Identify how changes in the external environment affect the OM strategy for a company. For instance, discuss what impact the following external factors might have on OM strategy.
(a) Major increases in oil prices.
(b) Water-and air-quality legislation.
(c) Fewer young prospective employees entering the labor market.
(d) Inflation versus stable prices.
(e) Legislation moving health insurance from a pretax benefit to taxable income.