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 entenng the labor market d) Inflation versus stable prices e) Legislation moving health insurance from a pretax benefit to taxable income a) Select all of the correct impacts that major increases in oil prices might have on OM strategy below (Check all that any a) Select all of the correct impacts that major increases in oil prices might have on OM strategy below. (Check all that apply) DA. For the energy inefficient company, change in the cost structure, result in higher selling prices B. For a producer with high energy costs, change in the competitive position C. For the energy inefficient company, change in the competitive position D. For a producer with high energy costs, change in the cost structure, result in higher selling prices b) Select all of the correct impacts that water and air-quality legislation might have on OM strategy below (Check all that appl- A. Difficulty in predicting both the cost of production and the market demand. B. Closing of numerous plants including paper mills and steel mills C. Increasing production cost D. Difficulty in using the specific technologies c) Select all of the correct impacts that fewer young prospective employees entering the labor market might have on OM strategy below (Check all that apply) A High unemployment rates B. Change in the income of employees in the lower pay classifications c. Added capital investment for new equipment or processes D. Tighter job market d) Select all of the correct impacts that inflation versus stable prices might have on OM strategy below. (Check all that apply) A. The manufacturing process stabilizes B. Change in the income of employees in the lower pay classifications c. Difficulty in predicting both the cost of production and the market demand D. The OM function focuses on more standardization e) Select all of the correct impacts legislation moving health insurance from a pretax benefit to taxable income might have on OM strategy below (Check all that apply) A. Decrease in the take-home pay of employees by the amount of the taxes B. Change in the income of employees in the lower pay classifications C. Increase in the take home pay of employees by the amount of the taxes 0. Operations Managers get pressure to increase wages of employees in the lower pay classifications