was Italian. The company also shot a 360-degree movie about French culture and showed it in the “Visionarium” exhibit. These changes were designed to draw more visitors, and they seemed to have worked. Disneyland Paris reported a slight profit in 1996, and the park continued to make a modest profit through to the early 2000s. In 2002 and 2003, the company was once again making losses, and new deals had to be worked out with creditors. This time, however, it wasn’t insensitivity to local customs but a slump in the travel and tourism industry, strikes and stoppages in France, and an economic downturn in many of the surrounding markets.
In: Operations Management
How will marketing be different by 2025?
In: Operations Management
11. Personality is predictive of leader effectiveness. Discuss each correlation coefficient below; make sure to identify/explain the direction of each relationship and each relationship’s magnitude (use Cohen, 1992). (4 points)
Leader Effectiveness |
|
Extraversion |
r = .46 |
Agreeableness |
r = .18 |
Conscientiousness |
r = .35 |
Neuroticism |
r = -.18 |
In: Operations Management
The Outdoor Furniture Corporation manufactures two products, benches and picnic tables, for use in yards and parks. The firm has two main resources: its carpenters (labor force) and a supply of redwood for use in the furniture. During the next production cycle, 3201,320 hours of labor are available under a union agreement. The firm also has a stock of 2403,240 board feet of quality redwood. Each bench that Outdoor Furniture produces requires 88 labor-hours and 1212 board feet of redwood; each picnic table takes 66 labor-hours and 3030 board feet of redwood. Completed benches will yield a profit of $1010 each, and tables will result in a profit of $1515 each. How many benches and tables should Outdoor Furniture produce in order to obtain the largest possible profit?
The optimum solution is:
Number of benches produced equals= _____
(round your response to the nearest whole number).
Number of tables
produced equals=_____
(round your response to the nearest whole number).
Optimal solution value = _____
(round your response to the nearest whole dollar).
In: Operations Management
Bharat Heavy Electricals Limited Concentrates on the Power Equipment Industry Bharat Heavy Electricals Limited (BHEL) is India’s largest engineering and manufacturing enterprise, operating in the energy sector, employing more than 42000 people. Established in 1956, it has established its presence in the heavy electrical equipment’s industry nationally as well as globally. Its vision is to be ‘a world class enterprise committed to enhancing stakeholder value’. Its mission statement is: ‘to be an Indian multinational engineering enterprise providing total business solutions through quality products, systems, and services in the fields of energy, industry, transportation, infrastructure, and other potential areas’. BHEL is a huge organization, manufacturing over 180 products categorized into 30 major product groups, catering to the core sectors of power generation and transmission, industry, transportation, telecommunications and renewable energy. It has 14 manufacturing divisions, four power sector regional centers, over 100 project sites, eight service centers and 18 regional offices. It acquires technology from abroad and develops its own technology at its research and development centers. The operations of BHEL are organized into three business sectors of power, industry and overseas business. Besides the business sector departments, there are the corporate functional departments of engineering and R & D, human resource development, finance and corporate planning and development. BHEL’s turnover experienced a growth of 29 per cent, while net profit increased by 44 per cent in 2006-07. BHEL has formulated a five-year strategic plan with the aim of achieving a sustainable profitable growth. The strategy is driven by a combination of organic and inorganic growth. Organic growth is planned through capacity and capability enhancement, designed to leverage the company’s core areas of power, supported by the industry, transmission, exports and spares and services businesses. For the purpose of inorganic growth, BHEL plans to pursue mergers and acquisition and joint ventures and grow operations both in domestic and export markets.
BHEL is involved in several strategic business initiatives at present for internationalization. These include targeting the export markets, positioning itself as a reputed engineering, procurement and construction (EPC) contractor globally, and looking for opportunities for overseas joint ventures. An example of a concentration strategy of BHEL in the power sector is the joint venture with another public enterprise, National Thermal Power Corporation, to perform EPC activities in the power sector. It is to be noted that NTPC as a power generation utility and BHEL as an EPC contractor have worked together on several domestic projects earlier, but without a formal partnership. BHEL also has joint ventures with GE of the US and Siemens AG of Germany. Other strategic initiatives include management contract for Bharat Pumps and Compressors Ltd. and a proposed takeover of Bharat Heavy Plates and Vessels, both being sister public sector enterprises. Despite its impressive performance, BHEL is unable to fulfil the requirements for power equipment in the country. The demand for power has been exceeding the growth and availability. There are serious concerns about energy shortages owing to inadequate generation and transmission, as well as inefficiencies in the power sector. Since this sector is a major part of the national infrastructure, problems in the power sector affect the overall economic growth of the country as well as its attractiveness as a destination for foreign investments. BHEL also faces stiff competition from international players in the power equipment sector, mainly of Korean and Chinese origin. There seems to be an undercurrent of conflict between the two governmental ministries of power and heavy industries. BHEL operates administratively under the Ministry of Heavy Industries but supplies mainly to the power sector that is under the Ministry of Power. There has been talk of establishing another power equipment company as a part of the NTPC for some time, with the purpose of lessening the burden on BHEL.
1) BHEL is mainly formulating and implementing concentration strategies nationally as well as globally, in the power equipment sector. Do you think it should broaden the scope of its strategies to include integration or diversification? Why?
2) Suppose BHEL plans to diversify its business. What areas should it diversify into? Give reasons to justify your choice.
answer must be 500 words and above
In: Operations Management
Determine the utilization and the efficiency for each of these situations: a. A loan processing operation that processes an average of 4 loans per day. The operation has a design capacity of 12 loans per day and an effective capacity of 11 loans per day. (Round your answer to 1 decimal place. Omit the "%" sign in your response.) Utilization % Efficiency % b. A furnace repair team that services an average of 3 furnaces a day if the design capacity is 7 furnaces a day and the effective capacity is 5 furnaces a day. (Round your answer to 1 decimal place. Omit the "%" sign in your response.) Utilization % Efficiency % c. Would you say that systems that have higher efficiency ratios than other systems will always have higher utilization ratios than those other systems? This is not necessarily . If the design capacity is relatively , the utilization could be even though the efficiency was . Next Visit question mapQuestion 1 of 5 Total
In: Operations Management
Doug Turner Food Processors wishes to introduce a new brand of dog biscuits composed of chicken and liver flavored biscuits that meet certain nutritional requirements. The liver flavored biscuits contain 1 unit of nutrient A and 2 units of nutrient B; the chicken flavored biscuits contain 1 unit of nutrient A and 4 units of nutrient B. According to federal requirements, there must be at least 40 units of nutrient A and 60 units of nutrient B in a package of the new mix. In addition, the company has decided that there can be no more than 15 liver flavored biscuits in a package. It costs 1¢ to make 1 liver flavored biscuit and 2¢ to make 1 chicken flavored. Doug wants to determine the optimal product mix for a package of the biscuits to minimize the firm's cost.
The aim of the objective function should be to ▼ Minimize Maximize the objective value.
The optimum solution is:
Number of liver flavored biscuits in a package = ___ (round your response to two decimal places).
Number of chicken flavored biscuits in a package = ____ (round your response to two decimal places).
Optimal solution value = ____ (round your response to two decimal places).
In: Operations Management
Imagine you are trying to rent a store from a landlord. Explain the process you will use to NEGOTIATE the terms of your lease?
In: Operations Management
base the following questions on the study of consumer reciprocity.
-How do consumers enter into and respond to specific situations
where reciprocity may be expected.
-How consumers are affected by the relationships between the
parties of the reciprocal exchange.
- The impact on reciprocity of the value and significance of an
exchange.
In: Operations Management
We are developing an online to give to job applications to measure their suitability for a sales position and one of the key attributes for a good salesperson is emotional intelligence. We plan to use Trait Emotional Intelligence Questionnaire (TEIQue) to measure emotional intelligence. Explain how and why you would use convergent validity to validity the TEIQue before using it?
In: Operations Management
The Attaran Corporation manufactures two electrical products:
portable air conditioners and portable heaters. The assembly
process for each is similar in that both require a certain amount
of wiring and drilling. Each air conditioner takes 3 hours of
wiring and 2 hours of drilling. Each heater must go through 2 hours
of wiring and 1 hour of drilling. During the next production
period, 240 hours of wiring time are available and up to 130 hours
of drilling time may be used. Each air conditioner sold yields a
profit of $20. Each heater assembled may be sold for a $16
profit.
Number of air conditioners to be produced =_____ (round your
response to two decimal places).
Number of heaters to be produced = _______(round your response to
two decimal places).
Optimal solution value = _______(round your response to two
decimal places).
In: Operations Management
The Coca-Cola Company
In: Operations Management
The Coca-Cola Company
In: Operations Management
The Coca Cola Company
In: Operations Management